Global Tech Industries Inc (OTCMKTS: GTII) has filed a lawsuit against Alpine Securities for spoofing. The lawsuit claims that multiple parties were selling a significant number of shares at artificially depressed prices, which is attributed to the illegal behavior of spoofing.

According to David Reichman, CEO of GTII, the lawsuit is a significant step in the company’s efforts to protect itself and its shareholders from market manipulation. The company is represented in the case by the Christian Levine Law Group and Warshaw Burstein, LLP, two law firms that specialize in stock fraud litigation.

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The spoofing of shares refers to a fraudulent trading practice in which traders place buy or sell orders for a security, intending to cancel them before they are executed. This behavior creates a false impression of demand, causing the market price to move in a specific direction, which benefits the trader’s position. Spoofing is a violation of federal securities laws.

The lawsuit alleges that the financial firms named in the complaint engaged in illegal behavior that allowed them to manipulate the market and benefit from GTII’s artificially depressed share prices. GTII is seeking unspecified damages and injunctive relief to prevent further market manipulation.

Wes Christian, managing partner of the Christian Levine Law Group, stated that the lawsuit is yet another example of illegal market manipulation by the defendants. He emphasized the law firm’s commitment to protecting shareholders and holding financial firms accountable for their illegal behavior.

The lawsuit is an important step for GTII in its ongoing efforts to protect its shareholders and business from illegal market activities. It remains to be seen how the lawsuit will unfold, but GTII is committed to pursuing legal action against those who engage in market manipulation that harms the company and its shareholders.

Alpine Securities is in significant trouble and cannot pay the $2 million fine imposed on them by the SEC. GTII has the highest concentrated short position in Alpine’s books, which is significant. GTII needs to fight against this illegal behavior, and a lawsuit is one of the ways to do so.

Taking a step back and understanding the entire Alpine situation as a whole, it is clear that they are in trouble. The current market conditions, where the fluidity of credit is not as strong, can significantly affect borrower rates. When borrowing rates go through the roof, as was the case with GTII, it does not make sense to short-sell. People had to cover, and the stock went nearly double all-time highs to $9.

GTII has many catalysts, and the first one will be Upstream, which will open multiple avenues to throw a curveball at short sellers with special coupons and dividends. The 1-800 Law Firm deal is another catalyst that GTII is excited about. GTII expects to receive $85 million in receivables on the books, which will improve GTII’s fundamentals exponentially. This improvement in fundamentals could make the current resistance level of $2 the new floor.

Restricted dividends are another way GTII can throw a curveball at short sellers. Clean Vision’s success with restricted dividends is an example that worked in the recent past. The proof is there that it can work and is worth trying. If it is another curveball that can throw off a short seller, that’s perfect. It can’t hurt to try, especially if it is restricted, which means it will not dilute the stock for six to 12 months.

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GTII is in an exciting time, where banks are collapsing, and the market is getting rocked. Everyone is very tense, and there is a lot of pressure. Things are not as smooth as they were a year or two ago, so this could be a really good time for GTII. Many things are happening right now, including the 1-800 deal coming in two or three weeks, the Alpine update from the SEC in two to three weeks, the special dividends, and the lawsuit against Alpine.

When looking at the chart, GTII is testing a key level again. The $2 level has been struggling to hold above this range, but it is about to be retested again.

GTII Daily Chart

In conclusion, GTII has dropped a hammer on Alpine Securities by filing a lawsuit against them for spoofing. GTII is fighting back against illegal behavior and has many catalysts to help them. The current market conditions are not smooth, but GTII is in an excellent position to take advantage of this situation. With the lawsuit, the 1-800 deal, the Alpine update, and the special dividends, GTII is well-positioned to move forward.

MicroCapDaily sees GTII as one of the most exciting stories to follow. We will keep an eye on this one and push out updates as they unfold.

Disclosure: We have not been compensated for this article/video. MicroCap Daily is not an investment advisor; this article/video does not provide investment advice. Always do your research, make your own investment decisions, or consult with your nearest financial advisor. This article/video is not a solicitation or recommendation to buy, sell, or hold securities. This article/video is our opinion, is meant for informational and educational purposes only, and does not provide investment advice. Past performance is not indicative of future performance.

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MMTec, Inc. (NASDAQ: MTC) ended the day at $2.0700 with a gain of $0.5800 (+38.93%). The stock prices fluctuated between $1.4000 – $2.5299, with more than 2.98M shares exchanging hands.

So why did MTC surge today ?

The failure of Silicon Valley Bank led to a sell-off in equities and a shift to safe-haven assets, such as US Treasuries and gold. Markets have calmed down somewhat, and the worst of the equity sell-off seems to be over. However, the market anticipates that the markets will be somewhat uneasy until a better understanding of inflation is reached and what the Federal Reserve will do next week.

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Despite most investors currently avoiding the banking sector, Wall Street sees potential opportunities, particularly in regional banks. The chaos in the market has created opportunities in the industry and several banking stocks are being punished just for being a banking stock. The collapse of Silicon Valley Bank was due to its specialisation in venture-capital financing, which made it vulnerable to the higher interest rate regime of the past 12 months.

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Therfore, today’s gains in MTC seems to be more a sympathy bounce considering the overall banking sector. Earlier in March, MMTEC, Inc. (Nasdaq: MTC) declared that it will relocate its operations from Beijing to the Hong Kong Special Administrative Region, effective March 6, 2023. The Company’s subsidiary, MM Future Technology Limited, which is a Hong Kong incorporated limited company, will assume all operations previously conducted by its subsidiary, Gujia (Beijing) Technology Co., Ltd. However, Gujia will continue to carry out specific technical research and development functions. Further, the Company, through its subsidiary HC Securities (HK) Limited, and other entities, will continue to invest its human resources in asset management and securities underwriting, and other related businesses, aiming to attract global funds to invest in the Chinese market and support China’s economic growth. The Company’s new operations headquarters is located at Room 2302, 23rd Floor, FWD Financial Center, 308 Des Voeux Road Central, Sheung Wan, Hong Kong.

We will be updating on MTC when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with MTC.

Disclosure: We have no position in MTC and have not been compensated for this article.

Global Developments Holdings Inc (OTCMKTS: GDVM) share has been on a steady rise for the past six and a half months. The company’s performance in 2023 shows that the share was growing, then it saw a sudden surge, only to crash back down. However, the company’s 6M chart clearly indicates that the share has been rising steadily, and both rapid surges followed by sudden crashes — one in November/December 2022 and another in February 2023 — were only brief pumps. The stock’s performance overall still indicates that GDVM is seeing a strong, steady rise, which was not affected by these instances of strong volatility.

The GDVM price was fairly stable for the first eight months of 2022, slightly fluctuating around $0.0040. However, at the end of August 2022, the price started to grow. The growth was steady, healthy, and the price kept going up, almost completely uninterrupted until November 3rd. At the time, it reached $0.0527, but after reaching this level, it saw a slight correction to a support at $0.040. After only about a week at this level, a rapid surge took it all the way up to $0.1109. The surge started around November 16th, and it reached its peak by December 6th.

After that, a rapid correction made the price crash back down to $0.056 later on the same day. After an attempt at recovery, the price dropped again on December 14th, this time sinking to $0.038. From there on, the price managed to return back to its steady growth, which actually lasted until late January 2023. At the time, it reached $0.066, when another surge took place, starting on January 27th.

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In the following month, the price climbed up to $0.1359, reaching this height on February 23rd, which was once again followed by a rapid crash back to $0.0726. What followed was a few weeks of stability, which led the price to finally grow back up again, to $0.0862, on March 9th. This was followed by another mild correction to $0.769, which is where the GDVM price sits right now at the time of writing.

Global Developments Holdings, Inc (OTCMKTS: GDVM) price behavior has been quite significant over the last six months. However, it is also worth noting that most of these developments — the beginning of the six-month steady growth, as well as rapid price surges in between — took place when some major developments for the company happened. For example, the price started climbing up in August after reports that it reduced OS by 525 million, with rumors that significant moves are being made behind the scenes. At the time, it was rumored that the company was planning a reverse merger, which is exactly what it was doing, as it was discovered later on.

Following that, reports in November emerged, noting that the reverse merger is heating up, especially as the new CEO was affected by massive share reduction. The merger was with a company VeeMost, and by early December 2022, it achieved its 4th advanced specialization. At the time, reports were also praising GDVM as its stock price continued to skyrocket. The stock has been under heavy accumulation from the moment Mr. Melvin Ejiogu, an executive who also acts as President of VeeMost Technologies, became the controlling shareholder. He said:

$GDVM majority control acquired and all outstanding debt purchased. I also purchased 12% of outstanding shares and returned them to the treasury. No dilution will occur. I’ll be sharing updates soon with everyone on our new journey.

His new dilution policy affected a massive share reduction, as mentioned, and trapped the market makers, who were seriously short. The reverse merger stocks have proven that they can be much more explosive than biotechs, assuming that the incoming company has real value. By mid-February, Global Developments became the highest overall rated company in the Shell Companies industry. It had an overall score of 66 while and an average score of 43. This means that, on average, the stock in this industry tends to score higher than 43% of the stock market. However, according to Ejiogu’s tweet published on February 17th, he was working on getting the shell status removed from GDVM.

$GDVM – We are pleased to announce that we have been approved as a vendor by a global telecommunications provider, and we are working to get the shell status removed from $GDVM. Further updates coming.

— Melvin Ejiogu (@MelvinEjiogu) February 17, 2023

Global Developments Holdings, Inc (OTCMKTS: GDVM) is a company that provides expert consulting for businesses. It is a principal investment firm that specializes in acquisitions and early-stage financing of emerging growth companies. It describes its service as fast and reliable, and it can help whether its clients need help with finances, advice on theoretical matters, or assistance with practical tasks.

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It has a highly-qualified team that is happy to assist with any needs in both private and commercial spheres. The company is based in Delaware, and it was incorporated on December 9th, 2004, as Autobahn International, Inc. However, in 2016, it rebranded to Global Developments Inc and then once more to Global Developments Holdings, Inc, on September 20th, 2018.

For the time being, the company’s stock is still growing steadily after starting to increase in August of last year. The past price surges, followed by sharp corrections, are fairly normal behavior. Prices tend to surge after beneficial developments, and a sharp rise is always followed by a sharp correction. The positive thing is that the price continues to increase after the correction is over, and the chart above clearly shows that the company continues to thrive under the new leadership. We will be updating on GDVM when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with GDVM.

Disclosure: We have no position in GDVM and have not been compensated for this article.

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