Global Technologies (GTLL) has provided an update.
The Company has introduced a new Series N Preferred Stock, issuing 2 million shares with a par value of $0.01, featuring conversion rights and voting powers. Dividends will be paid at the discretion of the Board. Series L Preferred Stock holders benefited from a share exchange agreement, receiving 5,500 Series N shares for each Series L share, with incentives tied to the Company’s potential uplisting to NASDAQ or a National Exchange. This strategic move, which successfully converted all Series L shares, aims to bolster shareholder equity and positions the Company for future growth.
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