Cautionary Statements

This Form 10-K may contain "forward-looking statements," as that term is used in federal securities laws, about Global Tech's consolidated financial condition, results of operations and business. These statements include, among others:

? statements concerning the potential benefits that may be experienced from

business activities and certain transactions contemplated or completed; and

? statements of our expectations, beliefs, future plans and strategies,

anticipated developments and other matters that are not historical facts. These

statements may be made expressly in this Form 10-K. You can find many of these

statements by looking for words such as "believes," "expects," "anticipates,"

"estimates," "opines," or similar expressions used in this Form 10-K. These

forward-looking statements are subject to numerous assumptions, risks and

uncertainties that may cause our actual results to be materially different from

any future results expressed or implied in those statements. The most important

facts that could prevent us from achieving our stated goals include, but are

not limited to, the following:

a) volatility or decline of Global Tech's stock price;

b) potential fluctuation of quarterly results;

c) failure to earn revenues or profits;

d) inadequate capital to continue or expand our business, and inability to raise

additional capital or financing to implement our business plans;

e) failure to commercialize our technology or to make sales;

f) decline in demand for our products and services;

g) rapid adverse changes in markets;

h) litigation with or legal claims and allegations by outside parties against

GTII, including but not limited to challenges to intellectual property rights;

i) insufficient revenues to cover operating costs; and

J) inability to make a business acquisition that is profitable for the Company


   and its shareholders.

There is no assurance that we will be profitable, we may not be able to successfully develop, manage or market our products and services, we may not be able to attract and retain qualified executives and technology personnel, we may not be able to obtain customers for our products or services, our products and services may become obsolete, government regulation may hinder our business, additional dilution in outstanding stock ownership may be incurred due to the issuance of more shares, warrants and stock options, or the exercise of outstanding warrants and stock options, and other risks inherent in our businesses.

Because the statements are subject to risks and uncertainties, actual results may differ materially from those expressed or implied by the forward-looking statements. We caution you not to place undue reliance on the statements, which speak only as of the date of this Form 10-K. The cautionary statements contained or referred to in this section should be considered in connection with any subsequent written or oral forward-looking statements that we or persons acting on our behalf may issue. We do not undertake any obligation to review or confirm analysts' expectations or estimates or to release publicly any revisions to any forward-looking statements to reflect events or circumstances after the date of this Form 10K, or to reflect the occurrence of unanticipated events.





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RESULTS OF OPERATIONS

Results of Operations for the Year Ended December 31, 2022, compared to the Year Ended December 31, 2021:

During the 2022 year, we generated revenues of $0, compared to $24,120 for 2021. Our revenues reported were from our subsidiary Bronx from the date of acquisition of December 30, 2021 through December 31, 2021. Our total operating expenses increased from $6,150,624 in 2021 to $13,117,530 in 2022. The increase was primarily the result of the increase in stock-based compensation to our professionals. General and administrative expenses increased from $237,093 in 2021 to $434,547 in 2022, an increase of $197,454, mostly due to the increase in travel related expenses due to increased corporate activity. Compensation to officers, medical contributions and service fees to professionals increased by $6,809,123, from $5,370,318 to $12,179,441 due mostly to the increase in share-based compensation, and medical benefits for employees. Depreciation expense decreased by $1,303 to $1,697 from $3,000 the prior year.

Our net loss increased by $7,530,280 to $13,593,202 in 2022 from $6,062,922 in 2021, due to the increased stock-based compensation in 2021.

LIQUIDITY AND CAPITAL RESOURCES

On December 31, 2022, we had cash on hand of $3,320,164 compared to $359,143 on December 31, 2021,. We used cash in our operations of $488,278 in 2022 compared to $655,623 in 2021, a 26% decrease. We (paid) raised net $151,821 and $(109,512) from related party loans in 2022 and 2021, respectively. We anticipate that we will have an increase in our cash flow from continuing operations with the acquisition made during the year. We have sufficient cash on hand on December 31, 2022, to cover our negative cash flow. We will attempt to increase our operating activities with our acquisition operations in 2023, and possibly raise capital through the sale of our common stock or through debt financing.

Some of Global Tech's past due obligations, including $338,000 of accounts payable, and $113,000 of notes payable and judgments, were incurred or obtained prior to 2005. No actions have been taken by any of the applicable creditors. Action by any such creditor would materially decrease our liquidity. Global Tech has no credit facilities with which to resolve these outstanding obligations from prior years but will attempt to fully resolve them upon a successful capital raise and monetary action of the business. This may have a negative impact on our future.





CONTRACTUAL OBLIGATIONS

The Company has contractional obligations with numerous independent service providers.





Going Concern Qualification

The Company has incurred significant losses from operations, and such losses are expected to continue. The Company's has included a "Going Concern Qualification" in their report for the year ended December 31, 2022. In addition, the Company has net losses and negative working capital. The foregoing raises substantial doubt about the Company's ability to continue as a going concern. Management's plans include seeking additional capital and/or debt financing. There is no guarantee that additional capital and/or debt financing will be available when and to the extent required, or that if available, it will be on terms acceptable to the Company. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. The "Going Concern Qualification" may make it substantially more difficult to raise capital.





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Potential Impact of COVID-19

The Company is concerned that the COVID-19 virus may impact the Company's ability to raise additional equity capital due to the uncertainty of the virus' effects on the economy and capital markets, which may make potential investors less likely to invest during the pandemic. This may affect the Company's ability to raise equity capital to meet its financial obligations, implement its business plan and continue as a going concern.

Off-Balance Sheet Arrangements

We have no off-balance sheet arrangements.

Critical Accounting Policies and Estimates

Our discussion and analysis of our financial condition and results of operations are based upon our consolidated financial statements, which have been prepared in accordance with U.S. generally accepted accounting principles. These principles require us to make estimates and judgments that affect the reported amounts of assets, liabilities, revenue and expenses, cash flow and related disclosure of contingent assets and liabilities. Our estimates include those related to revenue recognition, accounts receivable reserves, income and other taxes, stock-based compensation and equipment and contingent obligations. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ from these estimates. To the extent that there are material differences between these estimates and our actual results, our future financial statements will be affected.

We define our "critical accounting policies" as those U.S. generally accepted accounting principles that require us to make subjective estimates about matters that are uncertain and are likely to have a material impact on our financial condition and results of operations as well as the specific way, we apply those principles. Our estimates are based upon assumptions and judgments about matters that are highly uncertain at the time the accounting estimate is made and applied and require us to continually assess a range of potential outcomes. A detailed discussion of the critical accounting policies that most affect our Company is in Footnote 2 of the notes to our financial statements.





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