GBT is Approved for System Award Management (SAM) registration

Rhea-AI Summary

GBT Technologies Inc. (OTC PINK: GTCH) announced its activation notice for System for Award Management (SAM) registration, enabling it to conduct business with US government contractors. This registration marks a pivotal step for GBT in pursuing government contracts across various sectors, including military and healthcare. However, the company faces challenges ahead, including the need for adequate capital and potential partnerships for successful implementation. The company aims to leverage its expertise in IoT and AI to offer advanced technological solutions that can enhance government functionalities.

Positive

• Active SAM registration received, allowing business with US government.
• Opportunities to bid for government contracts in military, security, and health sectors.
• Strategic goal to enhance capabilities in telemedicine and emergency response.

Negative

• Success in pursuing government contracts is uncertain.
• Need for adequate capital to support business efforts.
• Dependence on partnerships for product manufacturing and distribution.

Now eligible to conduct business with the US Government.

SAN DIEGO, June 10, 2021 (GLOBE NEWSWIRE) -- GBT Technologies Inc. (OTC PINK: GTCH) ("GBT”, or the “Company”) received an activation noticed for its System for Award Management (SAM) registration #832011626/91FW3. The active status makes GBT eligible to conduct business with the US government contractors and/or sub-contractors. A SAM registration is required for entities to conduct business with federal government agencies, contractors/subcontractors, local cities or to receive federal funds. The SAM (www.sam.gov) is a central registration system for government contractors and suppliers. GBT has filed an application with GSA (General Services Administration) to get approved to sell to the United States Government and SAM is one of the stages required. To become eligible to bid on a GSA schedule, it is required to complete several important steps, among them are registering in the government's SAM (System for Award Management). To remain eligible to do business with the federal government, an entity must renew its registration in SAM every year. GBT plans to continue exploring and pursuing all government business opportunities, offering its advanced technologies for a variety of domains, among them are military, security, tracking, IoT, communication and health. More information can be found on GSA web site at: Home (gsa.gov)

“We are glad to announce about receiving an active registration notice from SAM which means an approval to conduct business with the US government agencies, contractors and suppliers. GBT has extensive knowledge and experience in advanced technological arenas, among them IoT, tracking, health and Artificial Intelligence. We believe that our technologies can be very appealing for government contracts offering efficient solutions for military, global emergency response, national security, and intelligent image/video processing. We believe our products are situated to provide global, intelligent telemedicine capabilities around the globe through the provision of health services to the most remote locations in the world. We are proud to be approved in the SAM system and will continue pursuing GSA approval, with the goal of offering essential technologies within government business”, said Mansour Khatib, the CEO of GBT Technologies Inc.

There is no guarantee that the Company will be successful in implementing this system. In order to successfully implement this system, the Company will need to raise adequate capital to support its efforts and, if successfully obtained, developed and granted actual specific approval, the Company would need to enter into a strategic relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company will be successful in any or all of these critical steps.

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 expertise and is building an intellectual property portfolio consisting of many patents. GBT’s mission, to license the 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 in any mobile or fixed device worldwide. GBT’s vision is to produce this system as a low cost, secure, private-mesh-network between any and 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 as a result 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

FAQ

What is GTCH's recent SAM registration status?

GBT Technologies has received an active SAM registration, allowing it to conduct business with US government contractors.

What business opportunities does GTCH plan to explore with government?

GTCH aims to pursue contracts related to military, security, tracking, IoT, and healthcare.

What challenges does GTCH face in implementing its government business strategy?

GTCH needs adequate capital and must establish strategic partnerships for manufacturing and distribution.

When was GTCH's SAM registration announced?

The SAM registration was announced on June 10, 2021.