Global Tech Industries Group, Inc’s. completes acquisition of Classroom Salon, LLC.
Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that Classroom Salon, LLC, (“Classroom Salon”) has successfully completed the requisite audit of its financial statements. In addition, Classroom Salon has delivered to the Company an Amended and Restated License Agreement with Carnegie Mellon University. Previously, on January 18, 2022, GTII’s subsidiary Classroom Salon Holdings, LLC (“Classroom Holdings”) executed agreements for the acquisition of Classroom Salon. All members of Classroom Salon, including Carnegie Mellon University, in partnership with whom the Classroom Salon software was originally developed, executed the purchase and assignment agreements. As a result of the successful completion of these three events, Classroom Salon is now a wholly-owned subsidiary of Classroom Holdings, a wholly-owned subsidiary of GTII.
David Reichman, GTII’s Chief Executive Officer, stated “Now that this deal has been successfully closed, our team can focus its time and efforts on introducing Classroom Salon’s software to a wider audience and larger client base. We believe that the benefits of virtual learning through its workflows and algorithms is immeasurable, and we are thrilled to be part of it.”
Tommy Wang, Classroom Salon’s President, stated, “We would also like to acknowledge the Classroom Salon team, who, along with GTII, has worked tirelessly to bring this new partnership about. The education ecosystem we are introducing should allow for operation in a fully virtual environment, and the implications of that for both students and educators could be dramatic, as student experience continues to be enhanced in real time.”
About Global Tech Industries Group, Inc.: 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/.
Safe Harbor Forward-Looking Statements:
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.
Words such as “estimate,” “project,” “predict,” “will,” “would,” “should,” “could,” “may,” “might,” “anticipate,” “plan,” “intend,” “believe,” “expect,” “aim,” “goal,” “target,” “objective,” “likely” or similar expressions that convey the prospective nature of events or outcomes generally indicate forward-looking statements. You should not place undue reliance on these forward-looking statements, which speak only as of this press release. Unless legally required, we undertake no obligation to update, modify or withdraw any forward-looking statements, because of new information, future events or otherwise.
Global Tech Industries Group, Inc.
511 Sixth Avenue, Suite 800
New York, NY 10011