GGTOOR Inc (OTCMKTS:GTOR) Stock Attempts To Recover After Recent Fall
The eSports industry has grown by leaps and bounds over the course of the past few years and if you are looking for investment options then it may be a good move to take a closer look at GGTOOR Inc (OTCMKTS:GTOR), an emerging leader in the space.
Trading Data
On Wednesday, GTOR stock rose 5% to $0.0084 with more than 453.71K shares, compared to its average volume of 1.45 million shares. The stock moved within a range of $0.0076 – 0.0085 after opening trading at $0.0084.
GGTOOR, Inc. (OTCMKTS: GTOR) Announces Update on Nerdland Purchase and Tournament Results for the Week Ended October 29, 2022
Yesterday, the company was in focus after it provided an update with regards to its acquisition of Nerdland LLC. The company announced yesterday that Steven Zacharias had reached an agreement by way of which all the royalties, scripts, character rights and similar properties which belong to him will be signed over to Nerdland. It was a major new development for GGTOOR considering the fact that Zacharias stated yesterday that the assets command a valuation in the range between $10 million and $20 million.
However, that was not all. In addition to that, the company also provided a summary of the performance of its games in the month of October. GGTOOR announced that the month of October had been strong as the company had as many as nine winners in its tournaments. Perhaps more importantly, it announced that the games garnered total registrations of more than 2000 players.
Key Quote
John V Whitman Jr. has this to say: “I am very pleased that Mr. Zacharias has agreed to pledge some of his personal assets to aid in securing the loan. This becomes especially important in the event Nerdland LLC. fails to close within the timeframe agreed to or they close but later default on their payment obligations to GGToor. When we renegotiated the contract to purchase with Nerdland, I demanded that they agree to a ‘Forbearance’ of Nerdland LLC., and all its operations, assets, copyrights, patents, ideas, concepts, rights, and interests. GGToor has no desire for Nerdland LLC. to fail or not complete the purchase but if it does, having knowledge Nerdland LLC. will have real assets provides some degree of comfort our time and energy was not wasted. I have talked to the lender, and provided the appraisal of Mr. Zacharias’s assets is remotely close to what he personally values them, then he sees no reason they will not close the loan.”
Technical Data
GTOR stock is trading below the 20-Day and 50-Day Moving averages of $0.0109 and $0.0154 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0232.
