Current Report Filing (8-k)
December 20 2021 - 04:15PM
Edgar (US Regulatory)
0000932021
false
0000932021
2021-12-20
2021-12-20
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xbrli:shares
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UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): December 20, 2021 (December 14, 2021)
GLOBAL
TECHNOLOGIES, LTD
(Exact
Name of Registrant as Specified in Charter)
Delaware
|
|
000-25668
|
|
86-0970492
|
(State
or other jurisdiction
of
incorporation)
|
|
(Commission
File
Number)
|
|
(IRS
Employer
Identification
No.)
|
501
1st Ave N., Suite
901
St.
Petersburg, FL 44701
(Address
of Principal Executive Office) (Zip Code)
(727)
482-1505
(Registrant’s
Telephone Number, Including Area Code)
(Former
name or former address, if changed since last report)
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐
|
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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|
|
☐
|
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
|
|
☐
|
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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|
|
☐
|
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities
registered pursuant to Section 12(b) of the Act:
Title
of each class
|
|
Trading
Symbol(s)
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Name
of each exchange on which registered
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Class
A Common Stock, $0.0001 par value per share
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GTLL
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OTC
Markets “PINK”
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Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405
of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Item
1.01 Entry into a Material Definitive Agreement.
On
December 14, 2021, the Company (the “Lender”), was issued a Senior Secured Promissory Note (the “Note”) in the
principal amount of $500,000 by Tersus Power, Inc. (the “Borrower”). The Note shall bear interest at 5% annually, be amortized
over 25 years and the Borrower shall pay the full amount of principal and interest in one balloon payment on December 14, 2026 (the “Maturity
Date”). The Note is secured, through a Security Agreement, by all current and future assets of the Borrower. The Lender shall advance
the Borrower funds, up to $500,000, prior to the closing of the proposed merger between the Lender and the Borrower. The first
tranche, in the amount of $37,500, was advanced by the Lender on December 14, 2021. As of the date of this filing,
the Lender has advanced the Borrower $150,000.
Item
9.01 Financial Statements and Exhibits.
(d) Exhibits.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by
the undersigned thereunto duly authorized.
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GLOBAL
TECHNOLOGIES, LTD
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|
|
|
Date:
December 20, 2021
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By:
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/s/
Jimmy W. Anderson
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Name:
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Jimmy
W. Anderson
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|
Title:
|
Chief
Executive Officer
|
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