secwatch.observer — SEC 8-K summary
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Issuer:     GLOBAL TECHNOLOGIES LTD (GTLL)
CIK:        0000932021
Form:       8-K
Filed at:   2023-07-21T23:59:59+00:00
Accession:  0001493152-23-025244
Event type: debt
Sentiment:  neutral
Materiality: 0.20
Item codes: 1.01, 2.03, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Global Technologies issues $20K convertible note to Hillcrest Ridgewood Partners
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- $20,000 principal, 8% annual interest, maturity July 18, 2024.
- Conversion price of $0.0001 per share, adjustable for stock splits/dividends.
- Default interest 18% per annum; default amount equals 150% of outstanding principal plus accrued interest.
- Issuance exempt from registration under Securities Act Section 4(a)(2) and Rule 506(b).
- Note convertible anytime at holder's option; shares to be issued without restrictive legends after 6 months.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/932021/000149315223025244/0001493152-23-025244-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/932021/000149315223025244/form8-k.htm
  HTML page:      https://secwatch.observer/filing/0001493152-23-025244

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