GLOBAL TECHNOLOGIES LTD
For the period ended Dec 31, 2024. Filed Feb 14, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Dec 31, 2024 · Filed Feb 14, 2025
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What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2024-09-30; filed 2024-11-12.
0001493152-24-044515
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2024-12-31; filed 2025-02-14.
0001493152-25-006730
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 71 previous paragraphs and 79 current paragraphs.
49 unchanged; 9 reworded; 18 added; 13 removed; 0 previous and 3 current paragraphs rearranged.
Tables are not compared: 4 previous and 5 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (18)
Current report
Global Technologies Limited (“Global”) is a multi-operational company that spearheads innovation in high-growth industries, focusing on transformative technology and services through its wholly owned operating subsidiaries.
Current report
Selling, general and administrative expenses were $27,130 and $10,264 for the three months ended December 31, 2024 and 2023. The Company’s operating expenses are largely attributable to executive compensation and professional services for the three months ended December 31, 2024.
Current report
Other expenses included interest expense for the three months ended December 31, 2024 of $8,975 compared to $79,009 for the prior year three months. Other expenses were losses on derivative liability and amortization of debt discount for the period ended December 31, 2023.
Current report
Net Income (loss)
Current report
Net income (loss) for the three months ended December 31, 2024 and December 31, 2023 were $186,807 and $(3,455,492), respectively.
Current report
Six months ended December 31, 2024 compared to six months ended December 31, 2023
Current report
Revenue
Current report
For the six months ended December 31, 2024 and 2024, cost of revenues was $736,384 and $0, respectively.
Current report
Gross Profit
Current report
For the six months ended December 31, 2024 and 2023, gross profit was $850,124 and $0, respectively.
Current report
Operating Expenses
Current report
Selling, general and administrative expenses were $70,113 and $59,255 for the six months ended December 31, 2024 and 2023, respectively, representing an increase of $10,858. The Company’s operating expenses for the six months ended December 31, 2024, are primarily attributable to executive compensation, consulting services, software fees, travel expenses, and marketing initiatives. These expenses reflect strategic investments in leadership, business development, and operational infrastructure aimed at sustaining long-term growth. Executive compensation supports the leadership team’s efforts in driving strategic initiatives, while consulting services have been leveraged to enhance sales operations, financial planning, and technological advancements. Software fees account for investments in automation, analytics, and customer management systems, ensuring efficiency and scalability. Travel expenses have been incurred to support business expansion efforts, investor relations, and partnership development, and marketing expenditures have been directed toward brand awareness, customer acquisition, and market positioning. These investments are designed to support continued revenue growth, enhance operational efficiencies, and strengthen the company’s market presence.
Current report
Other Income (Expenses)
Current report
Other income (expenses) were ($1,842,277) and $487,800 for the six months ended December 31, 2023 and 2022, respectively, representing a decrease of $2,330,077, or -477.67%. The other income (expenses) for the six months ended December 31, 2024 included interest expense of ($151,108), amortization of debt discounts of ($692,603) and a loss on derivative liability of ($998,566).rewrite entire paragraph
Current report
Income tax expense
Current report
Net Income (loss)
Current report
For the six months ended December 31, 2024, net income (loss) were $443,356, as compared to net loss of ($2,230,670) for six the months ended December 31, 2023. The increase in net income for the six months ended December 31, 2024 was largely attributable to the Company’s sales growth of its 10 Fold subsidiary..
Current report
Commitments and Contingencies
Removed paragraphs (13)
Previous report
Cost of Revenues
Previous report
Cost of Revenues
Previous report
Selling, general and administrative expenses were $42,984 and $48,991 for the three months ended September 30, 2024 and 2023, respectively, representing a decrease of $6,007, or 12.26%.
Previous report
Other income (expenses) were ($10,095) and $1,550,111 for the three months ended September 30, 2024 and 2023, respectively, representing a decrease of $1,560,206, or -100.65%. The other income (expenses) for the three months ended September 30, 2024 included interest expense of ($10,095). The decrease in other income for the three months ended September 30, 2024 was largely attributable to a gain on derivative liability recognized in the three months ended September 30, 2023 versus no gain in derivative liability recognized in the three months ended September 30, 2024.
Previous report
Net Income
Previous report
For the three months ended September 30, 2024, net income was $256,549, as compared to net income of $1,224,822 for three months ended September 30, 2023, a decrease of $968,273. The decrease in net income for the three months ended September 30, 2024 was largely attributable to the Company’s gain on derivative liability recognized in the three months ended September 30, 2023 versus no gain on derivative liability recognized in the three months ended September 30, 2024.
Previous report
We had cash provided by (used in) operating activities of $217,114 for the three months ended September 30, 2024, compared to ($102,726) for the three months ended September 30, 2023. The net cash provided by operating activities for the three months ended September 30, 2024 consisted primarily of net income of $256,549 offset by accounts payable of $40,000 and accrued compensation of $43,173.
Previous report
We had cash provided by investing activities of $- and $- for the three months ended September 30, 2024 and 2023, respectively
Previous report
We had cash (used in) provided by financing activities of ($40,000) and $97,616 for the three months ended September 30, 2024 and 2023, respectively, of which $40,000 was for payments against convertible notes payable during the three months ended September 30, 2024.
Previous report
Known Trends, Events, Uncertainties and Factors That May Affect Future Operations
Previous report
The impact of general economic conditions, actual and projected, including inflation, rising interest rates, lower consumer confidence, volatile capital markets, supply chain disruptions, uncertainty and volatility in the financial services sector and the impact of the Hamas-Israel and Russia-Ukraine conflicts, and government and business responses thereto, on the global economy and regional economies.
Previous report
Contractual Obligations and Commitments
Previous report
The Company has no debt covenants that require certain financial information to be met.
Reworded paragraphs (9)
Previous wording
Selling, general and administrative expenses consist of selling, marketing, advertising, administrative, finance and professional expenses.
Current wording
Selling, general and administrative expenses consist of selling, marketing, advertising, payroll, administrative, finance and professional expenses.
Previous wording
For the Three Months Ended September 30, 2024 Compared to the Three Months Ended September 30, 2023
Current wording
Three months ended December 31, 2024 compared to three months ended December 31, 2023
Previous wording
The following table sets forth information comparing the components of net income for the three months ended September 30, 2024 and 2023:
Current wording
The following table sets forth information comparing the components of net (loss) income for the three months ended December 31, 2024 and 2023:
Previous wording
For the three months ended September 30, 2024 and 2023, we generated revenue of $669,431 and $0, respectively. Our revenue for the three months ended September 30, 2024 was largely attributable to revenue generated through 10 Fold Services. The Company’s newly acquired subsidiary, GOe3, recognized revenue through the sale of tax credits.
Current wording
For the three months ended December 31, 2024 and 2023, we generated revenue of $917,077 and $0, respectively.
Previous wording
For the three months ended September 30, 2024 and 2023, cost of revenues was $191,889 and $0, respectively. The makeup of the cost of goods sold for the three months ended September 30, 2024 was entirely comprised of costs associated with the revenue derived from 10 Fold Services.
Current wording
For the three months ended December 31, 2024 and 2023, cost of revenues was $544,495 and $0, respectively.
Previous wording
For the three months ended September 30, 2024 and 2023, gross profit was $477,542 and $0, respectively.
Current wording
For the three months ended December 31, 2024 and 2023, gross profit was $372,582 and $0, respectively.
Previous wording
The following table summarizes the cash flows for the three months ended September 30, 2024 and 2023:
Current wording
The following table summarizes the cash flows for the six months ended December 31, 2024 and 2023:
Previous wording
As of September 30, 2024 and 2023, the Company had cash of $292,861 and $13,190, respectively.
Current wording
As of December 31, 2024 and 2023, the Company had cash of $63,896 and $115,747, respectively.
Previous wording
Neither inflation nor changing prices for the three months ended September 30, 2024 had a material impact on our operations.
Current wording
Neither inflation nor changing prices for the six months ended December 31, 2024 had a material impact on our operations.
Rearranged current paragraphs (3)
Current report — wording carried from elsewhere
The following table sets forth information comparing the components of net (loss) income for the six months ended December 31, 2024 and 2023:
Current report — wording carried from elsewhere
For the six months ended December 31, 2024 and 2023, we generated revenue of $1,586,508 and $0, respectively..
Current report — wording carried from elsewhere
There was no income tax expense for the six months ended December 31, 2024 and December 31, 2023.