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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

☑

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended ~~September~~March 3031, ~~2021~~2022

☐

TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

Commission file number: 000-31549

PCT LTD

(Exact name of registrant as specified in its charter)

Nevada	90-0578516
(State or other jurisdiction of incorporation or organization)	(I.R.S. Employer Identification No.)

4235 Commerce Street Little River, South Carolina	29566
(Address of principal executive offices)	(Zip Code)

(843) 390-7900

(Registrant'’s telephone number, including area code)

Securities ~~registered~~ registered pursuant to Section 12(b) of the Act: None

Title of each class Trading Symbol(s) Name of each exchange on which registered None N/A N/A

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐

Indicate by check mark whether the registrant has submitted electronically ~~and posted on its corporate Web site, if any,~~ every Interactive Data File required to be submitted ~~and posted~~ pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit ~~and post~~ such files). Yes ☑ No ☐ ~~The registrant does not have a Web site.~~

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or emerging growth company. See the definitions of "“large accelerated filer,"” "“accelerated filer,"” "“smaller reporting company,"” and "“emerging growth company"” in Rule 12b-2 of the Exchange Act:

Large accelerated filer ☐

Non-accelerated filer ☑

Accelerated filer ☐

Smaller reporting company ☑

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act) Yes ☐ No ☑

The number of shares outstanding of the registrant'’s common stock as of ~~November~~May 1511, ~~2021~~2022 was ~~795~~790,~~501~~924,~~229~~ 690 which does not include ~~204,123,771 shares of~~ common stock reserved against default on convertible debt ~~and 750,000 shares for vesting of executive shares~~.

TABLE OF CONTENTS

Part I - Financial Information		Page
Part I – Financial Information		Page
Item 1.	Condensed Consolidated Financial Statements (Unaudited)	3
Item 2.	Management'’s Discussion and Analysis of Financial Condition and Results of Operations	26
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	29
Item 4.	Controls and Procedures	29
Part II - Other Information
Part II – Other Information
Item 1.	Legal Proceedings	30
Item 1A.	Risk Factors	3031
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	3031
Item 3.	Defaults Upon Senior Securities	31
Item 4.	Mine Safety Disclosures	31
Item 5.	Other Information	3132
Item 6.	Exhibits	32
	Signatures	33

PART I -– FINANCIAL INFORMATION

ITEM 1. FINANCIAL STATEMENTS

The financial information set forth below with respect to our statements of operations, stockholders'’ equity (deficit), and cash flows for the three ~~and nine~~-month periods ended ~~September 30~~March 31, ~~2021~~ 2022, and ~~2020~~2021 is unaudited. This financial information, in the opinion of management, includes all adjustments consisting of normal ~~recurring~~ recurring entries necessary for the fair presentation of such data. The results of operations for the three ~~and nine~~-month periods ended ~~September~~ 30March 31, ~~2021~~ 2022 and ~~2020~~2021 are not necessarily indicative of results to be expected for any subsequent period.

PCT LTD

Condensed Consolidated Balance Sheets

	September 30, 2021			December 31, 2020
		(Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	239,327		$	115,196
Accounts receivable, net		163,147			349,526
Inventory		12,318			6,188
Prepaid expenses		168,136			274,736
Other current assets		18,850			2,110
Total current assets		601,778			747,756
PROPERTY AND EQUIPMENT
Property and equipment, net		320,131			358,719
OTHER ASSETS
Intangible assets, net		3,171,658			3,400,024
Operating lease right-of-use asset		92,772			118,385
Deposits		-			9,726
Total other assets		3,264,430			3,528,135
TOTAL ASSETS	$	4,186,339		$	4,634,610
LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable	$	60,854		$	272,978
Accrued expenses - related parties		82,038			139,280
Accrued expenses		707,450			622,040
Deferred revenue		1,075			1,075
Advances payable		1,450,000			-
Current portion of operating lease liability		40,127			34,965
Current portion of notes payable - related parties, net		154,271			789,214
Current portion of notes payable, net		231,504			384,380
Current portion of convertible notes payable, net		1,876,338			1,554,503
Derivative liability		1,561,420			7,102,801
Total current liabilities		6,165,077			10,901,236
LONG-TERM LIABILITIES
Convertible notes payable, net of current portion and discounts		-			53,500
Operating lease liability, net of current portion		52,645			83,420
TOTAL LIABILITIES	$	6,217,722			11,038,156
MEZZANINE EQUITY
Preferred series A stock, $0.001 par value; 1,000,000 authorized; 500,000 and 500,000 issued and outstanding at September 30, 2021 and December 31, 2020, respectively		60,398			60,398
Preferred series B stock, $0.001 par value; 1,000,000 authorized; 1,000,000 and 1,000,000 issued and outstanding at September 30, 2021 and December 31, 2020, respectively		158,247			158,247
Preferred series C stock, $0.001 par value; 5,500,000 authorized; nil and 40,000 issued and outstanding at September 30, 2021 and December 31, 2020, respectively		-			40,000
TOTAL MEZZANINE EQUITY		218,645			258,645
STOCKHOLDERS' DEFICIT
CCommon stock, $0.001 par value; 1,000,000,000 authorized; 780,126,229 and 722,487,846 issued and outstanding at September 30, 2021 and December 31, 2020, respectively		780,126			722,488
Additional paid-in-capital		24,349,886			23,202,933
Accumulated deficit		(27,380,040	)		(30,587,612	)
TOTAL STOCKHOLDERS' DEFICIT		(2,250,028	)		(6,662,191	)
TOTAL LIABILITIES, MEZZANINE EQUITY AND STOCKHOLDERS' DEFICIT	$	4,186,339		$	4,634,610

(Unaudited)

	March 31, 2022			December 31, 2021
		(Unaudited)
ASSETS
CURRENT ASSETS
Cash and cash equivalents	$	23,618		$	116,497
Accounts receivable, net		85,025			96,022
Inventory		10,255			36,954
Prepaid expenses		14,382			53,090
Other current assets		8,200			8,200
Total current assets		141,480			310,763

PROPERTY AND EQUIPMENT
Property and equipment, net		1,053,593			762,054

OTHER ASSETS
Intangible assets, net		3,023,554			3,098,021
Operating lease, right of use asset		73,629			83,420
Total other assets		3,097,183			3,181,441

TOTAL ASSETS	$	4,292,256		$	4,254,258

LIABILITIES AND STOCKHOLDERS' DEFICIT
CURRENT LIABILITIES
Accounts payable	$	224,663		$	72,873
Accrued expenses – related parties		228,077			226,844
Accrued expenses		727,727			691,364
Advances payable		300,000			—
Operating lease liability		43,985			42,012
Current portion of notes payable – related parties, net		80,850			85,850
Current portion of notes payable, net		398,824			133,144
Current portion of convertible notes payable, net		391,407			480,808
Derivative liability		1,955,157			3,044,034
Total current liabilities		4,350,690			4,776,929

Convertible notes payable, net of current portion and discount		1,465,300			1,465,300
Operating lease liability, net of current portion		29,644			41,408
TOTAL LIABILITIES		5,845,634			6,283,637

MEZZANINE EQUITY
Preferred series A stock, $0.001 par value; 1,000,000 authorized; 500,000 issued and outstanding at March 31, 2022 and December 31, 2021, respectively		60,398			60,398
Preferred series B stock, $0.001 par value; 1,000,000 authorized; 1,000,000 issued and outstanding at March 31, 2022 and December 31, 2021, respectively		158,247			158,247
Preferred series C stock, $0.001 par value; 1,500,000 authorized; 1,500,000 issued and outstanding at March 31, 2022 and December 31, 2021, respectively		2,250,000			2,250,000
TOTAL MEZZANINE EQUITY		2,468,645			2,468,645

STOCKHOLDERS’ DEFICIT
Common stock, $0.001 par value; 1,000,000,000 authorized; 790,924,690 issued and outstanding at March 31, 2022 and December 31, 2021, respectively		790,924			790,924
Additional paid-in-capital		24,317,997			24,310,045
Accumulated deficit		(29,130,944	)		(29,598,993	)
TOTAL STOCKHOLDERS’ DEFICIT		(4,022,023	)		(4,498,024	)

TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$	4,292,256		$	4,254,258

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

PCT LTD

Condensed Consolidated Statements of Operations

(Unaudited)

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
	For the Three Months Ended March 31,
	2021			2020			2021			2020
	2022			2021
REVENUES
Product	$	3365,~~279~~862		$	~~488~~89,~~021~~263		$	~~204,138~~		$	~~1,233,058~~
Licensing		~~75,347~~—			~~119~~31,~~000~~750			~~225,122~~			~~203,000~~
Equipment leases		~~258~~234,~~104~~604			~~177~~274,~~067~~506			~~802,132~~			~~501,384~~
Total Revenues		~~366~~300,~~730~~466			~~784~~395,~~088~~519			~~1,231,392~~			~~1,937,442~~
OPERATING EXPENSES
General and administrative		1714,~~031,072~~393			~~614~~893,~~667~~451			~~2,583,139~~			~~1,755,495~~
Research and development		144,~~783~~301			159,~~547~~199			~~29,738~~			~~20,547~~
Cost of product, licensing and equipment leases		85,591			54,901			225,960			619,606
Costs of product, licensing and equipment leases		22,418			52,901
Depreciation and amortization		98106,~~364~~471			9088,~~999~~122			~~295,092~~			~~255,368~~
Total operating expenses		1847,~~229,810~~583			~~776~~1,~~114~~043,673			~~3,133,929~~			~~2,651,016~~
Income (loss) from operations		(863,080	)		7,974			(1,902,537	)		(713,574	)
Loss from operations		(547,117	)		(648,154	)
OTHER INCOME (EXPENSE)
Gain (loss) on change in fair value of derivative liability		457,116			57,054			1,749,277			(15,253,543	)
Gain/(Loss) on change in fair value of derivative liability		1,028,251			(257,919	)
Gain (loss) on settlement of debt		361,357			(3,670,393	)		3,689,055			9,993,528
Gain/(Loss) on settlement of debt		60,626			316,401
Interest expense		(~~101~~73,~~580~~711	)		(~~200~~178,~~593~~356	)		~~(378,223~~	)		~~(1,094,934~~	)
Miscellaneous income		-			-			50,000			-
Misc. income		—			50,000
Total other income (expense)		~~716~~1,~~893~~015,166			(369,~~813,932~~874	)		~~5,110,109~~			~~(6,354,949~~	)
Income (loss) before Income taxes		(146,187	)		(3,805,958	)		3,207,572			(7,068,523	)
Income (loss) before income taxes		468,049			(718,028	)
Income taxes		-—			-—			-			-
NET INCOME (LOSS)	$	~~(146~~468,~~187~~049	)	$	(3718,~~805,958~~028	)	$	~~3,207,572~~		$	~~(7,068,523~~	)
Preferred series C stock deemed dividends		-			-			-			(270,000	)
Basic income (loss) per share	$	0.00		$	(0.00	)
NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS'	$	(146,187	)	$	(3,805,958	)	$	3,207,572		$	(7,338,523	)
Diluted income (loss) per share	$	(0.00	)	$	(0.00	)
Basic income (loss) per share	$	(0.00	)	$	(0.01	)	$	0.00		$	(0.01	)
Basic weighted average shares outstanding		790,924,690			751,832,583
Diluted income (loss) per share	$	(0.00	)	$	(0.01	)	$	(0.00	)	$	(0.01	)
Diluted weighted average shares outstanding		898,859,515			751,832,583
Basic weighted average shares outstanding		773,082,751			608,601,357			760,229,694			575,094,639
Diluted weighted average shares outstanding		773,082,751			608,601,357			1,024,432,537			575,094,639

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

PCT LTD

Condensed Consolidated Statements of Stockholders'’ Equity (Deficit)

For the Three ~~and Nine~~ -Months Ended ~~September~~March 3031, ~~2021~~ 2022 and ~~2020~~2021

(Unaudited)

					Additional					Total Stockholders'
										Total
	Common Stock				Additional Paid-in		Accumulated			Stockholders’ Equity
	Shares		Amount		Capital		Deficit			(Deficit)
Balance - December 31, 2019		498,880,300	$	498,881	$	15,872,330	$	(26,505,567	)	$	(10,134,356	)
Balance – December 31, 2020		722,487,846	$	722,488	$	23,202,933	$	(30,587,612	)	$	(6,662,191	)
Common stock issued for services		152,~~525~~500,000		152,~~525~~500		~~103~~74,~~538~~276		-—			~~119~~76,~~063~~776
Common stock issued in settlement of debt		250,000		250		7,975		-			8,225
Common stock issued in settlement of debt, related parties		4,466,508		4,466		648,844		—			653,310
Common stock issued in conversion of convertible notes payable		3625,~~050~~000,000		3625,~~050~~000		~~360,660~~—		-—			~~396~~25,~~710~~000
Beneficial conversion feature on preferred series C stock		-		-		270,000		(270,000	)		-
Conversion of preferred series C stock		4,000,000		4,000		36,000		—			40,000
Net loss for the three-months ended March 31, 2020		-		-		-		(10,281,648	)		(10,281,648	)
Net loss for the three-months ended March 31, 2021		—		—		—		(718,028	)		(718,028	)
Balance - March 31, 2020		550,705,300	$	550,706	$	16,614,503	$	(37,057,215	)	$	(19,892,006	)
Balance – March 31, 2021		758,454,354	$	758,454	$	23,962,053	$	(31,305,640	)	$	(6,585,133	)
Common stock issued for cash		4,250,000		4,250		135,750		-			140,000
Balance – December 31, 2021		790,924,690	$	790,924	$	24,310,045	$	(29,598,993	)	$	(4,498,024	)
Common stock issued in settlement of debt		15,000,000		15,000		826,500		-			841,500
Stock-based compensation		—		—		7,952		—			7,952
Common stock issued in cashless exercise of warrants		9,246,186		9,246		420,702		-			429,948
Net income for the three-months ended March 31, 2022		—		—		—		468,049			468,049
Common stock issued in conversion of preferred series C stock		5,000,000		5,000		45,000		-			50,000
Balance – March 31, 2022		790,924,690	$	790,924	$	24,317,997	$	(29,130,944	)	$	(4,022,023	)
Stock-based compensation		-		-		14,182		-			14,182
Net income for the three-months ended June 30, 2020		-		-		-		7,019,083			7,019,083
Balance - June 30, 2020		584,201,486	$	584,202	$	18,056,637	$	(30,038,132	)	$	(11,397,293	)
Common stock issued for services		10,000,000		10,000		384,038		-			394,038
Common stock issued in conversion of convertible notes payable		45,736,360		45,736		497,222		-			542,958
Common stock issued in conversion of preferred series C stock		35,000,000		35,000		359,000		-			394,000
Premium related to conversion feature on note payable		-		-		4,160,685		-			4,160,685
Net loss for the three-months ended September 30, 2020		-		-		-		(3,805,958	)		(3,805,958	)
Balance - September 30, 2020		674,937,846	$	674,938	$	23,457,582	$	(33,844,090	)	$	(9,711,570	)
					Additional					Total Stockholders'
	Common Stock				Paid-in		Accumulated			Equity
	Shares		Amount		Capital		Deficit			(Deficit)
Balance - December 31, 2020		722,487,846	$	722,488	$	23,202,933	$	(30,587,612	)	$	(6,662,191	)
Common stock issued for services		2,500,000		2,500		74,276		-			76,776
Common stock issued in settlement of debt		4,466,508		4,466		648,844		-			653,310
Common stock issued in conversion of convertible notes payable		25,000,000		25,000		-		-			25,000
Common stock issued in conversion of preferred series C stock		4,000,000		4,000		36,000		-			40,000
Net loss for the three-months ended March 31, 2021		-		-		-		(718,028	)		(718,028	)
Balance - March 31, 2021		758,454,354	$	758,454	$	23,962,053	$	(31,305,640	)	$	(6,585,133	)
Common stock issued for cash		8,750,000		8,750		166,250		-			175,000
Common stock issued for services		1,000,000		1,000		32,174		-			33,174
Common stock issued in cashless exercise of warrants		1,921,875		1,922		32,672		-			34,594
Net income for the three-months ended June 30, 2021		-		-		-		4,071,787			4,071,787
Balance - June 30, 2021		770,126,229	$	770,126	$	24,193,149	$	(27,233,853	)	$	(2,270,578	)
Common stock issued for services		2,000,000		2,000		40,737		-			42,737
Common stock issued in conversion of convertible notes payable		8,000,000		8,000		116,000		-			124,000
Net loss for the three-months ended September 30, 2021		-		-		-		(146,187	)		(146,187	)
Balance - September 30, 2021		780,126,229	$	780,126	$	24,349,886	$	(27,380,040	)		(2,250,028	)

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

PCT LTD

Condensed Consolidated Statements of Cash Flows

(Unaudited)

	For the Nine Months Ended September 30,
	For the Three-Months Ended March 31,
	2021			2020
	2022			2021
Cash Flows from Operating Activities
Net loss	$	3,207,572		$	(7,068,523	)
Net income (loss)	$	468,049		$	(718,028	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization		~~295~~106,~~092~~471			~~255~~88,~~368~~122
Amortization of debt discounts		240,413			353,012
Amortization of debt discount		16,463			78,804
Amortization of operating lease right-of-use asset		39,182			-
Common stock issued for services		—			14,027
Common stock issued for services		267,830			527,283
(Gain) loss on change in fair value of derivative liability		(1,028,251	)		257,919
Loss on change in fair value of derivative liability		(1,749,277	)		15,253,543
Amortization of right of use asset		9,791			8,149
(Gain) loss on settlement of debt		(3,689,055	)		(9,993,528	)
Amortization of prepaid expense		—			146,465
Default penalties on convertible notes payable		15,172			13,762
(Gain) loss on settlement of debt		(60,626	)		(316,401	)
Bad debt expense		182,700			-
Default penalties on convertible notes		—			15,172
Stock-based compensation		7,952			—
Changes in operating assets and liabilities:
Accounts receivable		310,~~679~~997			~~(157~~151,~~076~~083	)
Inventory		(626,~~130~~699	)		~~26,669~~(841	)
Prepaid expenses		(838,~~543~~708	)		~~(241,764~~—	)
Other assets		(16,740	)		(3,853	)
Deposits		—			(5,500	)
Deposits		9,726
Operating lease liability		(9,791	)		(4,279	)
Operating lease liability		(39,182	)		-
Accrued expenses		36,363			(10,885	)
Accounts payable		(212,125	)		(87,369	)
Accrued expenses – related party		1,233			13,900
Accrued expenses - related party		14,887			27,071
Accounts payable		151,790			(41,639	)
Accrued expenses		165,479			807,049
Net cash used in operating activities		(224,152	)		(323,932	)
Net cash used in operating activities		(1,279,320	)		(288,356	)
Cash Flows from Investing Activities
Purchases of property and equipment		(28,138	)		(127,212	)
Purchase of property and equipment		(323,543	)		—
Net cash provided by investing activities		(28,138	)		(127,212	)
Net cash used in investing activities		(323,543	)		—
Cash Flows from Financing Activities
Proceeds from notes payable - related parties		-			3,500
Proceeds from notes payable		291,015			207,575
Proceeds from notes payable		410,377			428,030
Proceeds from convertible notes payable		—			555,000
Proceeds from convertible notes payable		920,000			613,000
Proceeds from advances payable		300,000			—
Proceeds from advances payable		1,450,000			-
Repayment of convertible notes payable		(97,849	)		(218,500	)
Proceeds from sale of common stock		175,000			140,000
Repayment of notes payable		(33,350	)		(256,486	)
Proceeds from preferred series C stock subscriptions		-			270,000
Repayment of notes payable – related parties		(5,000	)		(25,000	)
Repayments of notes payable - related parties		(53,763	)		(32,286	)
Net cash provided by financing activities		454,816			262,589
Repayments of notes payable		(796,036	)		(556,153	)
Net change in cash		(92,879	)		(61,343	)
Repayments of convertible notes payable		(673,989	)		(356,888	)
Cash and cash equivalents at beginning of period		116,497			115,196
Net cash provided by financing activities		1,431,589			509,203
Cash and cash equivalents at end of period	$	23,618		$	53,853
Net change in cash		124,131			93,635
Cash and cash equivalents at beginning of period		115,196			67,613
Cash and cash equivalents at end of period	$	239,327		$	161,248
Supplemental Cash Flow Information
Cash paid for interest	$	7256,~~763~~484		$	7743,~~687~~339
Cash paid for income taxes	$	-—		$	-—
Non-Cash Investing and Financing Activities:
Non-cash investing and financing activities:
Preferred series C stock deemed dividend	$	-		$	270,000
Original debt discount against notes payable	$	39,085		$	—
Original debt discounts against notes payable	$	174,435		$	95,562
Common stock issued in conversion of convertible notes payable	$	—		$	25,000
Original debt discounts against convertible notes payable	$	12,000		$	201,388
Common stock issued for prepaid expenses	$	—		$	62,750
Common stock issued for services	$	81,740		$	-
Preferred series C converted to common stock	$	—		$	40,000
Common stock issued in conversion of convertible notes payable	$	149,000		$	939,668
Common stock issued in settlement of notes payable to related parties	$	—		$	653,309
Common stock issued in settlement of notes payable to related parties		653,310			-
Common stock issued in conversion of preferred series C stock	$	—		$	77,998
Common stock issued in cashless exercise of warrants	$	34,594		$	429,948
Common stock issued in conversion of preferred series C stock	$	40,000		$	444,000
Property plant and equipment transferred to inventory	$	-		$	26,669

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

PCT LTD

Notes to the Unaudited

Condensed Consolidated Financial Statements

~~September 30,~~March ~~2021~~31, 2022

NOTE 1. BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

The unaudited interim condensed consolidated financial statements of PCT LTD (the "“Company"”) have been prepared in accordance with United States generally accepted accounting principles for interim financial information and with the instructions to Form 10-Q and reflect all adjustments which, in the opinion of management, are necessary for a fair presentation of our balance ~~sheets~~sheet, statements of operations, stockholders'’ equity (deficit), and cash ~~flows~~ flows for the periods presented. All such adjustments are of a normal recurring nature. The results of operations for the interim period are not necessarily indicative of the results to be expected for a full year.

Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the financial statements and notes thereto included in the Company'’s December 31, ~~2020~~2021 audited financial statements as reported in ~~its~~ its Form 10-K/A, filed on ~~September~~March 1031, ~~2021~~2022.

COVID-19

In December 2019 COVID-19 emerged in Wuhan, China. While initially the outbreak was largely concentrated in China and caused significant disruptions to its economy, it has now spread to almost all other countries, including the United States, and infections have been reported globally. Because COVID-19 infections have been reported throughout the United States, certain federal, state and local governmental authorities have issued stay-at-home orders, proclamations and/or directives aimed at minimizing the spread of COVID-19. Additional, more restrictive proclamations and/or directives may be issued in the future.

The ultimate impact of the COVID-19 pandemic on the Company'’s operations is unknown and will depend on future developments, which are highly uncertain and cannot be predicted with confidence, including the duration of the COVID-19 outbreak. Any resulting financial impact cannot be reasonably estimated at this time but may have a material impact on our business, financial condition and results of operations. The significance of the impact of the COVID-19 outbreak on the Company'’s businesses and the duration for which it may have an impact cannot be determined at this time. At a minimum, the COVID-19 pandemic caused the Company to restrict travel of its personnel and to initiate distributor installations of certain of the Company'’s equipment, as possible. The Company adapted to the immediate need for its US EPA registered disinfectant at the end of March and beginning of April, 2020, bybut installing greater storage reserves and by assembling more of it higher-volume equipment to produce the hospital grade disinfectant known as Hydrolyte®. There were hard costs ~~associated~~associates with these adaptations to the Little River, SC facility, but the Company continues to benefit from its fluid production capacities over the longer term. As the Federal, state ~~and~~ and other restrictions associated with the pandemic have lessened, the Company is able to act more effectively in obtaining new contracts for its healthcare equipment, the Annihilyzer® ~~and other equipment~~.

Nature of Operations

PCT LTD (~~formerly Bingham Canyon Corporation, (~~the " “Company,"” ~~"PCT Ltd,"~~ or ~~"Bingham"~~“PCT LTD”), a Delaware corporation, was formed on February 27, 1986. The Company changed its domicile to Nevada on August 26, 1998. The Company acquires, develops and provides sustainable, environmentally safe disinfecting, cleaning and tracking technologies. The Company specializes in providing cleaning, sanitizing, and disinfectant fluid solutions and fluid-generating equipment that creates environmentally safe solutions for global sustainability.

~~Paradigm~~On isAugust ~~located~~31, ~~in Little River~~2016, SCthe ~~and~~Company ~~was~~entered ~~formed~~into ~~June~~a 6,Securities ~~2012~~Exchange ~~under~~Agreement ~~the~~with ~~name~~Paradigm ofConvergence ~~EUR-ECA,~~Technologies ~~Ltd.~~Corporation ~~On September 11~~(“Paradigm,” ~~2015,~~or ~~its~~“PCT ~~Board~~Corp.”) to ofeffect ~~Directors~~the ~~authorized~~acquisition ~~EUR-ECA~~of ~~Ltd~~Paradigm toas ~~file~~a ~~with~~wholly-owned ~~the~~subsidiary. ~~Nevada Secretary~~Paradigm ofis ~~State~~located toin ~~change~~Little ~~its~~River, ~~name~~SC, towas ~~Paradigm~~formed ~~Convergence~~June ~~Technologies~~6, ~~Corp.~~2012, and ~~Paradigm~~ is a technology licensing company specializing in environmentally safe solutions for global sustainability. ~~The~~Paradigm ~~company~~ holds a patent, intellectual property and/or distribution rights to innovative products and technologies. Paradigm provides innovative products and technologies for eliminating biocidal contamination from water supplies, industrial fluids, hard surfaces, food -processing equipment, and medical devices. Paradigm'’s overall strategy is to market new products and technologies through the use of equipment leasing, joint ventures, licensing, distributor agreements and partnerships.

Effective on February 29, 2018, the Company ~~changed~~ changed its name from Bingham Canyon Corporation to PCT LTD. to more accurately identify the Company'’s direction and to develop the ~~complimentary~~ complementary relationship and association with its wholly-owned operating company, Paradigm ~~Convergence Technologies Corporation ("Paradigm" or "PCT Corp~~.~~").~~

On July 11, 2021, the Company incorporated two wholly-owned subsidiaries, Disruptive Oil and Gas Technologies Corp. (“Disruptive”) and Technologies Development Corp., both in the State of Nevada. On October 20, 2021, the Company sold a 53.75% interest in Disruptive in consideration for the assignment of certain patents to Disruptive and realized no gain or loss on the sale.

Significant Accounting Policies

There have been no changes to the significant accounting policies of the Company from the information provided in Note 1 of the Notes to the Consolidated Financial Statements in the Company's most recent Form 10-K.

~~Fair~~Basic ~~Value~~and ~~Measurements~~Diluted Income (Loss) Per Share

~~The~~Basic ~~Company~~income ~~follows~~(loss) ~~ASC~~per ~~820, "Fair Value~~share ~~Measurements~~is ~~and~~computed ~~Disclosures", which~~by ~~defines~~dividing net ~~fair~~income ~~value~~(loss) asby the ~~exchange~~weighted-average ~~price~~number ~~that~~of ~~would~~common beshares ~~received~~outstanding ~~for~~during anthe ~~asset or~~period. Diluted ~~paid~~income to(loss) ~~transfer~~per ashare is ~~liability~~computed ~~(an~~by ~~exit~~dividing ~~price~~net income (loss) inby the ~~principal~~weighted-average ornumber ~~most~~of ~~advantageous~~common ~~market~~shares outstanding for the ~~asset~~period orand, ~~liability~~if ~~in an orderly~~dilutive, ~~transaction~~potential ~~between~~common ~~market~~shares ~~participants~~outstanding onduring the ~~measurement date~~period. ~~Valuation~~Potentially ~~techniques~~dilutive ~~used~~securities toconsist ~~measure~~of ~~fair~~the ~~value~~incremental ~~must~~common ~~maximize~~shares ~~the use~~issuable upon exercise of ~~observable~~common ~~inputs~~stock equivalents such as options, warrants, convertible notes payable, preferred series A stock and ~~minimize~~preferred series C stock. Potentially dilutive securities are excluded from the ~~use~~computation ofif ~~unobservable~~their ~~inputs.~~effect Ais ~~fair~~anti-dilutive. ~~value~~As ~~hierarchy~~a ~~based~~result, onfor the three ~~levels~~months ofended ~~inputs~~March 31, of2022, there were outstanding common share equivalents which ~~the first~~amounted ~~two~~to ~~are~~256,399,846 ~~considered~~shares ~~observable~~of ~~and~~common stock that were not included in the ~~last~~calculation as their effect is ~~considered~~anti-dilutive. ~~unobservable~~For fiscal periods with net losses, isthese ~~used~~common toshare ~~measure~~equivalents were ~~fair~~not ~~value:~~included in the computation of diluted loss per share as their effect would have been anti-dilutive.

• Level 1 - Valuations for assets and liabilities traded in active markets from readily available pricing sources such as quoted prices in active markets for identical assets or liabilities.

	Three months ended March 31, 2022 $			Three months ended March 31, 2021 $
Numerator:
Net income (loss)		468,049			(7,338,523	)
(Gain) loss on change in fair value of derivative liability		(942,201	)		—
Gain on settlement of debt		(60,626	)		—
Adjusted net income (loss)		(534,778	)		(7,338,523	)

Denominator: Weighted average shares outstanding used in computing net income (loss) per share
Basic		790,924,690			751,832,583

Effect of dilutive warrants		102,687,429			—
Effect of convertible note weighted shares		5,247,396			—
Diluted		898,859,515			751,832,583

Net income (loss) per share applicable to common shareholders:
Basic	$	0.00		$	(0.00	)
Diluted	$	(0.00	)	$	(0.00	)

• Level 2 - Observable inputs (other than Level 1 quoted prices) such as quoted prices in active markets for similar assets or liabilities, quoted prices in markets that are not active for identical or similar assets or liabilities, or other inputs that are observable or can be corroborated by observable market data.

• Level 3 - Unobservable inputs that are supported by little or no market activity and that are significant to determining the fair value of the assets or liabilities, including pricing models, discounted cash flow methodologies and similar techniques.

The carrying values of our financial instruments, including, cash and cash equivalents, accounts receivable, inventory, prepaid expenses, accounts payable and accrued expenses approximate their fair value due to the short maturities of these financial instruments.

Derivative liabilities are determined based on "Level 3" inputs, which are significant and unobservable and have the lowest priority. The recorded values of all other financial instruments approximate their current fair values because of their nature and respective relatively short maturity dates or durations.

Our financial assets and liabilities carried at fair value measured on a recurring basis as of September 30, 2021, consisted of the following:

	Total fair value at September 30, 2021 $		Quoted prices in active markets (Level 1) $		Significant other observable inputs (Level 2) $		Significant unobservable inputs (Level 3) $
Description:
Derivative liability (1)		1,561,420		-		-		1,561,420
Total		1,561,420		-		-		1,561,420

Our financial assets and liabilities carried at fair value measured on a recurring basis as of December 31, 2020, consisted of the following:

	Total fair value at December 31, 2020 $		Quoted prices in active markets (Level 1) $		Significant other observable inputs (Level 2) $		Significant unobservable inputs (Level 3) $
Description:
Derivative liability (1)		7,102,801		-		-		7,102,801
Total		7,102,801		-		-		7,102,801

(1) The Company has estimated the fair value of these liabilities using the Binomial Model.

Basic and Diluted Loss Per Share

Basic income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding during the period. Diluted income (loss) per share is computed by dividing net income (loss) by the weighted-average number of common shares outstanding for the period and, if dilutive, potential common shares outstanding during the period. Potentially dilutive securities consist of the incremental common shares issuable upon exercise of common stock equivalents such as options, warrants, convertible notes payable, preferred series A stock and preferred series C stock. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. As a result, for the nine months ended September 30, 2021, there were outstanding common share equivalents which amounted to 18,902,412 shares of common stock that were not included in the calculation as their effect is anti-dilutive. For fiscal periods with net losses, these common share equivalents were not included in the computation of diluted loss per share as their effect would have been anti-dilutive.

	Three months ended September 30, 2021 $			Three months ended September 30, 2020 $			Nine months ended September 30, 2021 $			Nine months ended September 30, 2020 $
Numerator:
Net income (loss)		(146,187	)		(3,805,958	)		3,207,572			(7,338,523	)
(Gain) loss on change in fair value of derivative liability		-			-			(1,641,616	)		-
Gain on settlement of debt		-			-			(3,792,104	)		-
Interest expense		-			-			30,617			-
Adjusted net income (loss)		(146,187	)		(3,805,958	)		(2,195,531	)		(7,338,523	)
Denominator: Weighted average shares outstanding used in computing net income (loss) per share
Basic		773,082,751			608,601,357			760,229,694			575,094,639
Effect of dilutive warrants		-			-			203,745,854			-
Effect of convertible note weighted shares		-			-			60,456,989			-
Diluted		773,082,751			608,601,357			1,024,432,537			575,094,639
Net income (loss) per share applicable to common shareholders:
Basic		(0.00	)		(0.01	)		(0.00	)		(0.01	)
Diluted		(0.00	)		(0.01	)		(0.00	)		(0.01	)

Recent Accounting Pronouncements

~~ASU~~In ~~2019-12~~August ~~amends~~2020, the ~~requirements~~FASB ~~related~~issued toASU ~~the~~2020-06, “Debt ~~accounting~~– ~~for~~Debt ~~"hybrid"~~with ~~tax~~Conversion ~~regimes.~~and ~~Such~~Other ~~regimes~~Options ~~are~~(Subtopic ~~tax~~470-20) ~~jurisdictions~~and ~~that~~Derivatives ~~impose~~and ~~the~~Hedging ~~greater~~– ofContracts ~~two~~in ~~taxes~~Entity’s -Own ~~one based on~~Equity ~~income,~~(Subtopic or815 ~~one~~– ~~based~~40)” on(“ASU ~~items other than income~~2020-06”). ~~Although~~ASU ~~ASC~~2020-06 ~~740~~simplifies ~~does~~the ~~not~~accounting ~~apply~~for tocertain ~~taxes~~financial ~~based~~instruments with oncharacteristics ~~items~~of ~~other~~liabilities ~~than~~and ~~income~~equity, ~~ASC~~including ~~740-10-15-4(a) originally~~convertible ~~specified~~instruments ~~that~~and ifcontracts ~~there~~on isan aentity’s ~~tax~~own ~~based~~equity. onThe ~~income that~~ ASU is ~~greater~~part ~~than~~of athe ~~franchise~~FASB’s ~~tax~~simplification ~~based on capital~~initiative, ~~only~~which ~~that~~aims ~~excess is subject~~ to ~~the~~reduce ~~guidance~~unnecessary complexity in ~~ASC~~U.S. ~~740~~GAAP. InThe ~~feedback~~ASU’s toamendments are ~~the~~effective ~~FASB,~~for ~~stakeholders~~fiscal ~~indicated~~years ~~that~~beginning ~~the~~after ~~guidance~~December on15, ~~hybrid~~2023, ~~tax regimes increased the cost~~ and ~~complexity~~interim ofperiods ~~applying~~within ~~ASC~~those ~~740,~~fiscal ~~particularly~~years. ~~when~~The ~~the~~Company ~~tax~~is ~~amount deemed to be a non-income tax was insignificant. Further,~~currently ~~such~~evaluating ~~guidance made it more difficult for entities to determine~~ the ~~appropriate~~impact ~~tax~~ASU ~~rate~~2020-06 towill ~~use~~have ~~when~~on ~~recording~~its ~~deferred~~financial ~~taxes~~statements.

~~Accordingly,~~The ~~the~~Company ~~FASB~~has ~~amended~~implemented ~~ASC~~all ~~740-10-15-4(a)~~new ~~to state~~accounting pronouncements that anare ~~entity should include the amount of tax based on income~~ in ~~the~~effect ~~tax provision~~ and ~~should~~that ~~record~~may ~~any~~impact ~~incremental~~its ~~amount~~financial ~~recorded as~~statements aand ~~tax~~does not ~~based~~believe on income. This amendment effectively reverses the order in which an entity determines the type of tax under current U.S. GAAP. In addition, the ASU amends the illustrative examples referred to and included in ASC 740-10-55-26 and ASC 740-10-55-139 through 55-144. The FASB notes that ~~such~~there ~~amendments~~ are ~~consistent~~any ~~with~~other ~~the~~new accounting ~~for other incremental taxes, such as the base erosion anti-abuse~~pronouncements ~~tax.~~that ~~Moreover,~~have inbeen ~~paragraph~~issued ~~BC12 of the ASU, the FASB concluded~~ that ~~subjecting~~might ~~these~~have ~~taxes~~a tomaterial ~~the~~impact ~~disclosure~~on ~~requirements~~its infinancial ~~ASC~~position ~~740 will~~or ~~result~~results ~~in greater transparency~~ of ~~franchise tax amounts~~operations.

109

In August 2020, the FASB issued ASU 2020-06, "Debt - Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging - Contracts in Entity's Own Equity (Subtopic 815- 40)" ("ASU 2020-06"). ASU 2020-06 simplifies the accounting for certain financial instruments with characteristics of liabilities and equity, including convertible instruments and contracts on an entity's own equity. The ASU is part of the FASB's simplification initiative, which aims to reduce unnecessary complexity in U.S. GAAP. The ASU's amendments are effective for fiscal years beginning after December 15, 2023, and interim periods within those fiscal years. The Company is currently evaluating the impact ASU 2020-06 will have on its financial statements.

NOTE 2. GOING CONCERN

The accompanying consolidated ~~condensed financial~~ financial statements have been prepared assuming that the Company will continue as a going concern. The Company has limited assets, has an accumulated deficit of $2729,~~380~~130,~~040~~ 944 and has negative cash flows from operations. As of ~~September~~March 3031, ~~2021~~2022, the Company had a working capital deficit of $54,~~563~~209,~~299~~210. The Company has relied on raising debt and equity capital in order to fund its ongoing day-to-day operations and its corporate overhead. The Company will require additional working capital from either cash flow from operations, from debt or equity financing, or from a combination of these sources. These factors raise substantial doubt about the ability of the Company to continue as a going concern for a period of one year from the issuance of these financial statements. The financial statements do not include any adjustments that might result from the outcome of this uncertainty.

The Company expects that working capital requirements will continue to be funded through a combination of its existing funds and further issuances of securities. Working capital requirements are expected to increase in line with the growth of the business. The Company has no lines of credit or other bank financing arrangements. The Company has financed operations to date through the proceeds of private placement of equity and debt instruments. In connection with the Company’s business plan, management anticipates additional increases in operating expenses and capital expenditures relating to: (i) developmental expenses associated with business growth and (ii) marketing expenses. The Company intends to finance these expenses with further issuances of securities, and debt issuances. Thereafter, the Company expects it will need to raise additional capital and generate revenues to meet long-term operating requirements. Additional issuances of equity or convertible debt securities will result in dilution to current stockholders. Further, such securities might have rights, preferences or privileges senior to common stock. Additional financing may not be available upon acceptable terms, or at all. If adequate funds are not available or are not available on acceptable terms, the Company may not be able to take advantage of prospective new business endeavors or opportunities, which could significantly and materially restrict business operations.

NOTE 3. PROPERTY AND EQUIPMENT

Property and equipment at ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021 consisted of the following:

	September 30, 2021			December 31, 2020
	March 31, 2022			December 31, 2021
Leasehold improvements	$	3361,~~770~~846		$	1861,~~840~~580
Machinery and leased equipment	$	~~365~~383,~~483~~029		$	365,483
Machinery and equipment not yet in service		32737,~~580~~762			32440,~~580~~150
Office equipment and furniture		5266,~~566~~033			3957,~~357~~913
Website		2,760			2,760
Total property and equipment	$	~~487~~1,~~159~~251,430		$	~~459~~927,~~020~~886
Less: Accumulated Depreciation		(~~167~~197,~~028~~837	)		(~~100~~165,~~301~~832	)
Property and equipment, net		~~320~~1,~~131~~053,593			~~358~~762,~~719~~054

Depreciation expense was $6632,~~726~~004 and $2712,~~085~~000 for the ~~nine~~three-months ended ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021, respectively. During the three months ended March 31, 2022, the Company added $297,612 of machinery and equipment not yet in service.

NOTE 4. INTANGIBLE ASSETS

Intangible assets at ~~September~~March 3031, ~~2021~~2022 and December 31, 2021 ~~2020~~ consisted of the following:

	September 30, 2021			December 31, 2020
	March 31, 2022			December 31, 2021
Patents	$	4,505,489		$	4,505,489
Technology rights		200,000			200,000
Intangibles, at cost		4,705,489			4,705,489
Intangible, at cost		4,705,489			4,705,489
Less: Accumulated amortization		(1,~~533~~681,~~831~~935	)		(1,~~305~~607,~~465~~468	)
Net Carrying Amount	$	3,~~171~~023,~~658~~554		$	3,~~400~~098,~~024~~021

Amortization expense was $~~228~~74,~~366~~467 and $~~228~~76,~~283~~122 for ~~the~~ ~~nine~~the three-months ended ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021, respectively.

Estimated Future Amortization Expense:

		$		$
For year ending December 31, 2021 - remaining			76,122
	For year ending December 31, 2022				226,503
For year ending December 31, 2022			304,488
	For year ending December 31, 2023				302,003
For year ending December 31, 2023			304,488
	For year ending December 31, 2024				302,003
For year ending December 31, 2024			304,488
	For year ending December 31, 2025				302,003
For year ending December 31, 2025			304,488
	For year ending December 31, 2026				302,003
~~Thereafter~~	Thereafter		~~1,877,584~~		1,589,039
~~Total~~	Total		~~3,171,658~~		3,023,554

NOTE 5. LEASES

On August 26, 2020, the Company signed a new one-year lease for the Company headquarters and operations located in Little River, South Carolina. The lease was effective retroactively from July 1, 2020, ending on June 30, 2021, for $7,500 per month. The Company re-negotiated an annual lease on the Little River, SC facility for $7,500 per month, retroactive to July 1, 2020, which is renewable for an additional four years (with a 2% increase annually). The Company renewed the lease for another year, effective July 1, 2021, at $7,650 ~~per~~ /month.

On October 19, 2020, the Company entered into a building lease with a three-year term and an effective date of November 1, 2020. The lease requires the Company to make payments of $4,500 per month. The Company recognized operating lease expense of $4013,500 during the ~~nine-month~~ period ended ~~September 30~~March 31, ~~2021~~2022.

OnAt March 1531, ~~2021~~2022, the ~~Company entered~~weighted ~~into~~average aremaining operating ~~building~~ lease ~~with a two-year~~ term ~~and~~was ~~an effective date of April~~ 1~~, 2021~~.59 ~~The~~years ~~lease~~and ~~requires~~ the ~~Company~~weighted toaverage ~~make~~discount ~~payments of~~rate ~~$2,750~~associated ~~per~~with ~~month. The Company recognized~~ operating ~~lease~~leases ~~expense~~was ~~of $19,250 during the nine-month period ended September 30, 2021~~18. ~~The Company terminated the lease effective October 14, 2021 and recognized an impairment of $39,030 during the nine-month period ended September 30, 2021~~5%.

~~At September 30, 2021, the weighted average remaining operating lease term was 2.07 years and the weighted average discount rate associated with operating leases was 18.5%.~~11

The ~~components~~Components of lease expenses ~~for the nine-month period ended September 30, 2021 and 2020~~ were as follows:

	2021 $		2020 $
	2022 $		2021 $
Total operating lease cost		5913,~~750~~500		-13,500

The following table provides supplemental cashflow and other information related to leases for the ~~nine-month~~ period ended ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021:

	2021 $		2020 $
	2022 $		2021 $
Lease payments		~~127~~36,~~700~~450		4038,~~440~~750

Supplemental balance sheet information ~~related~~ related to leases as of ~~September~~March 3031, ~~2021~~2022 and ~~2020~~2021 are as below:

	2021 $			2020 $
	2022 $			2021 $
Cost		~~176~~123,~~213~~614			-123,614
Accumulated amortization		(4449,~~411~~985	)		-(13,378	)
Impairment		(39,030	)
Net carrying value		73,629			110,236
Net carrying value		92,772			-

Future minimum lease payments related to lease obligations are as follows as of ~~September~~March 3031, ~~2021~~2022:

	$
2021		13,500
2022		40,500
2022		54,000
2023		45,000
Total minimum lease payments		~~112~~85,500
Less: amount of lease payments representing effects of discounting		(1911,~~728~~871	)
Present value of future minimum lease payments		9273,~~772~~629
Less: current obligations under leases		(4043,~~127~~985	)
Lease liabilities, net of current portion		5229,~~645~~644

NOTE 6. NOTES PAYABLE

The following tables summarize notes payable as of ~~September~~ 30March 31, ~~2021~~2022 and December 31, ~~2020~~2021:

Type	Original Amount		Origination Date	Maturity Date	Effective Annual Interest Rate			Balance at ~~September~~March 3031, ~~2021~~2022			Balance at December 31, ~~2020~~2021
Note Payable (a)**	$	25,000	05/08/2017	06/30/2018		0	%	$	22,500		$	27,500
Note Payable **	$	25,000	05/08/2017	06/30/2018		0	%	$	22,500		$	22,500
Note Payable (b)	$	8,700	11/15/2018	06/30/2019		10	%	$	-		$	8,700
Note Payable **	$	118,644	05/05/2020	05/05/2021		8	%	$	110,644		$	110,644
Note Payable (c)	$	199,500	10/01/2020	09/28/2021		66	%	$	-		$	149,573
Note Payable (a)	$	199,000	02/04/2022	02/03/2023		59	%	$	178,136		$	—
Note Payable (d)	$	126,000	11/03/2020	04/23/2021		166	%	$	-		$	85,050
Note Payable (b)	$	131,100	03/04/2022	12/16/2022		83	%	$	118,614		$	—
Note Payable (e)	$	113,980	11/04/2020	03/15/2021		210	%	$	-		$	65,988
Sub-total								$	429,894		$	133,144
Note Payable (f)	$	177,800	01/02/2021	07/12/2021		116	%	$	-		$	-
Debt discount								$	(31,070	)	$	—
Note Payable (g)	$	111,920	03/09/2021	05/21/2021		220	%	$	-		$	-
Balance, net								$	398,824		$	133,144
Note Payable (h)	$	29,686	03/09/2021	Demand		34	%	$	-		$	-
Less current portion								$	(398,824	)	$	(133,144	)
Note Payable (i)	$	222,400	06/01/2021	Demand		181	%	$	76,985		$	-
Total long-term								$	—		$	—
Note Payable (j)	$	87,000	06/29/2021	Demand		211	%	$	31,320		$	-
Sub-total								$	241,449		$	447,455
Debt discount								$	(9,945	)	$	(63,075	)
Balance, net								$	231,504		$	384,380
Less current portion								$	(231,504	)	$	(384,380	)
Total long-term								$	-		$	-
** Currently in default

a) On ~~July~~February 194, ~~2021~~2022, the Company ~~repaid~~entered into a loan agreement with a non-related party for $199,000, of which $2,985 was an original issue discount resulting in cash proceeds to the ~~principal~~Company ~~amount~~of $196,015. The loan is to be repaid through fifty-two weekly payments of $5,~~000~~013. During the three months ended March 31, 2022, $688 of the discount was amortized to expense, and $20,864 was repaid leaving a note balance of $22178,~~500~~136.

b) On ~~July~~March 194, ~~2021~~2022, the Company sold future receivables with a non-related party for $131,100, of which $36,100 was loan fees and original issue discount resulting in cash proceeds to the Company of $95,000. The advance is to be repaid through weekly payments of $3,121. In connection with the ~~principal~~advance, ~~amount~~the Company granted the lender a security interest and all past, present and future assets of the Company. During the three months ended March 31, 2022, $87,~~700~~327 of the discount was amortized to expense, and $12,846 was repaid leaving a note balance of $0118,614.

c) On October 1, 2020, the Company sold future receivables with a non-related party for $199,500, of which $53,250 was loan fees and original issue discount resulting in cash proceeds to the Company of $146,250. The advance is to be repaid through weekly payments of $3,841. In connection with the advance, the Company granted the lender a security interest and all past, present and future assets of the Company. During the nine months ended September 30, 2021, $30,642 of the discount was amortized to expense, and the note was repaid leaving a note balance of $0.

d) On November 3, 2020, the Company sold future receivables with a non-related party for $126,000, of which $39,650 was loan fees and original issue discount resulting in cash proceeds to the Company of $86,350. The advance is to be repaid through $1,050 daily payments. In connection with the advance, the Company granted the lender a security interest and all past, present and future assets of the Company. During the nine months ended September 30, 2021, $18,944 of the discount was amortized to expense, and the remaining $85,050 was repaid leaving a note balance of $0.

e) On November 4, 2020, the Company sold future receivables with a non-related party for $113,980, of which $34,440 was loan fees and original issue discount resulting in cash proceeds to the Company of $79,540. The advance is to be repaid through $5,999 weekly payments. In connection with the advance, the Company granted the lender a security interest and all past, present and future assets of the Company. During the nine months ended September 30, 2021, $13,489 of the discount was amortized to expense, and the remaining $65,988 was repaid leaving a note balance of $0.

f) On January 2, 2021, the Company sold future receivables with a non-related party for $177,800, of which $39,795 was loan fees and original issue discount resulting, and $35,994 was paid to settle the loan described in Note (d) in cash proceeds to the Company of $102,011. The advance is to be repaid through $7,730 weekly payments. In connection with the advance, the Company granted the lender a security interest and all past, present and future assets of the Company. During the nine months ended September 30, 2021, $39,795 of the discount was amortized to expense, and the remaining $46,383 was settled through a payment of $43,600 resulting in a gain on settlement of debt of $2,783 and a note balance of $0.

g)The Onfollowing ~~March~~table summarizes 9,notes ~~2021~~payable, ~~the Company sold future receivables with a non-~~related ~~party~~parties ~~for~~as ~~$111,920,~~ of ~~which~~March ~~$35~~31,~~120~~ ~~was~~2022 ~~loan fees~~ and ~~original~~December ~~issue discount resulting in cash proceeds to the Company of $76~~31,~~800.~~ The advance is to be repaid through $1,399 weekly payments. In connection with the advance, the Company granted the lender a security interest and all past, present and future assets of the Company. During the nine months ended September 30, 2021~~, $35,120 of the discount was amortized to expense, and $111,920 was repaid leaving a note balance of $0.~~:

h) On March 9, 2021, the Company sold future receivables with a non-related party for $29,686, of which $10,120 was loan fees and original issue discount resulting in cash proceeds to the Company of $19,566. During the six months ended September 30, 2021, $10,120 of the discount was amortized to expense and $29,686 was repaid, leaving a note balance of $0.

Type	Original Amount		Origination Date	Maturity Date	Annual Interest Rate			Balance at March 31, 2022			Balance at December 31, 2021
Note Payable, RP **	$	17,000	06/20/2018	01/02/2020		5	%	$	10,000		$	10,000
Note Payable, RP **	$	50,000	07/27/2018	11/30/2018		8	%	$	10,850		$	10,850
Note Payable, RP **	$	15,000	08/16/2019	02/16/2020		8	%	$	15,000		$	15,000
Note Payable, RP (c)	$	84,034	02/16/2021	Demand		5	%	$	45,000		$	50,000
Subtotal								$	80,850		$	85,850
Debt discount								$	—		$	—
Balance, net								$	80,850		$	85,850
Less current portion								$	(80,850	)	$	(85,850	)
Total long-term								$	—		$	—

** Currently in default

ic) On ~~June~~March 17, ~~2021~~2022, the Company sold future receivables with a non-related party for $222,400, of which $8,000 was attributable to loan fees and $62,400 to original issue discount resulting in cash proceeds to the Company of $152,000. The advance is to be repaid ~~through weekly payments of $8,554. In connection with~~ the ~~advance,~~principal ~~the~~amount ~~Company granted the lender a security interest and all past, present, and future assets~~ of ~~the Company. During the nine months ended September 30, 2021,~~ $645,~~414~~000 ~~of the discount was amortized to expense, and $145,415 was repaid~~ leaving a ~~net~~ note ~~balance~~principal ~~of $70,999 (discount~~ balance of $545,~~986)~~000.

j)The Onfollowing ~~June~~table summarizes ~~29,~~convertible ~~2021,~~notes ~~the~~payable ~~Company~~as ~~sold future receivables with a non-related party for $87,000,~~ of ~~which~~March ~~$27~~31,~~000~~ ~~was~~2022 ~~loan fees~~ and ~~original~~December ~~issue discount resulting in cash proceeds to the Company of $60~~31,~~000.~~ ~~During the nine months ended September 30,~~ 2021~~, $23,041 of the discount was amortized to expense, and $55,680 was repaid leaving a net note balance of $27,361 (discount balance of $3,959).~~:

The following table summarizes notes payable, related parties as of September 30, 2021 and December 31, 2020:

Type	Original Amount		Origination Date	Maturity Date	Annual Interest Rate			Balance at March 31, 2022			Balance at December 31, 2021
Convertible Note Payable (d) *	$	150,000	04/10/2020	04/09/2021		12	%	$	—		$	25,000
Convertible Note Payable (e)	$	300,000	08/27/2020	07/31/2021		12	%	$	265,000		$	270,000
Convertible Note Payable (f)	$	226,162	11/04/2021	11/04/2022		19	%	$	135,697		$	203,546
Convertible Note Payable	$	1,465,300	11/30/2021	11/30/2023		5	%	$	1,465,300		$	1,465,300
Subtotal								$	1,865,997		$	1,963,846
Debt discount								$	(9,290	)	$	(17,738	)
Balance, net								$	1,856,707		$	1,946,108
Less current portion								$	(391,407	)	$	(480,808	)
Total long-term								$	1,465,300		$	1,465,300

** Currently in default
* Embedded conversion feature accounted for as a derivative liability at period end

Type	Original Amount		Origination Date	Maturity Date	Annual Interest Rate			Balance at September 30, 2021			Balance at December 31, 2020
Note Payable, RP (k)	$	30,000	04/10/2018	01/15/2019		3	%	$	-		$	30,000
Note Payable, RP (l)	$	380,000	06/20/2018	01/02/2020		8	%	$	-		$	380,000
Note Payable, RP (m)	$	350,000	06/20/2018	01/02/2020		5	%	$	-		$	285,214
Note Payable, RP (n)**	$	17,000	06/20/2018	01/02/2020		5	%	$	15,000		$	17,000
Note Payable, RP **	$	50,000	07/27/2018	11/30/2018		8	%	$	50,000		$	50,000
Note Payable, RP (o)	$	5,000	10/09/2018	Demand		0	%	$	-		$	5,000
Note Payable, RP (p)	$	5,000	10/19/2018	Demand		0	%	$	4,237		$	5,000
Note Payable, RP **	$	15,000	08/16/2019	02/16/2020		8	%	$	15,000		$	15,000
Note Payable, RP (q)	$	2,000	02/11/2020	Demand		0	%	$	-		$	2,000
Note Payable, RP (m)	$	84,034	02/16/2021	Demand		5	%	$	70,034		$	-
Subtotal								$	154,271		$	789,214
Debt discount								$	-		$	-
Balance, net								$	154,271		$	789,214
Less current portion								$	(154,271	)	$	(789,214	)
Total long-term								$	-		$	-
** Currently in default

During the three months ended March 31, 2022, the Company repaid $25,000 of the note, leaving a note principal balance of $0.

ke) During the ~~nine-~~three months ended ~~September~~March 3031, ~~2021~~2022, the Company ~~made~~repaid ~~several~~$5,000 ~~payments~~of ~~to repay~~ the ~~principal amount of $30~~note,~~000~~ leaving a note principal balance of $0265,000.

lf) OnDuring ~~February 16, 2021,~~ the ~~Company~~three ~~issued~~months ~~2,663,299~~ended ~~shares~~March ~~of common stock to settle a June 20~~31, ~~2018~~2022, ~~note payable of~~ $~~380~~8,~~000~~448 ~~and~~of ~~accrued~~the ~~interest~~discount ofwas ~~$26,153~~amortized ~~owed~~ to ~~the~~expense, ~~current COO~~ and ~~Director of the Company. The Company recognized the fair value of the shares issued of~~ $7467,~~572~~849 ~~and due to the related party nature of the transaction no gain~~ was ~~recognized~~repaid ~~for~~leaving ~~the~~a ~~difference~~note ~~between~~principal ~~the~~balance ~~fair value~~ of ~~the shares and the extinguished debt. The resulting difference was recorded as Additional Paid-in Capital in the amount of~~ $~~328~~135,~~919~~697.

m)NOTE On7 ~~February~~– ~~16,~~DERIVATIVE 2021, the Company issued 1,803,279 shares of common stock to settle $247,270 from a $275,000 note payable dated June 20, 2018, which has a balance of $331,304, including interest, to the current Chairman and CEO of the Company. The Company also agreed to issue a new note for the remaining balance owed to the Chairman and CEO of $84,034, dated February 16, 2021. The note will bear interest at 5% per annum and is due on June 30, 2021. The Company recognized the fair value of the shares issued of $50,492 and due to the related party nature of the transaction no gain was recognized for the difference between the fair value of the shares and the extinguished debt. The resulting difference was recorded as Additional Paid-in Capital in the amount of $194,861. On July 15, 2021, and September 23, 2021, the Company repaid the principal amount of $14,000 leaving a note balance of $70,034.LIABILITIES

nThe embedded conversion option of (1) Onthe ~~July~~convertible debentures ~~15,~~described ~~2021~~in Note 6 and (2) warrants, containing conversion features that qualify for embedded derivative classification. The fair value of the ~~Company~~liabilities ~~repaid~~will be re-measured at the ~~principal~~end ~~amount~~of every reporting period and the change in fair value will be reported in the statement of ~~$2,000~~operations ~~leaving~~as a ~~note~~gain ~~balance~~or ofloss ~~$15,000~~on derivative financial instruments.

o)Upon Onthe ~~September~~issuance ~~23,~~of ~~2021~~the convertible notes payable described in Note 6, the Company ~~repaid~~concluded that it only has sufficient shares to satisfy the ~~principal~~conversion ~~amount~~of some but not all of $5the outstanding convertible notes,~~000~~ ~~leaving~~warrants and options. The Company elected to reclassify contracts from equity with the earliest inception date first. As a ~~note~~result, none of the Company’s previously outstanding convertible instruments qualified for derivative reclassification, however, any convertible securities issued after the election, including the warrants described in Note 10, qualified for derivative classification. The Company reassesses the classification of the instruments at each balance sheet date. If the classification changes as a result of events $0during the period, the contract is reclassified as of the date of the event that caused the reclassification.

p)The Ontable ~~September~~below ~~23,~~sets ~~2021,~~forth ~~the~~a ~~Company~~summary ~~repaid~~of changes in the ~~principal~~fair ~~amount~~value of ~~$763~~the ~~leaving~~Company’s aLevel ~~note~~3 ~~balance~~financial ~~of $4,237~~liabilities.

q) On September 23, 2021, the Company repaid the principal amount of $2,000 leaving a note balance of $0.

	March 31, 2022			December 31, 2021
Balance at the beginning of period	$	3,044,034		$	7,102,801
Original discount limited to proceeds of convertible notes		—			—
Fair value of derivative liabilities in excess of notes proceeds received		—			—
Settlement of derivative instruments		(60,626	)		(4,035,906	)
Change in fair value of embedded conversion option		(1,028,251	)		(22,861	)
Balance at the end of the period	$	1,955,157		$	3,044,034

The ~~following~~Company ~~table~~uses ~~summarizes~~Level ~~convertible~~3 ~~notes~~inputs ~~payable~~for its valuation asmethodology offor ~~September~~the ~~30,~~embedded ~~2021~~conversion features and ~~December~~warrant ~~31,~~liabilities ~~2020:~~as their fair values were determined by using the Binomial Model based on various assumptions.

Type	Original Amount		Origination Date	Maturity Date	Annual Interest Rate			Balance at September 30, 2021			Balance at December 31, 2020
Convertible Note Payable* **	$	65,000	12/06/2018	12/06/2019		12	%	$	46		$	46
Convertible Note Payable (r)	$	75,000	03/18/2019	12/13/2019		24	%	$	-		$	177,795
Convertible Note Payable (s)	$	30,000	03/06/2020	03/05/2021		12	%	$	-		$	21,662
Convertible Note Payable (t)* **	$	150,000	04/10/2020	04/09/2021		12	%	$	65,000		$	165,000
Convertible Note Payable (u) **	$	300,000	08/27/2020	07/31/2021		12	%	$	270,000		$	300,000
Convertible Note Payable (v)	$	53,500	09/22/2020	03/21/2022		12	%	$	-		$	53,500
Convertible Note Payable (w)	$	87,500	09/24/2020	Demand		8	%	$	15,000		$	40,000
Convertible Note Payable (x)	$	200,000	10/07/2020	10/06/2021		5	%	$	200,000		$	200,000
Convertible Note Payable (y)	$	200,000	10/16/2020	10/15/2021		5	%	$	200,000		$	200,000
Convertible Note Payable (z)	$	300,000	11/11/2020	11/10/2021		5	%	$	300,000		$	300,000
Convertible Note Payable (aa)	$	150,000	12/29/2020	12/28/2021		5	%	$	150,000		$	150,000
Convertible Note Payable (bb)	$	150,000	01/27/2021	01/27/2022		5	%	$	150,000		$	-
Convertible Note Payable (cc)	$	128,000	02/22/2021	02/22/2022		12	%	$	-		$	-
Convertible Note Payable (dd)	$	200,000	03/18/2021	03/18/2022		5	%	$	200,000		$	-
Convertible Note Payable (ee)	$	83,000	03/26/2021	03/26/2022		12	%	$	-		$	-
Convertible Note Payable (ff)	$	43,000	04/05/2021	04/05/2022		12	%	$	-		$	-
Convertible Note Payable (gg)	$	200,000	04/14/2021	04/14/2022		5	%	$	200,000		$	-
Convertible Note Payable (hh)	$	128,000	05/03/2021	05/03/2022		12	%	$	128,000		$	-
Subtotal								$	1,876,046		$	1,608,003
Debt discount								$	(1,708	)	$	-
Balance, net								$	1,876,338		$	1,608,003
Less current portion								$	(1,876,338	)	$	(1,554,503	)
Total long-term									-			53,500
* Embedded conversion feature accounted for as a derivative liability at period end ** Currently in default

r) During the nine months ended September 30, 2021, the Company repaid $70,000 of the convertible note payable and settled the remaining outstanding debt of $107,795 and accrued interest of $76,569 through a cash payment of $40,000 and the issuance of 8,000,000 shares of common stock at a fair value of $124,000 resulting in a gain on settlement of debt of $20,364.

s) On May 7, 2021, the Company deemed in the best interest to settle the convertible debt with a non-related party and allow for the cashless exercise to purchase 1,921,875 shares of the Company's common stock at the rate of $0.032 per share. In addition, the non-related party shall release 60,072,853 shares to the agreed upon payment terms of $36,994 cash. During the nine months ended September 30, 2021, the Company incurred additional default penalties of $15,174 on the convertible note and settled the outstanding debt of $36,836 and accrued interest of $3,657 through a cash payment of $36,994 and the cashless exercise to purchase 1,921,875 shares of the Company's common stock with a fair value of $34,594 resulting in a loss on settlement of debt of $31,095.

t) On April 10, 2020, the Company entered into a convertible promissory note with a non-related party for $150,000, of which $18,000 was an original issue discount resulting in cash proceeds to the Company of $132,000. The note is due on April 9, 2021 and bears interest on the unpaid principal balance at a rate of 12% per annum. The Note may be converted by the Lender at any time into shares of Company's common stock at a conversion price equal to 65% of the lowest trading price during the 25-trading day period prior to the conversion date. Further, if at any time the stock price is less than $0.30, an additional 20% discount is applied and if at any time the conversion price is less than $0.01 an additional 10% is applied. Further, an additional 15% is applied if the Company fails to comply with its reporting requirements. During the period, all these additional discounts were triggered. The embedded conversion option qualified for derivative accounting and bifurcation under ASC 815-15. The initial fair value of the conversion feature was $507,847 and resulted in a discount to the note payable of $132,000 and an initial derivative expense of $375,847. During the year ended December 31, 2020, the Company incurred $15,000 of penalties which increased the principal amount of the note to $165,000. During the nine months ended September 30, 2021, the Company repaid $100,000 of the note, leaving a note balance of $65,000.

u) During the nine months ended September 30, 2021, the Company repaid $30,000 of the note, leaving a note balance of $270,000.

v) On September 22, 2020, the Company entered into a convertible promissory note with a non-related party for $53,500, of which $3,500 was an original issue discount resulting in cash proceeds to the Company of $50,000. The note is due on March 21, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. During the nine months ended September 30, 2021 the Company repaid the $53,500 note as well as $25,882 of interest and prepayment penalties. As the note was repaid prior to becoming convertible no derivative liability was recognized.

w) During the nine months ended September 30, 2021 the Company issued 25,000,000 common shares upon the conversion of $25,000 of the convertible note payable, leaving a note balance of $15,000. On October 11, 2021, the Company issued 15,000,000 common shares upon the conversion of the remaining $15,000 of the convertible note payable. Refer to Note 12(a).

x) On October 7, 2020, the Company entered into a convertible promissory note with a non-related party for $200,000. The note is due on October 6, 2021 and bears interest on the unpaid principal balance at a rate of 5% per annum. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price of $0.20. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. The Company determined that there was no derivative liability associated with the debenture under ASC 815-15 Derivatives and Hedging.

y) On October 16, 2020, the Company entered into a convertible promissory note with a non-related party for $200,000. The note is due on October 15, 2021 and bears interest on the unpaid principal balance at a rate of 5% per annum. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price of $0.20. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. The Company determined that there was no derivative liability associated with the debenture under ASC 815-15 Derivatives and Hedging.

z) On November 11, 2020, the Company entered into a convertible promissory note with a non-related party for $300,000. The note is due on November 10, 2021 and bears interest on the unpaid principal balance at a rate of 5% per annum. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price of $0.15. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. The Company determined that there was no derivative liability associated with the debenture under ASC 815-15 Derivatives and Hedging.

aa) On December 29, 2020, the Company entered into a convertible promissory note with a non-related party for $150,000. The note is due on December 28, 2021 and bears interest on the unpaid principal balance at a rate of 5% per annum. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price of $0.10. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. The Company determined that there was no derivative liability associated with the debenture under ASC 815-15 Derivatives and Hedging.

bb) On January 27, 2021, the Company entered into a convertible promissory note with a non-related party for $150,000. The note is due on January 26, 2022 and bears interest on the unpaid principal balance at a rate of 5% per annum. The note may be converted by the lender at any time before 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to $0.10. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. The Company determined that there was no derivative liability associated with the debenture under ASC 815-15 Derivatives and Hedging.

cc) On February 22, 2021, the Company entered into a convertible promissory note with a non-related party for $128,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $125,000. The note is due on February 22, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. During the nine months ended September 30, 2021 the Company repaid the $128,000 note as well as $51,000 of interest and prepayment penalties. As the note was repaid prior to becoming convertible no derivative liability was recognized.

dd) On March 18, 2021, the Company entered into a convertible promissory note with a non-related party for $200,000. The note is due on March 17, 2022 and bears interest on the unpaid principal balance at a rate of 5% per annum. The note may be converted by the lender at any time before 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to $0.10. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. The Company determined that there was no derivative liability associated with the debenture under ASC 815-15 Derivatives and Hedging.

ee) On March 26, 2021, the Company entered into a convertible promissory note with a non-related party for $83,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $80,000. The note is due on March 24, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. During the nine months ended September 30, 2021 the Company repaid the $83,000 note as well as $39,694 of interest and prepayment penalties. As the note was repaid prior to becoming convertible no derivative liability was recognized.

ff) On April 5, 2021, the Company entered into a convertible promissory note with a non-related party for $43,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $40,000. The note is due on April 5, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. During the nine months ended September 30, 2021 the Company repaid the $43,000 note as well as $12,270 of interest and prepayment penalties. As the note was repaid prior to becoming convertible no derivative liability was recognized.

gg) On April 14, 2021, the Company entered into a convertible promissory note with a non-related party for $200,000. The note is due on April 14, 2022 and bears interest on the unpaid principal balance at a rate of 5% per annum. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price of $0.10. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. As the note is not convertible until 180 days following issuance, no derivative liability was recognized as of September 30, 2021.

hh) On May 3, 2021, the Company entered into a convertible promissory note with a non-related party for $128,000, of which $3,000 was an original issue discount resulting in cash proceeds to the Company of $125,000. The note is due on May 3, 2022 and bears interest on the unpaid principal balance at a rate of 12% per annum. Stringent pre-payment terms apply (from 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date. As the stock price at the issuance date was lesser than the effective conversion price, it was determined that no beneficial conversion feature exists. As the note is not convertible until 180 days following issuance, no derivative liability was recognized as of September 30, 2021. On November 5, 2021, the Company repaid the $128,000 note as well as $61,952 of interest and prepayment penalties.

NOTE 7. DERIVATIVE LIABILITIES

The embedded conversion option of (1) the convertible notes payable described in Note 5; (2) warrants; contain conversion features that qualify for embedded derivative classification. The fair value of the liabilities will be re-measured at the end of every reporting period and the change in fair value will be reported in the statement of operations as a gain or loss on derivative financial instruments.

Upon the issuance of the convertible notes payable described in Note 6, the Company concluded that it only has sufficient shares to satisfy the conversion of some but not all of the outstanding convertible notes, warrants and options. The Company elected to reclassify contracts from equity with the earliest inception date first. As a result, none of the Company's previously outstanding convertible instruments qualified for derivative reclassification, however, any convertible securities issued after the election, including the warrants described in Note 10, qualified for derivative classification. The Company reassesses the classification of the instruments at each balance sheet date. If the classification changes as a result of events during the period, the contract is reclassified as of the date of the event that caused the reclassification.

The table below sets forth a summary of changes in the fair value of the Company's Level 3 financial liabilities.

	September 30, 2021			December 31, 2020
Balance at the beginning of period	$	7,102,801		$	10,517,873
Original discount limited to proceeds of notes		-			166,000
Settlement of derivative instruments		(3,792,104	)		(16,824,669	)
Change in fair value of embedded conversion option		(1,749,277	)		13,243,597
Balance at the end of the period	$	1,561,420		$	7,102,801

The Company uses Level 3 inputs for its valuation methodology for the embedded conversion option and warrant liabilities as their fair values were determined by using the Binomial Model based on various assumptions.

Significant changes in any of these inputs in isolation would result in a significant change in the fair value measurement. As required, these are classified based on the lowest level of input that is significant to the fair value measurement. The following table shows the assumptions used in the calculations:

	Expected Volatility			Risk-free Interest Rate			Expected Dividend Yield			Expected Life (in years)
At September 30, 2021		113 - 249	%		0.09-0.76	%		0	%		1.00-3.91
At March 31, 2022		113 - 234	%		1.63-2.44	%		0	%		1.00-3.41

~~The Company uses Level 3 inputs for its valuation methodology for the preferred series A stock liability as their fair values were determined by using the Binomial Model based on various assumptions.~~ 15

18NOTE 8 - STOCKHOLDERS’ DEFICIT

NOTE 8. STOCKHOLDERS' DEFICIT

Preferred Stock

Effective March 23, 2018, the Company amended the articles of incorporation and authorized 10,000,000 shares of preferred stock with a par value of $0.001 per share. The preferred stock may be issued from time to time by the Board of Directors as shares of one or more classes or series, as summarized below.

Series A Preferred Shares

~~Effective~~On ~~March~~December 231, 2018, the Company’s ~~amended~~Board ~~the~~of ~~articles~~Directors ofauthorized ~~incorporation~~an ~~and~~offering ~~authorized~~for 101,000,000 ~~shares~~Preferred ofSeries ~~preferred~~“A” stock at $0.10 per share and with a100% ~~par~~regular ~~value~~or ofcashless exercise at $0.~~001~~10 per share, of ~~which~~common 1stock warrant coverage. At December 31,~~000~~ 2018, the Company received $60,000 of subscriptions for ~~shares~~the ~~were~~issuance ~~designated~~of as600,000 shares of Preferred Series “A” ~~Convertible~~stock ~~Preferred~~to ~~Stock~~three asaccredited ofinvestors ~~December~~who ~~31,~~are ~~2019~~related parties. The ~~preferred~~Company was ~~stock~~unable ~~may~~to beissue ~~issued~~the ~~from~~subscriber ~~time~~the ~~to time~~preferred byshares until the ~~Board~~Company filed a Certificate of ~~Directors~~Designation asand the Preferred Series “A” stock has been duly validly authorized. Resulting in a preferred stock liability related to the Company’s commitment to issue shares of ~~one~~Series orA ~~more~~stock ~~classes~~upon orthe ~~series~~designation.

On December 1, 2018, the Company's Board of Directors authorized an offering for 1,000,000 Preferred Series "A" stock at $0.10 per share and with 100% regular or cashless exercise at $0.10 per share of common stock warrant coverage. At December 31, 2018, the Company received $60,000 of subscriptions for the issuance of 600,000 shares of Preferred Series "A" stock to three accredited investors who are related parties. The Company was unable to issue the subscriber the preferred shares until the Company filed a Certificate of Designation and the Preferred Series "A" stock has been duly validly authorized. Resulting in a preferred stock liability related to the Company's commitment to issue shares of Series A stock upon the designation.

On April 12, 2019, the Company filed a Certificate of Designation with the Nevada Secretary of State designating 1,000,000 shares of its authorized preferred stock as Series A Convertible Preferred Stock. The principal terms of the Series A Preferred Shares are as follows:

Issue Price

The stated price for the Series A Preferred shall be $0.10 per share.

Redemption

This Company may at any time following the first anniversary date of issuance (the "“Redemption Date"”), at the option of the Board of Directors, redeem in whole or in part the Shares by paying in cash in exchange for the Shares to be redeemed a price equal to the Original Series A Issue Price ($0.10) (the "“Redemption Price"”). Any redemption affected pursuant to this provision shall be made on a pro rata basis among the holders of the Shares in proportion to the number of the shares then held by them.

Dividends

None.

Preference of Liquidation

In the event of any liquidation, dissolution or winding up of the Company, the holders of Shares shall be entitled to receive, prior and in preference to any distribution of any of the assets of this Company, to the holders of Common Stock by reason of their ownership thereof, an amount per share equal to the sum of (i) $0.10 for each outstanding Share (the "“Original Series A Issue Price"”) and (ii) an amount equal to 6% of the Original Series A Issue Price for each 12 months that has passed since the date of issuance of any Shares (such amount being referred to herein as the "“Premium"”).

For purposes of this provision, a liquidation, dissolution or winding up of this Company shall be deemed to be occasioned by, or to include, (A) the acquisition of the Company by another entity by means of any transaction or series of related transactions (including, without limitation, any reorganization, merger or consolidation but, excluding any merger effected exclusively for the purpose of changing the domicile of the Company); or (B) a sale of all or substantially all of the assets of the Company; unless the Company'’s stockholders of record as constituted immediately prior to such acquisition or or sale will, immediately after such acquisition or sale (by virtue of securities issued as consideration for the Company'’s acquisition or or sale or otherwise), hold at least 50% of the voting power of the surviving or acquiring entity.

If upon the occurrence of such liquidation, dissolution or winding up event, the assets and funds thus distributed among the holders of the Shares shall be insufficient to permit the payment to such holders of the full aforesaid preferential amounts, then, subject to the rights of series of preferred stock that may from time to time come into existence, the entire assets and funds of the Company legally available for distribution shall be distributed ratably among the holders of the Shares in proportion to the preferential amount each such holder is otherwise entitled to receive.

In any of such liquidation, dissolution or winding up event, if the consideration received by the Company is other than cash, its value will be deemed its fair market value. Any securities shall be valued as follows:

A.	Securities not subject to investment letter or other similar restrictions on free marketability (covered by (B) below):

If traded on a securities exchange (NASDAQ, AMEX, NYSE, etc.), the value shall be deemed to be the average of the closing prices of the securities on such exchange over the thirty-day period ending three (3) days prior to the closing;

If traded on a quotation system, such as the OTC:QX, OTC:QB or OTC Pink Sheets, the value shall be deemed to be the average of the closing bid or sale prices (whichever is applicable) over the thirty-day period ending three (3) days prior to the closing; and

If there is no active public market, the value shall be the fair market value thereof, as mutually determined by the Company and the holders of at least a majority of the voting power of all then outstanding shares of Preferred Stock.

B. The method of valuation of securities subject to investment letter or other restrictions on free marketability (other than restrictions arising solely by virtue of a stockholder'’s status as an affiliate or former affiliate) shall be to make an appropriate discount from the market value determined as above in (A) (1), (2) or (3) to reflect the approximate fair market value thereof, as mutually determined by the Company and the holders of at least a majority of the voting power of all then outstanding shares of such Preferred Stock:.

Voting

The holder of each Share shall not have any voting rights, except in the case of voting on a change in the preferences of Shares.

Conversion

Each Share shall be convertible into shares of the Company'’s Common Stock at a price per share of $0.10 (1 Share converts into 1 share of Common Stock), at the option of the holder thereof, at any time following the date of issuance of such Share and on or prior to the fifth day prior to the Redemption Date, if any, as may have been fixed in any Redemption Notice with respect to the Shares, at the office of this Company or any transfer ~~agent~~ agent for such stock. Each Share shall automatically be converted into shares of Common Stock on the first day of the thirty-sixth (36th) ~~month~~ month following the original issue date of the shares at the Conversion Price per share. To date, the Shares have not yet been converted into Common Stock.

The Company was unable to issue the subscribers the preferred shares until the Company filed a Certificate of Designation and the Preferred Series "A" stock had been duly validly authorized. As the Company had not filed the Certificate of Designation and as the Company could not issue the preferred shares to settle the proceeds received, it was determined the subscriptions were settleable in cash. As a result, the Company classified the subscriptions received as a liability in accordance with ASC 480 Distinguishing Liabilities from Equity. The filing of the Certificate of Designation and issuance of the preferred shares resulted in the reclassification of the Series A Preferred Shares from a liability to temporary equity or "mezzanine" because the preferred shares include the liquidation preferences described above. The fair value of the preferred series A stock on April 12, 2019 was $60,398 and was valued by using the Binomial Model based on various assumptions and was reclassified from a liability to mezzanine equity.17

AsThe Company was unable to issue the subscribers the preferred shares until the Company filed a Certificate of ~~September~~Designation ~~30,~~and ~~2021,~~the Preferred Series “A” stock had been duly validly authorized. As the Company had not filed the Certificate of Designation and ~~December~~as ~~31,~~the Company could not issue the preferred shares ~~2020~~to settle the proceeds received, ~~there~~it was determined the subscriptions were ~~500~~settleable in cash. As a result,~~000~~ the Company classified the subscriptions received as a liability in accordance with ASC 480 Distinguishing Liabilities from Equity. The filing of the Certificate of Designation and issuance of the preferred shares resulted in the reclassification of the Series A ~~Convertible~~ Preferred ~~Stock~~Shares ~~issued~~from ~~and~~a ~~outstanding~~liability to temporary equity or “mezzanine” because the preferred shares include the liquidation preferences described above. The fair value of the preferred series A stock on April 12, ~~respectively~~2019 was $60,398 and was valued by using the Binomial Model based on various assumptions and was reclassified from a liability to mezzanine equity.

As of March 31, 2022, and December 31, 2021, there were 500,000 shares of Series A Convertible Preferred Stock issued and outstanding, respectively.

Series B Preferred Shares

Effective August 13, 2019, the Company filed a Certificate of Designation with the Nevada Secretary of State thereby designating 1,000,000 shares of its authorized preferred stock as Series B -–Preferred Stock. The principal terms of the Series B Preferred Shares are as follows:

Voting Rights

Holders of the Series B Preferred Stock shall be entitled to cast five hundred (500) votes for each share held of the Series B Preferred Stock on all matters presented to the stockholders of the Corporation for stockholder vote which shall vote along with holders of the Corporation'’s Common Stock on such matters.

Redemption Rights

The Series B Preferred Stock shall be be redeemed by the Corporation upon the successful receipt by the Corporation of at least $1,000,000 in equity capital following the issuance of the Series B Preferred Stock. ToThe ~~date the~~ Company has received in excess of $~~500~~1,~~500~~000,000 of equity capital during the year ended December 31, 2021, and ~~upon~~ the ~~receipt~~redemption ofright anhas ~~additional~~been ~~$499~~triggered. However,~~500 in~~ ~~equity~~to ~~capital~~date the Company has not exercised the redemption ~~right~~rights ~~will~~to beredeem ~~triggered~~the Series B Preferred Stock and currently has no plans to do so.

Conversion Rights

The Series B Preferred Stock is not convertible into shares of Common Stock of the Corporation.

Protective Provisions

So long as any shares of Series B Preferred Stock are outstanding, this Corporation shall not without first obtaining the approval (by vote or written consent, as provided by law) of the Holders of the Series B Preferred Stock which is entitled, other than solely by law, to vote with respect to the matter, and which Preferred Stock represents at least a majority of the voting power of the then outstanding shares of such Series B Preferred Stock:

sell, convey, or otherwise dispose of or encumber all or substantially all of its property or business or merge into or consolidate with any other corporation (other than a wholly owned subsidiary corporation) or effect any transaction or series of related transactions in which more than fifty percent (50%) of the voting power of the Corporation is disposed of;

alter or change the rights, preferences or privileges of the shares of Series B Preferred Stock so as to affect adversely the shares;

increase or decrease (other than by redemption or conversion) the total number of authorized shares of preferred stock;

authorize or issue, or obligate itself to issue, any other equity security, including any other security convertible into or exercisable for any equity security (i) having a preference over, or being on a parity with, the Series B Preferred Stock with respect to dividends or upon liquidation, or (ii) having rights similar to any of the rights of the Series B Preferred Stock; or

e) amend the Corporation'’s Articles of Incorporation or bylaws.

Dividends

None.

Preference of Liquidation

None.

Upon designation, the Company issued 500,000 ~~shares~~ shares of the Series B preferred stock to each of its current CEO/Chairman and COO/Director (1,000,000 shares in total) pursuant to their ~~employment~~ employment agreements. As the Series B Preferred Shares represent share-based payments that are not classified as liabilities but that could require the employer to redeem the equity instruments for cash or other assets, the Company classified the initial redemption amount of the shares of $158,247 as temporary equity or "“mezzanine"”.

As of ~~September~~March 3031, ~~2021~~2022, and December 31, ~~2020~~2021, there were 1,000,000 shares of Series B Preferred Stock issued and outstanding, respectively.

Series C Preferred Shares

Pursuant to the September 18, 2019 ~~majority consent of stockholders in lieu of an annual meeting (including the consent of the Series A Convertible Preferred Stockholders)~~, the ~~Registrant filed~~Company filed a Certificate of Designation with the Nevada Secretary of State designating 5,500,000 shares of its authorized preferred stock as ~~Series~~ Series C Convertible Preferred Stock. The Registrant is awaiting the file stamped Certificate of Designation from the Nevada Secretary of State. The rights and preferences of such preferred stock are as follows:

The number of shares constituting the Series C Convertible Preferred Stock shall be 5,500,000. Such number of shares may be increased or decreased by resolution of the Board of Directors, provided that no decrease shall reduce the number of shares of Series C Convertible Preferred Stock to a number less than the number of shares then outstanding plus the number of shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any outstanding securities issued by the Company convertible into Series C Convertible Preferred Stock.

Conversion Rights

Each Share shall be convertible into shares of the Company'’s Common Stock at a price per share of $0.01 (1 Share converts into 100 shares of Common Stock) (the "“Conversion Price"”), at the option of the holder thereof, at any time following the date of issuance of such Share and on or prior to the fifth (5th) day prior to the redemption Date, if any, as may have been fixed in any redemption notice with respect to the Shares, at the office of this Company or any transfer agent for such stock.

Voting Rights

The holder of each Share shall not have any voting rights, except in the case of voting on a change in the preferences of Shares.

Protective Provisions

So long as any Shares are outstanding, this Company shall not without first obtaining the approval (by vote or written consent, as provided by law) of the holders of Shares which is entitled, other than solely by law, to vote with respect to the matter, and which Shares represents at least a majority of the voting power of the then outstanding Shares:

alter or change the rights, preferences or privileges of the Shares so as to affect adversely the Shares;

increase or decrease (other than by redemption or conversion) the total number of authorized shares of preferred stock;

authorize or issue, or obligate itself to issue, any other equity security, including any other security convertible into or exercisable for any equity security (i) having a preference over, or being on a parity with, the Shares with respect to liquidation, or (ii) having rights similar to any of the rights of the Preferred Stock; or

e) amend the Company'’s Articles of Incorporation or bylaws.

Other Rights

There are no other rights, privileges or preferences attendant or relating to in any way the Shares, including by way of illustration but not limitation, those concerning dividend, ranking, other conversion, other redemption, participation or anti-dilution rights or preferences.

As conversion of the Series C Preferred Shares is not within the control of the Company, and it is not certain that the Company could satisfy its obligation to deliver shares upon conversion, the Series C Preferred Shares were classified in temporary equity or "mezzanine".20

AtAs ~~December~~conversion ~~31,~~of ~~2020,~~the ~~there were 40,000~~ Series C Preferred Shares is ~~issued~~not within the control of the Company, and ~~outstanding~~it is not certain that the Company could satisfy its obligation to deliver shares upon conversion, the ~~valued~~Series atC $1Preferred ~~per~~Shares ~~share~~were classified in temporary equity or ~~$40,000~~“mezzanine”.

On February 15, 2021, 40,000 shares of preferred series C stock ~~was~~were converted into common stock (1 share converts into 100 shares of common stock), resulting in the issuance of 4,000,000 shares of common stock. ~~At September 30, 2021, no Series C Preferred Shares were outstanding.~~

22Effective December 1, 2021, the Company filed an Amended and Restated Certificate of Designation with the Nevada Secretary of State designating 1,500,000 shares of its authorized preferred stock as Series C Convertible Preferred Stock. The revised rights and preferences of such preferred stock are as follows:

The amended number of shares constituting the Series C Convertible Preferred Stock shall be 1,500,000. Such number of shares may be increased or decreased by resolution of the Board of Directors, provided that no decrease shall reduce the number of shares of Series C Convertible Preferred Stock to a number less than the number of shares then outstanding plus the number of shares reserved for issuance upon the exercise of outstanding options, rights or warrants or upon the conversion of any outstanding securities issued by the Company convertible into Series C Convertible Preferred Stock.

Amended Conversion Rights

Each Share shall be convertible into shares of the Company’s Common Stock at a price per share of $0.015 (1 Share converts into 150 shares of Common Stock) (the “Conversion Price”), at the option of the holder thereof, at any time following the date of issuance of such Share and on or prior to the fifth (5th) day prior to the redemption Date, if any, as may have been fixed in any redemption notice with respect to the Shares, at the office of this Company or any transfer agent for such stock.

During the year ended December 31, 2021, the Company sold 1,500,000 shares of preferred series C stock at $1.50 per share for proceeds of $2,250,000.

As of March 31, 2022, and December 31, 2021, there were 1,500,000 shares of Series C Preferred Stock issued and outstanding, respectively.

Common Stock

~~Effective~~The ~~March 23, 2018, the Company amended the Articles of Incorporation and increased the~~ authorized shares of common stock ~~with~~consists ~~a par value~~ of ~~$0.001 per share from 100~~ 1,000,000 ~~to 300~~,000~~,000~~ shares. ~~Effective October 4, 2019, the Company amended the Articles of Incorporation and increased the authorized shares of common stock~~ with a par value of $0.001 per share ~~from 300,000,000 to 1,000,000,000 shares~~. The number of shares ~~outstanding~~ of ~~the registrant's~~ common stock outstanding as of ~~September~~March 3031, ~~2021~~2022 and December 31, ~~2020~~2021 was ~~780~~790,~~126~~924,~~229~~690 and ~~722~~790,~~487~~924,~~846~~690, respectively.

~~On January 4, 2021, the Company issued 25,000,000 common shares to settle a convertible note described in Note 6(p), with a remaining balance of $40,000.~~21

On February 15, 2021, 40,000 shares of preferred series C stock was converted into common stock (1 share converts into 100 shares of common stock), resulting in the issuance of 4,000,000 shares of common stock.

On February 16, 2021, the Company issued 2,663,299 shares of common stock to settle a June 20, 2018 note payable of $380,000 and accrued interest of $26,153 owed to the current COO and Director of the Company.

On March 1, 2021, the Company entered into a consulting agreement. Pursuant to the agreement, the consultant will provide advisory services through May 31, 2021 in consideration of 2,500,000 shares of common stock. The fair value of the common stock was $62,750 which has been recognized in consulting expense during the six months ended June 30, 2021.

On May 7, 2021, the Company issued 1,921,875 common shares pursuant to a cashless exercise of warrants as described in Note 6(l).

On May 27, 2021, the Company issued 1,000,000 common shares pursuant to an employment agreement dated May 5, 2021 with an officer of the Company. The fair value of the common stock was $18,990.

On June 2, 2021, the Company issued 3,750,000 common shares for cash proceeds of $75,000.

On June 30, 2021, the Company issued 5,000,000 common shares for cash proceeds of $100,000.

On September 1, 2021, the Company issued 8,000,000 common shares and paid $21,000 to settle the remaining outstanding principal on a convertible note payable of $88,795 and accrued interest of $26,153 resulting in a gain on settlement of debt of $20,364.

On September 10, 2021, the Company issued 2,000,000 common shares pursuant to a general release agreement dated July 23, 2021 with a former employee of the Company. The fair value of the common stock was $28,400.

NOTE 9. STOCK OPTIONS

Below is a table summarizing the options issued and outstanding as of ~~September~~March 3031, ~~2021~~2022:

	Number of options			Weighted average exercise price $
Balance, December 31, 2020		200,000			2.00
Balance, December 31, 2021		8,500,000			0.034
Granted		-—			-—
Expired		-(2,500,000	)		-0.0001
Settled		-—			-—
Balance, September 30, 2021		200,000			2.00
Balance, March 31, 2022		6,000,000			0.048
Exercisable		2,000,000			0.015

As at ~~September~~March 3031, 2021, the following share stock ~~options~~ options were outstanding:

Date		Number		Number		Exercise		Weighted Average Remaining Contractual		Expiration		Proceeds to Company if
Issued		Outstanding		Exercisable		Price $		Life (Years)		Date		Exercised
	01/26/2017		200,000		200,000		2.00		0.32		01/26/2022		400,000
	09/01/2021		2,000,000		2,000,000		0.015		4.42		08/31/2026		30,000
			200,000		200,000							$	400,000
	09/01/2021		1,000,000		—		0.03		5.42		08/31/2027		30,000
	09/01/2021		1,000,000		—		0.05		6.42		08/31/2028		50,000
	09/01/2021		1,000,000		—		0.075		7.42		08/31/2029		75,000
	09/01/2021		1,000,000		—		0.10		8.42		08/31/2030		100,000
			6,000,000		2,000,000							$	285,250

~~The~~At March 31, 2022, the weighted average exercise prices are $20.00048 and $0.015 for the options outstanding and exercisable, respectively. The intrinsic value of stock options outstanding at ~~September~~March 3031, ~~2021~~2022 was $~~nil~~4,000.

2322

NOTE 10. WARRANTS

The Company concluded that it only has sufficient shares to satisfy the conversion of some but not all of the outstanding convertible instruments. The initial fair value of the warrants issued during the period was calculated using the Binomial Model as described in Note 6.

The following table summarizes the continuity of share purchase warrants:

	Number of warrants			Weighted average exercise price $
Balance, December 31, 2020		260,500,000			0.00283
Balance, December 31, 2021		115,048,858			0.00597
Settled		-			-
Cancelled		—			—
Granted		-—			-—
Exercised		~~(142,857,143~~—	)		~~0.00035~~—
Balance, September 30, 2021		117,642,857			0.00584
Balance, March 31, 2022		115,048,858			0.00597

As at ~~September~~March 3031, ~~2021~~2022, the following share purchase warrants were outstanding:

Date		Number			Number			Exercise			Weighted Average Remaining Contractual		Expiration		Proceeds to Company if
Issued		Outstanding			Exercisable			Price $			Life (Years)		Date		Exercised
	12/3/2018		500,000			500,000	*		0.10			21.1868		12/3/2023		50,000
	3/31/2019		~~107~~104,~~142~~548,~~857~~858	*		~~107~~104,~~142~~548,~~857~~858	*		0.00035	*		21.4595		033/13/2024		3736,~~500~~592
	8/26/2020		10,000,000	*		10,000,000	*		0.06	*		3.9140		8/26/2025		600,000
			117,642,857			117,642,857									$	687,500
			115,048,858			115,048,858									$	686,592

*The number of warrants outstanding and exercisable is variable based on adjustments to the exercise price of the warrant due to dilutive issuances.

The intrinsic value of warrants outstanding at ~~September~~March 3031, ~~2021~~2022 was $1,~~237~~740,~~500~~738.

NOTE 11. RELATED PARTY TRANSACTIONS

The Company has agreements with related parties for consulting services, accrued rent, accrued interest, notes payable and stock options. See Notes to Financial Statements numbers 6, 8, 9 and 119 for more details.

NOTE 12. COMMITMENTS AND CONTINGENCIES

Consulting Agreements -–

On March 1, 2021, the Company entered into a consulting agreement. Pursuant to the agreement, the consultant will provide consulting services to the Company in various marketing and management matters for a period of three months. In consideration for the services performed by the consultant, the Company agreed to compensate the consultant $5,000 per month. The Company also granted stock options to purchase 2,500,000 common shares exercisable at $0.0001 per share for one year. The options expired in full without exercise on March 1, 2022.

The Company also uses the professional services of securities attorneys, a US EPA specialist, professional accountants, and other public-company specialists.

Employment Agreements -–

OnNo ~~May~~new 5,agreements ~~2021,~~during the ~~Company~~period ~~entered~~ending ~~into~~March ~~an employment agreement with a recently appointed officer~~31, ~~for an initial term of three years. The terms of the contract call for an annual salary of~~ ~~$70,000 and the issuance of 1,000,000 shares of common stock~~2022. ~~The fair value of the common stock was $18,990. On July 16, 2021, the officer resigned.~~

Other Obligations and Commitments -–

~~The~~No ~~Company~~new ~~has~~obligation aor ~~commitment~~commitments toduring ~~acquire~~the ~~inventory~~period ~~for~~ending aMarch ~~total cost of $61~~31,~~150,~~ ~~of which $30,575 was paid prior to September 30, 2021~~2022.

~~Other than the above, there are no new obligation or commitments during the period ending September 30, 2021.~~23

NOTE 13. SUBSEQUENT EVENTS

a) On ~~October~~March 1129, ~~2011~~2022, the Company ~~issued~~entered 15into a convertible promissory note with a non-related party for $128,000,~~000~~ ~~common~~of ~~shares~~which ~~upon~~$500 ~~the~~was ~~conversion~~an oforiginal issue discount and $2,500 was issue costs resulting in cash proceeds to the ~~remaining~~Company of $15125,000. ofThe Company received the ~~convertible~~cash ~~note~~proceeds ~~payable~~on April 4, ~~leaving~~2022. aThe note is due on March 29, 2023 and bears interest on the unpaid principal balance at a rate of $012% per annum. ~~Refer~~Stringent topre-payment ~~Note~~terms 6apply (wfrom 15% to 40%, dependent upon the timeframe of repayment during the note's term) and any part of the note which is not paid when due shall bear interest at the rate of 22% per annum from the due date until paid. The Note may be converted by the Lender at any time after 180 days of the date of issuance into shares of Company's common stock at a conversion price equal to 61% of the lowest trading price during the 15-trading day period prior to the conversion date.

b)On ~~Effective~~April ~~October~~1, 142022, ~~2021~~Gary Grieco, the Company’s President ~~terminated~~resigned ahis ~~building~~position ~~lease~~as President, with anArthur ~~original~~E. ~~expiry~~Abraham ~~date~~being ofappointed ~~March~~President. ~~31,~~Gary ~~2023~~Grieco remains Chief Executive Officer and Mr. ~~Refer~~Abraham toserves ~~Note~~as 5President and Chief Financial Officer.

3) On ~~November~~April 512, ~~2021~~2022, the Company ~~repaid~~incorporated atwo ~~$128~~wholly-owned subsidiaries,~~000~~ ~~convertible~~21st ~~note~~Century asHealthcare, ~~well~~Inc. asand ~~$61,952~~21st ofCentury ~~interest~~Energy, ~~and~~Inc., ~~prepayment~~both ~~penalties.~~in ~~Refer~~the toState ~~Note~~of ~~6(hh)~~Nevada.

On April 14, 2022, the Company sold future receivables with a non-related party for $81,600, of which $21,600 was loan fees and original issue discount resulting in cash proceeds to the Company of $60,000. The advance is to be repaid through weekly payments of $2,147. In connection with the advance, the Company granted the lender a security interest and all past, present and future assets of the Company.

On April 29, 2022, the Company obtained $200,000 cash proceeds for future considerations.

FORWARD-LOOKING STATEMENTS

This document contains "“forward-looking statements"” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are "“forward-looking statements"” for purposes of federal and state securities laws, including, but not limited to, any projections of earnings, revenue or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements concerning proposed new services or developments; any statements regarding future economic conditions or performance; any statements or belief; and any statements of assumptions underlying any of the foregoing.

Forward-looking statements may include the words "“may,"” "“could,"” "“estimate,"” "“intend,"” "“continue,"” "“believe,"” "“expect"” or "“anticipate"” or other similar words. These forward-looking statements present our estimates and assumptions only as of the date of this report. Accordingly, readers are cautioned not to place undue reliance on forward-looking statements, which speak only as of the dates on which they are made. We do not undertake to update forward-looking statements to reflect the impact of circumstances or events that arise after the dates they are made. You should, however, consult further disclosures we make in this Quarterly Report on Form 10-Q, future Quarterly Reports on Form 10-Q, our Annual Report on Form 10-K and Current Reports on Form 8-K.

Although we believe that the expectations reflected in any of our forward-looking statements are reasonable, actual results could differ materially from those projected or assumed in any of our forward-looking statements. Our future financial condition and results of operations, as well as any forward-looking statements, are subject to change and inherent risks and uncertainties. The factors impacting these risks and uncertainties include, but are not limited to:

•	our ability to efficiently manage and repay our debt obligations;
•	our inability to raise additional financing for working capital;
•	our ability to generate sufficient revenue in our targeted markets to support operations;
•	significant dilution resulting from our financing activities;
•	actions and initiatives taken by both current and potential competitors;
•	supply chain disruptions for components used in our products;
•	manufacturers inability to deliver components or products on time;
•	our ability to diversify our operations;
•	the fact that our accounting policies and methods are fundamental to how we report our financial condition and results of operations, and they may require management to make estimates about matters that are inherently uncertain;
•	adverse state or federal legislation or regulation that increases the costs of compliance, or adverse findings by a regulator with respect to existing operations;
•	changes in U.S. GAAP or in the legal, regulatory and legislative environments in the markets in which we operate;
•	deterioration in general or global economic, market and political conditions;
•	inability to efficiently manage our operations;
•	inability to achieve future operating results;
•	the unavailability of funds for capital expenditures;
•	our ability to recruit, hire and retain key employees;
•	the global impact of COVID-19 on the United States economy and out operations;
•	the inability of management to effectively implement our strategies and business plans; and
•	the other risks and uncertainties detailed in this report.

In this form 10-Q references to "“PCT LTD"”, "“the Company"”, "“we,"” "“us,"” "“our"” and similar terms refer to PCT LTD and its wholly owned operating subsidiary, Paradigm Convergence Technologies Corporation ("“Paradigm"”).

COVID-19

The current and potential effects of coronavirus may impact our business, results of operations and financial condition.

Actual or threatened epidemics, pandemics, outbreaks, or other public health crises could materially and adversely impact or disrupt our operations, adversely affect the local economies where we operate and negatively impact our customers' spending in the impacted regions or depending upon the severity, globally, which could materially and adversely impact our business, results of operations and financial condition. For example, since December 2019, a strain of novel coronavirus (causing "COVD-19") surfaced in China and has spread into the United States, Europe and most other countries of the world, resulting in certain supply chain disruptions, volatilities in the stock market, lower oil and other commodity prices due to diminished demand, massive unemployment, and lockdown on international travels, all of which has had an adverse impact on the global economy. There is significant uncertainty around the breadth and duration of the business disruptions related to COVID-19, as well as its impact on the U.S. economy. Moreover, an epidemic, pandemic, outbreak or other public health crisis, such as COVID-19, could adversely affect our ability to adequately staff and manage our business. The extent to which COVID-19 impacts our business, results of operations and financial condition will depend on future developments, which are highly uncertain, rapidly changing and cannot be predicted, including new information that may emerge concerning the severity of COVID-19 and the actions taken to contain it or treat its impact.

ITEM 2. MANAGEMENT'’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

Executive Overview

On August 31, 2016, PCT LTD entered into a Securities Exchange Agreement (the "“Exchange Agreement"”) with Paradigm Convergence Technologies Corporation, a Nevada corporation ("“Paradigm"”). Pursuant to the terms of the Exchange Agreement, Paradigm became the wholly-owned subsidiary of PCT LTD after the exchange transaction. PCT LTD is a holding company, which through Paradigm is engaged in the business of marketing new products and technologies through licensing and joint ventures.

PCT LTD had not recorded revenues for the two fiscal years prior to its acquisition of Paradigm and was dependent upon financing to continue basic operations. Paradigm has recorded revenue since it initiated operations in 2012; however, those revenues have not been sufficient to finance operations. The Company recorded a net income of $3468,~~207,572~~049 for the ~~nine~~three-months ended ~~September~~March 3031, ~~2021~~2022 and accumulated losses of $2729,~~380~~130,~~040~~944 from inception through ~~September~~March 3031, ~~2021~~2022.

PCT LTD remains dependent upon additional financing to continue operations. The Company intends to raise additional financing through private placements of its common stock and note payable issuances. We expect that we would issue such stock pursuant to exemptions to the registration requirements provided by federal and state securities laws. The purchasers and manner of issuance will be determined according to our financial needs, as discussed below, and the available exemptions to the registration requirements of the Securities Act of 1933. We also note that if we issue more shares of our common stock, then our stockholders may experience dilution in the value per share of their common stock.

The expected costs for the next twelve months include:

•

continuation of commercial launch of non-toxic sanitizing, disinfecting and sterilizing products and technologies with a strong emphasis on health care facilities, including hospitals, nursing homes, assisted living facilities, clinics and medical, dental and veterinarian offices;

• continued research and development on product generation units including those designed for on-site deployment at customers'’ facilities;

•

accelerated research and development and initial commercialization on applications of the products in the agricultural sector, most specifically with respect to abatement of a specific crop disease crisis caused by a bacterium in the U.S. and elsewhere;

•

acquiring available complementary technology rights;

•

payment of short-term debt;

• hiring of additional personnel in ~~2021~~2022; and

•

general and administrative operating costs.

Management projects these costs to total approximately $2,~~400~~580,000. To minimize these costs, the Company intends to maintain its practice of controlling operating overheads with efficient facilities commitments, generally below market salaries and consulting fees, and rigorous prioritization of expenditure requirements. Based on its understanding of the commercial readiness of its products and technologies, the capabilities of its personnel (current and being hired), established business relationships and the general market conditions, management believes that the Company expects to be covering its fixed operating expenses ("“burn rate"”) by the end of the third quarter of 2022.

Liquidity and Capital Resources

A critical component of our operating plan impacting our continued existence is the ability to obtain additional capital through additional equity and/or debt financing. We do not anticipate generating sufficient positive internal operating cash flow until such time as we can deliver our products to market and generate substantial revenues, which may take the next full year to fully realize, if ever. In the event we cannot obtain the necessary capital to pursue our strategic plan, we may have to significantly curtail our operations. This would materially impact our ability to continue operations.

SUMMARY OF BALANCE SHEET	~~September~~March 3031, ~~2021~~2022			December 31, ~~2020~~2021
Cash and cash equivalents	$	~~239~~23,~~327~~618		$	~~115~~116,~~196~~497
Total current assets		~~601~~141,~~778~~480			~~747~~310,~~756~~763
Total assets		4,~~186~~292,~~339~~256			4,~~634~~254,~~610~~258
Total liabilities		65,~~217~~845,~~722~~634			116,~~038~~283,~~156~~637
Accumulated deficit		(2729,~~380~~130,~~040~~944	)		(3029,~~587~~598,~~612~~993	)
Total stockholders' deficit	$	(2,250,028	)	$	(6,662,191	)
Total stockholders’ deficit	$	(4,022,023	)	$	(4,498,024	)

~~For~~At ~~the~~March ~~nine months ended September 30~~31, ~~2021~~2022, the Company recorded a net income of $3468,~~207,572~~049 and ~~at September 30, 2021 had~~ a working capital deficit of $54,~~563~~209,~~299~~210. ~~While~~Since ~~we have recently recorded an increase in the amount of revenues from operations, since~~ inception ~~and~~ we had not established an ongoing source of revenue sufficient to cover our operating costs. During the ~~nine~~three-months ended ~~September~~March 3031, ~~2021~~2022, ~~and 2020~~ we primarily relied upon advances and loans from stockholders and third parties to fund our operations. The Company has relied on raising debt and equity capital in order to fund its ongoing day-to-day operations and its corporate overhead. We had $~~239~~23,~~327~~618 in cash at ~~September~~ 30March 31, ~~2021~~2022, compared to $~~115~~116,~~196~~497 in cash at December 31, ~~2020~~2021. We had total liabilities of $65,~~217~~845,~~722~~634 at ~~September~~March 3031, ~~2021~~ 2022 compared to $116,~~038~~283,~~156~~637 at December 31, ~~2020~~2021.

Our current cash flow is not sufficient to meet our monthly expenses of approximately $~~200~~215,000 and to fund future research and development adequately. We intend to rely on additional debt financing, loans from existing stockholders and private placements of common stock for additional funding in addition to the increasing our recognized revenue from the leasing and/or sale of products; however, there is no assurance that additional funding will be available. We do not have material commitments for future capital expenditures. However, we cannot assure you that we will be able to obtain short-term financing, or that sources of such financing, if any, will continue to be available, and if available, that they will be on favorable terms.

During the next 12 months we anticipate incurring additional costs related to the filing of Exchange Act reports. We believe we will be able to meet these costs through funds provided by management, significant stockholders and/or third parties. We may also rely on the issuance of our common stock in lieu of cash to convert debt or pay for expenses.

Commitments and Obligations

At ~~September~~March 3031, ~~2021~~2022 the Company recorded notes payable totaling approximately $2,~~262~~336,~~113~~381 (related, non-related and convertible, net of debt discount) compared to notes payable totaling $2,~~781~~165,~~597~~102 (related, non-related and convertible, net of debt discount) at December 31, ~~2020~~2021. These notes payable represent cash advances received and expenses paid from third parties and related parties. All of the notes payable carry effective interest from 0% to ~~211~~83% and are due ranging from on demand to ~~May~~November 330, ~~2022~~2023.

The Company headquarters and operations isare located in Little River, South Carolina. The Company re-negotiated an annual lease on the Little River, SC facility for $7,500 per month, retroactive to July 1, 2020, which is renewable for an additional four years (with a 2% increase annually). Effective July 1, 2021 through June 30, 2022, the monthly lease payment is $7,650. The Company added a three-year lease for 9,600 sf. of warehouse space in Fort Wayne, Indiana, oneffective November 1, 2020, for $4,500/month. ~~Effective March 15, 2021, the Company entered into a 2-year lease for additional office space in Little River, SC, for $2,750 per month, which was terminated effective October 14, 2021.~~

Results of Operations

Three Months Ended September 30, 2021

SUMMARY OF OPERATIONS	Three-month period ended March 31,
	(Unaudited)
	2022			2021
Revenues	$	300,466		$	395,519
Total operating expenses		847,583			1,043,673
Total other income (expenses)		1,015,166			(69,874	)
Net income (loss)		468,049			(718,028	)
Basic income (loss) per share	$	0.00		$	(0.00	)
Diluted income (loss) per share	$	(0.00	)		(0.00	)

SUMMARY OF OPERATIONS	Three-month period ended September 30,
	(Unaudited)
	2021			2020
Revenues	$	366,730		$	784,088
Total operating expenses		1,229,810			776,114
Total other income (expense)		716,893			(3,813,932	)
Net income (loss)		(146,187	)		(3,805,958	)
Net income (loss) attributable to common stockholders'		(146,187	)		(3,805,958	)
Basic income (loss) per share		(0.00	)		(0.01	)
Diluted income (loss) per share	$	(0.00	)	$	(0.01	)

Revenues decreased to $300,466, for the three-months ended March 31, 2022 (the “2022 first quarter”) compared to $395,519 for the three-months ended March 31, 2021 (the “2021 first quarter”). The revenue decrease for the period was due to service, equipment sales, fluid sales, licensing & territorial rights decreasing. However, equipment leases increased.

~~Revenues~~Total operating expenses decreased to $~~366~~847,~~730,~~583 ~~for the three-months~~during ~~ended September 30, 2021 (~~the ~~"2021~~2022 ~~third~~first quarter") compared to $~~784~~1,~~088~~043,673 ~~for~~during the ~~three-months ended September 30,~~ 2021 ~~(the "2020~~first ~~third~~ quarter"). The ~~revenue~~ decrease ~~for~~during the ~~period~~first ~~was~~quarter ~~due to the decreased volume~~ of ~~fluids~~2022 ~~sold,~~was ~~as a result of~~primarily ~~the~~due ~~decreased~~to ~~need for an effective US EPA-registered disinfectant as~~ the ~~country~~reduction ~~started~~in toprofessional ~~come~~fees, ~~out~~travel ofexpenses, ~~the~~contract ~~COVID-19~~labor ~~pandemic~~and rent.

~~Total~~General ~~operating~~and administrative expenses ~~increased~~decreased to $1714,~~229,810 during~~393 for the ~~2021~~2022 ~~third~~first quarter compared to $~~776~~893,~~114~~451 during the ~~2020~~2021 ~~third~~first quarter. The ~~increase~~decrease during the ~~third~~first quarter of ~~2021~~2022 was primarily due to anthe ~~increase~~reduction in ~~general~~professional ~~and~~fees, ~~administrative~~travel expenses, contract labor and rent.

~~General~~Depreciation and ~~administrative~~amortization expenses increased slightly to $1106,~~031,072 for~~471 during the ~~2021~~2022 ~~third~~first quarter compared to $~~614~~88,~~667~~122 during the ~~2020~~2021 ~~third~~first quarter. The increase ~~during~~is ~~the~~due ~~third~~to ~~quarter~~depreciation of ~~2021 was primarily~~equipment ~~due~~ to ~~stock-based~~be ~~compensation~~leased ~~for~~or ~~consulting~~currently ~~services~~being ~~and a provision for bad debts~~leased.

~~Depreciation~~Total ~~and~~other ~~amortization~~income ~~expenses~~was ~~increased~~$1,015,166 ~~slightly~~for the 2022 first quarter compared to other expense of $9869,~~364~~874 during the 2021 ~~third~~first quarter. ~~compared~~The overall change was a primarily due to a gain on change in fair value of derivative liability of $901,~~999~~028,251 and a gain on settlement of debt of $60,626 during, 2022 first quarter versus a loss on change in fair value of derivative liability of $257,919 and a gain settlement of debt of $316,401 during the ~~2020~~2021 ~~third~~first quarter.

~~Total~~As ~~other~~a ~~income~~result ~~was~~of ~~$716,893 for~~ the ~~2021~~changes ~~third quarter~~described ~~compared~~above, tonet ~~other~~income was ~~expense of~~ $3468,~~813,932~~049 during the ~~2020~~2021 ~~third~~first quarter. ~~The~~compared ~~overall change was a primarily due~~ to a ~~gain~~net onloss ~~settlement~~ of ~~debt of~~ $~~361~~718,~~357~~028 during the 2021 ~~third~~first quarter ~~versus a loss on settlement of debt of $3,670,393 during the third quarter of 2020~~.

AsOff-Balance aSheet ~~result of the changes described above, net loss was $146,187 during the 2021 third quarter compared to a net loss of $3,805,958 during the 2020 third quarter.~~Arrangements

~~Nine~~We ~~Months~~have ~~Ended~~not ~~September~~entered 30into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, ~~2021~~changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.

SUMMARY OF OPERATIONS	Nine months period ended September 30,
	(Unaudited)
	2021			2020
Revenues	$	1,231,392		$	1,937,442
Total operating expense	$	3,133,929		$	2,651,016
Total other income (expense)	$	5,110,109		$	(6,354,949	)
Net income (loss)	$	3,207,572		$	(7,068,523	)
Preferred series C stock deemed dividends		-			(270,000	)
Net income (loss) attributable to common stockholders'		3,207,572			(7,338,523	)
Basic income (loss) per share		0.00			(0.01	)
Diluted income (loss) per share	$	(0.00	)	$	(0.01	)

Critical Accounting Policies

~~Revenues~~Our ~~decreased~~financial tostatements ~~$1,231,392~~and ~~for~~accompanying ~~the~~notes ~~nine months~~have ~~ended~~been ~~September~~prepared ~~30,~~in ~~2021~~accordance ~~compared~~with toUnited ~~$1,937,442~~States ~~for~~generally ~~the~~accepted ~~nine~~accounting ~~months~~principles ~~ended~~applied ~~September~~on ~~30,~~a ~~2021~~consistent basis. The ~~revenue decrease for the period was~~preparation ~~primarily~~of ~~due~~financial tostatements ~~the~~in ~~decreased~~conformity ~~volume~~with ofU.S. ~~fluids~~generally ~~sold~~accepted asaccounting aprinciples ~~result~~requires ofmanagement ~~the~~to ~~decreased~~make ~~need~~estimates ~~for~~and ~~an effective US EPA-registered disinfectant~~assumptions asthat affect the ~~country~~reported ~~came~~amounts ~~out~~ of ~~the~~assets ~~COVID-19~~and ~~pandemic. Accordingly~~liabilities, ~~product sales decreased to $204,138 during~~ the ~~nine-months~~disclosure ~~ended~~of ~~September 30,~~contingent ~~2021~~assets ~~compared~~and toliabilities ~~$1,233,058~~at ~~during~~ the ~~nine-months~~date ~~ended~~of ~~September~~the ~~30, 2020. However, revenue for equipment leases increased to $802,132~~financial ~~during~~statements and the ~~nine-months~~reported ~~ended~~amounts ~~September~~of ~~30,~~revenues ~~2021~~and ~~compared~~expenses ~~to $501,384~~ during the ~~nine-months~~reporting ~~ended September 30, 2020~~periods.

28We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management’s estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

Total operating expenses increased to $3,133,929 during the nine months ended September 30, 2021 compared to $2,651,016 during the nine months ended September 30, 2020. The increase during the period was primarily due to an increase in general and administrative expenses of $827,644 partially offset by a decrease in cost of product, licensing, and equipment leases of $393,646.28

General and administrative expenses increased to $2,583,139 for the nine months ended September 30, 2021 compared to $1,755,495 during the nine months ended September 30, 2020. General and administrative increased due to stock-based compensation for consulting services, salaries and wages, bad debt provision and professional and accounting fees.

Depreciation and amortization expenses increased to $295,092 during the nine months ended September 30, 2021 compared to $255,368 during the nine months ended September 30, 2020.

Total other income was $5,110,109 for the nine months ended September 30, 2021 compared to other expense of $6,354,949 during the nine months ended September 30, 2020. The overall change was a primarily due to a gain on change in fair value of derivative liability of $1,749,277 and a gain on settlement of debt of $3,689,055 during the nine months ended September 30, 2021 versus a loss on change in fair value of derivative liability of $15,253,543 and a gain settlement of debt of $9,993,528 during the nine months ended September 30, 2020.

As a result of the changes described above, net income was $3,207,572 during the nine months ended September 30, 2021 compared to a net loss of $7,068,523 during the nine months ended September 30, 2020.

Off-Balance Sheet Arrangements

We have not entered into any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources and would be considered material to investors.

Critical Accounting Policies

Our financial statements and accompanying notes have been prepared in accordance with United States generally accepted accounting principles applied on a consistent basis. The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods.

We regularly evaluate the accounting policies and estimates that we use to prepare our financial statements. A complete summary of these policies is included in the notes to our financial statements. In general, management's estimates are based on historical experience, on information from third party professionals, and on various other assumptions that are believed to be reasonable under the facts and circumstances. Actual results could differ from those estimates made by management.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not applicable to smaller reporting companies.

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

We maintain disclosure controls and procedures (as defined in Rule 13a-15(e) or 15d-15(e) under the Exchange Act) that are designed to ensure that information required to be disclosed in our filings under the Exchange Act is recorded, processed, summarized and reported within the periods specified in the rules and forms of the SEC. This information is accumulated to allow our management to make timely decisions regarding required disclosure. Gary Grieco, our Chief Executive Officer, who serves as our principal executive officer, and Arthur Abraham, our Chief Financial Officer, who serves as our principal ~~financial~~accounting officer, ~~has~~have evaluated the effectiveness of our disclosure controls and procedures (as defined in Rule 13a-15(e) and Rule 15d-15(e) of the Exchange Act) as of the end of the period covered by this report. The disclosure controls and procedures ensure that all information required to be disclosed by us in the reports that we file or submit under the Exchange Act is: (i) recorded, processed, summarized and reported, within the time periods specified in the SEC's rule and forms; and (ii) accumulated and communicated to our principal executive officer as appropriate to allow timely decisions regarding required disclosure. Based on that evaluation, our principal executive and ~~officer~~principal accounting officers concluded that as of ~~September~~March 3031, ~~2021~~ 2022, our disclosure controls and procedures were not effective.

Notwithstanding this finding of ineffective disclosure controls and procedures, we concluded that the consolidated financial statements included in this Form 10-Q present fairly, in all material respects, our financial position, results of operations and cash flows for the periods presented in conformity with accounting principles generally accepted in the United States.

Changes in Internal Control Over Financial Reporting

During the quarter ended ~~September~~March 3031, ~~2021~~2022, there ~~were~~ were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) under the Securities Exchange Act of 1934).

PART II -– OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Auctus Fund ~~Settlement~~Litigation

In March of 2019, we entered into a Securities Purchase Agreement with Auctus Fund, LLC (“Auctus”), whereby we borrowed $75,000 from Auctus under the terms of a convertible promissory note and included the issuance to 187,500 warrants to Auctus. Adjustment provisions in the Securities Purchase Agreement and the note required PCTL to adjust the number of warrants and exercise price based upon future financings.

In late 2019, we defaulted on the Auctus note, which triggered a number of default provisions of the note. We disputed the amounts claimed to be owed to Auctus, the number of shares of common stock to be reserved for conversion of the note and the number and exercise price of the warrants held by Auctus. Negotiations of these disputes lasted for several months.

In October of 2020, we entered into a Conditional Settlement Agreement with Auctus to settle all disputes and claims between the parties. A material dispute between the parties was the warrants, which according ~~the~~to Auctus had ballooned to 107,142,857 shares at an exercise price of $0.00035. Pursuant to the settlement agreement, Auctus agreed to settle such disputes and claims based upon the payment of $145,000 in cash and the issuance of 8,000,000 shares of common stock.

On September 1, 2021, we issued 8,000,000 common shares and paid the remaining cash balance to Auctus under the terms of the settlement. We fully complied with all payments required under the settlement agreement and issued the shares of common stock to Auctus, which triggered the mutual release of all disputes and claims between us and Auctus. Despite our compliance with the terms of the settlement agreement, Auctus has refused to execute the mutual release required by the settlement agreement and acknowledge the cancellation of the warrants as part of the settlement.

~~As of~~On ~~the~~January ~~date of this filing~~14, 2022, we ~~are~~filed ~~exploring~~a ~~our~~complaint ~~remedies~~in ~~against~~the ~~Auctus,~~United ~~which~~States ~~may~~District ~~include~~Court ~~filing legal action~~ for ~~breach of~~ the ~~settlement agreement~~District ~~and seeking a declarotory judgment as to the cancellation~~ of ~~the~~Massachusetts ~~warrants.~~(Case We1:22-cv-10053), ~~are~~against ~~also~~Auctus ~~continuing to seek cooperation with~~seeking ~~Auctus~~damages ~~in settlement of this ongoing dispute.~~ for:

~~ITEM 1A~~1. ~~RISK~~Breach ~~FACTORS~~of Contract;

~~We are a smaller reporting company as defined by Rule 12b-~~2. Breach of ~~the~~Implied ~~Securities~~Covenant ~~Exchange Act~~ of ~~1934~~Good Faith and, asFair ~~such, are not required to provide the information under this Item. However, we detailed significant business risks in Item 1A to our Form 10-K/A for the year ended December 31, 2020.~~Dealing;

~~ITEM 2~~3. ~~UNREGISTERED~~Reformation ~~SALES~~of OFMutual ~~EQUITY SECURITIES AND USE OF PROCEEDS~~Release;

~~On January~~ 4~~, 2021, the Company issued 25,000,000 common shares to settle a convertible note described in Note 6(bb), with a remaining balance of $40,000~~. Fraud;

On5. ~~February~~Conversion; ~~15, 2021, 40,000 shares of preferred series C stock was converted into common stock (1 share converts into 100 shares of common stock), resulting in the issuance of 4,000,000 shares of common stock.~~and

On February 16, 2021, the Company issued 1,803,279 shares of common stock to settle $247,270 from a $275,000 note payable dated June 20, 2018, which has a balance of $331,304, including interest, to the current Chairman and CEO of the Company6. ~~The~~Unjust ~~Company also agreed to issue a new note for the remaining balance owed to the Chairman and CEO of $84,034, dated February 16, 2021~~Enrichment. ~~The note will bear interest at 5% per annum and is due on June 30, 2021.~~

OnThe ~~February~~case ~~16,~~is ~~2021, the Company issued 2,663,299~~currently ~~shares of common stock to settle a June 20, 2018 note payable of $380,000 and accrued interest of $26,153 owed to the current COO and Director of the Company~~ongoing.

~~On March 1, 2021, the Company released an additional vested 375,000 shares of common stock to its current COO and Director, as per the Company employment agreement with the executive.~~ 30

OnITEM ~~March 1, 2021, the Company entered into a consulting agreement~~1A. ~~Pursuant~~RISK to the agreement, the consultant will provide advisory services for a period of three months in consideration of $5,000 per month and an option to purchase 2,500,000 shares of common stock at $0.0001 for one year, exercisable on issuance.FACTORS

OnWe ~~April~~are ~~5, 2021, the Company entered into~~ a ~~convertible~~smaller reporting ~~promissory~~company ~~note~~as ~~with~~defined aby ~~non~~Rule 12b-~~related~~2 ~~party~~of ~~for~~the ~~$43,000.~~Securities ~~The~~Exchange ~~Note~~Act isof ~~due~~1934 onand, ~~April~~as 5such, ~~2022~~are ~~and~~not ~~bears~~required ~~interest~~to onprovide the ~~unpaid~~information ~~principal balance~~under atthis ~~the rate of 12% per annum~~Item. ~~The~~However, ~~Note~~we ~~may~~detailed besignificant ~~converted~~business byrisks ~~the~~in ~~lender~~Item 1A atto ~~any~~our ~~time~~Form ~~before 6~~10-~~months~~K offor the ~~date~~year ofended ~~issuance~~December 31, ~~into shares of Company's common stock at the conversion price equal to 61% multiplied by the Market Price~~2021.

OnITEM ~~April 14, 2021, the Company entered into a convertible promissory note with a non-related party for $200,000~~2. ~~The Note is due on April 14, 2022 and bears interest on the unpaid principal balance~~UNREGISTERED atSALES ~~the~~OF ~~rate~~EQUITY ofSECURITIES 5%AND ~~per~~USE ~~annum.~~OF ~~The Note may not be converted by the lender before 6 months of the issuance date into shares of Company's common stock at a conversion price equal to $0.10.~~PROCEEDS

30On January 12, 2022, the Company sold 5,714,286 shares of common stock to accredited investors at a price of $0.035 for proceeds of $200,000. To date, these shares have not been issued.

On February ~~May 3~~1, ~~2021~~2022, the Company ~~entered~~sold ~~into a convertible promissory note with a non-related party for $128~~2,~~000. The Note is due on May 3~~857,143 ~~2022~~shares ~~and~~of ~~bears~~common ~~interest~~stock onto ~~the~~accredited ~~unpaid~~investors ~~principal balance~~ at ~~the~~a ~~rate~~price of ~~12% per annum~~$0.035 ~~The~~for ~~Note~~proceeds ~~may be converted by the lender at any time before 6-months~~ of ~~the~~$100,000. To date, ofthese ~~issuance into~~ shares of ~~Company's~~have ~~common~~not ~~stock~~been ~~at the conversion price equal to 61% multiplied by the Market Price~~issued.

OnAll of ~~May~~the 5,above-described ~~2021,~~issuances ~~the~~were ~~Company~~exempt ~~entered~~from ~~into~~registration anpursuant ~~employment~~to Section 4(a)(2) and/or Regulation D of the Securities Act ~~agreement~~as ~~with~~transactions not involving a ~~recently~~public ~~appointed~~offering. ~~officer~~With respect to each transaction listed above, ~~whereby~~no itgeneral ~~authorized~~solicitation was made by either the ~~issuance~~Company ofor ~~1,000,000~~any ~~shares~~person ofacting ~~common~~on ~~stock~~its behalf. All such securities issued pursuant to such ~~officer~~exemptions ~~(see~~are restricted securities as defined ~~8-K~~in ~~issued~~Rule 144(a)(3) ~~May~~promulgated 21under the Securities Act, ~~2021)~~appropriate legends have been placed on the documents evidencing the securities and may not be offered or sold absent registration or pursuant to an exemption therefrom.

OnIssuer ~~May 7, 2021, the Company deemed in the best interest~~Purchases ~~to settle any and all~~ of ~~the~~Equity Company's prior convertible debt with Crown Bridge Partners and allow for the cashless exercise to purchase 1,921,875 shares of PCT LTD's common stock (par value $0.001/share) at the rate of $0.032/share, thereby reducing PCT LTD's prior debt to Crown Bridge Partners to $0. In addition, Crown Bridge Partners shall release 60,072,853 shares to the agreed upon payment terms of $36,994 cash.Securities

OnWe ~~June~~did 2,not ~~2021,~~repurchase any ~~the~~of ~~Company~~our ~~paid~~equity ~~$25,000~~securities toduring athe ~~non-related party~~quarter ~~toward~~ended aMarch ~~$150~~31,~~000~~ ~~Convertible Note dated April 9, 2020~~2022.

~~One~~ITEM ~~June 2, 2021, the Company entered into a subscription and purchase agreement with a non-related party consisting of~~ 3~~,750,000~~. ~~restricted shares of common stock (aggregate) at a price per share~~DEFAULTS ofUPON ~~$0.02~~SENIOR ~~for $75,000 cash.~~SECURITIES

~~One~~We ~~June~~have 30entered ~~2021,~~into a ~~the~~number ~~Company~~of ~~entered~~promissory ~~into~~notes, asome ~~subscription and~~of ~~purchase~~which ~~agreement~~are ~~with~~in adefault ~~non-related~~as ~~party~~of ~~consisting~~March of31, 52022,~~000,000~~ ~~restricted~~or ~~shares~~went ofinto ~~common~~default ~~stock~~before ~~(aggregate)~~the atfiling aof ~~price~~this ~~per share~~Quarterly ofReport ~~$0.02~~(See ~~for~~Note ~~$100,000~~6 ~~cash~~to the financial statements).

OnA ~~September~~portion 1,of our ~~2021,~~current ~~the~~debt ~~Company~~is ~~issued~~in 8default,~~000,000 common~~ ~~shares~~which ~~and~~may ~~paid~~subject ~~$21,000~~us to ~~settle~~litigation by the ~~remaining~~debt ~~outstanding principal on a convertible note payable with Auctus Fund, LLC, of $88,795 and accrued interest of $26,153~~holders.

OnAs ~~September~~of 10March 31, ~~2021~~2022, we ~~the~~had ~~Company~~cash ~~issued~~and 2cash equivalents of $23,~~000,000~~618 and had a portion of short-term debt in default. Management's plan is to raise additional ~~common~~funds ~~shares~~in ~~pursuant~~the form of debt or equity in order to acontinue ~~general~~to ~~release~~fund ~~agreement~~losses ~~dated~~until ~~July~~such 23time as revenues are able to sustain the Company. To date, ~~2021~~the ~~with~~main asource ~~former~~of ~~employee~~funding has been through the issuance of Preferred C stock, the ~~Company~~issuance of notes payable and the issuance of convertible notes with provisions that allow the holder to convert the debt and accrued and unpaid interest at substantial discounts to the trading price of our common stock. However, there is no assurance that management will be successful in being able to continue to obtain additional funding or defend potential litigation by note holders.

~~All~~ITEM ~~of the above-described issuances were exempt from registration pursuant to Section~~ 4~~(a)(2) and/or Regulation D of the Securities Act as transactions not involving a public offering~~. ~~With~~MINE ~~respect to each transaction listed above, no general solicitation was made by either the Company or any person acting on~~SAFETY ~~its~~DISCLOSURES behalf. All such securities issued pursuant to such exemptions are restricted securities as defined in Rule 144(a)(3) promulgated under the Securities Act, appropriate legends have been placed on the documents evidencing the securities and may not be offered or sold absent registration or pursuant to an exemption therefrom.

~~Issuer~~Not ~~Purchases of Equity Securities~~applicable.

~~We did not repurchase any of our equity securities during the quarter ended September 30, 2021.~~31

ITEM 35. ~~DEFAULTS~~OTHER ~~UPON SENIOR SECURITIES~~INFORMATION

WeChange ~~have entered into a number~~ of ~~promissory notes, some of which are in default as of September 30, 2021, or went into default before the filing of this Quarterly Report (See Note 6 to the financial statements).~~President

AOn April ~~significant~~1, ~~portion~~2022, ofGary ~~our~~Grieco, ~~current~~the ~~debt~~Company’s ~~is in~~President ~~default~~resigned his position as President, ~~which~~with ~~may~~Arthur ~~subject~~E. usAbraham tobeing ~~litigation~~appointed President. byGary ~~the~~Grieco ~~debt~~remains ~~holders~~Chief Executive Officer and Mr. Abraham serves as President and Chief Financial Officer. Mr. Grieco’s resignation was not the result of any disagreements with the Company

AsAbraham ~~of September 30, 2021, we had~~Amended ~~cash~~ and ~~cash~~Restated ~~equivalents~~Employment of $239,327 and had a significant amount of short-term debt in default. Management's plan is to raise additional funds in the form of debt or equity in order to continue to fund losses until such time as revenues are able to sustain the Company. To date, the main source of funding has been through the issuance of convertible notes with provisions that allow the holder to convert the debt and accrued and unpaid interest at substantial discounts to the trading price of our common stock. The effect of the conversions in the year ended December 31, 2020 and the period ended September 30, 2021 for the convertible notes has been to substantially dilute existing holders of common stock of our Company. However, there is no assurance that management will be successful in being able to continue to obtain additional funding or defend potential litigation by note holders.Agreement

~~ITEM~~On 4April 1, 2022, the Company entered into an amended and restated four-year employment agreement with Arthur E. ~~MINE~~Abraham ~~SAFETY~~in ~~DISCLOSURES~~his role as President and Chief Financial Officer. The terms of the contract call for an annual salary of $75,000. The agreement allows for incentive cash bonus payments from $5,000 to $50,000 based on certain stock price and gross revenue targets. The employment agreement awards the CFO with stock options to acquire up to 9,000,000 shares of the Company’s common stock, which shall vest incrementally over four years in the following manner: 2,000,000 stock options on September 1, 2021, 1,500,000 stock options on September 1, 2022, 1,500,000 stock options on September 1, 2023, 2,000,000 stock options on September 1, 2024 and the final 2,000,000 stock options on September 1, 2025. A copy of Mr. Abraham’s amended and restated employment agreement is attached hereto as Exhibit 10.6.

~~Not~~ITEM ~~applicable~~6. EXHIBITS

ITEM 5. OTHER INFORMATION

Exhibit No.		Description
3(i)		Amended and Restated Articles of Incorporation, as currently in effect (Incorporated by reference to Exhibit 3.1 of Form 8-K, filed April 13, 2018)
3.1		Amended Articles of Incorporation increasing authorized shares (Incorporated by reference to Exhibit 3.1 of Form 8-K, filed on October 25, 2019)
3(ii)		Amended and Restated Bylaws, as currently in effect (Incorporated by reference to Exhibit 3.2 of Form 8-K, filed April 13, 2018)
4.2		Certificate of Designation of Series A Convertible Preferred Stock (Incorporated by reference to Exhibit 4.1 of Form 10-Q, filed on September 16, 2019)
4.3		Certificate of Designation of Series B – Super Voting Convertible Preferred Stock (Incorporated by reference to Exhibit 4.2 of Form 10-Q, filed on September 16, 2019)
4.4		Certificate of Designation of Series C Convertible Preferred Stock (Incorporated by reference to Exhibit 3.1 of Form 8-K, filed on October 25, 2019)
4.5		Amended and Restated Series C Convertible Preferred Stock Certificate of Designation effective on December 7, 2021 (Incorporated by reference to Exhibit 4.1 of Form 8-K, filed on December 29, 2021)
4.6		Auctus Note dated March 13, 2019 (Incorporated by reference to Exhibit 4.14 of Form 10-Q, filed on September 16, 2019)
10.1		Auctus Agreement dated March 13, 2019 (Incorporated by reference to Exhibit 10.17 of Form 10-Q, filed on September 16, 2019)
10.2†		Read Employment Agreement (Incorporated by reference to Exhibit 10.18 of Form 10-Q, filed on September 16, 2019)
10.3†		Read Addendum to Employment Agreement (Incorporated by reference to Exhibit 10.19 of Form 10-Q, filed on September 16, 2019)
10.4†		Grieco 2019 Employment Agreement (Incorporated by reference to Exhibit 10.20 of Form 10-Q, filed on September 16, 2019)
10.5†		Grieco 2020 Employment Agreement Incorporated by reference to Exhibit 10.21 of Form 10-Q, filed on April 13, 2020)
10.6#†		Amended and Restated Abraham Employment Agreement dated April 1, 2022
10.7		Disruptive Oil and Gas Contribution Agreement dated October 26, 2021(Incorporated by reference to Exhibit 10.7 of Form 10-K filed on March 31, 2022)
10.8#		$199,000 Note dated February 4, 2022
10.9#		$131,000 Note dated March 4, 2022
10.10#		$81,600 Note dated April 14, 2022
31.1#	Principal Executive Officer Certification
31.2#	Principal Financial Officer Certification
32.1#	Section 1350 Certification, Principal Executive Officer
32.2#	Section 1350 Certification, Principal Financial Officer
99.1	New IR/PR Team press release dated February 1, 2022 (Incorporated by reference to Exhibit 99.8 of Form 10-K filed on March 31, 2022)
99.2	Boston Hospital press release dated February 10, 2022 (Incorporated by reference to Exhibit 99.9 of Form 10-K filed on March 31, 2022)
99.3	Oklahoma and Grassy Creek update press release dated February 24, 2022 (Incorporated by reference to Exhibit 99.10 of Form 10-K filed on March 31, 2022)
99.4#	PCT Celebrates Earth Week press release dated April 19, 2022
99.5#	Chesapeake Group IR engagement press release dated May 3, 2022

101.INS#	XBRL Instance Document
101.SCH#	XBRL Taxonomy Extension Schema Document
101.CAL#	XBRL Taxonomy Calculation Linkbase Document
101.DEF#	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB#	XBRL Taxonomy Label Linkbase Document
101.PRE#	XBRL Taxonomy Presentation Linkbase Document

~~Not~~# ~~applicable~~Filed herewith.

32† Indicates management contract or compensatory plan or arrangement.

~~ITEM 6. EXHIBITS~~32

Exhibit No.	Description
3(i)	Amended and Restated Articles of Incorporation, as currently in effect (Incorporated by reference to Exhibit 3.1 of Form 8-K, filed April 13, 2018)
3.1	Amended Articles of Incorporation increasing authorized shares (Incorporated by reference to Exhibit 3.1 of Form 8-K, filed on October 25, 2019)
3(ii)	Amended and Restated Bylaws, as currently in effect (Incorporated by reference to Exhibit 3.2 of Form 8-K, filed April 13, 2018)
4.1	Certificate of Designation of Series A Convertible Preferred Stock (Incorporated by reference to Exhibit 4.1 of Form 10-Q, filed on September 16, 2019)
4.2	Certificate of Designation of Series B - Super Voting Convertible Preferred Stock (Incorporated by reference to Exhibit 4.2 of Form 10-Q, filed on September 16, 2019)
4.3	Certificate of Designation of Series C Convertible Preferred Stock (Incorporated by reference to Exhibit 3.1 of Form 8-K, filed on October 25, 2019)
4.4	Power Up Note dated June 5, 2018 (Incorporated by reference to Exhibit 4.1 of Form 10-Q, filed August 20, 2018)
4.5	Second Power Up Note dated July 25, 2018 (Incorporated by reference to Exhibit 4.2 of Form 10-Q, filed August 20, 2018)
4.6	Third Power Up Note dated August 27, 2018 (Incorporated by reference to Exhibit 4.3 of Form 10-Q, filed November 21, 2019)
4.7	Fourth Power Up Note dated December 5, 2018 (Incorporated by reference to Exhibit 4.6 of Form 10-Q, filed on September 16, 2019)
4.8	Fifth Power Up Note dated January 15, 2019 (Incorporated by reference to Exhibit 4.7 of Form 10-Q, filed on September 16, 2019)
4.9	Sixth Power Up Note dated February 22, 2019 (Incorporated by reference to Exhibit 4.8 of Form 10-Q, filed on September 16, 2019)
4.10	GS Capital Note dated January 16, 2019 (Incorporated by reference to Exhibit 4.9 of Form 10-Q, filed on September 16, 2019)
4.11	JSJ Note dated January 22, 2019 (Incorporated by reference to Exhibit 4.10 of Form 10-Q, filed on September 16, 2019)
4.12	EMA Note dated January 22, 2019 (Incorporated by reference to Exhibit 4.11 of Form 10-Q, filed on September 16, 2019)
4.13	Adar Note dated February 20, 2019 (Incorporated by reference to Exhibit 4.12 of Form 10-Q, filed on September 16, 2019)
4.14	Peak One Note dated February 21, 2019 (Incorporated by reference to Exhibit 4.13 of Form 10-Q, filed on September 16, 2019)
4.15	Auctus Note dated March 13, 2019 (Incorporated by reference to Exhibit 4.14 of Form 10-Q, filed on September 16, 2019)
4.16	Peak One Opportunity Fund Note dated September 16, 2019 (Incorporated by reference to Exhibit 4.16 of Form 10-Q, filed on August 14, 2020)
4.17	Power-Up #8 Note dated October 8, 2019 (Incorporated by reference to Exhibit 4.17 of Form 10-Q, filed on August 14, 2020)
4.18	Power-Up #9 Note dated October 31, 2019 (Incorporated by reference to Exhibit 4.18 of Form 10-Q, filed on August 14, 2020)
4.19	Power-Up #10 Note dated March 2, 2020 (Incorporated by reference to Exhibit 4.19 of Form 10-Q, filed on August 14, 2020)
4.20	TFK Investments Note dated April 10, 2020 (Incorporated by reference to Exhibit 4.20 of Form 10-Q, filed on August 14, 2020)
4.21	Power-Up #11 Note dated April 16, 2020 (Incorporated by reference to Exhibit 4.21 of Form 10-Q, filed on August 14, 2020)
4.22	Herschbach 2005 Trust Consolidated Note dated May 5, 2020 (Incorporated by reference to Exhibit 4.22 of Form 10-Q, filed on August 14, 2020)
4.23	Power-Up #12 Note dated May 12, 2020 (Incorporated by reference to Exhibit 4.23 of Form 10-Q, filed on August 14, 2020)
4.24	Digital Ally Note dated July 7, 2020 (Incorporated by reference to Exhibit 4.24 of Form 10-Q, filed on August 14, 2020)
4.25	Reserve Capital Management Note dated July 15, 2020 (Incorporated by reference to Exhibit 4.25 of Form 10-Q, filed on August 14, 2020)
10.1	Agreement with Annihilyzer, Inc. dated November 29, 2016 (Incorporated by reference to Exhibit 10.1 of Form 8-K, filed April 20, 2017)
10.2	Amendment to Agreement with Annihilyzer, Inc. dated April 6, 2017 (Incorporated by reference to Exhibit 10.2 of Form 8-K, filed April 20, 2017)
10.3	Read Consolidated Promissory Note dated September 27, 2017 (Incorporated by reference to Exhibit 10.1 of Form 8-K, filed October 4, 2017)
10.4†	Paris Employment Agreement (Incorporated by reference to Exhibit 10.5 of Form 10-Q, filed November 14, 2017)
10.5	Strategic Planning Services Agreement dated March 15, 2018
10.6	Power Up Agreement dated June 5, 2018 (Included in Exhibit 4.1, which is incorporated by reference to Exhibit 4.1 of Form 10-Q, filed August 20, 2018)
10.7	Second Power Up Agreement dated July 25, 2018 (Included in Exhibit 4.2, which is incorporated by reference to Exhibit 4.2 of Form 10-Q, filed August 20, 2018
10.8	Third Power Up Agreement dated August 27, 2018 (Included in Exhibit 4.3, which is incorporated by reference to Exhibit 4.3 of Form 10-Q, filed November 21, 2019)
10.9	Fourth Power Up Agreement dated December 15, 2018 (Incorporated by reference to Exhibit 10.9 of Form 10-Q, filed on September 16, 2019)
10.10	Fifth Power Up Agreement dated January 15, 2019 (Incorporated by reference to Exhibit 10.10 of Form 10-Q, filed on September 16, 2019)
10.11	Sixth Power Up Agreement dated February 22, 2019 (Incorporated by reference to Exhibit 10.11 of Form 10-Q, filed on September 16, 2019)
10.12	GS Capital Agreement dated January 16, 2019 (Incorporated by reference to Exhibit 10.12 of Form 10-Q, filed on September 16, 2019)
10.13	JSJ Agreement dated January 22, 2019 (Incorporated by reference to Exhibit 10.13 of Form 10-Q, filed on September 16, 2019)
10.14	EMA Agreement dated January 22, 2019 (Incorporated by reference to Exhibit 10.14 of Form 10-Q, filed on September 16, 2019)
10.15	Adar Agreement dated February 20, 2019 (Incorporated by reference to Exhibit 10.15 of Form 10-Q, filed on September 16, 2019)
10.16	Peak One Agreement dated February 21, 2019 (Incorporated by reference to Exhibit 10.16 of Form 10-Q, filed on September 16, 2019)
10.17	Auctus Agreement dated March 13, 2019 (Incorporated by reference to Exhibit 10.17 of Form 10-Q, filed on September 16, 2019)
10.18†	Read Employment Agreement (Incorporated by reference to Exhibit 10.18 of Form 10-Q, filed on September 16, 2019)
10.19†	Read Addendum to Employment Agreement (Incorporated by reference to Exhibit 10.19 of Form 10-Q, filed on September 16, 2019)
10.20†	Grieco 2019 Employment Agreement (Incorporated by reference to Exhibit 10.20 of Form 10-Q, filed on September 16, 2019)
10.21†	Grieco 2020 Employment Agreement Incorporated by reference to Exhibit 10.21 of Form 10-Q, filed on April 13, 2020)
10.22	Peak One Opportunity Fund Agreement dated September 16, 2019 (Incorporated by reference to Exhibit 10.22 of Form 10-Q, filed on August 14, 2020)
10.23	Power-Up #8 Agreement dated October 8, 2019 (Incorporated by reference to Exhibit 10.23 of Form 10-Q, filed on August 14, 2020)
10.24	Power-Up #9 Agreement dated October 31, 2019 (Incorporated by reference to Exhibit 10.24 of Form 10-Q, filed on August 14, 2020)
10.25	Power-Up #10 Agreement dated March 2, 2020 (Incorporated by reference to Exhibit 10.25 of Form 10-Q, filed on August 14, 2020)
10.26	TFK Investments Agreement dated April 10, 2020 (Incorporated by reference to Exhibit 10.26 of Form 10-Q, filed on August 14, 2020)
10.27	Power-Up #11 Agreement dated April 16, 2020 (Incorporated by reference to Exhibit 10.27 of Form 10-Q, filed on August 14, 2020)
10.28	Herschbach 2005 Trust Agreement dated May 12, 2020 (Incorporated by reference to Exhibit 10.28 of Form 10-Q, filed on August 14, 2020)
31.1	Principal Executive Officer Certification
31.2	Principal Financial Officer Certification
32.1	Section 1350 Certification
101.INS	XBRL Instance Document
101.SCH	XBRL Taxonomy Extension Schema Document
101.CAL	XBRL Taxonomy Calculation Linkbase Document
101.DEF	XBRL Taxonomy Extension Definition Linkbase Document
101.LAB	XBRL Taxonomy Label Linkbase Document
101.PRE	XBRL Taxonomy Presentation Linkbase Document

SIGNATURES

†Pursuant ~~Indicates~~to ~~management~~the ~~contract~~requirements orof the Securities Exchange ~~compensatory~~Act ~~plan~~of or1934, ~~arrangement~~the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		PCT LTD


Date: May 16, 2022	By:	/s/ Gary Grieco
		Gary Grieco, Chief Executive Officer
		/s/ Arthur Abraham Arthur Abraham, Chief Financial Officer

~~SIGNATURES~~33

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

		PCT LTD
Date: November 15, 2021	By:	/s/ Gary Grieco
		Gary Grieco, Principal Executive Officer
		Chief Executive Officer and Chairman

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