2023 Q1 Form 10-Q Financial Statement

#000149315223005657 Filed on February 21, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2021 Q4
Revenue $14.00K $45.00K
YoY Change -68.89%
Cost Of Revenue
YoY Change
Gross Profit $14.00K $45.00K
YoY Change -68.89%
Gross Profit Margin 100.0% 100.0%
Selling, General & Admin $4.497K $10.31K $88.25K
YoY Change -96.33% -88.31% -35.59%
% of Gross Profit 73.67% 196.11%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.298K $1.298K $1.300K
YoY Change -0.15% -0.15% 71.05%
% of Gross Profit 9.27% 2.89%
Operating Expenses $46.30K $38.51K $89.56K
YoY Change -62.63% -57.0% -35.0%
Operating Profit -$46.30K -$24.51K -$44.56K
YoY Change -58.86% -44.99% -67.66%
Interest Expense -$622.1K $208.2K $393.7K
YoY Change 199.5% -47.11% -102.09%
% of Operating Profit
Other Income/Expense, Net -$622.1K $208.2K $376.9K
YoY Change 129.77% -44.74%
Pretax Income -$668.4K $183.7K $332.3K
YoY Change 74.38% -44.71% -101.75%
Income Tax
% Of Pretax Income
Net Earnings -$668.4K $183.7K $332.3K
YoY Change 74.38% -44.71% -101.75%
Net Earnings / Revenue 1312.31% 738.47%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $27.64
COMMON SHARES
Basic Shares Outstanding 14.49B shares 14.45B shares
Diluted Shares Outstanding 14.49B shares 14.49B shares

Balance Sheet

Concept 2023 Q1 2022 Q4 2021 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $0.00 $70.00 $617.8K
YoY Change -100.0% -99.99% 11826.06%
Cash & Equivalents $69.00 $617.8K
Short-Term Investments
Other Short-Term Assets $0.00
YoY Change
Inventory
Prepaid Expenses
Receivables $5.000K $5.000K $40.00K
Other Receivables $17.53K $17.53K $18.66K
Total Short-Term Assets $43.19K $38.95K $676.4K
YoY Change -94.08% -94.24% 4925.48%
LONG-TERM ASSETS
Property, Plant & Equipment $19.05K $20.35K $25.54K
YoY Change -21.41% -20.33% -19.74%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $369.1K $370.3K
YoY Change
Total Long-Term Assets $369.1K $370.3K $648.9K
YoY Change -50.63% -42.92% -47.18%
TOTAL ASSETS
Total Short-Term Assets $43.19K $38.95K $676.4K
Total Long-Term Assets $369.1K $370.3K $648.9K
Total Assets $412.2K $409.3K $1.325M
YoY Change -72.09% -69.12% 6.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $52.69K $33.15K $2.730K
YoY Change 1217.33% 1114.36% -99.47%
Accrued Expenses $105.0K $77.59K $29.52K
YoY Change 199.63% 162.84% -88.93%
Deferred Revenue
YoY Change
Short-Term Debt $307.6K $302.3K $319.3K
YoY Change -28.34% -5.33% -68.66%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $1.653M $981.7K $971.9K
YoY Change 41.62% 1.01% -95.6%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $1.653M $981.7K $971.9K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $1.653M $981.7K $971.9K
YoY Change 41.62% 1.01% -95.6%
SHAREHOLDERS EQUITY
Retained Earnings -$167.0M -$166.3M
YoY Change
Common Stock $164.4M $164.4M
YoY Change
Preferred Stock $1.385M $1.385M
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$1.241M -$572.4K $353.4K
YoY Change
Total Liabilities & Shareholders Equity $412.2K $409.3K $1.325M
YoY Change -72.09% -69.12% 6.71%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2021 Q4
OPERATING ACTIVITIES
Net Income -$668.4K $183.7K $332.3K
YoY Change 74.38% -44.71% -101.75%
Depreciation, Depletion And Amortization $1.298K $1.298K $1.300K
YoY Change -0.15% -0.15% 71.05%
Cash From Operating Activities -$5.450K -$3.580K -$57.06K
YoY Change -96.19% -93.73% -159.02%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00 -$150.0K
YoY Change -100.0% -100.0%
Cash From Investing Activities $0.00 $0.00 -$150.0K
YoY Change -100.0% -100.0%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 5.390K 0.000 758.5K
YoY Change -97.88% -100.0% -822.73%
NET CHANGE
Cash From Operating Activities -5.450K -3.580K -57.06K
Cash From Investing Activities 0.000 0.000 -150.0K
Cash From Financing Activities 5.390K 0.000 758.5K
Net Change In Cash -60.00 -3.580K 551.4K
YoY Change -100.54% -100.65% -6767.96%
FREE CASH FLOW
Cash From Operating Activities -$5.450K -$3.580K -$57.06K
Capital Expenditures
Free Cash Flow
YoY Change

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CY2021Q4 us-gaap Net Income Loss
NetIncomeLoss
332312 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
353425 usd
CY2022Q3 us-gaap Stockholders Equity
StockholdersEquity
-756106 usd
CY2022Q4 us-gaap Net Income Loss
NetIncomeLoss
183724 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-572382 usd
CY2021Q2 us-gaap Stockholders Equity
StockholdersEquity
-1045063 usd
us-gaap Stock Issued During Period Value Other
StockIssuedDuringPeriodValueOther
740150 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
206382 usd
us-gaap Net Income Loss
NetIncomeLoss
451956 usd
CY2021Q4 us-gaap Stockholders Equity
StockholdersEquity
353425 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-947748 usd
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
-947748 usd
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
251098 usd
us-gaap Net Income Loss
NetIncomeLoss
124268 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-572382 usd
CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
-572382 usd
us-gaap Net Income Loss
NetIncomeLoss
124268 usd
us-gaap Net Income Loss
NetIncomeLoss
451956 usd
GTLL Gain From Forgiveness Of Debt And Interest
GainFromForgivenessOfDebtAndInterest
449294 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
544017 usd
us-gaap Derivative Gain Loss On Derivative Net
DerivativeGainLossOnDerivativeNet
562995 usd
GTLL Loss On Issuance On Notes Payable
LossOnIssuanceOnNotesPayable
154355 usd
us-gaap Depreciation
Depreciation
2596 usd
us-gaap Depreciation
Depreciation
2598 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
49863 usd
us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
261682 usd
us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
40000 usd
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
8822 usd
us-gaap Increase Decrease In Interest And Dividends Receivable
IncreaseDecreaseInInterestAndDividendsReceivable
277 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
-12000 usd
us-gaap Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
-847 usd
us-gaap Increase Decrease In Finance Receivables
IncreaseDecreaseInFinanceReceivables
14598 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
17590 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1395 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
15176 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
48042 usd
us-gaap Increase Decrease In Employee Related Liabilities
IncreaseDecreaseInEmployeeRelatedLiabilities
18074 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-324425 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-137926 usd
us-gaap Payments To Acquire Notes Receivable
PaymentsToAcquireNotesReceivable
150000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-150000 usd
GTLL Proceeds From Issuance Of Stock For Regulation Financing
ProceedsFromIssuanceOfStockForRegulationFinancing
740150 usd
us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
405 usd
us-gaap Repayments Of Notes Payable
RepaymentsOfNotesPayable
26597 usd
us-gaap Proceeds From Notes Payable
ProceedsFromNotesPayable
136250 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
849398 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-324425 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
561472 usd
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
324494 usd
CY2021Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
56300 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
69 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
617772 usd
GTLL Cancellation Of Common Stock And Stock To Be Issued
CancellationOfCommonStockAndStockToBeIssued
68000 usd
GTLL Cancellation Of Common Stock As Per Court Order
CancellationOfCommonStockAsPerCourtOrder
299100 usd
GTLL Issuance Of Common Stock For Debt And Accrued Interest
IssuanceOfCommonStockForDebtAndAccruedInterest
206382 usd
CY2022Q1 GTLL Agreement Description
AgreementDescription
the Company shall pay Donohoe an initial retainer in the amount of $17,500 and if successful a “success fee”
CY2022Q1 GTLL Success Fee Amount
SuccessFeeAmount
10000 usd
us-gaap Basis Of Accounting
BasisOfAccounting
<p id="xdx_805_eus-gaap--BasisOfAccounting_z3GGMcQ0qNcg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTE B – <span id="xdx_82E_zMqQS4ixNyy">BASIS OF PRESENTATION</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements and with Form 10-Q and Article 10 of Regulation S-X of the United States Securities and Exchange Commission (the “SEC”). Accordingly, they do not contain all information and footnotes required by GAAP for annual financial statements. The condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. In the opinion of the Company’s management, the accompanying unaudited condensed consolidated financial statements contain all the adjustments necessary (consisting only of normal recurring accruals) to present the financial position of the Company as of December 31, 2022 and the results of operations, changes in stockholders’ equity, and cash flows for the periods presented. The results of operations for the three and six months ended December 31, 2022 are not necessarily indicative of the operating results for the full fiscal year or any future period.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended June 30, 2022 as filed with the Securities and Exchange Commission on October 13, 2022. The Company’s accounting policies are described in the Notes to Consolidated Financial Statements in its Annual Report on Form 10-K for the year ended June 30, 2022, and updated, as necessary, in this Quarterly Report on Form 10-Q.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b> </b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GLOBAL TECHNOLOGIES, LTD</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>For the six months ended December 31, 2022 and 2021</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>(Unaudited)</i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify; background-color: white"> </p>
CY2022Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2022Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
69 usd
CY2022Q4 us-gaap Cash Fdic Insured Amount
CashFDICInsuredAmount
0 usd
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p id="xdx_84F_eus-gaap--ConcentrationRiskCreditRisk_zicDCux9eDjg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_862_zOLbuRdUnS4f">Concentrations of Risks</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0.5in; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"/></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><i><span style="text-decoration: underline">Concentration of Accounts Receivable</span></i> –At December 31, 2022 and June 30, 2022, the Company had $<span id="xdx_900_eus-gaap--AccountsAndOtherReceivablesNetCurrent_iI_do_c20221231_zSXTw3icxaxh" title="Accounts receivables">5,000</span> and $<span id="xdx_904_eus-gaap--AccountsAndOtherReceivablesNetCurrent_iI_c20220630_zvaHgtjm5Kuf" title="Accounts receivables">5,000</span> in accounts receivable, respectively. For the six months ended December 31, 2022, one customer accounted for <span id="xdx_904_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--AccountsReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zd51fuOrdJe6" title="Concentration risk percentage">100</span>% of accounts receivable.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><i><span style="text-decoration: underline">Concentration of Revenues</span></i> – For the six months ended December 31, 2022, the Company generated $<span id="xdx_902_eus-gaap--Revenues_c20220701__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--RevenueFromContractWithCustomerMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneCustomerMember_zsAFXTKXVSN4" title="Revenues">14,000</span> in revenue from one customer. For the six months ended December 31, 2021, the Company generated $<span id="xdx_90F_eus-gaap--Revenues_c20210701__20211231_zCXClHjyiS3j" title="Revenues">95,000</span> revenue.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><span style="background-color: white"><i><span style="text-decoration: underline">Concentration of Suppliers</span></i> – The Company relies on a limited number of suppliers and contract manufacturers. In particular, a single supplier is currently the sole manufacturer of the Company’s CBD products.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><i><span style="text-decoration: underline">Concentration of Loans Receivable, Other</span></i> –At December 31, 2022 and June 30, 2022, the Company had $<span id="xdx_907_eus-gaap--OtherReceivablesNetCurrent_iI_do_c20221231__srt--MajorCustomersAxis__custom--OneBorrowerMember_zRxnFRzgEfAa" title="Loans receivables other">17,533</span> and $<span id="xdx_904_eus-gaap--OtherReceivablesNetCurrent_iI_do_c20220630__srt--MajorCustomersAxis__custom--OneBorrowerMember_zWD6biOvFqt4" title="Loans receivables other">18,380</span> in loans receivable, other. At December 31, 2022 and June 30, 2022, one borrower accounted for <span id="xdx_901_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--NotesReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneBorrowerMember_zAMQ3k1gLhB6" title="Concentration risk percentage"><span id="xdx_907_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20210701__20220630__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--NotesReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneBorrowerMember_z2xu8kDVcO62" title="Concentration risk percentage">100</span></span>% of the Company’s total loans receivable, other. The one borrower is controlled by the Company’s sole officer and director.</p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"> </p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"><span style="background-color: white"><i><span style="text-decoration: underline">Concentration of Notes Receivable </span></i>– The Company had notes receivable of $<span id="xdx_905_eus-gaap--NotesAndLoansReceivableNetNoncurrent_iI_do_c20221231__srt--MajorCustomersAxis__custom--OneBorrowerMember_z8GyGUoc3hm3" title="Notes receivable">350,000</span> and $<span id="xdx_903_eus-gaap--NotesAndLoansReceivableNetNoncurrent_iI_do_c20220630__srt--MajorCustomersAxis__custom--OneBorrowerMember_zgQ8p5Wk8Yl8" title="Notes receivable">350,000</span> at December 31, 2022 and June 30, 2022, respectively. At December 31, 2022, one borrower accounted for <span id="xdx_903_eus-gaap--ConcentrationRiskPercentage1_pid_dp_uPure_c20220701__20221231__us-gaap--ConcentrationRiskByBenchmarkAxis__us-gaap--NotesReceivableMember__us-gaap--ConcentrationRiskByTypeAxis__us-gaap--CustomerConcentrationRiskMember__srt--MajorCustomersAxis__custom--OneBorrowerMember_zR4ZtzpEOFoa" title="Concentration risk percentage">100</span>% of the Company’s total notes receivable.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; background-color: white"/> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
5000 usd
CY2022Q2 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
5000 usd
us-gaap Revenues
Revenues
95000 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
33600000000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1500660030 shares
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84E_eus-gaap--UseOfEstimates_zn6cKkJKieL9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86E_z8VofUSk6MTf">Use of Estimates</span></i></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Cash And Equivalents
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedCashAndEquivalents
546411 usd
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Inventory
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInventory
70580 usd
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Property Plant And Equipment
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedPropertyPlantAndEquipment
36363 usd
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Intangible Assets Other Than Goodwill
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedIntangibleAssetsOtherThanGoodwill
653354 usd
CY2019Q4 us-gaap Goodwill
Goodwill
1346646 usd
CY2019Q4 us-gaap Business Combination Recognized Identifiable Assets Acquired Goodwill And Liabilities Assumed Net
BusinessCombinationRecognizedIdentifiableAssetsAcquiredGoodwillAndLiabilitiesAssumedNet
2000000 usd
CY2019Q4 us-gaap Goodwill
Goodwill
1346646 usd
us-gaap Goodwill Period Increase Decrease
GoodwillPeriodIncreaseDecrease
-1346646 usd
us-gaap Asset Impairment Charges
AssetImpairmentCharges
0 usd
CY2022 us-gaap Asset Impairment Charges
AssetImpairmentCharges
473323 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
36363 usd
CY2022Q2 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
36363 usd
CY2022Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
16015 usd
CY2022Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
13419 usd
CY2022Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
20348 usd
CY2022Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
22944 usd
us-gaap Depreciation
Depreciation
2596 usd
us-gaap Depreciation
Depreciation
2598 usd
CY2022Q4 us-gaap Accounts And Notes Receivable Net
AccountsAndNotesReceivableNet
350000 usd
CY2022Q4 us-gaap Accrued Bonuses Current And Noncurrent
AccruedBonusesCurrentAndNoncurrent
18074 usd
CY2022Q4 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
300000 usd
CY2022Q2 us-gaap Notes Payable Related Parties Classified Current
NotesPayableRelatedPartiesClassifiedCurrent
387500 usd
CY2022 GTLL Forgiveness Of Debt Including Accrued Interest
ForgivenessOfDebtIncludingAccruedInterest
449293 usd
CY2022Q4 us-gaap Derivative Liabilities
DerivativeLiabilities
568684 usd
CY2022Q2 us-gaap Derivative Liabilities
DerivativeLiabilities
1272799 usd
us-gaap Convertible Preferred Stock Terms Of Conversion
ConvertiblePreferredStockTermsOfConversion
All shares of the Series K Super Voting Preferred Stock shall rank (i) senior to the Corporation’s (A) Common Stock, par value $0.0001 per share (“Common Stock”), and any other class or series of capital stock of the Corporation hereafter created, except as otherwise provided in clauses (ii) and (iii) of this Section 4, (ii) pari passu with any class or series of capital stock of the Corporation hereafter created and specifically ranking, by its terms, on par with the Series K Super Voting Preferred-Stock and (iii) junior to any class or series of capital stock of the Corporation hereafter created specifically ranking, by its terms, senior to the Series K Preferred Stock, in each case as to distribution of assets upon liquidation, dissolution or winding up of the Corporation, whether voluntary or involuntary
us-gaap Common Stock Voting Rights
CommonStockVotingRights
The holders of the Class A Shares and the Class B Shares shall vote as a single class on all matters submitted to a vote of the stockholders, with each Class A Share being entitled to one (1) vote and each Class B Share being entitled to six (6) votes, except as otherwise provided by law
CY2022Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-166320069 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-324425 usd

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