Thanks> PCT LTD Discusses Its Rapid Growth and Expansion Plans with The Stock Day Podcast (Newsfile Corp. - April 21, 2020)
The Stock Day Podcast welcomed PCT LTD (OTC Pink: PCTL), a company that focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies. CEO of the Company, Gary Grieco, joined Stock Day host Everett Jolly.
Jolly began the interview by noting the Company's recent increase in sales, and asked whether or not this trend is expected to continue. "Yes, we had this big rush to sell, but now what is occurring is we are beginning to get another line of distributors," explained Grieco, noting that the Company currently has three new distributors and is expecting to add an additional three to four distributors within the next ten days. "Each one of these distributors is already in business," said Grieco. "What they are doing is shifting from using the harsh chemicals to using our product in their businesses," he continued, adding that hospitals have also expanded their use of the product in their facilities.
"Although the initial panic-buying has subsided, we'll be growing certainly this month and into the foreseeable future," shared Grieco.
The conversation then turned to dilution and outstanding shares. Grieco noted that dilution occurred prior to January 2020, but shared that any shares that are currently being issued are meant for growth. "We are in a position as a company on a cash flow basis to cover the burn-rate," said Grieco. "So, we finally have free available cash flow," he added. "We have to expand very rapidly. We see a need, starting in July, to start delivering at least 25 systems a month," said Grieco.
Jolly then commented on the Company's latest press release detailing a distribution agreement with the UK NHS company. Grieco shared that the agreement will likely begin with five systems starting in July and will later expand to fulfill the needs of their healthcare system.
Grieco then addressed rumors that the Company is expanding into China. Grieco shared that the Company signed an MOU in January of 2020, which required the Company to deliver systems. "When the pandemic broke, we took that out of the equation," said Grieco. "What we have done is tabled any discussions until late summer," he continued. "I don't feel that we should be shipping any systems anywhere as long as we need them here in the United States."
"How are you going to manage this rapid growth?" asked Jolly. Grieco expanded on the potential of the Company's Fort Wayne facility, sharing that the Company can grow by about 40% with this facility. "The Little River facility will be strictly for R&D and speciality orders on equipment," said Grieco when explaining the Company's plan for growth moving forward. "We're going to shift all of the manufacturing to Fort Wayne," he continued, noting that the Company is also taking precautions to make necessary upgrades as they continue to grow.
To close the interview, Grieco shared that the Company has faced major challenges with success and is now on a rapid growth path which includes their work in the healthcare industry, as well as in the oil, gas, and cannabis industries.
To hear Gary Grieco's entire interview, follow the link to the podcast here:
News 
Market Data 
Discover 
