GGTOOR, Inc., (OTCMKTS:GTOR) Announces Management Report for the Week Ended December 11, 2021

Rhea-AI Summary

GGTOOR, Inc. (GTOR) reported remarkable growth in its Q4 2021 results compared to Q4 2020. Revenues soared 390% to $22,422, while basic income per share improved from (0.01) to break even. Current assets increased 198% to $120,188, with fixed assets spiking 2,218%. Additionally, the company settled a significant litigation for $84,787.19, resolving potential liabilities of over $9 million. Management anticipates continued growth into 2022, with plans for cryptocurrency integration and more gaming events.

Positive

• Revenues increased by 390% to $22,422.
• Basic income per share improved from (0.01) to break even.
• Current assets rose 198% to $120,188.
• Fixed assets grew 2,218% to $203,511.
• Interest expense decreased 1,036% to $15,560.
• Net loss improved by 31% to $351,088.
• Settlement of SGI Group LLC litigation minimized potential liabilities.

Negative

• None.

November 30, 2021, Quarter Results vs Same Period 2020

THOMASVILLE, GA, Dec. 13, 2021 (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 completed and filed its Quarterly Financial Disclosure for the period ended November 30, 2021, and when compared to the same period just one year ago today highlights the tremendous growth the Company has experienced. Shareholders should be asking one critical question;  “Is management growing and improving this Company?” 

The next couple of paragraphs will provide a comparison of actual results from the quarter ended November 30, 2021, verses the same quarter just one year ago. Although highlighting a single quarter result may not be as dramatic as annual comparisons, the intent is to show shareholders a microcosm of operating results. A microcosm by its very definition is a small subset of a whole that is generally considered to be representative of the whole. By doing a deep dive in quarterly numbers one can draw a conclusion as what to expect annually.

Revenues spiked 390% to $22,422 for the three months ended November 30, 2021, verses just $4,579 for the three-month period ended November 30, 2020. Basic and Diluted income (loss) per share improved from (0.01) in 2020, to break even in 2021. Total current assets are up 198% to $120,188 from $40,270. Fixed assets grew 2,218% from $8,780 in 2020 to $203,511 in 2021. Interest expense improved 1,036% from $176,821 for the three months in 2020 to just $15,560 in 2021. Net loss improved by 31% from $458,268 in 2020 to $351,088 in 2021. Employee cost improved by 14% from $172,073 in 2020 to $147,252 in 2021. The Company has maintained a Zero balance for its trade payables consistently since January 2020, meaning all invoices are paid by the Company the day they are received.

Perhaps the single biggest impact event during the Quarter ended November 30, 2021, was the resolution of the SGI Group LLC litigation. For new shareholders or those just beginning to follow the Company, in October the Company settled a major litigation action. To recap, on July 12, 2020, SGI Group LLC filed a Motion for Summary Judgment in Lieu of Complaint in New York against the Company claiming various Convertible Notes executed in 2013 were in default and they asked the court to grant them a judgment in the amount of $9,430,764.76 plus (a) accruing interest at the default interest rate of 22% per annum to the date of entry of judgment (b) for SGI Group LLC’s reasonable costs and attorney’s fees (c) granting SGI Group LLC, such other and further relief as this court may deem just and proper. A settlement agreement was reached on October 19, 2021, in the amount of $84,787.19, an amount of which the Company offered to SGI Group LLC weeks earlier. The Company wire transferred the entire settlement amount on October 20, 2021, and the matter became officially closed. The Company has a fully executed settlement agreement in place and no future action can arise.

As the end of the year grows closer, management is looking toward 2022 and continues to make plans to reach even higher levels of achievement in the year ahead, but December still promises to be another exciting month for GGToor!

The Company held its first tournament event for Pokemon VGC, its first official BGMI event is underway, and the Company plans to also offer a Digimon event for the first time later in the month. The Company has taken on new organizers to offer Call of Duty Mobile and Brawlstars once again, along with many of other favorites returning for the holiday season. The Company had over 1,000 combined player registrations for this week's events, and after hard-fought matches our newest champions have emerged!

Gaming Influencers, Streamers, Leagues and Organizers are pushing the industry forward. It is important to explore how eSports has impacted the streaming industry to date, and where the market could improve as the media & entertainment industry looks toward a post-pandemic era. GGToor platform is a fertile ground for those that want to grow and have influence in the game scene.

This has been a year of great growth for GGToor but 2022 will be better as we build on the great foundation of the last year. The Company has explosive plans to keep expanding. The Company will soon launch its cryptocurrency blockchain technology to process payments and transactions across all the world jurisdictions. The Company’s tournaments will continue to post impressive numbers month over month as we add more events. The Company is also working on our venue affiliate program; this program will support independent venues that will promote in-person and online events. With all the Company has accomplished this year it is just the beginning of our journey. If you have been with us since the beginning or you are new to the GGToor family, hang in there, the best is yet to come.

Want to participate? Find the plan that best suits you! You can choose between the Bronze Plan, Gold Plan, and Diamond Plan: https://GGToor.com/join.php.  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, and Facebook https://www.facebook.com/eShadowGaming.

If your organization would like to be part of this growth and work with Shadow Gaming, contact us at luis@shadowgamingtv.com.

About GTOR

GGTOOR, Inc., is a developmental stage company engaged in the business of eSports. The company, through its wholly owned subsidiary, Shadow Gaming, Inc., has aggressively entered the eSports market. Shadow Gaming’s portal 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 . In addition, the company plans to operate a few subsidiary companies from high tech data management businesses to product and support businesses. Finally, the Company is actively looking for locations to build indoor eSports arenas that will host major international gaming tournaments.

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 were GGTOOR's revenue results for Q4 2021?

GGTOOR's revenues for Q4 2021 were $22,422, representing a 390% increase compared to the same period in 2020.

How did GGTOOR's net loss change in Q4 2021?

GGTOOR's net loss improved by 31% in Q4 2021, decreasing to $351,088 from $458,268 in Q4 2020.

What significant litigation did GGTOOR settle?

GGTOOR settled a major litigation with SGI Group LLC for $84,787.19, resolving potential liabilities exceeding $9 million.

What financial improvements did GGTOOR achieve in Q4 2021?

GGTOOR reported improved basic income per share, a rise in total current assets by 198%, and a reduction in interest expense by 1,036%.

What are GGTOOR's plans for 2022?

GGTOOR plans to expand its gaming events, integrate cryptocurrency for transactions, and build on its growth achievements from 2021.