Welcome to our dedicated page for TPT GLOBAL TECH news (Ticker: TPTW), a resource for investors and traders seeking the latest updates and insights on TPT GLOBAL TECH stock.
TPT Global Tech, Inc. (OTC PINK:TPTW) is a technology holding company based in San Diego, California, specializing in media, telecommunications, Smart City Real Estate Development, and the VüMe Live technology platform. The company operates a proprietary global digital media TV and telecommunications infrastructure platform, offering SaaS, PAAS, and UCaaS solutions to businesses worldwide.
Recently, TPT Global Tech announced partnerships and events like the "Wild and Open" concert experience on VüMe Live PPV App, the premiere of the documentary "Women In Fashion: 100 Years of Design" on Amazon Prime Video, and the live broadcast of the "Walking in Faith Overcoming Fear" amateur boxing tournament. The company is focused on compliance with the SEC and OTC Markets, demonstrating its commitment to transparency and shareholder value.
TPT Global Tech has announced plans to restate its financial statements and has filed an 8-K report with the SEC. The restatement affects quarterly reports for periods ended September 30, 2023, March 31, 2024, and June 30, 2024, as well as the annual report for December 31, 2023. The decision follows a review by management and their accounting firm, Sadler, Gibb & Associates.
The restatement stems from a July 31, 2023 financial agreement involving debt conversion into Series E Preferred Stock, which created a derivative liability of $821,555. The company expects to submit amended filings by December 25, 2024. Management maintains that these errors don't affect their previous assessment of disclosure controls and procedures effectiveness.
TPT Global Tech (OTC PINK:TPTW) has announced NFL Hall of Fame Running Back Eric Dickerson as Brand Ambassador for their upcoming VüMe Super App. Dickerson will host a live sports show and help develop sports content and documentary projects through TPT's Media subsidiary, Blue Collar Productions.
VüMe is an all-in-one platform integrating original content, social media, live broadcasting, and digital services including live TV, VOD, and gaming, scheduled to launch later this year. Blue Collar Productions has previously produced documentaries like 'Women In Fashion: 100 Years of Design' on Amazon Prime and partnered with Smash Mouth for their origin story.
TPT Global Tech (OTC PINK:TPTW) announces the effectiveness of Form S-1 Post-Effective Amendment, activating a $3 million standby equity commitment from MacRab This capital access will support the final development and launch of the company's VuMe Super app, a comprehensive platform integrating communication, entertainment, social media, e-commerce, and financial services. The funding will also help reduce corporate debt and strengthen the balance sheet as the company aims for uplisting to a major US stock exchange.
TPT Global Tech's subsidiary, Blue Collar Productions, has entered into an exclusive agreement with the iconic band Smash Mouth to produce a documentary about their origin story. This announcement comes shortly after DreamWorks Animation revealed plans for a new Shrek movie, which is significant as Smash Mouth's hit song "All Star" was featured in the original Shrek film.
Blue Collar Productions aims to capitalize on the growing popularity of music documentaries, following recent successful releases featuring artists like ABBA, Bruce Springsteen, and The Beach Boys. The company's president, Mark Rowen, expressed excitement about working with Smash Mouth, citing his previous experience with the band during his time at DreamWorks.
TPT Global Tech's CEO, Stephen J. Thomas III, highlighted the potential for monetization through existing content platforms and the company's upcoming VũMe super app, set to launch later this year. This project aligns with Blue Collar's strategy of developing content based on iconic intellectual properties across various genres, including music, sports, true crime, and lifestyle.
TPT Global Tech announces its first international Live PPV professional boxing event, 'Genesis', to be broadcast on VüMeLive PPV platform on September 28, 2024. The event, organized by Roy Foreman, President of Boxing for TPT Media and Entertainment, will take place in Johannesburg, South Africa.
The main event features Patrick 'The Panther' Mukala (15-2-1, 14 KOs) against Ronald 'Akeem' Ellis (18-4-2, 12 KOs). The event will showcase boxers from South Africa, Zimbabwe, Democratic Republic of Congo, New Zealand, and the United States, blending sports with entertainment to celebrate African culture and heritage.
VüMeLive, a subsidiary of TPT Global Tech (OTC PINK:TPTW), aims to deliver world-class Pay-Per-View events. The broadcast begins at 1 pm EST on www.vumeliveppv.com.
TPT Global Tech (OTCQB:TPTW) reported a $4.9 million profit in Q2 2024, primarily due to troubled debt restructuring of $4.7 million. The company filed its June 30, 2024, Form 10-Q, ensuring SEC compliance. For the six months ended June 30, 2024, TPT Global Tech reported a net income of $1.7 million, compared to a $2.8 million loss in the same period of 2023. The company recognized a gain of $3,938,347 from the EMA legal settlement and a gain of $742,728 from the American Tower Settlement. CEO Stephen Thomas expressed excitement about the progress in debt reduction efforts and plans to further reduce debt while investing in global markets and technology.
TPT Global Tech (OTC PINK:TPTW) has announced a partnership with The 100 Sack Club for content creation and revenue generation through its VüMe super app. The collaboration involves producing live podcasts, documentaries, and merchandise featuring club members on the VüMe platform. TPT's film production company, Blue Collar Productions, will create high-quality documentaries for the club.
The partnership includes a revenue-sharing model for content and merchandise sales. A key highlight is the posthumous induction of Deacon Jones into the 100 Sack Club, with a ceremony on August 1, 2024, in Canton, OH. The VüMe app offers features like live streaming, social networking, and e-commerce, enabling the club to engage with fans and sell memorabilia.
TPT Global Tech (OTC Pink: TPTW) announced that its subsidiary, TPT Strategic (INOQ), has merged with Urban Icon™, a holding company focused on FutureTech™ businesses.
This merger involves TPT Strategic acquiring a minority stake while Urban Icon Holdings gains a majority interest. The stock symbol will change from INOQ to NURB (NewUrban™). The merger aims to leverage Urban Icon's expertise in social media, entertainment, and technological innovations to enhance the capabilities of TPT's VüMe super app, which will now integrate a broader range of services.
This strategic move is expected to expand the user base and revenue streams for both companies globally. The merger aligns with TPT's vision of driving social impact through technological advancements and supporting diverse entrepreneurs.
TPT Global Tech (OTC PINK:TPTW) has announced the effectiveness of its Post Effective Amendment Form S-1 related to a $3,000,000 Standby Equity Commitment Agreement with MACRAB, This agreement provides the company with access to weekly financing tranches for up to 24 months, supporting its growth initiatives and the launch of the VuMe Super App. The app aims to integrate digital services like social media, multimedia streaming, and mobile payments into a single platform. CEO Stephen Thomas highlighted that this agreement reflects partners' confidence in the company's vision and provides financial flexibility to accelerate the VuMe Super App development. The financing is expected to help reduce the company's debt burden and manage cash flows while pursuing strategic objectives in the telecommunications and technology sectors.
TPT Global Tech (OTC PINK:TPTW) is exploring the addition of a global sports betting feature to its VüMe Super App. This initiative aims to tap into the thriving online gambling market, projected to reach $100.9 billion in 2024 and $153.57 billion by 2030. The feature would allow users to watch live sports, interact with the community, and place bets in real-time, all within one app.
The company expects this integration to enhance user engagement, increase app usage, and open up new revenue streams through betting commissions and partnerships. It also aims to boost user retention and loyalty by providing unique value propositions. TPT Global Tech believes this feature will set VüMe apart from other super apps, attracting new users and fostering a vibrant community of sports enthusiasts.
FAQ
What is the current stock price of TPT GLOBAL TECH (TPTW)?
What is the market cap of TPT GLOBAL TECH (TPTW)?
What does TPT Global Tech, Inc. do?
What recent events has TPT Global Tech been involved in?
What is TPT Global Tech's focus in terms of compliance?
