PCT Ltd (PCTL)

[Egold]

Namtae quote Uh OH,

Looks to me lawsuit could be coming by PCTL ,,,, Wonder how much money Acuts will cough up on a class-action.


In October of 2020, we entered into a Conditional Settlement Agreement with Auctus to settle all disputes and claims between the parties. A material dispute between the parties was the warrants, which according the Auctus had ballooned to 107,142,857 shares at an exercise price of $0.00035. Pursuant to the settlement agreement, Auctus agreed to settle such disputes and claims based upon the payment of $145,000 in cash and the issuance of 8,000,000 shares of common stock.

On September 1, 2021, we issued 8,000,000 common shares and paid the remaining cash balance to Auctus under the terms of the settlement. We fully complied with all payments required under the settlement agreement and issued the shares of common stock to Auctus, which triggered the mutual release of all disputes and claims between us and Auctus. Despite our compliance with the terms of the settlement agreement, Auctus has refused to execute the mutual release required by the settlement agreement and acknowledge the cancellation of the warrants as part of the settlement.



As of the date of this filing, we are exploring our remedies against Auctus, which may include filing legal action for breach of the settlement agreement and seeking a declarotory judgment as to the cancellation of the warrants. We are also continuing to seek cooperation with Auctus in settlement of this ongoing dispute.


# more money for shareholders