LITTLE RIVER, S.C., June 16, 2022--(BUSINESS WIRE)--PCT LTD ("PCTL") (OTC Pink: PCTL), the parent holding company to Paradigm Convergence Technologies Corp., a company focused on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies, announced today progress in multiple segments of its business.
Based on recent discussions and commitments, PCT is confident its pipeline will grow quickly. Recent expansion into new geographic markets is anticipated to translate into additional contracts with healthcare facilities. There is active interest from several entities regarding the healthcare business. PCT expects to be able to provide further detail in the coming weeks.
"In order to more rapidly accelerate the monetization of our healthcare contracts, PCTL has formed a new wholly-owned subsidiary, '21st Century Healthcare.' We plan on transferring all healthcare related assets into this new subsidiary creating an entity that invites and allows for direct investment opportunities into the healthcare business. This structure is intended to allow us to focus additional financial resources in this sector which is already gaining long-anticipated momentum. Stockholder value should increase from much faster growth and a stronger balance sheet without additional dilution. They should also benefit from the fact that the individual businesses may be worth far more than the current combined value of the company and we look forward to unlocking this potential," commented CEO Gary Grieco.
The near-term plan is to create something similar in Oil and Gas allowing us to capitalize on momentum in this sector as well. The recently signed Memorandum of Understanding with LeadGreen Energy Services should allow larger-scale drilling to commence later this month and be completed in July. We fully expect this to lead directly to additional opportunities as we move through the third quarter.
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 subsidiaries. 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.
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: PCTL's ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCTL to execute its business plan; the anticipated results of business contracts with regard to revenue; any benefit resulting from the transfer of assets to the new healthcare subsidiary; and 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.
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