Global Tech Industries Group, Inc. Announces Update Regarding Non-Fungible Tokenization Efforts
Global Tech Industries Group, Inc. (GTII) announced updates on its non-fungible tokenization strategies. The Company is collaborating with Ronald Cavalier to explore tokenization for fine art and other assets. GTII is in the process of evaluating vendors for necessary platforms and services, aiming to issue digital asset dividends to shareholders, enhancing their involvement in the tokenization process.
However, the Company notes that significant expenses incurred during its development stage could affect profitability, highlighting potential risks associated with growth and regulatory compliance.
- Collaboration with Ronald Cavalier to develop a tokenization strategy.
- Exploration of issuing digital asset dividends to enhance shareholder participation.
- Potential difficulties in sustaining growth and achieving profitability.
- Significant ongoing expenses in the development stage without guaranteed revenue.
New York, NY, April 08, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation announced today an update regarding its non-fungible tokenization efforts.
As indicated in the Company's press release yesterday regarding Ronald Cavalier's retention as an independent contractor, Mr. Cavalier will help the Company develop a potential strategy for fine art, and other assets that may be appropriate for tokenization.
While working with Mr. Cavalier in these efforts, the Company is evaluating certain vendors that offer platforms and other services required in connection with its tokenization efforts. The Company will also assess whether it can use such platforms to issue digital asset dividends to its shareholders, which would enable shareholders to participate more directly in the Company's tokenization efforts.
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.
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FAQ
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