The Company had a supplier involved in promoting and facilitating the sale of GLP-1-based products under FDA shortage provisions. In June 2025, following changes in FDA regulations and the expiration of the shortage allowance, the Company and this supplier mutually agreed to terminate all active contracts, resulting in the cessation of procurement operations by 10 Fold Services, a wholly owned subsidiary. Subsequently, 10 Fold Services transferred certain intellectual property and contacts to Primecare Supply, LLC, another wholly owned subsidiary of Global Technologies, Ltd., to consolidate resources and focus on expanding Primecare Supply's platforms.
Global Technologies Ltd's Comment on Supply Chain
The Company had a supplier involved in promoting and facilitating the sale of GLP-1-based products under FDA shortage provisions. In June 2025, following changes in FDA regulations and the expiration of the shortage allowance, the Company and this supplier mutually agreed to terminate all active contracts, resulting in the cessation of procurement operations by 10 Fold Services, a wholly owned subsidiary. Subsequently, 10 Fold Services transferred certain intellectual property and contacts to Primecare Supply, LLC, another wholly owned subsidiary of Global Technologies, Ltd., to consolidate resources and focus on expanding Primecare Supply's platforms.
Sources:
Global Technologies Ltd's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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