| FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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| Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). | |||||||||||||||||
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
GLOBAL TECHNOLOGIES LTD [ GTLL ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 03/31/2021 | ||||||||||||||||||||||||||
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4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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| Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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| 1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
| Code | V | Amount | (A) or (D) | Price | ||||||
| Common Stock | 03/31/2021 | D | 810,000,000(1) | D | $0 | 90,000,000 | D | |||
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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| 1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
| Series L Preferred Stock(1)(3) | $0.01(4) | 03/31/2021 | J | 18 | 03/31/2021 | 03/31/2026 | Common stock | 32,142,857(5) | $0.01 | 18 | D | ||||
| Series L Preferred Stock(3) | $0.01(4) | 03/31/2021 | J | 40(2) | 03/31/2021 | 03/31/2026 | Common stock | 71,428,571(5) | $0.01 | 40 | I | By self as Managing Member | |||
| Explanation of Responses: |
| 1. During the year ended December 31, 2020 and the quarter ended March 31, 2021, Mr. Anderson returned a total 810,000,000 shares of common stock to the Company so that the shares could be used for corporate transactions. On March 31, 2021, the Company and Mr. Anderson agreed to exchange the shares of common stock due Mr. Anderson for shares of the Company's Series L Preferred Stock. Please see the Company's Quarterly Report for the period ended March 31, 2021 for further information. |
| 2. On March 1, 2021, the Company and Around the Clock Partners, LP ("ATC") agreed to exchange the outstanding principal and interest due on a Convertible Promissory Note issued to ATC dated July 27, 2018 for shares of the Company's Series L Preferred Stock. The reporting person is the managing member of ATC. The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. Please see the Company's Quarterly Report for the period ended March 31, 2021 for further information. |
| 3. As of the date of this filing, Mr. Anderson owns 18 shares of the Company's Series L Preferred Stock directly and 50 shares indirectly (Around the Clock Partners, LP- 40 shares and Sylios Corp -10 shares). The reporting person disclaims beneficial ownership of these securities, and this report shall not be deemed an admission that the reporting person is the beneficial owner of the securities for purposes of Section 16 or for any other purpose. |
| 4. Each share of the Company's Series L Preferred stock can be converted into shares of the Company's Class A Common stock based on the following formula: $5,000 divided by .70 times the lowest closing price of the Company's Class A Common Stock for the immediate five-day period prior to the receipt of the Notice of Conversion. |
| 5. The number of shares of common stock issuable upon conversion of the Series B Preferred Stock is based on a stock price of $0.004, which was the Closing stock price of the Company's common stock on May 25, 2021. The number of shares issuable upon conversion may increase or decrease based on the Closing stock price upon conversion of the Series B Preferred Stock. |
| /s/ Jimmy Wayne Anderson | 05/26/2021 | |
| ** Signature of Reporting Person | Date | |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
| * If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
| ** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
| Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. | ||