secwatch.observer — SEC 8-K summary
======================================

Issuer:     GLOBAL TECHNOLOGIES LTD (GTLL)
CIK:        0000932021
Form:       8-K
Filed at:   2022-02-09T23:59:59+00:00
Accession:  0001493152-22-003618
Event type: debt
Sentiment:  negative
Materiality: 0.60
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; 358.6M shares reserved
--------------------------------------------------------------------------------

- Convertible promissory note issued to Sixth Street Lending for $43,750 at 8% interest, due Feb 4, 2023.
- Conversion price set at 61% of market price (39% discount), based on lowest bid price over prior 10 trading days.
- 358,606,557 shares reserved for conversion, representing massive potential dilution.
- Investor is accredited; securities issued under Section 4(a)(2) and Rule 506(b) exemption.
- Note cannot be prepaid; default interest rate 22%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932021/000149315222003618/0001493152-22-003618-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932021/000149315222003618/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-22-003618

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