Global Technologies Approves $5M Stock Repurchase Program
Ticker: GTLL · Form: 8-K · Filed: Jun 27, 2024 · CIK: 932021
Sentiment: bullish
Topics: stock-repurchase, board-approval, shareholder-return
TL;DR
GTLL just authorized a $5M buyback, signaling confidence and potentially boosting EPS.
AI Summary
Global Technologies, Ltd. announced on June 27, 2024, that its Board of Directors approved a new stock repurchase program. The company is authorized to repurchase up to $5.0 million of its common stock through June 25, 2025.
Why It Matters
This repurchase program signals management's confidence in the company's valuation and could potentially increase earnings per share by reducing the number of outstanding shares.
Risk Assessment
Risk Level: low — The filing is a routine announcement of a stock repurchase program, which is a common corporate action with limited immediate risk.
Key Numbers
- $5.0M — Stock Repurchase Authorization (The company is authorized to buy back up to this amount of its common stock.)
- June 25, 2025 — Repurchase Program Expiration (The stock repurchase program is authorized to continue until this date.)
Key Players & Entities
- Global Technologies, Ltd. (company) — Registrant
- $5.0 million (dollar_amount) — Stock repurchase authorization
- June 25, 2025 (date) — Expiration of repurchase program
- June 27, 2024 (date) — Date of report
FAQ
What is the total amount authorized for the stock repurchase program?
The company is authorized to repurchase up to $5.0 million of its common stock.
What is the expiration date of the new stock repurchase program?
The stock repurchase program is authorized through June 25, 2025.
Who approved the stock repurchase program?
The Board of Directors of Global Technologies, Ltd. approved the stock repurchase program.
What type of stock is eligible for repurchase?
The repurchase program authorizes the repurchase of the company's common stock.
What is the filing date of this 8-K report?
The 8-K report was filed on June 27, 2024.
Filing Stats: 1,762 words · 7 min read · ~6 pages · Grade level 12.3 · Accepted 2024-06-27 08:28:47
Key Financial Figures
- $0.0001 — hich registered Class A Common Stock, $0.0001 par value per share GTLL OTC Market
- $0.01 — ted Series N Preferred Stock, par value $0.01. The designation of the new Series N Pr
- $0.50 — on Stock at a fixed conversion price of $0.50. d) Adjustments to Conversion Rate .
Filing Documents
- form8-k.htm (8-K) — 57KB
- ex3-1.htm (EX-3.1) — 42KB
- ex10-1.htm (EX-10.1) — 19KB
- ex99-1.htm (EX-99.1) — 13KB
- form8-k_001.jpg (GRAPHIC) — 11KB
- ex99-1_001.jpg (GRAPHIC) — 16KB
- 0001493152-24-025375.txt ( ) — 372KB
- gtll-20240627.xsd (EX-101.SCH) — 3KB
- gtll-20240627_lab.xml (EX-101.LAB) — 33KB
- gtll-20240627_pre.xml (EX-101.PRE) — 22KB
- form8-k_htm.xml (XML) — 4KB
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: June 27, 2024 By: /s/ Fredrick Cutcher Name: Fredrick Cutcher Title: Chief Executive Officer