PCT Ltd (PCTL)

[magnus_invest]

3 days or less till the 10-K by 5/14/2020

According to the 8-K filled March 30,2020
https://www.otcmarkets.com/filing/html?id=14076941&guid=wviHUHnONOr9eth

Item 8.01 Other Events.
COVID-19 and FORM 10-K

Due to the guidelines established by federal, state and local governments limiting physical contact and promoting social distancing as result of the global outbreak of the COVID-19 virus, the Registrant has evaluated its ongoing effort to prepare and file its Annual Report on Form 10-K for the fiscal year ended December 31, 2019. This evaluation has led to the conclusion that the Registrant expects to be unable to compile and review certain information required in order to permit the Registrant to file a timely and accurate Annual Report on Form 10-K for its year ended December 31, 2019, by the prescribed date without unreasonable effort or expense due to circumstances related to COVID-19.

Accordingly, we have decided to rely on the SEC Order and endeavor to file the Annual Report no later than May 14, 2020, or within 45 days after the Original Due Date. The reason the Form 10-K cannot be filed timely does not relate to the inability of any person, other than the Company, to furnish any required opinion, report, or certification.

Social distancing measures have been taken by both the Registrant’s outside accountants and its independent registered public accounting firm in order to protect the health of their employees. Further, travel restrictions have delayed certain inventory audit procedures and other items required for the annual audit. All of the foregoing has slowed the accounting and auditing work required to compile and audit the Registrant’s financial statements for the year ended December 31, 2019 to be included the Annual Report.

The Registrant is monitoring current conditions to determine a timeline to complete the inventory verification and audit of its financial statements.

On March 25, 2020, the Securities and Exchange Commission (the “SEC”) issued an Order under Section 36 (Release No. 34-88465) of the Securities Exchange Act of 1934 (“Exchange Act”) granting exemptions from specified provisions of the Exchange Act and certain rules thereunder (the “Order”). The Order provides that a registrant (as defined in Exchange Act Rule 12b-2) subject to the reporting requirements of Exchange Act Section 13(a) or 15(d), and any person required to make any flings with respect to such a registrant, is exempt from any requirement to file or furnish materials with the Commission under Exchange Act Sections 13(a), 13(f), 13(g), 14(a), 14(c), 14(f), 15(d) and Regulations 13A, Regulation 13D-G (except for those provisions mandating the fling of Schedule 13D or amendments to Schedule 13D), 14A, 14C and 15D, and Exchange Act Rules 13f-1, and 14f-1, as applicable, where certain conditions are satisfied.

The Registrant is relying on this Order for filing of this Form 8-K dated March 30, 2020, the original filing deadline of the annual report, and expects to file its Annual Report on Form 10-K approximately 45 days after March 30, 2020.


45 days after March 30, 2020 is May 14th. I am so looking forward to this financial report, the numbers will be AWESOME!!!!!

This will be an absolute wonderful week!!!!!

~Magnus