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. 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." 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. 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. 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 LTD ("PCTL") focuses its business on acquiring, developing, and providing sustainable, environmentally safe disinfecting, cleaning, and tracking technologies. Krag Capital has become a strategic partner and through its affiliation with The Edge, will assist PCT in marketing and branding. "This money has also provided funds for certain key components that require additional order time due to supply chain delays, as well as expanding R&D in the Oil & Gas, Medical and Agricultural sectors," says Art Abraham, CFO of PCT. The proceeds are being used to make a significant impact on PCTL’s debt as well as purchasing materials to build twenty second generation hospital units and five second generation large volume units.
This investment was committed to above the open market trading price. The Preferred shares are convertible to common stock at $0.015 per share. The private placement consisted of 1,500,000 shares of Convertible Preferred Stock, at $1.50 per share.
After performing extensive due diligence with a Dallas based marketing, branding and business advising firm, Mike Sims, CEO of Krag Capital was lead investor in a $2,250,000 private placement of PCTL’s Series C Convertible Preferred Stock ("Preferred Stock"). LITTLE RIVER, S.C., December 03, 2021-( BUSINESS WIRE)-PCT LTD (PCTL OTC Pink).