8-K
GBT Technologies Inc. (GTCH)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
DC 20549
FORM
8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934
Date of Report (Date of earliest event reported): April
25, 2023
GBT
TECHNOLOGIES INC.
(Exact name of small business issuer as specified in its charter)
| Nevada | 000-54530 | 27-0603137 |
|---|---|---|
| (State or other jurisdiction of incorporation or organization) | Commission File Number | (I.R.S. Employer Identification No.) |
2450 Colorado Ave., Suite 100E, Santa Monica,CA 90404
(Address of principal executive offices) (Zip code)
Registrant’s telephone number including area code:
888-685-7336
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instructions A.2. below):
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act: Not applicable.
| Title<br> of each class | Trading<br> Symbol | Name<br> of each exchange on which registered |
|---|---|---|
| Not<br> applicable. |
Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.02 Results of Operationsand Financial Condition
On April 25, 2023, GBT Technologies, Inc. (the “Company”) issued a press release providing a corporate update. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information contained in this Item 2.02 shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.
Item 9.01 Financial Statements and Exhibits.
(d) Index of Exhibits
| Exhibit Number | Description |
|---|---|
| 99.1 | Press Release dated April 25, 2023 |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
| GBT TECHNOLOGIES INC. | |
|---|---|
| By: | /s/ Mansour<br> Khatib |
| Name: | Mansour Khatib |
| Title: | Chief Executive Officer |
Date: April 25, 2023
EXHIBIT 99.1
GBT IP Technology Portfolio and Other Updates
Santa Monica, April 25, 2023 -- GBT Technologies Inc. (OTC PINK: GTCH ) (“GBT” or the “Company”), is pleased to provide an update covering its intellectual properties (“IP”) portfolio and other news.
GBT is continuing to focus on its core competency around Research & Development (“R&D”) through the self-developing of a targeted technology IP portfolio combining patents, trade secrets and prototypes.
GBT now holds 14 patents and has 25 submissions within the following domains: asset tracking, 3-D MP Microchip Design (semiconductors), EDA software-tools, ID, cyber security, pattern recognition, tele-health, health, AI, Avant!AI, computer vision systems, IoT, mesh networks, radio networks. The Company has been focused on delivering a steady stream of new IP with the goal of portfolio expansion and the development of new ideas and successful patents since it switched to an IP business model a bit over two years ago. In the first Q of 2023, GBT added another four approved patents to the growing IP.
With positive industry feedback, GBT will continue to focus on expanding the family of its various patents and concentrating on strategic potential partnerships with the goal of integrating these technologies into a broad marketplace, diversifying the risk within all these areas.
GBT 1Q 2023 Highlights:
| ● | 12.5%<br> IP Portfolio growth increase in the 1Q 2023 |
|---|---|
| ● | GBT<br> filed its Annual Report for the year ended December 31, 2023 |
| ● | AVANT!<br> AI™, the core AI system of GBT, was registered as a trademark to provide name and IP<br> protection. The core technology will remain a trade secret but is now open for licensing<br> to build specific applications or application skins. Press Release Trademark |
| ● | The<br> qTerm health device has been tested and with approval of the patent on May 2, 2023, the technology<br> and hardware are ready to be licensed and manufactured by a 3^rd^ party. Patent<br> Announcement |
| ● | GBT<br> signed a binding LOI with Bannix Acquisition Corp for GBT’s Apollo technology in conjunction<br> with self-driving cars and public transport passenger safety. SEC Filing |
| ● | GBT<br> sold Avant! AI ™ to Trend Innovation Holdings Inc. Press Release Tren |
“We slightly improved our position in all areas of operation including cash, marketing, and profits, but ultimately still have a lot of work to do. We continue to believe that expanding and developing our own Technology IP Portfolio will lead to results. The successful placement of Avant! AI™ and Apollo this month is proof that there is a market for our current technology and that the strategy of developing an IP Portfolio and placement to increase shareholder value is working”, says Mansour Khatib, CEO of GBT.
With regard to Apollo, StevenLake, CEO of EVIE Autonomous Ltd, commented: “We are always seeking relevant technologies that can support our core mission, I appreciate the value Apollo adds to EVIE as a backup to our core AI and radar control sensors and understanding of our vehicle’s location.”
About US
GBT Technologies, Inc. (OTC PINK: GTCH) (“GBT”) (http://gbtti.com) is a development stage company which considers itself a native of Internet of Things (IoT), Artificial Intelligence (AI) and Enabled Mobile Technology Platforms used to increase IC performance. GBT has assembled a team with extensive technology ability and is building an intellectual property portfolio consisting of many patents. GBT’s mission, to license technology and IP to synergetic partners in the areas of hardware and software. Once commercialized, it is GBT’s goal to have a suite of products including smart microchips, AI, encryption, Blockchain, IC design, mobile security applications, database management protocols, with tracking and supporting cloud software (without the need for GPS). GBT envisions this system as a creation of a global mesh network using advanced nodes and super performing new generation IC technology. The core of the system will be its advanced microchip technology; technology that can be installed on any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between all enabled devices. Thus, providing shared processing, advanced mobile database management and sharing while using these enhanced mobile features as an alternative to traditional carrier services.
Forward-Looking Statements
Certain statements contained in this press release may constitute “forward-looking statements”. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not directly relate to any historical or current fact. Actual results may differ materially from those indicated by such forward-looking statements because of various important factors as disclosed in our filings with the Securities and Exchange Commission located at their website (http://www.sec.gov). In addition to these factors, actual future performance, outcomes, and results may differ materially because of more general factors including (without limitation) general industry and market conditions and growth rates, economic conditions, governmental and public policy changes, the Company’s ability to raise capital on acceptable terms, if at all, the Company’s successful development of its products and the integration into its existing products and the commercial acceptance of the Company’s products. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release and these views could change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of the press release.
Contact:
Mansour Khatib, CEO
press@gopherprotocol.com