Global Tech Industries Group, Inc. Provides Update on Completion of Bronx Family Eye Care, Inc. Audit and Exploration of Up-Listing.

Rhea-AI Summary

Global Tech Industries Group, Inc. (OTCQB: GTII) announced the successful completion of an audit for its wholly-owned subsidiary, Bronx Family Eye Care, Inc.. This milestone paves the way for GTII's management to explore an up-listing to a national exchange, with plans to submit an application by the first quarter of 2022. The announcement highlights GTII's ongoing commitment to acquiring innovative technologies and expanding its business operations.

Positive

• Successful completion of Bronx Family Eye Care audit enhances GTII's financial standing.
• Exploration of up-listing to a national exchange could increase visibility and liquidity for GTII.

Negative

• No assurance of sustainable growth or profitability due to uncertainties in acquiring new businesses.
• Significant expenses incurred during the development stage may hinder financial stability.

New York, NY, Dec. 30, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that Bronx Family Eye Care, Inc. has successfully concluded the requisite audit of its financial statements and is now a wholly-owned subsidiary of GTII.

Additionally, with the completion of the Bronx Family Eye Care audit, the Board of Directors of GTII has directed management to explore up-listing to a national exchange, and if feasible, to submit the necessary application within the first quarter of 2022.

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.

Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.

Mike King
Princeton Research, Inc.
3887 Pacific Street, Las Vegas, NV
702.338.2700

FAQ

What is the recent development for GTII regarding Bronx Family Eye Care?

GTII has successfully concluded the audit of Bronx Family Eye Care, making it a wholly-owned subsidiary.

What plans does GTII have for a national exchange listing?

GTII's management is exploring the possibility of an up-listing to a national exchange, potentially applying in Q1 2022.

Why is the audit completion significant for GTII?

The completion of the audit boosts GTII's credibility and sets the stage for future financial growth and operational expansion.