Yesterday, Global Tech Industries Group Inc (OTCMKTS:GTII) was in the news after it made a significant new announcement with regards to the progress made in the auditing process of its books with regards to an acquisition.
On Tuesday, GTII stock lost 5.03% to $1.7000 with more than 634.61K shares, compared to volume of 1.90 million shares. The stock moved within a range of $1.6500 – 1.8000 after opening trade at $1.7900.
Global Tech Industries Group, Inc. and Wildfire Media Corp’s PCAOB audit teams meet with Management to Discuss Audit Report
The company announced yesterday that it had been informed by Wildfire Media Corp had informed that the two year PCOAB audit was going to be completed shortly within the coming two weeks. Once that is completed, Wildfire would start the audit for the 2022 financial year. Both Global Tech Industries Group and Wildfire had earlier reached an agreement to complete the acquisition at some point on or prior to April 1, 2023.
The Chief Executive Officer of Global Tech Industries Group David Reichmann spoke about the development as well. He noted that that everyone at Global Tech Industries Group was pleased at the fact that Wildfire was finally completing the audit of its 2020 and 2021 financials. He went on to note that he was looking forward to getting his hands on the audit report in the coming few weeks.
However, he was quick to point out that since Wildfire was a private entity and not a public one, it was natural for the process to take a bit longer.