PCT Ltd (PCTL)

[NewJerichoMan]

Balance sheet is a snapshot in time. Accounts payable, accrued expenses - related parties, current portion of notes payable - related parties, net, and current portion of notes payable, net decreased in total about $1.05M. Cash on hand increased about $125K. Between those 2 items ($1,175,000), that leaves about $275K unaccounted for. Throw on top they are losing several hundred thousand dollars per quarter, it's easy to see where the additional monies got burned in the quarterly wash cycle: salaries, wages, rent monies, etc.

I'm more interested to know what the cost of that advance payable will be. Will it be paid in equity (PCTL shares) but can't right now because the Acutus warrants + current outstanding exceed the authorized shares? Perhaps we've giving up equity in a future joint O&G venture? If that were the case, it's encouraging that someone thinks it's worth at least $1.45M to keep $PCTL from going into bankruptcy. Or, will $PCTL be obligated to delivery on $1.45M in product in the future but first had to clear out / rollover existing debt to finance the necessary inventory to create said product (thinking machines here).