ACCRUED OFFICER AND DIRECTOR COMPENSATION

12 Months Ended

Jun. 30, 2021

Accrued Officer And Director Compensation

ACCRUED OFFICER AND DIRECTOR COMPENSATION

NOTE E – ACCRUED OFFICER AND DIRECTOR COMPENSATION

Accrued officer and director compensation is due to Wayne Anderson, the sole officer and director of the Company, and consists of:

	June 30, 2021		June 30, 2020
Pursuant to January 26, 2018 Board of Directors Service Agreement	$	-	$	79,803
Total	$	-	$	79,803

GLOBAL TECHNOLOGIES, LTD

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

For the years ended June 30, 2021 and 2020

NOTE E – ACCRUED OFFICER AND DIRECTOR COMPENSATION (cont’d)

For the years ended June 30, 2021 and 2020, the balance of accrued officer and director compensation changed as follows:

	Pursuant to Employment Agreements		Pursuant to Board of Directors Services Agreements			Total
Balance June 30, 2019		-		39,803			39,803
Officer’s/director’s compensation for the year ended June 30, 2020 (including stock-based compensation of $40,000 accrued as Stock to be Issued)		-		40,000			40,000
Balances at June 30, 2020		-		79,803			79,803
Officer’s/director’s compensation for the year ended June 30, 2021 (including stock-based compensation of $40,000 accrued as Stock to be Issued)		-		40,000			40,000
Cash compensation		-		(119,803	)		(119,803	)
Balances at June 30, 2021	$	-	$	-		$	-

(i) As of June 30, 2021 and June 30, 2020, total shares of common stock accrued as “Stock to be Issued” to Mr. Anderson as per the terms of the Board of Director’s Services Agreement is 84,803 and 10,000, respectively.

Please see NOTE M - SUBSEQUENT EVENTS for further information.