UNITED STATES SECURITIES AND EXCHANGE COMMISSION
                             WASHINGTON, D.C. 20549

                                   FORM 12b-25
                           NOTIFICATION OF LATE FILING

Commission File Number: 0-25668
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(Check One):  [X] Form 10-K and Form 10-KSB   [ ] Form 10-Q and Form 10-QSB
              [ ] Form 20-F  [ ] Form 11-K    [ ] Form N-SAR

For Period Ended:  June 30, 2001
                 ---------------
[ ] Transition Report on Form 10-K    [ ] Transition Report on Form 20-F
[ ] Transition Report on Form 11-K    [ ] Transition Report on Form 10-Q
[ ] Transition Report on Form N-SAR

For the Transition Period Ended:

If the notification  relates to a portion of the filing checked above,  identify
the Item(s) to which the notification relates:

PART I - REGISTRANT INFORMATION

                            Global Technologies, Ltd.
                            -------------------------
                             Full Name of Registrant


                            -------------------------
                            Former Name if Applicable

                 The Belgravia, 1811 Chestnut Street, Suite 120
            ---------------------------------------------------------
            Address of Principal Executive Office (Street and Number)

                             Philadelphia, PA 19103
                            -------------------------
                            City, State and Zip Code

PART II - RULES 12b-25(b) and (c)

If the subject report could not be filed without  unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

[X]  (a) The reasons  described  in  reasonable  detail in Part III of this form
     could not be eliminated without unreasonable effort or expense;

[X]  (b) The subject annual report,  semi-annual  report,  transition  report on
     Form 10-K, Form 20-F, 11-K, Form N-SAR, or portion  thereof,  will be filed
     on or before the fifteenth  calendar day following the prescribed due date;
     or the  subject  quarterly  report of  transition  report on Form 10-Q,  or
     portion thereof will be filed on or before the fifth calendar day following
     the prescribed due date; and

[ ]  (c) The accountant's  statement or other exhibit required by Rule 12b-25(c)
     has been attached if applicable.

PART III - NARRATIVE

State below in reasonable  detail the reasons why the Form 10-K and Form 10-KSB,
11-K, 20-F, 10-Q and Form 10-QSB,  N-SAR, or other transition  report or portion
thereof, could not be filed within the prescribed period.

     The  Company's  Annual Report on Form 10-KSB for the fiscal year ended June
30, 2001 (the "Annual Report") cannot be filed within the prescribed time period
without unreasonable effort and expense for the following reasons:

     The Company has been  experiencing  liquidity issues since the beginning of
fiscal year 2001. These liquidity issues have resulted in the Company  incurring
significant  past due payables  with its auditors  here in the United States and
its outside accountants abroad.

     On September 14, 2001,  the Company was able to bring the level of its past
due  payables to its  domestic  auditors to a level that allowed the auditors to
begin work on the annual audit necessary for the Annual Report. On September 17,
2001 (11 days  before  the  Annual  Report  is due to be  filed),  the  domestic
auditors began the audit process.

     The Company was also able to become sufficiently  current with its overseas
accountants  only  recently,  such  that they are now  willing  to  prepare  the
financial  statements  for the Company's  overseas  subsidiaries.  The Company's
overseas  outside  accountants  are  currently  working  to get these  financial
statements compiled so that they may be consolidated and audited.

     The  Company's  financial  inability  to get its  outside  accountants  and
auditors  started on the annual audit in  preparation  of the Annual Report have
caused the Company to be unable to file the Annual Report within the  prescribed
time  period.  Despite  these  difficulties,  the Company and its  auditors  are
working  diligently  to complete the Annual Report in a timely  manner,  and the
Company  will  file the  Annual  Report  no later  than  the 15th  calendar  day
following the prescribed due date.

PART IV - OTHER INFORMATION

(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
     notification

           S. Lance Silver, Esq.         (215)             972-8191
           -------------------------------------------------------------
           (Name)                     (Area Code)     (Telephone Number)

(2)  Have all other periodic  reports  required under Section 13 or 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
     of 1940 during the preceding 12 months (or for such shorter period that the
     registrant was required to file such reports), been filed. If answer is no,
     identify report(s).                                          [X] YES [ ] NO

(3)  Is it anticipated that any significant change in results of operations from
     the corresponding  period for the last fiscal year will be reflected by the
     earnings statement to be included in the subject report or portion thereof?
                                                                  [X] YES [ ] NO

If so, attach an explanation of the anticipated change,  both narratively,  and,
if  appropriate,  state the  reasons  why a  reasonable  estimate of the results
cannot be made.

     Similar to the past fiscal  year,  the Company  expects that its results of
operations for this fiscal year will reflect a significant  net loss.  While the
net loss for this fiscal year is not expected to be  significantly  greater than
last fiscal year's net loss,  the  components and reporting are expected to vary
extensively because of the cessation of much of the Company's  operations by the
end of the first quarter of fiscal 2001. While the Company  anticipates that its
results  of  operations  for  fiscal  2001 will  reflect  income  from  sales of
investment  securities,  it also anticipates that any such income will be offset
by  charges  resulting  from  write-downs  related  to  reductions  in  value of
equipment held for sale and investment  securities.  The cessation of operations
and  write-downs  require  analysis  and  evaluation  by our  auditors,  who, as
explained above, were unable to begin the audit process until September 17, 2001
as a result of the  Company's  financial  constraints.  Thus,  at this  time,  a
reasonable estimate of results cannot be made.

                           Global Technologies, Ltd.
                  --------------------------------------------
                  (Name of Registrant as Specified in Charter)

has  caused  this  notification  to be signed on its  behalf by the  undersigned
hereunto duly authorized.

Date: September 28, 2001                    By: /s/ Irwin L. Gross
                                               ---------------------------------