GlobalTech Corporation filings document a Nevada public company operating as a technology holding company with telecommunications, broadband, technology services and retail activities. Current reports and annual-report references disclose operating and financial results, segment revenue drivers, platform-development spending and the completed acquisition of a 51% interest in 123 Investments Limited, d/b/a Moda in Pelle.
The filing record also covers material agreements, pro forma and acquired-business financial statements, unregistered equity issuances, Series A Convertible Preferred Stock terms, auditor changes, OTCQB quotation, and proxy matters. Governance and capital-structure disclosures include shareholder voting on reverse-stock-split authority, amendments to charter documents, going-concern disclosure and security-registration status.
GlobalTech Corp. restated its financial statements as of December 31, 2025 and June 30, 2026, and for the three and six months ended June 30, 2026, correcting an error in accounting for deferred-tax-asset realizability. The Audit Committee concluded the prior accounting placed undue reliance on subjective projections of future taxable income and did not appropriately weigh objectively verifiable negative evidence; the affected statements should no longer be relied upon. The restatement also covers the 2025 annual statements and first-quarter 2026 statements.
For the six months ended June 30, 2026, revenue was $21,540,981 versus $9,969,788, while net loss was $3,494,922 versus $2,246,875 and operating loss was $7,092,366 versus $1,901,619. For the three months ended June 30, 2026, revenue was $11,115,971 versus $5,628,068; net income was $534,404, compared with a $1,121,670 loss in the prior-year period. The current-period comparison includes 123 Investments Limited, acquired December 15, 2025; the 2025 comparative figures exclude its transactions.
Disclosure controls remained ineffective as of June 30, 2026, with previously disclosed unremediated material weaknesses and a material weakness related to the tax error. The 1-for-3 reverse stock split became effective August 27, 2026, and common-share and per-share information was retrospectively adjusted.
GlobalTech Corp restated its March 31, 2026 quarterly financial statements to correct an error in accounting for the realizability of deferred tax assets as of December 31, 2025. The audit committee concluded prior financial statements for 2025 and the first and second quarters of 2026 should no longer be relied upon; this amendment includes restated 2025 year-end and first-quarter 2026 statements. The company said its prior analysis did not appropriately weigh objectively verifiable negative evidence and placed undue reliance on subjective projections of future taxable income.
First-quarter 2026 revenue was $10,425,009, versus $4,341,720 a year earlier, while net loss was $4,029,326, versus $1,125,204. Net cash used in operating activities was $307,456, compared with $971,833. Disclosure controls remained ineffective as of March 31, 2026, including previously disclosed material weaknesses and a material weakness related to the accounting error.
A 1-for-3 reverse stock split became effective August 27, 2026; each three shares were combined into one, fractional shares rounded up, and common-share and per-share data were retrospectively adjusted.
GlobalTech Corp (GLTK) amended its 2025 annual report to restate audited financial statements after an error in accounting for deferred tax assets. The company said its prior analysis over-relied on subjective taxable-income projections and did not appropriately weigh objectively verifiable negative evidence. Previously issued 2025, first-quarter 2026 and first-half 2026 statements were deemed unreliable.
Restated 2025 net loss was $11.55 million, versus $2.95 million in 2024. Disclosure controls remained ineffective as of December 31, 2025, and the error led to an additional material weakness in internal control over financial reporting. As of that date, $4.88 million of $8.61 million external debt was in default. GlobalTech said lenders had not served notice of default. As of December 31, 2025, WorldCALL Public's current liabilities exceeded its current assets by $29.42 million; conditions cast significant doubt on its ability to continue as a going concern.
A 1-for-3 reverse stock split took effect August 27, 2026. GlobalTech's 51% Moda in Pelle acquisition carries up to $1 million in earnout consideration, due regardless of results because GlobalTech did not uplist by December 31, 2025 and had not provided the agreed $3 million revolving credit facility by January 15, 2026; it said insufficient cash prevented any amount from being made available.
GlobalTech Corporation (GLTK) said investors should no longer rely on its 2025 annual, first-quarter 2026, and six-month 2026 financial statements, which it plans to amend and restate.
The error involved accounting for deferred tax assets and requires an additional valuation allowance of approximately $8.40 million as of December 31, 2025. Preliminary estimates show 2025 loss after tax increasing from $3.15 million to $11.55 million and basic and diluted loss per share changing from $(0.01) to $(0.04). Total assets are expected to decrease from $103.15 million to $100.50 million, and shareholders’ equity from $39.83 million to $31.43 million. Based on its review to date, the company said the error did not affect cash, cash flows, revenues, or liquidity. Management also identified additional material weaknesses and concluded disclosure controls were ineffective as of December 31, 2025.
Globaltech Corporation (GLTK) reported strong top-line growth for the quarter and six months ended June 30, 2026, driven largely by the December 2025 acquisition of a 51% interest in 123 Investments Limited, which operates the Moda in Pelle footwear business. Second-quarter net revenue rose 98% year over year to $11.1 million, and six‑month net revenue increased 116% to $21.5 million. 123 Investments contributed retail footwear revenue of about $5.2 million in the quarter and $10.4 million year‑to‑date.
Despite higher revenue, operating performance remained weak: second‑quarter operating loss widened to $3.8 million, and first‑half operating loss reached $7.1 million. Reported second‑quarter consolidated net income of $0.5 million (income to common shareholders $0.2 million) was primarily driven by $5.2 million of other income, including a largely non‑cash $2.9 million gain on disposal of two Moda subsidiaries and $1.8 million of dividend income. First‑half results also included $2.8 million of non‑cash share‑based consultancy expense tied to 1,392,000 shares issued for advisory services, contributing to a six‑month net loss of $3.5 million. Liquidity is tight, with $0.8 million of cash, $2.8 million of restricted cash and $8.7 million of debt, including $4.15 million in default and $4.74 million of repayments due over the next 12 months. A 1‑for‑3 reverse stock split has become effective as part of broader efforts to pursue a planned Nasdaq Capital Market listing.
GlobalTech Corp (GLTK) is implementing a 1-for-3 reverse stock split of its outstanding common shares. The split becomes effective at 12:01 a.m. PST on August 27, 2026, with trading expected to begin on a split-adjusted basis on the OTCQB Market that day after FINRA effectiveness.
Every 3 existing shares will be converted into 1 share, reducing outstanding common stock from approximately 152 million shares to approximately 50 million shares, subject to changes before effectiveness. For 20 trading days after effectiveness with FINRA, the stock will trade under GLTKD before reverting to GLTK.
The company states the sole purpose of the reverse split is the Board’s belief that it will likely be necessary to support an application to list on the Nasdaq Capital Market, particularly for bid and/or closing price requirements. The action does not change par value or the authorized number of common or preferred shares; all options, warrants and equity plan share reserves will be proportionally adjusted, and fractional share holders will receive one whole share.
GlobalTech Corporation is a Nevada holding company with telecom, broadband, technology and retail footwear operations in Pakistan, the UAE and the UK. For the quarter ended June 30, 2026, net revenue was $11,115,971 versus $5,628,068 a year earlier. Despite an operating loss of $3,845,265, higher other income of $5,186,995 led to net income of $534,403, including $215,178 attributable to common shareholders.
For the six months, revenue rose to $21,540,981 from $9,969,788, but the company recorded a net loss of $3,494,922 and a comprehensive loss of $5,936,105. Total assets were $96,703,648 and total liabilities $60,022,087; equity attributable to the parent remained negative at $(20,749,415), offset by non‑controlling interest of $57,430,976. Cash and restricted cash totaled $3,617,118, with operating activities using $1,915,639 and financing activities providing $4,024,886, including $2,784,000 from common stock issuance.
The company consolidates WorldCall Telecom Limited as a variable interest entity, which had assets of $48,944,035 and liabilities of $57,227,754. It also consolidates 123 Investments Limited, a footwear group acquired in December 2025 for up to $11.7 million, recognizing $23,641,442 of identifiable intangibles and $4,826,375 of goodwill, along with $1.92 million of contingent consideration.
GlobalTech Corporation filed an amended quarterly report to correct and expand disclosure about unregistered sales of equity securities for the quarter ended March 31, 2026. The amendment restates the section on unregistered sales and adds updated officer certifications, without changing any other prior disclosures.
The company describes an investor relations agreement with ArcStone Branding Inc. involving cash and support fees plus an equity component, including 150,000 restricted shares in six monthly tranches and up to 750,000 additional shares vesting over 180 days from December 12, 2025. It reports issuing 225,000 shares to ArcStone on March 10, 2026, 20,000 shares to an investor relations firm in January 2026, and 107,000 shares to an advisory firm in February 2026 for services.
These issuances relied on exemptions from registration under Section 4(a)(2), Rule 506 of Regulation D, and/or Regulation S, with recipients taking the shares for investment and subject to transfer restrictions and legends. The company reports no use of proceeds from registered securities and no issuer share repurchases. Common shares outstanding totaled 151,071,091 as of May 15, 2026.
Globaltech Corporation engaged MZ Group to lead a strategic investor relations and shareholder communications program. MZ will support investor messaging, targeting, roadshows, media outreach and broader market awareness as Globaltech continues its planned Nasdaq Capital Market uplisting process, which remains subject to Nasdaq approval and listing requirements.
Globaltech operates revenue-generating businesses and AI/data platforms across telecommunications, retail commerce, financial technology, enterprise software, e-commerce and sports technology. Entities it controls generated more than $10.45 million in revenue in the quarter ended March 31, 2026, employ over 460 people worldwide and are supported by approximately $103.7 million in infrastructure assets.
Globaltech Corporation outlines how it is building a disciplined technology holding platform focused on AI, data and SaaS. The company emphasizes measured execution, conservative communication and strict governance over promotional forecasts.
In 2025, Globaltech acquired a 51% controlling interest in 123 Investments Limited DBA Moda in Pelle, a UK premium footwear brand with net revenues of more than $30 million in its last fiscal year, to serve both as an operating asset and a test bed for its ThrivoAI commerce platform. It advanced three key products: the Cadnz digital lending platform, the ThrivoAI retail ERP and e-commerce system, and the Baseball Blitz sports league management platform.
To support growth and balance sheet strength, Globaltech completed a $1.4 million convertible note private placement in September 2025 and an additional $225,000 in December 2025, with notes due in September 2027 unless earlier converted into common stock. The company recently uplisted to the OTCQB Venture Market and has applied to list on the Nasdaq Capital Market, which remains subject to meeting Nasdaq’s initial listing criteria and receiving regulatory approval. Over the next 6 to 12 months, priorities include proof-driven commercialization, tighter KPI and disclosure discipline, and integration across its portfolio under a disciplined capital allocation framework.