GBT Technologies indicates interest to acquire Two Hands Corp

WEST HOLLYWOOD - GBT Technologies Inc. (OTC Pink:GTCH), a technology company with a current market capitalization of $7.65 million according to InvestingPro data, announced Friday that its Board of Directors has authorized a non-binding indication of interest to acquire Two Hands Corporation (CSE:TWOH).

The proposed offer values Two Hands at $0.00625 per share, to be paid through a combination of cash and GBT shares that will be determined in final negotiations. The proposal includes GBT’s assumption of all outstanding Two Hands debt obligations. This comes as GBT itself carries a total debt of $2.07 and shows an Altman Z-Score of -16.62, indicating potential financial challenges according to InvestingPro metrics.

GBT’s interest in Two Hands follows Two Hands’ July 7 announcement of its transition to an investment holding company focused on digital markets, technology, fintech, and the Gig Economy. In August, Two Hands launched a Digital Asset Treasury and Trading Desk with More Money Ltd as its operating partner.

Two Hands has scheduled a shareholder meeting in November to approve its change in business direction, which GBT states aligns with its own repositioning as a merchant banking platform potentially using the Wertheim & Company branding.

"We believe that the addition of Two Hands’ new business initiatives to GBT’s existing technology and investment platforms could accelerate the future development plans of GBT," said Michael Murray, Chief Executive Officer of GBT Technologies.

The indication of interest remains non-binding and non-exclusive. The transaction would require negotiation of definitive agreements, due diligence completion, and regulatory and shareholder approvals.

According to the press release statement, GBT plans to file a Form 8-K with the Securities and Exchange Commission only if definitive agreements are executed. For investors seeking deeper insights into GBT’s financial health and growth potential, InvestingPro offers comprehensive analysis with additional ProTips and advanced metrics to evaluate acquisition opportunities like this one.

In other recent news, VisionWave Holdings, Inc. has announced the formation of a joint venture with Israel-based AIPHEX LTD to develop defense and space technologies. The Nevada-based joint venture is valued internally at approximately $5 billion, with VisionWave and AIPHEX each owning 46.76%, while GBT Tokenize Corp. and GBT Technologies hold smaller stakes. Additionally, VisionWave has signed a Memorandum of Understanding with VEDA Aeronautics to collaborate on defense projects for the Indian Ministry of Defense. These projects include the development of interceptor drones and retrofitting tanks.

Moreover, VisionWave has entered into new employment agreements with three executives, which include salary increases tied to revenue targets. Elad Shoval, David Allon, and Jaz Williman have been appointed to key positions, with potential salary increases if the company reaches specific revenue milestones. Each executive is also eligible for performance bonuses based on net revenue or income. These developments underscore VisionWave’s strategic initiatives in expanding its defense technology collaborations and strengthening its leadership team.

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