Toxic Funders

[namtae]

Additional RB Capital activity with PCTL (PCT Ltd)

Here PCT makes a PR in receipt of a conventional convertible note, convertible well above current market prices. No ratchet, no funny business.

PCT LTD (OTC Pink: PCTL) today announced that it has received $400,000 in funding from California based RB Capital Partners, Inc. ("RB Capital"). RB Capital has provided funding to the Company in the form of two 12-month premium-to-market convertible notes. The notes accrue interest at 5% per annum, are convertible at a rate of $0.20 per share and do not include any ratchet clauses or warrant coverage. The entire $400,000 investment has been received by the Company as of October 16, 2020.

https://finance.yahoo.com/news/pct-ltd-pctl-received-400-120000097.html

No mention of a contingency to the above funding until its disclosed later, in a 10Q filing below

ITEM 5. OTHER INFORMATION

RB Capital Financing

In September of 2020, the Company negotiated a financing transaction with RB Capital Partners, Inc. (“RB Capital”), whereby RB Capital would provide the Company with up to $400,000 in financing. As a condition to the financing, the Company was required to reduce the conversion price of a $31,500 promissory note RB Capital acquired from a third-party down to $0.001 and immediately convert the note into 31,500,000 shares of unrestricted common stock. Such shares were issued on or about October 7, 2020.

https://www.sec.gov/Archives/edgar/data/1119897/000155479520000304/pctl1114form10q.htm

Since the initial conventional Note, PCT has PR'd several subsequent conventional loans from RBC without any contingencies mentioned in the PR, exactly as the initial loan.

PCTL is currently delinquent in their Q1 2021 filing, so no disclosure available of other significantly discounted shares being issued as contingency to subsequent loans.

BR has been chatting it up on Twitter about PCTL as well

Lastly, a few Fridays ago PCTL traded in excess of 200m shares, a massive leap in its usual trading activity coinciding with some oil enhancement testing PR theyve been conducting. Of course, the spike in share price to .032 lasted less than 1 day and now its back to sub 2 cents