New York, NY, Dec. 06, 2022 (GLOBE NEWSWIRE) -- (GTII: OTCQB) Global Tech Industries Group, Inc. (“GTII” or “The Company”), www.gtii-us.com, announced today that its board of directors approved and instructed management to negotiate and execute a service agreement with ShareIntel-Shareholder Intelligence Services, LLC www.shareintel.com to further assist The Christian Levine Law Group, as well as Warshaw Burstein, LLP, each already retained by the Company, to review the trading history of the Company’s common stock for the past two years. ShareIntel offers unprecedented access and insight into broker-dealer, clearing firm and shareholder position movement. ShareIntel utilizes a patented process called DRIL-Down™ to aggregate and analyze repository data from reporting entities, broker-dealers and shareholders enabling Global Tech Industries to proactively track shareholder ownership, identify parties to suspicious, aberrant or unusual trading activity and deploy corrective action steps to help curtail such activity. The Christian Levine Law Group, LLC has been pursuing investment banking and brokerage firms on Wall Street for over 20 years for illegal naked short selling, which is a sophisticated form of stock manipulation. The Company believes it may have been the target of a market manipulation scheme involving illegal naked short selling of its common stock over the last two years and has decided to investigate and expose any wrongdoing.
David Reichman, Chairman of GTII, stated, “Our management team feels that the time for half measures is over. Leveraging ShareIntel’s patented processes and proprietary analytics, we can investigate reporting anomalies among market makers, banks, broker-dealers and clearing firms. In addition, we should also be able to track share ownership and identify any suspicious, aberrant and or unusual trading activity, continuing our commitment to protect our investors and maximize shareholder value. If the Company has been the subject and victim of illegal naked short selling, these two firms should get to the bottom of it.”
David Wenger, President and Chief Executive Officer of ShareIntel, stated, “We look forward to helping Global Tech Industries Group, Inc. identify parties to potentially illegal naked short selling and assist The Christian Levine Law Group to implement action to address such activity.
About Shareintel-Shareholder Intelligence Service, LLC: SIS is a patented compliance driven SAAS retained by public companies to track shareholder ownership, monitor critical broker-dealer and shareholder movement. DRIL-Down™ identifies participants to abusive and illegal short selling providing actionable intelligence. www.shareintel.com
About The Christian Levine Law Group: The Christian Levine Law Group engages in all types of civil litigation, including shareholder and partnership disputes, and stock fraud. The Group operates domestically and internationally, with its corporate headquarters based in Houston, TX https://christianlevinelaw.com
About GTII: GTII is a publicly traded Company incorporated in the state of Nevada, specializing in the pursuit of acquiring and supporting new and innovative technologies through acquisition and joint venture.
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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