PCT Ltd (PCTL)

[MrTraderJoe]

I once owned this, but glad I don't now. Been watching it ever since I got out and notice it has been drifting down for a long time. I am not saying this company is a scam, I don't know if it is, but a penny stock company that has a public and private arm is a red flag to me.

I got bitten by the Chinese RTOs in 2011 and nearly all of them had this public-private setup - a public shell and a real private company. They were setup that way to take the money that comes in from the public arm and siphon it off to the private arm. They used to make wild forecasts to entice public shareholders and pretended to be legit till it all fell apart. For those who are not aware of the fraud I am speaking about, just google "Chinese RTO fraud".

Anyway, good luck to those who own this stock. Hope it works out well for you.