PSYC Corporation, formerly known as Global Trac Solutions, Inc. (OTCPK: PSYC) and the company behind psychedelic news and information platform Psychedelic Spotlight, completed the process of changing its corporate name from Global Trac Solutions, Inc. to PSYC Corporation.
The company will continue to operate with the ticker symbol “PSYC.”
However, the management contends that the change in its entity’s name is intended to offer a more accurate representation within the public market sector of the company’s evolution over the past 18 months into a formidable media leader for the emerging medicinal psychedelic industry, which it contends it achieved through the success of its Psychedelic Spotlight platform.
Management Commentary
“PSYC underwent a significant transformation in the last year-and-a-half,” David Flores , PSYC’s CEO, said. “I believe our previous corporate name no longer accurately reflects who we are as a company today and who we intend to be in the years ahead.
“In the past several months, we fully embraced our identity as a leading media source for the growing psychedelics community, and, in my opinion, also established a reasonably visible path forward to create long term value for our loyal shareholders,” Flores continued. “With, what is in my opinion, the best ticker symbol in the space already on our side, our focus is to leverage this corporate name reset to help further solidify our position in an industry that continues to demonstrate exciting growth potential.”
“We believe this establishes more clarity for PSYC to expand on current and future media-focused ventures as well as other opportunities for revenue mix diversification within the psychedelic space,” PSYC Advisory Board Member and Acting VP Finance Craig Schlesinger, said. “While continuing to fortify PSYC’s position as a trusted media leader for medicinal psychedelics, we’re also dedicated to exploring strategies in the coming months to integrate, scale up and out, and amplify PSYC’s performing assets vertically and horizontally.”
