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Global Technologies, LTD reports corporate updates for an OTC multi-operational company shifting its portfolio toward health and wellness services, digital wellness infrastructure, and pharmaceutical distribution support. Recent announcements cover the formation of GTLL Advisory Group, LLC for advisory and consulting services to medical spas, clinics, wellness centers, and other small and midsize businesses, as well as Primecare Supply, LLC revenue-share activity with a licensed pharmaceutical supplier.
Company news also covers SEC reporting status, independent audit work, restated financial statements, quarterly filings, revenue trends, subsidiary portfolio reviews, leadership changes, and shareholder-equity updates. The recurring themes tie GTLL’s public-company reporting obligations to its operating subsidiaries and its repositioning around health and wellness businesses.
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Global Technologies, Ltd (GTLL) announced a Definitive Share Exchange Agreement with Tersus Power, Inc. on March 9, 2022. The agreement follows a Letter of Intent from November 2021. Upon closing, Tersus shareholders will receive a pro-rata number of shares representing 75% of GTLL's outstanding stock. The merger will prompt a name change to Tersus Power, Inc.
Additionally, GTLL has rescinded a spin-off of its logistics subsidiary, Markets on Main, Inc., allowing it to provide logistics for Tersus Power’s hydrogen fueling facilities. Shareholders will have a Rights Offering to purchase additional Tersus shares.
Global Technologies, Ltd (OTC Pink: GTLL) has announced the launch of online sales for its Sculpt Baby Waist Wrap, a product designed for women, known for its durability and adjustable fit. As part of the expansion, its subsidiary, Markets on Main, Inc. (MOM), has entered into exclusive distribution and marketing management agreements with Amfluent and Chin Industries. The waist wrap, made from high-quality materials, is positioned as a superior option in the market. Presales began on February 8, 2022, with shipments set for March 1, 2022.
Global Technologies, Ltd (OTC Pink: GTLL) announced a significant update regarding its subsidiary Tersus Power, which is developing a proactive hydrogen production management software. This innovative solution aims to implement a zero-touch operational model that optimizes production by adjusting levels based on demand, minimizing overhead, and extending equipment lifespan. The software incorporates advanced analytics for financial insights and predictive planning, applicable to various scales of operation. Tersus Power is positioned to revolutionize hydrogen production dynamics.
Global Technologies, Ltd. (GTLL) announced a spin-off of its subsidiary, Markets on Main, LLC, converting it into a for-profit corporation named Markets on Main, Inc. Shareholders will receive shares based on their current holdings in GTLL. The spin-off is part of a broader merger with Tersus Power, with specific details on the Record Date to be released in mid-January 2022. Following the spin-off, GTLL will retain a 19.99% interest in the new entity, distributing 80.01% of shares to GTLL shareholders.
Global Technologies, Ltd (OTC Pink: GTLL) has announced an update on its subsidiary, Tersus Power, which is generating revenue through multiple channels in the hydrogen industry. Tersus Power has made $1,775,000 in its first year from engineering consulting. Its flagship product, the Modular Hydrogen Fueling Station, is projected to sell for $6.5 million each, aligning with California's goal of expanding hydrogen refueling stations. The demand for hydrogen is rising, with projections for global consumption reaching 80 million tons/year.
Global Technologies, Ltd (OTC Pink: GTLL) announces the appointment of Ed Green, P.E. as Chief Engineer of Tersus Power, effective immediately. Mr. Green brings over 35 years of experience in mechanical design and project management, focusing on hydrogen generation technologies. He will lead the engineering team to develop a compact hydrogen generator, which can be integrated into existing gas stations. This project aims to support the shift to hydrogen fuel for transportation, addressing demand in light-duty and heavy-duty vehicles.
Global Technologies, Ltd (OTC Pink: GTLL) announced updates regarding Tersus Power’s hydrogen production and dispensing station. This innovative station is designed to produce 1,250 kg of hydrogen daily, addressing the rising demand for hydrogen fueling infrastructure. Key benefits include reduced initial investment, lower operational costs, and onsite hydrogen production. This aligns with California's goal of having 1.5 million zero-emission vehicles by 2025, highlighting a significant market opportunity, as the hydrogen sector is projected to reach $130 billion in the USA by 2030.