GTLL Global Technologies Ltd (PK)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported) February 20, 2025

 

Global Technologies, LTD

(Exact name of registrant as specified in its charter)

 

Delaware		000-25668		86-0970492
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

8 Campus Dr., Suite 105, Parsippany,		NJ 07054
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number, including area code (973) 233-5151

 

Not Applicable

(Former name or former address, if changed since last report.)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

  

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Class A Common Stock		GTLL		OTC Markets “PINK”

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

 

Item 7.01 Regulation FD Disclosure

 

On February 20, 2025, the Company issue a press release announcing its financial results for the quarter ended on December 31, 2024 with highlight on major accomplishments and future strategic plans for the company. A copy of the Company’s press release is attached as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Item 7.01 (including Exhibit 99.1) shall not be deemed “filed” for purposes of Section 18 of the Security Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except expressly set forth by specific reference in such a filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

Exhibit No.		Description
99.1		Press Release Date February 20, 2025
104		Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

 

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 hereunto duly authorized.

 

GLOBAL TECHNOLOGIES, LTD

(Registrant)

 

Date February 20, 2025

 

	/s/ H. Wyatt Flippen
	(Signature)*

 

 

 

Exhibit 99.1

 

 

Global Technologies, Ltd. Announces Second Consecutive Quarter of Record-Breaking Revenue and Profitability Following Successful Reorganization

 

Parsippany, NJ – February 20, 2025 – Global Technologies, LTD (OTC: GTLL), a multi-operational company driving innovation and sustainable growth across the technology and service sectors, is pleased to announce a its financial results for the second quarter ended December 31, 2024, marking a significant milestone in the Company’s strategic growth and profitability.

 

Financial Highlights:

 

Fiscal 2nd Quarter		Fiscal 6 Months (Cumulative)
Revenue: $917,077		Revenue: $1,586,508
Gross Profit: $372,582		Gross Profit: $850,124
Net Income: $186,807		Net Income: $443,356

 

Strategic Reorganization and Leadership Evolution

 

The remarkable financial turnaround of Global Technologies, Ltd. is largely attributed to the 2024 strategic plan, developed by Frederick Cutcher and the Board of Directors, which laid the foundation for the Company’s new operational growth model. This plan, executed throughout 2024, established a clear structure for expansion, fueling the creation of 10 Fold Services, the Company’s primary revenue-generating subsidiary.

 

Wyatt Flippen, a former consultant for the company, was brought on as CEO in November 22, 2024, to further refine and execute the Company’s vision. Since joining, Flippen has instilled strengthened financial oversight and strategic discipline, complementing Cutcher’s leadership in scaling 10 Fold Services. Cutcher continues to focus on expanding 10 Fold, while also serving as a key board member and providing valuable strategic direction.

 

CEO’s Vision for the Future

 

“The transformation we’ve seen in just a short period has been incredible,” said Wyatt Flippen, CEO of Global Technologies, Ltd. “Frederick Cutcher and the Board set the stage for success in 2024 with a strong strategic plan, and since stepping in as CEO, my focus has been on adding financial depth, operational discipline, and long-term planning. We’re seeing the direct results of those efforts, and we’re just getting started.”

 

He continued, “Top line revenue for Calendar 2024 is just over $2.6 million, and we expect to secure several new contracts that could further accelerate our revenue and profitability inside 10 Fold Services. My mission remains clear—to drive sustainable profitability and deliver shareholder value.”

 

 

Evaluating GoE3 and Future Growth Opportunities

 

The Company is currently assessing the feasibility of its second subsidiary, GoE3, which was originally conceived as an EV charging solutions provider.

 

“GoE3 is still in its early stages, and while we’ve made limited capital investments, we are carefully analyzing its long-term viability in the current geopolitical and economic landscape,” Flippen stated. “With shifts in government policies, particularly around clean energy incentives, we must be prudent in

 

evaluating whether GoE3 can provide immediate shareholder value. If we determine it does not align with our near-term objectives, we will have no hesitation in shelving the project.”

 

A Future Built on Growth & Expansion

 

Global Technologies, Ltd. is committed to continuously evaluating new subsidiary opportunities that align with its mission to drive revenue, profitability, and ultimately, maximize shareholder returns. The Company remains focused on building sustainable businesses that create long-term value, leveraging a combination of operational execution, financial discipline, and strategic innovation.

 

About Global Technologies, Ltd.:

 

Global Technologies, Ltd. is a multi-operational company that is driving innovation and sustainable growth across the technology and service sectors. With a strategic focus on the health and wellness and electric vehicle industries through its subsidiaries, the company leverages cutting-edge technology and innovative business models to revolutionize these sectors. Global Technologies is dedicated to enhancing connectivity, efficiency, and environmental stewardship, thereby delivering substantial value to its customers, partners, and shareholders. Its mission is rooted in empowering businesses and communities with scalable solutions that not only meet current demands but also anticipate future needs, ensuring a sustainable and thriving future for all stakeholders.

 

Forward Looking Statements:

 

Statements made in this press release that express the Company or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company’s forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company’s future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues or results of operations.

 

Contact:

 

H. Wyatt Flippen

CEO

Global Technologies, LTD

336.404.7982

w.flippen@globaltechnologiesltd.com

 

 

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Cover	Feb. 20, 2025
Cover [Abstract]
Document Type	8-K
Amendment Flag	false
Document Period End Date	Feb. 20, 2025
Entity File Number	000-25668
Entity Registrant Name	Global Technologies, LTD
Entity Central Index Key	0000932021
Entity Tax Identification Number	86-0970492
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	8 Campus Dr.
Entity Address, Address Line Two	Suite 105,
Entity Address, City or Town	Parsippany
Entity Address, State or Province	NJ
Entity Address, Postal Zip Code	07054
City Area Code	973
Local Phone Number	233-5151
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Title of 12(b) Security	Class A Common Stock
Trading Symbol	GTLL
Entity Emerging Growth Company	false

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