PCT Ltd (PCTL)

[beer$$money]

GG is all in!! Thanks for pointing this out!!

On February 16, 2021, the Company issued 1,803,279 shares of common stock to settle $247,270 from a $275,000 note payable dated June 20, 2018, which has a balance of $331,304, including interest, to the current Chairman and CEO of the Company. The Company also agreed to issue a new note for the remaining balance owed to the Chairman and CEO of $84,034, dated February 16, 2021. The note will bear interest at 5% per annum and is due on June 30, 2021. The Company recognized the fair value of the shares issued of $50,492 and due to the related party nature of the transaction no gain was recognized for the difference between the fair value of the shares and the extinguished debt. The resulting difference was recorded as Additional Paid-in Capital in the amount of $194,861. During the year ended December 31, 2021, the Company made several payments to repay the principal amount of $34,034 leaving a note balance of $50,000.

https://www.otcmarkets.com/filing/html?id=15701553&guid=5xqwkqiHU8A_B3h