New York, NY, June 15, 2022 (GLOBE NEWSWIRE) — Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation, announced today that in light of the apparent consistent naked short selling of the Company’s shares, including Monday’s high-volume short selling at the market close ( https://shortvolume.com/?t=gtii ), the Company has taken, and intends to take, certain actions in an attempt to protect the interests of our shareholders.
First, the Company has contacted FINRA and requested that they fully investigate the matter. The Company intends to cooperate with FINRA in that regard.
Second, the Company will be contacting market makers in the Company’s shares and requesting that each of them review (1) their quoting and trading activity in GTII to determine whether they have been engaging in “bona fide market making” and (2) their firm’s current policies and procedures to ensure they are sufficient to assess whether their firm’s quoting and trading activity in GTII comport with its “bona fide market making” obligations.
The Company has become concerned with the market making activity in its shares as it appears that certain market makers have failed to post regular or continuous proprietary quotations (i.e., take risk positions) that are at or near the market on both sides and that are communicated and represented in a way that makes them widely accessible to investors and other broker-dealers. Their…
