Global Tech Industries Group, Inc. engages in the acquisition of companies. Its subsidiaries and affiliates operate in the following sectors: intellectual properties, proprietary systems, trade secrets in the bioscience, green-tech and global health technologies, and other new and emerging businesses. The company was founded on July 24, 1980 and is headquartered in New York, NY.
During the 2019 year, we generated revenues of $0, compared to $0 for 2018. Our total operating expenses decreased from $3,220,698 in 2018 to $1,861,764 in 2019. The decrease was primarily the result of the decrease in share price and value of the share-based compensation issued to various individuals, professional, and management for services provided in 2019. General and administrative expenses decreased from $1,898,940 in 2018 to $992,865 in 2019, a decrease of $906,076 due mostly to the decrease in share-based compensation. Depreciation expense decreased to $0 from $362 the prior year.
Our net loss decreased by $1,940,505 to $1,428,835 in 2019 from $3,369,340 in 2018. This translates to a $.01 increase in loss per share.