PCT LTD reports 640% increase in 2020 Q2 revenue over last year
September 2, 2020
LITTLE RIVER, SC – PCT LTD has filed its a 2020 Second Quarter 10-Q report for the period ending June 30, 2020, and is providing this shareholder update on statistical facts from that filing. Highlighting the filing, PCTL is excited to report $881,172 in revenue for the second quarter; a 640% increase over the same period in 2019. The company welcomes shareholders to view the complete filing at www.sec.gov or by following the Investor Relations link on www.para-con.com. However, selected highlights include, but are not limited to:
- Over 85% increase in total current assets YTD
- Over 640% revenue growth over the same period in 2019
- $1,153,354 YTD revenue compared to $314,819 for first 6 months of 2019 (266% increase)
- Accounts Receivable increased to $319,128 compared to $127,660 in Q1 of 2020 (an increase of 150%) and $121,129 in Q2 of 2019 (an increase of 163%)
- Net loss $213,073 compared to $408,535 over the same period in 2019 (improvement of more than 47%)
- Diluted Net loss Per Share of 0.00 compared to (0.07)
Revenue Increases by 640% over Q2 of 2020
The company posted revenues of $881,172 in the second quarter, representing a 640% increase over the same quarter in 2019 and a 223% increase over Q1 of 2020. The total amount of revenue generated represents an all-time high for PCTL.
The company is reporting across the board increases in revenue generating activities, including product sales, equipment leases, and licensing fees. The largest increase comes from sale of products, including the company’s flagship Hydrolyte® disinfectant (US EPA registration 92108-1).
The company recently added a new distributor to their growing network and announced the placement of 5 additional rack-mounted Annihilyzer® Infection Control Systems to an existing NYC hospital client. The company is preparing for additional machine installations throughout the rest of 2020 and plans on adding additional distributorships as well.
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.
– BUSINESS WIRE
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.
