by PCTmarketing | Jul 26, 2021 |
TEMPE, AZ – July 26, 2021 – PCT International, Inc. has received Court approval for $5 million in funding upon Confirmation of its Chapter 11 Plan from TRGP Investment Partners, LP. TRGP has a successful track record of helping companies in similar circumstances to focus on growth and opportunity.
This funding bolsters PCT’s Chapter 11 plan as it heads toward Confirmation and demonstrates the strength of the malpractice claim against Robins Kaplan LLP. The funding will be provided by TRGP to PCT on a contingency basis. PCT is only required to repay the funding from the malpractice case winnings upon receipt of payment on its malpractice claim against Robins Kaplan. The funds advanced by TRGP are specifically available to pay creditors under the pending plan of reorganization, which has garnered the support of over 97% in amount and number of creditors in the case. The sole objector to the approval of the plan is Robins Kaplan.
Robins Kaplan was also the only party opposing the funding and the Court approved it over their objections. PCT’s General Counsel, Doug Drury noted: “We found Robins Kaplan’s objections to the funding odd. If they were confident in prevailing, why would they oppose $5 million in funding that wouldn’t have to be repaid if they won the malpractice case?”
In August of 2019, PCT engaged Leo Beus of the nationally renowned law firm of Beus Gilbert McGroder, PLLC of Phoenix, Arizona, to represent it in its malpractice case on a full contingency basis. BGM’s participation was instrumental in demonstrating the strength of the case and securing the TRGP funding. PCT continues its upward momentum and these positive developments are a direct reflection of the success, innovation, and growth that is to come.
Company Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
Media Contact
Isaac Valenzuela
VP Marketing
Andes Industries, Inc.
isaac.valenzuela@andesinc.com
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide.
by PCTmarketing | Jun 16, 2020 |
TEMPE, AZ – June 16, 2020 – Arizona Bankruptcy Judge Paul Sala issued an order declaring that PCT International, Inc. (PCT) is eligible to participate in the U.S. Paycheck Protection Program. SBA had sought to exclude PCT and other companies reorganizing in Chapter 11 from participating in the program. The Court found that Congress clearly set forth the qualifications for a company to participate in PPP and that PCT met those qualifications.
The Paycheck Protection Program (PPP) is one of several programs passed by Congress to alleviate the impacts on small businesses from the COVID-19 public health crisis. The SBA exceeded its authority by attempting to exclude reorganizing companies from the program. The court went on to note that, even if the SBA could add qualifications to the PPP, this proposed rule is contrary to the intent of Congress.
PCT’s General Counsel Douglas Drury stated that “The Court issued a thorough and well-reasoned opinion that fully supports the Congressional intent behind the PPP to assist businesses like PCT impacted by COVID-19.”
Company Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
Media Contact
Jineane Ford
Chief Information Officer
Andes Industries, Inc.
tel +1.480.603.0663
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide.
by PCTmarketing | Jun 10, 2020 |
TEMPE, AZ – June 9, 2020 – PCT has filed its reorganization plan in the U.S. Bankruptcy Court. PCT has the full support of its supply chain partners and lenders, allowing it to continue to serve its domestic and international customers. Additional capital contributions from shareholders are included in PCT’s plan, and the plan provides for full payment of its undisputed creditors.
Steve Youtsey, CEO of PCT, said, “This plan demonstrates that we are not about to abandon our customers or vendors. PCT has served the telecom industry faithfully and well for over twenty years and this plan shows that we will continue to do so. PCT has over 150 patents in our portfolio and our access to additional capital will allow PCT to expand upon our reputation as a leader in innovation and quality for global telecommunications infrastructure.”
PCT has also filed an adversary complaint in the U.S. Bankruptcy Court seeking relief against its former vendor, EZconn Corporation, from Taiwan and China, for giving PCT’s engineering and business trade secrets to a competitor, Holland Electronics, which is a subsidiary of Amphenol/Times Fiber. A favorable ruling on this adversary complaint would either entirely eliminate, or subordinate EZconn’s claims to those of PCT’s other creditors.
Company Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
Media Contact
Jineane Ford
Chief Information Officer
Andes Industries, Inc.
tel +1.480.603.0663
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide.
by PCTmarketing | Feb 5, 2020 |
MESA, AZ – February 5, 2020 – The U.S. Bankruptcy Court has granted motions filed by PCT International, Inc. to permit continued business operations of the company while it reorganizes in a Chapter 11 case. In granting PCT’s “First Day” motions, the Court has rejected objections filed by one of PCT’s former vendors aimed at gaining control of PCT and its intellectual property rights.
During the course of prior litigation PCT learned that its vendor, EZconn Corporation, from Taiwan and China, had given PCT’s engineering and business trade secrets to a competitor, Holland Electronics, which is a subsidiary of Amphenol/Times Fiber. PCT ceased doing business with EZconn based on these bad acts but PCT was ultimately forced into bankruptcy. The Bankruptcy Court’s ruling this week averted this latest attempt at a hostile takeover.
Following this ruling, Steve Youtsey, CEO of PCT, said, “We are very pleased that the Court gave us the breathing room we need to resume normal operations. We are more determined than ever to protect and fight for our IP rights and the legitimate interests of all our shareholders, creditors and customers.” “We also want to thank our valued supply chain partners and customers for their continued support and patience.”
PCT’s telecom business model remains strong and PCT remains committed to delivering the best quality products and at the best price. PCT will continue to develop innovative products to support the telecommunications infrastructure and ensure the company’s future success.
Company Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
Media Contact
Jineane Ford
Chief Information Officer
Andes Industries, Inc.
tel +1.480.603.0663
About
PCT International, Inc. is a privately owned company serving a significant segment of the global telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over four billion cable connectors around the world. PCT’s patented coaxial cable and connectors have been installed in millions of homes and businesses worldwide.
by PCTmarketing | Dec 11, 2019 |
MESA, AZ – December 2, 2019 – Following the filing of an Involuntary Petition by an adverse party, PCT International, Inc. has moved to convert the filing to Chapter 11 in order to protect itself from hostile actions aimed at gaining control of PCT and its intellectual property rights. PCT’s lenders are committed to the company with Sallyport Commercial Finance saying “We are supporting PCT and their Team 100% during their Chapter 11 restructuring process.” PCT is optimistic that the Court will quickly grant its Motion.
After 20 years, PCT’s telecom business model remains strong. PCT stays committed to delivering the best quality at the best price.
This action comes after a series of court decisions. In 2006, PPC/Belden brought an action against Holland/Amphenol Electronics for infringing PPC connector patents. PPC prevailed, putting Holland’s connector business in jeopardy. But then PCT’s former vendor, EZconn, secretly engineered compression connectors for Holland/Amphenol using PCT IP and trade secrets to keep Holland/Amphenol in the connector market.
Undisclosed to PCT, EZconn or its principals had a financial stake in Holland/Amphenol and used PCT’s IP and trade secrets to help keep the Holland/Amphenol connector business afloat. PCT brought an infringement suit against Holland when it was discovered that they had infringed on PCT’S IP. In 2015, the Court ruled in PCT’s favor and granted a Judgment against Holland/Amphenol.
During the course of that case PCT found that Holland was able to infringe its IP only because EZconn had given PCT’s IP and engineering trade secrets to them. It was also discovered that EZconn gave Holland PCT’s financial, cost, and pricing information. Court records include information supporting the fact that these disclosures occurred and that Michael Holland, President of Holland, asked EZconn to erase the emails between the two companies, fearing legal action.
PCT also learned that EZconn had taken its IP and obtained its own patents on that IP without PCT’s knowledge or consent. This included patents on PCT’s improved locking connector. PCT has filed an invalidity action to protect its IP and expects a positive outcome shortly.
PCT ceased doing business with EZconn based on these bad acts and in 2014 began legal action to address these issues. PCT sought judgment to recover damages for these acts. EZconn brought actions against PCT as well. But, the law firm that PCT used in that action did not properly plead the case which resulted in judgments being issued against PCT. PCT has retained the nationally renowned law firm of Beus Gilbert as counsel in a malpractice case against that firm.
This Chapter 11 filing provides PCT space to continue its operations, maintain its supply chain, protect its IP, ensure the company’s future success and thwart this attempted hostile takeover. PCT will continue to support its customers with quality products and services.
Contact
Doug Drury
President & General Counsel
PCT International, Inc.
pctinfo@pctintl.com
About
PCT International, Inc. is a privately owned company serving a significant segment of the U.S. telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over one billion coaxial cable connectors worldwide. PCT’s patented coaxial cable and connectors have been installed in approximately 10% of all homes and businesses in America. To learn more, visit, http://www.pctinternational.com/our-company/.
by PCTmarketing | Sep 9, 2019 |
MESA, AZ – September 6, 2019 – The numbers are staggering – there are over 175 cases of cheap knock-offs and counterfeits of PCT International, Inc. (PCT) products on websites originating from China and Taiwan, and the numbers are growing as more and more PCT products are pirated and added to such websites. In addition, many resellers hawk these products to unsuspecting consumers through eBay, Amazon and other domestic and international distribution channels.
PCT has spent millions fighting to protect its intellectual property rights. Systems are being flooded with inferior components unwittingly installed by personnel deceived by external appearance and realistic labels and lured by lower prices. Pirates are all willing to forego any semblance of quality controls in order to keep their own costs to an absolute minimum. Resulting system degradation is readily apparent from user complaints and the high cost of system maintenance.
To profit from their criminal activities, pirates brazenly use PCT’s intellectual property to generate sales. PCT’s product names, part numbers, labels, photographs, drawings, images, artwork and packaging are all copied, often without any edit or variation. PCT’s published product text and specifications are copied verbatim, regardless of actual manufacturing specifications or quality control or the true performance of the knockoffs;
Of course, not all such products are marketed or sold with PCT labels, logos or part numbers. Some have no identification at all; others have packaging or labels or stampings with some other western-sounding name. It is not at all uncommon to find knockoffs of PCT products being marketed with an assortment of branding or identifying information.
Contact
Jineane Ford
Chief Information Officer
Andes Industries, Inc.
tel +1.480.603.0663
About
PCT International, Inc. is a privately owned company serving a significant segment of the U.S. telecommunications infrastructure. PCT has manufactured over 1,000,000 miles of coaxial cable with its proprietary technology. PCT has also sold over one billion coaxial cable connectors worldwide. PCT’s patented coaxial cable and connectors have been installed in approximately 10% of all homes and businesses in America. To learn more, visit, http://www.pctinternational.com/our-company/.
