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GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES SIGNING OF LETTER OF INTENT WITH CLASSROOM SALON
GLOBAL TECH INDUSTRIES GROUP, INC. ANNOUNCES SIGNING OF LETTER OF INTENT WITH CLASSROOM SALON.
About this update from Global Tech Industries Group, Inc.
[{"type":"text","content":"\n New York, NY, Oct. 05, 2021 (GLOBE NEWSWIRE) -- Global Tech Industries Group, Inc. (OTCQB: GTII) (“GTII” or the “Company”), www.gtii-us.com, a Nevada corporation that seeks to acquire new and innovative technologies in diverse industries, announced today that it has signed a non-binding Letter of Intent (“LOI”) with Classroom Salon, (“CS”), www.classroomsalon.com a limited liability company organized under the laws of the state of Pennsylvania. The intent of the LOI is to work to define the terms of an acquisition of the outstanding equity of CS by GTII, which would include all of CS’ assets and liabilities as set out in the agreement. CS uses interfaces, workflows, and proprietary algorithms, providing a tool to author, deploy, teach, and assess school courses, seminars and other study groups and then integrates them with other learning platforms at many educational levels. It has created a new environment for managing the complexities of online discussions, as its platform has comprehensive dashboards and can provide visualizations of community-driven annotation around semantic similarities. Further, the technology can also facilitate capturing and indexing video and text from any source to make for easy retrieval and collaboration between multiple partners and platforms. CS is also looking to build out a roadmap for incorporating various blockchain technologies, like student digital IDs and NFTs as proof of certifications, into the software. David Reichman, Chairman and CEO of GTII stated, “Classroom Salon is one of those rare opportunities that a company like ours will always endeavor to engage with, even if the learning curve is initially a steep one. Our technical team has already put together a plan to study the synergies between CS’ learning platforms and the blockchain technologies we have been working with for some time now. I am confident that our team can find a way to create something new and brilliant from this potential union.” Dr. Andy Gunawardena, Founder, Chief Scientist and Chief Technology Officer, former Computer Science Professor at CMU and Princeton added, “Classroom Salon combines the power of human annotation and technology to provide amazing insights into our group thinking and enable context-rich deep online conv...