GLOBAL TECH INDUSTRIES GROUP, INC. (OTCMKTS:GTII) Files An 8-K Regulation FD Disclosure
Item 7.01 Regulation FD.
Global Tech Industries Group, Inc. (the Company) has worked
diligently towards the completion of filing its Annual Report on
the Form 10K for the fiscal year ended 2016. While the Company is
expected to complete its audit of its United States entities
within the next two weeks and file its 2016 Annual Report within
the permitted extension period, the Company does not expect to be
able to include the audit of its wholly owned Hong Kong
subsidiary business, Go F B Holdings, Ltd., within the same time
frame. The Company has not yet been able to obtain all the books
and records necessary for its PCAOB auditor to complete the audit
of GO F B Holdings, Ltd., which the Company acquired through its
wholly owned subsidiary, G T International, Inc., on December 30,
2016, through a stock purchase agreement. Therefore, the Company
will file its Form 10-K without including and consolidating the
financial statements of GO F B Holdings, Ltd. As soon as the
audit of Go F B Holdings, Ltd. is complete, the Company will
amend its audited financial statements and file an amended 2016
Annual Report on Form 10-K/A to reflect and consolidate the
audited financial statements of Go F B Holdings, Ltd. into the
Companys audited financial statements. The Company expects to
receive the audited financials of the acquired subsidiary before
the next filing date of May 15, 2017, which is the date for
filing the 2017 First Quarter 10-Q.
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About GLOBAL TECH INDUSTRIES GROUP, INC. (OTCMKTS:GTII)
Global Tech Industries Group, Inc., formerly Tree Top Industries Inc., is a development-stage company. The Company is engaged in acquiring companies and technologies using various business paradigms, including exchange of stock, joint venture and other partnership configurations. The Company is involved in producing oil from its oil and gas operations in the State of Kansas. The Company holds working interest in the Ownbey Oil and Gas leases in Chautauqua County Kansas. The lease has approximately 13 working wells out of a total of over 30 wells. The Company owns intellectual properties pertaining to the construction of the mobile configuration and operation of the glyd-arc medical waste destruction unit, as well as configuration and method for coal gasification. Its subsidiaries include NetThruster, Inc., BioEnergy Applied Technologies Inc., GoHealthMD, Inc., MLN, Inc., Eye Care Centers International, Inc., TTI Strategic Acquisitions and Equity Group, Inc. and TTII Oil & Gas, Inc. GLOBAL TECH INDUSTRIES GROUP, INC. (OTCMKTS:GTII) Recent Trading Information
GLOBAL TECH INDUSTRIES GROUP, INC. (OTCMKTS:GTII) closed its last trading session up +0.021 at 0.240 with 28,955 shares trading hands.
