secwatch.observer — SEC 8-K summary
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Issuer:     GLOBAL TECHNOLOGIES LTD (GTLL)
CIK:        0000932021
Form:       8-K
Filed at:   2022-01-21T23:59:59+00:00
Accession:  0001493152-22-001955
Event type: debt
Sentiment:  negative
Materiality: 0.70
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Global Technologies issues $43,750 convertible note with 39% discount; 286.9M shares reserved
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- $43,750 convertible note issued to Sixth Street Lending, 8% interest, matures Jan 13, 2023; convertible after 180 days at 61% of lowest 10-day bid price.
- 286,885,245 shares reserved for conversion, representing six times the shares issuable at current conversion price.
- Default interest of 22% applies to unpaid amounts; note carries 4.99% beneficial ownership limitation.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932021/000149315222001955/0001493152-22-001955-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932021/000149315222001955/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-001955

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer