PCT Ltd (PCTL)

[ACE13]

Family and friends have not been able to exit by selling shares. The family and friends kept this thing afloat for several years by buying in at MUCH higher share prices than this has been at for several years. They have been the ones most abused when Gary took on the toxic debt and then didn't manage it properly ballooning the outstanding shares to 700 million! This never started out as a scam and hasn't been managed that way. It has been managed horribly but more out of desperation trying to stay alive than by intent.
When they got the +$2 million they paid down some debt and then spent $700,000 on parts for equipment when they weren't selling or leasing 2 machines a month. It is also doubtful that they had all parts necessary to build a complete unit even with all the money spent on parts.
The overhead has always been way higher than any business that was being done required. Gary is a horrible manager but he never started this or ran it as a scam. He has also not enriched himself or his family. Lots of free meals and some vacations, yes. But pulling large salaries and selling cheap shares of stock has not taken place.