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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Global Tech Industries Group Inc (PK) | USOTC:GTII | OTCMarkets | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.0061 | -3.77% | 0.1559 | 0.1526 | 0.1658 | 0.165 | 0.151 | 0.156 | 184,648 | 21:00:06 |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): February 22, 2022
Global Tech Industries Group, Inc.
(Exact name of registrant as specified in its charter)
Nevada | 000-10210 | 83-0250943 | ||
(State or Other Jurisdiction | (Commission | (I.R.S. Employer | ||
of Incorporation) | File Number) | Identification No.) |
511 Sixth Avenue, Suite 800 New York, NY 10011
(Address of Principal Executive Offices) (Zip Code)
(212) -204-7926
(Registrant’s telephone number, including area code)
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
☐ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
☐ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Securities registered pursuant to Section 12(b) of the Act: None.
Securities registered pursuant to Section 12(g) of the Act:
Title of each Class | Trading Symbol | Name of each exchange on which registered | ||
Common Stock | GTII | N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 2.01 Completion of Acquisition or Disposition of Assets
On February 25, 2022, Global Tech Industries Group, Inc. (the “Company”) successfully completed the acquisition of Classroom Salon Holdings, LLC. (“Classroom Holdings”), which previously completed the acquisition of Classroom Salon, LLC. .(“Classroom Salon”) on January 18, 2022. The purchase price was ten million (10,000,000) shares of the Company’s common stock.
The Company is also filing this Form 8-K to provide the amended license between Classroom Salon and Carnegie Mellon University, the financial statements of Classroom Salon and the proforma information required by Item 9.01 of Form 8-K with respect to the acquisition of Classroom Salon.
Item 9.01 Financial Statements and Exhibits
(a) Financial Statement of Businesses Acquire
The audited financial statements as of and for the years ended December 31, 2021, and 2020 and related notes, are filed as Exhibit 99.1 to this report and incorporated herein by reference.
(b) Proforma Financial Information
The unaudited pro forma condensed combined balance sheet as of September 30, 2021, and the unaudited proforma condensed combined statement of operations for the year ended December 31, 2021, showing the pro forma effects of the Company’s acquisition of Classroom Salon, LLC., and related notes, are filed as Exhibit 99.2.to the report and are incorporated herein by reference.
(c) Exhibits
Exhibit No. |
Description | |
10.1 | Amended and restated license agreement between Carnegie Mellon University and Classroom Salon, LLC., dated February 22, 2022. | |
99.1 | Audited financial statements of Classroom Salon, LLC. as of and for the years ended December 31, 2021 and 2020. | |
99.2 | Global Tech Industries Group, Inc.’s unaudited proforma condensed consolidated financial information. | |
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Global Tech Industries Group, Inc. | ||
Date: February 28, 2022 | By: | /s/ David Reichman |
Chairman & CEO |
Pursuant to the requirements of the Securities Exchange Act of 1934, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
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