New York, NY, Feb. 21, 2023 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today that Wildfire Media Corp has informed the Company that its two-year PCAOB audit should be completed within the next two weeks and that it intends to undertake the requisite 2022 audit shortly thereafter. The Companies have agreed to target a final close to the acquisition of on or about April 1, 2023.
David Reichman, CEO of the Company, stated, “We are pleased that Wildfire is rounding the final turn of the 2020 and 2021 audit of 1-800-LAW-FIRM, and we look to receive the final report in the next few weeks. When a private company undertakes the rigors of a PCAOB audit, it stands to reason that it will take some time. We are pleased by the determination and attention to detail exhibited by Wildfire and their audit team as they move to complete this very arduous part of the due diligence process when agreeing to become part of our company.”
Ray Bonkowski, COO of Wildfire Media, stated, “The audit team has kept the disruptions of our day-to-day business at a minimum while they complete the audit, required as part of the due diligence process. Our team continues to execute at a high level and we’re in position to deliver another outstanding year for the 1-800-LAW-FIRM brand while continuing to invest in high-priority areas, including in our product offerings, building out our go-to-market strategy and technical roles."
About GTII: GTII is a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring new and innovative technologies. Visit GTII here https://gtii-us.com/.
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This press release may contain forward looking statements that are based on current expectations, forecasts, and assumptions that involve risks as well as uncertainties that could cause actual outcomes and results to differ materially from those anticipated or expected, including statements related to the amount and timing of expected revenues related to our financial performance, expected income, distributions, and future growth for upcoming quarterly and annual periods. These risks and uncertainties are further defined in filings and reports by the Company with the U.S. Securities and Exchange Commission (SEC). Actual results and the timing of certain events could differ materially from those projected in or contemplated by the forward-looking statements due to a number of factors detailed from time to time in our filings with the SEC. Among other matters, the Company may not be able to sustain growth or achieve profitability based upon many factors including but not limited to the risk that we will not be able to find and acquire businesses and assets that will enable us to become profitable. Reference is hereby made to cautionary statements set forth in the Company’s most recent SEC filings. We have incurred and will continue to incur significant expenses in our development stage, noting that there is no assurance that we will generate enough revenues to offset those costs in both the near and long term. New lines of business may expose us to additional legal and regulatory costs and unknown exposure(s), the impact of which cannot be predicted at this time.
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Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011
Info@gtii-us.com
