Current Report Filing (8-k)
March 24 2021 - 8:00AM
Edgar (US Regulatory)
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): March 24, 2021.
Global
Tech Industries Group, Inc.
(Exact
name of registrant as specified in its charter)
Nevada
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000-10210
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83-0250943
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(State
or Other Jurisdiction
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(Commission
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(I.R.S.
Employer
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of
Incorporation)
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File
Number)
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Identification
No.)
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511
Sixth Avenue, Suite 800 New York, NY 10011
(Address
of Principal Executive Offices) (Zip Code)
(212)
-204-7926
(Registrant’s
telephone number, including area code)
N/A
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions:
[
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Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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[
]
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Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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[
]
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Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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[
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Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(g) of the Act:
Title
of each Class
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Trading
Symbol
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Name
of each exchange on which registered
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Common
Stock
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GTII
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N/A
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter). Emerging growth company
[ ]
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for
complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]
Item
1.01 Entry into a Material Definitive Agreement.
On
March 21, 2021, Global Tech Industries Group, Inc., (“GTII” or the “Company”), a Nevada corporation,
signed a binding, letter agreement (the “Agreement”) with Bronx Family Eye Care, Inc. (“BFE”), a New York
corporation, engaged in the business of full scope optometry at its four primary locations, three of which are in
the Bronx, one of which is in Manhattan, New York, as well as at a fabrication facility in the Bronx. The Agreement was
signed and closed electronically on March 21, 2021. The two companies agreed to engage in a business combination such that BFE
will become a wholly owned subsidiary of GTII, and the shareholders of BFE (the “BFE shareholders”) will acquire two
million six hundred fifty thousand (2,650,000) shares of the common stock of GTII (the “GTII Common Stock”), subject
to the terms and conditions set forth in the Agreement herein. Further, the completion of a two-year audit of BFE, inclusive of
the starting balance sheet as of January 1, 2021 (the “Audited Financial Statements”), by an auditor that is subject
to the public corporation accounting oversight board (“PCAOB”), acceptable to GTII shall be a condition precedent
to GTII’s obligation (but not to BFE’s obligation) to Close the Transaction, waivable by GTII in its sole and absolute
discretion. As such, this Agreement is legally binding on the parties and will be in full force and effect as of the date on which
it is executed by duly authorized representatives of both GTII and BFE. This definitive, binding Agreement is intended by both
parties to close within thirty (30) days of the date by which the Agreement was executed.
Item
2.01 Completion of Acquisition or Disposition of Assets.
Reference
is hereby made to Item 1.01 for description and copy of the Agreement.
Item
9.01 Financial Statements and Exhibits.
(d)
Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
March
24, 2021
GLOBAL
TECH INDUSTRIES GROUP, INC.
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/s/
David Reichman
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By:
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David
Reichman
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Title:
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Chairman
and CEO
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EXHIBIT
INDEX
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