{"schema_version":"secwatch.filing_event.v1","accession":"0001493152-23-026017","form_type":"8-K","ticker":"GTLL","cik":"0000932021","company_name":"GLOBAL TECHNOLOGIES LTD","filed_at":"2023-07-31T23:59:59+00:00","discovered_at":"2026-05-14T18:03:37.078801+00:00","generated_at":"2026-06-12T22:44:04.949663+00:00","sec_items":["1.01","2.03","3.02","9.01"],"event_type":"m_and_a","sentiment":"neutral","materiality_score":0.65,"calibrated_materiality_score":0.65,"confidence":"high","headline":"Global Technologies acquires Fox Trot Tango LLC for $6.5M via note assumption and convertible debt","bullets":["Purchase price of $6,500,000: assumption of $1,500,000 TK Secured Note, issuance of $1,600,000 secured convertible note, and earn-out of up to 680 shares Series L Preferred valued at up to $3,400,000.","Seller Secured Note bears 6% interest, matures July 25, 2024, convertible into common stock at 100% of Market Price, with conversion cap of 9.99%.","Company executed guaranty of TK Secured Note and pledged membership interests of FTT as collateral under Security Agreement and Pledge.","FTT owns a 250,000 sq ft warehouse on 25 acres in Sylvester, GA; transaction closed July 25, 2023.","Convertible note includes events of default, penalties for delayed share delivery, and covenants limiting incurrence of other debt or liens."],"urls":{"canonical":"https://secwatch.observer/filing/0001493152-23-026017","json":"https://secwatch.observer/filing/0001493152-23-026017.json","markdown":"https://secwatch.observer/filing/0001493152-23-026017.md","text":"https://secwatch.observer/filing/0001493152-23-026017.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/0001493152-23-026017-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/form8-k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-12T22:44:04.949663+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":"cf5441bd2fdde42a7c07d9fedbce40072c354a1b","claim":"GLOBAL TECHNOLOGIES LTD entered into Amended and Restated Membership Interest Purchase Agreement with TXC Services, LLC valued at $6,500,000 (effective 2023-07-25).","evidence_excerpt":"On July 25, 2023, the Parties entered into an Amended and Restated Membership Interest Purchase Agreement, Assignment, Secured Convertible Note, Securities Purchase Agreement and a Security Agreement and Pledge of Membership Units.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/0001493152-23-026017-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"TXC Services, LLC"},{"label":"Value","value":"$6,500,000"},{"label":"Effective","value":"2023-07-25"}],"fact_type":"material_agreement"},{"claim_id":"d5e3115448fc95683205b0a90eb2dafaf794ec2e","claim":"GLOBAL TECHNOLOGIES LTD entered into Securities Purchase Agreement with TXC Services, LLC valued at $1,600,000 (effective 2023-07-25).","evidence_excerpt":"On July 25, 2023, the Company and TXC Services, LLC entered into the Seller SPA for the issuance and sale of a Secured Convertible Note with an initial principal amount of $1,600,000 (the “Seller Secured Note”).","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/0001493152-23-026017-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"equity purchase"},{"label":"Counterparty","value":"TXC Services, LLC"},{"label":"Value","value":"$1,600,000"},{"label":"Effective","value":"2023-07-25"}],"fact_type":"material_agreement"},{"claim_id":"f980aa9995748e19193d29450250c213e27cbc26","claim":"GLOBAL TECHNOLOGIES LTD entered into Guaranty Agreement with TK Management Services, LLC (effective 2023-07-25).","evidence_excerpt":"Guaranty Agreement for the benefit of TK Management Services, LLC. On this same date, the Company’s new wholly owned subsidiary, FTT, executed a Deed to Secure Debt in favor of the Seller.","evidence_source":"SEC 8-K Item 1.01/1.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/0001493152-23-026017-index.htm","confidence":0.9,"family_label":"Material Agreements","details":[{"label":"Action","value":"entry"},{"label":"Agreement","value":"credit facility"},{"label":"Counterparty","value":"TK Management Services, LLC"},{"label":"Effective","value":"2023-07-25"}],"fact_type":"material_agreement"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}