PCT Ltd (PCTL)

[aandt]

I know you like to parse words, in the past it has been easy to find faults with PR's. This one however, I believe you are misreading the details.


This is what the PR said-

PCT LTD offers clarification about its recent announcement with regard to the recent million gallon minimum annual contract with Maverick Energy and Maverick Environmental Solutions. The annual contract for a minimum of one million gallons will be split between both companies with Maverick Environmental Solutions marketing to non-oil and gas related customers. Completion of the contract will provide millions of dollars of gross revenues to PCTL.

The split is not between PCTL and Maverick. The split is between two Maverick entities. Maverick Energy is O&G, Maverick Environmental will market to non O&G. The two entities will split the fluids coming from PCTL.

As for why the update? Well I am guessing Gary got an earful from frustrated investors about the missing detail of $$. Of course it would have been better to have the original PR include something related to revenue impact. This clarification shows that the deal itself is worth millions in gross revenues to the company. Better late than never.

And with the guidance update, we can guess that this deal is likely in the 4-5M range at least. One thing we do know is that Gary does not make outlandish public statements on revenues. If he is willing to put this number out there now, it should be an indication that the deals in place already account for that number with confidence.

You yourself have said that 2021 will be a good year for PCTL. We are now starting to see it take shape.