Tree Top Industries, Inc. (OTCBB:TTII.D) acquired the assets of American Resource Technologies, Inc. for $0.91 million.
January 08, 2013 at 04:00 am
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Tree Top Industries, Inc. (OTCBB:TTII.D) acquired the assets of American Resource Technologies, Inc. for $0.91 million in stock and cash on December 31, 2012. Under the terms of the agreement, Tree Top will issue 0.47 million shares of its common stock, of which 25% will be issued at the time of closing and the remaining 75% will be held in escrow. Also, Tree Top assumed $0.40 million of American Resource's notes payable which shall only be paid from 50% of the net collections from the notes receivable purchased by Tree Top. Subsequently, Robert Hantman, a Director of American Resource resigned from the Board of Directors. Peter DiChiara of Sichenzia Ross Friedman Ference LLP acted as legal advisor to Tree Top Industries. Peter DiChiara PLLC acted as escrow agent in the transaction.
Tree Top Industries, Inc. (OTCBB:TTII.D) completed the acquisition of the assets of American Resource Technologies, Inc. on December 31, 2012.
Global Tech Industries Group, Inc. specializes in the pursuit of acquiring new technologies. The Company works across various and diverse industry sectors attempting to find partners and assisting them in animating their business plans or facilitating them, through joint venture, or stock purchase, to spin out on their own. It also assists private companies, through incubation, to become public companies in their own right and in good standing. Its portfolio includes Classroom Salon and Gold Transaction International. Classroom Salon uses interfaces, workflows, and algorithms, providing a tool to author, deploy, teach, and assess school courses, seminars, and other study groups and then integrate them with other learning platforms at many educational levels. Gold Transaction International with the assistance of a private network, purchases gold from artisan miners throughout the world and transports, assays, refines and sells the gold in the Dubai Multi Commodities Centre (DMCC).
GLOBAL TECH INDUSTRIES GROUP, INC. 
