Global Technologies Ltd. Files Q1 2025 10-Q

Ticker: GTLL · Form: 10-Q · Filed: Nov 12, 2024 · CIK: 932021

Sentiment: neutral

Topics: 10-Q, quarterly-report, financials

Related Tickers: GTLL

TL;DR

GTLL 10-Q filed. Financials updated for Q1 2025. Check it out.

AI Summary

Global Technologies Ltd. filed its 10-Q for the period ending September 30, 2024. The company, operating in radio & TV broadcasting & communications equipment, reported its financial status. Key financial data points and stock information, including Series K and N Preferred Stock, as well as Common Class A and Common Stock, were detailed for the periods ending September 30, 2024, and June 30, 2024.

Why It Matters

This filing provides investors with an update on Global Technologies Ltd.'s financial performance and position as of the end of the first fiscal quarter of 2025.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information.

Key Numbers

Key Players & Entities

FAQ

What is the primary business of Global Technologies Ltd.?

Global Technologies Ltd. operates in the RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT industry, SIC code 3663.

What period does this 10-Q filing cover?

This 10-Q filing covers the period ending September 30, 2024, which corresponds to the first quarter of fiscal year 2025.

When was this 10-Q filed with the SEC?

This 10-Q was filed on November 12, 2024.

What types of preferred stock are mentioned in the filing data?

The filing data mentions GTLL:SeriesKPreferredStockMember and GTLL:SeriesNPreferredStockMember.

What is the company's principal business address?

The company's business address is 8 CAMPUS DR., SUITE 105, PARSIPPANY, NJ 07054.

Filing Stats: 4,418 words · 18 min read · ~15 pages · Grade level 19 · Accepted 2024-11-12 07:30:33

Filing Documents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements (Unaudited)

Item 1. Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of September 30, 2024 (Unaudited) and June 30, 2024 (Audited) 1 Condensed Consolidated Statements of Operations for the three months ended September 30, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficiency) for the three months ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the three months ended September 30, 2024 and 2023 (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 26

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 30

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 31

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

Item 2. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities 31

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 31

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 31

Other Information

Item 5. Other Information 31

Exhibits

Item 6. Exhibits 32 EXHIBIT INDEX 32

SIGNATURES

SIGNATURES 33 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 September 30, 2024 (Unaudited) and June 30, 2024 (Audited) 1 Condensed Consolidated Statements of Operations for the three months ended September 30, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficiency) for the three months ended September 30, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the three months ended September 30, 2024 and 2023 (Unaudited) 4 Notes to Condensed Consolidated Financial Statements 5 GLOBAL TECHNOLOGIES, LTD CONDENSED CONSOLIDATED BALANCE SHEETS September 30, 2024 June 30, 2024 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 292,861 $ 115,747 Accounts receivable 156,610 184,692 Prepaid deposits 225,000 225,000 Total current assets 674,471 525,439 Property and equipment, less accumulated depreciation of $ 40,754 and $ 34,756 120,609 126,607 Goodwill 7,685,636 7,685,636 Intangible properties 25,000 25,000 Total other assets 7,831,245 7,837,243 TOTAL ASSETS $ 8,505,716 $ 8,362,682 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 50,348 $ 90,785 Accrued interest 95,745 85,650 Accrued executive compensation 15,160 58,333 Notes payable-third parties 395,000 435,000 Loans payable, related party 68,269 68,269 Contingent consideration 5,764,227 5,764,227 Derivative liability 327,947 327,947 Total current liabilities 6,716,696 6,830,211 TOTAL LIABILITIES $ 6,716,696 $ 6,830,211 STOCKHOLDERS' EQUITY: Preferred stock; 5,000,000 shares authorized, $ .01 par value: Series K; 3 shares authorized, par value $ 0.01 , as of September 30, 2024 and June 30, 2024, there are 3 shares outstanding - - Series N; 2,000,000 shares authorized, par value $ 0.01 , as of September 30, 2024 and June 30, 2024, there are 1,86

View Full Filing

View this 10-Q filing on SEC EDGAR

View on Read The Filing