PCT LTD (OTC Pink: PCTL) ("PCTL") is excited to announce they have increased production capacity at their Little River, South Carolina facility.
Updating an earlier release (March 25th), the South Carolina facility is now capable of producing up to 10,000 gallons of fluids per day. A marked increase over earlier capabilities. The company is now better positioned to meet the growing demand for its Hypochlorous Acid-based disinfecting fluids.
"Our team has been working around the clock over the last several weeks to make this happen," says Stuart Emmons, PCTL Executive VP of Engineering and R & D. "The South Carolina facility is now better positioned to fulfill the daily orders we have been receiving."
Due in part to the ongoing coronavirus pandemic, the company has seen an exponential increase in sales and inquiries from current and prospective customers. Late last month the company shifted its short-term focus towards fluid production and sales to meet increasing demand.
"It’s supply and demand," according to PCTL CEO Gary Grieco. "The demand is there and now so is the supply. We needed to shift our focus towards where we can have the most impact and do the most good for our customers and the communities they serve. At the same time, this presents an opportunity for us to elevate our profile, grow our business, and showcase how effective our products can be in the ongoing fight against the spread of infectious disease."
The company has also been hiring additional support staff to support growing business operations. Most recently, the company engaged Joseph Tippmann, graduate of The University of Michigan’s Industrial Design and Architecture program, as a new design engineer. Tippmann joined the company on a contract basis initially and has spent the past two weeks performing design updates on Annihilyzer and Hydrolyte Rack systems in addition to helping design a more modular system for easier assembly.
Tippmann is also a co-owner of Werks Manufacturing, a Fort Wayne, Indiana based manufacturing company which PCTL engages for the purpose of manufacturing and assembling parts for use in the company’s Annihilyzer® Infection Control System and other systems.
Werks Manufacturing is expanding their operation and will increase parts and assembly production to meet PCTL’s growing demand. In addition, Werks will also serve as a fluid depot for PCTL’s clients in the northern Midwest part of the United States. Werks will initially be capable of producing up to 4,000 gallons per day of disinfecting fluids, including Hydrolyte®, for sale and use by PCTL to clients in Detroit, Chicago, and throughout the region. This fluid production capacity can be increased as needed to serve growing demand.
"We are continuing our rapid growth plans," says Grieco. "Through strategic partnerships, distribution agreements, and more, we are gaining market share, increasing revenue at a rapid pace, and growing our business both quickly and efficiently."
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.
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: actual sales derived by the Company; actual amount of daily fluid production capability; the increase in fluid production; PCTL's and its subsidiary's business prospects; 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.
Brokers and Analysts: Chesapeake Group