GGTOOR Launches GGTOORCITY in TCG.WORLD -- A $102,300,000 Metaverse Deal

Rhea-AI Summary

GGTOOR, Inc. (GTOR) has announced a landmark purchase of 2,145 virtual land parcels in TCG World, totaling $102.3 million, marking the largest metaverse land acquisition in history. This acquisition will form GGTOORCITY, enhancing the company's position in the eSports and NFT domains. The company aims to upgrade from OTC:PINK to OTC:QB, contingent on meeting certain stock price thresholds. Additionally, GGTOOR is opening commercial parcels for sale, priced from $375,000 to $28 million. Construction of the GGTOOR Tournament Arena is set to begin in August 2022, with aims for full operation in early 2023.

Positive

• Acquisition of 2,145 virtual land parcels in TCG World for $102.3 million enhances GTOR's presence in the metaverse.
• Acquisition believed to be the largest virtual land purchase in metaverse history.
• Potential upgrade from OTC:PINK to OTC:QB, which may improve stock liquidity and investor interest.
• Opening for immediate commercial parcel sales with prices ranging from $375,000 to $28 million may generate significant revenue.

Negative

• None.

THOMASVILLE, GA, June 14, 2022 (GLOBE NEWSWIRE) -- via NewMediaWire -- GGTOOR, Inc. (OTCMKTS:GTOR) (“GGTOOR, Inc.”, “GTOR”, or the “Company”), an emerging leader in the eSports markets, announces GGTOORCITY is located within TCG.WORLD. TCG World is the largest open world blockchain based game where players can earn TCG Coin 2.0, gather NFT collectibles, own virtual real estate, create, explore the game world, control their own online businesses, or just have fun. TCG World introduces an innovative approach to NFTs, making it more than just a piece of art - now players can take their NFTs into the virtual game world and play. Everything a player owns in the Metaverse is an NFT - real estate, vehicles, pets, trophies, and even player avatars.

The Company chose TCG World for several reasons but at the top of the list is their commitment and dedication remaining pure to the principals and foundations that define the Crypto, Gaming and NFT communities. Second, unlike two of the more recognized Metaverses, TCG World was built using a gaming format. For example, if you want to own a Lamborghini in Decentraland, all you can do is look at it. If you build a Lambo in TCG World, you can drive it. If you built a golf course in Decentraland, all you can do is look at it; in TCG World you can play the entire course. Third, graphics, graphics, graphics! Need we say more, TCG World brings the most realistic graphics of any Metaverse. The bottom line is the people behind TCG World are good, pure and their commitment to excellence makes TCG World the only logical choice for anyone who believes as GGTOOR does, which is the Metaverse will be a part of all our lives going forward.

The Company inked the deal with TCG World on May 31, 2022. The Company purchased a total of 2,145 commercial parcels of virtual land that will combine to make up a total of 4,144 unique properties all located in GGTOORCITY within TCG World. The purchase totalled $102,300,000 and is believed to be the largest purchase of virtual land in Metaverse history. The Company acquired the parcels by issuing its blank check preferred stock, one share for every parcel purchased. The Company has the right to redeem its preferred stock at the time of sale. In addition to the blank check preferred the Company will be issuing 15,000,000 shares of its “Restricted” common stock to TCG World or its designee as part of the partnership agreement. This purchase structure was thought by management to be an equity transaction and since closing has sought outside opinion if this purchase would be considered equity under guidelines of a PCAOB audit using the strictest GAAP requirements. The Company received affirming guidance provided by the independent accounting firm of A-Frame Accounting & Advisory of Tampa, Florida, on Friday, June 10, 2022. A-Frame Accounting was recommended by our independent auditors and their guidance will be used during the audit process. Simply put, the Company’s balance sheet will increase by the total purchase or $102,300,000. A copy of this guidance has been uploaded to the OTCMarkets.com site, at the GTOR Quote page, under the Research Tab next to the Disclosure Tab.

The Company will be filing its unaudited annual financial disclosure in the next few days with OTCMarkets.com which will contain a balance sheet reflecting this purchase. In addition, the Company has retained Accell Audit & Compliance, PA, Tampa, Florida, to be its independent auditor. They will begin auditing the Company’s records June 20, 2022. Once completed the audited financials will allow the Company to apply to upgrade from the current OTC:PINK market to the OTC:QB. The Company will make application as soon as practical after audits are complete. If the bid price of the Company’s stock is able to achieve a price above $0.25 for the required time, the Company will forgo its plans to upgrade to the OTC:QB and it will make application to the OTC:QX.

The Company is making available for immediate purchase commercial parcels in GGTOORCITY. Effective today the Company has opened for purchase up to 100, 128m x 128m parcels priced at $375,000 each. Thirty-five, 256m x 256m parcels are priced at $1,800,000 each. Six, 512m x 512m parcels priced at $7,200,000 each and three, 1012m x 1012m parcels priced at $28,000,000 each. Interested individuals or businesses can talk with anyone of the Company’s three Commercial Property Experts: Justin Del Giudice can be contacted at: justin@ggtoorcity.com, Andre Allen can be contacted at andre@ggtoorcity.com or Tyler Wilke at: tyler@ggtoorcity.com. The Company will have smaller city parcels available later this summer and they are 16m x16m. Initial pricing on the 16m x 16m city parcels is $8,400 and will be reserved on a first come, first served basis only for the first 250 reservations. If you want to be placed on the list for a 16m x 16m at the introductory price you must email one of the members of the sales team and your reservation will only be confirmed once you receive confirmation from one of our commercial property experts your request has been received and approved. The Company will notify those people with confirmed reservations 30 days prior to their release date, and they will be instructed how to submit payment. Only 2,000 total units will be made available, and the price is not guaranteed after the introductory slots have been taken. 

You can also reach our Commercial Property Experts by going to https://ggtoor.com/ggtoorcity.php.

In addition, the Company will be building in the very center of GGTOORCITY, High Rise residential buildings. Individual units will be made available in the fall of 2022 with introductory prices starting at $10,000 per unit. Just as with the 16m x 16m city parcels, the Company will be accepting reservations on a first come, first served basis for the first 250 individuals who submit a request. If you want to be placed on the list for a residential unit at the introductory price you must email one of the members of the sales team and your reservation will only be confirmed once you receive confirmation from one of our commercial property experts your request has been received and approved. The Company will notify those people with confirmed reservations 30 days prior to their release date, and they will be instructed how to submit payment. Only 2,000 total units will be made available, and the price is not guaranteed after the introductory slots have been taken. You can also reach our Commercial Property Experts by going to https://ggtoor.com/ggtoorcity.php.

The central focal point of GGTOORCITY will be the GGTOOR TOURNAMENT ARENA. This one-of-a-kind, virtual gaming arena will be capable of holding 30-live streaming video game tournaments at a time. The Company anticipates when fully implemented GGTOOR TOURNAMENT ARENA will attract thousands of gamers and hundreds of thousands of viewers daily. Construction will begin August 2022 and the Company expects the ARENA to be fully operational early 2023. GGTOOR TOURNAMENT ARENA will stand as testament to the core values that GGTOOR was founded under which is to provide gamers around the world with a vast diversity of gaming options while offering players the opportunity to win cash and prizes. The introduction of GGTOOR TOURNAMENT ARENA will also mark the introduction of GGCOIN. GGCOIN will be a real currency players will have the chance to win and earn. Soon to be introduced into GGTOORCITY will be the opportunity for visitors to earn TCG COIN 2.0 which is available and currently value priced at just over $0.20. Combining the power, creativity, versatility, superior graphics, and constant innovation of TCG World and the steadfast dedication of GGTOOR to the gaming community, the combined forces of our two companies will revolutionize the Metaverse for decades into the future.

As part of the partnership agreement between TCG World and the Company, GGTOOR will have the right to duplicate its purchase of GGTOORCITY to the other three cities within TCG World. TCG World is made up of 100,000 parcels of land anchored by four Cities. GGTOORCITY is the first and only City that is open for commercial purchase. Once GGTOOR has reach 70% sellout in GGTOORCITY, it will have the right to purchase the next city and so on.

GGTOOR will be in Las Vegas July 8-10, at The Metaverse Expo 2022. The Metaverse Expo is brought to you by TCG World and JPiC. The goal of the expo is to bring together innovative entrepreneurs to connect and interact with industry leaders impacting the Metaverse, Gaming and NFT Space. If you are in Vegas stop by the GGTOOR booth and say hello!

John V. Whitman Jr., GGTOOR CEO, had this to say, “Announcing this tremendous expansion of GGTOOR is perhaps the major highlight of my professional career. The unlimited revenue possibilities the Metaverse will provide and specifically our relationship with TCG World, marks that moment when a business startup makes the transition from being a highly speculative business venture to a very explosive and sustainable business model. I could not be prouder to be associated TCG World. These resolute people are true innovators that are committed to maintaining the foundation of transparency that has become the fundamental attraction to the cryptocurrency, NFT, gaming and blockchain communities. Shareholders of GGTOOR have been supportive of management and it is management’s distinct honor to bring them this unprecedented and transforming transaction.”

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 engaged in the business of eSports. The Company is aggressively entering the Metaverse by having purchased enough virtual land, 2,144 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 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 GTOR's recent acquisition related to TCG World?

GTOR has purchased 2,145 virtual land parcels in TCG World for $102.3 million, forming GGTOORCITY.

When did GTOR announce the purchase of virtual land parcels?

GTOR announced the purchase on June 14, 2022.

How does the acquisition affect GTOR's balance sheet?

The acquisition will increase GTOR's balance sheet by $102.3 million, reflecting the total purchase value.

What are the future plans for the GGTOOR Tournament Arena?

Construction of the GGTOOR Tournament Arena will begin in August 2022, with an expected operational date in early 2023.

What are the prices for commercial parcels in GGTOORCITY?

Commercial parcels in GGTOORCITY are priced from $375,000 up to $28 million.

What stock comparison is GTOR aiming for?

GTOR aims to upgrade from OTC:PINK to OTC:QB or possibly OTC:QX, depending on stock price performance.