GLOBAL TECH INDUSTRIES GROUP, INC. 8-K

What Happened

• On April 7, 2026 the GTII Receivership Estate (acting through Court‑Appointed Receiver Paul Strickland) acquired from MSC Capital Advisors LLC all rights in two AURI, Inc. convertible promissory notes (aggregate principal $125,000) via a Note Assignment Agreement. The assignment satisfied amounts MSC owed under a defaulted $100,000 MSC Note. MSC keeps a profit participation right (up to 50% of net recoveries, capped at $100,000).
• The Receiver delivered Notices of Conversion to AURI on April 7 and April 8, 2026, each requesting issuance of 841,242,529 AURI common shares at $0.00005 per share (25% of a $0.0002 closing price), for about $42,062.13 per notice. After the April 8 conversion, remaining balances are: Note 1 principal $76,305.00; Note 2 (principal + interest) $27,210.96; total remaining debt $103,515.96. The Receiver asked for DRS electronic delivery of the conversion shares and retains the right to convert remaining balances later.

Key Details

• Notes: Note 1 dated Oct 18, 2024 — $100,000 principal; Note 2 dated Mar 25, 2025 — $25,000 principal. Interest: 8% per year (22% on default). Accrued interest at assignment: ~$10,356 (Note 1) and ~$1,995 (Note 2).
• MSC originally acquired the notes for $35,000 (Note 1) and $10,000 (Note 2). Assignment satisfied MSC’s defaulted Nov 1, 2024 $100,000 on‑demand note.
• Conversion mechanics: holder may convert at a variable price equal to 25% of the Market Price (75% discount) or into shares issued in a qualified Regulation A offering at the offering price.
• On April 17, 2026 the Receiver notified OTC Markets that AURI failed to disclose these outstanding notes in its OTC filings; AURI had issued a public statement on April 15 falsely claiming it had no convertible notes outstanding.

Why It Matters

• Dilution risk: the conversion notices seek to use essentially all currently authorized-but-unissued AURI shares and would require AURI to authorize billions more shares to meet contractual reserves — a material potential dilution for AURI shareholders if shares are issued.
• Disclosure and market risk: the Receiver told OTC Markets that AURI omitted the notes from its public filings and publicly denied their existence — this raises regulatory and information‑quality concerns that could affect AURI’s OTC status or investor confidence.
• For GTII’s Receivership Estate, the assignment plus conversions represent a move from a cash claim toward equity recovery; after the recent conversions the estate’s remaining claim on AURI is about $103,516 (principal + accrued interest).