Winning Brands Corporation (OTCMKTS:WNBD) takes Another Forward Step In Its Intended Acquisition Gesturetek Systems’ Assets
Winning Brands Corporation (OTCMKTS:WNBD) takes yet another step towards completing its acquisition of GestureTek Systems’ assets and international business of immersive gesture control technology. It can now reveal the name of the acquisition target and talk about future plans for GestureTek’s technologies with shareholders of Winning Brands.
Market Stats
On Thursday, WNBD stock ended flat at $0.0009 with 36.15 million shares, compared to its average volume of 29.18 million shares. The stock moved within a range of $0.0007 – 0.0009 after opening trading at $0.0009.
Winning Brands Announces Intention to Acquire GestureTek Systems Assets and Business Pending Court Approval as new Tech Division
Technologies of GestureTek leads the innovation in touchless immersive control of computer systems and display systems. It has a large existing installed commercial customer base worldwide. The global interest in applications for touchless interface concepts is already high, with demand growing due to health & safety concerns during the COVID era.
Winning Brands is uniquely qualified to deal with the complexity and opportunities associated with the acquisition. Integration of mass customization of digital display experiences in daily life is only expected to grow in future. As of now, court approval is pending for the transaction, but when it goes through, Winning Brands will acquire GestureTek’s rights and select assets.
Management and advisors of Winning Brands have strategized what needs to be done for restoring momentum to GestureTek’s technologies in its present markets. They are also looking to leverage the conceptual association that exists between GestureTek technologies and metaverse platform applications, for additional future product development.
Key Quote
Winning Brands CEO, Eric Lehner, comments – “There is no team as well prepared as our Action Group to refresh and stimulate a resurgence of GestureTek technologies. Our Action Group consists of select representatives of personnel currently and previously associated with GestureTek, new hand-picked advisors and Winning Brands’ colleagues. We thank the vendors in this transaction for helping to preserve and transfer GestureTek’s technology and assets during this transitional period so that Winning Brands and the Action Group can swing into action following Court approval. There is far too much in this business vision to describe to shareholders than can be accommodated within a single news release. The purpose of this announcement is to confirm the status and progress of this transaction to Winning Brands’ shareholders and the scope and scale of the opportunities associated with this acquisition growth strategy for Winning Brands’ future.”
Traders Corner
WNBD stock is trading above the 20-Day and 50-Day Moving averages of $0.0008 and $0.0007 respectively. However, the stock is trading below the 200-Day moving average of $0.0010.
