total accounts receivable from the noteholder of $ 28,090 was applied to the note during the year ended december 31 , 2019. c ) on april 8 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 52,063 of which $ 9,563 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 42,500 . the note is due on april 8 , 2020 and results in an annual percentage rate of 40 % . the note was repaid during the year ended december 31 , 2019. d ) on june 20 , 2019 the company entered into a promissory note with a non-related party for $ 40,000 . the note is due december 31 , 2019 , is unsecured and bears an interest rate of 8 % per annum . on september 15 , 2019 , the company received an additional $ 50,000 from the lender and issued a new promissory note for $ 90,596 which was equal to the original $ 40,000 note , $ 596 of accrued interest and the additional $ 50,000 advanced . the promissory note is due march 16 , 2020 , is unsecured and bears an interest rate of 8 % per annum . e ) on june 21 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 6,741 of which $ 641 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 6,100 . the note is due on april 8 , 2020 and results in an annual percentage rate of 32 % . the note was repaid during the year ended december 31 , 2019. f ) on october 3 , 2019 , the company entered into a promissory note with a non-related party for $ 50,000 . the note is due on april 3 , 2020 and bears interest at a rate of 12 % . on october 9 , 2019 , the company had repaid $ 12,500 of the loan . g ) on november 12 , 2019 , the company entered into a promissory note with a non-related party for $ 17,500 . the note is due november 12 , 2020 , is unsecured and bears an interest rate of 8 % per annum . h ) on december 12 , 2019 , the company entered into a loan with a non-related party for $ 12,250 of story_separator_special_tag 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 , recording annual net losses of $ 16,578,564 and $ 3,182,483 for the years ended december 31 , 2019 and 2018. pct ltd remains dependent upon additional financing to continue operations . the company intends to raise additional financing through private placements of its common/preferred stock and debt financing . 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 . 25 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 2020 ; and general and administrative operating costs . management projects these costs to total approximately $ 2,700,000. 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 2020. story_separator_special_tag depreciation and amortization expenses increased in 2019 due to placing equipment into service during the year and amortization of new intangible assets . total other income ( expenses ) increased to $ 14,896,628 for the 2019 year compared to $ 514,540 for the 2018 year . the overall increase was mainly from an increase in loss on fair value of derivative liability of $ 12,689,225. story_separator_special_tag total accounts receivable from the noteholder of $ 28,090 was applied to the note during the year ended december 31 , 2019. c ) on april 8 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 52,063 of which $ 9,563 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 42,500 . the note is due on april 8 , 2020 and results in an annual percentage rate of 40 % . the note was repaid during the year ended december 31 , 2019. d ) on june 20 , 2019 the company entered into a promissory note with a non-related party for $ 40,000 . the note is due december 31 , 2019 , is unsecured and bears an interest rate of 8 % per annum . on september 15 , 2019 , the company received an additional $ 50,000 from the lender and issued a new promissory note for $ 90,596 which was equal to the original $ 40,000 note , $ 596 of accrued interest and the additional $ 50,000 advanced . the promissory note is due march 16 , 2020 , is unsecured and bears an interest rate of 8 % per annum . e ) on june 21 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 6,741 of which $ 641 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 6,100 . the note is due on april 8 , 2020 and results in an annual percentage rate of 32 % . the note was repaid during the year ended december 31 , 2019. f ) on october 3 , 2019 , the company entered into a promissory note with a non-related party for $ 50,000 . the note is due on april 3 , 2020 and bears interest at a rate of 12 % . on october 9 , 2019 , the company had repaid $ 12,500 of the loan . g ) on november 12 , 2019 , the company entered into a promissory note with a non-related party for $ 17,500 . the note is due november 12 , 2020 , is unsecured and bears an interest rate of 8 % per annum . h ) on december 12 , 2019 , the company entered into a loan with a non-related party for $ 12,250 of story_separator_special_tag 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 , recording annual net losses of $ 16,578,564 and $ 3,182,483 for the years ended december 31 , 2019 and 2018. pct ltd remains dependent upon additional financing to continue operations . the company intends to raise additional financing through private placements of its common/preferred stock and debt financing . 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 . 25 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 2020 ; and general and administrative operating costs . management projects these costs to total approximately $ 2,700,000. 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 2020. story_separator_special_tag depreciation and amortization expenses increased in 2019 due to placing equipment into service during the year and amortization of new intangible assets . total other income ( expenses ) increased to $ 14,896,628 for the 2019 year compared to $ 514,540 for the 2018 year . the overall increase was mainly from an increase in loss on fair value of derivative liability of $ 12,689,225.

liquidity and capital resources replace_table_token_7_th the company recorded a net loss of $ 16,578,564 and had a working capital deficit of $ 14,065,748 for the year ended december 31 , 2019. we have recorded significant incremental increases in revenues from operations since inception and we are establishing ongoing source of revenue sufficient to cover our operating costs . during 2019 and 2018 the company relied on raising equity capital and borrowing from stockholders and third parties to fund its ongoing day-to-day operations and its corporate overhead . as december 31 , 2019 we had $ 67,613 in cash compared to $ 4,893 in cash at december 31 , 2018. we had total liabilities of $ 14,290,486 at december 31 , 2019 compared to $ 3,141,401 at december 31 , 2018. total assets decreased by $ 472,213 to $ 4,374,775 at december 31 , 2019 compared to $ 4,846,988 at december 31 , 2018. this decrease is primarily from depreciation and amortization recorded on intangible assets and property and equipment during the year ended december 31 , 2019 and a decrease in prepaid expenses . this was offset by increases in cash and accounts receivable . 26 total liabilities increased by $ 11,149,085 to $ 14,290,486 at december 31 , 2019 compared to $ 3,141,401 at december 31 , 2018. this increase is primarily additions to convertible notes payable ( net of discount ) of approximately $ 633,819 , derivative liabilities of $ 10,194,897 and to accrued expenses of approximately $ 527,668 related to accrued expenses of mostly interest during the year ended december 31 , 2019. our current cash flow is not sufficient to meet our monthly expenses of approximately $ 225,000 and to fund future research and development .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources replace_table_token_7_th the company recorded a net loss of $ 16,578,564 and had a working capital deficit of $ 14,065,748 for the year ended december 31 , 2019. we have recorded significant incremental increases in revenues from operations since inception and we are establishing ongoing source of revenue sufficient to cover our operating costs . during 2019 and 2018 the company relied on raising equity capital and borrowing from stockholders and third parties to fund its ongoing day-to-day operations and its corporate overhead . as december 31 , 2019 we had $ 67,613 in cash compared to $ 4,893 in cash at december 31 , 2018. we had total liabilities of $ 14,290,486 at december 31 , 2019 compared to $ 3,141,401 at december 31 , 2018. total assets decreased by $ 472,213 to $ 4,374,775 at december 31 , 2019 compared to $ 4,846,988 at december 31 , 2018. this decrease is primarily from depreciation and amortization recorded on intangible assets and property and equipment during the year ended december 31 , 2019 and a decrease in prepaid expenses . this was offset by increases in cash and accounts receivable . 26 total liabilities increased by $ 11,149,085 to $ 14,290,486 at december 31 , 2019 compared to $ 3,141,401 at december 31 , 2018. this increase is primarily additions to convertible notes payable ( net of discount ) of approximately $ 633,819 , derivative liabilities of $ 10,194,897 and to accrued expenses of approximately $ 527,668 related to accrued expenses of mostly interest during the year ended december 31 , 2019. our current cash flow is not sufficient to meet our monthly expenses of approximately $ 225,000 and to fund future research and development .
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 Suspicious Activity Report : total accounts receivable from the noteholder of $ 28,090 was applied to the note during the year ended december 31 , 2019. c ) on april 8 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 52,063 of which $ 9,563 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 42,500 . the note is due on april 8 , 2020 and results in an annual percentage rate of 40 % . the note was repaid during the year ended december 31 , 2019. d ) on june 20 , 2019 the company entered into a promissory note with a non-related party for $ 40,000 . the note is due december 31 , 2019 , is unsecured and bears an interest rate of 8 % per annum . on september 15 , 2019 , the company received an additional $ 50,000 from the lender and issued a new promissory note for $ 90,596 which was equal to the original $ 40,000 note , $ 596 of accrued interest and the additional $ 50,000 advanced . the promissory note is due march 16 , 2020 , is unsecured and bears an interest rate of 8 % per annum . e ) on june 21 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 6,741 of which $ 641 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 6,100 . the note is due on april 8 , 2020 and results in an annual percentage rate of 32 % . the note was repaid during the year ended december 31 , 2019. f ) on october 3 , 2019 , the company entered into a promissory note with a non-related party for $ 50,000 . the note is due on april 3 , 2020 and bears interest at a rate of 12 % . on october 9 , 2019 , the company had repaid $ 12,500 of the loan . g ) on november 12 , 2019 , the company entered into a promissory note with a non-related party for $ 17,500 . the note is due november 12 , 2020 , is unsecured and bears an interest rate of 8 % per annum . h ) on december 12 , 2019 , the company entered into a loan with a non-related party for $ 12,250 of story_separator_special_tag 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 , recording annual net losses of $ 16,578,564 and $ 3,182,483 for the years ended december 31 , 2019 and 2018. pct ltd remains dependent upon additional financing to continue operations . the company intends to raise additional financing through private placements of its common/preferred stock and debt financing . 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 . 25 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 2020 ; and general and administrative operating costs . management projects these costs to total approximately $ 2,700,000. 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 2020. story_separator_special_tag depreciation and amortization expenses increased in 2019 due to placing equipment into service during the year and amortization of new intangible assets . total other income ( expenses ) increased to $ 14,896,628 for the 2019 year compared to $ 514,540 for the 2018 year . the overall increase was mainly from an increase in loss on fair value of derivative liability of $ 12,689,225. story_separator_special_tag total accounts receivable from the noteholder of $ 28,090 was applied to the note during the year ended december 31 , 2019. c ) on april 8 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 52,063 of which $ 9,563 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 42,500 . the note is due on april 8 , 2020 and results in an annual percentage rate of 40 % . the note was repaid during the year ended december 31 , 2019. d ) on june 20 , 2019 the company entered into a promissory note with a non-related party for $ 40,000 . the note is due december 31 , 2019 , is unsecured and bears an interest rate of 8 % per annum . on september 15 , 2019 , the company received an additional $ 50,000 from the lender and issued a new promissory note for $ 90,596 which was equal to the original $ 40,000 note , $ 596 of accrued interest and the additional $ 50,000 advanced . the promissory note is due march 16 , 2020 , is unsecured and bears an interest rate of 8 % per annum . e ) on june 21 , 2019 , the company entered into a promissory bank loan with a non-related party for $ 6,741 of which $ 641 was the loan fee or original issue discount resulting in cash proceeds to the company of $ 6,100 . the note is due on april 8 , 2020 and results in an annual percentage rate of 32 % . the note was repaid during the year ended december 31 , 2019. f ) on october 3 , 2019 , the company entered into a promissory note with a non-related party for $ 50,000 . the note is due on april 3 , 2020 and bears interest at a rate of 12 % . on october 9 , 2019 , the company had repaid $ 12,500 of the loan . g ) on november 12 , 2019 , the company entered into a promissory note with a non-related party for $ 17,500 . the note is due november 12 , 2020 , is unsecured and bears an interest rate of 8 % per annum . h ) on december 12 , 2019 , the company entered into a loan with a non-related party for $ 12,250 of story_separator_special_tag 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 , recording annual net losses of $ 16,578,564 and $ 3,182,483 for the years ended december 31 , 2019 and 2018. pct ltd remains dependent upon additional financing to continue operations . the company intends to raise additional financing through private placements of its common/preferred stock and debt financing . 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 . 25 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 2020 ; and general and administrative operating costs . management projects these costs to total approximately $ 2,700,000. 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 2020. story_separator_special_tag depreciation and amortization expenses increased in 2019 due to placing equipment into service during the year and amortization of new intangible assets . total other income ( expenses ) increased to $ 14,896,628 for the 2019 year compared to $ 514,540 for the 2018 year . the overall increase was mainly from an increase in loss on fair value of derivative liability of $ 12,689,225.

