Monday, May 15, 2023 5:02:23 PM
My view is that it's complicated, but overall the move is a net positive for PCTL.
Would it have been nice if they kept healthcare, since that has been the primary focus of the company to this point? Yes, I can understand that view. But at the same point I think it's clear that PCT's ability to maximize the potential was limited. I believe the headwinds are all very real, and translated to slow progress for PCT in healthcare.
If we didn't get the positive update on O&G, I would have been much more ambivalent/concerned. But the fact that we can expect to be at 15-20 machines operating in O&G by August is a huge positive. I am not privy to the exact details of how many machines were operating a year ago at this time but my recollection is that there were only a handful, my guess would be 1 or 2. They went from a few machines in service in O&G to 15-20 in about a year, that's pretty meaningful growth. It also shows that there is much less resistance, and could even say there is an open door of opportunity.
Healthcare has been at only around 20 machines and we have only seen only a few new leases added at a time. Now we know that O&G has nearly replicated the number of machines with plenty of room to grow.
I am not going to get into how quickly this growth could/should continue as word of mouth spreads and contacts within the industry learn more about the success. Just speaking of the known growth for now.
I am pleased with Art's competent and steady hand leading the company through a difficult time and expect things to be much more favorable going forward.
Recent PCTL News
- Form 8-K - Current report • Edgar (US Regulatory) • 10/05/2023 02:05:09 PM
- Form 15-12G/A - Securities registration termination [Section 12(g)]: [Amend] • Edgar (US Regulatory) • 07/18/2023 07:06:52 PM
- Form 15-12G - Securities registration termination [Section 12(g)] • Edgar (US Regulatory) • 07/13/2023 04:32:57 PM
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Fifty 1 Labs, Inc Announces Acquisition of Drago Knives, LLC • CAFI • Jun 18, 2024 8:45 AM
Hydromer Announces Attainment of ISO 13485 Certification • HYDI • Jun 17, 2024 9:22 AM