Wall Street Researcher
GLOBAL TECH INDUSTRIES GROUP INC
SHORT SQUEEZE ALERT
These shares have exploded to the upside advancing from $0.65 cents on Sept 20th to $8.97 on Oct 3 2022. Trading over 53 million shares over the past 8 days
We have called your attention to this company several times over the past 12 months . We are told that there is a massive short position of close to 100 million shares and that the recent stock market sell off has forced liquidation of both long and short positions by several hedge funds subsequently the shares of GTII soared.
The company has no revenues nor has it had revenues for some time – Recent 10Q . Losses are being funded through stock sales .This is a short squeeze and could go higher but with some risk
With close to $1 – $1.8 bill in market cap these shares are for speculative traders only .
Global Tech Industries Group, Inc. Announces Share Exchange Agreement with Wildfire Media Corp.
New York, NY, Sept. 14, 2022 (GLOBE NEWSWIRE) — Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com , a Nevada corporation, announced today that it has entered into a Share Exchange Agreement with Wildfire Media Corp. (“Wildfire Media”) and the shareholders of Wildfire Media Corp. (collectively, the “Wildfire Shareholders”). Wildfire Media is a legal marketing company in the business of supporting law firms with client acquisition research, data-driven marketing, media planning and analysis and client retention services.
Under the terms of the agreement GTII will, at the closing, issue to the Wildfire Shareholders 100 million restricted common shares (the “Acquisition Shares”) in exchange for all outstanding shares of Wildfire Media. The closing of the transaction is subject to customary conditions to closing, as well as certain conditions specific to the transaction, including, without limitation, Wildfire Media providing GTII with audited financial statements and GTII concluding a due diligence review that is satisfactory in all respects to GTII.
The Wildfire Shareholders have a post-closing “earn-out” opportunity for 100 million additional restricted GTII common shares (the “Earn-Out Shares”) if Wildfire Media achieves $25 million in gross revenue, as well as $85 million in receivables.
The Acquisition Shares and the Earn-Out Shares shall be subject to a lock-up agreement pursuant to which the Wildfire Shareholders agree not to sell or transfer the shares until the expiration of the 1-year buy-back period, except as may be otherwise provided in the lock-up agreement.
GTII intends to file a Current Report on Form 8-K regarding the Share Exchange Agreement, which will contain further details regarding the agreement.
David Reichman, Chairman and CEO of GTII stated , “When it comes to the potential impact to GTII and its shareholders of this long anticipated and negotiated agreement and partnership with Wildfire, I will say that this may be the most significant in the history of this company. We have been careful, we have been diligent, and we believe that this arrangement brings us closer than ever before to our long-stated goal of up listing to a national exchange, acquiring operations that bring substantial revenue to our bottom line, and delivering value to our shareholders at an entirely new level”.
Ar i Kresch, Chief Executive Officer, and Founder of Wildfire Media stated , We are excited to be joining the GTII family of progressive companies that share our vision of making quality legal services more efficient and accessible to the public. It is our opinion that the legal industry has been dominated by law firms’ self-interest for over 100 years, rather than deploying tried and tested business models used in other regulated industries such as medicine and dentistry. It’s been an exciting couple of months working with David and his team as we look forward to being an integral part of the team that brings our vision of a national Legal Support Organization (LSO) to life.
About Wildfire Media Corp. :
Wildfire Media licenses the 1-800-LAW-FIRM and other brands to a national network of law firms committed to protecting the rights of clients in areas as diverse as consumer protection, environmental hazards, civil rights, and criminal defense among other areas. Founded in 1996, Wildfire Media provides performance-based marketing and technology solutions that enable law firms to concentrate on what they do best. Wildfire Media has established a Legal Support Organization (LSO) so that law firms are equipped to combine advances in the latest technologies along with best operational practices, both provided by our LSO.
A bout Global Tech Industries Group, Inc.:
GTII is a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies. Visit GTII here https://gtii-us.com/ .
Global Tech Industries Group, Inc. provides latest information regarding digital dividend distribution
New York, NY, Aug. 08, 2022 (GLOBE NEWSWIRE) — Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com , a Nevada corporation announced that on July 28, 2022 FINRA declined to effectuate the Company’s request to pay a digital dividend to its shareholders. FINRA determined that the Company action was deficient because the Depository Trust & Clearing Corporation (DTCC) is unable to process the digital dividend distribution to GTII shareholders holding shares in CEDE & Co, which is a substantial percentage of its shareholders.
To reward its loyal shareholder base and keep its commitment to distributing a dividend, the Company is now in active negotiations with a digital securities firm, which could afford it the ability to allot digital dividends and fractional shares to all GTII shareholders. In the meantime, the Company urges its shareholders to continue to send in their request forms to the corporate transfer agent, Liberty Stock Transfer, Inc. (“Liberty”), in anticipation of any next steps. The forms and instructions were released in the Company’s press, are on the Company’s website, www.gtii-us.com , and were mailed to all shareholders.
David Reichman, Chairman & CEO, stated , “Needless to say we are disappointed in FINRA’s decision, but we will continue to actively pursue other methods and partnerships to ensure that our shareholders are rewarded for their loyalty and their patience”.
A bout Global Tech Industries Group, Inc.: GTII is a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies. Visit GTII here https://gtii-us.com/ .
Safe Harbor Forward-Looking Statements :
This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and acquire businesses and assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
Neither PSN or WSR nor its owners, members, officers, directors, partners, consultants, nor anyone involved in the publication of this website, is not a registered investment adviser or broker-dealer or associated person with a registered investment adviser or broker-dealer and none of the foregoing make any recommendation that the purchase or sale of securities of any company profiled in the PSN or WSR website is suitable or advisable for any person or that an investment or transaction in such securities will be profitable. The information contained in the PSN or WSR website is not intended to be, and shall not constitute, an offer to sell nor the solicitation of any offer to buy any security. The information presented in the PSN or WSR website is provided for informational purposes only and is not to be treated as advice or a recommendation to make any specific investment. Please consult with an independent investment adviser and qualified investment professional before making an investment decision.. All Reports are reviewed for accuracy and concur that any conclusions made are reasonable expectations. The term Buy List referring to a Watch List and not a recommendation to buy . Each individual has their own risk level and should know their risk level and act accordingly .