EXHIBIT 10.1
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: March 25, 2024
TPT Global Tech, Inc. |
(Exact name of registrant as specified in its charter) |
Florida | 333-222094 | 81-3903357 | ||
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification Number) |
501 West Broadway, Suite 800, San Diego, CA 92101
(Address of Principal Executive Offices) (Zip Code)
(619) 301-4200
Registrant's telephone number, including area code
______________________________________________
(Former name or former address, if changed since 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:
☐ 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))
Securities registered pursuant to Section 12(b) of the Act: None
Title of each Class |
| Trading Symbol |
| Name of each exchange on which registered |
N/A |
| N/A |
| N/A |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging Growth Company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Item 1.01 Entry into a Material Definitive Agreement
1800 Diagonal Lending, LLC Convertible Promissory Note and Securities Purchase Agreement
Dated March 25, 2024, TPT Global Tech, Inc. and 1800 Diagonal Lending LLC entered into a Convertible Promissory Note (“1800 Diagonal Note #5”, Exhibit 10.1) totaling $66,000 and a Securities Purchase Agreement (“SPA 1”, Exhibit 10.2). The 1800 Diagonal Note #5, upon the terms and subject to certain general limitations and conditions, bears an interest rate of 22% including a one-time earned interest charge of 19% or $12,540, resulted in cash received by the Company of $50,000 net of expenses and discount of $11,000. Required payments shall be $47,124 on September 30, 2024 and $10,472 on each of October 30 2024, November 30, 2024 and December 30, 2024 with a total payback of $78,540. The Holder may convert the outstanding unpaid principal amount into restricted shares of Common Stock of the Company at a discount of 39% of the Market Price, as indicated or upon default. There are no warrants or options attached to this Note. The Company has initially reserved 1,400,000,000 shares of Common Stock for conversion pursuant to the 1800 Diagonal Note #5. 1800 Diagonal has not exercised its right to convert any balances into common shares leaving a balance of $66,000 in principal and $1,393 in accrued interest as of June 30, 2024.
FirstFire Global Opportunities Fund, LLC Convertible Promissory Note and Securities Purchase Agreement
On May 14, 2024, TPT Global Tech, Inc. and FirstFire Global Opportunities Fund, LLC (“FirstFire”) entered into a $83,333 Promissory Note Agreement (“FirstFire Note #3”, Exhibit 10.3) and a Securities Purchase Agreement (“SPA 2”, Exhibit 10.4). The FirstFire Note #3 has an original issue discount of 10%, or $8,333, and bears interest at 10%, 24% upon default, and is convertible into shares of the Company’s common stock at the lower of $0.001 per share or 75% of the average of the two lowest closing trading prices during the fifteen consecutive trading days prior to the conversion. $8,333 of interest is considered earned at the issue date. Total of $83,333 plus accrued interest, or any principal or accrued interest remaining outstanding, is due nine months from the issue date. 1,250,000,000 common shares of the Company’s common stock have been reserved with the transfer agent for possible conversion. FirstFire has not exercised its right to convert any balances into common shares leaving a balance of $83,333 in principal and $347 in accrued interest as of June 30, 2024.
EMA Settlement Agreement and Release
Dated May 14, 2024, the Company and EMA entered into a Settlement Agreement and Release (“EMA Settlement”, Exhibit 10.5) whereby the Company agrees to pay EMA $451,765 (“Settlement Amount”), and any accrued interest thereon at 6%, from proceeds of the Company’s financing related to an intended uplist to a major stock exchange. The Company is to notify EMA of the uplist and within 10 business days allow EMA to elect for payment in cash, which is to be at 116% of amounts outstanding at that time, or the option to convert any outstanding amounts to tradeable common stock of the Company. The conversion price would be 75% of the 30-day average market closing price of the Company’s common stock for the previous thirty business days. Conversion can take place at the earlier of the uplist or January 1, 2025. A default judgement was agreed to by the Company which would allow EMA to file for default judgement under any default under the EMA Settlement for the Settlement Amount and accrued interest at 24%. (Exhibit 10.6) As such, the principal and accrued interest balances owning to EMA at June 30, 2024 is $524,048 and $22,588, respectively.
Cavalry Fund I, LP Convertible Promissory Note and Securities Purchase Agreement
On September 6, 2024, TPT Global Tech, Inc. and Cavalry Fund I, LP (“Cavalry”) entered into a $83,333 Promissory Note Agreement (“Cavalry Fund I Note #2”, Exhibit 10.7) and a Securities Purchase Agreement (“SPA 3”, Exhibit 10.8). The Cavalry Fund I Note #2 has an original issue discount of 10%, or $8,333, and bears interest at 10%, 24% upon default, and is convertible into shares of the Company’s common stock at $0.001. $8,333 of interest is considered earned at the issue date. Total of $83,333 plus accrued interest, or any principal or accrued interest remaining outstanding, is due nine months from the issue date. 1,500,000,000 common shares of the Company’s common stock have been reserved with the transfer agent for possible conversion.
In conjunction with this Cavalry Fund I Note #2 financing arrangement, the Company and Cavalry Fund agreed to a Conversion Agreement (“Exhibit B to Cavalry Fund I Note #2”) whereby Cavalry Fund I agreed to convert to the Company’s Series E Preferred Shares any remaining principal, interest, penalties and other fees related to the Cavalry Fund I Note #2 and the fair value of related warrants outstanding upon a successful uplisting of the Company to a major U.S. stock exchange. Balances Outstanding related to the Cavalry Fund I Note #2 as of June 30, 2024 were principal of $826,833 and accrued interest of $513,639.
| 2 |
Geokall Amendment to Sales and Purchase Agreement
On September 9, 2024, TPT Global Tech, Inc. (“TPT”) and Geokall UK Ltd. (“Georkall”) entered into an Amendment to Sales and Purchase Agreement. TPT and Geokall previously entered into a Sales and Purchase Agreement dated October 31, 2023 (“Original Agreement”) and amended April 9, 2024 (“First Amendment”). Section 1.01 of the Original Agreement titled “Consideration” was amended to substitute the provision regarding the acceptance of TPT Global Tech Series E Preferred shares with the following provision: “Geokall agrees to accept 200,000 shares of Series G Preferred shares at stated value of $5.00 USD issued by TPT Global Tech instead of TTP Global Tech Series E Preferred or Series F Preferred shares as indicated in the First Amendment.” A copy of the Amendment to Sales and Purchase Agreement is attached hereto as Exhibit 10.9.
SECTION 2 – FINANCIAL INFORMATION
Item 2.03 Creation of Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant
See the disclosures under Item 1.01 of this Current Report on Form 8-K, incorporated herein by this reference.
SECTION 3 – SECURITIES AND TRADING MARKETS
Item 3.02 Unregistered Sales of Equity Securities
The Company and the Holder executed the Securities Purchase Agreements (“SPA 1, SPA 2, and SPA 3”) in accordance with and in reliance upon the exemption from securities registration for offers and sales to accredited investors afforded, inter alia, by Rule 506 under Regulation D as promulgated by the United States Securities and Exchange Commission (the “SEC”) under the 1933 Act, and/or Section 4(a)(2) of the 1933 Act. The SPA 1, SPA 2 and SPA 3 outlines the purchase of the 1800 Diagonal Note #5, FirstFire Note #3, and Cavalry Fund I Note #2 (the “Securities”), and the Holder understands that the Securities are being offered and sold to it in reliance on specific exemptions from the registration requirements of the 1933 Act and state securities laws and that the Company is relying upon the truth and accuracy of, and the Holder’s compliance with, the representations, warranties, agreements, acknowledgments and understandings of the Holder set forth in the SPA in order to determine the availability of such exemptions and the eligibility of the Holder to acquire the Securities.
See the disclosures under Item 1.01 of this Current Report on Form 8-K, incorporated herein by this reference.
Item 7.01 Regulation FD Disclosure.
Press Release
The information in this Item 7.01 of this Current Report is furnished pursuant to Item 7.01 and shall not be deemed "filed" for any purpose, including for the purposes of Section 18 of the Exchange Act, or otherwise subject to the liabilities of that Section. The information in this Current Report on Form 8-K shall not be deemed incorporated by reference into any filing under the Securities Act or the Exchange Act regardless of any general incorporation language in such filing.
On July 19, 2024, the Company issued a press release entitled “TPT Global Tech Explores Global Sports Betting Feature for VüMe Super App to Enhance Live Sports Broadcasts”. A copy of the press release is attached hereto as Exhibit 99.1.
| 3 |
On July 24, 2024, the Company issued a press release entitled “TPT Global Tech Set to Now Access $3,000,000 USD Standby Equity Commitment”. A copy of the press release is attached hereto as Exhibit 99.2.
On July 25, 2024, the Company issued a press release entitled “TPT Global Tech’s Subsidiary Completes Merger to Tap Into “Culture is the New Technology (TM)”. A copy of the press release is attached hereto as Exhibit 99.3.
On August 1, 2024, the Company issued a press release entitled “TPT Global Tech's Partners with the 100 Sack Club for VüMe Super App Content Creation and Revenue Generation”. A copy of the press release is attached hereto as Exhibit 99.4.
On September 26, 2024, the Company issued a press release entitled “TPT Global Tech's Efforts to Reduce Debt Results in a $4.9 Million Profit in Q2 2024, Files 10-Q for SEC Compliance”. A copy of the press release is attached hereto as Exhibit 99.5.
On September 27, 2024, the Company issued a press release entitled “TPT Global Tech's VüMeLive PPV Presents “Genesis” Johannesburg, South Africa, September 28th”. A copy of the press release is attached hereto as Exhibit 99.6.
Item 9.01 Exhibits
The following exhibits are filed with this report on Form 8-K.
Exhibit Number |
| Exhibit |
| ||
| ||
| Convertible Promissory Note – FirstFire Global Opportunities Fund, LLC | |
| Securities Purchase Agreement – FirstFire Global Opportunities Fund, LLC | |
| ||
| ||
| ||
| ||
| ||
| ||
| ||
| ||
| ||
| ||
| ||
104 |
| Cover Page Interactive Data File (embedded within the Inline XBRL document) |
| 4 |
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.
TPT GLOBAL TECH, INC. | ||
By: /s/ Stephen J. Thomas, III | ||
| Stephen J. Thomas, III, Title: Chief Executive Officer | |
Date: October 1, 2024 |
| 5 |
EXHIBIT 10.1
EXHIBIT 10.2
EXHIBIT 10.3
EXHIBIT 10.4
EXHIBIT 10.5
EXHIBIT 10.6
EXHIBIT 10.7
EXHIBIT 10.8
EXHIBIT 10.9
EXHIBIT 99.1
TPT Global Tech Explores Global Sports Betting Feature for VüMe Super App to Enhance Live Sports Broadcasts
Revolutionizing Sports Engagement and Entertainment on the VüMe Super app "VüMe Bets"
TPT Global Tech (OTC PINK:TPTW) is excited to announce that it is exploring the feasibility of introducing a global sports betting feature within the VüMe Super App. This initiative aims to revolutionize how users engage with their favorite sports by providing a seamless, secure, and integrated betting experience. Recognizing the significant revenue generated globally from mobile and internet betting, with the global online gambling market projected to reach $100.9 billion in 2024 and expected to grow to $153.57 billion by 2030, this new feature will seek to tap into a thriving market with the intent to position VüMe's as a premier Super app [oai_citation:1,Global Online Gambling Market Report 2023: Major Players] (https://finance.yahoo.com/news/global-online-gambling-market-report-144300946.html) [oai_citation:2,Online Gambling Market Size Worth $153.57 Billion By 2030](https://www.grandviewresearch.com/press-release/global-online-gambling-market).
The proposed sports betting feature is designed to significantly enhance user engagement by offering a dynamic and interactive platform. Users will be able to immerse themselves in the excitement of live games and place bets in real-time, thereby increasing overall app usage and extending engagement periods. Integrating sports betting with VüMe's existing functionalities will create a holistic ecosystem where users can watch live sports, interact with the community, and place bets - all within one app. This comprehensive approach caters to sports enthusiasts' desires for entertainment, interaction, and excitement.
Additionally, this new feature will open up fresh revenue streams through betting commissions, partnerships with betting services, and promotional activities, enhancing VüMe's profitability and financial sustainability. The sports betting feature is expected to boost user retention and loyalty by providing unique value propositions and continuous engagement opportunities. Users who enjoy betting are more likely to remain active and loyal to the platform, contributing to VüMe's growth.
Furthermore, integrating sports betting will set VüMe apart from other super apps by offering a niche yet popular feature, attracting new users and converting casual sports fans into regular app users. Combining betting with live broadcasts and social features will foster a vibrant community of sports enthusiasts. Users can share insights, discuss strategies, and celebrate wins together, enhancing the social aspect of the app and creating a loyal user base.
The synergy between live sports broadcasts and betting will create numerous cross-promotional opportunities. Special events, promotions, and exclusive offers during live broadcasts will drive betting activity, and vice versa, creating a mutually beneficial cycle of engagement. The sports betting feature is designed to evolve with user preferences and market trends. TPT Global Tech plans to expand its betting options, incorporate new sports, and innovate new betting formats, ensuring long-term growth and relevance.
"We are thrilled to explore the possibility of introducing sports betting to the VüMe Super App ecosystem," said Stephen J. Thomas III, CEO of TPT Global Tech. "This feature would not only enhance the user experience by providing a comprehensive and engaging platform for sports enthusiasts but also position VüMe for significant growth and differentiation in the market. Our users could enjoy watching live sports, interacting with their community, and placing bets all in one place. We believe this would revolutionize how fans engage with sports."
TPT Global Tech's exploration of the sports betting feature for VüMe highlights its commitment to pushing the boundaries of user engagement and entertainment, with intent to solidify VüMe's position as a leading super app in the market. By tapping into the global sports betting market, TPT Global Tech and its VüMe Super App platform is poised to leverage a substantial revenue stream, which the company believes will create shareholders value and excitement to its users worldwide.
About TPT Global Tech
TPT Global Tech, Inc. is a technology holding company based in San Diego, California. It was formed as the successor of two U.S. corporations, Ally Pharma US and TPT Global, Inc. The Company operates in various sectors including media, telecommunications, Smart City Real Estate Development, and the launch of the first Super App, VüMe Live technology platform.
As a media content delivery hub, TPT Global Tech utilizes its own proprietary global digital media TV and telecommunications infrastructure platform. They offer software as a service (SaaS), technology platform as a service (PAAS), and cloud-based unified communication as a service (UCaaS) solutions to businesses worldwide. Their UCaaS services enable businesses of all sizes to access the latest voice, data, media, and collaboration features.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
For more information about TPT Global Tech and its subsidiaries, please visit www.tptglobaltech.com.
For media or Investment inquiries, please contact: Rick@tptglobaltech.com
SOURCE: TPT Global Tech, Inc.
EXHIBIT 99.2
TPT Global Tech Set to Now Access $3,000,000 USD Standby Equity Commitment
The company's Post Effective Amendment Form S-1 goes Effective with the SEC
TPT Global Tech, Inc. (OTC PINK:TPTW) (www.tptglobaltech.com, the "Company"), a leading innovator in the telecommunications and technology industries, is pleased to announce the effectiveness of its Post Effectibe Amendment Form S-1 related to a $3,000,000 Standby Equity Commitment Agreement with MACRAB, LLC (the "Standby Equity Commitment Agreement") with the SEC. This agreement, along with the related Registration Rights Agreement, grants the Company access to weekly financing tranches. More details on the Standby Equity Commitment Agreement are available in the Company's SEC filings.
This financing arrangement, extending for up to 24 months, provides TPT Global Tech with capital to support its growth initiatives and the launch of the innovative VuMe Super App. The VuMe Super App aims to integrate digital services such as social media, multimedia streaming, and mobile payment options into a single, seamless user experience. Additionally, it is expected to help reduce the Company's debt burden.
Stephen Thomas, CEO of TPT Global Tech, commented, "We believe this Standby Equity Commitment Agreement reflects our partners' confidence in TPT Global Tech's vision and strategic direction. With access to weekly financing tranches, we have the financial flexibility to accelerate the development and launch of our VuMe Super App, a platform we believe will redefine user engagement across multiple digital services.
The Standby Equity Commitment Agreement helps TPT Global Tech manage its cash flows while pursuing its strategic objectives. This financing underscores TPT Global Tech's dedication to innovation and excellence in the telecommunications and technology sectors.
About TPT Global Tech
TPT Global Tech, Inc. is a technology holding company based in San Diego, California. It was formed as the successor of two U.S. corporations, Ally Pharma US and TPT Global, Inc. The Company operates in various sectors including media, telecommunications, Smart City Real Estate Development, and the launch of the first super App, VuMe Live technology platform.
As a media content delivery hub, TPT Global Tech utilizes its own proprietary global digital media TV and telecommunications infrastructure platform. They offer software as a service (SaaS), technology platform as a service (PAAS), and cloud-based unified communication as a service (UCaaS) solutions to businesses worldwide. Their UCaaS services enable businesses of all sizes to access the latest voice, data, media, and collaboration features.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
For more information about TPT Global Tech and its subsidiaries, please visit www.tptgloabltech.com.
For media or Investment inquiries, please contact: Rick@tptglobaltech.com
SOURCE: TPT Global Tech, Inc.
EXHIBIT 99.3
TPT Global Tech's Subsidiary Completes Merger to Tap Into "Culture is the New Technology(TM)"
A Global Marketplace Vision by Urban Icon™
TPT Global Tech (OTC Pink:TPTW) announces today that its subsidiary, TPT Strategic (INOQ), has entered into a strategic merger acquisition with Urban Icon™ (UI), a Holding Company acquiring FutureTech™ companies that understand the power of social impact, technological and cultural innovation.
UI's general mandate crosses multiple industries including Fintech, Electric Mobility, AI and Blockchain driven products, including a Global 360 Health Initiative (physical, mental, environmental, and finance health) that supports the social and economic growth of the New Urban™ markets. The Company has already identified several investment opportunities and has executed several LOI's with strong leadership teams, assets, and revenue strategies.
As part of the merger, the stock symbol will change from INOQ to NURB (NewUrban™). Urban Icon Holdings will gain a majority interest, while TPT Global will hold a minority position in the new offering.
In addition, the merger gives TPT access to Urban Icon's social media and entertainment market expertise to assist in the development, partnerships and marketing of the VüMe super app. This integration aims to enhance VüMe's capabilities, offering a comprehensive range of services and solutions across various industries, thus expanding its user base and increasing its societal impact while driving revenue for both companies on a global scale.
"We are thrilled to merge TPT Strategic with Urban Icon™, which shares our vision of driving social impact through technological innovation," said Stephen J. Thomas III, CEO of TPT Global Tech. "This merger not only broadens our technological capabilities but also reinforces our commitment to supporting diverse entrepreneurs and integrating impactful tech solutions into our VüMe super app and at the same time increasing our technology IP and shareholders' equity".
For more information or details on the TPT Strategic and Urban Icon™ strategic Merger acquisition individuals can go to the TPT Global tech's 8k filing with SEC or TPT Global Tech website.
About Urban Icon Int'l Holdings :
"Culture is the New Technology™" is the ongoing mantra and values proposition of the Company. UI's Board of Directors and Executive Team are leveraging over 100 combined years of experience in the top positions and categories surrounding entertainment, lifestyle and culture, banking, and personal tech.
The Company will also launch its long awaited Venture Studio by the 1st Quarter 2025 funding at least 7 to 10 investment deals per year. UI is positioned to operate in Los Angeles & London over the next year and has interests in the Middle East and Africa.
About TPT Global Tech
TPT Global Tech, Inc. is a technology holding company based in San Diego, California. It was formed as the successor of two U.S. corporations, Ally Pharma US and TPT Global, Inc. The Company operates in various sectors including media, telecommunications, Smart City Real Estate Development, and the launch of the first super App, VüMe Live technology platform.
As a media content delivery hub, TPT Global Tech utilizes its own proprietary global digital media TV and telecommunications infrastructure platform. They offer software as a service (SaaS), technology platform as a service (PAAS), and cloud-based unified communication as a service (UCaaS) solutions to businesses worldwide. Their UCaaS services enable businesses of all sizes to access the latest voice, data, media, and collaboration features.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
For more information about TPT Global Tech and its subsidiaries, please visit www.tptglobaltech.com.
For media or Investment inquiries, please contact: Rick@tptglobaltech.com
SOURCE: TPT Global Tech, Inc.
EXHIBIT 99.4
TPT Global Tech's Partners with the 100 Sack Club for VüMe Super App Content Creation and Revenue Generation
The 100 Sack Club is a prestigious organization dedicated to recognizing NFL players who have achieved the milestone of sacking 100 quarterbacks
SAN DIEGO, CA / ACCESSWIRE / August 1, 2024 / TPT Global Tech, Inc. (OTC PINK:TPTW) (www.tptglobaltech.com), a leading innovator in the telecommunications and technology and its cutting-edge VüMe super app is excited to announce its new partnership with The 100 Sack Club https://thelegalcollectivefirm.com/100-sack-club/. This collaboration positions the company to continue to produce and deliver high quality content to fans and members, while also generating revenue through a shared model. The agreement includes the production of live podcasts, documentaries, and merchandise of and by the 100 club members, all of which participating members will be featured on the VüMe platform.
The VüMe super app, developed by TPT Global Tech, provides a comprehensive suite of features including live streaming, social networking, e-commerce, and content creation tools. This platform will allow the 100 Sack Club to engage with their audience through interactive live events and exclusive podcasts, while VüMe's robust e-commerce capabilities will support the sale of club merchandise, giving fans access to unique memorabilia. The revenue generated from these activities will be shared between the 100 Sack Club and TPT Global Tech, maximizing financial benefits for both parties.
In addition, TPT Global Tech's film production company, Blue Collar Productions, will produce high-quality documentaries for the 100 Sack Club. Blue Collar Productions, known for its recent premiere of "100 Women in Fashion" on Amazon Prime, will craft compelling stories that highlight the careers and achievements of club members, offering fans an in-depth look at their favorite players.
A key highlight of the 100 club is the induction of Deacon Jones into the 100 Sack Club. The legendary Hall of Famer, who famously coined the term "sacking the quarterback," will be posthumously honored at an exclusive event. The ceremony, taking place on Thursday, August 1, 2024, from 3:30 PM to 5:30 PM at the DoubleTree Market Ballroom in Canton, OH, will see his wife, Elizabeth Jones, accept the honor on his behalf. Deacon Jones's induction celebrates his remarkable career and lasting impact on the sport, symbolizing the power and disruption he brought to the game.
The 100 Sack Club is a prestigious organization dedicated to recognizing NFL players who have achieved the milestone of sacking 100 quarterbacks. The club aims to inspire and honor players who have made significant contributions to football.
About TPT Global Tech
TPT Global Tech, Inc. is a technology holding company based in San Diego, California. It was formed as the successor of two U.S. corporations, Ally Pharma US and TPT Global, Inc. The Company operates in various sectors including media, telecommunications, Smart City Real Estate Development, and the launch of the first super App, VüMe Live technology platform.
As a media content delivery hub, TPT Global Tech utilizes its own proprietary global digital media TV and telecommunications infrastructure platform. They offer software as a service (SaaS), technology platform as a service (PAAS), and cloud-based unified communication as a service (UCaaS) solutions to businesses worldwide. Their UCaaS services enable businesses of all sizes to access the latest voice, data, media, and collaboration features.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
For more information about TPT Global Tech and its subsidiaries, please visit www.tptglobaltech.com.
For media or Investment inquiries, please contact: Rick@tptglobaltech.com
SOURCE: TPT Global Tech, Inc.
EXHIBIT 99.5
TPT Global Tech's Efforts to Reduce Debt Results in a $4.9 Million Profit in Q2 2024, Files 10-Q for SEC Compliance
SAN DIEGO, CA / ACCESSWIRE / September 26, 2024 / TPT Global Tech (OTC PINK:TPTW), a leading telecommunications and technology company, announced today that its debt reduction efforts helped result in a $4.9 million profit in the second quarter of 2024 primarily a result of trouble debt restructuring of $4.7 million. Additionally, the company has now filed its June 30, 2024, Form 10-Q quarterly financial report, ensuring compliance with its financial reporting requirements with the U.S. Securities and Exchange Commission (SEC).
TPT Global Tech reported a net income of $1.7 million for the six months ended June 30, 2024, compared to a $2.8 million loss for the same period in 2023, representing efforts to reduce debt and improve its balance sheet. Cash used for operating activities during these same periods was $294,977 and $483,008, respectively.
The Company recognized a gain on troubled debt restructuring during the six months ended June 30, 2024, in relation to its EMA legal settlement ("EMA Settlement") of $3,938,347. This is comprised of a reversal of accrued interest of $523,360 and a reduction in the derivative liability related to the EMA Debt of $3,414,987 when current terms of the EMA Settlement are compared to the original terms and balances as of the settlement date. The Company also recognized a gain for the same period of $742,728 related to its legal settlement with American Towers ("American Tower Settlement"). This gain came from excess amounts recorded for accrued tower and other payments and the net present value of future lease liability amounts compared to terms of the American Tower Settlement.
"We are excited to be making progress towards our debt reduction efforts," said Stephen Thomas, CEO of TPT Global Tech. "Equally important, we've become compliant with SEC financial reporting requirements by filing our Form 10-Q.
Looking ahead, Mr. Thomas has indicated that the Company's plans are to further reduce its debt while strategically investing in global markets and cutting-edge technology. These initiatives are expected to continue to improve the balance sheet and support expansion efforts.
About TPT Global Tech
TPT Global Tech, Inc. is a technology holding company based in San Diego, California. It was formed as the successor of two U.S. corporations, Ally Pharma US and TPT Global, Inc. The Company operates in various sectors including media, telecommunications, Smart City Real Estate Development, and the launch of the first super App, VuMe Live technology platform.
As a media content delivery hub, TPT Global Tech utilizes its own proprietary global digital media TV and telecommunications infrastructure platform. They offer software as a service (SaaS), technology platform as a service (PAAS), and cloud-based unified communication as a service (UCaaS) solutions to businesses worldwide. Their UCaaS services enable businesses of all sizes to access the latest voice, data, media, and collaboration features.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
For more information about TPT Global Tech and its subsidiaries, please visit www.tptglobaltech.com.
For media or Investment inquiries, please contact: Rick@tptglobaltech.com
SOURCE: TPT Global Tech, Inc.
EXHIBIT 99.6
TPT Global Tech's VüMeLive PPV Presents “Genesis" Johannesburg, South Africa, September 28th
VüMeLive PPV Worldwide Live Broadcast Is A Celebration of Boxing and African Excellence Presented by Seconds Out Promotions
SAN DIEGO, CA / ACCESSWIRE / September 27, 2024 / TPT Global Tech, Inc. (OTC PINK:TPTW) (www.tptglobaltech.com), a leading innovator in the telecommunications and technology industries, announces its first international Live PPV professional boxing event to be broadcast on the company's VüMeLive PPV platform www.vumeliveppv.com, 1pm est. September 28, 2024. The Johannesburg, South African event organized Roy Foreman, President of Boxing for TPT Media and Entertainment is proud to present Genesis, a Pay-Per-View event by Seconds Out Promotions. This electrifying event will not only showcase the intense drama of professional boxing but also pay tribute to the vibrant spirit of African culture, blending sports with entertainment in a dynamic celebration of identity and heritage.
https://www.youtube.com/watch?v=I1ePQmMUm0A
Genesis will feature an array of exciting boxing matchups, including a thrilling main event that promises an unforgettable clash of styles. Patrick ‘The Panther' Mukala (15-2-1, 14 KOs), a Congolese knockout sensation on the cusp of breaking into the global boxing elite, will face the battle-hardened veteran Ronald ‘Akeem' Ellis (18-4-2, 12 KOs), who recently teamed up with the legendary Freddie Roach at the Wildcard Gym. This showdown of power and precision is set to capture the heart of the event-an explosive battle between two warriors in the prime of their careers. The lineup card features boxers from South Africa, Zimbabwe, Democratic Republic of Congo, New Zealand and the Unites States.
In addition to the high-octane boxing action, Genesis will celebrate Africa's rich cultural heritage through a vibrant lineup of live entertainment, featuring local talent and performances that pay homage to the continent's diverse artistic traditions. From boxing to music, the event will be a multifaceted showcase of African excellence.
VüMeLive, a subsidiary of TPT Global Tech, is committed to delivering world-class Pay-Per-View events that entertain, inspire, and unite audiences worldwide. With Seconds Out Promotions leading the charge, Genesis offers a unique opportunity for emerging and established African boxing talents to shine on the global stage.
With a distinguished career spanning over 40 years in the boxing industry, Mr. Roy Foreman brings unmatched expertise and a proven record of success. He notably managed his brother, George Foreman, to multiple championship titles and has promoted over 200 fights throughout the Americas and Europe.
Mr. Foreman's diverse background extends beyond boxing. He hosted a successful show on the Comcast Network for eight years, served as America's Ambassador for Sports under appointment by the U.S. State Department, and held prominent roles on the U.S. Olympic Boxing Committee.
In addition to his impact on the sport, Roy has been deeply involved in philanthropy, serving on various boards and founding several youth organizations. His roles as a ringside announcer for HBO International Sports and the founder of the sports apparel brand "Foreman Gear" further highlight his wide-ranging talents.
Don't miss this epic event on September 28th-Genesis will be broadcast live via VüMeLive www.vumeliveppv.com, 1pm est. promising a night of unforgettable action, entertainment, and cultural celebration.
About TPT Global Tech
TPT Global Tech, Inc. is a technology holding company based in San Diego, California. It was formed as the successor of two U.S. corporations, Ally Pharma US and TPT Global, Inc. The Company operates in various sectors including media, telecommunications, Smart City Real Estate Development, and the launch of the first super App, VüMeLive technology platform.
As a media content delivery hub, TPT Global Tech utilizes its own proprietary global digital media TV and telecommunications infrastructure platform. They offer software as a service (SaaS), technology platform as a service (PAAS), and cloud-based unified communication as a service (UCaaS) solutions to businesses worldwide. Their UCaaS services enable businesses of all sizes to access the latest voice, data, media, and collaboration features.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of various provisions of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, commonly identified by such terms as "believes," "looking ahead," "anticipates," "estimates" and other terms with similar meaning. Specifically, statements about the Company's plans for accelerated growth, improved profitability, future business partners, M&A activity, new service offerings, and pursuit of new markets are forward-looking statements. Although the company believes that the assumptions upon which its forward-looking statements are based are reasonable, it can give no assurance that these assumptions will prove to be correct. Such forward-looking statements should not be construed as fact. The information contained in such statements is beyond the ability of the Company to control, and in many cases, the Company cannot predict what factors would cause results to differ materially from those indicated in such statements. All forward-looking statements in the press release are expressly qualified by these cautionary statements and by reference to the underlying assumptions.
For more information about TPT Global Tech and its subsidiaries, please visit www.tptglobaltech.com.
For media or Investment inquiries, please contact: Rick@tptglobaltech.com
SOURCE: TPT Global Tech, Inc