GT Holdings Corp. Announces Filing of Audited Financial Statements for Financial Year Ended September 30, 2021

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TORONTO, Jan. 28, 2022 (GLOBE NEWSWIRE) -- GT Holdings Corp. (the “Company”), a company based in Toronto, Ontario, today announced it has filed its audited consolidated financial statements (the “Financial Statements”) for the nine-month period ended September 30, 2021 (the “Reporting Period”) and the year ended December 31, 2020 (the “Prior Period”).

For a summary of the financial results see the Selected Annual Financial Highlights set out below, as well as more detailed information contained in the Financial Statements and related management discussion and analysis, which are available on the Company’s SEDAR page at www.sedar.com.

SELECTED ANNUAL FINANCIAL HIGHLIGHTS

Selected annual financial information for the Company during the Reporting Period and the Prior Period included:

September 30, 20211

December 31, 20201

Total Revenue and other income (loss)
Revenue
Other Income
Equity pickup from investments in associates
Other Losses
Change in unrealized gain (loss) from investments held at fair value through profit or loss.


Nil.
$17,378
Nil.
$(35,755)
$1,564,850


Nil.
$56,639
Nil.
$(476,146)
$(2,137,999)

Earnings (loss) per share (Basic & Diluted)

$0.095

$(0.880)

Total Assets

$11,762,543

$14,172,431

Total Liabilities
Current Liabilities
Non-Current Liabilities

$717,397
$399,009
$318,388

$435,979
$435,979
Nil.

Distributions / Cash Dividends
Common Shares


$3,400,498


Nil.

  1. The period ended September 30, 2021 was a nine-month period, whereas the period ended December 31, 2020 was a twelve-month period. Readers should carefully consider the different lengths of these periods when comparing results between periods.

ABOUT GT HOLDINGS CORP.

GT Holdings Corp. is a holding company that maintains the investment assets and liabilities spun-out of Globalive Technology Inc. on February 10, 2021. Globalive Technology Inc. was a software company and venture partner that focused on developing and investing in innovative solutions to disrupt traditional industries.

CAUTION REGARDING FORWARD-LOOKING INFORMATION

This news release contains forward-looking statements relating to the Company, its investments and its future business plans. Such forward-looking statements are identified by terms such as “expected to be”, “will”, “will be”, “subject to”, “expect, “may”, “anticipates”, “anticipated”, “expected”, “continues to”, “estimated” and similar expressions. All statements, other than statements of historical fact included in this release, including those noted above, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from the Company’s expectations include changes to the Company’s business focus or strategic plan; changes in market and industry conditions; unexpected operating gains or losses; management’s assessment of the viability of different businesses and business partners; a breakdown in the Company’s relationship with its existing or potential future business partners; changes in the Company’s management and employees; the negotiation of definitive documents and the satisfaction of the conditions precedent to completing any existing business or transactional opportunities; other parties seeking to acquire an interest in the Company or any entities in which the Company has investments; difficulties or delays in the development of new technologies; technologies not functioning as expected; third parties not using technologies and services as expected; economic conditions making certain technologies or services less attractive than anticipated; competitors in the industry; the potential effect of the COVID-19 pandemic on existing and potential transactional opportunities, the availability of financing, the performance and viability of the Company’s business ventures, business partners and investee technology companies; the COVID-19 pandemic impacting on the availability of financing, the COVID-19 pandemic introducing business interruptions due to illness, work-from home policies or supply chain disruptions and other risks as set out in the Company’s Filing Statement available on its SEDAR page at www.sedar.com.

The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The Company cannot guarantee that any of the forward-looking statements contained in this press release will occur as disclosed herein or at all. The reader is cautioned not to place undue reliance on any forward-looking information.

Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement. The forward-looking statements contained in this news release are made as of the date of this news release and the Company will only update or revise publicly the included forward-looking statements as expressly required by Canadian securities law.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Simon Lockie
Chief Corporate Officer
1-647-977-2727
InvestorRelations@globalivetech.com