Global Changes Ticker Symbol to PSYC and Enters the Emerging Psychedelic Market Amidst the Covid-19 Pandemic
April 13 2020 - 8:30AM
InvestorsHub NewsWire
Global Changes Ticker Symbol to PSYC
and Enters the Emerging Psychedelic Market Amidst
the Covid-19 Pandemic
LAS VEGAS, NV -- April 13, 2020 --
InvestorsHub NewsWire -- Global Trac Solutions, Inc. (OTCPink:
PSYC) (“Global” “PSYC” or the “Company”) is pleased to announce
they have successfully changed their name and corresponding ticker
symbol to PSYC in order to align it with their newest business
venture objectives.
“PSYC has always been at the
forefront of innovative technologies, new industries and market
perspective. Most recently, we took an underserved industry in dire
need of a cashless payment processing solution and successfully
delivered it through MTrac, which quickly evolved into the first
significant revenue source in our company’s history,” said Vanessa
Luna, CEO of Global Trac Solutions. “During this process we
also assembled a truly unique and powerful network of innovators,
partners and leaders from a variety of different new and emerging
industries. While the presence we have established for PSYC has
afforded us the benefit of being presented with several
opportunities for new ventures, our immediate and long term success
has remained a top priority and has guided our decision making
every step of the way.”
“At the core of PSYC’s identity is
a genuine passion for ingenuity and bold innovations that refuse to
be tamed by the status quo. We have
positioned ourselves in the past as your resource for discovering
Cannabis through our PotSaver publication which will now transition
towards acting as a resource center for the psychedelic industry at
large. With this in mind, I am both proud and excited to
share that over the coming months it is my intent to begin laying
the strategic groundwork for PSYC to emerge as a recognized
trailblazer in the sector of Psychedelic Medicine, which I believe
to be currently on a path to transforming the world of mental
health as we know it,” Vanessa Luna, continues.
While the subject of medicinal
psychedelics remains a hot topic, and there are no assurances as to
material matters such as FDA approval, legalization, or general
acceptance, in my opinion, it is reminiscent of how medicinal
marijuana was hotly debated leading up to its wave of legalization
across the U.S. There are a growing number of cities across the
country including Denver, Santa Cruz, Portland and Chicago that are
pushing for its decriminalization based on the demonstrated
benefits of treating mental disorders ranging from depression to
anxiety, and PTSD. As this industry begins to lay a foundation for
itself, we intend to leverage our team’s knowledge of the business
aspect of content production, resource availability, and strategic
networks, within our anticipated launch of a new multi-level
engagement platform. Through subscribership and utilization, as a
resource marketplace, PSYC will be centered around the emergence of
medicinal psychedelics.
“Some of the recent developments
supporting our decision to open up our business expertise in this
emerging market surround recent global events taking place, such as
the Covid-19 pandemic, and the potentially beneficial effects some
of these alternative medicines can have,” Vanessa Luna
continued.
For Example:
Forbes recently reported:
“The Federal administration has
green-lit expanded telehealth
services, relaxing
regulations to
reduce exposure to the coronavirus – SARS-CoV-2. This has opened
the door to innovation in the medical community, with one company
going for a fully remote ketamine treatment option for anxiety and
depression.”
The Sacramento Bee
reported:
A recent
clinical trial of
veterans, firefighters, and police officers with PTSD found that
after two doses of MDMA, symptoms were significantly reduced, and
this effect lasted until the study ended at one year. According
to a 2020 study from the Journal of
Psychopharmacology, a single dose of
psilocybin can make symptoms of depression significantly improve,
and this benefit lasts multiple years. Recognizing this, the Food
and Drug Administration (FDA) has recently given “breakthrough”
status to MDMA and psilocybin.
This means the FDA is expediting development and review of MDMA and
psilocybin because they “may demonstrate substantial improvement
over other therapy on a clinically significant endpoint.” Still, it
could be years before final approval. Last month,
the FDA
relaxed regulations in the approval process for COVID-19
therapies, because addressing
the problem faster can “flatten the curve.” This means keeping the
health infrastructure from being overwhelmed by new cases. Speedily
addressing psychiatric issues with the best therapies available can
similarly protect our healthcare system.
Renowned places such
as John Hopkins Center for Psychedelic & Consciousness Research
are at the helm of research and state:
“Johns
Hopkins is deeply committed to exploring innovative treatments for
our patients. Our scientists have shown that psychedelics have real
potential as medicine, and this new center will help us explore
that potential.” - Paul B. Rothman, M.D., Dean of the Johns Hopkins
University School of Medicine and CEO of Johns Hopkins
Medicine.”
“Over the next several months, we
intend to strategically leverage the more than 30 psychedelic-based
domains we have secured to launch some of the new and exciting
business ventures we believe will be at the forefront of
establishing PSYC as a valuable resource within this industry. It
is also our intention to continue to focus on MTrac’s growth as a
trusted resource marketplace within the cannabis industry, and
continue to leverage the valuable partnerships we have cultivated
over the last three years through its growth to deliver
cutting-edge software, marketing and technology solutions to an
industry that is still experiencing significant expansion. We also
remain focused and dedicated to identifying substantial business
ventures that are aligned with the core objectives and fundamentals
of our company with an unwavering commitment to effectively
position the Company for success and profitability,” said Vanessa
Luna, CEO.
Shareholders can stay informed
through subscription and future launch of one of our websites found
at:
www.psychedelicspotlight.com
(which
website is not expressly incorporated into this press
release)
Cited
Sources:
1.
https://www.forbes.com/sites/javierhasse/2020/03/20/psychedelic-therapy-covid-19/#1af518a74c31
2.
https://www.sacbee.com/opinion/california-forum/article241689776.html
3. https://hopkinspsychedelic.org/
4.
https://www.law.com/thelegalintelligencer/2020/03/19/beyond-marijuana-how-psychedelics-became-the-next-big-wave/?slreturn=20200311203055
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.
Corporate
Contact:
Global Trac Solutions,
Inc. (PSYC)
www.globaltracsolutions.com
(619)
925-3202
info@globaltracsolutions.com
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