Replies to post #179693 on PCT Ltd (PCTL)

[Egold]

Old news it's in the past. Company is changing


Lease revenue is up 300 thousand over this time last year. Tells me they have systems going out.

Paid off some notes and paid down other notes

They already have clients for O&G


Long term PCTL is looking very good

[beer$$money]

I guess you failed to read the Q3? PCTL put an Advance Payment for $1.45 Million on the Books in Q3. That should make us all go Hmmmm?? O&G money???
Quote: "wont even make 2.4 million this year"

CURRENT LIABILITIES
Advances payable 1,450,000 pg 4

Definition of Revenue Received in Advance
Under the accrual basis of accounting, revenues received in advance of being earned are reported as a liability. If they will be earned within one year, they should be listed as a current liability.

Advance payment is a type of payment made ahead of its normal schedule such as paying for a good or service before you actually receive it. Advance payments are sometimes required by sellers as protection against nonpayment, or to cover the seller's out-of-pocket costs for supplying the service or product.