POMPANO BEACH, FL / ACCESSWIRE / September 9, 2020 / Global Boatworks Holdings, Inc. (OTC PINK:GBBT) (“Global”) announced today that the Company has signed a definitive Share Exchange Agreement with Baltimore, Maryland based R3 Score Technologies, Inc. (“R3 Score”) (www.R3Score.com) and its shareholders. Pursuant to the Share Exchange Agreement, Global is expected to acquire an initial 94% of the issued and outstanding shares of common stock of R3 Score Technologies, Inc. with the ability to increase to 100% of the issued and outstanding shares of common stock of R3 Score in exchange for shares of Global’s common stock.
The acquisition of R3 Score shares marks a very exciting and important point in Global history, the next step should propel both shareholder groups forward in an extremely promising field with a relevant product at this time in our nation’s history. R3 Score is an emerging technology with wide case business use designed for the 1-in-3 Americans, (more than 70 million people), living with an arrest or conviction record. R3 Score has a pathway to expand to the general public and especially those with thin consumer credit files and who are left out of traditional credit scoring models. The criminal background screening opportunity serves as an ideal place, to begin with, amidst the growing dialogue around social unrest and economic justice nationally. R3 Score’s product offerings are timely and offer marketplace solutions for millions who need to rebuild their lives and want tools that take a more holistic approach using alternative data.
Upon closing of the transaction, R3 Score will become the primary operating subsidiary of Global going forward with key management transitioning to Global as the ongoing operators. Global intends to revise its business model, change its name to R3 Technologies Holdings Inc. and apply for a new trading symbol reflective of its new name. From the time of closing the Share Exchange Agreement, all of Global’s resources and efforts will be focused on the continuation of the R3 Score Technologies, Inc. current and future operations. From time to time GBBT/R3 Score will update the investing public through their Twitter, Facebook and LinkedIn accounts.
About R3 Score Technologies, Inc.
R3 Score has pioneered a proprietary data-driven scoring designed to unlock new valuable employees and financial services consumers utilizing a multi-factor algorithm based on 11 factors assessing character, capacity, and current choice. R3 Score sells its core product directly to businesses and consumers offering a contextualized background report and an alternative credit score. The alternative criminal background check is the wedge into the market with the goal of generating revenue as R3 Score seeks to grow more traditional and modern financial services.
About Global Boatworks Holdings, Inc.
Global Boatworks Holdings Inc. is a publicly trading company, which is a multifaceted “Luxury Living Vessel” manufacturer located in South Florida. The Company has previously built and operated a highly successful charter vessel in Boston, and currently has designed, constructed and sold a state-of-the-art luxury living vessel, in South Florida.
This press release contains forward-looking statements that are subject to many risks and uncertainties. Forward-looking statements include, among other things, statements regarding our intentions, beliefs, projections, outlook, analyses or current expectations. Such risks and uncertainties include, among others, the inherent uncertainties associated with developing new products or technologies, regulatory approvals if any, unexpected expenditures, the ability to raise the additional funding needed to continue to pursue its business and product development plans and overall market conditions. These forward-looking statements are made as of the date of this press release, and the company assumes no obligation to update the forward-looking statements.
We may use terms such as “projects,” “believes,” “estimates,” “anticipates,” “expects,” “plans,” “intends,” “may,” “could,” “might,” “will,” “should,” “approximately,” or other words that convey the uncertainty of future events or outcomes to identify these forward-looking statements. Although we believe that we have a reasonable basis for each forward-looking statement contained herein, we caution you that forward-looking statements are not guarantees of future performance and that our actual results may differ materially from the forward-looking statements contained in this press release. As a result of these factors, we cannot assure you that the forward-looking statements in this press release will prove to be accurate.
R3 Score Technologies, Inc.