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COMMITMENTS AND CONTINGENCIES
3 Months Ended
Sep. 30, 2025
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES

NOTE I - COMMITMENTS AND CONTINGENCIES

 

Operating lease

 

On August 13, 2025, the Company, through its wholly owned subsidiary Primecare Supply, LLC, entered into a lease agreement for a sales office located at 550 N. Reo Street, Suite 230, Tampa, Florida 33609. The leased premises serve as the Company’s Tampa sales office and operate as a regional hub supporting sales, customer engagement, and business development activities related to software solutions and product procurement services offered to health and wellness clinics throughout the United States.

 

The lease commenced on September 15, 2025, with an initial term of one year and a monthly base rent of $4,078.67. In August 2025, the Company paid a security deposit of $4,221.42 to secure the lease, and Primecare Supply, LLC commenced occupancy of the leased premises on September 15, 2025. The Tampa location is not designated as the corporate headquarters or principal executive offices of Global Technologies, LTD or Primecare Supply, LLC.

 

The lease was entered into to support the expansion of the Company’s sales operations and is classified as an operating lease. Lease expense is recognized on a straight-line basis over the term of the lease.

 

Employment and Director Agreements

 

On November 22, 2024, the Company entered into an Executive Employment Agreement (the “Agreement”) with Mr. Flippen for his role as the Company’s Chief Executive Officer. Under the terms of the Agreement, Mr. Flippen is to receive a base salary of $8,500 per month and $125,000 worth of Series N Preferred Stock. The Agreement has a term of one year and shall renew for successive one year terms, unless either party terminates the Agreement. The Agreement is effective as of November 22, 2024. As of September 30, 2025 and June 30, 2025 accrued compensation due Mr. Flippen was $17,000 and $17,000 respectively.