ACCRUED OFFICER AND DIRECTOR COMPENSATION

3 Months Ended

Sep. 30, 2021

Accrued Officer And Director Compensation

ACCRUED OFFICER AND DIRECTOR COMPENSATION

NOTE F – 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:

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

GLOBAL TECHNOLOGIES, LTD

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the three months ended September 30, 2021 and 2020

(Unaudited)

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

For the three months ended September 30, 2021 and year ended June 30, 2021, the balance of accrued officer and director compensation changed as follows:

	Pursuant to Employment Agreements		Pursuant to Board of Directors Services Agreements			Total
Balances at June 30, 2020		-		79,803			79,803
Officer’s/director’s compensation for the year ended June 30, 2021 (not 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		-		-			-
Officer’s/director’s compensation for the three months ended September 30, 2021		-		20,000			20,000
Cash bonus as per new agreement (ii)				50,000			50,000
Cash compensation				(70,000	)		(70,000	)
Balances at September 30, 2021	$	-	$	-		$	-

(i)

As of September 30, 2021 and June 30, 2021, 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 84,803, respectively.

(ii)

On July 1, 2021, the Company executed a new Board of Directors Service Agreement with Jimmy Wayne Anderson. Under the terms of the Agreement, Mr. Anderson shall receive a one-time bonus payment of Fifty Thousand and no/100 dollars ($50,000.00) upon execution of the Agreement, and Twenty Thousand and no/100 dollars ($20,000.00) paid to Mr. Anderson on the last calendar day of each quarter as long as Mr. Anderson continues to fulfill his duties and provide the services set forth above. The compensation of $20,000 per quarter shall commence with the third calendar quarter of 2021 (first fiscal quarter of 2022).