Global Technologies Completes Asset Acquisition, Incurs Debt
Ticker: GTLL · Form: 8-K · Filed: Apr 3, 2024 · CIK: 932021
Sentiment: neutral
Topics: acquisition, debt, financial-obligation
TL;DR
GT acquired assets, took on debt. Big changes coming.
AI Summary
Global Technologies, Ltd. announced on April 3, 2024, the completion of its acquisition of assets from a third party, effective March 26, 2024. This transaction also resulted in the creation of a direct financial obligation for the company. The filing includes financial statements and exhibits related to this event.
Why It Matters
The acquisition of assets and the resulting financial obligation could significantly impact Global Technologies' financial structure and future operational capacity.
Risk Assessment
Risk Level: medium — Acquisitions and new debt obligations introduce financial and operational risks that require careful management.
Key Players & Entities
- GLOBAL TECHNOLOGIES LTD (company) — Registrant
- 000-25668 (company) — SEC File Number
- 86-0970492 (company) — IRS Employer Identification No.
- April 3, 2024 (date) — Date of Report
- March 26, 2024 (date) — Date of earliest event reported
FAQ
What specific assets were acquired by Global Technologies, Ltd.?
The filing states the completion of an acquisition of assets but does not specify the nature or details of these assets.
What is the nature of the direct financial obligation incurred by Global Technologies, Ltd.?
The filing confirms the creation of a direct financial obligation but does not provide details on its terms, amount, or lender.
What was the effective date of the asset acquisition?
The asset acquisition was effective as of March 26, 2024.
What is the principal business address of Global Technologies, Ltd.?
The principal executive office is located at 8 Campus Dr., Suite 105, Parsippany, NJ 07054.
What is the SIC code for Global Technologies, Ltd.?
The Standard Industrial Classification code is 3663, for RADIO & TV BROADCASTING & COMMUNICATIONS EQUIPMENT.
Filing Stats: 699 words · 3 min read · ~2 pages · Grade level 11.5 · Accepted 2024-04-03 08:30:45
Key Financial Figures
- $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share GTLL OTC Mark
- $3,717,778 — for an aggregate cash purchase price of $3,717,778, subject to certain adjustments within
Filing Documents
- form8-k.htm (8-K) — 41KB
- ex99-1.htm (EX-99.1) — 12KB
- form8-k_001.jpg (GRAPHIC) — 4KB
- ex99-1_001.jpg (GRAPHIC) — 4KB
- 0001493152-24-012914.txt ( ) — 243KB
- gtll-20240403.xsd (EX-101.SCH) — 3KB
- gtll-20240403_lab.xml (EX-101.LAB) — 33KB
- gtll-20240403_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 3KB
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. GLOBAL TECHNOLOGIES, LTD Date: April 3, 2024 By: /s/ Fredrick Cutcher Name: Fredrick Cutcher Title: Chief Executive Officer