$GTII
GLOBAL TECH INDUSTRIES GROUP, INC.

2023 Q3 Form 10-Q Financial Statement

#000149315223028169 Filed on August 14, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $1.510M $7.404M $608.4K
YoY Change 36.56% 1117.0% -55.59%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $267.00 $267.00 $268.00
YoY Change 0.0% -0.37% 0.37%
% of Gross Profit
Operating Expenses $2.083M $7.405M $981.2K
YoY Change 40.89% 654.67% -28.39%
Operating Profit -$2.083M -$7.405M -$981.2K
YoY Change 40.89% 654.67% -28.39%
Interest Expense $1.500K $14.00K $12.29K
YoY Change -87.61% 13.91% -4.77%
% of Operating Profit
Other Income/Expense, Net $2.090M -$26.00K $3.652K
YoY Change -734.98% -811.91% -98.64%
Pretax Income $6.699K -$7.431M -$977.5K
YoY Change -100.37% 660.15% -11.3%
Income Tax
% Of Pretax Income
Net Earnings $6.699K -$7.431M -$977.5K
YoY Change -100.37% 660.15% -11.3%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 -$0.02 $0.00
Diluted Earnings Per Share $0.00 -$0.02 -$3.802K
COMMON SHARES
Basic Shares Outstanding 346.1M shares 345.3M shares 257.1M shares
Diluted Shares Outstanding 325.2M shares 334.2M shares 257.1M shares

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.880M $4.040M $454.7K
YoY Change 749.71% 788.5% 9.62%
Cash & Equivalents $2.850M $4.012M $354.7K
Short-Term Investments $30.00K $28.00K $100.0K
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $0.00
Other Receivables $0.00
Total Short-Term Assets $2.877M $4.040M $454.7K
YoY Change 748.7% 788.5% 9.62%
LONG-TERM ASSETS
Property, Plant & Equipment $0.00 $267.00 $1.339K
YoY Change -100.0% -80.06% -44.44%
Goodwill
YoY Change
Intangibles $14.99M $14.99M $12.89M
YoY Change 0.0% 16.27%
Long-Term Investments
YoY Change
Other Assets $14.99M $14.99M $12.96M
YoY Change -0.45% 15.67%
Total Long-Term Assets $14.99M $14.99M $12.96M
YoY Change -0.46% 15.66% 17124.42%
TOTAL ASSETS
Total Short-Term Assets $2.877M $4.040M $454.7K
Total Long-Term Assets $14.99M $14.99M $12.96M
Total Assets $17.87M $19.03M $13.42M
YoY Change 16.03% 41.85% 2637.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.210M $2.766M $1.859M
YoY Change -5.58% 48.81% 82.64%
Accrued Expenses $0.00 $437.5K $398.7K
YoY Change -100.0% 9.72% 9.73%
Deferred Revenue
YoY Change
Short-Term Debt $440.0K $1.306M $871.1K
YoY Change -49.49% 49.94% 0.0%
Long-Term Debt Due $180.0K $180.0K $126.5K
YoY Change 0.0% 42.31%
Total Short-Term Liabilities $2.826M $5.765M $3.255M
YoY Change -25.61% 77.1% 20.66%
LONG-TERM LIABILITIES
Long-Term Debt $4.790M $4.788M $4.842M
YoY Change 0.04% -1.11%
Other Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
Total Long-Term Liabilities $4.788M $4.788M $4.842M
YoY Change 0.0% -1.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $2.826M $5.765M $3.255M
Total Long-Term Liabilities $4.788M $4.788M $4.842M
Total Liabilities $7.614M $10.55M $8.097M
YoY Change -11.33% 30.33% 200.15%
SHAREHOLDERS EQUITY
Retained Earnings -$327.7M -$327.7M -$236.3M
YoY Change 37.62% 38.67%
Common Stock $347.8K $345.5K $257.5K
YoY Change 34.63% 34.19%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $10.25M $8.477M $5.319M
YoY Change
Total Liabilities & Shareholders Equity $17.87M $19.03M $13.42M
YoY Change 16.03% 41.85% 2637.91%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income $6.699K -$7.431M -$977.5K
YoY Change -100.37% 660.15% -11.3%
Depreciation, Depletion And Amortization $267.00 $267.00 $268.00
YoY Change 0.0% -0.37% 0.37%
Cash From Operating Activities -$90.00K -$590.4K $58.07K
YoY Change -69.68% -1116.65% -169.56%
INVESTING ACTIVITIES
Capital Expenditures $0.00
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 $27.37K
YoY Change -100.0%
Cash From Investing Activities $0.00 $0.00 $27.37K
YoY Change -100.0% -137.57%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.070M 335.0K -80.61K
YoY Change -579.56% -515.58% -160.02%
NET CHANGE
Cash From Operating Activities -90.00K -590.4K 58.07K
Cash From Investing Activities 0.000 0.000 27.37K
Cash From Financing Activities -1.070M 335.0K -80.61K
Net Change In Cash -1.160M -255.4K 4.830K
YoY Change 1473.73% -5387.16% -121.93%
FREE CASH FLOW
Cash From Operating Activities -$90.00K -$590.4K $58.07K
Capital Expenditures $0.00
Free Cash Flow $58.07K
YoY Change -646.28%

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us-gaap Issuance Of Stock And Warrants For Services Or Claims
IssuanceOfStockAndWarrantsForServicesOrClaims
1591098 usd
GTII Imputed Interest On Loan
ImputedInterestOnLoan
6720 usd
GTII Imputed Interest On Loan
ImputedInterestOnLoan
6720 usd
us-gaap Debt Securities Gain Loss
DebtSecuritiesGainLoss
28150 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
50000 usd
us-gaap Gain Loss On Disposition Of Assets
GainLossOnDispositionOfAssets
22291 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-8000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-63000 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
10972 usd
us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
8459 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
251314 usd
us-gaap Increase Decrease In Other Accounts Payable And Accrued Liabilities
IncreaseDecreaseInOtherAccountsPayableAndAccruedLiabilities
615179 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
20678 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
63920 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-788602 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
93193 usd
us-gaap Payments For Proceeds From Previous Acquisition
PaymentsForProceedsFromPreviousAcquisition
183933 usd
GTII Payments To Acquire Gti Acquisition
PaymentsToAcquireGTIAcquisition
-2373 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
50000 usd
us-gaap Proceeds From Sale Of Productive Assets
ProceedsFromSaleOfProductiveAssets
25000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
50000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-156560 usd
GTII Proceeds From Share Holder Advance
ProceedsFromShareHolderAdvance
1075000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
355000 usd
us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
50000 usd
us-gaap Proceeds From Warrant Exercises
ProceedsFromWarrantExercises
8875 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
1430001 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
58875 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
691399 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-4492 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
3320164 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
359143 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
4011563 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
354651 usd
us-gaap Stock Issued1
StockIssued1
10000 usd
GTII Common Stock Issued For Debtaccruwed Interest And Accrued Expenses
CommonStockIssuedForDebtaccruwedInterestAndAccruedExpenses
1075077 usd
GTII Stock Released From Escrow For License Acquisition Net Of Debt
StockReleasedFromEscrowForLicenseAcquisitionNetOfDebt
7920090 usd
GTII Stock Dividend
StockDividend
31027 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84B_eus-gaap--UseOfEstimates_z3cacuwC18H1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">B) <span id="xdx_867_zlq0tSX18NN3">USE OF MANAGEMENT’S ESTIMATES</span></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black">The preparation of financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of revenues and expenses during the reported period. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; color: Black"> </span></p>
CY2023Q2 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
250000 usd
CY2023Q2 us-gaap Cash
Cash
4011563 usd
CY2022Q4 us-gaap Cash
Cash
3320164 usd
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
-7430739 usd
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-977531 usd
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
334234875 shares
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
257142064 shares
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.02
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.02
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.00
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.00
us-gaap Net Income Loss
NetIncomeLoss
-80017796 usd
us-gaap Net Income Loss
NetIncomeLoss
-2205903 usd
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
314834287 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
256507508 shares
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.01
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.01
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-8000 usd
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
-63000 usd
us-gaap Depreciation
Depreciation
536 usd
us-gaap Depreciation
Depreciation
1161 usd
us-gaap Cost Of Goods And Services Sold Depreciation
CostOfGoodsAndServicesSoldDepreciation
3214 usd
CY2023Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3214 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
3214 usd
CY2023Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2947 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
2411 usd
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
267 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
803 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
2373 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Indefinite Lived Intangible Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIndefiniteLivedIntangibleAssets
14990277 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Accounts Payable
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesAccountsPayable
6388 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Current Liabilities Long Term Debt
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCurrentLiabilitiesLongTermDebt
4968177 usd
CY2023Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedNet
10018085 usd
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
72059 usd
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
48059 usd
CY2023Q2 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
871082 usd
CY2022Q4 us-gaap Debt Instrument Face Amount
DebtInstrumentFaceAmount
871082 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
24398 usd
us-gaap Interest Expense Debt
InterestExpenseDebt
24398 usd
CY2023Q2 us-gaap Interest Payable Current
InterestPayableCurrent
437452 usd
CY2022Q4 us-gaap Interest Payable Current
InterestPayableCurrent
416774 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
24398 usd
us-gaap Interest Expense Long Term Debt
InterestExpenseLongTermDebt
24398 usd
CY2022Q4 us-gaap Notes Payable
NotesPayable
50000 usd
CY2022Q4 us-gaap Debt Instrument Term
DebtInstrumentTerm
P12M
CY2022Q4 us-gaap Notes Payable
NotesPayable
30000 usd
CY2022Q4 us-gaap Debt Instrument Term
DebtInstrumentTerm
P12M
CY2023Q1 us-gaap Notes Payable
NotesPayable
20000 usd
CY2023Q1 us-gaap Debt Instrument Term
DebtInstrumentTerm
P12M
CY2023Q2 us-gaap Loans Payable
LoansPayable
4968177 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
187388 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
487480 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
794133 usd
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
1107489 usd
CY2023Q2 GTII Long Term Debt Maturities Repayments Of Principal After Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearThree
2391687 usd
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
4968177 usd
GTII Imputed Interest On Loan
ImputedInterestOnLoan
6720 usd
GTII Imputed Interest On Loan
ImputedInterestOnLoan
6720 usd
CY2021Q3 GTII Stock Issued During Period Shares Relief And Relinguishment
StockIssuedDuringPeriodSharesReliefAndRelinguishment
150000 shares
CY2021Q3 GTII Stock Issued During Period Shares Restrictive Legends
StockIssuedDuringPeriodSharesRestrictiveLegends
6000000 shares

Files In Submission

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gtii-20230630_def.xml Edgar Link unprocessable
0001493152-23-028169-index-headers.html Edgar Link pending
0001493152-23-028169-index.html Edgar Link pending
0001493152-23-028169.txt Edgar Link pending
0001493152-23-028169-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex31-2.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
gtii-20230630.xsd Edgar Link pending
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FilingSummary.xml Edgar Link unprocessable
gtii-20230630_lab.xml Edgar Link unprocessable
gtii-20230630_pre.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
gtii-20230630_cal.xml Edgar Link unprocessable