Global Tech Industries Group Inc. (OTCMKTS:GTII) Stock In Focus As Company Officially Acquires Classroom Salon

Shares of Global Tech Industries Group Inc. (OTCMKTS:GTII) have been trading within a narrow range over the past few sessions.

Market Stats

On Monday, GTII stock moved up 3.20% to $24.87 with more than 10 shares, compared to its average volume of 280k shares.

Global Tech Industries Group, Inc’s. completes acquisition of Classroom Salon, LLC.

Global Tech Industries Group, Inc. (OTCMKTS:GTII) has announced that Classroom Salon, LLC has successfully completed the requisite audit of its financial statements, on February 28, 2022. Classroom Salon has also delivered Amended and Restated License Agreement with Carnegie Mellon University.

All purchase and assignment agreements were executed by members of Classroom Salon, including Carnegie Mellon University, in partnership with whom the Classroom Salon software was originally developed. Classroom Salon is now a wholly-owned subsidiary of Classroom Holdings, which is a wholly-owned subsidiary of Global Tech Industries Group.

Tommy Wang, Classroom Salon’s President, thanks the teams at both Global Tech and Classroom Salon, who have worked hard to ensure this partnership sees the light of day. They aim to introduce an education ecosystem that can be operated in a fully virtual environment. Students and educators will benefit immensely from this type of experience.

David Reichman, Global Tech’s Chief Executive Officer, is quite pleased that the deal has been officially closed. He states that the team will now shift its focus and efforts on introducing Classroom Salon’s software to a wider audience and larger client base. The benefits of virtual learning through its workflows and algorithms are vast, and the company looks forward to be a part of it.

Key Quote

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.”

Traders Corner

GTII stock is trading below the 20-Day and 50-Day Moving averages of $1.36 and $1.49 respectively. Moreover, the stock is trading below the 200-Day moving average of $1.39.