$GLTKD

GlobalTech Corp

CIK:0001938338|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
NET REVENUE	$ 11,115,971	$ 5,628,068	$ 21,540,981	$ 9,969,788
Direct operating costs (exclusive of depreciation and amortization shown below)	(7,239,716)	(5,111,388)	(14,746,583)	(9,043,086)
Other operating costs	(7,079,160)	(661,254)	(11,310,792)	(1,302,999)
Depreciation and amortization	(631,431)	(574,873)	(2,540,068)	(1,075,971)
Other expenses	(10,929)	(238,500)	(35,904)	(449,351)
OPERATING LOSS	(3,845,265)	(957,947)	(7,092,366)	(1,901,619)
OTHER:
Other income - net	5,186,995	267,564	5,270,582	486,502
Finance cost	(714,880)	(354,922)	(1,516,118)	(701,660)
INCOME (LOSS) BEFORE TAXATION	626,850	(1,045,305)	(3,337,902)	(2,116,777)
Taxation	(92,446)	(76,365)	(157,020)	(130,098)
NET INCOME (LOSS)	534,403	(1,121,670)	(3,494,922)	(2,246,875)
NET INCOME (LOSS) ATTRIBUTABLE TO:
Common shareholders of GlobalTech Corporation	215,178	(619,163)	(1,904,988)	(1,240,276)
Non - controlling interest (NCI)	319,225	(502,507)	(1,589,934)	(1,006,599)
Total	$ 534,403	$ (1,121,670)	$ (3,494,922)	$ (2,246,875)
Net loss per common share: basic and diluted	$ 0.001	$ (0.004)	$ (0.013)	$ (0.009)
Weighted-average common shares used to compute basic and diluted loss per share	151,499,662	140,592,732	151,166,489	140,592,732

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$ (3,494,922)	$ (2,246,875)
Adjustment for non-cash charges and other items:
Depreciation and amortization	2,540,067	1,075,971
Gain on disposal of subsidiaries	(2,906,360)	0
Gain on disposal of tangible assets	(1,274)	0
Fair value loss on short term investment	13,311
Interest accretion on liabilities	1,494,321	650,495
Liabilities written off on settlements with parties	0	(179,139)
Post-employment benefits	64,932	70,854
Income on deposits, advances and savings accounts	(101,525)	(142,999)
Exchange loss on liabilities	(142,104)	425,854
Changes in operating assets and liabilities:
Stores and spares	(9,962)	10,105
Inventory	4,084,018
Accounts receivables	(141,773)	(284,888)
Advances	(37,539)	234,691
Short term investment	10,825	10,773
Prepayments	(108,491)	(62,614)
Due from related parties	43,904
Other receivables	31,940	290,768
Trade and other payables	(4,581,144)	(135,797)
Increase / (Decrease) in non-current liabilities and assets:
Long term deposits and payables	344,599	266,033
Due to related parties	1,269,503	(235,901)
Long term loans and other assets	960,426	23,733
Post employment benefits paid	(5,155)
Income on deposit and savings accounts	101,525	142,999
Lease rental payments	(324,693)	(67,902)
Finance cost paid	(935,693)	(210,933)
Income tax paid	(84,374)	(43,133)
Net cash used in operating activities	(1,915,639)	(407,905)
CASH FLOWS FROM INVESTING ACTIVITIES
Purchase of property, plant and equipment - net	(149,622)	(35,905)
Acquisition of intangible asset	(343,409)
Advance to a related party	57,150
Proceeds from disposal of subsidiaries	3	0
Net cash used in investing activities	(435,878)	(35,905)
CASH FLOWS FROM FINANCING ACTIVITIES
Repayment of long-term financing	(28,617)	(112,584)
Payment against directors' loan	1,269,503	(94,785)
Issuance of common stock	2,784,000
Net cash generated from (used in) financing activities	4,024,886	(207,369)
Net decrease in Cash and Cash Equivalents	1,673,368	(651,179)
Cash and Cash Equivalent at the beginning of the Period	3,249,747	3,455,270
Exchange effect	(1,305,997)	575,994
Cash and Cash Equivalent at the End of the Period	3,617,118	3,380,085
SUPPLEMENTAL INFORMATION - Cash paid during the period for:
Income taxes	(84,374)	(43,133)
Interest	(935,693)	(210,933)
SUPPLEMENTAL NON-CASH INVESTING ACTIVITIES:
Acquisition of intangible assets	0	(10,000,000)
SUPPLEMENTAL NON-CASH FINANCING ACTIVITIES:
Issuance of common stock	0	10,000,000
The cash and cash equivalent, for cashflow statements, comprises of the following:
Cash and cash equivalent	796,306	709,127
Restricted Cash	2,820,812	2,670,958
Total Cash and Cash Equivalent	$ 3,617,118	$ 3,380,085

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 796,306	$ 528,717
Restricted cash	2,820,812	2,721,030
Accounts receivable - net - Pledge	8,424,830	8,283,057
Short term investments - Pledge	1,026,306	1,037,131
Prepayments	1,068,727	960,235
Stores and spares - Pledged	93,387	835,010
Inventory	1,893,313	5,225,746
Advances	4,370,297	4,332,758
Due from related parties	114,299	158,203
Other receivables	1,438,877	1,426,910
Total current assets	22,047,154	25,508,797
Property, plant and equipment - Mortgage	15,450,699	16,074,411
Operating lease right-of-use assets	1,279,619	1,248,106
Intangible assets - net - Pledge	44,863,560	46,253,581
Goodwill	4,826,375	4,826,375
Advances to related party	3,303,537	3,360,688
Long term receivables and other assets	2,271,707	3,232,132
Deferred tax asset	2,660,997	2,641,751
TOTAL ASSETS	96,703,648	103,145,841
Current liabilities:
Trade and other payables	33,781,968	38,416,828
Current portion of non-current liabilities	9,533,176	8,896,008
Accrued interest	4,385,535	4,044,858
Short term borrowings- Pledge	1,972,123	2,949,049
Due to related parties	401,137	347,416
Provision for taxation - net	699,577	634,002
Total current liabilities	50,773,516	55,288,161
Term finance certificates	0	0
Long term financing - secured	293,218	623,629
Long term financing - Convertible	1,625,000	1,625,000
Long term deposits and payable	2,031,768	1,687,168
License fee payable	163,393	162,228
Operating lease liability	852,459	977,792
Post employment benefits	769,409	704,377
Due to related parties..	3,513,324	2,243,820
Total non-current liabilities	9,248,571	8,024,014
TOTAL LIABILITIES	60,022,087	63,312,175
SHAREHOLDERS' EQUITY:
Preferred stock, $0.0001 par value - authorized 50,000,000 shares of Series A Convertible Preferred Stock 82,800 and 82,800 issued and outstanding at June 30, 2026 and December 31, 2025, respectively	8,280,000	8,280,000
Common stock, $0.0001 par value - 500,000,000 shares authorized and 152,111,091 and 150,719,091 issued and outstanding shares at June 30, 2026 and December 31, 2025, respectively.	15,211	15,072
Additional paid in capital	14,354,182	11,570,321
Accumulated other comprehensive loss	(1,669,715)	(322,182)
Accumulated deficit	(41,729,093)	(39,824,105)
SHAREHOLDERS' EQUITY ATTRIBUTABLE TO PARENT	(20,749,415)	(20,280,894)
Non - controlling interest	57,430,976	60,114,560
TOTAL SHAREHOLDERS' EQUITY	36,681,561	39,833,666
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 96,703,648	$ 103,145,841