R3 Score Technologies, Inc. completed the acquisition of Global Boatworks Holdings, Inc. for approximately $120 million in a reverse merger transaction.

R3 Score Technologies, Inc. entered into a share exchange agreement to acquire Global Boatworks Holdings, Inc. (OTCPK:GBBT) for approximately $100 million in a reverse merger transaction on September 3, 2020. Global Boatworks will issue 4.303657 shares for each one share held by sellers in R3 Score. As part of the agreement, Global Boatworks will issue up to 103.31 million shares of common stock to R3 Score. The transaction is subject to all officers and members of the Board of Directors of Boatworks shall have provided an undated resignation and shall have appointed the designees of the Sellers as members of the Board of Directors. The initial closing pursuant to which Global Boatworks will acquire 94% of R3 Score is expected to occur no later than September 10, 2020 with subsequent closings for up to 100% of R3 Score to occur no later than September 30, 2020. Gopal Burgher of BurgherGray LLP acted as legal advisor to R3 Score Technologies. R3 Score Technologies, Inc. completed the acquisition of Global Boatworks Holdings, Inc. (OTCPK:GBBT) for approximately $120 million in a reverse merger transaction on September 23, 2020. Pursuant to the agreement, Global Boatworks acquired over 94% of the issued and outstanding shares of common stock of R3 Score with the ability to increase to 100% of the issued and outstanding shares of common stock of R3 Score in exchange for 147 million shares of Global Boatworks's common stock. R3 Score Technologies, its shareholders, team members, current and former note holders, and key partners now own over 90% of Global Boatworks shares. The resulting issuer will change its name to R3 Score Technologies, Inc., and apply for a change in trading symbol. Global Boatworks Executives and Board of Director members have resigned and will be replaced by officers and directors of R3 Score. Laurin Hodge Leonard has been appointed Chief Executive Officer and Director of R3 Score. The Board and Management has more individuals coming from R3 Score and the headquarters was moved to the R3 Score headquarters.