LITTLE RIVER, S.C.--(BUSINESS WIRE)--PCT LTD (OTC Pink: PCTL) is pleased to announce they have added another company to their growing distributor network. BOX Bioscience (www.boxbioscience.com) of Mount Pleasant, SC with operations in North Carolina has recently been approved as a level three distributor.
“We were very excited to learn of this distributorship opportunity because our business was seeking this type of high-quality source for HOCl,” states BOX Bioscience CEO, Ryan Cowell. “Now we’ve found it with PCTL.”
Cowell further expanded, “Our team arrived at the facilities in Little River, SC and spent a good deal of time learning about PCTL’s equipment and fluid solutions. When we left, we had secured our business agreements and made arrangements for the delivery of our high-volume equipment on that same day.”
“We’re happy to welcome BOX Bioscience into our growing distributor family,” says PCT Corp. President Bill Prince. “Their knowledge of this market space coupled with their current business operations give them an advantage. As a level three distributor, BOX joins a select, but growing group within our distributor network.”
The company currently has three levels of distributorships, with active entities operating at each level.
- Level 1. A level 1 distributorship is a reselling distributor. Companies at this level purchase fluids from PCTL and resell it under the Hydrolyte® name.
- Level 2. A distributor at this level requires a supplemental registration with the US EPA. At this level, distributors are purchasing larger volumes of fluids than level 1 distributors. Distributors at this level may resell the product under the Hydrolyte® name or white-label the product under their own brand.
- Level 3. The highest level, distributors at this stage are similar to distributors at level 2; however, these companies are producing distributors which generate fluids for resale under their own brand. Distributors at this level also typically enter into a system and service contract for ongoing service of their equipment.
At all distributorship levels, companies undergo a vetting and training process. Specific terms may be unique for each company; however, the typical distributor agreement includes a distributor fee and a minimum quantity requirement for sale and/or production of fluids. Royalties, equipment service contracts, and other terms may apply based on the distributor level.
“We are continuing to expand our network,” Bill Prince explains. “We see a growing need across many regions and industries for our product and that continues to generate a high level of interest from potential distributors.”
“We have been firing on all cylinders,” says PCTL CEO Gary Grieco. “With our growing network of distributors, additional healthcare installations, and growing interest in other sectors, we’ve been able to diversify and grow our revenue streams dramatically these past several months. Sales and revenue in Q2 have been strong on all fronts and look poised to carry through the end of the quarter and throughout the year.”
The company is also providing an update on additional hospital installations in New York City. Relating to a previous release, installation of PCTL’s Annihilyzer® Infection Control Systems commenced with an installation last week (week of 5/24). An additional installation is being performed today, June 5th. Both installations occurred within large hospitals owned by a major NYC healthcare system and were performed through PCTL’s primary healthcare distributor ACE Janitorial Services.
In addition, the company continues efforts to finalize its 10-K annual report, currently past due, in coordination with outside accountants and its independent registered public accounting firm.
“We take very seriously the importance of getting and remaining current with regard to our filings,” says CEO Gary Grieco. “We are also aware of, and take very seriously, the potential effects on shareholder value. We remain committed to our shareholders and thank them for their patience. Rest assured that tremendous effort is being made on all fronts to complete our annual report and to file it as soon as it is completed, and consent from the auditors has been obtained.”
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: 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 10-K and 2020 Q1 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.