Global Tech Industries Group, Inc. announced today that it has taken back twenty million shares of its common stock from the AI Commerce Group due to the latter’s failure to meet the agreed-upon deliverables. The AI Commerce Group had entered into a Membership Interest Purchase Agreement with GTII in August 2023. However, as AI did not fulfill its obligations as per the agreement, the transaction has been terminated, and AI no longer has any claim to the GTII Common Stock.
GTII, a Nevada-based publicly traded company, focuses on acquiring new and innovative technologies. The return of the shares to the company treasury marks the end of the deal with the AI Commerce Group.
This move underscores the importance of adhering to agreements and fulfilling commitments in the business world. GTII’s decision to reclaim the shares highlights the company’s commitment to upholding the terms of its agreements.
Moving forward, GTII will continue its pursuit of new and cutting-edge technologies in line with its business objectives and growth strategy. The company remains focused on finding opportunities that will drive revenue and profitability in the future.
The announcement serves as a reminder of the risks and uncertainties associated with business dealings and the importance of due diligence in forming partnerships. GTII’s decision to return the shares demonstrates its dedication to transparency and integrity in its operations.
In conclusion, GTII’s action to reclaim the shares from the AI Commerce Group underscores the company’s commitment to upholding agreements and maintaining a strong business ethic. As GTII continues its journey of acquiring innovative technologies, this development serves as a valuable lesson in the world of business transactions.
