SAN DIEGO, April 10, 2020 (GLOBE NEWSWIRE) -- Global Trac Solutions, Inc. (OTCPink: PSYC) (“Global” or the “Company”) is announcing that they have terminated the MOU and rescinded their offer to acquire World Innovation Technologies, LLC. (“WIT”).
“From a capitalization perspective, once we took a deep look at the business, it wasn’t justifiable for our business model. We are very impressed with their technology and product offerings but believe a better avenue will be to explore potential business initiative partnerships and synergies outside of an acquisition. While this is regrettable, I am convinced it is in the long-term best interests of the Company,” said Vanessa Luna, CEO.
About Global Trac Solutions, Inc. (OTC Pink:PSYC)
Global Trac Solutions is a diversified holding company dedicated to identifying new and emerging technologies specific to a variety of industry verticals ranging from Branding and Marketing, Fintech, Business Development, Sales and Distribution, High-Risk, Nutraceuticals, and more. We focus and leverage our team’s diverse experience to effectively execute go-to-market strategies in order to position the companies we engage with for rapid growth and a structure to enhance profitability potential. We believe in a forward-thinking approach that embraces groundbreaking new technology and innovations while providing our partners with the infrastructure and vision necessary to evolve into the industry leaders of the future. We truly are the right TRAC to follow.
Formerly, Global Payout Inc. (GOHE): From 2014-2019 Global was focused on the payments and financial industry sectors with an emphasis in high-risk.
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This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements by the following words: "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "ongoing," "plan," "potential," "predict," "project," "should," "will," "would," or the negative of these terms or other comparable terminology, although not all forward-looking statements contain these words. Forward-looking statements are not a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Forward-looking statements are based on information available at the time the statements are made and involve known and unknown risks, uncertainty and other factors that may cause our results, levels of activity, performance or achievements to be materially different from the information expressed or implied by the forward-looking statements in this press release. This press release should be considered in light of all filings of the Company that are disclosed on the OTC Markets.com website.
Corporate Contact:
Global Trac Solutions, Inc. www.globaltracsolutions.com (619) 925-3202 info@globaltracsolutions.com
