Item 7.01 Regulation FD Disclosure.
Global Boatworks Holdings, Inc. ("the Company") announced that its operating
subsidiary, R3 Score Technologies, Inc. ("R3 Score"), has entered into a
two-year pilot with Baltimore Development Corporation ("BDC") to use R3 Score's
technology for applicants with less than Prime credit score. BDC serves as the
economic development arm for the City of Baltimore and its mission is to grow
the city's economy in an inclusive manner by retaining, expanding, and
attracting businesses, and promoting investment, thereby increasing career
opportunities for residents. BDC has a strong commitment to equitable economic
development with a focus on supporting small businesses throughout Baltimore
City, including providing loans.
In this pilot, BDC has signed on as a business customer of R3 Score and will use
R3 Score's technology for a portion of the applications received that they would
like to continue reviewing for a small business loan, but the business operator
may fall below the preferred traditional credit score. BDC is committed to a
more equitable economy by supporting minority and women-owned businesses that
may have been negatively impacted by institutional racism and/or generational
poverty. BDC's commitment includes implementing developed strategies and
bringing R3 Score on board to intentionally create an inclusive and equitable
Baltimore economy whereby a traditional credit score and report may no longer be
an instant barrier.
A copy of the press release is attached as Exhibit 99.1 to this Current Report
on Form 8-K and is incorporated herein by reference.
The information in this Current Report on Form 8-K, including the information
contained in Exhibit 99.1, is being furnished to the Securities and Exchange
Commission, and shall not be deemed to be "filed" for the purposes of Section 18
of the Securities Exchange Act of 1934 or otherwise subject to the liabilities
of that section, and shall not be deemed to be incorporated by reference into
any filing under the Securities Act of 1933 or the Securities Exchange Act of
1934, except as shall be expressly set forth by a specific reference in such
filing. The furnishing of the information pursuant to this Item 7.01, including
Exhibit 99.1 furnished herewith, is not intended to, and does not, constitute a
determination or admission by the Company (i) that the furnishing of such
information is required by Regulation FD, (ii) that such furnished information
is material or complete, or (iii) that investors should consider such
information before making an investment decision with respect to any security of
the Company. The information furnished pursuant to this Item 7.01, including
Exhibit 99.1 furnished herewith, contains "forward-looking statements" within
the meaning of the safe harbor provisions of the federal securities laws.
Item 9.01 Financial Statements and Exhibits.
The following exhibits are furnished as part of this Current Report on Form 8-K.
Exhibit Description
Number
99.01 Press Release issued by Global Boatworks Holdings, Inc.
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