PROPERTY AND EQUIPMENT

6 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE H - PROPERTY AND EQUIPMENT

Property and equipment consist of the following at December 31, 2024 and June 30, 2024:

	December 31, 2024			June 30, 2024
Property and Equipment (i)	$	36,363		$	36,363
Software development-Note C- Internal-use implemented software		238,000			-
Software (Customer Relationship Management Sales Platform) (iii)		125,000			125,000
		399,363			161,363
Less: accumulated depreciation (ii)		(46,752	)		(34,756	)
Total	$	352,611		$	126,607

(i)	Property and equipment are stated at cost and depreciated principally on methods and at rates designed to amortize their costs over their useful lives.
(ii)	Depreciation expense for the six months ended December 31, 2024 and 2023 was $11,996 and $2,596 respectively.
(iii)	On January 25, 2024, the Company and its wholly owned subsidiary, 10 Fold Services, LLC (“10 Fold Services”), (collectively, the “Buyers”) and Jetco Holdings, LLC (the “Seller”) (together, the “Parties”) entered into an Asset Purchase Agreement (the “Agreement”) for the purchase of a Customer Relationship Management Sales Platform (the “Purchased Asset”).
(iv)	In October and November 2024, the Company’s wholly owned subsidiary, 10 Fold, LLC, invested significantly in upgrading its customer relationship management (CRM) system. This upgrade enhances sales efficiency through advanced technology and automation, while also improving the customer experience. The new system equips the Company with detailed sales performance tracking and forecasting tools, providing valuable insights for management.

GLOBAL TECHNOLOGIES, LTD

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the six months ended December 31 2024 and 2023

(Unaudited)