Global Tech Industries provides shareholders with updates on 2022, 2023 audits

Global Tech Industries updated its shareholders regarding the delayed 2024 first quarter report on Form 10-Q, and the reaudit of its financial statements for the fiscal years ended December 31, 2022 and 2023.. As previously reported by the Company, the Company’s financial statements for these years were previously audited by BF Borgers CPA Pc. However, on May 3, 2024, the Securities and Exchange Commission charged firm BF Borgers and its owner with deliberate and systemic failures to comply with Public Company Accounting Oversight Board standards in its audits and reviews, which were incorporated in more than 1,500 SEC filings from January 2021 through June 2023. Accordingly, the Company was required to retain a new PCAOB certified auditor, and reaudit its fiscal years ended 2022 and 2023 financial statements. On May 7, 2024, the Company retained a new PCAOB certified auditor, FORTUNE CPA. Fortune began its work shortly thereafter, and informed the Company that they would begin work on the fiscal year ended 2022 audit, followed by fiscal year ended 2023 audit, and then complete the first quarter 2024 quarterly report on Form 10. GTII had, up until the retention of BF Borgers as its auditor in March of 2023, been successful in maintaining its compliance with accepted PCAOB rules and standards, working with several different PCAOB auditing firms over the years.