Global Technologies Ltd. Files 10-Q for Period Ending December 31, 2023

TL;DR

<b>Global Technologies Ltd. has submitted its quarterly 10-Q filing for the period ending December 31, 2023.</b>

AI Summary

GLOBAL TECHNOLOGIES LTD (GTLL) filed a Quarterly Report (10-Q) with the SEC on February 6, 2024. Global Technologies Ltd. filed a 10-Q report for the period ending December 31, 2023. The filing covers the quarterly period from October 1, 2023, to December 31, 2023. It also includes comparative data for the fiscal year-to-date period from July 1, 2023, to December 31, 2023. The company's fiscal year ends on June 30. The filing was made on February 6, 2024.

Why It Matters

For investors and stakeholders tracking GLOBAL TECHNOLOGIES LTD, this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and position for the most recent quarter. The detailed financial information allows stakeholders to assess the company's progress and make informed investment decisions.

Risk Assessment

Risk Level: low — GLOBAL TECHNOLOGIES LTD shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial events or disclosures that would elevate the risk level.

Analyst Insight

Monitor future filings for detailed financial results and operational updates to assess performance trends.

Key Numbers

• 2023-12-31 — Period End Date (Conformed Period of Report)
• 2024-02-06 — Filing Date (Filed as of Date)
• 0630 — Fiscal Year End (Fiscal Year End)
• Q2 2024 — Quarter Identifier (Quarterly period identifier)

Key Players & Entities

• GLOBAL TECHNOLOGIES LTD (company) — Filer name
• 0000932021 (company) — Central Index Key
• DE (jurisdiction) — State of Incorporation
• 0630 (date) — Fiscal Year End
• 1934 Act (regulation) — SEC Act
• 000-25668 (registration) — SEC File Number
• 24601144 (identifier) — Film Number
• 20231231 (date) — Conformed Period of Report

Forward-Looking Statements

• The company will continue to manage its capital structure with both preferred and common stock. (GLOBAL TECHNOLOGIES LTD) — high confidence, target: 2024-06-30

FAQ

Industry Context

The company operates in the Radio & TV Broadcasting & Communications Equipment industry, as indicated by its SIC code 3663.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, which governs the reporting requirements for public companies.

What Investors Should Do

1. Review the full 10-Q document for detailed financial statements and management's discussion and analysis.
2. Compare the reported period's performance against previous quarters and the same period in the prior year.
3. Note any specific disclosures regarding business operations, risks, or legal proceedings.

Key Dates

• 2023-12-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-02-06: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial 10-Q filing provided for analysis; no prior filing data is available for comparison within this context.

Filing Documents

• form10-q.htm (10-Q) — 1074KB
• ex21-1.htm (EX-21.1) — 15KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 6KB
• 0001493152-24-005124.txt (&nbsp;) — 5533KB
• gtll-20231231.xsd (EX-101.SCH) — 39KB
• gtll-20231231_cal.xml (EX-101.CAL) — 55KB
• gtll-20231231_def.xml (EX-101.DEF) — 182KB
• gtll-20231231_lab.xml (EX-101.LAB) — 302KB
• gtll-20231231_pre.xml (EX-101.PRE) — 256KB
• form10-q_htm.xml (XML) — 878KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements (Unaudited)

Item 1. Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of December 31, 2023 (Unaudited) and June 30, 2023 1 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2023 and 2022 (Unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Deficiency for the three and six months ended December 31, 2023 and 2022 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2023 and 2022 (Unaudited) 4

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 24

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk 29

Controls and Procedures

Item 4. Controls and Procedures 29

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 30

Risk Factors

Item 1A. Risk Factors 30

Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities

Item 2. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities 30

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 30

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 30

Other Information

Item 5. Other Information 30

Exhibits

Item 6. Exhibits 31 EXHIBIT INDEX 31

SIGNATURES

SIGNATURES 32 i USE OF MARKET AND INDUSTRY DATA This Quarterly Report on Form 10-Q includes market and industry data that we have obtained from third-party sources, including industry publications, as well as industry data prepared by our management on the basis of its knowledge of and experience in the industries in which we operate (including our management's estimates and assumptions relating to such industries based on that knowledge). Management has developed its knowledge of such industries through its experience and participation in these industries. While our management believes the third-party sources referred to in this Quarterly Report on Form 10-Q are reliable, neither we nor our management have independently verified any of the data from such sources referred to in this Quarterly Report on Form 10-Q or ascertained the underlying economic assumptions relied upon by such sources. Furthermore, internally prepared and third-party market prospective information, in particular, are estimates only and there will usually be differences between the prospective and actual results, because events and circumstances frequently do not occur as expected, and those differences may be material. Also, references in this Quarterly Report on Form 10-Q to any publications, reports, surveys or articles prepared by third parties should not be construed as depicting the complete findings of the entire publication, report, survey or article. The information in any such publication, report, survey or article is not incorporated by reference in this Quarterly Report on Form 10-Q. Solely for convenience, we refer to trademarks in this Quarterly Report on Form 10-Q without the or the or symbols, but such references are not intended to indicate that we will not assert, to the fullest extent under applicable law, our rights to our own trademarks. Other service marks, trademarks and trade names referred to in this Quarterly Report on Form 10-Q, if any, are the property of the

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements (Unaudited)

Item 1. Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of December 31, 2023 (Unaudited) and June 30, 2023 1 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2023 and 2022 (Unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Deficiency for the three and six months ended December 31, 2023 and 2022 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2023 and 2022 (Unaudited) 4 Notes to Condensed Consolidated Financial Statements 5 GLOBAL TECHNOLOGIES, LTD CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2023 June 30, 2023 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 10,694 $ 18,300 Total current assets 10,694 18,300 Property and equipment, less accumulated depreciation of $ 21,207 and $ 18,611 15,156 17,752 Warehouse building 3,600,000 15,000 Goodwill 2,890,000 - Total other assets 6,505,156 32,752 TOTAL ASSETS $ 6,515,850 $ 51,052 LIABILITIES AND STOCKHOLDERS' DEFICIENCY CURRENT LIABILITIES Accounts payable $ 22,772 $ 31,657 Accrued interest 136,092 74,984 Accrued payroll taxes and withholdings 1,128 - Accrued executive compensation 33,333 - Notes payable-third parties 3,535,000 390,000 Debt discount ( 907,397 ) - Loans payable, related party 124,865 2,250 Contingent consideration 3,400,000 - Derivative liability 3,779,246 1,180,680 Total current liabilities 10,125,039 1,679,571 TOTAL LIABILITIES $ 10,125,039 $ 1,679,571 Commitments and contingencies - - Mezzanine Equity: Common stock to be issued upon conversion of Series L Preferred Stock 3,400,000 2,899,488 Total mezzanine equity 3,400,000 2,899,488 STOCKHOLDERS' DEFICIENCY Preferred stock; 5,000,000 shares authorized, $ .01 par value: Series K; 3 shares authorized, par value $ 0.01 , as of December 31,

View Full Filing

View this 10-Q filing on SEC EDGAR