Global Technologies Ltd. Files 2024 10-K

TL;DR

GTLL filed its 2024 10-K. Financials for FY24 are in. Check it out.

AI Summary

Global Technologies Ltd. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its operations in the radio & TV broadcasting & communications equipment sector. The company is incorporated in Delaware and headquartered in Parsippany, NJ. The filing covers financial data for the fiscal years 2022, 2023, and 2024, including details on common and preferred stock.

Why It Matters

This 10-K filing provides a comprehensive overview of Global Technologies Ltd.'s financial health and operational status for the fiscal year 2024, crucial for investors and stakeholders to assess the company's performance and future prospects.

Risk Assessment

Risk Level: low — The filing is a standard annual report and does not contain immediate red flags or significant negative disclosures.

Key Numbers

• FY 2024 — Fiscal Year End (The report covers the fiscal year ending June 30, 2024.)
• FY 2023 — Previous Fiscal Year (Financial data for the prior fiscal year ending June 30, 2023, is included for comparison.)
• FY 2022 — Prior Fiscal Year (Financial data for the fiscal year ending June 30, 2022, is also presented.)

Key Players & Entities

• GLOBAL TECHNOLOGIES LTD (company) — Filer
• 0000932021 (company) — Central Index Key
• 3663 (company) — Standard Industrial Classification
• DE (company) — State of Incorporation
• 0630 (date) — Fiscal Year End
• 8 CAMPUS DR. (company) — Business Street Address
• PARSIPPANY (company) — Business City
• NJ (company) — Business State
• 07054 (company) — Business Zip Code
• (973) 233-5151 (company) — Business Phone

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share GTLL OTC Market
• $10,000,000 — ucture bill. The Agreement is valued at $10,000,000. GOe3 recently completed phase one of
• $0 — rs ended June 30, 2024 and 2023, we had $0 and $0 research and development costs,

Filing Documents

• form10-k.htm (10-K) — 1675KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 6KB
• form10-k_001.jpg (GRAPHIC) — 5KB
• form10-k_002.jpg (GRAPHIC) — 7KB
• 0001493152-24-038049.txt ( ) — 7339KB
• gtll-20240630.xsd (EX-101.SCH) — 54KB
• gtll-20240630_cal.xml (EX-101.CAL) — 73KB
• gtll-20240630_def.xml (EX-101.DEF) — 246KB
• gtll-20240630_lab.xml (EX-101.LAB) — 421KB
• gtll-20240630_pre.xml (EX-101.PRE) — 362KB
• form10-k_htm.xml (XML) — 1053KB

controls and procedures;

controls and procedures; risk that we fail to meet the requirements of the agreements under which we acquired our business interests, including any cash payments to the business operations, which could result in the loss of our right to continue to operate or develop the specific businesses described in the agreements; risk that we will be unable to secure additional financing in the near future in order to commence and sustain our planned development and growth plans; risk that we cannot attract, retain and motivate qualified personnel, particularly employees, consultants and contractors for our operations; risks and uncertainties relating to the various industries and operations we are currently engaged in; results of initial feasibility, pre-feasibility and feasibility studies, and the possibility that future growth, development or expansion will not be consistent with our expectations; risks related to the inherent uncertainty of business operations including profit, cost of goods, production costs and cost estimates and the potential for unexpected costs and expenses; risks related to commodity price fluctuations; the uncertainty of profitability based upon our history of losses; risks related to failure to obtain adequate financing on a timely basis and on acceptable terms for our planned development projects; risks related to environmental regulation and liability; risks related to tax assessments; or other risks and uncertainties related to our prospects, properties and business strategy. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance or achievements. You should not place undue reliance on these forward-looking statements, which speak only as of the date of this report. Except as required by law, we do not undertake to update or revise any of the forward-looking statements to conform these statements to actual r

Business

Business 4 Item 1A. Risk Factors 8 Item 1B. Unresolved Staff Comments 29 Item 1C. Cybersecurity 29 Item 2.

Properties

Properties 29 Item 3. Legal Proceedings 29 Item 4. Mine Safety Disclosures 29 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 30 Item 6. Selected Financial Data 32 Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A. Quantitative and Qualitative Disclosures about Market Risk 35 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 36 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosures 67 Item 9A.

Controls and Procedures

Controls and Procedures 67 Item 9B. Other Information 68 PART III Item 10. Directors, Executive Officers and Corporate Governance 70 Item 11.

Executive Compensation

Executive Compensation 72 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 73 Item 13. Certain Relationships and Related Transactions, and Director Independence 75 Item 14. Principal Accounting Fees and Services 75 PART IV Item 15. Exhibits 76 Item 16. Form 10-K Summary 76

Signatures

Signatures 77 3 PART I Item 1. Business. Overview Global Technologies, Ltd ("Global Technologies") was incorporated under the laws of the State of Delaware on January 20, 1999 under the name of NEW IFT Corporation. On August 13, 1999, the Company filed an Amended and Restated Certificate of Incorporation with the State of Delaware to change the name of the corporation to Global Technologies, Ltd. Our principal executive office is located at 8 Campus Drive, Suite 105 Parsippany, New Jersey 07054 and our telephone number is (973) 233-5151. Our website address is www.globaltechnologiesltd.info . The information provided on our website is not part of this Annual Report and is therefore not incorporated by reference unless such information is otherwise specifically referenced elsewhere in this Annual Report. Current Operations Global Technologies, Ltd is a multi-operational company with a strong desire to drive transformative innovation and sustainable growth across the technology and service sectors, empowering businesses and communities through advanced, scalable solutions that enhance connectivity, efficiency, and environmental stewardship. The Company envisions a future where technology seamlessly integrates into every aspect of life, improving the quality of life and the health of the planet. Our vision is to lead the industries we serve with groundbreaking initiatives that set new standards in innovation, customer experience, and corporate responsibility, thereby creating enduring value for all shareholders. Our wholly owned operating subsidiaries: About 10 Fold Services, LLC 10 Fold Services, LLC ("10 Fold Services") was formed as a Wyoming limited liability company on November 22, 2023. 10 Fold Services is a strategic consulting and procurement agency specializing in go-to-market planning and execution for companies in the health and wellness industries. Leveraging an "automation-first" approach, the Company skillfully combines internal and

View Full Filing

View this 10-K filing on SEC EDGAR