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


                                  May 29, 2001
                Date of report (Date of earliest event reported)


                            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)


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


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

                    INFORMATION TO BE INCLUDED IN THIS REPORT

ITEM 5. OTHER EVENTS

     Global   Technologies,   Ltd.,  a  Delaware   corporation   ("Registrant"),
disclosed,  among other things, in its Registration  Statement on Form S-3 filed
with the SEC on May 8, 2001 and in its  Quarterly  Report on Form 10-QSB for the
quarter ended March 31, 2001 that  Registrant  "believes  that it has sufficient
cash and cash equivalents,  and short-term investments,  to satisfy its cash and
working capital  requirements for the next five to eight months." This statement
was  based on  Registrant's  ability  to sell  shares  of  common  stock of U.S.
Wireless  Corporation  ("USWC") to fund its  operations.  As of the date hereof,
Registrant owns 476,300 shares of common stock of USWC.

     On May 29, 2001, The Nasdaq Stock Market  announced that trading was halted
in USWC at 9:19 a.m., Eastern Time, for, "additional information requested" from
USWC at a last price of $2.91.  Trading will remain  halted until USWC has fully
satisfied Nasdaq's request for additional information.

     On June 11, 2001, USWC issued the following press release:

"U.S. WIRELESS CORPORATION RECEIVES NOTICE FROM NASDAQ

     SAN RAMON,  Calif.,  June 11, 2001 -- U.S.  Wireless  Corporation  (Nasdaq:
USWCE;  Frankfurt:  USP) announced  that it has received  Nasdaq Notice of Staff
Determination  that the  Company is not in  compliance  with  continued  listing
requirements as set forth in Nasdaq  Marketplace Rule  4310(c)(14),  relating to
the filing of all required  Securities and Exchange  Commission (`SEC') reports.
As a result of the Company's  previously  announced  investigation  into various
irregularities involving two former executive officers and the fact that certain
previously  filed SEC reports  will need to be amended  accordingly,  Nasdaq has
determined  that the Company is not in  compliance  with listing  rules  pending
filing of amended reports.

     The Company has filed an appeal of  Nasdaq's  determination  and intends to
take all steps  within its control to seek to return to  compliance  with Nasdaq
listing  requirements.  The Company is working with its independent auditor, BDO
Seidman,  LLP,  to amend all  previous  filings  and  disclosures  that  require
amendment.  Additionally,  the  Company is working  diligently  with  regulatory
agencies,  independent  auditors,  legal counsel and the Audit  Committee of its
Board of  Directors to complete its  investigation  and to make the  appropriate
restatements and disclosures.  Nasdaq,  taking into  consideration the Company's
submissions  and any  other  factors  that it may deem  relevant,  will make the
ultimate determination concerning the continued listing of the Company's stock.

     Until the  conclusion  of this  review,  the  Company's  previously  issued
historical financial statements for these periods should not be relied upon. The

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Company  expects to file  amended  Securities  and Exchange  Commission  reports
containing  the  required  restated  financial   statements  and  related  party
disclosures by July 16, 2001.

     Pending  resolution of the proceedings  before Nasdaq, the Company's symbol
will be listed as `USWCE.'"

     Because Nasdaq has halted trading of USWC  securities  pending  receipt and
review of additional  information  from USWC,  Registrant  cannot currently sell
shares of common stock of USWC and does not know when,  if ever, it will be able
to do so in the future.

     Registrant  is seeking to sell certain  lottery  equipment  consisting of a
network   operating   center,   approximately   2,200   lottery   terminals  and
approximately  3,000 radio pads.  As of March 31, 2001,  these assets had a book
value of $4.3  million.  Registrant  gives no assurance  that it will be able to
sell any of the equipment,  or, if it does, that it will receive an amount equal
to or greater than book value.

     Additionally,  Registrant  has entered into a private equity line of credit
agreement  pursuant  to which it may have the  opportunity  to raise up to $25.0
million through sales of its Class A common stock, after certain conditions have
been satisfied,  including  effectiveness of a registration  statement regarding
the  resale of any  shares so sold and  continued  listing  on any of the Nasdaq
National Market, the Nasdaq SmallCap Market or certain national exchanges. Based
on the closing price of Registrant's  stock on April 26, 2001,  assuming all the
conditions  to  selling  the  maximum  number of shares of Class A common  stock
pursuant  to puts  under  the  private  equity  line of  credit  agreement  were
satisfied,  Registrant  would receive  proceeds of  approximately  $1.5 million.
Registrant  would only be able to receive  proceeds of $25.0 million pursuant to
the private equity line of credit agreement in the event the market price of its
Class A  common  stock  increased  to  $5.68  or  greater.  Registrant  gives no
assurance that it will ever generate proceeds under the equity line.

     While  Registrant is unable to sell USWC common stock, it is pursuing other
sources of financing,  and expects to receive funds from related party advances.
In addition,  Registrant  and its  affiliate,  TNCi UK Limited  ("TNCi UK"), are

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pursuing  financing from several private and institutional  investors located in
the United Kingdom. There is no assurance that Registrant will obtain funds from
any of these sources.

     Registrant's  current  cash  requirements  are to cover  its  significantly
reduced  burn  rate and fund TNCi UK until a  contract  to  provide  interactive
entertainment and information systems to a train operator has been obtained,  if
ever.  TNCi  UK  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 has teamed with General Dynamics Interactive,  a
subsidiary  of  General  Dynamics  Corporation,  on  this  project.  TNCi  UK is
currently marketing the system to major rail operators in the United Kingdom and
continental  Europe.  Discussions are ongoing with more than one train operator,
and some are reaching  advanced  stages.  In the meantime,  TNCi UK continues to
build on its  technology  base and pursue  expansion  of its  strategic  partner
relationships in an effort to offer a complete turnkey package to operators.

     If no proceeds are generated  from sales of lottery  equipment or under the
private equity line of credit agreement,  and no funds are obtained from related
parties or other  sources of  financing,  Registrant  would  likely be unable to
continue  operations  in pursuit of a train  operator  contract  or at all.  The
inability  to obtain  funds from  these  sources  would have a material  adverse
effect on  Registrant's  operating  results and financial  condition,  and would
create substantial doubt about its ability to continue as a going concern.

                                   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 13, 2001                 By: /s/ IRWIN L. GROSS
                                          ------------------------------
                                          Name:  Irwin L. Gross
                                          Title: Chairman and Chief
                                                 Executive Officer

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