LITTLE RIVER, S.C., Nov. 08, 2018 (GLOBE NEWSWIRE) -- PCT LTD (OTC Pink: PCTL), a leader in environmentally safe, non-toxic, antimicrobial solutions for global sustainability, has reached significant company milestones through its wholly-owned operating subsidiary Paradigm Convergence Technologies Corporation (PCT Corp.). PCT Corp. has successfully completed two Beta Site trials and installations at major healthcare facilities, which have been converted into long-term agreements for its Annihilyzer® Infection Control Systems. PCT Corp. has also established agreements with several Manufacturing Representatives for geographical territories in the healthcare market. With these milestones achieved, PCT Corp. has commenced the full-scale marketing launch of its hospital infection control systems.
PCT LTD announced today that Jody Read, current Chief Operating Officer, was promoted to Chief Executive Officer of PCT LTD and PCT Corp. Mr. Read will continue his duties as COO until it is determined that the position needs to be filled by additional personnel. Gary Grieco, PCT LTD’s current CEO, will continue as Chairman of the Board of PCT LTD and will focus his attention on setting the course for the company and overseeing the Board.
Since 2014, Gary Grieco in his prior role as PCT LTD’s CEO, has successfully built and secured funding for PCT Corp., as a startup company. He acquired and developed under his leadership its patented, proprietary technologies and directed the development of PCT Corp.’s products to the point in which PCT Corp. now has proof of concept and commercial entry in its target markets.
Read joined PCT Corp. two years ago after successfully founding and managing Customer Service Associates, Inc. (CSA) for 18 years, a $44 Million dollar a year sales and support organization for the healthcare market with over 350 employees providing equipment and services for the largest OEM’s in healthcare. He has over 33 years of medical industry background working for and with the largest manufacturers in the medical equipment business. Read’s skills in management, organization, sales, service and support will provide PCT with the leadership required to move PCT Corp. into the defined markets PCT has initially targeted.
Gary Grieco stated, “Jody has proven himself over the past two years to be a great team leader and his expertise in business management and healthcare equipment technologies will take PCTL and PCT Corp. to the next levels of growth and profitability. I look forward to working with Jody and the entire PCT Team to drive PCT’s growth.”
About PCT LTD
PCT LTD (“PCTL”) focuses its business on acquiring, developing and providing sustainable, environmentally safe disinfecting and tracking technologies products. 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 and now prepares to gain market share.
PCT Corp’s business mission is to profitably provide state-of-the-art Electro-Chemical Activation equipment, disinfecting fluid solutions and PCT Corp's patented tracking system to hospitals and other facilities for the documentable remediation of Hospital Acquired Infections (HAI's) from organisms such as Clostridium difficile (C. diff.), MRSA, VRE, CRE, Klebsiella pneumoniae, and Pseudomonas, as well as to sell ECA fluid solutions to agricultural markets for the remediation, control and suppression of microbial contamination and disease of certain commercial crops. The Company's primary fluid solution, branded Hydrolyte®, is an EPA registered "hospital-level" disinfectant effective against common healthcare pathogens such as Tuberculosis (TB), HIV-1, Hepatitis C, Norovirus, Rhinovirus, Influenza A, Candida albicans, and more; food processing bacteria including E. coli, Listeria, and Salmonella; and organisms of veterinarian concern such as parvovirus, distemper and Bordetella. PCT Corp.'s proprietary equipment product line includes: 1) PCT Hydrolyte® Generators, 2) PCT Annihilyzer® Infection Control Systems, and 3) SurvivaLyte® equipment. The Hydrolyte® Generators produce large volumes of electrolyzed water for the agriculture, oil and gas, and fluid distribution markets. The Annihilyzer® Infection Control Systems, which boast patented RFID material tracking technology, Electrostatic Smart Applicators, on-site automated ECA generators, and Green Seal standards containing stringent performance, health, and sustainability criteria, are ideal for hospitals and healthcare facilities. The SurvivaLyte® unit is a portable, small volume generator with applications such as disaster recovery, emergency preparedness, remote on-site needs, farm and ranch, and personal use. PCT Corp's unique patented systems and human-safe products provide next-generation cleaning, sanitizing, disinfecting and decontaminating fluid solutions to the ever-present problems of microbial infection and infestation.
Forward-Looking Statements
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: any implied or perceived benefits resulting from promotion of Mr. Read; continued positive results relating to the installation of PCT’s Annihilyzer® systems in hospitals; the results of any manufacturers’ representative and/or license agreements, actual sales revenue to be derived from agreements; PCT LTD's and its subsidiary’s business prospects; PCT LTD’s ability to raise sufficient funds to satisfy its working capital requirements; the ability of PCT LTD to execute its business plan or list its common stock on a national stock exchange; benefits of the Annihilyzer® Infection Control Systems, Hydrolyte® generators and fluids; SurvivaLyte equipment, 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 PCT LTD makes in this press release include market conditions and those set forth in reports or documents it files from time to time with the United States Securities Exchange Commission. PCT LTD 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.
Contact:
Gary Grieco, Chairman of the Board
(843) 390-7900 Office
(843) 390-2347 Fax
www.para-con.com
www.pcthealth.com
www.survivalyte.com
Brokers and Analysts:
Chesapeake Group
(410)825-3930
info@chesapeakegp.com