Bankruptcy: GLOBAL TECH INDUSTRIES GROUP, INC.

Form Type: 8-K

Filing Date: 2025-05-27

Corporate Action: Bankruptcy

Type: New

Accession Number: 000164117225012534

Filing Summary: On May 27, 2025, Global Tech Industries Group, Inc. reported that in a case styled White Rocks (BVI) Holdings Inc., et al., v. Reichman, et al., a Receivership Order was entered by the Clark County, Nevada District Court appointing Paul L. Strickland as receiver of the Company. The Receiver subsequently filed an Omnibus Objection regarding shares deemed illicit, seeking to bar transfers of these shares and establish procedures for their designation. The Court has not yet acted on this filing.

Form Type: 8-K

Filing Date: 2025-05-19

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000164117225011303

Filing Summary: Global Tech Industries Group, Inc. has filed a Current Report on Form 8-K regarding the appointment of a receiver due to a court-ordered receivership. The court in Clark County, Nevada, appointed Paul L. Strickland as the receiver for the company on September 18, 2024. This event follows ongoing legal proceedings as disclosed in a prior 8-K filing on October 28, 2024. The receiver filed a Fourth Interim Report, dated May 16, 2025, which is attached as an exhibit in this report, detailing the current status and actions taken under the receivership.

Form Type: 8-K

Filing Date: 2025-05-06

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000164117225008883

Filing Summary: On May 6, 2025, Global Tech Industries Group, Inc. disclosed significant developments concerning ongoing legal and financial challenges. A Receivership Order was issued on September 18, 2024, appointing Paul L. Strickland as the receiver for the company due to a legal case involving White Rocks (BVI) Holdings Inc. The receiver has filed a Motion to establish procedures for managing claims against the company's assets, including a deadline for filing claims and permitting notice via mail and publication. As of the filing date, the court has not yet acted on this motion, indicating ongoing complications in the company's legal proceedings and financial status.

Form Type: NT 10-K

Filing Date: 2025-04-01

Corporate Action: Bankruptcy

Type: New

Accession Number: 000164117225002022

Filing Summary: Global Tech Industries Group, Inc. is unable to file its Form 10-K for the year ended December 31, 2024, timely due to delays in completing its year-end reporting process. The delays are attributed to the appointment of a Court-Appointed Receiver for the Company. This situation has necessitated extended timelines to complete financial reporting procedures. The Company anticipates significant changes in its results of operations and balance sheet compared to the prior year, although specific quantifications of those changes cannot be provided at this time due to the ongoing receiver's assessment.

Form Type: 8-K

Filing Date: 2025-01-15

Corporate Action: Bankruptcy

Type: Update

Accession Number: 000149315225002354

Filing Summary: On January 15, 2025, Global Tech Industries Group, Inc. reports an update regarding the receivership status of the company. An order was issued by the Clark County, Nevada, District Court, appointing Paul L. Strickland as the receiver following a case titled White Rocks (BVI) Holdings Inc., et al., v. Reichman, et al. The Receivership Order was presented in a report dated January 14, 2025, which is incorporated by reference into this Current Report. This event indicates that the company is undergoing a significant financial restructuring due to its current circumstances.