PSYC Receives Additional Capital at 10x to Finalize 2019 Audit and File Registration Statement
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SAN DIEGO, May 12, 2020 (GLOBE NEWSWIRE) -- Global Trac Solutions, Inc. (OTCPink: PSYC) (“Global” “PSYC” or the “Company”) is pleased to announce that, as a continuation of the capital support provided by a key investor and significant show of support for the Company’s psychedelics initiative, the Company has received additional funding at 10x valuation to finalize the 2019 Audit, which the Company believes is on track to be finalized within the coming days.
“It has been incredibly challenging work to get this Company’s financials in an auditable position, but as we are now approaching the finish line with this process, I am excited to be closer than we have ever been before to becoming the fully transparent Company I have envisioned since day one as CEO,” said Global Trac Solutions CEO, Vanessa Luna. “We are very fortunate to have this incredibly critical and beneficial financial support made available to us, and especially when we are so close to successfully completing the audit and achieving our long-standing objective of filing our Form-10. I remain cautiously optimistic that in the coming weeks we could very well be in a position to announce the filing of our Form-10, and I would like to extend my thanks and gratitude to our valued share and stakeholders who have demonstrated a tremendous level of faith and patience throughout this process.”
Becoming fully reporting will represent a major milestone for the Company and illustrates the dedication to transparency Ms. Luna has continuously promised. This move could also place the Company in a much more competitive position with the potential to open doors to new partnerships and capital opportunities, which the Company will look to leverage as it moves full steam ahead with its foray into the booming medicinal psychedelic market space.
About Global Trac Solutions, Inc. (OTC Pink: PSYC)
Global Trac Solutions is a diversified holding company dedicated to identifying new and emerging industries. By utilizing our years of business development expertise our diverse team of innovators continuously leverages our experience to effectively execute go-to-market strategies in order to position ourselves for rapid growth through the creation of an evolving business foundation to enhance profitability potential.
Since 2017, PSYC has been a pioneer in the emerging software and payment processing sector of the cannabis industry and has established itself as a trusted resource for businesses operating within the industry. Today, PSYC through its network of partners and affiliates, continues to connect businesses throughout the cannabis industry with critical solutions and services ranging from payment processing technology, cutting-edge software, and ancillary services vital to compliant and effective business operations.
Most recently, PSYC has expressed its intent and commitment to positioning itself at the forefront of the psychedelic revolution and as a resource center for discovering and understanding the latest research and business opportunities surrounding psychedelic inspired medicines. In conjunction with the FDA’s more open-minded approach to psychedelic medicines, and as several major U.S. cities continue to approve the decriminalization of psilocybin, investors are speculating that the psychedelic boom could be bigger than that of cannabis. PSYC is your source for current investment related news specific to psychedelic medicines and cutting-edge research improving overall health, moving this sector into the mainstream.
We believe in a forward-thinking approach that embraces groundbreaking new technology and innovations and through the vision of business development we intend to continue to evolve into these unchartered territories as the industry leaders of the future. We truly are the right TRAC to follow.
Forward-Looking Statements Disclaimer:
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.
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