World Tech Industries Group Inc (OTCQB: GTII) acquires and develops property from a variety of industries. Its portfolio at the moment contains companies and applied sciences throughout the inexperienced know-how, IT, and healthcare industries. GTII inventory just lately ran to its all time excessive of $8.98 on hypothesis of a doable quick squeeze. The corporate has shared stories of bare shorting previously which contributed buyers’ suspicions {that a} quick squeeze could possibly be triggered. Though, the inventory dropped to its assist stage after reaching this all time excessive, the buying and selling quantity for GTII inventory continues to be greater than 4 instances its common quantity.
GTII Inventory Information
For a lot of this 12 months, GTII has been trying to offer a crypto dividend to its shareholders. Within the strategy of issuing this dividend of Shiba Inu, GTII seems to have turn into conscious of anomalies between what the shareholders’ of document had reported and what was held in brokerage accounts, recorded on the NOBO listing, and held at DTCC. In the end, FINRA didn’t conform to GTII’s request to pay a digital dividend as a result of the DTCC was unable to distribute the dividend to a major variety of its shareholders holding shares in CEDE & Co. Nonetheless, the anomalies discovered within the dividend course of seem to have delivered to gentle a bigger drawback.
Since June, GTII has alleged that the corporate has been the sufferer of constant bare quick promoting. The corporate shared that it could search to guard shareholders’ pursuits by contacting FINRA and requesting an investigation into the matter. On the time GTII reported that sure market makers had didn’t put up common or steady proprietary quotations which led them to request a overview of their market making exercise with reference to GTII’s shares.
It was round this time that GTII issued a warning to shareholders concerning misinformation on social media. Because the firm has no official social media presence, buyers had been suggested to depend on data offered in its monetary filings and on its web site. The rationale for this announcement seemed to be social media posts suggesting that the bare shorting was partly attributable in a roundabout way to Mr. Curt Kramer and Mr. Seth Kramer.
Convertible Debenture Word Settlement
Whereas GTII clarified that it had “no particular proof” that any particular person or entity was contributing to its alleged bare shorting drawback, the corporate’s CEO – David Reichman – shared that it had entered right into a convertible debenture word settlement with Geneva Roth Comment Holdings which is owned by Curt Kramer. Nonetheless, this word had been paid off by GTII in 2020 and the reserved inventory was launched by Mr. Kramer in March 2021.
The connection to Curt Kramer and Seth Kramer is among the causes for GTII’s rally as many buyers consider GTII has been unfairly shorted because of this. In 2013, Curt Kramer was charged by the SEC for violating federal securities legal guidelines by his companies – Mazuma Company, Mazuma Funding Company, and Mazuma Holding Company. By way of his companies, Kramer obtained unregistered shares in penny inventory issuers Laidlaw Vitality Group and Bederra Company. Nonetheless, he didn’t register his shares and surpassed the restrict below Rule 504 of Regulation D which permits sure corporations to supply and promote as much as $1 million in unregistered shares.
Since these shares weren’t exempt from the registration necessities once they had been re-sold, Kramer and his Mazuma companies violated the legislation by promoting billions of shares available on the market at a revenue. Because of this he was required to pay $1.4 million to settle the SEC’s costs.
Curt Kramer’s brother, Seth Kramer, seems to have an identical popularity after reportedly taking part in a mortgage fraud conspiracy in 2007 utilizing the HUD-approved lender Cambridge Dwelling Capital LLC to orchestrate the scheme.
Nonetheless, Seth and Curt Kramer are seemingly finest recognized within the penny inventory world the place their varied corporations have been named in allegations made by HPIL Holding (OTC: HPIL) and VNUE Inc. (OTC: VNUE).
In HPIL’s lawsuit the corporate describes Energy Up Lending Group, Ltd. as an “unregistered securities supplier that engages in convertible market adjustable securities transactions with small public corporations” struggling to boost capital. The lender is then capable of acquire shares at a steep low cost and promote these shares on the open market at a revenue.
HPIL alleged that Energy Up Lending Group is working as an unregistered securities supplier in violation of the SEC’s guidelines including that its prior transactions with Energy Up Lending Group, Ltd. had been seemingly illegal in accordance with state and federal legislation. Its administration added that it could search to establish and pursue individuals in unlawful buying and selling exercise of its inventory going ahead.
Equally, VNUE has filed a lawsuit in opposition to Energy Up Lending Group, Ltd. hoping to rescind a number of convertible notes that had been made since it seems that the lender has been operating an “unlawful convertible word enterprise” for the previous few years.
VNUE’s CEO Zach Bair shared that by the corporate’s attorneys it had discovered that “they had been alleged to be unregistered sellers, making the most of dozens of small corporations like ours, and sure breaking the legislation within the course of”.
The affiliation made between GTII and Seth and Curt Kramer has led some to take a position that Energy Up Lending Group has been following the identical system that Asher Enterprises Inc – additionally owned by Curt Kramer – has been recognized to comply with.
The conversion ratios for some convertible notes permits the lender to transform their debt into free buying and selling shares at a reduction to the worst closing costs over a interval of buying and selling days. Some buyers consider this might give lenders a motive to quick GTII.
GTII Inventory Bare Brief Curiosity
It seems that as of September thirtieth, quick quantity accounted for 68% of the overall quantity for GTII inventory which has triggered hypothesis of a possible quick squeeze.
Enterprise Overview
In the meantime, the corporate itself has continued to develop its enterprise operations by its subsidiaries and associates.
By way of a inventory buy settlement, GTII introduced 4 optometry areas operated by Bronx Household Eye Care, Inc. below its umbrella in 2021. The corporate has additionally acquired an revolutionary software program platform with the know-how to watch and perceive college students’ reactions as they examine supplies to higher inform educators of their college students’ wants.
By way of its subsidiary – Trento Sources – GTII additionally owns a 40% curiosity within the non-public firm Inversiones Trento SpA. which develops and sells uncommon earth minerals in Chile. The corporate has 1,400 hectares of mining concessions in Chile with estimated reserves of over 1 million tons of uncommon earth minerals and iron.
Moreover, GTII owns a fantastic artwork assortment which incorporates an authentic Picasso etching from 1934 in addition to a gelatin silver print of Bianca Jagger created by Andy Warhol. Not too long ago, GTII accomplished a share change with Wildfire Media Corp. which is a authorized advertising and marketing firm aiding companies in shopper acquisition analysis, media planning and different companies.
@AvidTrader_ was one of many first to convey to gentle GTII’s affiliation with Geneva Roth Comment Holdings to gentle
Technical Evaluation
GTII inventory held its $4.64 assist and will retest the 50 MA on a pullback. To date the wicks have examined the 50 MA twice which could possibly be an indication of development weakening. Nonetheless, if the inventory assessments the 50 MA and has a robust rebound, this could possibly be affirmation of the development’s continuation. The amount bars have gotten weaker which could possibly be an indication of slowing momentum for GTII inventory as effectively. If GTII inventory is ready to break by yesterday’s excessive at $5.83 this might kind the construction for greater highs and better lows.
Accumulation has remained robust regardless of the pullback and the RSI has cooled off at 52. The MACD is bearish to the upside as effectively. Since these indicators have reset, there’s room for GTII inventory to proceed its run however with out a catalyst or announcement from the corporate’s administration, there will not be sufficient quantity to push the inventory previous its resistance .
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GTII Inventory Forecast
Whereas GTII is diversified throughout a number of totally different industries, the inventory will not be operating on fundamentals. The corporate has commented on its excessive quick quantity which was the set off for investor’s curiosity within the inventory. Whether or not a brief squeeze materializes stays to be seen, however within the long-run GTII inventory will seemingly drop again to its earlier highs of $2 and under with out extra catalysts. If the corporate is intent on concentrating on the perpetrators of what it believes to be bare shorting, then GTII may start a share buyback in an try to precisely find all the firm’s shares. Though the corporate tried a dividend for shareholders previously, it has not talked about any plans for a share buyback.
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