SEC Comment Letter 0000000000-23-009645 to GlobalTech Corp (GLTK) (CIK 0001938338) (GLTK)
GlobalTech Corp (GLTK) (CIK 0001938338)
Date: Aug. 31, 2023 · CIK: 0001938338 · Accession: 0000000000-23-009645
AI Filing Summary & Sentiment
File numbers found in text: 000-56482
Letter
United States securities and exchange commission logo August 31, 2023 Dana Green Chief Executive Officer GlobalTech Corp 3550 Barron Way, Suite 13a Reno, NV 89511 Re:GlobalTech Corp Amendment No. 3 to Form 10-K for the Fiscal Year Ended December 31, 2022 Amendment No. 2 to Form 10-Q for the Quarterly Period Ended March 31, File No. 000-56482 Dear Dana Green: We have reviewed your filing and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Amendment No. 3 to Form 10-K for the fiscal year ended December 31, 2022 Notes to Consolidated Financial Statements Note 2. Basis of Preparation of Consolidated Financial Statements Restatement of Prior Balances, page F-13 1.We note the revisions in response to prior comment 4. As previously requested, please revise to disclose the effect of the correction of the errors on all of the financial statement line items impacted. In this regard, we note that the errors impacted total assets, total shareholder’s equity, loss before taxation, net loss, net loss attributable to common shareholders and to non-controlling interest, in addition to multiple line items and subtotals as reported on the statement of cash flows. Also, please revise to disclose the effect of the correction of the errors on each of the line items in the consolidated financial statements for 2022.
FirstName LastNameDana Green Comapany NameGlobalTech Corp August 31, 2023 Page 2 FirstName LastName Dana Green GlobalTech Corp August 31, 2023 Page 2 2.We note your revised disclosure indicating that previously issued consolidated financial statements have been restated to reflect the correction of errors. Please file a current report pursuant to Item 4.02 of Form 8-K for the restatements of your financial statements for the years ended December 31, 2021 and 2022 and the quarterly period ended March 31, 2023. We remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Melissa Walsh, Senior Staff Accountant, at (202) 551-3224 or Stephen Krikorian, Accounting Branch Chief, at (202) 551-3488 if you have questions regarding comments on the financial statements and related matters. Please contact Kyle Wiley, Staff Attorney, at (202) 344-5791 or Larry Spirgel, Office Chief, at (202) 551-3815 with any other questions. Sincerely, Division of Corporation Finance Office of Technology cc: Sean Neahusan
Show Raw Text
United States securities and exchange commission logo
August 31, 2023
Dana Green
Chief Executive Officer
GlobalTech Corp
3550 Barron Way, Suite 13a
Reno, NV 89511
Re:GlobalTech Corp
Amendment No. 3 to Form 10-K for the Fiscal Year Ended December 31, 2022
Amendment No. 2 to Form 10-Q for the Quarterly Period Ended March 31,
2023
File No. 000-56482
Dear Dana Green:
We have reviewed your filing and have the following comments. In some of our
comments, we may ask you to provide us with information so we may better understand your
disclosure.
Please respond to these comments within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comments apply to your facts and circumstances, please tell us why in your response.
After reviewing your response to these comments, we may have additional comments.
Amendment No. 3 to Form 10-K for the fiscal year ended December 31, 2022
Notes to Consolidated Financial Statements
Note 2. Basis of Preparation of Consolidated Financial Statements
Restatement of Prior Balances, page F-13
1.We note the revisions in response to prior comment 4. As previously requested, please
revise to disclose the effect of the correction of the errors on all of the financial statement
line items impacted. In this regard, we note that the errors impacted total assets, total
shareholder’s equity, loss before taxation, net loss, net loss attributable to common
shareholders and to non-controlling interest, in addition to multiple line items and
subtotals as reported on the statement of cash flows. Also, please revise to disclose the
effect of the correction of the errors on each of the line items in the consolidated financial
statements for 2022.
FirstName LastNameDana Green
Comapany NameGlobalTech Corp
August 31, 2023 Page 2
FirstName LastName
Dana Green
GlobalTech Corp
August 31, 2023
Page 2
2.We note your revised disclosure indicating that previously issued consolidated financial
statements have been restated to reflect the correction of errors. Please file a current
report pursuant to Item 4.02 of Form 8-K for the restatements of your financial statements
for the years ended December 31, 2021 and 2022 and the quarterly period ended March
31, 2023.
We remind you that the company and its management are responsible for the accuracy
and adequacy of their disclosures, notwithstanding any review, comments, action or absence of
action by the staff.
You may contact Melissa Walsh, Senior Staff Accountant, at (202) 551-3224 or Stephen
Krikorian, Accounting Branch Chief, at (202) 551-3488 if you have questions regarding
comments on the financial statements and related matters. Please contact Kyle Wiley, Staff
Attorney, at (202) 344-5791 or Larry Spirgel, Office Chief, at (202) 551-3815 with any other
questions.
Sincerely,
Division of Corporation Finance
Office of Technology
cc: Sean Neahusan