GlobalTech Corp (GLTK) Form 8-K — Aug 28, 2026
Globaltech Corporation reported second-quarter 2026 net revenue of $11.1 million, up 98% from $5.6 million a year earlier, with first-half revenue up 116% to $21.5 million. The growth was driven by consolidating 123 Investments Limited, the UK Moda in Pelle footwear business in which Globaltech acquired a 51% stake on December 15, 2025. The company posted second-quarter consolidated net income of approximately $0.5 million versus a $1.1 million loss in the prior-year quarter, but roughly $5.2 million of other income drove the profit, including a substantially non-cash $2.9 million gain from selling two 123 Investments subsidiaries and $1.8 million of dividend income.
Key figures
- Eps
- 0.001
- Revenue
- 11115971
- Net Income
- 534403
- Total Debt
- approximately $8.7 million principal debt
- Revenue Yoy
- 98%
- Cash Position
- approximately $0.8 million (plus approximately $2.8 million restricted cash)
- Dividend income
- approximately $1.8 million
- Q2 other income
- 5186995
- Restricted cash
- approximately $2.8 million
- Six month revenue
- 21540981
- Reverse split ratio
- 1-for-3
- Prior year q2 revenue
- 5628068
- Six month revenue yoy
- 116%
- Temporary ticker period
- 20 trading days
- Subsidiary disposal gain
- approximately $2.9 million (substantially non-cash)
- Subsidiary ownership percent
- 51%
- Debt repayments due next 12 months
- approximately $4.74 million
- Defaulted term finance certificates
- approximately $4.15 million
- Shares issued for advisory services
- 1392000
- Q2 net income attributable to common
- 215178
- Subsidiary 123 investments q2 revenue
- approximately $5.2 million
- Subsidiary 123 investments six month loss
- approximately $0.6 million
- Share based consultancy expense six months
- approximately $2.8 million
- Subsidiary 123 investments six month revenue
- approximately $10.4 million
AI analysis
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