Global Technologies Ltd. OTCMKTS:GTLL) was up 89% on Wednesday after the company announced that it had signed a Letter of Intent(LOI) to purchase Tersus Power Inc.
Trading Data
On Wednesday, GTLL stock soared 89.50% to $0.0036 with more than 879.25 million shares, compared to its average volume of 69.28 million shares. The stock has moved within a range of $0.0023 – 0.0039 after opening trade at $0.0024.
Global Technologies, Ltd Enters Letter of Intent to Acquire Tersus Power
The company, through its subsidiaries, engages in online hemp and CBD-related IP acquisition inn then security and safety space and also acts as a portal for businesses looking to access eCommerce, live shopping, logistics, and distribution.
Tersus Power will be responsible for designing an adaptable, affordable, and safe hydrogen fuelling station enabling quick deployment and development of hydrogen fuelling system at the same time reducing investors’ risk.
The modular assembled fuelling stations of Tersus Power will be manufactured at scale and be ready for delivery to sites to meet the increased hydrogen fuel demand. Tersus Power reported revenue of more than $2 million in 2021 by offering engineering service contacts in the sector. CEO of Tersus Power, Michael Rosen, said they are delighted to go public in the alternative energy industry. In the coming weeks, investors should watch GTLL.
Key Quote
Michael Rosen, CEO and president of Tersus Power, stated, “We are pleased to be going public at this exciting time in the alternative energy sector. Green hydrogen is a major impact player in the world’s drive to combat climate change. Tersus Power is at the forefront of this multibillion-dollar movement with its modular hydrogen fueling station design and scaling ability to meet a global demand for green energy.”
Technical Data
GTLL stock is trading above the 20-Day and 50-Day Moving averages of $0.0025 and $0.0028 respectively. However, the stock is trading below the 200-Day moving average of $0.0048. The stock is up 33% in the past month.
