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Global Technologies, LTD (OTC Markets:GTLL), a Delaware-incorporated company specializing in radio and TV broadcasting and communications equipment, with a market capitalization of $2.94 million and impressive revenue growth of ~603% over the last twelve months, announced the commencement of operations for its wholly owned subsidiary, Primecare Supply, LLC, as well as the execution of two key commercial agreements.
Primecare Supply, which was established on October 22, 2024, as mentioned in the company’s Form 10-Q filed on November 12, 2024, is now actively engaging with medical suppliers. The subsidiary aims to provide advanced sales and advisory services to the rapidly growing medical spa, wellness clinic, and IV therapy markets. According to InvestingPro data, the company maintains a gross profit margin of ~41% and EBITDA of $0.51 million, though investors should note its current ratio of 0.17 indicates potential liquidity challenges.
On May 19, 2025, Primecare signed a Revenue Share Agreement with a licensed pharmaceutical supplier. As an independent reseller, Primecare will retain 75% of the gross margin revenue above the manufacturer’s floor price, with the supplier keeping the remaining 25%. The agreement also includes a three-year continuation of revenue-sharing rights post-termination, provided the termination is not for cause.
Additionally, on May 28, 2025, Primecare entered a Master Licensing Agreement with an AI technology company. This agreement, spanning 24 months, involves a 2.5% platform fee on transactions and will integrate advanced digital ordering, compliance automation, and CRM technologies into Primecare’s commercial platform. This integration is expected to enhance Primecare’s sales operations through improved data visibility and scalability.
These agreements mark significant milestones for Primecare Supply, LLC, which officially started sales operations on May 29, 2025.
The forward-looking statements within this report reflect the company’s current expectations regarding future events and financial performance. InvestingPro analysis reveals high price volatility and significant recent price movements - discover 5 more key insights with an InvestingPro subscription. However, actual results may differ due to various risks and uncertainties, as detailed in Global Technologies, LTD’s SEC filings. The information in this article is based on a press release statement.
In other recent news, Global Technologies, LTD has announced a significant change in its leadership structure. Bruce Brimacombe has been removed from his position as Chairman of the Board, and H. Wyatt Flippen, who is currently serving as a Board Member and the Chief Executive Officer, has been appointed as the new Chairman. This leadership change was officially reported in a Form 8-K filing with the Securities and Exchange Commission. Additionally, Global Technologies has relocated its corporate headquarters to Greensboro, North Carolina, from its previous location in Parsippany, New Jersey. This move was also documented in an SEC filing, although the reasons behind the relocation were not disclosed. The new headquarters address is 806 Green Valley Road, Suite 200, Greensboro, NC. Despite these changes, the company’s contact number remains the same, and business operations are expected to continue without interruption. These developments reflect Global Technologies’ ongoing adjustments in its management and operational strategies.
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