GGTOOR, Inc. (OTCMKTS:GTOR) Announces Its Regulation A Registration Has Been Voluntarily Terminated -- Dilution From Sales of Stock Screeches to a Halt

Rhea-AI Summary

GGTOOR, Inc. (OTCMKTS:GTOR) has voluntarily terminated its Regulation A Registration as of October 20, 2022. The company reported having 241,291,152 common shares outstanding, with 131,350,886 shares in public float. Initially, 187,500,000 shares were to be sold, but only 33,444,517 shares were sold at prices ranging from $0.011 to $0.022. CEO John V Whitman Jr. emphasized that this decision aims to reduce shareholder dilution and enhance confidence among investors as the company seeks growth through revenue and debt.

Positive

• Termination of Regulation A Registration may reduce shareholder dilution.
• The company aims to keep total outstanding shares below 250 million.
• GGTOOR is experiencing significant growth in the eSports sector, indicating strong market potential.

Negative

• Only 33,444,517 shares sold of proposed 187,500,000, indicating weak investor interest.
• CEO acknowledged potential loss of investor confidence due to prior dilution.

THOMASVILLE, GA, Oct. 25, 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 voluntarily terminated its Regulation A Registration.  Form 1-Z was accepted by the Securities and Exchange Commission on October 20, 2022, at 17:55:04 and the official filing date was October 21, 2022.

As of yesterday, October 24, 2022, the Company had a total of common shares issued and outstanding of 241,291,152 with only 131,350,886 shares in the public float and 109,940,266 common shares held in certificate form by a total of 124 shareholders.

The registration statement that was voluntarily terminated by the Company called for a total of 187,500,000 shares to be sold within a range from $0.001 to $0.08. The actual number of common shares sold to accredited investors was just 33,444,517 at a price range from $0.011 to $0.022. One sale that was executed prior to the voluntarily termination has not been delivered. Once delivered, that sale will increase the total issued and outstanding and the total shares in the public float by 2,272,727 shares. The number of shares sold is properly reflected in the form 1-Z and it includes the shares that have yet been delivered and that total is 33,444,517.

John V Whitman Jr., the Company CEO had this to say, “The Company has relied upon Regulation A sales to fund the Company during its startup phase. Regulation A is both a blessing and a curse. It’s a blessing for two reasons: (a) it provides a vehicle to get shares in the public float and allows for a vigorous trading market, and (b) it allows Companies who would not qualify for traditional bank financing to have a resource to generate equity capital. The curse is (a) dilution to shareholders and (b) the loss of confidence from the investing public who has to constantly guess when will the dilution end.”

Whitman continued by saying, “Voluntarily terminating the Reg A is the most positive and impactful move in our short history. My goal from the beginning was to keep the total issued and outstanding below 250,000,000 shares and fund the Company future growth using a combination of revenue generation and debt. We have met those goals. GGToor was born out of necessity after COVID killed the original business model that was Sports Venues. Speaking frankly, that first year had us questioning if eSports was the sector to enter. Since that first year was met with such overwhelming success, it turns out we could not have selected a better sector. eSports is here to stay, and gaming is without parallel the most explosive entertainment sector available today. The tremendous growth over the past two years has been nothing short of miraculous and the future of GGToor is not just bright, it’s brilliant. Only the street held shareholders can determine what value it places on the Company’s stock. Shareholders and those interested in investing in potentially undervalued stock should consult with their financial advisors and take a serious look at GTOR. We are more than confident the market cap of the Company would be reflected with a drastically increased share price if investors would study the history and acquaint themselves with the fundamentals. Unfortunately, far too many rely on the falsehoods spread over chat rooms by people whose only goal is to drive the price down to favor their position in the security. GGToor is comprised of a group of dedicated, hardworking families whose entire lives are devoted to building GGToor into a generational enterprise.”

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 $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 logon 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 the significance of GGTOOR's termination of Regulation A Registration?

The termination aims to reduce shareholder dilution and increase investor confidence.

How many shares are outstanding for GGTOOR as of October 2022?

As of October 24, 2022, GGTOOR has 241,291,152 common shares outstanding.

How many shares were sold under the terminated Regulation A?

Only 33,444,517 shares were sold at prices between $0.011 and $0.022.

Who is the CEO of GGTOOR, and what are his views on the termination?

John V Whitman Jr., the CEO, believes the termination is a positive step for reducing dilution and improving market confidence.

What is the public float for GGTOOR's shares?

GGTOOR has 131,350,886 shares in public float.