SECURITIES AND EXCHANGE COMMISSION

                              Washington, DC 20549

                                    FORM 8-K

                                 CURRENT REPORT

                     Pursuant to Section 13 or 15(d) of the
                         Securities Exchange Act of 1934


         Date of report (Date of earliest event reported) May 23, 2001


                            Global Technologies, Ltd.
             (Exact Name of Registrant as specified in its charter)


         Delaware                     0-25668                     86-0970492
(State or other jurisdiction   (Commission File Number)         (IRS Employer
     of incorporation)                                       Identification No.)


The Belgravia, 1811 Chestnut Street, Suite 120, Philadelphia, PA        19103
           (Address of Principal Executive Offices)                   (Zip Code)


                                 (215) 972-8191
              (Registrant's telephone number, including area code)


          (Former Name or Former Address, if Changed Since Last Report)

                    INFORMATION TO BE INCLUDED IN THIS REPORT

ITEM 5. OTHER EVENTS

     On May 29, 2001,  Global  Technologies,  Ltd.  issued the  following  press
release:

Global  Technologies,  Ltd. (NASDAQ NMS:GTLL) announced today that it received a
NASDAQ Staff  Determination on May 23, 2001 indicating that the Company fails to
comply with the minimum $4,000,000 net tangible assets requirement for continued
listing as set forth in  Marketplace  Rule  4450(a)(3),  and that its securities
are,  therefore,  subject to  delisting  from the NASDAQ  National  Market.  The
Company is requesting a hearing before a NASDAQ Listing  Qualifications Panel to
review the Staff  Determination.  The hearing  request  stays  delisting  of the
Company's  securities  pending the  issuance of a written  determination  by the
Panel. There can be no assurance that the Panel will grant the Company's request
for continued listing.  The Company is exploring  eligibility for listing of its
securities on other markets and exchanges, including the NASDAQ SmallCap Market,
in the event that its request is not granted.

ABOUT GLOBAL TECHNOLOGIES, LTD.

Global Technologies, Ltd. is engaged in developing, managing and commercializing
emerging  growth  companies  primarily in the technology and  telecommunications
sectors. Global Technologies,  Ltd.'s United Kingdom affiliate, TNCi UK Limited,
has developed a broadband,  interactive entertainment and information system for
the  long-haul  passenger  rail  market.  The system is designed to provide rail
passengers  Internet  and e-mail  access,  with such  customizable  services  as
on-demand films, videos and music, video games, reservation  information,  train
schedules and other Internet-based  content and commerce  applications.  TNCi UK
Limited has teamed with General Dynamics Interactive  Corporation,  a subsidiary
of  General  Dynamics  (NYSE:GD),  on this  project.  The  tandem  is  currently
marketing  the system to major  rail  operators  in Europe,  with a focus on the
United Kingdom.

                                    * * * * *

EXCEPT FOR HISTORICAL  MATTERS CONTAINED  HEREIN,  THE MATTERS DISCUSSED IN THIS
PRESS  RELEASE  ARE  FORWARD-LOOKING  STATEMENTS  AND ARE MADE  PURSUANT  TO THE
SAFE-HARBOR  PROVISIONS OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995.
THESE  FORWARD-LOOKING  STATEMENTS  REFLECT  ASSUMPTIONS  AND INVOLVE  RISKS AND
UNCERTAINTIES  THAT MAY AFFECT THE  COMPANY'S  BUSINESS AND  PROSPECTS AND CAUSE
ACTUAL RESULTS TO DIFFER MATERIALLY FROM THESE FORWARD-LOOKING STATEMENTS. THESE
ASSUMPTIONS,  RISKS AND  UNCERTAINTIES  ARE DISCUSSED IN DETAIL IN THE COMPANY'S
PUBLIC FILINGS,  ALL OF WHICH ARE ON FILE WITH AND AVAILABLE FROM THE SECURITIES
AND EXCHANGE COMMISSION.

                                   Signatures

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
Registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                        GLOBAL TECHNOLOGIES, LTD.



Dated: June 1, 2001                     By: /s/ Irwin L. Gross
                                            ------------------------------------
                                            Name: Irwin L. Gross
                                            Title: Chairman and Chief Executive
                                                   Officer