PCT LTD Issues Company Update and Signs Collaborative Agreement for Oil & Gas, and Cannabis Applications Little River, South Carolina--(Newsfile Corp. - December 16, 2019) - PCT LTD (OTC Pink: PCTL) ("PCTL"), designer of the Annihilyzer® Infection Control System (Annihilyzer® System"), a whole-room cleaning and disinfecting system for hospital and healthcare facilities, is pleased to release the following status update:
PCT LTD, through its operating company Paradigm Convergence Technologies Corporation (PCT Corp.), has launched the Annihilyzer® Infection control system, a revolutionary product line that reduces the likelihood of acquiring HAI's (Hospital Associated Infections) within hospitals in the United States and Europe. Our years of experience with the products we've researched, developed and are now successfully delivering to hospitals tells us that generating substantial revenue can coincide with delivering "green" solutions to our customers, utilizing responsible disinfectants that do not harm people or our environment. The antimicrobial products delivered by the Annihilyzer® System create fatal damage to the cell walls of unwanted, dangerous pathogens such as antibiotic-resistant bacteria, viruses, yeast and fungi.
PCT LTD's mandate to PCT Corp. continues to be to strategically, methodically and successfully enter and gain market share within three industries: healthcare, agriculture, and oil & gas. The company has recently been increasing earned income from the sale of services, disinfecting and sanitizing fluid, equipment, and/or non-essential intellectual property thereby reducing operating deficits. Addition growth and funding may also result in an increase in hiring to aid in sales and marketing in order to make faster gains towards achieving profitability.
Revenue generation is accelerating due to the gains made by PCT Corp.'s installations of Annihilyzer® Infection Control Systems, which are being deployed to hospitals through internal sales efforts in concert with distributors and/or manufacturer's representative(s). Ten (10) Annihilyzer® Infection Control Systems have been installed in seven (7) different hospitals, including one in the United Kingdom, and three (3) more are slated for installation within the next several weeks. Furthermore, most of these facilities are already in the long-term planning and budgeting process to expand their systems in the future. The initial analysis of the sales cycle shows a 6- to18-month sales cycle, including a 60-day trial installation and initial training, concurrent with hospital budgeting/contracting, and system expansion/training. The sales cycle begins when we (PCT staff and our distributor) first engage a strategic customer (hospital), but ultimately the sales process involves helping the environmental services department, infection control department, nursing department, CFO, and other various stakeholders understand how the system beneficially affects their workload, infection rates, employee morale and welfare, patient turnover, surgery center output, reimbursements, patient satisfaction, insurance, and other cost reductions. Typically, before committing to a multiyear agreement, the facility will want to conduct a 60-day trial installation to confirm the system truly has the potential to benefit their operations like it has at other facilities. To help off-set costs for the trial installation, PCT Corp. invoices a small, reasonable amount which, by putting just a little bit of "skin in the game", shows a sincere commitment from the facility to give it a "fair shake". After the trial period is over, we have not yet had to remove a system, although hospitals may require a little more time for creative budgeting or interim payment arrangements until they can execute a longer-term master service agreement (lease), This strategy is paying off for us as this proof of concept continues to show true viability and we will soon have a track record of demonstrated performance and effectiveness that will allow us to eliminate the need for trial periods with new customers.
PCT Corp. also sells equipment and fluid solutions to food processing customers, agricultural customers (The company continues research, reporting and registration data completion to the US EPA continues in this market.), and is making gains into selling equipment to oil & gas industry customers who are performing further research for the most effective manner to produce and use the fluid solutions. Most recently, PCT Corp. has executed a collaborative agreement with Advanced Environmental Solutions, Inc. ("AES, Inc.") of Meeker, Oklahoma. AES, Inc. purchased two (2) high-volume units of PCT Corp.'s equipment and is building out a 2,500 s.f. production facility as it develops its oil & gas and Cannabis applications.
We will work diligently to better communicate with the public. We understand the importance of communicating our progress in a timely and consistent manner and plan to provide additional business updates on a monthly basis. We also do not take lightly the fact that we are delinquent in filing our 2019 third quarter 10-Q. Our intent is to file our 10-Q as soon as practicable and we are discussing the best course of action in this regard. We encourage calling our investor relations team at Chesapeake Group to further discuss any information which is already public.
"We are achieving progress on multiple fronts, resulting in current and future revenue growth. The demand for our products remains strong. The current year has been one of building a strong foundation which we anticipate leveraging for accelerating growth moving forward," comments Gary Grieco, Chairman, PCT LTD.
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