Global Technologies Announces Strong Financial Results and Strategic Developments for Q3 2024

Global Technologies (OTCMKTS: GTLL) recently disclosed its financial outcomes for the quarter concluding on September 30, 2024. The company demonstrated significant growth in various financial aspects along with notable achievements. A detailed summary of the financial report was issued on November 12, 2024, accompanied by a comprehensive breakdown of accomplishments and strategies for future growth.

According to the financial highlights shared by Global Technologies:

– Shareholder equity witnessed a robust increase of $4,842,205 at September 30, 2024 from the corresponding period in 2023.
– Revenue experienced a remarkable rise of $669,431 for the quarter ending on September 30, 2024, compared to the equivalent period in 2023, marking a 100.00% increase.
– Gross profit surged by $477,542 for the quarter concluding on September 30, 2024, in comparison with the same quarter in 2023, representing a 100.00% rise.
– The net income for the quarter ended September 30, 2024, was reported at $256,549, as opposed to $1,224,822 for the same quarter in 2023. The decline in net income during this quarter mainly stemmed from a gain in derivative liability recognized in 2023, not recognized in 2024.

In a detailed financial commentary, specific aspects were highlighted by Global Technologies:

– Shareholder Equity: The company’s shareholder equity surged to $1,789,020 by September 30, 2024, indicating a $256,549 increase since June 30, 2024, and a notable $4,842,205 rise from September 30, 2023.
– Revenue Generation: Global Technologies reported revenues amounting to $669,431 for the quarter ended September 30, 2024, signifying a substantial increase compared to the same period in 2023.
– Gross Profit: The company achieved a gross profit of $477,542 for the quarter ended September 30, 2024, witnessing a significant improvement from the corresponding quarter in 2023.
– Net Income: The company reported a net income of $256,549 for the quarter ended September 30, 2024, showcasing a decline from the previous year mainly due to specific accounting adjustments.

Additionally, Global Technologies highlighted key accomplishments post-quarter end, including forming PrimeCare Supply, LLC, focusing on debt reduction, enhancing customer relationship management, and aligning with the General Services Administration through GOe3.

Management, led by CEO Fredrick Cutcher, expressed optimism regarding the firm’s growth momentum, emphasizing the maturation of GOe3 and anticipated revenue expansion in the coming year.

Looking forward, Global Technologies remains dedicated to expanding its presence in the health and wellness and electric vehicle sectors. The company is committed to pursuing operational enhancements, revenue growth, and strategic initiatives to drive long-term value for shareholders.

The full Quarterly Report for the quarter ending September 30, 2024, is available on the Securities and Exchange Commission’s website and the company’s official site for further insights.

Global Technologies, Ltd., with its focus on innovation and sustainable growth across technology and service sectors, aims to revolutionize industries and deliver value to stakeholders through connectivity and efficiency.

While looking ahead, the company remains mindful of risks and uncertainties, acknowledging that actual results may differ from forward-looking statements. Global Technologies refrains from offering guarantees on future financial outcomes, urging investors not to solely rely on forward-looking statements for investment decisions.

For further information, interested parties can contact Global Technologies, Ltd.

As the company continues its growth trajectory and strategic advancements, Global Technologies remains a significant player in the evolving technology and service sectors, demonstrating a commitment to sustainable growth and innovative practices.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Global Technologies’s 8K filing here.

Global Technologies Company Profile

Global Technologies, Ltd., through its subsidiaries, engages in the online sale of CBD and hemp related products in the United States. It is involved in sales and distribution, third-party logistics, and consulting services. The company engages in brick-and-mortar retail outlets and e-commerce related businesses.