ACCRUED OFFICER AND DIRECTOR COMPENSATION

6 Months Ended

Dec. 31, 2022

Accrued Officer And Director Compensation

ACCRUED OFFICER AND DIRECTOR COMPENSATION

NOTE G – ACCRUED OFFICER AND DIRECTOR COMPENSATION

Accrued officer and director compensation is due to Wayne Anderson, the sole officer and director of the Company, and consists of:

		December 31, 2022		June 30, 2022
Pursuant to January 26, 2018 Board of Directors Service Agreement	$	18,074	$	-
Total	$	18,074	$	-

For the six months ended December 31, 2022 and year ended June 30, 2022, the balance of accrued officer and director compensation changed as follows:

	Pursuant to Employment Agreements		Pursuant to Board of Directors Services Agreements			Total
Balances at June 30, 2022		-		-			-
Officer’s/director’s compensation for the six months ended December 31, 2022 (i)		-		40,000			40,000
Cash compensation				(21,926	)		(21,926	)
Balances at December 31, 2022	$	-	$	18,074		$	18,074

(i) On July 1, 2021, the Company executed a new Board of Directors Service Agreement with Jimmy Wayne Anderson. Under the terms of the Agreement, Mr. Anderson shall receive a one-time bonus payment of Fifty Thousand and no/100 dollars ($50,000.00) upon execution of the Agreement, and Twenty Thousand and no/100 dollars ($20,000.00) paid to Mr. Anderson on the last calendar day of each quarter as long as Mr. Anderson continues to fulfill his duties and provide the services set forth above. The compensation of $20,000 per quarter shall commence with the third calendar quarter of 2021 (first fiscal quarter of 2022).

GLOBAL TECHNOLOGIES, LTD

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the six months ended December 31, 2022 and 2021

(Unaudited)