GGTOOR, Inc., (OTCMKTS:GTOR) Announces It Has Inked a $7,200,000 Parcel Sale in GGTOORCITY

Rhea-AI Summary

GGTOOR, Inc. (OTCMKTS:GTOR) announced a commitment from Nerd Land LLC to purchase a 512m x 512m virtual land parcel in GGTOORCITY for $7,200,000 cash. The signing occurred on August 14, 2022, with payment due by September 14, 2022. This is GGTOOR's second significant sale following the purchase of 4,144 virtual parcels valued at $102,300,000. The company expects these two land sales to generate $9,000,000 in revenue, marking a remarkable 9,640% increase over last year's revenue of $92,399. More developments in GGTOORCITY, including an eSports arena and other attractions, are forthcoming.

Positive

• Commitment from Nerd Land LLC for a $7,200,000 virtual land sale.
• Total revenue from two land sales expected to reach $9,000,000.
• Projected revenue increase of 9,640% from previous fiscal year.

Negative

• None.

THOMASVILLE, GA, Aug. 15, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire – GGTOOR, Inc., (OTCMKTS:GTOR) (“GGTOOR, Inc.,”, “GTOR”, or the “Company”), an emerging leader in the eSports markets, announces the Company has received an executed Commitment to Purchase from Nerd Land LLC., Highland Park, Illinois. Nerd Land LLC., has committed to purchase a 512m x 512m parcel of virtual land in GGTOORCITY, for the full listing price of $7,200,000 cash in USD. The Nerd Land LLC., Commitment to Purchase was signed on Sunday, August 14, 2022., and it calls for Nerd Land LLC., to pay GGTOOR in full on or before, September 14, 2022. In the event Nerd Land LLC., needs an additional 15-days, they must notify the Company on or before Sunday, September 4, 2022.

Nerd Land is the brainchild of Emmy Award Winning writer known widely for the “Revenge of the Nerds” movie franchise. Steve Zacharias graduated from the University of Wisconsin in 1970, drove out to Hollywood and broke into television, writing for Partridge Family, Happy Days, and Winning an Emmy for his story Edith's Problem on All in the Family. After twelve years, Mr. Zacharias co-wrote Revenge of the Nerds and ended up writing eight movies that included Eddie, In the Army Now, and Johnny.

The President of Nerd Land LLC., is Mr. Jake Fine. Mr. Fine is extremely knowledgeable and a successful Commercial Financier with vast experience in all areas of real estate financing, and management including; Purchases; Refinances; Debt Consolidation; Mortgage Restructuring; Condominium Conversions; Construction (both residential and commercial; both new and rehab) Land Acquisitions; Foreclosures; Demand Bond Financing; Leasehold Improvements; Commercial Management; Build-out Allowances and Oversight; Healthcare Financing for Elderly Facilities and Addiction Treatment Facilities. Working Capital for all commercial needs; Zoning Changes. Has consistently shown the uncanny ability of recognizing potential and developing successful closing strategies.

NERDLAND will be a MASSIVE Attraction. As the player enters GGTOORCITY, the cityscape appears on both sides of the road with a real sunrise on Maui rising as a new day in GGTOORCITY begins, when suddenly the SOUND of a CAROUSEL is HEARD, and suddenly an entire amusement park, the size of Disneyland, appears. It has a FLASHING SIGN that reads: NERDLAND. A WILD AMUSEMENT PARK appears. There’s RIDES, a PARACHUTE JUMP, where a player may experience being dropped in a parachute, or holding their arms up and screaming on ROLLER COASTERS, etc. NERDLAND will have GAMES, CHESS, SPEED DATING, TRADING CARDS, HANG OUT WITH YOUR FAVORITE MOVIE or RECORDING STAR. There will be a nerd movie theater that plays Revenge of the Nerds, and lots of the most loved NERDY TV SHOWS. NERDLAND will host STORES with EVERY NERD PRODUCT, COFFEE NERDS, TECHNOLOGY, COCOA, HERBS, HEALTH DRINKS, HEALTH FOODS, CANDY…And HUNDREDS of NERD CHARACTERS, NERDS OF COLOR, FARM NERDS, LGBTQIA NERDS, and the VILLAIN is BIFF from Back to the future, who every once in a while bullies a nerd and the entire amusement park watches and then punishes him nerdily, and everyone goes back to nerd play.

The NERDLAND commitment is the second commitment the Company has executed since announcing it purchased 4,144 parcels of virtual property from TCG.World on May 31, 2022. The Company announced it had purchased $102,300,000 worth of virtual parcels on June 7, 2022. The First Commitment to Purchase was between BALLIN’ IN THE METAVERSE and GGTOOR. BALLIN’ has committed to purchase a 256m x 256m parcel and the commitment was announced on July 19, 2022. BALLIN’ IN THE METAVERSE has until September 18, 2022, to pay GGTOOR.

John V Whitman Jr., Chairman/President/CEO of GGTOOR had this to say, “We are beginning to establish a timeline from contact with a prospective virtual property client to execution of a Commitment to Purchase and finally payment. We believe the sales cycle for these large virtual land purchases are going to range between two months, to as much as six months each. The two sales already inked represent revenue of $9,000,000 in the first fiscal quarter of the year. The year ended May 31, 2022; the Company had revenues of just $92,399. If the Company had no additional revenue for the remaining three quarters of its fiscal year, these two sales represent a 9,640% increase in revenue. Once all expenses are booked against these two sales, the Company should realize profits in excess of 192%. In addition to these sales the Company is planning on constructing an eSports Arena, a Concert Arena, Two High Rise residential buildings, a Mall, a Madison Square Garden-type venue, and finally, Movie Land. In the weeks to come the Company will release more details about the assets it plans on building in GGTOORCITY. Finally, the Company will be selling naming rights to GGTOORCITY and the asking price is $65,000,000 for a ten-year deal. I could not be more pleased with the progress GGTOOR is making. Shareholders will hopefully be blown away with the progress of their Company. Another Press Release will be issued tomorrow, August 16, 2022, that will address questions that shareholders have sent to the Company along with more details on the Company’s expansion of its gaming division.”

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 twenty video game tournaments and has given away over $100,000 in cash and prizes. GGToor.com is continually being customized and upgraded, with the goal of becoming one of the most comprehensive gaming portals in the world. The Company is now accepting subscriptions from players, gamers, and tournament organizers. To register log on to https://GGToor.com/home.php.

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 is GGTOOR, Inc.'s recent land sale to Nerd Land LLC?

GGTOOR, Inc. announced a $7,200,000 commitment from Nerd Land LLC to buy a 512m x 512m virtual land parcel in GGTOORCITY.

When is the payment due for the Nerd Land LLC land purchase?

Nerd Land LLC's payment for the land purchase is due by September 14, 2022.

How much revenue is GGTOOR expecting from recent land sales?

GGTOOR expects to generate $9,000,000 in revenue from the two recent land sales.

What was GGTOOR's revenue last fiscal year?

GGTOOR had a revenue of $92,399 for the last fiscal year.

What developments are planned in GGTOORCITY?

Future developments in GGTOORCITY include an eSports arena, a concert arena, and other attractions.