PCT Ltd (PCTL)

[NewGuy001]

Revenues decreased to $1,231,392 for the nine months ended September 30, 2021 compared to $1,937,442 for the nine months ended September 30, 2021. The revenue decrease for the period was primarily due to the decreased volume of fluids sold as a result of the decreased need for an effective US EPA-registered disinfectant as the country came out of the COVID-19 pandemic. Accordingly, product sales decreased to $204,138 during the nine-months ended September 30, 2021 compared to $1,233,058 during the nine-months ended September 30, 2020. However, revenue for equipment leases increased to $802,132 during the nine-months ended September 30, 2021 compared to $501,384 during the nine-months ended September 30, 2020.

Total operating expenses increased to $3,133,929 during the nine months ended September 30, 2021 compared to $2,651,016 during the nine months ended September 30, 2020. The increase during the period was primarily due to an increase in general and administrative expenses of $827,644 partially offset by a decrease in cost of product, licensing, and equipment leases of $393,646.