New York, NY, October 30, 2022 (GLOBE NEWSWIRE) — (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII‘ or ‘The Company’), www.gtii-us.com, announced today that it has received an inquiry from FINRA regarding the timeline of events leading up to its recent announcement on September 27, 2022 to reduce the exercise price on its outstanding warrants that were distributed last year. GTII decided against a price cut three days later after proving that the perceived value for its shareholders was wrong and that the new exercise price, which could restrict new shares for another six months, could penalize them. GTII was informed of the request by FINRA on October 20, 2022 via email to the Chairman, Mr. David Reichman. The company worked diligently to respond to the request in a timely manner and was able to complete the information upload on Friday 28th October 2022.
The Company also wished to inform its shareholders that Wildfire Media Corp (“Wildfire”) has retained UHY Advisors, LLP, a PCAOB auditing firm based in Sterling Heights, MI, to begin the required two-year PCAOB audit. Examination is a due diligence completion condition for the 1-800 Law Firm (“1-800”) acquisition in order to move forward. Wildfire hopes to have it ready before the end of the year.
Ray Bonkowski, Chief Operating Officer of 1-800 Law Firm (“1-800”) specified, “We are almost done with the updates and adjustments needed to complete the audit in good shape. 1-800 was on the road this fall and in October attended the Mass Torts Made Perfect Conference, one of the largest conferences of its kind in our industry where we met with our existing customer base as well as several new prospects and potential customers. We are ready to finalize our 2023 budget, having updated our current agreements and bringing home a number of new agreements. As we begin work on our 2023 conference schedule, we believe we are well positioned to have our most successful year yet.’
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