Global Technologies Ltd. Files Q2 FY25 10-Q

TL;DR

GTLL 10-Q filed for Q2 FY25 ending 12/31/24. Check financials.

AI Summary

Global Technologies Ltd. filed its 10-Q for the period ending December 31, 2024. The filing covers the second quarter of fiscal year 2025, with financial data reported as of December 31, 2024, and comparative periods. The company is incorporated in Delaware and operates in the Radio & TV Broadcasting & Communications Equipment sector.

Why It Matters

This 10-Q filing provides investors with an update on Global Technologies Ltd.'s financial performance and position for the second quarter of fiscal year 2025, crucial for understanding the company's ongoing operations and health.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating any immediate or significant new risks.

Key Numbers

• Q2 2025 — Fiscal Quarter (The filing covers the second quarter of the fiscal year.)
• 2024-12-31 — Reporting Period End Date (Financials are reported as of this date.)
• 2025-02-14 — Filing Date (The date the 10-Q was submitted to the SEC.)

Key Players & Entities

• GLOBAL TECHNOLOGIES LTD (company) — Filer of the 10-Q
• 20241231 (date) — End of the reporting period
• 20250214 (date) — Filing date
• 0000932021 (company) — Central Index Key for Global Technologies Ltd.
• DE (location) — State of incorporation
• 07054 (location) — ZIP code for Parsippany, NJ

FAQ

Filing Documents

• form10-q.htm (10-Q) — 1134KB
• ex21-1.htm (EX-21.1) — 8KB
• ex31-1.htm (EX-31.1) — 17KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 7KB
• 0001493152-25-006730.txt ( ) — 5429KB
• gtll-20241231.xsd (EX-101.SCH) — 40KB
• gtll-20241231_cal.xml (EX-101.CAL) — 61KB
• gtll-20241231_def.xml (EX-101.DEF) — 172KB
• gtll-20241231_lab.xml (EX-101.LAB) — 288KB
• gtll-20241231_pre.xml (EX-101.PRE) — 252KB
• form10-q_htm.xml (XML) — 869KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Consolidated Financial Statements (Unaudited)

Item 1. Consolidated Financial Statements (Unaudited) Condensed Consolidated Balance Sheets as of December 31, 2024 (Unaudited) and June 30, 2024 (Audited) 1 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficiency) for the three and six months ended December 31, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 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 22

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk 27

Controls and Procedures

Item 4. Controls and Procedures 27

– OTHER INFORMATION

PART II – OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 28

Risk Factors

Item 1A. Risk Factors 28

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

Item 2. Recent Sales of Unregistered Securities; Use of Proceeds from Registered Securities 28

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 28

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 28

Other Information

Item 5. Other Information 28

Exhibits

Item 6. Exhibits 29 EXHIBIT INDEX 29

SIGNATURES

SIGNATURES 30 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, 2024 (Unaudited) and June 30, 2024 (Audited) 1 Condensed Consolidated Statements of Operations for the three and six months ended December 31, 2024 and 2023 (Unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficiency) for the three and six months ended December 31, 2024 and 2023 (Unaudited) 3 Condensed Consolidated Statements of Cash Flows for the six months ended December 31, 2024 and 2023 (Unaudited) 4 Notes to Condensed Consolidated Financial Statements 5 GLOBAL TECHNOLOGIES, LTD CONDENSED CONSOLIDATED BALANCE SHEETS December 31, 2024 June 30, 2024 (Unaudited) (Audited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 63,896 $ 115,747 Accounts receivable 247,009 184,692 Prepaid deposits 225,000 225,000 Total current assets 535,905 525,439 Property and equipment, less accumulated depreciation of $ 46,752 and $ 34,756 352,611 126,607 Goodwill 7,685,636 7,685,636 Intangible properties 25,000 25,000 Total other assets 8,063,247 7,837,243 TOTAL ASSETS $ 8,599,152 $ 8,362,682 LIABILITIES AND STOCKHOLDERS' EQUITY CURRENT LIABILITIES Accounts payable $ 73,753 $ 90,785 Accrued interest 104,469 85,650 Accrued executive compensation - 58,333 Notes payable-third parties 320,000 435,000 Loans payable, related party 32,929 68,269 Contingent consideration 5,764,227 5,764,227 Derivative liability 327,947 327,947 Total current liabilities 6,623,325 6,830,211 TOTAL LIABILITIES 6,623,325 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 December 31, 2024 and June 30, 2024, there are 0 and 3 shares outstanding, respectively - - Series N; 2,000,000 shares authorized, par value $ 0.01 , as of December 31, 2024 and June 30, 2024,

View Full Filing

View this 10-Q filing on SEC EDGAR