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RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

3 Months Ended

Sep. 30, 2025

NOTE K - RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

The effect of the restatement adjustments on the consolidated statement of operations for the three months ended September 30, 2024 follows:

	As previously reported			Restatement Adjustments			As Restated
Revenue	$	669,431		$	-		$	669,431
Less: shared revenue		191,889			-			191,889
Net revenue		477,542			-			477,542

Total operating expenses		210,898			(5,998	)		204,900
Income from operations		266,644			5,998			272,642

Interest expense		(10,095	)		-			(10,095	)

Income before provision of income taxes		256,549			5,998			262,547

Provision for income taxes		-			-			-

Net income	$	256,549		$	5,998		$	262,547

Basic and diluted income (loss) per common share	$	0.00		$	0.00		$	0.00

GLOBAL TECHNOLOGIES, LTD

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the three months ended September 30, 2025 and 2024

(Unaudited)

NOTE K - RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (cont’d)

The effect of the restatement adjustments on the consolidated statement of cash flows for the three months ended September 30, 2024 follows:

	As previously reported			Restatement Adjustments			As Restated
Net income (loss)	$	256,549		$	5,998		$	262,547
Adjustments to reconcile net income to net cash used in operating activities
Depreciation		5,998			(5,998	)		-
Changes in operating assets and liabilities:
Accounts receivable		28,082			-			28,082
Accounts payable		(40,437	)		-			(40,437	)
Accrued interest		10,095			-			10,095
Accrued executive compensation		(43,173	)		-			(43,173	)
Net cash provided by operating activities		217,114			-			217,114

Net cash used in financing activities		(40,000	)		-			(40,000	)

Net increase in cash and cash equivalents		177,114			-			177,114

Cash and cash equivalents, beginning of period		115,747			-			115,747
Cash and cash equivalents, end of period	$	292,861		$	-		$	292,861