Aug 25, 2020   SOURCE: BusinessWire

PCT LTD Announces New Distributor, Large Purchase Order for Annihilyzer® Systems

PCT LTD (OTC Pink: PCTL) is happy to announce the receipt of a purchase order for the installation of five new Annihilyzer® Infection Control systems as well as an additional distributorship to the company’s growing network.

Through PCTL’s primary healthcare distributor, ACE Janitorial Services, five (5) of the company’s modified rack-mounted Annihilyzer® Infection Control systems are being installed at an existing NYC hospital, adding to the two systems currently installed and operating at this location. The hospital is currently conducting a pilot program aimed at increasing their ability to produce disinfecting fluid onsite for use in multiple applications.

In addition, the company is providing an update on a new distributorship which is being added to the growing network of PCTL distributors. PCTL Disinfectant Solutions, LLC is a Ft. Lauderdale, Florida based level 1 distributor. This company was formed specifically for the purpose of distributing PCT LTD products. It is important to note, this is a separate, privately-owned company and is not a joint venture, partnership, or other affiliate of PCT LTD beyond a distribution agreement. PCTL Disinfectant Solutions LLC’s decision to build a business around the distribution of PCTL’s Hydrolyte® disinfectant was made due to interest in PCTL’s highly effective, hospital grade disinfectant, with its US EPA registration (92108-1) and because the environmentally-responsible nature of the HOCl-based product is exactly what consumers, both business and government, are seeking.

With the addition of PCTL Disinfectant Solutions, the company now has 24 distributors and/or supplemental registrants in 17 states and Puerto Rico and plans to continue to expand its growing network.

“We are continuing to vet and add additional distributors in specific areas which we’ve identified as having the greatest opportunity for growth and success,” explains PCT Corp President Bill Prince. “Our footprint has been growing exponentially over the last several months and we see that continuing through the end of the year.”

The company is continuing to work on releasing its second quarter 10-Q report which is in the final stages of review by the company’s independent accountants and auditors. The company expects to file the report as soon as possible.

“We continue to appreciate the patience and understanding of our investors,” says PCTL CEO Gary Grieco. “We remain committed to increasing shareholder value as well as confidence and know that establishing a process which ensures that all necessary filings are completed within a reasonable timeframe are an important step in that direction.”

“Unfortunately, the delay experienced in filing our 2019 10-K Annual Report impacted subsequent filings and caused unfortunate and unavoidable setbacks for those reports,” adds Grieco. “Now that our 2019 10-K Annual report and our first quarter 10-Q report have been filed, our second quarter 10-Q filing is imminent, and we are confident that future filings will not experience similar delays.”

ADDITIONAL NEWS AND CORPORATE UPDATES:

PCTL would like to warn its stockholders and potential investors that material corporate information regarding sales, areas of business and other corporate updates will only be made through press releases or filings with the SEC. PCTL does not utilize social media, chatrooms or other online sources to disclose material information. The public should only rely on official press releases and corporate filings for accurate and up to date information regarding PCTL.

About PCT LTD:

PCT LTD ("PCTL") focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting, cleaning and tracking technologies. The company acquires and holds rights to innovative products and technologies, which are commercialized through its wholly-owned operating subsidiary, Paradigm Convergence Technologies Corporation (PCT Corp). Currently trading on OTC, "PCTL" aspires to and is actively engaged in preparations for up-listing its common stock to a national securities exchange. The Company established entry into its target markets with commercially viable products in the United States and now continues to gain market share in the U.S. and U.K.

Forward-Looking Statements:

This press release contains "forward-looking statements" as defined in Section 27A of the Securities Act of 1933, as amended, and Section 21B of the Securities Exchange Act of 1934, as amended. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, goals, assumptions or future events or performance are not statements of historical fact and may be "forward-looking statements."

Such statements are based on expectations, estimates and projections at the time the statements are made that involve a number of risks and uncertainties, which could cause actual results or events to differ materially from those presently anticipated. Such statements involve risks and uncertainties, including but not limited to: the ability of PCTL’s most recently added distributors to gain and maintain certain saturation levels within their regions and/or markets; PCTL’s continued installation of equipment; subsequent installations of PCT’s Annihilyzer Infection Control Systems; the availability of audit, accounting and legal professionals during the pandemic and the impact of COVID-19 on the timeframe of filing PCTL’s 2020 Q2 10-Q; PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; any other effects resulting from the information disclosed above; risks and effects of legal and administrative proceedings and government regulation; future financial and operational results; competition; general economic conditions; and the ability to manage and continue growth. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual outcomes may vary materially from those indicated. Important factors that could cause actual results to differ materially from the forward-looking statements PCTL makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the SEC. PCTL undertakes no obligation to revise or update such statements to reflect current events or circumstances after the date hereof or to reflect the occurrence of unanticipated events.