---
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"
generated_at: "2026-06-12T22:44:04.949663+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Global Technologies acquires Fox Trot Tango LLC for $6.5M via note assumption and convertible debt

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 1.01, 2.03, 3.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-026017
- JSON: https://secwatch.observer/filing/0001493152-23-026017.json
- Plain text: https://secwatch.observer/filing/0001493152-23-026017.txt

## Key facts
- Material Agreements
  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).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: TXC Services, LLC
  - Value: $6,500,000
  - Effective: 2023-07-25
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/0001493152-23-026017-index.htm
- Material Agreements
  GLOBAL TECHNOLOGIES LTD entered into Securities Purchase Agreement with TXC Services, LLC valued at $1,600,000 (effective 2023-07-25).
  - Action: entry
  - Agreement: equity purchase
  - Counterparty: TXC Services, LLC
  - Value: $1,600,000
  - Effective: 2023-07-25
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/0001493152-23-026017-index.htm
- Material Agreements
  GLOBAL TECHNOLOGIES LTD entered into Guaranty Agreement with TK Management Services, LLC (effective 2023-07-25).
  - Action: entry
  - Agreement: credit facility
  - Counterparty: TK Management Services, LLC
  - Effective: 2023-07-25
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/932021/000149315223026017/0001493152-23-026017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.