GlobalTech Corporation reports developments for a U.S.-based technology holding company focused on artificial intelligence, big data and emerging technologies. Company updates describe operating results across telecommunications, broadband services, technology services and retail following its majority acquisition of 123 Investments Limited, d/b/a Moda in Pelle, a UK footwear business with brick-and-mortar and e-commerce operations.
Recurring news themes include AI platform commercialization, operating-subsidiary integration, capital deployment, OTCQB quotation status, capital-structure actions and governance changes. Releases also cover technology partnerships, financial performance, and the use of operating subsidiaries as environments for developing and deploying AI-driven products.
GlobalTech Corporation (GTLK) reported its Q1 2025 financial results, showing significant growth in revenue and margin improvements. The company's net revenue reached $4.3 million, up 17.3% year-over-year. Notably, broadband services revenue surged by 195.6%, now representing 16% of gross revenue, up from 6.3% in Q1 2024.
The company's operating loss improved to $(0.9) million from $(1.2) million in the year-ago period, with operating margins improving to -21.7% from -31%. Net loss decreased to $1.1 million. The company maintained $3.0 million in total cash and equivalents, including $2.7 million in restricted cash. GlobalTech also announced entering an acquisition agreement with Crickslab for a core engine to develop a baseball league management system.
GlobalTech Corporation (GLTK) has entered into a Partnership Agreement with Talina AI Consultancies to advance AI-powered workforce solutions. Through this non-exclusive license agreement, GlobalTech will integrate and market Talina's AI candidate sourcing platform into its ecosystem. The collaboration aims to enhance talent acquisition processes through AI-driven sourcing and screening technology.
The partnership is expected to expand GlobalTech's digital transformation portfolio and drive revenue growth, with potential expansion beyond the Middle East into European and US markets. The integration focuses on streamlining recruitment processes, reducing hiring biases, and creating an AI-powered recruitment ecosystem.
GlobalTech (OTC:GTLK) has secured an exclusive worldwide license to CricksLab's Core Engine software through an all-stock transaction completed on April 7, 2025. The agreement enables GlobalTech to develop similar solutions for bat-and-ball sports like baseball and softball, expanding beyond CricksLab's existing cricket match and league software platform.
The strategic acquisition aims to extend GlobalTech's technology services into the sports vertical, targeting markets across the United States, Latin America, Japan, and Australia. CEO Dan Green emphasized the potential for value creation through adapting CricksLab's technology for professional sports tracking and league organization in these regions.
GlobalTech (GLTK) reported strong financial results for FY2024, with record revenue of $18.3 million, representing a 72% increase from $10.6 million in 2023. The company significantly improved its operating performance, reducing operating losses to $4.1 million from $10.5 million in the previous year.
Operating loss as a percentage of revenue improved to 22% in 2024 from 99% in 2023, while net loss decreased to $3.0 million from $8.3 million. The company maintained a cash position of $822,251 as of December 31, 2024.
As a provider of broadband and telecommunications services in Pakistan through Worldcall Telecom , GlobalTech is experiencing growing demand for its Fiber to the Home (FTTH) broadband services. The company is exploring expansion opportunities and considering a potential Nasdaq uplisting.
GlobalTech (GLTK) reported strong Q3 2024 financial results with net revenues increasing 78% to $5.02 million compared to the previous year's quarter. The growth was primarily driven by higher international termination (telecom) business and technology services. Direct operating costs rose to $4.6 million from $2.2 million due to higher interconnect costs. The company's net loss improved to ($455,818) from ($2.3 million) in the prior year. For the nine months ended September 30, 2024, total revenues reached $13.3 million with Adjusted EBITDA of $646,000. The company achieved 100% conversion ratio in select markets for upsell to broadband services.
American Aires (CSE: WIFI) (OTCQB: AAIRF) has announced a partnership with UFC Lightweight title contender Michael Chandler to promote their EMF protection technology. Chandler joins other notable athletes including RJ Barrett, John Tavares, Maycee Barber, and Tiki Barber as #AiresAthletes brand ambassadors. The partnership includes NIL rights, content creation, and social media collaboration targeting Chandler's 3 million followers and UFC's 700 million global fans. Aires Tech has also secured partnerships with WWE and Canada Basketball. Chandler will face Charles Oliveira at UFC 309 on November 16 at Madison Square Garden, where Aires Tech will host a fan experience.
GlobalTech (OTC US: GLTK) has appointed Muhammad Azhar Saeed, FCA, as its new Chief Financial Officer, effective September 5, 2024. Mr. Saeed brings over 20 years of experience as a senior financial executive within GlobalTech and its subsidiaries. He previously served as Group CFO for WorldCall Group and remains a Director at WorldCall Telecom (PSX:WTL), a GlobalTech subsidiary in Pakistan.
Mr. Saeed also holds board positions in other GlobalTech subsidiaries and is the CEO of WorldCall Services. As a Fellow Member of The Institute of Chartered Accountants of Pakistan, he has extensive experience in financial services, manufacturing, and business services sectors. GlobalTech President Dan Green expressed confidence in Mr. Saeed's ability to contribute to the company's growth strategy and create shareholder value.
GlobalTech (OTC: GLTK) has announced the launch of a Center of Excellence focused on Big Data and artificial intelligence (AI) in Pakistan. The facility, set to be completed by Q1 2025, will be located within WorldCall Telecom , a GlobalTech subsidiary. This strategic move aims to enhance GlobalTech's technological capabilities and support its global market expansion.
The center will house over 200 workstations and utilize WorldCall's data center for global connectivity. It will provide efficient on-premises deployments for projects and play a important role in product development, particularly for Big Data and AI services tailored to corporate and governmental sectors. This initiative is expected to strengthen GlobalTech's position in the technology sector and drive innovation in emerging technologies.
GlobalTech (OTC: GLTK) has appointed Mr. Rene Poisson to its Strategic Advisory Board. The move aims to assist the company in identifying and acquiring strategic assets to generate significant revenue and create shareholder value. Mr. Poisson brings extensive experience from his 30-year tenure at JP Morgan, where he was responsible for the EMEA Credit Risk Organization and involved in various high-level financial operations.
GlobalTech's President, Dan Green, highlighted Poisson's valuable experience and global business contacts as assets for executing the company's expansion plans in the tech and telecom sectors. Poisson's current roles include Chair of the JP Morgan UK Pension Plan and Senior Adviser to Five Arrows Managers LLP. He expressed confidence in GlobalTech's strategy, noting significant opportunities for expansion in telecom and technology worldwide.