Global Tech Industries Group, Inc. (GTII) Financial Statements (2023 and earlier)

Company Profile

Business Address 511 SIXTH AVENUE, SUITE 800
NEW YORK, NY 10011
State of Incorp. NV
Fiscal Year End December 31
Industry (SIC) 8741 - Management Services (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments5223345139297156
Cash and cash equivalents35921812141
Short-term investments1633144131176115
Receivables79     
Inventory, net of allowances, customer advances and progress billings291     
Inventory291     
Prepaid expense 222   130
Total current assets:89225645139297286
Noncurrent Assets
Operating lease, right-of-use asset834  
Property, plant and equipment1133  02
Long-term investments and receivables   52  
Long-term investments   52  
Other noncurrent assets3,959     
Total noncurrent assets:4,9053 5202
TOTAL ASSETS:5,79725945191297288
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:7916117312,4331,666860
Interest and dividends payable388358609567482396
Other undisclosed accounts payable and accrued liabilities4032531221,8661,183465
Debt9229462995671,884396
Asset retirement obligation   101  
Due to related parties 434 355192135
Other undisclosed current liabilities2,126421,1812,0207121,923
Total current liabilities:3,8392,0332,2125,4764,4543,315
Noncurrent Liabilities
Long-term debt and lease obligation707     
Long-term debt, excluding current maturities147     
Operating lease, liability560  
Liabilities, other than long-term debt  3,540   
Due to related parties  3,540   
Other undisclosed noncurrent liabilities(560)     
Total noncurrent liabilities:707 3,540   
Total liabilities:4,5462,0335,7525,4764,4543,315
Stockholders' equity
Stockholders' equity attributable to parent1,251(1,774)(5,706)(5,286)(4,157)(3,026)
Preferred stock000000
Common stock256230205171156125
Additional paid in capital235,151168,399161,713160,739158,514158,006
Accumulated other comprehensive income   10414988
Accumulated deficit(234,156)(170,403)(167,625)(162,886)(160,003)(158,369)
Unearned esop shares   (3,414)(2,973)(2,876)
Total stockholders' equity:1,251(1,774)(5,706)(5,286)(4,157)(3,026)
TOTAL LIABILITIES AND EQUITY:5,79725945191297288

Income Statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues249472 92 
Gain on disposition of assets for financial service operations  472 
Other income    92 
Cost of revenue
(Cost of Goods and Services Sold)
(5)    (0)
Gross profit:199472 92(0)
Operating expenses(6,151)(2,573)(1,862)(2,780)(1,622)(7,997)
Other undisclosed operating income (loss)  (472) (92)30
Operating loss:(6,132)(2,565)(1,862)(2,780)(1,622)(7,967)
Nonoperating income (expense)69(214)433(103)(12)(107)
Interest and debt expense(63)(201)(472)(100)(103)(100)
Other undisclosed income from continuing operations before equity method investments, income taxes   100103100
Loss from continuing operations before equity method investments, income taxes:(6,126)(2,979)(1,901)(2,883)(1,634)(8,074)
Other undisclosed income from continuing operations before income taxes63201472   
Net loss available to common stockholders, diluted:(6,063)(2,778)(1,429)(2,883)(1,634)(8,074)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(6,063)(2,778)(1,429)(2,883)(1,634)(8,074)
Comprehensive loss:(6,063)(2,778)(1,429)(2,883)(1,634)(8,074)
Other undisclosed comprehensive income (loss), net of tax, attributable to parent   (45)6111
Comprehensive loss, net of tax, attributable to parent:(6,063)(2,778)(1,429)(2,928)(1,573)(8,063)

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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