GlobeTrac Inc.: Letter Agreement Terminated
January 24 2012 - 6:44PM
Marketwired
GlobeTrac Inc. (OTCBB:GBTR) ("GlobeTrac") announces that the
potential merger between GlobeTrac and Equities.com, Inc. has been
terminated.
The Letter Agreement dated September 26, 2011, between
GlobeTrac, David Bernard and Michael Avatar was terminated by Mr.
Bernard and Mr. Avatar. On January 23, 2012, Mr. Bernard and Mr.
Avatar advised GlobeTrac that they decided to terminate the Letter
Agreement as a result of failing to secure the requiste third-party
financing for the proposed share purchase.
Safe Harbor Notice
Certain statements contained herein are "forward-looking
statements" (as defined in the Private Securities Litigation Reform
Act of 1995). GlobeTrac Inc. cautions that statements made in this
news release constitute forward-looking statements and makes no
guarantee of future performance. Forward-looking statements are
based on estimates and opinions of Management at the time
statements are made. These statements may address issues that
involve significant risks, uncertainties, estimates and assumptions
made by Management. Actual results could differ materially from
current projections or implied results. GlobeTrac Inc. undertakes
no obligation to revise these statements following the date of this
news release.
Contacts: GlobeTrac Inc. John da Costa
Presidentinfo@globetrac.com