{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-020317","form_type":"8-K","ticker":"GTLL","cik":"0000932021","company_name":"GLOBAL TECHNOLOGIES LTD","filed_at":"2023-06-06T23:59:59+00:00","discovered_at":"2026-05-14T18:03:42.915884+00:00","generated_at":"2026-06-14T07:06:22.979729+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"debt","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Global Technologies issues $90K convertible note at $0.0001/share; rescinds prior $40K note","bullets":["Issued $90,000 convertible note to Hillcrest Ridgewood Partners, due May 31, 2024, with 8% annual interest and 18% default rate.","Conversion price fixed at $0.0001 per share, adjustable for stock splits/dividends; prior $40K note rescinded.","Default triggers immediate payment of 150% of outstanding principal plus accrued interest.","Securities sold in unregistered offering under Section 4(a)(2) and Rule 506(b); shares may become unrestricted after six months.","Note convertible at any time; dilution from conversion could be significant given low conversion price."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-020317","json":"https://secwatch.observer/filing/0001493152-23-020317.json","markdown":"https://secwatch.observer/filing/0001493152-23-020317.md","text":"https://secwatch.observer/filing/0001493152-23-020317.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/932021/000149315223020317/0001493152-23-020317-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/932021/000149315223020317/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-14T07:06:22.979729+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1dbc037826f487852c412fa6b0678116c63c20df","claim":"GLOBAL TECHNOLOGIES LTD incurred convertible notes of $90,000 with Hillcrest Ridgewood Partners, LLC at 8% per annum maturing May 31, 2024.","evidence_excerpt":"On May 31, 2023, the Company and the Holder agreed to rescind the Old Convertible Note and issue the Holder a new Convertible Note (the “New Convertible Note”) in the amount of $90,000 and enter into a Securities Purchase Agreement (the “SPA”). The New Convertible Note has a term of one (1) year, Maturity Date of May 31, 2024, and bears interest at 8% per annum.","evidence_source":"SEC 8-K Item 2.03/2.04","evidence_url":"https://www.sec.gov/Archives/edgar/data/932021/000149315223020317/0001493152-23-020317-index.htm","confidence":0.9,"family_label":"Debt Financings","details":[{"label":"Instrument","value":"convertible notes"},{"label":"Principal","value":"$90,000"},{"label":"Counterparty","value":"Hillcrest Ridgewood Partners, LLC"},{"label":"Rate","value":"8% per annum"},{"label":"Maturity","value":"May 31, 2024"},{"label":"Event","value":"incurrence"}],"fact_type":"debt_financing"},{"claim_id":"367d938c62dccf6fd3dc976d2bdd4ecebeae0481","claim":"GLOBAL TECHNOLOGIES LTD terminated Old Convertible Note with Hillcrest Ridgewood Partners, LLC valued at $40,000 (effective 2023-05-31).","evidence_excerpt":"As previously reported in the Company’s Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on May 23, 2023, the Company executed a Convertible Note (the “Old Convertible Note”) payable to Hillcrest Ridgewood Partners, LLC (the “Holder”) in the principal amount of $40,000 on May 17, 2023. On May 31, 2023, the Company and the Holder agreed to rescind the Old Convertible Note and issue the Holder a new Convertible Note (the “New Convertible Note”) in the amount of $90,000 and enter into a Securities Purchase Agreement (the “SPA”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/932021/000149315223020317/0001493152-23-020317-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"termination"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Hillcrest Ridgewood Partners, LLC"},{"label":"Value","value":"$40,000"},{"label":"Effective","value":"2023-05-31"}],"fact_type":"material_agreement"},{"claim_id":"55e6d724121485d4aaf00f44e754eb2174d9cfb1","claim":"GLOBAL TECHNOLOGIES LTD entered into SPA with Hillcrest Ridgewood Partners, LLC (effective 2023-05-31).","evidence_excerpt":"As previously reported in the Company’s Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on May 23, 2023, the Company executed a Convertible Note (the “Old Convertible Note”) payable to Hillcrest Ridgewood Partners, LLC (the “Holder”) in the principal amount of $40,000 on May 17, 2023. On May 31, 2023, the Company and the Holder agreed to rescind the Old Convertible Note and issue the Holder a new Convertible Note (the “New Convertible Note”) in the amount of $90,000 and enter into a Securities Purchase Agreement (the “SPA”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/932021/000149315223020317/0001493152-23-020317-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"Hillcrest Ridgewood Partners, LLC"},{"label":"Effective","value":"2023-05-31"}],"fact_type":"material_agreement"},{"claim_id":"988b5a34f28d5bb9dab23ab68123520fc10582b9","claim":"GLOBAL TECHNOLOGIES LTD entered into New Convertible Note with Hillcrest Ridgewood Partners, LLC valued at $90,000 (effective 2023-05-31).","evidence_excerpt":"As previously reported in the Company’s Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission on May 23, 2023, the Company executed a Convertible Note (the “Old Convertible Note”) payable to Hillcrest Ridgewood Partners, LLC (the “Holder”) in the principal amount of $40,000 on May 17, 2023. On May 31, 2023, the Company and the Holder agreed to rescind the Old Convertible Note and issue the Holder a new Convertible Note (the “New Convertible Note”) in the amount of $90,000 and enter into a Securities Purchase Agreement (the “SPA”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/932021/000149315223020317/0001493152-23-020317-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"notes offering"},{"label":"Counterparty","value":"Hillcrest Ridgewood Partners, LLC"},{"label":"Value","value":"$90,000"},{"label":"Effective","value":"2023-05-31"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}