A Letter to our Valued PCTL Shareholders February 8, 2022
I would like to take some time to address all of you to discuss the current state of the company, review 2021 and take a look forward at 2022. The coronavirus has held everyone’s attention for 2 years now. While it continues to create uncertainty throughout the economy and disrupt supply chains, it continues to afford us opportunities or growth, increased brand awareness and recognition of PCT LTD in new and increasingly larger markets. Although 2021 revenues were less than stellar and less than the prior year, the revenues increased 5-fold above pre-pandemic 2019. Even with the dip in revenue, we still accomplished a great deal, including: Cleaning up the balance sheet • We’ve eliminated short-term expensive debt • We’ve eliminated toxic debt • We’ve virtually eliminated medium to long term debt R & D and Infrastructure • We invested heavily in R&D, upgrades to the warehouse and shipping efficiencies and significant build-out in our Ft. Wayne facility • We rolled out our second-generation On Site Generating (OSG) machines some of which have been placed in the field at client locations. The performance of this design is surpassing all expectations. • While we keep a lean headcount, 18 full or part-time employees, most of the existing staff have been with us less than two years, while others, including our CFO, have been with us less than one year. Our employees are a talented and focused team, doing great work and are passionate about growing PCT’s bottom line. Critical institutional knowledge in engineering, machine design and production are intact. Read more here: https://pctl.com/wp-content/uploads/2022/02/2021-Shareholder-Letter.pdf
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