other material
confidence high
sentiment neutral
materiality 0.70
GBT Technologies' JV acquires GTX Corp $100K notes, 5M shares; parent contributes 150M shares to JV
GBT Technologies Inc.
- GBT Tokenize acquired $100,000 principal GTX Corp convertible notes (10% interest, $0.01/share conversion) and 5M shares for $150,000.
- GBT Technologies contributed 150M shares of its common stock to GBT Tokenize as part of amended joint venture, retaining 50% ownership.
- Magic Internacional contributed $250,000 cash plus all needed funding; each party holds 50% of Tokenize.
- Company pledged its 50% stake in Tokenize and 100% of subsidiary Greenwich to Magic as collateral.
- GBT appoints two directors and Magic appoints one director to the Tokenize board.