EX-99.1 2 pctl1004form8kexh99_1.htm EXHIBIT 99.1

Exhibit 99.1

October 4, 2023

 

Dear valued PCT LTD stockholders,

 

We have received stockholder requests, specifically for information regarding PCT LTD’s current SEC filing status and financial information.

SEC Filing Status

Until PCT LTD’s 2022 10-K and subsequent 2023 10-Q financial statements can be audited, its SEC filing status will remain delinquent. Currently, the company is not in the financial position to pay the estimated $90,000 in audit and accounting fees for the 2022 10-K, nor the estimated $25,000 for each subsequent 2023 10-Q for a total of $165,000.

The company is utilizing funds to purchase parts to assemble equipment to sell and lease the equipment within the Oil & Gas and other industries, whereby generating revenue to begin the audit and accounting process and subsequent SEC report filings.

 

Unaudited and Unreviewed Consolidated Financial Information (000’s)

      1st Qtr   2nd Qtr   3rd Qtr   Total 2023
  FYE 2022   3/31/2023   6/30/2023   9/30/2023   To-Date
                   
Revenue $1,265   $625   $317   $348   $1,290
                   
Operating Expenses ($3,357)   ($400)   ($226)   ($271)   ($897)
                   
Other Income (net) $1,845   ($156)   $435   ($122)   $157
                   
Income (Loss) before income tax ($247)   $69   $526   ($45)   $550

 

 

Art Abraham, PCT LTD’s Chief Financial Officer’s podcast will be uploaded to the pctl.com website on October 5th. Topics to be covered are:

·21st Century Energy
oFluid producing equipment in Texas and Oklahoma
oSales / Project Manager
oFluid Sales / Orders
·PCT Corporation
oCannabis industry
oSales of Equipment and parts
oGovernment Contracts
oR & D to create and develop fluid producing equipment suitable for:
§Hotels
§Correctional facilites
·Items of interest affecting the 2023 financial statements:
oAuctus Settlement Agreement – April 2023
oSale of the Healthcare division - May 2023
oMajor Debt reduction - May 2023

 

We appreciate all our stockholders’ support during this past year – and several years prior. We want you to know that we are committed to making PCT LTD one of the top companies in our industry. We have and will continue to strive to increase stockholder value by seeking new opportunities while continuing to strengthen our company as we take PCT LTD to new heights during the remainder of 2023 and beyond.