PCT Ltd (PCTL)

[Smokenjoe1]

Nice!


On July 11, 2021, we incorporated a new wholly-owned subsidiary, Disruptive Oil and Gas Technologies Corp (“Disruptive O&G”), in the State of Nevada. Disruptive O&G was formed to allow us flexibility in operations dealing with the oil and gas industry. As at December 31, 2021, Disruptive O&G had not commenced operations.

 

In October of 2021, we entered into a contribution agreement (the “Contribution Agreement”) among Nano Gas Technologies, Inc. (“Nano Gas”), NGT Energy Inc, Pentagon Technical Services, Inc. (“Pentagon”) and Disruptive O&G. Pursuant to the Contribution Agreement, Nano Gas assigned a patent, titled “Nanobubble Dispersions in Electrochemically Activated Solutions”, to Disruptive O&G in return for a 46.25% ownership interest in the entity and Pentagon was issued a 7.5% ownership interest in the entity for services. A copy of the Contribution Agreement is attached hereto as Exhibit 10.7.