Thomasville, GA - (NewMediaWire) - August 23, 2022 - GGTOOR, Inc., (OTCMKTS:GTOR) (“GGTOOR, Inc.,”, “GTOR”, or the “Company”), an emerging leader in the eSports markets, announces the Company has received notice from its independent auditor that audits are nearing completion.
Chris Hiestand, CPA, owner of Accell Audit and Compliance of Tampa, Florida, had this to say about leaving the $102,300,000 purchase of virtual property in TCG.World on the balance sheet as an asset: “As I mentioned, Meta, along with Crypto and Cannabis, is considered a high-risk industry, from the regulators anyway, and is under heavy scrutiny from the SEC. I believe the transaction you sent us a couple of days ago, the $7.2 Million Nerdland LLC transaction, calls for settlement within 30 days. Since that is the largest and most significant transaction, we would like to see them complete the purchase by making payment before we make a final decision to sign off that we will support the $100+ million remaining as an asset on May 31, 2022, year end. Based on what we know today, we are inclined to support the $102,300,000 purchase remaining as an asset. We should be able to get wrapped up the last week of August or so and plan to issue the audit no later than September 16, 2022, assuming the above transaction settles by then.”
John V Whitman Jr., GGToor CEO, had this to say, “I knew from the start that the auditors would have a challenging time allowing the Company to book our purchase of virtual property as an asset. Accell has done a significant amount of research and has discovered many sales that support the price GGToor paid for the virtual properties, however they have not confirmed the asset will remain although they have said they agree with Tom Bellante, GGToor’s CFO and A-Frame Accounting; so far they have found no reason that it would not remain an asset. If Nerdland LLC. renders payment of $7.2 million, the likelihood is the $102,300,000 remains on the books as an asset; if they fail to pay, it will be much more difficult for the auditors to leave the asset on the balance sheet. I am sure shareholders and those eagerly waiting on this information will be satisfied and anxious as we all wait for Nerdland LLC. to meet their obligation.”
This week, the Company offered four events. The Company’s monthly events for Magic: the Gathering arena and Legends of Runeterra, along with the next event in our regular series for Super Smash Brothers Ultimate and Yu-Gi-Oh! Duel Links - saw 50 more people register for this weekend's event compared to the last in the series- and we expect to see numbers continue to grow for future events!
As the Company grows into an eSports powerhouse, the company social media presence provides both a synchronous and an asynchronous way of staying up to date on eSports and in touch with other fans. The beautiful thing is that social media doesn’t care about time zones, e.g. games in other time zones, and becomes a hub for eSports activity and conversation. It’s also common for fans to follow live streams and tournaments and simultaneously interact with other fans and gamers on social media. Social media is the most essential part of eSports as the matches between top teams are broadcast live on platforms like YouTube Gaming, Twitch or Facebook. Therefore, the Company is making people aware of the broadcast schedule on its social media channels and on GGToor.com. Social Media is one of the key elements to the success of our events.
Management is asking every shareholder to go to our social media accounts and like, subscribe and share our posts and videos. Social Media numbers are important and higher numbers will make a significant difference. Social media platforms promote content based on their algorithms. This is a way for you to help us and help yourself as a stockholder for obvious reasons. You’ll be thanking yourself.
Want to participate? If you want to bring your team or friends to GGToor.com or be a Tournament Organizer, we can support you and help you grow; you can reach a worldwide audience of similar-minded individuals that like to compete and have fun! You can be sure that GGToor.com is here to grow with you. Just follow the link to sign up as an organizer https://GGToor.com/organizerlogin.php If you have any questions about our events visit our socials; Discord https://discord.gg/GUhyZxFH8Q, Twitter https://twitter.com/GGToor/, twitch https://www.twitch.tv/GGToor, Facebook: https://www.facebook.com/gaming/eShadowGaming and Youtube: https://www.youtube.com/channel/UCTcWVwGhX2XnjB6bn5_3jnw
GGTOOR, Inc., is engaged in the business of eSports. The Company is aggressively entering the Metaverse by having purchased enough virtual land, 4,144 parcels, to form its own virtual city that will be called GGTOORCITY. The Company has held over two hundred sixty video game tournaments and has given away over $100,000 in cash and prizes. GGToor.com is continually being customized and upgraded, with the goal of becoming one of the most comprehensive gaming portals in the world. The Company is now accepting subscriptions from players, gamers, and tournament organizers. To register logon to https://GGToor.com/home.php .
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend all forward-looking statements to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally can be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking words such as “expect,” “expectation,” “believe,” “anticipate,” “may,” “could,” “intend,” “belief,” “plan,” “estimate,” “target,” “predict,” “likely,” “seek,” “project,” “model,” “ongoing,” “will,” “should,” “forecast,” “outlook” or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/ or projections as well as our perception of historical trends and current conditions, as well as other factors that we believe are appropriate and reasonable under the circumstances. Forward-looking statements are neither predictions nor guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by those statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to the future earnings and performance or capital structure of GGTOOR, Inc.
For Additional Information Contact:
John V Whitman Jr.,
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