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Saturday, December 3, 2022

Global Tech Industries Group Inc (OTCMKTS: GTII) Gearing Up for a Big Week as Co Keeps Original Exercise Price on Warrants & Short Covering Continues

Global Tech Industries Group Inc (OTCMKTS: GTII) is gearing up for a big week ahead after the Company announced on Sunday evening it has decided to keep the original exercise price of $2.75 for the warrants. Such decision was as a change to the exercise price would require an amendment to the S-1, which could cause the shares common stock issued pursuant to a new exercise price to not be registered at the time of issuance. Shareholders are eligible to exercise their Warrants at the initial exercise price, and receive shares of common stock registered for resale in the S-1 by contacting Liberty Stock Transfer, the company’s transfer agent. 

This sets the stage for another big week ahead for GTII which has exploded off its base well under $1 to highs well over $5 per share as the short covering rally continues. Since we first covered GTII in August when the stock was still well below the $1-mark GTII has exploded northbound currently just under $3 per share.  GTII is quickly becoming known as the OTC version of Gamestop or AMC with 1 short that is short a massive 100 million shares with little chance to cover and is now in serious trouble as GII continues to rocket up the charts on running 74% on Friday on $45 million in dollar volume. 


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Global Tech Industries Group Inc (OTCMKTS: GTII) sets the stage and develops the assets to stimulate innovation and growth in emerging businesses on a global basis. The company works across various and diverse industry sectors attempting to find potential partners and assisting them in animating their business plans. Although Global Tech’s staff is limited, it continues to monitor new developments and any emerging technologies that it deems in line with its stated mission as an early-stage company, of acquiring new and innovative technologies in diverse industries. With the acquisition of BAT, Global Tech acquired fifteen (15) intellectual properties pertaining to the construction of the mobile configuration and operation of the glyd-arc medical waste destruction unit, as well as an enhanced configuration and novel method for coal gasification. There is currently no use or activity involving the intellectual properties of the Company, and accordingly, there is no recorded value assigned to these assets. GTII is in the process of animating a digital platform, formed together with Alt5 Sigma, for the purpose of acquiring fine art and other collectibles that will be tokenized and eventually issued to its shareholders as Tokenized value dividends. This undertaking signifies a new and revolutionary method for offering value to GTII shareholders and as a way of participating in the shared ownership of fine art and collectibles using Non-fungible tokens. 

Global Tech Industries Group, Inc. is a Nevada corporation which has been operating under several different names since 1980. estern Exploration, Inc., a Nevada corporation, was formed on July 24, 1980. In 1990, Western Exploration, Inc. changed its name to Nugget Exploration, Inc. On November 10, 1999, a wholly owned subsidiary of Nugget Exploration, Inc., Nugget Holdings Corporation, merged with and into GoHealthMD, Inc., a Delaware corporation. Shortly thereafter, Nugget Exploration, Inc. changed its name to GoHealthMD, Inc., a Nevada corporation. n August 18, 2004, GoHealthMD, Inc., the Nevada Corporation, changed its name to Tree Top Industries, Inc. On July 7, 2017, Tree Top Industries, Inc. changed its name to Global Tech Industries Group, Inc. TTII Strategic Acquisitions & Equity Group, Inc., a Delaware corporation, G T International Group, Inc. a Wyoming corporation and Global Tech Health, Inc. a Nevada corporation, all were formed by GTII in the anticipation of technologies, products, or services being acquired. Not all subsidiaries have current operations. 

Beginning in April of 2021, the Company has been working towards tokenizing its fine art collection. If our prospectus is approved, the Company would mint 1,000,000,000 tokens of the GFT Token, with 26,000,000 of them being registered for distribution. Once minted, each shareholder, as of the to be determined record date, would be entitled to receive one GFT Token for every 10 shares of GTII Common Stock beneficially held in their name. 

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GTII

Earlier this month GTII said its board of directors approved management’s request to lower the original strike price of the Warrants, which were distributed last year to a new strike price of $2.00. While the original strike price of $2.75 appears to be within reach, the Company is desirous of rewarding its loyal shareholders with an opportunity to participate at a lower price. The process to change the strike price, and to register the underlying stock with such new strike price, will be underway shortly. 

On October 2 GTII announced management, after further market study and input from its legal team, has decided that it is in the best interest of the shareholders of the Company to keep the original exercise price of the warrants it distributed last year. Such decision was made because the common stock underlying the Warrants were registered with the Securities and Exchange Commission in a registration statement on Form S-1 that was declared effective on August 26, 2021 with an exercise price of $2.75. A change to that exercise price would require an amendment to the S-1, which could cause the shares common stock issued pursuant to a new exercise price to not be registered at the time of issuance. As the warrant distribution was originally instituted to reward loyal shareholders and allow them to trade the registered shares of common stock underlying the Warrants, the change to the exercise price has been abandoned, and the Warrants will remain priced as registered for resale by the named selling shareholders in the S-1. Therefore, such shareholders are eligible to exercise their Warrants at the initial exercise price, and receive shares of common stock registered for resale in the S-1 by contacting Liberty Stock Transfer, Inc. (“Liberty”), the company’s transfer agent.

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GTII rocketed up more than 74% on Friday as the stock is quickly becoming among the most talked about stocks in small caps. Currently there is a single short on GTII that is 100 million shares short and is in serious trouble. GTII is gearing up for a big week ahead after the Company announced on Sunday evening it has decided to keep the original exercise price of $2.75 for the warrants. Such decision was as a change to the exercise price would require an amendment to the S-1, which could cause the shares common stock issued pursuant to a new exercise price to not be registered at the time of issuance. Shareholders are eligible to exercise their Warrants at the initial exercise price, and receive shares of common stock registered for resale in the S-1 by contacting Liberty Stock Transfer, the company’s transfer agent. This sets the stage for another big week ahead for GTII which has exploded off its base well under $1 to highs well over $5 per share as the short covering rally continues. Since we first covered GTII in August when the stock was still well below the $1-mark GTII has exploded northbound to well over $5 per share. We will be updating on GTII when more details emerge so make sure you are subscribed to Microcapdaily.

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Disclosure: we hold no position in  GTII either long or short and we have not been compensated for this article

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