Wednesday, April 15, 2020 9:37:41 AM
PCT LTD (OTC Pink: PCTL), announces Q3 2019 Financials.
Financial Highlights:
Financial Results for the three months ended September 30, 2019:
- Revenue Increased 435% to $220,033 compared to $41,124 for the same quarter of 2018. The revenue increase for the period was due to an increase in volume of fluids sold, equipment sales and recurring leased income. $29,500 was a result of licensing revenue.
- G&A Expenses dropped from $827,168 to $468,897 or 43.3% during Q3 2019. The expenses decreased primarily due to a decrease in compensation during the quarter.
- Operating Expenses decreased 36.4% from $950,454 to $604,847 during the quarter. This is a result of cost reductions, primarily due to a decrease in compensation.
- Net Operating Losses decreased 57.7% from $909,330 during the comparable quarter in 2018 to $384,814 in Q3 2019.
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