Global Tech Industries Group, Inc. Updates Shareholders on Exercised Warrants Progress
New York, NY, Nov. 23, 2022 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today that, as of November 23, 2022, 1,189,011 Warrants have been exercised, providing $3,269,780.25 of funding to the Company. Management is also in the process of completing a post-effective amendment to the registration statement of Form S-1/A in order to update the financial statements, and other information.
David Reichman, Chairman & CEO, stated, “Management has been focused, since the 10Q was filed on November 14th, on finalizing the S/1 document, getting it filed, and into the public’s hands.”
The Company also has been in contact with management at 1-800-LAW-FIRM and have ascertained that the prerequisite PCAOB audit is in process and appears to be moving ahead and on time.
About GTII: 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/.
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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.
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Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011