GLOBAL TECH INDUSTRIES GROUP, INC. Material Event - What Happened

Hey there! Let's break down what's going on with Global Tech Industries Group, Inc. in a way that makes sense, without all the confusing business talk. Think of this as me explaining a news story to you over coffee.

---

1. What happened? (The actual event, in plain English)

Okay, so here's the deal: Global Tech Industries Group (GTII) just got rid of one of its subsidiaries, a company called Gold Transaction International, Inc. (GTI Gold). This wasn't a typical sale; it was a forced move by a court-appointed manager, known as a "Receiver," who is currently overseeing GTII's operations. The ownership of GTI Gold was assigned to Todd Chisholm, who was already its manager.

2. When did it happen?

This all went down on December 29, 2025, at 5:00 p.m. EST. The official report about it came out on January 5, 2026.

3. Why did it happen? (The backstory and reasons)

So, why did Global Tech do this? Well, this isn't a normal business decision. GTII is currently under the control of a court-appointed "Receiver," Paul L. Strickland. He was put in charge back on September 18, 2024, because of a lawsuit (White Rocks (BVI) Holdings Inc., et al., v. Reichman, et al.) in Nevada.

The Receiver has special powers granted by the court. Specifically, he's authorized to undo any transfers or contracts that were made illegally or fraudulently, and to claw back any wrongful payments or transfers made to management or related parties. The Receiver determined that getting rid of GTI Gold was necessary, strongly suggesting that the original transfer or ownership of GTI Gold was considered problematic or "wrongful" by the Receiver.

4. Why does this matter? (The "so what?" for everyone)

This isn't just some boring corporate announcement; it actually changes things for Global Tech and potentially for us.

This is a big deal because it shows that GTII is still dealing with serious legal issues and past problems. When a company is under the control of a Receiver, it means a court believes there were significant issues that needed external intervention. This divestiture isn't about GTII strategically growing or shrinking; it's about the Receiver cleaning up what he believes were improper past transactions. It signals ongoing instability and potential past misconduct within the company.

5. Who is affected? (Employees, customers, investors, etc.)

Let's break down who might feel this the most:

• Employees:
  • Employees at GTI Gold are now under different ownership (Todd Chisholm). For GTII employees, this situation likely creates uncertainty about the company's future and stability, as it highlights ongoing legal troubles.
• Customers:
  • Customers of GTI Gold might see changes depending on how the new ownership operates. Customers of GTII might not be directly affected by this specific divestiture, but the overall situation of the company being under receivership could lead to disruptions down the line.
• Investors (people who own stock):
  • This is generally negative news for investors. It confirms that GTII is facing significant legal challenges and that its assets are being restructured by a court-appointed official, not by the company's own management. Losing a subsidiary, especially under these circumstances, typically reduces the company's value and increases uncertainty, which can lead to a drop in stock price. It also suggests potential financial liabilities related to the past "wrongful" actions.

6. What happens next? (Immediate and future implications)

So, what's the game plan from here? We can expect to see a few things happen in the short term and over the longer haul.

Immediately, GTI Gold is no longer part of GTII. The Receiver will continue to oversee GTII's operations and likely continue to investigate and rectify other past transactions that he deems "illegal or fraudulent." The legal case that led to the receivership is still ongoing, and GTII's future remains uncertain as long as it's under court control. This divestiture doesn't clear GTI Gold or its former managers from potential claims related to past issues.

7. What should investors/traders know? (Practical takeaways)

If you own shares of Global Tech, or you're thinking about it, here's what you might want to keep in mind:

This event is a strong indicator of serious governance and legal issues within GTII. The company is under court supervision, and its assets are being managed by a Receiver who is actively undoing past transactions. This creates a high level of uncertainty and risk for investors. While the Receiver's actions might be aimed at cleaning up the company, the process itself is disruptive and suggests significant underlying problems. It's a "buyer beware" situation, and careful monitoring of the ongoing legal proceedings and the Receiver's actions is crucial.

---

Hopefully, that helps you understand what's going on with Global Tech Industries Group, Inc. and why it matters!