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Global Technologies (OTC Pink: GTLL) announced that its subsidiary, GOe3, , has secured its initial GSA registration, positioning the company for future government schedules, grants, and tax credits. GOe3 also signed a $10 million sales agreement with tiny-home developers Freedom-2-Thrive and Eagle Log Cabins to supply 1,000 EV Level 2 bi-directional home charging stations. This partnership aims to advance sustainable living solutions and promote smarter energy consumption. GOe3's collaboration may also provide property owners and employees with potential tax credits and grants facilitated by the Department of Energy (DOE).
Global Technologies (OTC: GTLL) announced its financial results for Q1 2024, showing significant improvements and a strategic shift from real estate to technology and service sectors. The company reported $451,509 in revenue, up from $14,000 the previous year, and a gross profit of $87,310, up from $14,000. Net income increased to $2,756,900 compared to a net loss of $668,382 last year, due to increased revenue, the sale of commercial property, and a gain on derivative liability.
Shareholder deficiency improved from -$4,528,007 to -$630,878. The company's restructuring includes a focus on health and wellness through its 10 Fold Services subsidiary and EV infrastructure via GOe3. CEO Fredrick Cutcher highlighted the successful transition and strategic realignment, which positions the company for sustained growth in these sectors.
