PCT Ltd (OTCMKTS:PCTL) posted revenues of $2.5 million (up 255% YoY) in 2020. It is on the backdrop of increased sales of fluids during the coronavirus pandemic. CEO of PCT, Gary Grieco, said its employees and partners have put in significant efforts to serve the customers and communities across the world strictly adhering to coronavirus protocols.
Accomplishments in 2020
PCT supplied products understanding the unique needs of its customers in 2020. The company will hire key people to strengthen marketing, sales, and manufacturing activities to improve its revenues in the future.
It will implement policies and support its distributors in the next six months to improve market share and strengthen its topline.
The company will focus on global distribution and explore opportunities for its products to boost its business in 2021. It will plan for future expansions measuring the interests of its customers and partners.
Competitively priced products
PCT will give importance to disinfect the surfaces in schools, healthcare facilities, and hospitals for some more time. It will help the company capture new customers and expand its existing customer base by competitively pricing its products and launching environmentally friendly products.
An update on its Grassy Creek, MO testing site
PCT executed oil field testing protocols between January 7 and January 21, 2021, at its Grassy Creek, MO testing site. It will collect empirical data from this site and identify whether its Catholyte effectively improves oil production in shallow wells. The company will implement necessary measures to improve yields at each well.
The company tested six oil-producing wells, which suffered damage earlier, and one injection well in the initial phase. It established a baseline of water/oil (99/1).
PCT injected its Catholyte in the next two weeks and conducted dye tests. It helped the company to improve the water to oil ratio to 97/3. The company halted testing for 18 days because of severe weather.
PCT resumed testing in March 2021, altered the test regimen, and carried out further dye tests. The company achieved an improvement of 250% over the baseline by increasing the water to oil ratio to 92/8.
PCT added three new wells in late March 2021 and improved treatment intervals using different specifications of PCT Catholyte.