GGTOOR, Inc., (OTCMKTS:GTOR) Announces Buyer for Last Reg A Sale for 2,272,727 Defaulted, Shares Remain in Treasury
GGTOOR, Inc. (OTCMKTS:GTOR) announced the termination of a sale of 2,272,727 shares due to a buyer default, resulting in a total sale of 31,171,790 shares instead of the reported 33,444,517. Financing for Nerdland LLC is progressing, as the lender appreciates the project, looking for asset appraisal completion. Interest in virtual land parcels in GGTOORCITY has slowed, yet potential sales are expected soon. The company remains unaffected by the FTX collapse and is proceeding cautiously in crypto dealings, now accepting only USD. Tournament results remain strong, with a notable 60% increase in player registrations for a recent event.
- Nerdland LLC financing is progressing with lender commitment.
- Tournament events show strong participation, with a 60% increase in registrations.
- Sale of 2,272,727 shares was terminated due to buyer default.
- Interest in virtual land parcels has decreased.
THOMASVILLE, GA, Nov. 16, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – GGTOOR, Inc., (OTCMKTS:GTOR) (“GGTOOR, Inc.,”, “GTOR”, or the “Company”), an emerging leader in the eSports markets, announces the buyer for the last sale the Company agreed to make in the amount of 2,272,727 shares defaulted on payment. The Company terminated the sale, and those shares remain in treasury. This canceled sale means that the Company only sold 31,171,790 shares in its recent terminated Regulation A Registration not the 33,444,517 reported when the Company filed the 1-Z terminating the registration.
Nerdland LLC., financing is progressing nicely and although a closing date has not been provided by the lender. Nerdland assets are being appraised and evaluated and the value of those assets will be the most critical aspect of the final approval from the lender. The Company can confirm the lender really loves the Nerdland project and they are committed to do everything within their underwriting guidelines to close Nerdland’s financing.
The Company can announce interest in its commercial parcels of virtual land in GGTOORCITY has slowed but the few customers who have expressed serious interest are moving forward. The Company expects to announce at least one sale soon.
The Company has not been affected by the recent FTX collapse and it has no business, accounts, dealings, or interactions with FTX, Sam Bankman-Fried or any of the 130+- companies tied to FTX. The Company remains positive about the future of Crypto but is moving very slowly and cautiously and for the foreseeable future will only accept USD in exchange for its goods and services.
GGToor has received a verbal commitment that its funding is going to happen, and it is expecting final terms and conditions any day. A closing before the end of November is highly probable. The Company will share terms of its funding commitment with the public once it has accepted and all agreements have been executed by the parties.
The Company’s tournament division enjoyed another week of solid results, with every event exceeding projection. Most notably, the Blood Bowl 2 event saw over 200 player registrations, representing a
The company’s newest undertaking, expanding the broadcasting of video gaming tournaments, to include news programming and interviews, will be one of the most exciting projects that we will embark upon. Content from eSports events can be aggregated from dozens (or even hundreds) of locations around the world, while an increasing number of major in-person events return, bringing gamers to central locations, complete with the latest technology. Our plan is to create the most complete organized broadcasting of eSports and web3 content in the world. Many esports events cater to the fan base of the game being featured, giving communities ways to watch and interact with their favorite personalities and fellow fans.
Our company will be one of the first (if not the only) channel to offer a twenty-four hour a day lineup of eSports and web3 content, with studios in the three most active eSports markets in the world: the USA, Brazil, and South Korea.
The Company has achieved many accomplishments in a relatively short period of time, but we are just getting started. The Company continues to explore new ways to expand and innovate the types of competitions we can offer, identifying new games and communities that we can regularly support. The Company is very excited about what the future holds, as it continues to plan expansion into Web3 and all the possibilities that will bring!
Want to participate? If you want to bring your team or friends to GGToor.com or be a Tournament Organizer, we can support you and help you grow; you can reach a worldwide audience of similar-minded individuals that like to compete and have fun! You can be sure that GGToor.com is here to grow with you. Just follow the link to sign up as an organizer https://GGToor.com/organizerlogin.php If you have any questions about our events visit our socials; Discord https://discord.gg/GUhyZxFH8Q, Twitter https://twitter.com/GGToor/, twitch https://www.twitch.tv/GGToor, Facebook: https://www.facebook.com/gaming/eShadowGaming and Youtube: https://www.youtube.com/channel/UCTcWVwGhX2XnjB6bn5_3jnw
About GTOR
GGTOOR, Inc., is engaged in the business of eSports. The Company is aggressively entering the Metaverse by having purchased enough virtual land, 4,144 parcels, to form its own virtual city that will be called GGTOORCITY. The Company has held over two hundred sixty video game tournaments and has given away over
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections as well as our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of GGTOOR, Inc.
For Additional Information Contact:
John V Whitman Jr.,
John@GGToorcorp.com
https://GGToorcorp.com/
https://GGToor.com/home.php
FAQ
What recent event affected GGTOOR's share sales?
What is the current status of financing for Nerdland LLC?
How did GGTOOR fare with recent eSports tournaments?
How is GGTOOR managing its crypto assets post-FTX collapse?
What are GGTOOR's plans for virtual land in GGTOORCITY?
