Five years ago, the Boston Red Sox won the World Series, “W” was president and Global Technologies Group Inc. (GTGP) filed a current report with the SEC. Since then, The Red Sox suck, Barrack Obama is trying to get re-elected for another 4 year term, and the formerly known as Global Music International Inc. has not filed a single “Q” or “K” with the SEC. Despite any legally filed financial updates, GTGP stock has gained as much as 975% since Romney won the GOP election in June based on rumors that an acquisition is forth coming from Butte, MO.
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GTGP Stock Chart
Dollar Volume: $374,513
Average Trade Size: 1,891
52 Week High
52 Week Low
20 Day Percent Change: 116.98%
20 Day Moving Average: 0.72
20 Day Average Volume: 205,92
Last Financial Data Filed With The SEC:
For the period ended September 30, 2007
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What seems to have taken place over the last five years is that since Corinne Fallacaro, the majority shareholder, President, CEO and Director of Global Music Technologies as of April, 2007, appointed James Fallacaro as Chairman of the BoD, CEO and President. James co-founded Independent Music Network.
Now, the penny stock, GTGP, is running based on James being on the front page of a 75-cent per issue Montana newspaper with an apparent verbal agreement to purchase MSE Inc. From music to capturing mercury from cement makers, the investors in the Company have put an enormous amount of faith into this non-reporting entity. An 8-K is not a financial report and it ceases to amaze me that the SEC hasn’t halted trading yet on the stock.
With just 40,000,000 shares authorized as of September 30, 2007, somehow traders believe there are 100,000,000 and a deal that the Company has been fluffing for over a year by stating “Global will not comment on the potential acquisition until both companies have reached a final determination for a closing.” That was in October, 2011. STOP DRINKING THE KOOL AID!
About GTGP Stock
Global Technologies Group, Inc. calls itself a company that is in the business of acquiring exclusive licenses and distribution and reseller contracts on proven technologies in the environmental, green and war fighter industries.
Click here to view the SEC filings for GTGP.
Bottom Line: The penny stocks of Global Technologies Group, GTGP, is a phenomily as to how it can still trade on 5 year old data. Run by a former investment banker, James Fallacaro, there is better bang-for-your buck dealing with James Fallacaro the car salesman at Hollywood Toyota. At least with the latter, your less likey to have the wheels fall of like what’s about to happen to GTGP stock.
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