UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported):
December 30,
2016
GLOBAL TECH INDUSTRIES GROUP, INC.
(Exact Name of Registrant as Specified in its Charter)
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Nevada
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000 - 10210
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83-0250943
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(State of incorporation)
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(Commission File Number)
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(IRS Employer Identification No.)
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511
Sixth Avenue, Suite #800
New
York, NY 10011
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(Address of principal executive offices)
212-204-7926
(Registrant's telephone number, including area
code)
___N/A___
(Former Name or former address if changed from last
report.)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant
under any of the following provisions (see General Instruction A.2.
below):
☐
Written
communications pursuant to Rule 425 under the Securities Act (17
CFR 230.425)
☐
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
☐
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17
CFR 240.14d-2(b))
☐
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17
CFR 240.13e-4(c))
Item 1.01 Entry into a Material Definitive Agreement.
On
December 30, 2016, Global Tech Industries Group, Inc.
(“GTII”)
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formerly known as Tree Top Industries, Inc. (OTC: TTII), a Nevada
corporation, executed a stock purchase agreement (the
“Agreement”), which was signed and closed in Hong Kong,
with GoFun Group, Ltd. through its wholly owned subsidiary Go F
& B Holdings, Ltd. GoFun Group, Ltd. is a privately held
company running a casual dining restaurant business, based in Hong
Kong. Pursuant to the Agreement, GTII acquired all of the issued
and outstanding capital stock of of Sky Sovereign (F&B) Ltd.,
Heartful Blessing Catering Investment Ltd., Shichirin Food &
Beverage Corporation Ltd. and Go Inside Kitchen Ltd. for up to 73%
of the issued and outstanding shares of GTII.
Item 2.01 Completion of Acquisition or Disposition of
Assets.
On
December 30, 2016, GTII acquired all of the issued and outstanding
capital stock of Sky Sovereign (F&B) Ltd., Heartful Blessing
Catering Investment Ltd., Shichirin Food & Beverage Corporation
Ltd. and Go Inside Kitchen Ltd. Sky Sovereign (F & B), Ltd. is
located in a shopping mall near a large stadium where events are
held on a regular basis. This business is dependent to a large
extent on the traffic around the stadium on any given day. The
Heartful Blessing Catering Investment Ltd. property is located in
To Kwa Wan which is a residential district with some offices
nearby. This is a traditional Hong Kong Style Restaurant where Hong
Kong people congregate. The Shichirin Food & Beverage
Corporation Ltd. is located in Causeway Bay, the most popular
shopping area in Hong Kong and caters to working people in the
immediate vicinity. The theme of the property is an “all you
can eat Japanese barbecue buffet including sashimi and
sushi”. The Go Inside Kitchen, Ltd. property is located in a
factory close to Kwun Tong. This restaurant serves western food and
desserts, as well as welcoming private parties.
The
aforementioned companies (the “Companies”) were
acquired from Go F&B Holdings Ltd. (the “Seller”),
a subsidiary of GoFun Group, Ltd., for 10% of the issued and
outstanding shares of common stock of GTII, as of December 30,
2016. Additionally, the Seller may acquire up to an additional 63%
of the issued and outstanding shares of common stock of GTII as of
December 30, 2016, if certain thresholds, as described in Exhibit
10.1, are met.
Item 9.01 Financial Statements and Exhibits.
(d)
Exhibits.
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Exhibit No.
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Document Description
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Stock
Purchase Agreement, dated December 30, 2016, by and among Global
Tech Industries Group, Inc. through its subsidiary GT
International, Inc. and GoFun Group, Ltd., through its subsidiary
Go F& B Holdings, Ltd.
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Audited
Financial Statements of the Acquired Entities for the Years ended
December 31, 2015 and 2014, and Unaudited Financial Statements of
the Acquired Entities for the Period ended September 30,
2016
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SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
January 5, 2017
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GLOBAL TECH INDUSTRIES GROUP, INC.
/S/ David Reichman
——————————————
By: David Reichman
Title: Chairman and CEO
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EXHIBIT INDEX
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Exhibit No.
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Document Description
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Stock
Purchase Agreement, dated December 30, 2016, by and among Global
Tech Industries Group, Inc. through its subsidiary GT
International, Inc. and GoFun Group, Ltd., through its subsidiary
Go F& B Holdings, Ltd.
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Audited
Financial Statements of the Acquired Entities for the Years ended
December 31, 2015 and 2014, and Unaudited Financial Statements of
the Acquired Entities for the Period ended September 30,
2016
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