Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

GLOBAL TECH INDUSTRIES GROUP, INC.

(GTII)
  Report
SummaryQuotesChartsNewsCalendarCompanyFinancials 
SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector news

GLOBAL TECH INDUSTRIES GROUP, INC. SIGNS LETTER OF INTENT WITH ALT 5 SIGMA, INC. TO EXPLORE BUSINESS COMBINATION

04/10/2021 | 05:05pm EDT

New York, NY, April 10, 2021 (GLOBE NEWSWIRE) -- (GTII:OTCQB) Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation announced on April 9, 2021, that the Company had engaged Alt5 Sigma, Inc. to provide the platform for creating NFTs for its upcoming art assets, as well as future assets requiring tokenization. During their discussions, both companies recognized that a unique synergy may exist between the two companies that warranted further exploration. Both sides believe that a corporate structure combining GTII and Alt5 Sigma could be extremely and mutually beneficial to both companies’ shareholders. As such, the parties have entered into a non-binding Letter of Intent to explore the options for such a business combination, and attempt to arrive at an agreement that is beneficial to both companies and their shareholders.

David Reichman, CEO of GTII, commented “We are moving quickly, but with purpose and intent, as we realize that the potential this kind of partnership represents is unique for GTII, utilizing Alt 5’s platform and Ron Cavalier’s expertise in the NFT world of digital art to further GTII’s business plan of introducing innovative technologies as well as realize value for our many long-term and loyal shareholders.”

Andre Beauchesne, Chairman of Alt5, said “In our discussions with GTII regarding their NFT initiative and other long term strategic plans, it became clear to us that a unique synergy existed, and we agreed that some type of business combination between two companies could create opportunities for management and shareholders of both companies to benefit and accelerate the development of both companies’ long range goals. We look forward to working with GTII’s management to execute an agreement that will be mutually rewarding and continue to create sustainable value for all stakeholders.”

About Global Tech Industries Group, Inc.: GTII, a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies.

Please follow our Company at: www.otcmarkets.com/stock/GTII

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.

Blaine Riley – br@intlmonetary.com
International Monetary
620 Newport Center Drive, #1100
Newport Beach, CA 92660
949.200.4601


Primary Logo


© GlobeNewswire 2021
All news about GLOBAL TECH INDUSTRIES GROUP, INC.
05/05Global tech industries group, inc. expands updates regarding warrant distribu..
GL
05/04Global Tech Industries Group, Inc. Announces Update Regarding Tokenization an..
GL
05/03GLOBAL TECH INDUSTRIES GROUP, INC. EXECUTES NON-BINDING LETTER OF INTENT TO E..
GL
04/27Global tech industries group, inc. updates website to reflect emphasis on dig..
GL
04/23Global tech industries group, inc. announces the purchase of an original pica..
GL
04/21Global tech industries group, inc. clarifies detail regarding warrants held i..
GL
04/18Global tech industries group, inc. clarifies warrant distribution
GL
04/15Update global tech industries group, inc. updates warrant distribution inform..
GL
04/14Global tech industries group, inc. updates warrant distribution information
GL
04/13GLOBAL TECH INDUSTRIES GROUP, INC.  : Entry into a Material Definitive Agreement..
AQ
More news
Financials (USD)
Sales 2020 0,01  - -
Net income 2020 -2,78 M - -
Net Debt 2020 1,02 M - -
P/E ratio 2020 -7,03x
Yield 2020 -
Capitalization 476 M 476 M -
EV / Sales 2019 -
EV / Sales 2020 2 479 451 765x
Nbr of Employees 2
Free-Float 61,5%
Chart GLOBAL TECH INDUSTRIES GROUP, INC.
Duration : Period :
Global Tech Industries Group, Inc. Technical Analysis Chart | MarketScreener
Full-screen chart
Income Statement Evolution
Managers and Directors
NameTitle
David I. Reichman Chairman, CEO, CFO & Principal Accounting Officer
Kathy M. Griffin President & Director
Michael Valle Independent Director
Frank Benintendo Vice Chairman & Secretary
Donald Harold Gilbert Director
Sector and Competitors
1st jan.Capitalization (M$)
GLOBAL TECH INDUSTRIES GROUP, INC.2,059.57%476
SCHLUMBERGER LIMITED46.08%44 593
HALLIBURTON COMPANY21.43%20 419
BAKER HUGHES COMPANY18.13%19 060
NOV INC.25.64%6 739
DIALOG GROUP-11.88%4 171