STOCKHOLDERS’ EQUITY (DEFICIT)

6 Months Ended

Jun. 30, 2022

Equity [Abstract]

STOCKHOLDERS’ EQUITY (DEFICIT)

NOTE 9 - STOCKHOLDERS’ EQUITY (DEFICIT)

ISSUANCES OF COMMON STOCK

During the six months ended June 30, 2022, and 2021, the Company issued 1,400,247 and 14,816,995 shares of common stock with a fair market value of $1,590,918 and $1,337,724, respectively, for services rendered. The services performed during the period were, legal, IR services, IT and consulting services for art procurement, medical advisory and service related to a 501c charitable organization. All services performed were from outside, unrelated third parties. The Company also issued 672,457 shares of common stock to pay off loans itemized in Note 8, accrued interest of $51,408 and payables of $80,000.

During the first six months of 2021, 3,916,995 shares were issued were for professional services to continue operating efforts fair market value of $1,263,474 and 750,000 shares were issued for donations fair market value of $74,250. In 2021, 6,000,000 shares of common stock with a grant date fair value of $7,920,090 was issued and held in escrow for a stock purchase agreement of Gold Transactions international, Inc. 4,150,000 shares were issued for the Bronx Family Eye Care acquisition and held in escrow.

GLOBAL TECH INDUSTRIES GROUP, INC.

Notes to the Unaudited Condensed Consolidated Financial Statements

June 30, 2022

STOCK OPTIONS

On December 19, 2020, in conjunction with the conversion of related party notes, accrued interest and compensation, the Company authorized the issuance of 4,500,664 stock options with the following features:

● One option allows for the purchase of one share of common stock

● The strike price of the option is $.01

● The conversion term is 2 years from issuance date

● All options are vested immediately

Stock option activity for the six months ended June 30, 2022, are as follows:

			Weighted		Weighted
			Average		Average		Aggregate
			Exercise		Remaining		Intrinsic
	Shares		Price		Term		Value
Outstanding at December 31, 2021		4,500,664	$	.01		1 yr	$	427,563
Granted		-		-		-		-
Exercised		-		-		-		-
Forfeited		-		-				-
Outstanding at June 30, 2022		4,500,664	$	.01		.75 yrs	$	427,563

GLOBAL TECH INDUSTRIES GROUP, INC.

Notes to the Unaudited Condensed Consolidated Financial Statements

June 30, 2022

WARRANTS

On March 22, 2021, GTII entered into a warrant agreement with Liberty Stock Transfer Agent (“Liberty”), whereby Liberty agreed to act as GTII’s warrant agent in its offering of warrants to GTII’s shareholders (each, a “Warrant”). All shareholders of record on April 1, 2021, were issued 0.10 of a Warrant per share of Common Stock held of record by such holder. This agreement created 23,364,803 warrants to the shareholders of the Company as a dividend valued at $57,689,800, and recorded as a decrease in retained earnings with the offsetting entry to paid in capital. The Warrants were issued on April 8, 2021. Each full Warrant shall be exercisable into one share of GTII’s common stock at an exercise price of $2.75. The Warrants shall expire on April 8, 2023. Manhattan Transfer Registrar Co. shall act as co-agent with Liberty. On July 27, 2021, the Company filed an Amended Registration Statement to register the warrants to be free trading when exercised.

	2021 Warrants
Assumptions:
Assumptions applicable to stock options issued
Risk-free interest rate	.25-	%
Expected lives (in years)	2-
Expected stock volatility	266-	%
Dividend yield	-

Warrant transactions are as follows:

				Weighted		Weighted
				Average		Average		Aggregate
				Exercise		Remaining		Intrinsic
	Shares			Price		Term		Value
Outstanding at January 1, 2021		23,364,803		$	2.75		2.0 yrs	$	57,689,800
Granted		-			-		-		(8,471	)
Exercised		(3,080	)		2.75		-		-
Forfeited		-			-		-		-
Outstanding at December 31, 2021		23,361,723		$	2.75-		.1.25 yrs-	$	57,681,330-
Granted		-			-		-		-
Exercised		(3,227	)		-		-		(8,875	)
Forfeited		-			-		-		-
Outstanding at June 30, 2022		23,358,496		$	2.75		..75 yrs	$	57,672,455

GLOBAL TECH INDUSTRIES GROUP, INC.

Notes to the Unaudited Condensed Consolidated Financial Statements

June 30, 2022