SAN DIEGO, April 10, 2020 — Global Trac Solutions, Inc. (PSYC) (“Global” or the “Company”) is announcing that they have terminated the MOU and rescinded their offer to acquire World Innovation Technologies, LLC.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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