LAS VEGAS, April 13, 2020 (GLOBE 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/
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