GBT Sells ECS Prepaid Financial Services to Focus On its Core Technology
October 07 2019 - 6:00AM
GBT Technologies Inc. (OTC PINK: GTCH) ("GBT”, or the “Company”), a
company specializing in the development of Internet of Things (IoT)
and Artificial Intelligence (AI) enabled networking and tracking
technologies, including its GopherInsight™ wireless mesh network
technology platform for both mobile and fixed solutions, announced
that it has concluded a sale of its ECS Prepaid Financial Services
business.
GBT is a technology company that also monetizes buying and
selling platforms which assist in funding and advancing the
Company’s core technologies.
The sale of ECS platform will allow GBT to focus
its resources on the technological and patented and patent-pending
technology platform highlighted by its GopherInsight, gNET Wireless
Mesh Network platform and its Avant! AI management system.
"It is still our strategic goal to launch our
world-class products and software with a focus on organic growth as
well as growth through strategic customer partnerships and merger
and acquisition activity. The sale will allow our human resources
to focus on the license of our core technology to third parties, as
we began with the announced GuardianOrb pet-tracking technology
agreement with our partner Shadalane,” said Douglas Davis, GBT’s
Chief Executive Officer. “Unfortunately, the recent litigation has
brought our other customer pilot projects, M&A activity and
discussions with technology partners to a halt, so we intend to
continue to explore various resolutions to continue moving GBT
forward,” continued Mr. Davis.
About GBT Technologies Inc.
GBT Technologies Inc. (OTC PINK: GTCH)
(“Gopher”) (http://gopherprotocol.com/) is a development-stage
company which considers itself a native IoT creator, developing
Internet of Things (IoT) and Artificial Intelligence (AI) enabled
mobile technology platforms. Gopher has a portfolio of Intellectual
Property that, when commercialized, will include smart microchips,
mobile and security applications and protocols, and supporting
cloud software. Gopher’s system envisions the creation of a global
mesh network. The core of the system will be its advanced microchip
technology that can be installed in any mobile or fixed device
worldwide. Gopher envisions this system as a low-cost, secure,
private mesh network between any enabled devices, providing shared
processing, advanced mobile database management/sharing and
enhanced mobile features as an alternative to traditional carrier
services.
https://www.avant-ai.net
About Surge Holdings, Inc:
Surge Holdings, Inc. is a retail supply chain
company that provides a virtual distribution hub for retailers, as
well as offer telecom services for low income customers and
financial payment services for the unbanked and under-banked. Surge
products are delivered through a nationwide network of convenience
stores and corner markets connected to the recently launched
SurgePays™ Network. This retail platform is designed to transform
the traditional supply chain by providing local retailers seamless
access to global products and to empower the corner store to
select, order and fulfill delivery of wholesale goods from around
the country. This platform also provides manufacturers a
cost-effective and efficient platform to access local retailers.
For more information on Surge Holdings and its subsidiaries, please
visit: https://surgeholdings.com.
Forward-Looking
StatementsCertain statements contained in this press
release may constitute "forward-looking statements".
Forward-looking statements provide current expectations of future
events based on certain assumptions and include any statement that
does not directly relate to any historical or current fact. Actual
results may differ materially from those indicated by such
forward-looking statements as a result of various important factors
as disclosed in our filings with the Securities and Exchange
Commission located at their website (http://www.sec.gov). In
addition to these factors, actual future performance, outcomes, and
results may differ materially because of more general factors
including (without limitation) general industry and market
conditions and growth rates, economic conditions, governmental and
public policy changes, the Company’s ability to raise capital on
acceptable terms, if at all, the Company’s successful development
of its products and the integration into its existing products and
the commercial acceptance of the Company’s products. The
forward-looking statements included in this press release represent
the Company's views as of the date of this press release and these
views could change. However, while the Company may elect to update
these forward-looking statements at some point in the future, the
Company specifically disclaims any obligation to do so. These
forward-looking statements should not be relied upon as
representing the Company's views as of any date subsequent to the
date of the press release.
Contact:Doug Davis, CEO GBT Technologies Inc.Media:
press@gopherprotocol.com
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