GGTOOR’s balance sheet improves by 48,344%, revenue increases by 582%,
THOMASVILLE, Ga., June 21, 2022 (GLOBE NEWSWIRE) — via NewMediaWire — GGTOOR, Inc., (OTCMKTS: GTOR) (“GGTOOR, Inc.”, “GTOR” or the “Company”), an emerging leader in the esports, announces that the company has published its annual financial communication on OTCMarkets.com for the period ended May 31, 2022. To access the report, please click on the following link: https://www.otcmarkets.com/otcapi /company /financial-report/337802/content
The Company experienced phenomenal growth for the period ended May 31, 2022, compared to May 31, 2021. During this period, the Company improved its balance sheet by 48,344% or $103,191,919 as of May 31, 2022, compared to $213,012 as of May 31, 2021. increased 582% to $92,399 from $13,557 for the period. Equity compensation decreased from $1,966,500 to just $232,316 while employee cost increased slightly by 31% from $424,914 to $554,872. General and administrative expenses decreased by 8% from $533,066 to $492,068. Operating loss improved from ($3,052,766) for the period ended May 31, 2021 to ($1,352,998) for the period ended May 31, 2022, an improvement of 56%. Other revenue, which comes from sponsorships and consultancy fees, rose 736% to $80,887 from just $9,670. Basic and diluted earnings (loss) per share went from ($0.05) per share to just ($0.01) per share. Interest expense decreased 83% to $95,654 for the year ended May 31, 2022 from $555,838 for the year ended May 31, 2021.
John V Whitman Jr., GGToor Inc., CEO/Chairman, had this to say about the year-end financial results: “Overall, I’m pleased with the numbers. The transaction, which resulted in a significant improvement in the balance sheet, will provide the Company with inventory immediately available for sale. If all inventory is sold at the original offering price during this fiscal year, the company’s revenue would reach over $300,000,000. Revenue has been an elusive creature during our development phase, but with the recent purchase of 4,144 plots in TCG World that make up GGTOORCITY, the company finally has a head start on realizing substantial revenue. I was incredibly pleased with the improvement in loss per share, but keep in mind that the dilution helped improve that number. Dilution is a double-edged sword, it is absolutely necessary to broaden the shareholder base, improve trading volume and absorb losses, but it makes it difficult at best to sustain a higher stock price. raised. Given that GGToor has such a small team of professionals, the year ended May 31, 2022, the financial performance for the year ended May 31, 2021 has been nothing short of fantastic. The company has grown from ten tournaments in 2020 to over 120 tournaments so far in 2022. Since its inception, the company has held over 220 tournaments in total and has given away over $100,000 in cash and prizes.
The company currently trades at a market capitalization of approximately $8,500,000. With the Company’s financial condition improving and the balance sheet growing 48,344% to $103,191,919, I hope shareholders and potential shareholders will reward the Company with a significantly higher price per share. Regardless of GGToor’s share price or market capitalization, management will continue its relentless pace of growing the company and creating value for shareholders.
The company normally provides details of each tournament that took place during the week, but due to low registration numbers, the Pokémon TCG and Smash Brothers events have been postponed and the League of Legends tournament has been cancelled. The company held the YGO Master Dual #B tournament, but the numbers aren’t worth mentioning. This is the first week since the company started to organize tournaments, the number of registrations was not enough to organize the events. One of the highlights of the week is that our player base continues to grow steadily and our Discord server has grown to over 23,000 members this week!
Want to participate? Find the plan that’s right for you! You can choose between the Bronze Plan, Gold Plan and Diamond Plan: https://GGToor.com/join.php. If you want to bring your team or your friends to GGToor.com, or be a tournament organizer, we can support you and help you grow; you can reach a global audience of like-minded individuals who love to compete and have fun! You can be sure that GGToor.com is here to grow with you. Simply follow the link to register as an organizer https://GGToor.com/organizerlogin.php If you have any questions about our events, visit our social networks; Discord https://discord.gg/GUhyZxFH8Q, twitter https://twitter.com/GGToor/twitch https://www.twitch.tv/GGToor and Facebook https://www.facebook.com/eShadowGaming
If your organization is interested in being part of this growth and working with Shadow Gaming, contact us at email@example.com
GGTOOR, Inc., is engaged in the field of electronic sports. The company is aggressively entering the metaverse having purchased enough virtual land, 2,144 plots, to form its own virtual city to be called GGTOORCITY. The company has hosted over two hundred and twenty video game tournaments and given away over $100,000 in cash and prizes. GGToor.com is continuously customized and updated, with the aim of becoming one of the most comprehensive gaming portals in the world. The company is now accepting subscriptions from players, players and tournament organizers. To register, log in to https://GGToor.com/home.php.
Forward-Looking Statements. This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. We intend that all forward-looking statements be covered by the provisions exemption from the Private Securities Litigation Reform Act of 1995. Forward-looking statements can generally be identified by the fact that they do not relate strictly to historical or current facts and by the use of forward-looking terms such as ” expect”, “expect”, “believe”, “anticipate”, “may”, “could”, “intend”, “believe”, “plan”, “estimate”, “target”, “predict” , “likely”, “seek”, “project”, “model”, “ongoing”, “will”, “should”, “expect”, “outlook”, or similar terminology. These statements are based on and reflect our current expectations, estimates, assumptions and/or projections and our perception of historical trends and current conditions, as well as other factors we believe are appropriate and reasonable under the circumstances. Forward-looking statements are not predictions or guarantees of future events, circumstances or performance and are inherently subject to known and unknown risks, uncertainties and assumptions that could cause our actual results to differ materially from those indicated by these statements. There can be no assurance that our expectations, estimates, assumptions and/or projections, including with respect to future earnings and performance or the capital structure of GGTOOR, Inc.
For more information, contact:
John V Whitman Jr.