ST. PETERSBURG, FL, Feb. 26, 2020 (GLOBE NEWSWIRE) — Global Technologies, Ltd (OTC Pink: GTLL), a former technology portfolio company that acquired nascent technology and related innovations, inventions and IP assets to enhance their growth and development is pleased to provide today’s shareholder update on the Company’s current progress and operations.
Over the past six months, the Company has worked to complete its two-year audit for fiscal years 2018 and 2019 and stub period for the six months ended December 31, 2019. The Company is at the end stage of the audit and anticipates the filing of its Registration Statement on Form 10 during the month of March. By filing the Form 10, the Company will become a fully reporting entity with the Securities and Exchange Commission thus increasing transparency for its shareholders.
Prior Operational History
From inception until March 2011, Global Technologies was a technology portfolio company that acquired nascent technology and related innovations, inventions and IP assets to enhance their growth and development. The Company built revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and technology licensing or distribution agreements.
The Company invested primarily in innovative and promising clean/renewable energy or bio-tech technologies that had reached the stage in the critical Technology Development & Demonstration phase of the Innovative Cycle, which includes Prototype, Demonstration and Market Analysis. In March 2011, the Company abandoned its operations.
The Company’s current business plan is to seek a merger candidate for future operations. In implementing a structure for a particular business acquisition, we may become a party to a merger, consolidation, reorganization, joint venture, or licensing agreement with another company or entity. As part of our investigation, we expect to meet personally with management and key personnel, visit and inspect material facilities, obtain independent analysis of verification of certain information provided, check references of management and key personnel, and take other reasonable investigative measures, to the extent of our limited financial resources and management expertise. The manner in which we participate in an opportunity will depend on the nature of the opportunity, the respective needs and desires of both parties, and the management of the opportunity.
At present, the Company has not identified a target acquisition, but anticipates upon filing the Form 10 we will be presented with several candidates.
The company also wishes to remind all shareholders and persons of interest that Global Technologies, Ltd will be making announcements and updates via social media. Updates can be found at our social media channel on Twitter at: https://www.twitter.com/GlobalTechGTLL.
About Global Technologies, Ltd:
Global Technologies, Ltd, based in St. Petersburg, FL, was a technology portfolio company that acquired nascent technology and related innovations, inventions and IP assets to enhance their growth and development. The Company’s previous business model built revenues and asset value through a model of continuous growth, income from or sale of its portfolio holdings, and technology licensing or distribution agreements. The Company is currently seeking a merger candidate. For further information, please visit the Company’s website at https://globaltechnologiesltd.info/
Forward Looking Statements and Disclaimer
Statements made in this press release that express the Company or management’s intentions, plans, beliefs, expectations or predictions of future events, are forward-looking statements. The words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “will” and similar expressions are intended to further identify such forward-looking statements, although not all forward-looking statements contain these identifying words. Those statements are based on many assumptions and are subject to many known and unknown risks, uncertainties and other factors that could cause the Company’s actual activities, results or performance to differ materially from those anticipated or projected in such forward-looking statements. The Company cannot guarantee future financial results; levels of activity, performance or achievements and investors should not place undue reliance on the Company’s forward-looking statements. No information contained in this press release should be construed as any indication whatsoever of the Company’s future financial performance, future revenues or its future stock price. The forward-looking statements contained herein represent the judgment of the Company as of the date of this press release, and the Company expressly disclaims any intent, obligation or undertaking to update or revise such forward-looking statements to reflect any change in the Company’s expectations with regard thereto or any change in events, conditions or circumstances on which any such statements are based. No information in this press release should be construed as any indication whatsoever of the Company’s future revenues or results of operations.
Global Technologies, Ltd