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<p style="margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<!-- Field: Rule-Page --><div style="margin-top: 12pt; margin-bottom: 3pt; width: 100%"><div style="border-top: Black 2pt solid; border-bottom: Black 1pt solid; font-size: 1pt">&#160;</div></div><!-- Field: /Rule-Page -->

<p style="margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>United
States</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 14pt"><b>Securities
and Exchange Commission</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 12pt">Washington,
D.C. 20549</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<td style="font: 12pt Times New Roman, Times, Serif; width: 90%"><span style="font: 12pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
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</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
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<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify; width: 90%"><span style="font: 12pt Times New Roman, Times, Serif">TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Commissions
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Exact
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<tr style="vertical-align: top">
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<td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">I.R.S. Employer Identification Number</span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">incorporation or organization</span></td>
<td style="text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Address
of principal executive offices)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

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<td style="width: 45%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">Issuer&#160;&#8217;s telephone number:</span></td>
<td style="width: 10%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities
registered pursuant to Section 12(b) of the Act: Not applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="border: black 1pt solid; width: 30%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Title of each class</span></td>
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<td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 40%; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Name of each exchange on which registered</span></td></tr>
<tr style="vertical-align: top">
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">Not applicable.</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span><b>&#160;</b></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
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Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (&#167;232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files). <span id="xdx_901_edei--EntityInteractiveDataCurrent_c20220101__20220630" title="Entity Interactive Data Current"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" name="dei:EntityInteractiveDataCurrent">Yes</ix:nonNumeric></span> &#9746; &#9744; No</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of &#8220;large accelerated filer,&#8221; &#8220;accelerated filer&#8221; and &#8220;smaller reporting company&#8221;
in Rule 12b-2 of the Exchange Act.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Large accelerated filer &#9744;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accelerated filer &#9744;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="width: 33%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90B_edei--EntityFilerCategory_c20220101__20220630_zQWJvm5IUUie"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt-sec:entityfilercategoryen" name="dei:EntityFilerCategory">Non-accelerated filer</ix:nonNumeric></span> &#9746;</span></td>
<td style="width: 39%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Smaller reporting company <span id="xdx_904_edei--EntitySmallBusiness_c20220101__20220630_zvKhiZBBV3Sd"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleantrue" name="dei:EntitySmallBusiness">&#9746;</ix:nonNumeric></span></span></td>
<td style="width: 28%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Emerging growth company&#160;<span id="xdx_908_edei--EntityEmergingGrowthCompany_c20220101__20220630_ze8CDVXhb5ll"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleanfalse" name="dei:EntityEmergingGrowthCompany">&#9744;</ix:nonNumeric></span></span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. &#9744;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of Exchange Act). Yes&#160;&#9744; <span id="xdx_905_edei--EntityShellCompany_c20220101__20220630_z0pPcurgV0Yc"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt:booleanfalse" name="dei:EntityShellCompany">No</ix:nonNumeric></span> &#9746;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">State
the number of shares outstanding of each of the issuer&#8217;s classes of common equity, as of the latest practicable date:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="width: 50%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Common Stock,
$0.00001 par value</b></span></td>
<td style="width: 50%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90C_edei--EntityCommonStockSharesOutstanding_iI_c20220810_zR2i3KmJ13zk" title="Entity Common Stock, Shares Outstanding"><ix:nonFraction name="dei:EntityCommonStockSharesOutstanding" contextRef="AsOf2022-08-10" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,127,741,469</ix:nonFraction></span> Common
Shares</span></td></tr>
<tr style="vertical-align: bottom">
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Class)</span></td>
<td style="text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Outstanding at August 10, 2022)</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
TECHNOLOGIES INC.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>TABLE
OF CONTENTS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr>
<td style="vertical-align: top; width: 10%"><span style="font: 10pt Times New Roman, Times, Serif">PART I.</span></td>
<td style="vertical-align: top; width: 84%"><span style="font: 10pt Times New Roman, Times, Serif">Financial Information</span></td>
<td style="vertical-align: top; width: 1%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; width: 5%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Page</b>&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">Item 1.</span></td>
<td style="vertical-align: top"><a href="#a_001"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Consolidated Financial Statements (unaudited)</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><a href="#a_002"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021(audited)</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">2</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><a href="#a_003"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Consolidated Statements of Operations for the Three and Six months Ended June 30, 2022 and 2021 (unaudited)</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><a href="#a_004"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Consolidated Statements of Stockholder&#8217;s Deficit for the Six months Ended June 30, 2022 and 2021 (unaudited)</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><a href="#a_005"><span style="font: 10pt Times New Roman, Times, Serif">Condensed Consolidated Statements of Cash Flows for the Six months Ended June 30, 2022 and 2021 (unaudited)</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><a href="#a_006"><span style="font: 10pt Times New Roman, Times, Serif">Notes to Condensed Consolidated Financial Statements (unaudited)</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">7</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">Item 2.</span></td>
<td style="vertical-align: top"><a href="#a_007"><span style="font: 10pt Times New Roman, Times, Serif">Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">40</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">Item 3.</span></td>
<td style="vertical-align: top"><a href="#a_008"><span style="font: 10pt Times New Roman, Times, Serif">Quantitative and Qualitative Disclosures about Market Risk</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">Item 4.</span></td>
<td style="vertical-align: top"><a href="#a_009"><span style="font: 10pt Times New Roman, Times, Serif">Controls and Procedures</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">54</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">PART II.</span></td>
<td style="vertical-align: top"><a href="#a_010"><span style="font: 10pt Times New Roman, Times, Serif">Other Information</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">55</span></td></tr>
<tr>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr>
<td colspan="2" style="vertical-align: top"><a href="#a_012"><span style="font: 10pt Times New Roman, Times, Serif">Signatures</span></a></td>
<td style="vertical-align: top; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="vertical-align: bottom; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="a_001"></span>Item
1: Condensed consolidated financial statements</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 100%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_002"></span>GBT TECHNOLOGIES INC.</b></span></td></tr>
  <tr style="vertical-align: top">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONDENSED CONSOLIDATED BALANCE SHEETS</b></span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellpadding="0" cellspacing="0" id="xdx_30E_111_zhVAVNQRCzwi" summary="xdx: Statement - UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS" style="border-collapse: collapse; width: 100%">
<tr style="vertical-align: bottom">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt">&#160;</td>
<td style="font: bold 10pt Times New Roman, Times, Serif">&#160;</td>
<td colspan="3" id="xdx_490_20220630" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td>
<td style="font: bold 10pt Times New Roman, Times, Serif">&#160;</td>
<td colspan="3" id="xdx_495_20211231" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center">&#160;</td></tr>
<tr id="xdx_403_eus-gaap--AssetsAbstract_iB_zHD4NA04kFhj" style="vertical-align: bottom">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">ASSETS</span></span></td>
<td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">June 30,</span></td>
<td style="font: bold 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="border-bottom: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">December 31,</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">2022</span></td>
<td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">2021</span></td></tr>
<tr style="vertical-align: bottom">
<td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Unaudited)</span></td>
<td style="font: bold 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td colspan="3" style="font: bold 10pt Times New Roman, Times, Serif; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">(Audited)</span></td></tr>
<tr id="xdx_405_eus-gaap--AssetsCurrentAbstract_i01B_zp8Gk25bHfjb" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Current
Assets:</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40E_eus-gaap--Cash_i02I_maCzv2x_zD7TzQgkYfwe" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; width: 56%; text-indent: -10pt">Cash</td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">74,110</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 8%"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 12%; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">155,106</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; width: 1%; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40C_eus-gaap--RestrictedCash_i02I_d0_maCzv2x_z22t3NiSE54i" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Restricted cash</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:RestrictedCash" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">390,326</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:RestrictedCash" contextRef="AsOf2021-12-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_406_eus-gaap--AssetsHeldInTrustCurrent_i02I_d0_maCzv2x_zDkeiwOYLPTg" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Cash held in trust</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AssetsHeldInTrustCurrent" contextRef="AsOf2022-06-30" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AssetsHeldInTrustCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">112,942</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40D_eus-gaap--InventoryNet_i02I_maCzv2x_z84MuJ7PfYw" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt">Inventory</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:InventoryNet" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,053</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0058">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--ReceivablesNetCurrent_i02I_pp0p0_maCzv2x_zAXejTyEP7Og" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Note receivable</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ReceivablesNetCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">102,164</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0061">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_402_eus-gaap--AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent_i02I_maCzv2x_zKXoa5uRUZG1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Other receivable</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0063">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">3,750,000</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_406_eus-gaap--OtherAssetsCurrent_i02I_maCzv2x_zlMlmwXEsNb9" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Other current assets</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:OtherAssetsCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">43,872</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40B_eus-gaap--MarketableSecuritiesCurrent_i02I_maCzv2x_zizkWO118Dfk" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Marketable securities</td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:MarketableSecuritiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">87,164</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0070">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40F_eus-gaap--AssetsCurrent_i02TI_mtCzv2x_maCzaKD_zlbPQEm4LRda" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total current assets</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AssetsCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">714,689</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AssetsCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,018,048</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40C_eus-gaap--Assets_i01TI_mtCzaKD_zIe37b7zUbHi" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 40pt; text-align: left; text-indent: -10pt">Total assets</td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Assets" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">714,689</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Assets" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,018,048</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_405_eus-gaap--LiabilitiesAndStockholdersEquityAbstract_iB_zbTmJS4av5B3" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-decoration: underline; text-indent: -10pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>LIABILITIES
AND STOCKHOLDERS' DEFICIT</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--LiabilitiesCurrentAbstract_iB_zH4DreEeGq3a" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Current
Liabilities:</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_407_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_i01I_maCz1Dy_zB6FDGsUIgEe" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Accounts payable
and accrued expenses (including related parties of $<span id="xdx_90C_eus-gaap--AccountsPayableRelatedPartiesCurrent_c20220630_pp0p0" title="Note payable discount"><ix:nonFraction name="us-gaap:AccountsPayableRelatedPartiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">856,904</ix:nonFraction></span> and $<span id="xdx_902_eus-gaap--AccountsPayableRelatedPartiesCurrent_iI_pp0p0_c20211231_zCiYVont0ZUk" title="Note payable discount"><ix:nonFraction name="us-gaap:AccountsPayableRelatedPartiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,309,255</ix:nonFraction></span>)</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,448,950</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,896,263</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40F_ecustom--AccruedSettlement_i01I_maCz1Dy_z6ZW0ipvUSI2" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Accrued settlement</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="gtch:AccruedSettlement" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,090,057</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="gtch:AccruedSettlement" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,090,057</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_405_eus-gaap--UnearnedPremiums_i01I_maCz1Dy_z43n5kArZTQi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Unearned revenue</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:UnearnedPremiums" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">249,159</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:UnearnedPremiums" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">249,384</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--ContractWithCustomerLiability_i01I_d0_maCz1Dy_zxcN9rQ9XAPa" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Contract liabilities</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ContractWithCustomerLiability" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">46,444</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ContractWithCustomerLiability" contextRef="AsOf2021-12-31" format="ixt:zerodash" decimals="0" unitRef="USD">&#8212;</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_407_eus-gaap--ConvertibleNotesPayableCurrent_i01I_maCz1Dy_zwO5VrlcsIX4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Convertible notes
payable, current, net of discount</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ConvertibleNotesPayableCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">6,728,729</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ConvertibleNotesPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">8,109,436</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40E_eus-gaap--ConvertibleNotesPayable_i01I_maCz1Dy_z99xcs63qxwk" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Convertible notes
payable, <i style="font-style: normal; font-weight: normal">Stanley Hills LLC</i>, net of discount</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ConvertibleNotesPayable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">116,605</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ConvertibleNotesPayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">116,605</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--NotesPayableCurrent_i01I_maCz1Dy_ztBeWT4MPhc1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Notes payable,
current</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NotesPayableCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,635,256</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NotesPayableCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">2,612,397</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40B_eus-gaap--NotesPayable_i01I_maCz1Dy_ztwnkYdNrJBa" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Notes payable,
<i style="font-style: normal; font-weight: normal">Alpha</i></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">140,000</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">140,000</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_404_eus-gaap--DueToRelatedPartiesCurrent_i01I_maCz1Dy_zucmy5h4I1O1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Due to related
party</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:DueToRelatedPartiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">17,137</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0113">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_406_eus-gaap--DerivativeLiabilitiesCurrent_i01I_maCz1Dy_zf9U4gghG768" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Derivative liability</td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:DerivativeLiabilitiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,612,746</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:DerivativeLiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">10,192,485</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--LiabilitiesCurrent_i01TI_mtCz1Dy_maCzwu6_z6erztYlVije" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total current liabilities</td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,085,083</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:LiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">32,406,629</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="padding: 0pt 0pt 0pt 20pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40C_eus-gaap--LiabilitiesNoncurrentAbstract_i01B_zvEniZE6DL8d" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt; text-align: left; text-indent: 0pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Noncurrent
Liabilities:</b></span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40B_eus-gaap--ConvertibleDebtNoncurrent_i01I_maCzhxs_zQJgya8LKJog" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Convertible note
payable, noncurrent, net of discount</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ConvertibleDebtNoncurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">37,271</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:ConvertibleDebtNoncurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">35,797</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_406_eus-gaap--LongTermNotesPayable_i01I_maCzhxs_ziHsJ1qdgmu7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Note payable, noncurrent</td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:LongTermNotesPayable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">314,744</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:LongTermNotesPayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">337,603</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40A_eus-gaap--LiabilitiesNoncurrent_i01TI_mtCzhxs_maCzwu6_zztrolsBW8if" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total noncurrent
liabilities</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:LiabilitiesNoncurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">352,015</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:LiabilitiesNoncurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">373,400</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40F_eus-gaap--Liabilities_iTI_mtCzwu6_maCzzp4_z6e1Vr0KKyel" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 40pt; text-align: left; text-indent: -10pt">Total liabilities</td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Liabilities" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">25,437,098</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:Liabilities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">32,780,029</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_402_eus-gaap--StockholdersEquityAbstract_iB_zg9cgXVpRDy9" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Stockholders' Deficit:</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span id="xdx_903_eus-gaap--PreferredStockSharesIssued_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zhJiy8xqvRMd" title="Preferred stock, shares issued" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_903_eus-gaap--PreferredStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zHkK9lzHHl23"><span id="xdx_907_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zKTx1LuK7Eg" title="Preferred stock, shares outstanding"><span id="xdx_907_eus-gaap--PreferredStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_z24TrL3cqcKi"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2022-06-30_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2022-06-30_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">45,000</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares issued and outstanding,&#160; <br />Series B
Preferred stock, $<span id="xdx_907_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zJOpI2V79vM2" title="Preferred stock, par value"><span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zuq97HeUFXrh"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.00001</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">par value; <span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zrIfLy9zdKak" title="Preferred stock, shares authorized"><span id="xdx_90E_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_zAI1tm7A2Hb4"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2022-06-30_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,000,000</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares authorized;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_986_eus-gaap--PreferredStockValue_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0151">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_984_eus-gaap--PreferredStockValue_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0153">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span id="xdx_90E_eus-gaap--PreferredStockSharesIssued_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_pdd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zz2x2SO4k36c"><span id="xdx_901_eus-gaap--PreferredStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zSajwjJ334Oa"><span id="xdx_908_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zNUNLuCW6lcg"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2022-06-30_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2022-06-30_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">700</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares issued and outstanding, <br />Series C Preferred
stock, $<span id="xdx_900_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zn3lvermugb5"><span id="xdx_905_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zv5nvHQ8TmNd"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.00001</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">par value; <span id="xdx_903_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zl3XY9FCb9n3"><span id="xdx_905_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_zU57y27SgEQ8"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2022-06-30_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares authorized;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_98F_eus-gaap--PreferredStockValue_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0163">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_98B_eus-gaap--PreferredStockValue_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0165">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span id="xdx_90F_eus-gaap--PreferredStockSharesIssued_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_pdd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_907_eus-gaap--PreferredStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_z8wMguYfJuY1"><span id="xdx_90B_eus-gaap--PreferredStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_z1oLb95sOyw8"><span id="xdx_909_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zx9ODqGVU78f"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2022-06-30_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2022-06-30_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">0</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares issued and outstanding, <br />Series D Preferred
stock, $<span id="xdx_905_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zpvZgLMG9jbg"><span id="xdx_90C_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zZSp28CVxkTd"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.00001</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">par value; <span id="xdx_909_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zcExCxfhdZ5b"><span id="xdx_906_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_zE17XCObWhBd"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2022-06-30_us-gaap_SeriesDPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares authorized;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_98A_eus-gaap--PreferredStockValue_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0175">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_985_eus-gaap--PreferredStockValue_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0177">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span id="xdx_90A_eus-gaap--PreferredStockSharesIssued_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_pdd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_901_eus-gaap--PreferredStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zNQdWmxS7Ds3"><span id="xdx_90B_eus-gaap--PreferredStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zgEJSUTFHcrl"><span id="xdx_90E_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zW3gn6UEqzb6"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2022-06-30_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2022-06-30_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">0</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares issued and outstanding, <br />Series G Preferred
stock, $<span id="xdx_90E_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_z1t4Fqp9Si6d"><span id="xdx_909_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zhfVhr39qFJh"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.00001</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">par value; <span id="xdx_90D_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zmvw53p5ccIg"><span id="xdx_909_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_zXVBd7M1EuO2"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2022-06-30_us-gaap_SeriesGPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,000,000</ix:nonFraction></ix:nonFraction>
</span></span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares authorized;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_98E_eus-gaap--PreferredStockValue_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesGPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0187">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_987_eus-gaap--PreferredStockValue_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0189">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt"><span id="xdx_90B_eus-gaap--PreferredStockSharesIssued_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdd" style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_908_eus-gaap--PreferredStockSharesIssued_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zJ4NfyJmky3l"><span id="xdx_901_eus-gaap--PreferredStockSharesOutstanding_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zq7utwVe4z21"><span id="xdx_90E_eus-gaap--PreferredStockSharesOutstanding_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zbR9a0mmwQi5"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2022-06-30_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesIssued" contextRef="AsOf2021-12-31_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2022-06-30_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2021-12-31_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,000</ix:nonFraction></ix:nonFraction></ix:nonFraction></ix:nonFraction></span></span></span>
</span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares issued and outstanding, <br />Series H Preferred
stock, $<span id="xdx_901_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zkmMpgCFcY16"><span id="xdx_907_eus-gaap--PreferredStockParOrStatedValuePerShare_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zTwpI8Jq1kd7"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:PreferredStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.00001</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">par value ($500.00 stated value); <span id="xdx_90A_eus-gaap--PreferredStockSharesAuthorized_iI_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_z38XDuzAZBxa"><span id="xdx_90C_eus-gaap--PreferredStockSharesAuthorized_iI_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zpBWQSpr6aP1"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2021-12-31_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:PreferredStockSharesAuthorized" contextRef="AsOf2022-06-30_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">40,000</ix:nonFraction></ix:nonFraction></span>
</span></span><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">shares authorized;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_98B_eus-gaap--PreferredStockValue_c20220630__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesDPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0199">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td id="xdx_988_eus-gaap--PreferredStockValue_c20211231__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdp0" title="Preferred stock value" style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><span style="-sec-ix-hidden: xdx2ixbrl0201">&#8212;</span></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_401_eus-gaap--CommonStockValue_iI_pp0p0_maCzdTa_zHHH2sB7eAGl" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Common
stock, $<span id="xdx_903_eus-gaap--CommonStockParOrStatedValuePerShare_c20220630_pdd" title="Common Stock, Par or Stated Value Per Share"><span id="xdx_901_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20211231_zj7s9qGQu1Jl" title="Common Stock, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.00001</ix:nonFraction></ix:nonFraction></span></span>
par value; <span id="xdx_900_eus-gaap--CommonStockSharesAuthorized_c20220630_pdd" title="Common Stock, Shares Authorized"><span id="xdx_90C_eus-gaap--CommonStockSharesAuthorized_iI_c20211231_z4iv9h27lvgl" title="Common Stock, Shares Authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,000,000,000</ix:nonFraction></ix:nonFraction></span></span>
shares authorized;</span> <span id="xdx_90E_eus-gaap--CommonStockSharesOutstanding_c20220630_pdd" title="Common Stock, Shares, Outstanding"><span id="xdx_904_eus-gaap--CommonStockSharesIssued_c20220630_pdd" title="Common Stock, Shares, Issued"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">977,741,469</ix:nonFraction></ix:nonFraction></span></span>
and <span id="xdx_903_eus-gaap--CommonStockSharesOutstanding_iI_c20211231_z3QGJZGcrZcg" title="Common Stock, Shares, Outstanding"><span id="xdx_901_eus-gaap--CommonStockSharesIssued_iI_c20211231_zw94fouanQ5" title="Common Stock, Shares, Issued"><ix:nonFraction name="us-gaap:CommonStockSharesOutstanding" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:CommonStockSharesIssued" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,133,489</ix:nonFraction></ix:nonFraction></span></span>
shares issued and outstanding, <br />at June 30, 2022 and December 31, 2021</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">9,778</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:CommonStockValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">332</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40C_eus-gaap--TreasuryStockValue_iNI_pp0p0_di_msCzdTa_zxihC2XNir7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-indent: -10pt">Treasury stock, at cost; <span id="xdx_905_eus-gaap--TreasuryStockShares_c20220630_pdd" title="Treasury Stock, Shares"><span id="xdx_900_eus-gaap--TreasuryStockShares_iI_c20211231_zRqYnkTc868l" title="Treasury Stock, Shares"><ix:nonFraction name="us-gaap:TreasuryStockShares" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares"><ix:nonFraction name="us-gaap:TreasuryStockShares" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">21</ix:nonFraction></ix:nonFraction></span></span> shares
at June 30, 2022 and December 31, 2021</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:TreasuryStockValue" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">643,059</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:TreasuryStockValue" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">643,059</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_404_ecustom--StockLoanReceivable_iI_maCzdTa_zBsEKTNs1T27" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Stock loan receivable</td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="gtch:StockLoanReceivable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,610,147</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="gtch:StockLoanReceivable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">7,610,147</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_40B_eus-gaap--AdditionalPaidInCapital_iI_maCzdTa_zLSbCb3KFRHi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Additional paid
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<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AdditionalPaidInCapital" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">287,617,690</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:AdditionalPaidInCapital" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">284,072,666</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr id="xdx_40E_eus-gaap--RetainedEarningsAccumulatedDeficit_iI_maCzdTa_zQVorx1Grooi" style="vertical-align: bottom; background-color: White">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Accumulated deficit</td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif">(<ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">304,581,773</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_405_eus-gaap--StockholdersEquity_iTI_mtCzdTa_maCzzp4_zQIeMkBiPs0j" style="vertical-align: bottom; background-color: rgb(204,238,255)">
<td style="font: 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Total stockholders'
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 1pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">)</span></td></tr>
<tr id="xdx_40E_eus-gaap--LiabilitiesAndStockholdersEquity_iTI_mtCzzp4_zz0eH35EmUwk" style="vertical-align: bottom; background-color: White">
<td style="font: bold 10pt Times New Roman, Times, Serif; padding: 0pt 0pt 0pt 40pt; text-align: left; text-indent: -10pt">Total liabilities
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
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<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">$</span></td>
<td style="border-bottom: Black 2.5pt double; font: 10pt Times New Roman, Times, Serif; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"><ix:nonFraction name="us-gaap:LiabilitiesAndStockholdersEquity" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" unitRef="USD">4,018,048</ix:nonFraction></span></td>
<td style="font: 10pt Times New Roman, Times, Serif; padding-bottom: 2.5pt; text-align: left"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
</table>




<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 100%"><span style="font: 10pt Times New Roman, Times, Serif">The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 100%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT TECHNOLOGIES INC.</b></span></td></tr>
  <tr style="vertical-align: top">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_003"></span>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS</b></span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellpadding="0" cellspacing="0" id="xdx_300_113_zP0KKlWbLcv7" summary="xdx: Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">Operating expenses:</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40E_eus-gaap--AmortizationOfFinancingCosts_i01N_di_msCzQry_znKdxD1hFIQk" style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:AmortizationOfFinancingCosts" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">239,394</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr id="xdx_408_eus-gaap--InterestExpense_i01N_di_msCzQry_z8whc8i4sH6f" style="vertical-align: bottom; background-color: White">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:InterestExpense" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">233,900</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:InterestExpense" contextRef="From2021-04-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">304,939</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:InterestExpense" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">1,147,490</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_40E_eus-gaap--MarketableSecuritiesUnrealizedGainLoss_i01_maCzQry_zE7JkZRmIW32" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:MarketableSecuritiesUnrealizedGainLoss" contextRef="From2021-04-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">726,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr id="xdx_40F_eus-gaap--MarketableSecuritiesRealizedGainLoss_i01_maCzQry_zbTzQfVqhYW6" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_408_eus-gaap--GainsLossesOnRestructuringOfDebt_i01_maCzQry_zOuCayLqWaUa" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Loss on debt modification</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:GainsLossesOnRestructuringOfDebt" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">13,777,480</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_402_ecustom--GainOnSurgeSettlement_i01_maCzQry_zeM0fv6DIdi7" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Gain on SURGE settlement</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_408_eus-gaap--WeightedAverageNumberOfSharesOutstandingAbstract_iB_ziv9b5qZQr2l" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 100%"><span style="font: 10pt Times New Roman, Times, Serif">The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
  <tr>
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; white-space: nowrap; width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_004"></span>GBT
    TECHNOLOGIES INC.</b></span></td></tr>
  <tr style="vertical-align: bottom">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONDENSED
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  <tr style="vertical-align: bottom">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>(unaudited)</b></span></td></tr>
  </table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0467">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0468">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0469">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#160;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom">
    <td colspan="57" style="padding: 0pt 0pt 0pt 10pt; text-align: center">The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.</td></tr>
</table>

<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

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<p style="margin: 0">&#160;</p>

<p style="margin: 0"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
  <tr>
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  <tr style="vertical-align: bottom">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>CONDENSED
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<p style="margin: 0">&#160;</p>

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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0636">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0637">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0638">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0639">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 100%"><span style="font: 10pt Times New Roman, Times, Serif">The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 100%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_005"></span>GBT TECHNOLOGIES INC.</b></span></td></tr>
  <tr style="vertical-align: top">
    <td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS</b></span></td></tr>
  </table>

<p style="margin: 0">&#160;</p>

<table cellpadding="0" cellspacing="0" id="xdx_303_112_zacXpVn7dRuj" summary="xdx: Statement - UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">&#160;</td><td>&#160;</td>
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<tr style="vertical-align: bottom">
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  <tr id="xdx_409_ecustom--ChangeInFairValueOfDerivativeLiability_i02_maCzh7U_zPumbfU9bCpd" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Change in fair value of derivative liability</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="gtch:ChangeInFairValueOfDerivativeLiability" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">3,150,739</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
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  <tr id="xdx_402_ecustom--ExcessOfDebtDiscountAndFinancingCosts_i02_maCzh7U_zZGIGOovHD56" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Excess of debt discount and financing costs</td><td>&#160;</td>
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  <tr id="xdx_402_eus-gaap--IssuanceOfStockAndWarrantsForServicesOrClaims_i02_maCzh7U_zklMxxs1j2C7" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Shares issued for services</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0747">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IssuanceOfStockAndWarrantsForServicesOrClaims" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">281,750</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_406_eus-gaap--GainsLossesOnRestructuringOfDebt_i02N_di_msCzh7U_zEJtGjycZ0jd" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Loss on modification of debt</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0750">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_400_eus-gaap--AssetImpairmentCharges_i02_maCzh7U_za5Cd4rBKKe" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Impairment loss</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0753">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Realized (gain) loss on market equity security</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0756">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:RealizedGainLossOnMarketableSecuritiesCostMethodInvestmentsAndOtherInvestments" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">11,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_40E_ecustom--PaymentOfOtherIncomeWithMarketableSecurities_i02N_di_msCzh7U_zqKbNbL4qpK5" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Payment of other income with marketable securities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0759">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="gtch:PaymentOfOtherIncomeWithMarketableSecurities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">600,000</ix:nonFraction></td><td style="text-align: left">)</td></tr>
  <tr id="xdx_402_ecustom--ChangeInFairValueOfMarketableSecuritie_i02_maCzh7U_zizuSNPRphjg" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Change in fair value of market equity security</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0763">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--IncreaseDecreaseInOperatingCapitalAbstract_i01B_zy0APC6ZuWwi" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Changes in operating assets and liabilities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--IncreaseDecreaseInOtherReceivables_i02N_di_msCzh7U_zk2uWpiEkOGf" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Other receivable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInOtherReceivables" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">3,747,836</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0769">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--IncreaseDecreaseInInventories_i02N_di_msCzh7U_zX8pbYooRNV2" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 30pt; text-indent: -10pt">Inventory</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInInventories" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">60,925</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0772">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40C_eus-gaap--IncreaseDecreaseInDeferredRevenue_i02_maCzh7U_z3LQhdD3QsF7" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Unearned revenue</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInDeferredRevenue" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">225</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0775">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_408_eus-gaap--IncreaseDecreaseInContractWithCustomerLiability_i02_maCzh7U_zUckL73jriag" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 30pt; text-align: left; text-indent: -10pt">Contract liabilities</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInContractWithCustomerLiability" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">3,556</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0778">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40D_eus-gaap--IncreaseDecreaseInAccountsPayableAndAccruedLiabilities_i02_maCzh7U_zoDdDSUZFUWh" style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">1,330,044</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:IncreaseDecreaseInAccountsPayableAndAccruedLiabilities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">780,829</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_408_eus-gaap--NetCashProvidedByUsedInOperatingActivities_i01T_mtCzh7U_maCzcWV_zCkOd5QJBXMf" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">235,328</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInOperatingActivities" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">946,462</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_409_eus-gaap--NetCashProvidedByUsedInOperatingActivitiesAbstract_iB_zMjprzmrRPne" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">Cash Flows From Investing Activities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_407_ecustom--InvestmentToGtx_i01N_di_msCznfU_z6uOX5hdSwgk" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Investment to GTX</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="gtch:InvestmentToGtx" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">150,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0790">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_ecustom--InvestmentToTghi_i01N_di_msCznfU_z0veNctTyJD9" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Investment to TGHI</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="gtch:InvestmentToTghi" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">125,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0793">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr id="xdx_405_eus-gaap--NetCashProvidedByUsedInInvestingActivities_iT_mtCznfU_maCzcWV_z5ovyPXLjzYe" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Net cash used in investing activities</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="us-gaap:NetCashProvidedByUsedInInvestingActivities" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" sign="-" unitRef="USD">275,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0796">&#8212;</span></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td></tr>
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    <td style="padding: 0pt 0pt 0pt 10pt; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40F_eus-gaap--NetCashProvidedByUsedInFinancingActivitiesAbstract_iB_zIxR5sytlLej" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; font-weight: bold; text-align: left; text-indent: -10pt">Cash Flows From Financing Activities:</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_406_eus-gaap--ProceedsFromIssuanceOfDebt_i01_maCzci7_zW2YB6Ghomp1" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Issuance of convertible notes</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfDebt" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOfDebt" contextRef="From2021-01-012021-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">851,884</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_ecustom--IssuanceOfNoteReceivable_i01N_di_msCzci7_zkayFj5X5sHk" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Issuance of note receivable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(<ix:nonFraction name="gtch:IssuanceOfNoteReceivable" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">100,000</ix:nonFraction></td><td style="text-align: left">)</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0805">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_40B_eus-gaap--ProceedsFromIssuanceOrSaleOfEquity_i01_maCzci7_zI5YzSdTtoKc" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Proceeds from sales of common stock</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="us-gaap:ProceedsFromIssuanceOrSaleOfEquity" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">231,865</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl0808">&#8212;</span></td><td style="text-align: left">&#160;</td></tr>
  <tr id="xdx_404_eus-gaap--RepaymentsOfRelatedPartyDebt_i01N_di_msCzci7_zIeu3zzjXvh8" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">Repayments to related party</td><td>&#160;</td>
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<table cellspacing="0" cellpadding="0" style="width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td style="font: 11pt Calibri, Helvetica, Sans-Serif; text-align: center; width: 100%"><span style="font: 10pt Times New Roman, Times, Serif">The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.</span></td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<!-- Field: Page; Sequence: 7; Value: 1 -->
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_006"></span>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:BusinessDescriptionAndBasisOfPresentationTextBlock"><p id="xdx_801_eus-gaap--BusinessDescriptionAndBasisOfPresentationTextBlock_zlxhagMR1Yll" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note
1 - <span id="xdx_82B_zYgHfS8Wso4e">Organization and Basis of Presentation</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Organization
and Line of Business</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GBT
Technologies Inc. (the &#8220;Company&#8221;, &#8220;GBT&#8221;, or &#8220;GTCH&#8221;) was incorporated on July 22, 2009 under the laws
of the State of Nevada. The Company targets growing markets such as development of Internet of Things (IoT) and Artificial Intelligence
(AI) enabled networking and tracking technologies, including wireless mesh network technology platform and fixed solutions, development
of an intelligent human body vitals device, asset-tracking IoT, and wireless mesh networks. The Company derived revenues from (i) the
provision of IT&#160;consulting services; and (ii) from selling electronic products through e-commerce platforms like Amazon and eBay
for the three and six months ended June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement (&#8220;RSA&#8221;) with Mahaser LTD.
(&#8220;Mahaser&#8221;) pursuant to which the Company shares revenues generated by Mahaser with respect to e-commerce sales through the
online retail platform in the United States of America.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
unaudited condensed consolidated financial statements are prepared by the Company, pursuant to the rules and regulations of the Securities
Exchange Commission (&#8220;SEC&#8221;). The information furnished herein reflects all adjustments, consisting only of normal recurring
adjustments, which in the opinion of management, are necessary to fairly state the Company&#8217;s financial position, the results of
its operations, and cash flows for the periods presented. Certain information and footnote disclosures normally present in annual financial
statements prepared in accordance with accounting principles generally accepted in the United States of America were omitted pursuant
to such rules and regulations. The results of operations for the six months ended June 30, 2022 are not necessarily indicative of the
results expected for the year ending December 31, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Basis
of Presentation</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying CFS were prepared in conformity with accounting principles generally accepted in
the United States of America (&#8220;U.S. GAAP&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<ix:exclude><p id="xdx_23A_zH3AkNeWyYi2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23E_zcPaQTEzyLEk" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span>&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_236_zBLj2UuPshn6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zbaxzTHfHQc5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zg4jxxsFHzMi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stock
Splits</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 26, 2021, the Company effectuated a&#160;<span id="xdx_900_eus-gaap--StockholdersEquityReverseStockSplit_c20211001__20211026" title="Reverse stock split"><ix:nonNumeric contextRef="From2021-10-012021-10-26" name="us-gaap:StockholdersEquityReverseStockSplit">1 for 50</ix:nonNumeric></span>&#160;reverse stock split.&#160;The share and per share information were retroactively
restated to reflect this reverse stock split.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Going
Concern</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying CFS were prepared assuming that&#160;the Company&#160;will continue as a going concern.&#160;The
Company&#160;has an accumulated deficit of $<span id="xdx_90F_eus-gaap--RetainedEarningsAccumulatedDeficit_iNI_pp0p0_di_c20220630_zXOQFnaa0Ld7" title="Accumulated deficit"><ix:nonFraction name="us-gaap:RetainedEarningsAccumulatedDeficit" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">304,096,671</ix:nonFraction></span> and a working capital deficit of $<span id="xdx_901_ecustom--WorkingCapitalDeficit_c20220101__20220630_pp0p0" title="Working capital deficit"><ix:nonFraction name="gtch:WorkingCapitalDeficit" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">24,370,394</ix:nonFraction></span> as of June 30, 2022, which raises
substantial doubt about its ability to continue as a going concern.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company&#8217;s ability to continue as a going concern is dependent upon its ability to generate profitable operations in the future
and/or obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when
they come due. Management has plans to seek additional capital through some private placement offerings of debt and equity securities.
These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded
asset amounts, or amounts and classification of liabilities that might result from this uncertainty.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:SignificantAccountingPoliciesTextBlock"><p id="xdx_80D_eus-gaap--SignificantAccountingPoliciesTextBlock_zLGg7CoKqeC3" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
2 &#8211; <span id="xdx_825_z0jEFzq3GiS3">Summary of Significant Accounting Policies</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:UseOfEstimates"><p id="xdx_840_eus-gaap--UseOfEstimates_zUqb3raimpQh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_864_zk1fyIKaufn4">Use
of Estimates</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
preparation of CFS in conformity with U.S. GAAP requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated
financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates
and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that
it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values
of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results
experienced by the Company may differ materially and adversely from the Company&#8217;s estimates. To the extent there are material differences
between the estimates and the actual results, future results of operations will be affected. Significant estimates in the accompanying
financial statements include leases, valuation of derivatives and valuation allowance on deferred tax assets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ConsolidationPolicyTextBlock"><p id="xdx_845_eus-gaap--ConsolidationPolicyTextBlock_zkEYdEuhabE5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_864_zvpEWgnv4wfb">Principles
of Consolidation</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
accompanying consolidated financial statements include the accounts of the Company and its subsidiaries; the Company&#8217;s 50% owned
subsidiaries GBT BitSpeed Corp. and GBT Tokenize Corp; the Company&#8217;s 50% owned subsidiary, Gopher Protocol Costa Rica Sociedad
De Responsabilidad Limitada (currently inactive&#160;&#160;), a wholly owned subsidiary, AltCorp Trading LLC, a Costa Rica company (&#8220;AltCorp&#8221;),
Greenwich International Holdings, a Costa Rica corporation (&#8220;Greenwich&#8221;) and Mahaser Ltd., a variable interest entity. All
significant intercompany transactions and balances were eliminated in consolidation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt; background-color: white">For
entities determined to be VIEs, an evaluation is required to determine whether the Company is the primary beneficiary. The Company evaluates
its economic interests in the entity specifically determining if the Company has both the power to direct the activities of the VIE that
most significantly impact the VIE&#8217;s economic performance (&#8220;the power&#8221;) and the obligation to absorb losses or the right
to receive benefits that could potentially be significant to the VIE (&#8220;the benefits&#8221;). When making the determination whether
the benefits received from an entity are significant, the Company considers the total economics of the entity, and analyzes whether the
Company&#8217;s share of the economics is significant. The Company utilizes qualitative factors, and, where applicable, quantitative
factors, while performing the analysis.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, the Company&#8217;s variable interests in Mahaser obligate the Company to absorb deficits and provide it with the right to
receive benefits that could potentially be significant to Mahaser. As a result of this analysis, the Company concluded it is the primary
beneficiary of Mahaser and therefore consolidates the balance sheets, results of operations and cash flows of Mahaser. The Company performs
a qualitative assessment of Mahaser on an ongoing basis to determine if it continues to be the primary beneficiary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<ix:exclude><p id="xdx_230_zh2rpc7U0Wlg" style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_237_z8CczjEbAQLl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span>&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23C_zBNFMagqHu8i" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zl4lAP5Gc9sc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

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</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:CashAndCashEquivalentsPolicyTextBlock"><p id="xdx_84F_eus-gaap--CashAndCashEquivalentsPolicyTextBlock_zQvB2LZxNkk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86F_zT5OiO5pGXg4">Cash
Equivalents</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">For
the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, and all highly-liquid debt
instruments with original maturities of three months or less. As of June 30, 2022 and December 31, 2021, the Company did <span id="xdx_90E_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20220630_zPMFqo4NUDnl" title="Cash equivalents"><span id="xdx_90A_eus-gaap--CashEquivalentsAtCarryingValue_iI_pp0p0_do_c20211231_zb4wow3CZFl9" title="Cash equivalents"><ix:nonFraction name="us-gaap:CashEquivalentsAtCarryingValue" contextRef="AsOf2022-06-30" format="ixt-sec:numwordsen" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:CashEquivalentsAtCarryingValue" contextRef="AsOf2021-12-31" format="ixt-sec:numwordsen" decimals="0" scale="0" unitRef="USD">no</ix:nonFraction></ix:nonFraction></span></span>t have any
cash equivalents.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy"><p id="xdx_840_eus-gaap--CashAndCashEquivalentsRestrictedCashAndCashEquivalentsPolicy_zTwj2HykIYWd" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_868_zWS7ivlCJB0l">Restricted
Cash</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted
cash represents $<span id="xdx_901_eus-gaap--RestrictedCashEquivalents_iI_pp0p0_c20220630_zeNiGlyh5gn" title="Restricted cash"><ix:nonFraction name="us-gaap:RestrictedCashEquivalents" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">375,000</ix:nonFraction></span> as part of the SURG settlements proceeds that need to stay in escrow and $<span id="xdx_903_eus-gaap--EscrowDeposit_c20220128_pp0p0" title="Escrow amount"><ix:nonFraction name="us-gaap:EscrowDeposit" contextRef="AsOf2022-01-28" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">15,326</ix:nonFraction></span> restricted cash that the court
on January 28, 2022 awarded the Company with injunction against RWJ defendants, where all funds generating from resale should be deposited
into GBT blocked account, and therefore RWJ defendants cannot use these funds without court order, neither the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:CashHeldInTrustPolicyTextBlock"><p id="xdx_844_ecustom--CashHeldInTrustPolicyTextBlock_zPlsM119ppzi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_863_zowRyHCYENM9">Cash
Held in Trust</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
held in trust consists of proceeds from the sale of investments. The proceeds less the payment of certain expenses are being held in
AltCorp&#8217;s (the Company&#8217;s wholly owned subsidiary) attorney trust account. (See Note 5). The cash held in trust is readily
available and there are no restrictions as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:MarketableSecuritiesPolicy"><p id="xdx_84B_eus-gaap--MarketableSecuritiesPolicy_zMy19cWYttK8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_867_zEcMPlx4JQab">Investment
Securities</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for investment securities in accordance with ASC Topic 321, <i>Investments &#8211; equity securities. </i>Marketable
equity securities are reported at fair value based on quotations available on securities exchanges with any unrealized gain or loss being
reported as a component of other income (expense) on the statement of operations. The portion of marketable equity security expected
to be sold within 12 months of the balance sheet date is reported as a current asset. These publicly traded equity securities are valued
using quoted prices and are included in Level 1.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:InventoryPolicyTextBlock"><p id="xdx_84C_eus-gaap--InventoryPolicyTextBlock_zoiuBdr82Ew9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_861_ztKVLxgb98x2">Inventory</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory
consists of electronic product ready for sale on Amazon.com. It is stated at the lower of cost or net realizable value and all inventories
were returned product from online customers. We value our inventory using the weighted average costing method. Our Company&#8217;s policy
is to include as a part of inventory any freight incurred to ship the product from our contract vendors to our warehouses. Outbound freight
costs to our customers are considered period costs and reflected in selling, general and administrative expenses. We regularly review
inventory and consider forecasts of future demand, market conditions and product obsolescence.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:DebtPolicyTextBlock"><p id="xdx_846_eus-gaap--DebtPolicyTextBlock_zUsb11qxIXuc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_864_ziX0gitXJl4g">Note
Receivable</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
September 18, 2020, the Company entered into a Purchase and Sale Agreement with Mr. LightHouse LTD<b>.</b>, an Israeli corporation (&#8220;MLH&#8221;)
pursuant to which the Company agreed to sell and assign to MLH, effective July 1, 2020 all the shares, and certain specified liabilities,
of Ugopherservices Corp. (&#8220;UGO&#8221;), a wholly owned subsidiary of the Company, in consideration of $<span id="xdx_904_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20200901__20200918__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--MrLightHouseLTDMember__us-gaap--TypeOfArrangementAxis__custom--PurchaseAndSaleAgreementMember_pp0p0" title="Consideartion from sale of common stock"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedOnTransaction" contextRef="From2020-09-012020-09-18_custom_MrLightHouseLTDMember_custom_PurchaseAndSaleAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">100,000</ix:nonFraction></span> to be paid through
the delivery of a promissory note payable to the Company (the &#8220;Note&#8221;), upon the terms and subject to the limitations and
conditions set forth in the Note. At December 31, 2020, the Company determined this note was not collectible and took an impairment
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<ix:exclude><p id="xdx_239_zXvUhGn3GD41" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 10; Value: 1 -->
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<ix:exclude><p id="xdx_236_zW3PrAq7MpT9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_238_zgDLm7FqiY59" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zjU0v3EV9di4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_238_zD0RU2e4TT5e" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_236_zZWjgf9mtOvb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:DerivativesReportingOfDerivativeActivity"><p id="xdx_840_eus-gaap--DerivativesReportingOfDerivativeActivity_z6e5iOzfcFJ6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_864_zfkL6aAWz39h">Derivative
Financial Instruments</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company evaluates all of its agreements to determine if they contain derivatives
or have contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities,
the derivative instrument is initially recorded at its &#8220;FV&#8221; and is then re-valued at each reporting date, with changes in
the FV reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a weighted-average
Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification
of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end
of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether
or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. As of June 30, 2022
and December 31, 2021 (audited), the Company&#8217;s only derivative financial instrument was an embedded conversion feature associated
with convertible notes payable due to certain provisions that allow for a change in the conversion price based on a percentage of the
Company&#8217;s stock price at the date of conversion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:FairValueMeasurementPolicyPolicyTextBlock"><p id="xdx_845_eus-gaap--FairValueMeasurementPolicyPolicyTextBlock_zvdWLs3ZmSKf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86F_ze4FYvRDYeqa">Fair
Value of Financial Instruments</span> </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For certain of the Company&#8217;s financial instruments,
including cash, accounts payable, accrued liabilities and short-term debt, the carrying amounts approximate their FVs due to their short
maturities.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">FASB ASC Topic 820, <i>Fair Value Measurements and
Disclosures</i>, requires disclosure of the FV of financial instruments held by the Company. FASB ASC Topic 825, <i>Financial Instruments</i>,
defines fair value, and establishes a three-level valuation hierarchy for disclosures of FV measurement that enhances disclosure requirements
for FV measures. The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities each qualify
as financial instruments and are a reasonable estimate of their FV because of the short period of time between the origination of such
instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined
as follows:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; width: 30px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. </span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. </span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level
3 inputs to the valuation methodology us one or more unobservable inputs which are significant to the FV measurement. </span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic 480, <i>Distinguishing Liabilities
from Equity</i>, and FASB ASC Topic 815, <i>Derivatives and Hedging</i>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">For certain financial instruments, the carrying amounts
reported in the balance sheets for cash and current liabilities, including convertible notes payable, each qualify as a financial instrument,
and are a reasonable estimate of their FVs because of the short period of time between the origination of such instruments and their expected
realization and their current market rate of interest.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company uses Level 2 inputs for its valuation
methodology for derivative liabilities as their FVs were determined using the Black-Scholes-Merton pricing model based on various assumptions.
The Company&#8217;s derivative liabilities are adjusted to reflect fair value at each period end, with any increase or decrease in the
fair value being recorded in results of operations as adjustments to FV of derivatives.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At June 30, 2022 and December 31, 2021, the Company
identified the following assets and liabilities that are required to be presented on the balance sheet at FV:</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_89B_eus-gaap--ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock_zFgc4ABcq0K2" summary="xdx: Disclosure - Summary of Significant Accounting Policies (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">Level 2</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_23A_zEd77kAUIO6k" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_234_zVAMfuLskjQ4" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"></span>&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_230_z1GI3oQWq9ng" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23E_z31gEDz8b9M4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_239_zq8et1fklZui" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><p id="xdx_232_zTZG19Yb1Lhk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_236_zuX2vPFB6uXd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="border-bottom: Black 1pt solid; padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">Description</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</ix:nonNumeric><p id="xdx_8A0_zCC1vYddxg33" style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:TreasuryStockPolicyTextBlock"><p id="xdx_84F_ecustom--TreasuryStockPolicyTextBlock_zcm4I6TVQgAa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_869_zH8RyG8g1Sr3">Treasury
Stock</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Treasury
stock is recorded at cost. The re-issuance of treasury shares is accounted for on a first in, first-out basis and any difference between
the cost of treasury shares and the re-issuance proceeds are charged or credited to additional paid-in capital.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:PriorPeriodReclassificationAdjustmentDescription"><p id="xdx_84C_eus-gaap--PriorPeriodReclassificationAdjustmentDescription_znAbQldLucJg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_865_z2O4kqLeuFwk">Reclassification</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
prior years amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect
on the reported results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:RevenueRecognitionPolicyTextBlock"><p id="xdx_845_eus-gaap--RevenueRecognitionPolicyTextBlock_zTWwC59pYtkl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_861_zkAcraEeIlLl">Revenue
Recognition</span> </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounting
Standards Update (&#8220;ASU&#8221;) No. 2014-09,&#160;<i>Revenue from Contracts with Customers&#160;</i>(&#8220;<i>Topic 606</i>&#8221;),
became effective for the Company on January 1, 2018. The Company&#8217;s revenue recognition disclosure reflects its updated accounting
policies that are affected by this new standard. The Company applied the &#8220;modified retrospective&#8221; transition method for open
contracts for the implementation of&#160;<i>Topic 606.</i> The Company had no significant post-delivery obligations, this new standard
did not<i>&#160;</i>result in a material recognition of revenue on the Company&#8217;s accompanying consolidated financial statements
for the cumulative impact of applying this new standard. The Company made no adjustments to its previously-reported total revenues, as
those periods continue to be presented in accordance with its historical accounting practices under&#160;<i>Topic 605, Revenue Recognition</i>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Revenues
are recognized under&#160;<i>Topic 606</i>&#160;in a manner that reasonably reflects the delivery of its services to customers in return
for expected consideration and includes the following elements:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span style="text-decoration: underline">IT
Consulting services:</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">executed contracts with the Company&#8217;s customers that it believes are legally enforceable;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">identification of performance obligations in the respective contract;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">determination of the transaction price for each performance obligation in the respective contract;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">allocation the transaction price to each performance obligation; and</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">recognition of revenue only when the Company satisfies each performance obligation.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
five elements, as applied to each of the Company&#8217;s IT revenue category, is summarized below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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    consulting&#160;services - revenue is recorded on a monthly basis as services are provided.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">These
five elements, as applied to each of the Company&#8217;s license revenue category, is summarized below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%">
  <tr style="vertical-align: top">
    <td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#9679;</span></td>
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_23D_zPzl1FuDctZf" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 12; Value: 1 -->
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<ix:exclude><p id="xdx_235_zE9biT7zTNQc" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_236_z8dkWbwS7EW5" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_236_z7tNPFnsVAY2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_232_zcTXAV14vrw" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_ziU6Y4zMLDWf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>e-commerce
sales </i>&#8211;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="width: 100%">
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Identify the contract(s) with a customer. ASC 606 defines a contract as &#8220;an agreement between two or more parties that creates enforceable rights and obligations&#8221;. Since this is an e-commerce sale on the Amazon website, the Company just followed the general terms on Amazon website and the customer entered into a contract with the Company based on the product listed on the Amazon website;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Identify the performance obligations in the contract. According to the contract, the Company is responsible for operation exclusively. The Company is entitled to all revenue which is being paid by Amazon into a designated bank account and the Company is responsible for all product acquisitions as well as shipments. The only performance obligations were the electronic products that were listed on Amazon website and the Company determined each order is one single obligation;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Determine the transaction price. The transaction price set to be the listed price on the Amazon website.;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Allocate the transaction price to the performance obligations in the contract.; and</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="font: 12pt Times New Roman, Times, Serif; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Recognize revenue when the Company satisfies a performance obligation. Sales are being recognize upon shipment.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:UnearnedRevenuePoliciesTextBlock"><p id="xdx_847_ecustom--UnearnedRevenuePoliciesTextBlock_zZgmjTqkUHjk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_862_z2uCByNar5yd">Unearned
revenue</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unearned
revenue represents the net amount received for the purchase of products that have not seen shipped to the Company&#8217;s customers.
On November 12, 2020 the Company filed a complaint in the United States District Court &#8211; District of Nevada - Case
2:20-cv-02078 against RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson and against W.L. Petrey Wholesale Company Inc (the
&#8220;RWJ Defendants&#8221;) for fraud, breach of contract, Unjust Enrichment and other claims. On January 28, 2022, the court
awarded the Company with an injunction against RWJ Defendants, where all fee funds generating from resale should be deposited into a
GBT blocked account and, therefore, RWJ Defendants cannot use these funds without court order. $<span id="xdx_90A_eus-gaap--DeferredRevenue_iI_pp0p0_c20220128_z6AJDYOMD9Zb" title="Unearned revenue"><ix:nonFraction name="us-gaap:DeferredRevenue" contextRef="AsOf2022-01-28" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">15,326</ix:nonFraction></span>
been credited as unearned revenue until the court&#8217;s final decision. The Company has $<span id="xdx_90C_eus-gaap--DeferredRevenue_c20220630_pp0p0" title="Unearned revenue"><ix:nonFraction name="us-gaap:DeferredRevenue" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">249,159</ix:nonFraction></span>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:ContractLiabilitiesPolicyTextBlock"><p id="xdx_84B_ecustom--ContractLiabilitiesPolicyTextBlock_zM2BFJPtGOCk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_868_zjb8AkSMUzxi">Contract
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
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Holdings, Inc. (&#8220;Touchpoint&#8221; or &#8220;TGHI&#8221;) pursuant to which the Company granted TGHI a worldwide license for
its technologies for five years in the domains of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies
pertaining to the Company&#8217;s digital currency technology (the &#8220;Technology&#8221;). GBT will charge TGHI royalties based
on actual uses by TGHI of the Technology resulting from revenue attributable to the use, performance or other exploitation of the
Technology, to the extent applicable, after deducting any taxes that the Company may be required to collect, and deducting any
international sales, goods and services, value added taxes or similar taxes which the Company is required to pay, if any, excluding
deductions for taxes on the Company net income. TGHI agreed to issue the Company <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220201__20220222__dei--LegalEntityAxis__custom--TouchPointGroupHoldingMember_pdd" title="Number of shares issued"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-02-012022-02-22_custom_TouchPointGroupHoldingMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></span>
shares of common stock of TGHI &#160;&#160;in the FV of $<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220201__20220222__dei--LegalEntityAxis__custom--TouchPointGroupHoldingMember_pp0p0" title="Fair value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-02-012022-02-22_custom_TouchPointGroupHoldingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">50,000</ix:nonFraction></span>
as a onetime fee in consideration of the Company entering this Intellectual Property License and Royalty Agreement, which was booked
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five-year term. The Company has yet to earn any royalty income in relation to this agreement as of June 30, 2022. The contract
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

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<ix:exclude><p id="xdx_232_zxSy63Si2k04" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

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</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:VariableInterestEntityPolicyTextBlock"><p id="xdx_847_ecustom--VariableInterestEntityPolicyTextBlock_zudM04EAmc72" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_86B_zO1fZkxM9L3l">Variable
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement (&#8220;RSA&#8221;) with Mahaser LTD.
(&#8220;Mahaser&#8221;) pursuant to which the Company shares in revenues generated by Mahaser e-commerce sales through the online retail
platform in the United States of America. Mahaser owns an e-commerce platform as a store which is the legal, exclusive owner of Ravenholm
Electronics. The Company will operate the e-commerce platform and will be entitled to 95% for all revenue generated by and received by
Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides that the Company will be entitled to appoint a
manager to Mahaser. As consideration, the Company will pay Mahaser $<span id="xdx_90B_ecustom--ConsiderationPaid_c20220101__20220630__srt--CounterpartyNameAxis__custom--MahaserMember_pp0p0" title="Consideration paid"><ix:nonFraction name="gtch:ConsiderationPaid" contextRef="From2022-01-012022-06-30_custom_MahaserMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">100,000</ix:nonFraction></span>&#160;no later than March 1, 2022 and issue Mahaser&#160;<span id="xdx_90D_ecustom--ConsiderationShares_c20220101__20220630__us-gaap--AwardTypeAxis__us-gaap--RestrictedStockMember_pdd" title="Consideration shares"><ix:nonFraction name="gtch:ConsiderationShares" contextRef="From2022-01-012022-06-30_us-gaap_RestrictedStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">1,000,000</ix:nonFraction></span>&#160;shares
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Amendment No. 1 to the to the RSA, where all consideration to be paid or issued to Mahaser will be deferred until such time where the
e-commerce platform generated in cumulative revenue of $1,000,000. On March 31, 2022, the parties entered into Amendment No. 2 to the
RSA, where Mahaser agreed to pay the Company 100% per year for all revenue generated by and received by seller from the sales by Amazon
within the United States of America as follows for the period from March 1, 2022 through December 31, 2022. The Company will be responsible
for 100% of the cost of goods sold as well. In addition, the Company is entitled to earn 100% revenues and cost of goods sold of the
test run period from February 1, 2022 to February 28, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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interest in Mahaser. The Company concluded that it has variable interests in Mahaser on the basis of GBT has 100% control over the JV/revenue
sharing, and as such should consolidate the JV into its books and records as it assigned 100% financial responsibility. Mahaser&#8217;s
equity at risk, as defined by GAAP, is considered to be insufficient to finance its activities without additional support, and, therefore,
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<ix:exclude><p id="xdx_23C_zwPGOxiV4CNa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23B_zNO2PMwmdwUj" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
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<ix:exclude><p id="xdx_238_z1hrqepgTJCa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_231_zagGcWX62hMj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

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Taxes</span> </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounts for income taxes in accordance with ASC Topic 740, <i>Income Taxes</i>. ASC 740 requires a company to use the asset
and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences,
and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the
reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the
opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will&#160;not be realized. Deferred
tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Under
ASC 740, a tax position is recognized as a benefit only if it is &#8220;more likely than not&#8221; that the tax position would be sustained
in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that
is greater than 50% likely of being realized on examination. For tax positions not meeting the &#8220;more likely than not&#8221; test,
no tax benefit is recorded. The Company has no material uncertain tax positions for any of the reporting periods presented.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:EarningsPerSharePolicyTextBlock"><p id="xdx_845_eus-gaap--EarningsPerSharePolicyTextBlock_zdKBRjqRXgIi" style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_867_zGm8kI2DFxJ7">Basic
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Earnings
(loss) per share is calculated in accordance with ASC Topic 260, <i>Earnings Per Share</i>. Basic earnings per share (&#8220;EPS&#8221;)
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Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the
beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at
the average market price during the three and six months.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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</ix:nonNumeric><p id="xdx_8AE_zUxog36YilX8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<ix:exclude><p id="xdx_239_z9ARYxUkcIx" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"></p></ix:exclude>

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<ix:exclude><p id="xdx_230_zWVvFa0Rb6lf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zw7wSDP8F5o2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i></i></span></p></ix:exclude>

<ix:exclude><p id="xdx_231_zp4L1FufJ9C6" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23F_z8EZEqk07uN4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
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<ix:exclude><p id="xdx_23A_zfDZqWl5pwnc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_231_zS6YHe8Z9l0f" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:NewAccountingPronouncementsPolicyPolicyTextBlock"><p id="xdx_843_eus-gaap--NewAccountingPronouncementsPolicyPolicyTextBlock_zsMNNvptV1Qb" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i><span id="xdx_866_zg19t2T63Ffc">Recent
Accounting Pronouncements</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In December 2019, the FASB issued ASU 2019-12,&#160;<i>Simplifying
the Accounting for Income Taxes</i>&#160;which amends ASC 740&#160;<i>Income Taxes</i>&#160;(ASC 740). This update is intended to simplify
accounting for income taxes by removing certain exceptions to the general principles in ASC 740 and amending existing guidance to improve
consistent application of ASC 740. This update is effective for fiscal years beginning after December 15, 2021. The guidance in this update
has various elements, some of which are applied on a prospective basis and others on a retrospective basis with earlier application permitted.
The Company have adopted this ASU on the CFS in the quarter ended March 31, 2022. The adoption had no material impact on the CFS in the
period ended June 30, 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">In August 2020, the FASB issued ASU 2020-06<b>,&#160;</b><i>Debt&#8212;Debt
with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging&#8212;Contracts in Entity&#8217;s Own Equity (Subtopic
815-40)&#8212;Accounting for Convertible Instruments and Contracts in an Entity&#8217;s Own Equity.</i>&#160;ASU 2020-06 reduces the number
of accounting models for convertible debt instruments and convertible preferred stock. For convertible instruments with conversion features
that are not required to be accounted for as derivatives under Topic 815,&#160;<i>Derivatives and Hedging</i>, or that do not result in
substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from the host contract.
ASU 2020-06 also removes certain conditions that should be considered in the derivatives scope exception evaluation under Subtopic 815-40,&#160;<i>Derivatives
and Hedging&#8212;Contracts in Entity&#8217;s Own Equity</i>, and clarify the scope and certain requirements under Subtopic 815-40. In
addition, ASU 2020-06 improves the guidance related to the disclosures and earnings-per-share (EPS) for convertible instruments and contract
in entity&#8217;s own equity. ASU 2020-06 is effective for public business entities that meet the definition of a SEC filer, excluding
entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including
interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December
15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning
after December 15, 2020, including interim periods within those fiscal years. The Company adopted this ASU on the CFS in the quarter ended
March 31, 2022. The adoption had no material impact on the CFS in the periods ended June 30, 2022 and March 31, 2022.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On April 2021, the FASB issued ASU 2021-04, &#8220;<span style="text-decoration: underline"><i>Earnings
Per Share (Topic 260), Debt&#8212; Modifications and Extinguishments (Subtopic 470-50), Compensation&#8212;Stock Compensation (Topic 718),
and Derivatives and Hedging&#8212; Contracts in Entity&#8217;s Own Equity (Subtopic 815-40): Issuer&#8217;s Accounting for Certain Modifications
or Exchanges of Freestanding Equity-Classified Written Call Options&#8221;&#160;</i></span>(&#8220;<span style="text-decoration: underline">ASU
2021-04</span>&#8221;) to clarify the accounting by issuers for modifications or exchanges of equity-classified warrants. The new ASU
is available here and effective for all entities in fiscal years starting after December 15, 2021. Early adoption is permitted. The Company
has adopted this ASU on the CFS in the quarter ended March 31, 2022. The adoption had no material impact on the CFS in the periods ended
June 30, 2022 and March 31, 2022.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Management
does not believe that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying
consolidated financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_237_z1xynYoMBal2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_235_zuNhidUmMWA8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zfQ8VyzaFyn5" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span>&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_236_zw0XATZgo4dg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zqOpXLCXkp2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_znMMHNGMTJqj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric></ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:CashAndCashEquivalentsDisclosureTextBlock"><p id="xdx_800_eus-gaap--CashAndCashEquivalentsDisclosureTextBlock_zcutiH5QY2Y" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
3 &#8211; <span id="xdx_82A_zpZYw3kx0NJl">Cash, Restricted Cash, and Cash held in Trust</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Cash
consist of amounts held as bank deposits, amounts held in escrow and highly liquid debt instruments purchased with an original maturity
of three months or less.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">From
time to time, we may maintain bank balances in interest bearing accounts in excess of the $<span id="xdx_900_eus-gaap--CashFDICInsuredAmount_c20220630_pp0p0" title="FDIC insured amount"><ix:nonFraction name="us-gaap:CashFDICInsuredAmount" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">250,000</ix:nonFraction></span>&#160;currently insured by the Federal
Deposit Insurance Corporation for interest bearing accounts (there is currently no insurance limit for deposits in noninterest bearing
accounts). We have not experienced any losses with respect to cash. Management believes our Company is not exposed to any significant
credit risk with respect to its cash.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Restricted
cash represents $<span id="xdx_901_eus-gaap--RestrictedCash_c20220630__dei--LegalEntityAxis__custom--GBTMember_pp0p0" title="Restricted cash"><ix:nonFraction name="us-gaap:RestrictedCash" contextRef="AsOf2022-06-30_custom_GBTMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">375,000</ix:nonFraction></span> as part of the SURG settlement proceeds that need to stay in escrow and $<span id="xdx_903_eus-gaap--EscrowDeposit_iI_pp0p0_c20220128_zPrzpTnLoUH5" title="Escrow amount"><ix:nonFraction name="us-gaap:EscrowDeposit" contextRef="AsOf2022-01-28" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">15,326</ix:nonFraction></span> restricted cash that the court
on January 28, 2022 awarded the Company with an injunction against RWJ Defendants, where all fee funds generating from resale should
be deposited into a GBT blocked account and, therefore, RWJ Defendants cannot use these funds without court order.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As&#160;&#160;
of June 30, 2022 and December 31, 2021 (audited), the Company held cash in the amount of $<span id="xdx_903_ecustom--Cashs_c20220630_pp0p0" title="Cash"><ix:nonFraction name="gtch:Cashs" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">74,110</ix:nonFraction></span>
and $<span id="xdx_904_ecustom--Cashs_c20211231_pp0p0" title="Cash"><ix:nonFraction name="gtch:Cashs" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">155,106</ix:nonFraction></span>,
respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022 and December 31, 2021 (audited), the Company held restricted cash in the amount of $<span id="xdx_901_eus-gaap--RestrictedCash_iI_pp0p0_c20220630_z60OOot4lJR1" title="Restricted cash"><ix:nonFraction name="us-gaap:RestrictedCash" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">390,326</ix:nonFraction></span>&#160;and
$<span id="xdx_908_eus-gaap--RestrictedCash_iI_pp0p0_c20211231_zwF2WLTCFCl2" title="Restricted cash"><ix:nonFraction name="us-gaap:RestrictedCash" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span>,
respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022 and December 31, 2021 (audited), the Company held cash in the trust account of $<span id="xdx_900_eus-gaap--AssetsHeldInTrustCurrent_c20220630_pp0p0" title="Cash held in trust"><ix:nonFraction name="us-gaap:AssetsHeldInTrustCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span>&#160;and
$<span id="xdx_90C_eus-gaap--AssetsHeldInTrustCurrent_c20211231_pp0p0" title="Cash held in trust"><ix:nonFraction name="us-gaap:AssetsHeldInTrustCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">112,942</ix:nonFraction></span>,
respectively. The cash in the trust account do not have any restrictions.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:MarketableSecuritiesTextBlock"><p id="xdx_800_eus-gaap--MarketableSecuritiesTextBlock_zLCeKQQsprQ1" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
4 &#8211; <span id="xdx_82F_zuo9ACS79Imh">Marketable Securities</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TGHI
Agreement</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
January 28, 2022,&#160;the&#160;Company&#160;entered into a Stock Purchase Agreement with Marko Radisic (the &#8220;Seller&#8221;) and
Touchpoint Group Holdings, Inc. (&#8220;TGHI&#8221;) pursuant to which the Company acquired <span id="xdx_90C_eus-gaap--BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued_c20220103__20220128__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember__us-gaap--StatementClassOfStockAxis__custom--SeriesAConvertiblePreferredStockMember_pdd" title="Shares acquired"><ix:nonFraction name="us-gaap:BusinessAcquisitionEquityInterestsIssuedOrIssuableNumberOfSharesIssued" contextRef="From2022-01-032022-01-28_custom_StockPurchaseAgreementMember_custom_SeriesAConvertiblePreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000</ix:nonFraction></span> shares of Series A Convertible Preferred
Stock (the &#8220;Touchpoint Preferred&#8221;) from the Seller for $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20220103__20220128__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember_pp0p0" title="Sales consideration"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedOnTransaction" contextRef="From2022-01-032022-01-28_custom_StockPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">125,000</ix:nonFraction></span>. The Touchpoint Preferred is convertible into <span id="xdx_901_eus-gaap--PreferredStockConvertibleSharesIssuable_c20220128__us-gaap--TypeOfArrangementAxis__custom--StockPurchaseAgreementMember_pdd" title="Convertible preferred shares"><ix:nonFraction name="us-gaap:PreferredStockConvertibleSharesIssuable" contextRef="AsOf2022-01-28_custom_StockPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></span>
shares of common stock of Touchpoint. On February 22, 2022, the Company entered into an Intellectual Property License and Royalty Agreement
with<b>&#160;</b>TGHI pursuant to which the Company granted TGHI a worldwide license for its technologies for five years in the domains
of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies pertaining to the Company&#8217;s digital currency
technology (the &#8220;Technology&#8221;). GBT will charge TGHI earned royalties based on actual uses by TGHI of the Technology resulting
from revenue attributable to the use, performance or other exploitation of the Technology, to the extent applicable, after deducting
any taxes that the Company may be required to collect, and deducting any international sales, goods and services, value added taxes or
similar taxes which the Company is required to pay, if any, excluding deductions for taxes on the Company net income. TGHI agreed to
issue the Company <span id="xdx_903_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220202__20220222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TouchpointGroupHoldingsIncMember_pdd" title="Issuance of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-02-022022-02-22_custom_TouchpointGroupHoldingsIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></span> shares of common stock of TGHI in the fair value of $<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220202__20220222__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TouchpointGroupHoldingsIncMember_pp0p0" title="Fair value of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-02-022022-02-22_custom_TouchpointGroupHoldingsIncMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">50,000</ix:nonFraction></span> as an one-time fee in consideration of the Company
entering this Intellectual Property License and Royalty Agreement, which was booked contract liabilities and amortized over the five-year
term. The Company have yet to earn any royalty income in relation to this agreement as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">TGHI
converted the Touchpoint Preferred into <span id="xdx_90B_eus-gaap--PreferredStockConvertibleSharesIssuable_c20220223__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TouchpointGroupHoldingsIncMember_pdd" title="Convertible preferred shares"><ix:nonFraction name="us-gaap:PreferredStockConvertibleSharesIssuable" contextRef="AsOf2022-02-23_custom_TouchpointGroupHoldingsIncMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></span> shares of common stock of Touchpoint on February 23,2022 resulting in the Company
owning <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220201__20220223__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TouchpointGroupHoldingsIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" title="Fair value of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-02-012022-02-23_custom_TouchpointGroupHoldingsIncMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">20,000,000</ix:nonFraction></span> shares of common stock of Touchpoint in total FV of $<span id="xdx_902_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--TouchpointGroupHoldingsIncMember_pp0p0" title="Fair value of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-01-012022-06-30_custom_TouchpointGroupHoldingsIncMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">44,000</ix:nonFraction></span> as of June 30, 2022 based on level 1 stock price
in OTC markets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">GTX
Agreement</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
April 12, 2022, GBT Tokenize Corp (&#8220;GBT Tokenize&#8221;), a Nevada corporation which the Company owns 50% of the outstanding shares
of common stock, entered into a series of agreements with GTX Corp (&#8220;GTX&#8221;) and various note holders of GTX pursuant to which
Tokenize acquire convertible promissory notes of GTX in the principal amount of $<span id="xdx_90D_eus-gaap--DebtInstrumentPeriodicPaymentPrincipal_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--GTXAgreementMember_pp0p0" title="Principal amount"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPaymentPrincipal" contextRef="From2022-01-012022-06-30_custom_GTXAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">100,000</ix:nonFraction></span> (the &#8220;GTX Notes&#8221;). In addition,
GBT Tokenize acquired <span id="xdx_901_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--GTXAgreementMember_pdd" title="Number of shares acquired"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesAcquisitions" contextRef="From2022-01-012022-06-30_custom_GTXAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,000,000</ix:nonFraction></span> shares of common stock of GTX for $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueAcquisitions_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--GTXAgreementMember_pp0p0" title="Number of shares acquired, value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueAcquisitions" contextRef="From2022-01-012022-06-30_custom_GTXAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">150,000</ix:nonFraction></span> - in total FV of $<span id="xdx_903_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--GTXAgreementMember_pp0p0" title="Fair value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-01-012022-06-30_custom_GTXAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">41,000</ix:nonFraction></span> as of June 30, 2022 based
on level 1 stock price in OTC markets.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
GTX Notes bear 10% interest and 50% of the principal may be converted into shares of common stock on a one-time basis at a conversion
price of $<span id="xdx_90A_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20220630_pdd" title="Conversion price"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.01</ix:nonFraction></span> per share. The remaining 50% of the principal must be paid in cash. The closing occurred on April 12, 2022. As of June,
30, 2022, the note had an outstanding balance of $<span id="xdx_90C_eus-gaap--ConvertibleDebt_c20220630__us-gaap--TypeOfArrangementAxis__custom--GTXAgreementMember_pp0p0" title="Convertible debt"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2022-06-30_custom_GTXAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">100,000</ix:nonFraction></span> and accrued interest of $<span id="xdx_90E_eus-gaap--InterestPayableCurrent_c20220630__us-gaap--TypeOfArrangementAxis__custom--GTXAgreementMember_pp0p0" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2022-06-30_custom_GTXAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,164</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June, 30, 2022 and December 31, 2021, the marketable security had a FV of $<span id="xdx_900_eus-gaap--MarketableSecurities_c20220630_pp0p0" title="Marketable securities"><ix:nonFraction name="us-gaap:MarketableSecurities" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">87,164</ix:nonFraction></span> and $<span id="xdx_90D_eus-gaap--MarketableSecurities_iI_pp0p0_c20211231_z48FZ5NPIktk" title="Marketable securities"><ix:nonFraction name="us-gaap:MarketableSecurities" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span>, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<ix:exclude><p id="xdx_232_zvwS7sPmaQT4" style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 17; Value: 1 -->
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    <div id="xdx_237_z7dozfuFkUJj" style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<ix:exclude><p id="xdx_238_zanEni8CEAyh" style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center"></p></ix:exclude>

<ix:exclude><p id="xdx_23A_zfy8mt7pvarj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:exclude><p id="xdx_235_zqRf4myBPfC3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_232_zfS0kvJLNHyc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_230_zV8MLxE7dtR4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:InvestmentTextBlock"><p id="xdx_80B_eus-gaap--InvestmentTextBlock_z8zykRu73Sgj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
5 &#8211; <span id="xdx_826_zL0P4LNYliy9">Investment in Surge Holdings, Inc</span> (Relate to Year 2021).</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Surge
Holdings, Inc.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">On September 30, 2019, GBT
Technologies Inc. (the &#8220;Company&#8221;) entered into an Asset Purchase Agreement (&#8220;APA&#8221;) with Surge Holdings, Inc.,
a Nevada corporation (&#8220;SURG&#8221;) pursuant to which the Company agreed to sell and assign to SURG, all the assets and certain
specified liabilities, of its ECS Prepaid, Electronic Check Services and the Central State Legal Services businesses for $5,000,000&#160;to
be paid through the issuance of&#160;3,333,333&#160;shares of SURG&#8217;s common stock (the &#8220;SURG Common Stock&#8221;) and a convertible
promissory note in favor of the Company of $4,000,000&#160;(the &#8220;SURG Note&#8221;), convertible into SURG&#8217;s shares of common
stock. On January 7, 2022, the Company received payments from Surge pays Inc. (formerly known as Surge Holdings, Inc.) of $3,750,000&#160;pursuant
to the terms of the Settlement Agreement dated December 22, 2021.</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 20pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 23, 2020, SURG entered into an Exchange Agreement (the &#8220;AltCorp Exchange Agreement&#8221;) with AltCorp Trading LLC (&#8220;AltCorp&#8221;)
with such AltCorp Exchange Agreement being consented and agreed to by the Company, the parent of AltCorp. At the expiration of the lock-up
period, in the event the VWAP for the SURG Common Stock was, during the preceding 20-day trading period, less than $0.50&#160;per
share, AltCorp retained the right to reserve additional shares of SURG Common Stock equal to the True-Up Value as defined in the AltCorp
Exchange Agreement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 8, 2020, SURG filed a lawsuit against its transfer agent from transferring millions of SURG stock that is currently in possession
by the Company and assigned to Stanley Hills, LLC. On January 1, 2021, SURG, AltCorp and Stanley Hills, LLC (&#8220;Stanley&#8221;) entered
into a Mutual Release and Settlement Agreement (&#8220;Settlement Agreement&#8221;). Pursuant to the terms of the Settlement Agreement,
SURG agreed to amend the AltCorp Exchange Agreement where SURG acknowledged a debt of $3,300,000&#160;(the &#8220;Debt&#8221;) to be
paid in 33 monthly payments of $100,000&#160;payable in shares of common stock of SURG at a per share price equal the VWAP of Surg&#8217;s common stock during the 10 trading days immediately preceding the issuance. SURG paid $<span id="xdx_908_eus-gaap--Cash_iI_pp0p0_c20210102__dei--LegalEntityAxis__custom--SurgeHoldingsIncMember_zbcUmEpUj8N7" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-01-02_custom_SurgeHoldingsIncMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">400,000</ix:nonFraction></span>&#160;in
cash and $<span id="xdx_90F_eus-gaap--Cash_iI_pp0p0_c20210102__dei--LegalEntityAxis__custom--SurgeHoldingsIncMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_z2hOlCXw9ZB9" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-01-02_custom_SurgeHoldingsIncMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">800,000</ix:nonFraction></span>&#160;by shares. The SURG common stock issued to Altcorp have been pledged since August 12, 2020 for the benefit of
Stanley to secure Stanley&#8217;s note payable by the Company. Accordingly, the SURG Common Stock issued to AltCorp as a result of the
Settlement Agreement were pledged to Stanley. As of December 31, 2021 there were no surge shares pledges after the final settlement signed
on December 22, 2021 and that replaced all prior settlement agreement. The final settlement SURG agreed to make total payments of $<span id="xdx_901_eus-gaap--RepaymentsOfDebt_c20220101__20220107__dei--LegalEntityAxis__custom--SurgeHoldingsIncMember_pp0p0" title="Repayment of debt"><ix:nonFraction name="us-gaap:RepaymentsOfDebt" contextRef="From2022-01-012022-01-07_custom_SurgeHoldingsIncMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,200,000</ix:nonFraction></span>&#160;to
the Company&#8217;s trust account on or prior to January 7, 2022.&#160;<span id="xdx_90D_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20220101__20220630__dei--LegalEntityAxis__custom--SurgeHoldingsIncMember" title="Related party, description"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_SurgeHoldingsIncMember" name="us-gaap:RelatedPartyTransactionDescriptionOfTransaction">This $4.2 million amount consists of $450,000 paid by SURG in
November and December 2021, $100,000 to be paid on or about January 4, 2022, and $3,650,000 to be paid on or prior to January 7, 2022
of which $375,000 will be held in escrow as described before. The $3,750,000 was recorded as other receivable as of December 31, 2021.
As of December 31, 2021, the Company has recorded an outstanding payable balance to Stanley amounted $1,862,928 recorded under accrued
expenses.</ix:nonNumeric></span></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Subsequently,
SURG was a party to two lawsuits in state District Court, the Eighth Judicial District Court for Clark County, Nevada involving AltCorp,
Stanley and Glen Eagles Acquisition LP (the &#8220;AltCorp Parties.&#8221;). Each of these lawsuits were ultimately disputes relating
to the total consideration SURG was to pay the Company under the APA.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
October 18, 2021, the AltCorp Parties, the Company, and SURG entered into a Memorandum of Understanding (the &#8220;MOU&#8221;) to set
up a framework for an attempt to settle the two lawsuits.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
December 22, 2021 (the &#8220;Effective Date&#8221;), pursuant to the framework in the MOU, the AltCorp Parties (and an additional third
party), the Company, ECS, and SURG, Kevin Brian Cox (SURG&#8217;s Chief Executive Officer) - in his individual capacity, entered into
a Resolution of Purchase, Mutual Release, and Settlement Agreement (the &#8220;Final Settlement Agreement&#8221;) to settle the two lawsuits
and resolve all disputes related to the consideration paid by SURG to the Company in connection with the APA.</span></p>

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Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_231_zC5DpLSDWGcj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><p id="xdx_239_zH26ACJvRxm8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Final Settlement Agreement, among other resolutions, essentially provides the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(i)
From the total consideration of the Final Settlement Agreement, $<span id="xdx_90C_eus-gaap--EscrowDeposit_iI_pp0p0_c20220630_zh9sbzMrHidj" title="Escrow amount"><ix:nonFraction name="us-gaap:EscrowDeposit" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">375,000</ix:nonFraction></span>&#160;(&#8220;Escrow Amount&#8221;) will be deposited
by SURG in escrow. SURG has acquired the Company&#8217;s rights to a certain Master Distribution and Service Agreement (&#8220;MDA&#8221;).
Under certain circumstances, if the result of the Company&#8217;s lawsuit against a third party (the &#8220;GBT Lawsuit&#8221;) is a
monetary judgment without the assignment or legal decree of ownership of the MDA, the Company shall be entitled to receive the Escrow
Amount and shall assign to SURG the first $<span id="xdx_903_ecustom--EscrowAmountReceived_c20220101__20220630_pp0p0" title="Escrow amount received"><ix:nonFraction name="gtch:EscrowAmountReceived" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,000,000</ix:nonFraction></span>&#160;the Company recovers from the defendants in the GBT Lawsuit. In the event that
the Company does not prevail in the GBT Lawsuit then it shall be entitled to release of the Escrow Amount but shall be responsible for
any fees and costs obligation sought by the defendants in the GBT Lawsuit.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(ii)
Potential payments to third parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Final Settlement Agreement replaces all prior agreements between the parties. In addition, within three trading days of the last payment
related to the $<span id="xdx_90F_eus-gaap--ProceedsFromRepaymentsOfRelatedPartyDebt_pn3n3_dm_c20211203__20220112_z7Jy65KgV6Dh" title="Related party payment"><ix:nonFraction name="us-gaap:ProceedsFromRepaymentsOfRelatedPartyDebt" contextRef="From2021-12-032022-01-12" format="ixt:numdotdecimal" decimals="-3" scale="6" unitRef="USD">4.2</ix:nonFraction></span>&#160;million payment to Stanley being made, the parties shall make filings with the state District Court in Clark
County, Nevada to dismiss both lawsuits, including, regarding the lawsuit filed by AltCorp Trading, LLC, the dismissal of the lawsuit
as to VStock Transfer, LLC. The parties agreed to a full mutual release of any disputes or claims between the parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
final settlement of $<span id="xdx_905_ecustom--SettlementAmount_iI_pp0p0_c20220131_zGbBwmZNDo5l" title="Settlement amount"><ix:nonFraction name="gtch:SettlementAmount" contextRef="AsOf2022-01-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,750,000</ix:nonFraction></span>&#160;was received by the Company in January 2022 and paid out $<span id="xdx_902_eus-gaap--ProceedsFromShortTermDebt_pp0p0_c20220101__20220630_zaqX2Jz9rOH7" title="Payments for debt"><ix:nonFraction name="us-gaap:ProceedsFromShortTermDebt" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,750,000</ix:nonFraction></span>&#160;to the third parties during
the periods ended June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:EquityMethodInvestmentsDisclosureTextBlock"><p id="xdx_803_eus-gaap--EquityMethodInvestmentsDisclosureTextBlock_zxyreshRqCSj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
6 &#8211; <span id="xdx_82F_z6NB8OroBG">Impaired Investments</span></b></span></p>

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<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0; background-color: white"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">1.</span></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Investment
                                            in GBT Technologies, S.A.</span></span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 17, 2019, the Company, AltCorp Trading LLC, a Costa Rica company and a wholly-owned subsidiary of the Company (&#8220;AltCorp&#8221;),
GBT Technologies, S.A., a Costa Rica company (&#8220;GBT-CR&#8221;) and Pablo Gonzalez, a shareholder&#8217;s representative of GBT-CR
(&#8220;Gonzalez&#8221;), entered into and closed an Exchange Agreement (the &#8220;GBT Exchange Agreement&#8221;) pursuant to which
the parties exchanged certain securities. In accordance with the Exchange Agreement, AltCorp acquired&#160;<span id="xdx_90F_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdd" title="Stock Issued for Acquisitions, Shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesAcquisitions" contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">625,000</ix:nonFraction></span>&#160;shares of GBT-CR
representing 25% of its issued and outstanding shares of common stock from Gonzalez for the issuance of&#160;<span id="xdx_900_eus-gaap--ConversionOfStockSharesConverted1_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdd" title="Number of shares converted"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,000</ix:nonFraction></span>&#160;shares of Series
H Convertible Preferred Stock of the Company and a Convertible Note of $<span id="xdx_900_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pp0p0" title="Debt conversion, converted instrument, Value"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentAmount1" contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,000,000</ix:nonFraction></span>&#160;issued by the Company
(the &#8220;Gopher Convertible Note&#8221;) as well as the transfer and assignment of a Promissory&#160;<span id="xdx_908_ecustom--NotePayableDescription_c20190201__20190206__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember" title="Note payable, description"><ix:nonNumeric contextRef="From2019-02-012019-02-06_custom_AltcorpMember" name="gtch:NotePayableDescription">Note payable by Gopher Protocol
Costa Rica Sociedad De Responsabilidad Limitada to the Company in the principal amount of $5,000,000 dated February 6, 2019 (of which
the underlying security for this Promissory Note is 30,000,000 restricted shares of common stock of Mobiquity Technologies, Inc. (&#8220;Mobiquity&#8221;)
and 60,000,000 restricted shares of common stock of Mobiquity.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Gopher Convertible Note bears interest of&#160;<span id="xdx_90D_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zLUMU21wElf8" title="Interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateEffectivePercentage" contextRef="AsOf2019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">6</ix:nonFraction></span>% and was payable at maturity on&#160;<span id="xdx_901_eus-gaap--DebtInstrumentMaturityDate_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember" title="Maturity date"><ix:nonNumeric contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:datemonthdayyearen" name="us-gaap:DebtInstrumentMaturityDate">December 31, 2021</ix:nonNumeric></span>. At the election of Gonzalez,
the Gopher Convertible Note converted into a maximum of 20,000 shares of Series H Preferred Stock. Each share of Series H Preferred Stock
is convertible, at the option of the holder but subject to the Company increasing its authorized shares of common stock, into such number
of shares of common stock of the Company as determined by dividing the Stated Value ($<span id="xdx_906_eus-gaap--DividendsPayableAmountPerShare_c20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdd" title="Dividend per share"><ix:nonFraction name="us-gaap:DividendsPayableAmountPerShare" contextRef="AsOf2019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">500</ix:nonFraction></span>&#160;per share) by the conversion price ($<span id="xdx_904_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdd" title="Conversion price (in dollars per share)"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">500</ix:nonFraction></span>&#160;per
share). The Series H Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series H Preferred Stock
shall be entitled to one vote for each share of common stock that the Series H Preferred Stock may be convertible into.&#160;Upon conversion
of the Gopher Convertible Note and the 20,000 shares of Series H Preferred Stock, Gonzalez would be entitled to less than 50% of the
resulting outstanding shares of common stock of the Company following conversion in full and, as a result, such transaction is not considered
a change of control.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_23B_zf2pdpBi0LZb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_239_zW7boXdrhtql" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_236_z8r5oyIXtGOd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23A_z0v8C09b8Vtc" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><p id="xdx_232_zsy6EY1OJip3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_235_z2W1u4NH7ZY9" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_239_zPfsiZQWRQ6a" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 19, 2021, the Company, entered into a Mutual Release and Settlement Agreement and Irrevocable Assignment of Note Balance Principal
and Accrued Interest (the &#8220;Gonzalez Agreement&#8221;) with third party, GBT-CR, IGOR 1 Corp and Gonzalez. Pursuant to the Gonzalez
Agreement, without any party admission of liability and to avoid litigation, the parties has agreed to (i) extend the GBT Convertible
Note maturity date to December 31,2022, (ii) amend the GBT Convertible Note terms to include a beneficial ownership blocker of 4.99%
and a modified conversion feature to the GBT Convertible Note with 15% discount to the market price during the 20 trading day period
ending on the latest complete trading day prior to the conversion date and (iii) provided for an assignment of the GBT Convertible Note
by Gonzalez to a third party.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">GBT-CR
is in the business of the strategic management of BPO (Business Process Outsourcing) digital communications processing for enterprises
and startups, distributed ledger technology development, AI development and fintech software development and applications.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company accounted for its investment in GBT-CR using the equity method of accounting; however, in 2020, the Company owned less than 20%
after GBT-CR issued additional shares to other investors therefore exercised no control over GBT-CR; therefore, this investment is currently
accounted for under the cost method. Moreover, on March 19, 2020, California Governor Gavin Newsom issued a stay-at-home order to protect
the health and well-being of all Californians and to establish consistency across the state in order to slow the spread of COVID-19.
California was therefore under strict quarantine control and travel has been severely restricted, resulting in disruptions to work, communications,
and access to files (due to limited access to facilities). The stay-at-home order was lifted in California only on January 25, 2021.
As such, the Company was unable to access or to contact GBT-CR on an on-going basis, and cannot get information about GBT-CR.&#160;&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top">
<td style="width: 0.25in"></td><td style="width: 0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">2.</span></span></td><td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span style="text-decoration: underline">Investment
                                            in Joint Venture &#8211; GBT Tokenize Corp</span></span></td></tr></table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify; text-indent: -0.25in"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
March 6, 2020, the Company through Greenwich, entered into a Joint Venture and Territorial License Agreement (the &#8220;Tokenize Agreement&#8221;)
with Tokenize-It, S.A. (&#8220;Tokenize&#8221;), which is owned by a Costa Rica Trust represented by Pablo Gonzalez (&#8220;Gonzalez&#8221;).
Gonzalez also represents Gonzalez Costa Rica Trust, which holds a note of $10,000,000 and is also a shareholder
of the Company. Under the Tokenize Agreement, the parties formed GBT Tokenize Corp., a Nevada corporation (&#8220;GBT Tokenize&#8221;).
The purpose of GBT Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile
chip technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking,
IT services, business process outsourcing development services, customer service, technical support and quality assurance for business,
customizable and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups
(&#8220;Technology Portfolio&#8221;), throughout the State of California. Upon generating any revenue from the Technology Portfolio,
the Joint Venture will earn the first right of refusal for other territories.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company pledged its 50% ownership in GBT Tokenize and its 100% ownership of Greenwich to Tokenize to secure its Technology Portfolio
investment. The Company shall appoint two directors and Tokenize shall appoint one director of GBT Tokenize.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Tokenize
shall contribute the services and resources for the development of the Technology Portfolio to GBT Tokenize. The Company shall contribute
2,000,000 shares of common stock of the Company (&#8220;GBT Shares&#8221;) to GBT Tokenize. Tokenize and the Company will each own 50%
of GBT Tokenize. The shares were valued at FV of $5,500,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
addition, GBT Tokenize and Gonzalez entered into a Consulting Agreement in which Gonzalez is engaged to provide services for $33,333
per month payable quarterly which may be paid in shares of common stock calculated by the amount owed divided by the Company&#8217;s
10-day VWAP. Gonzalez will provide services in connection with the development of the business as well as GBT Tokenize&#8217;s capital
raising efforts. The term of the Consulting Agreement is two years. During year ended December 31, 2021, Gonzalez assigned all his accrued
balances of $424,731 to Stanley Hills in a private transaction that the Company is not part to. The closing of the Tokenize Agreement
occurred on March 9, 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<ix:exclude><p id="xdx_23D_zegS7YQkggSd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><ix:exclude><p id="xdx_234_zWldi3jTg7o3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23E_zTuq6FXpoUt7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><p id="xdx_236_zWwBoVy8BWLk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_238_zwmsVOk1OYJa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>


<ix:exclude><p id="xdx_23B_zQoc8FoHeWM" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Through
this Joint Venture the parties commenced development of an intelligent human vital signs&#8217; device, which we currently refer to as
the qTerm. The platform is an expansion of the existing license agreement with GBT Tokenize Corp., which provided GBT Tokenize Corp.
with an exclusive territory of California to develop certain of the Company&#8217;s technology. As the nature of the platform cannot
be restricted only to California, the Company&#8217;s joint venture GBT Tokenize Corp. will be compensated with additional 200,000,000 shares of the Company to strengthen its funding, subject to board approval. A provisional patent application for the qTerm Medical
Device was filed on March 30, 2020 with the USPTO.&#160;The application assigned serial number 63001564. The Joint Venture completed
successfully the first prototype. There is no guarantee the Company will be successful in researching, developing or implementing this
product into the market. In order to successfully implement this concept, the Company will need to raise adequate capital to support
its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic
relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that
the Company will be successful in any or all of these critical steps.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 28, 2021, the parties agreed to amend the Tokenize Agreement to expand territory granted for the Technology Portfolio under the license
to GBT Tokenize to include the entire continental United States. The Company has further agreed to issue GBT Tokenize an additional 14,000,000
shares of common stock of the Company. The shares were valued at $15,400,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">At
March 31, 2020, the Company evaluated the carrying amount of this joint venture investment and determined that it was fully impaired
and as a result an impairment charge of $5,500,000 was taken. At December 31, 2021, the Company evaluated the carrying amount of this
joint venture investment and determined that this investment was fully impaired and as a result an impairment charge of $15,400,000 was
taken.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Although
the investment was impaired, the product development is still ongoing. The carrying amount of this investment at June 30, 2022 and December
31, 2021 (audited), was $<span id="xdx_90F_eus-gaap--Investments_c20220630_pp0p0" title="Investment"><ix:nonFraction name="us-gaap:Investments" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span> and $<span id="xdx_90A_eus-gaap--Investments_c20211231_pp0p0" title="Investment"><ix:nonFraction name="us-gaap:Investments" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span>, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:InventoryDisclosureTextBlock"><p id="xdx_80A_eus-gaap--InventoryDisclosureTextBlock_zZMzY0RWKZI5" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
7 &#8211; <span id="xdx_828_z56tB2ti9QNd">Inventory</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Inventory
consists of electronic product ready for sale on Amazon. It is stated at the lower of cost or net realizable value and all inventories
were returned product from online customers. We value our inventory using the weighted average costing method. Our Company&#8217;s policy
is to include as a part of inventory any freight incurred to ship the product from our contract vendors to our warehouses. Outbound freights
costs related to shipping costs to our customers are considered period costs and reflected in selling, general and administrative expenses.
We regularly review inventory and consider forecasts of future demand, market conditions and product obsolescence.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">If
the estimated realizable value of our inventory is less than cost, we make provisions in order to reduce it carrying value to its estimated
market value. <span id="xdx_90A_eus-gaap--InventoryWriteDown_pp0p0_do_c20220101__20220630_z1jc8EVH7Irj" title="Inventory Write-down"><span id="xdx_90C_eus-gaap--InventoryWriteDown_pp0p0_do_c20210101__20211231_zpnnyrQhyy8" title="Inventory Write-down"><ix:nonFraction name="us-gaap:InventoryWriteDown" contextRef="From2022-01-01to2022-06-30" format="ixt-sec:numwordsen" decimals="0" scale="0" unitRef="USD"><ix:nonFraction name="us-gaap:InventoryWriteDown" contextRef="From2021-01-012021-12-31" format="ixt-sec:numwordsen" decimals="0" scale="0" unitRef="USD">No</ix:nonFraction></ix:nonFraction></span></span> write down to net realizable value was necessary for the period ended June 30, 2022 and December 31, 2021. The Company
has $<span id="xdx_903_eus-gaap--InventoryFinishedGoods_c20220630_pp0p0" title="Inventory finished goods"><ix:nonFraction name="us-gaap:InventoryFinishedGoods" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">17,053</ix:nonFraction></span> finished goods and $<span id="xdx_904_eus-gaap--OtherInventoryInTransit_c20220630_pp0p0" title="Inventory in transit"><ix:nonFraction name="us-gaap:OtherInventoryInTransit" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">43,872</ix:nonFraction></span> inventory in transit as of June 30, 2022 and $<span id="xdx_907_eus-gaap--InventoryGross_c20211231_pp0p0" title="Inventory"><ix:nonFraction name="us-gaap:InventoryGross" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span> inventory as of December 31, 2021 (audited).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock"><p id="xdx_801_eus-gaap--AccountsPayableAccruedLiabilitiesAndOtherLiabilitiesDisclosureCurrentTextBlock_zgwgDVog5i82" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
8 &#8211; <span id="xdx_826_zi7DSgxNAL0l">Accounts Payable and Accrued Expenses</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Accounts
payable and accrued expenses at June 30, 2022 and December 31, 2021 (audited) consist of the following (including related parties of
$<span id="xdx_909_eus-gaap--AccountsPayableRelatedPartiesCurrent_iI_pp0p0_c20220630_zZ5DRoGfxrig" title="Accounts Payable, Related Parties, Current"><ix:nonFraction name="us-gaap:AccountsPayableRelatedPartiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">856,904</ix:nonFraction></span> and $<span id="xdx_906_eus-gaap--AccountsPayableRelatedPartiesCurrent_c20211231_pp0p0" title="Accounts Payable, Related Parties, Current"><ix:nonFraction name="us-gaap:AccountsPayableRelatedPartiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,309,255</ix:nonFraction></span>):</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-indent: 40pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_886_eus-gaap--ScheduleOfAccountsPayableAndAccruedLiabilitiesTableTextBlock_zxIRxxN4Qd31" summary="xdx: Disclosure - Accounts Payable and Accrued Expenses (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8BB_zYrfN9mhXoTi" style="display: none">Schedule Of Accounts Payable and Accrued Expenses</span></td><td>&#160;</td>
    <td colspan="3" id="xdx_49E_20220630_zTS5rrpbGTL8" style="text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="3" id="xdx_499_20211231_zYdPNullrlxl" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2022</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">2021</td></tr>
  <tr id="xdx_406_eus-gaap--AccountsPayableCurrent_iI_pp0p0_maAPAALzS4d_z64RCGrsFBg4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Accounts payable</td><td style="width: 8%">&#160;</td>
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  <tr id="xdx_40F_ecustom--AccountsPayableRelatedPartyCurrent_iI_pp0p0_maAPAALzS4d_zUHuuwMmBh7l" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_401_eus-gaap--AccruedLiabilitiesCurrent_iI_pp0p0_maAPAALzS4d_z6S36lmSDLo4" style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr id="xdx_404_ecustom--AccruedLiabilitiesStanley_iI_pp0p0_maAPAALzS4d_zrOsX3Bx0Kn7" style="vertical-align: bottom; background-color: White">
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  <tr id="xdx_40B_eus-gaap--InterestPayableCurrent_iI_pp0p0_maAPAALzS4d_z2MvpFiFWrz9" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accrued interest</td><td>&#160;</td>
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  <tr id="xdx_40E_ecustom--AccruedInterestRelatedPartyCurrent_iI_pp0p0_maAPAALzS4d_zh0Inw3O0f22" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Accrued&#160;&#160; interest &#8211; related party</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right"><ix:nonFraction name="gtch:AccruedInterestRelatedPartyCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">39,730</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr id="xdx_40E_eus-gaap--AccountsPayableAndAccruedLiabilitiesCurrent_iTI_pp0p0_mtAPAALzS4d_zCBxm2LZAxd3" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total Accounts payable and accrued expenses</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,448,950</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="us-gaap:AccountsPayableAndAccruedLiabilitiesCurrent" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">6,896,263</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table></ix:nonNumeric>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;</b></span></p>

<ix:exclude><p id="xdx_237_zieETg79lkm1" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 21; Value: 1 -->
    <div id="xdx_23F_z3zCnAaMphOi" style="border-bottom: Black 2pt solid; margin-top: 6pt; margin-bottom: 6pt"><p id="xdx_236_zdld5rTtLgpc" style="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><!-- Field: Sequence; Type: Arabic; Name: PageNo -->20<!-- Field: /Sequence --></p></div>
    <div id="xdx_238_z743xpPDBti8" style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_235_zzsAzskGkRAa" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_zqTMUXiuvskg" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_233_znDdPbKNjEme" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23E_z8m36KrLvoif" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_236_z6rITvro6wzf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:UnearnedRevenueTextBlock"><p id="xdx_807_ecustom--UnearnedRevenueTextBlock_zwFYBP1atGNk" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
9 &#8211;&#160;<span id="xdx_823_zjJYruxVWrvd">Unearned Revenue</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unearned
revenue is the net amount received for the purchase of products that have not seen shipped to the Company&#8217;s customers. On
January 28, 2022, the court awarded the Company an injunction against RWJ Defendants, where all funds generating from resale should
be deposited into a GBT blocked account and, therefore, RWJ Defendants cannot use these funds without a court order. $<span id="xdx_903_eus-gaap--DeferredRevenue_iI_pp0p0_c20220128_zuzaONZZ6P12" title="Unearned revenue"><ix:nonFraction name="us-gaap:DeferredRevenue" contextRef="AsOf2022-01-28" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">15,326</ix:nonFraction></span>&#160;
been credited as unearned revenue until the court&#8217;s final decision.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:AccruedSettlementTextBlock"><p id="xdx_80B_ecustom--AccruedSettlementTextBlock_zJVfMpi7uLCk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
10 &#8211; <span id="xdx_824_zhibcbXQBuVi">Accrued Settlement</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with a legal matter filed by the Investor of the $<span id="xdx_90F_eus-gaap--LossContingencyDamagesPaidValue_c20191201__20191223__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_pp0p0" title="Legal matter"><ix:nonFraction name="us-gaap:LossContingencyDamagesPaidValue" contextRef="From2019-12-012019-12-23_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,340,000</ix:nonFraction></span>&#160;Senior Secured Redeemable Convertible Debenture, on December
23, 2019, in the pending arbitration between the Company and the Investor, an Interim Award was entered in favor of the Investor. On
January 31, 2020, the Company was informed that a final award was entered (the &#8220;Final Award&#8221;). The Final Award affirms that
certain sections of the Senior Secured Redeemable Convertible Debenture (the &#8220;Debenture&#8221;)&#160;constitute unenforceable liquidated
damages penalties and were stricken. Further, it was determined that the Investor was entitled to recovery of attorney&#8217;s fees.
Consequently, the arbitrator awarded Investor $<span id="xdx_903_ecustom--ArbitratorAwarded_c20190501__20190515__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_pp0p0" title="Arbitrator awarded"><ix:nonFraction name="gtch:ArbitratorAwarded" contextRef="From2019-05-012019-05-15_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,034,444</ix:nonFraction></span>&#160;plus interest of&#160;<span id="xdx_90E_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20190501__20190515__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zQChQqlJZEwk" title="Interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="From2019-05-012019-05-15_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7.25</ix:nonFraction></span>% accrued from May 15, 2019 (presented separately
in accounts payable and accrued expenses) and costs $<span id="xdx_905_eus-gaap--InterestExpenseOtherDomesticDeposits_c20190501__20190515__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_pp0p0" title="Interest"><ix:nonFraction name="us-gaap:InterestExpenseOtherDomesticDeposits" contextRef="From2019-05-012019-05-15_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">55,613</ix:nonFraction></span>. In connection with this settlement, the Company recognized a gain on the
settlement of debt of $<span id="xdx_904_eus-gaap--GainsLossesOnRestructuringOfDebt_c20190101__20191231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_pp0p0" title="Gain on settlement of debt"><ix:nonFraction name="us-gaap:GainsLossesOnRestructuringOfDebt" contextRef="From2019-01-012019-12-31_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,375,556</ix:nonFraction></span>&#160;in 2019 as the difference between the carrying amount of the debt and the amount awarded by the
arbitrator. As of June 30, 2022, the award had not been paid yet. The Company recorded accrued settlement of $<span id="xdx_907_ecustom--AccruedSettlement_c20220630_pp0p0" title="Accrued settlement"><ix:nonFraction name="gtch:AccruedSettlement" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,090,057</ix:nonFraction></span> and $<span id="xdx_904_ecustom--AccruedSettlement_c20211231_pp0p0" title="Accrued settlement"><ix:nonFraction name="gtch:AccruedSettlement" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,090,057</ix:nonFraction></span>
at June 30, 2022 and December 31, 2021 (audited), respectively, not including interest accrued.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:LongTermDebtTextBlock"><p id="xdx_805_eus-gaap--LongTermDebtTextBlock_zmpnvzlsl2Th" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
11 &#8211; <span id="xdx_82F_zu4PDW4Ge2yc">Convertible Notes Payable, Non-related Partied and Related Party</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible
notes payable &#8211; non related parties at June 30, 2022 and December 31, 2021 (audited) consist of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:RollfowardOfConvertibleNoteTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_899_ecustom--RollfowardOfConvertibleNoteTableTextBlock_zFO9CkfyWDvi" summary="xdx: Disclosure - Convertible Notes Payable, Non-related Partied and Related Party (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8BE_zXzMRIIs3pD7" style="display: none">Schedule Of Rollfoward of convertible note</span></td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">June 30,<br /> 2022</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">December 31,<br /> 2021</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Convertible note payable to IGOR 1 CORP</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td id="xdx_981_eus-gaap--ConvertibleDebt_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IGOR1CORPMember_pp0p0" title="Total convertible notes payable" style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2022-06-30_custom_IGOR1CORPMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">6,728,731</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td id="xdx_984_eus-gaap--ConvertibleDebt_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IGOR1CORPMember_pp0p0" title="Total convertible notes payable" style="width: 12%; text-align: right"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2021-12-31_custom_IGOR1CORPMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,055,400</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Convertible notes payable to Sixth Street</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98E_eus-gaap--ConvertibleDebt_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SixthStreetMember_pp0p0" title="Total convertible notes payable" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1277">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_989_eus-gaap--ConvertibleDebt_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SixthStreetMember_pp0p0" title="Total convertible notes payable" style="text-align: right"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2021-12-31_custom_SixthStreetMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">124,200</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Convertible notes payable to Redstart Holdings</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_986_eus-gaap--ConvertibleDebt_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RedstartHoldingsMember_pp0p0" title="Total convertible notes payable" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1281">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_985_eus-gaap--ConvertibleDebt_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RedstartHoldingsMember_pp0p0" title="Total convertible notes payable" style="text-align: right"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2021-12-31_custom_RedstartHoldingsMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">244,500</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Convertible notes payable to 1800 Diagonal Lending</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98C_eus-gaap--ConvertibleDebt_iI_pp0p0_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--DiagonalLendingMember_z0t8cMQVZQQ3" title="Total convertible notes payable" style="text-align: right"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2022-06-30_custom_DiagonalLendingMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">244,500</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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</ix:nonNumeric><p id="xdx_8AE_zgH6sjsteIP2" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>$10,000,000
for Igor 1 Corp (Prior year - GBT Technologies S. A.)</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with the acquisition of GBT-CR the Company issued a convertible note of $<span id="xdx_90C_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GBTTechnologiesMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pp0p0" title="Value of share converted"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentAmount1" contextRef="From2019-06-012019-06-17_custom_GBTTechnologiesMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,000,000</ix:nonFraction></span>. The convertible Note bears interest of
6% was payable at maturity on&#160;<span id="xdx_903_eus-gaap--DebtInstrumentMaturityDate_dd_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GBTTechnologiesMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zzqSVTO3A7m5" title="Note maturity date"><ix:nonNumeric contextRef="From2019-06-012019-06-17_custom_GBTTechnologiesMember_us-gaap_SeriesHPreferredStockMember" format="ixt:datemonthdayyearen" name="us-gaap:DebtInstrumentMaturityDate">December 31, 2021</ix:nonNumeric></span>. At the election of the holder, the convertible note can be converted into a maximum
of&#160;<span id="xdx_90E_eus-gaap--ConversionOfStockSharesConverted1_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GBTTechnologiesMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdd" title="Number of shares converted"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2019-06-012019-06-17_custom_GBTTechnologiesMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,000</ix:nonFraction></span>&#160;shares of Series H Preferred Stock. Each share of Series H Preferred Stock is convertible, at the option of the holder
but subject to the Company increasing its authorized shares of common stock, into such number of shares of common stock of the Company
as determined by dividing the Stated Value ($<span id="xdx_902_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--GBTTechnologiesMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_pdd" title="Conversion price (in dollars per share)"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2019-06-17_custom_GBTTechnologiesMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">500</ix:nonFraction></span> per share) by the conversion price ($500.00&#160;share). This convertible note may
convert into shares of the Company&#8217;s common stock at a conversion price equal to <span id="xdx_909_eus-gaap--DebtConversionConvertedInstrumentRate_dp_c20220101__20220630_zaujEvwg4mrd" title="Conversion of debt rate"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentRate" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">85</ix:nonFraction></span>% of the lowest trading price with a 20-day
look back immediately preceding the date of conversion and therefore recorded as derivative liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<ix:exclude><p id="xdx_233_z6Nily2TZPae" style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23F_zJDsGxXFzVH4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_238_z0l0d3YVC3rj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><p id="xdx_231_zG3nSI2umkdl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23F_zTMEVsiTo4e6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_230_z2197UJQ6xjb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 19, 2021, the Company, Gonzalez, GBT-CR and IGOR 1 Corp entered into a Mutual Release and Settlement Agreement and Irrevocable Assignment
of outstanding balance plus accrued interest (the &#8220;Gonzalez Agreement&#8221;). Pursuant to the Gonzalez Agreement, without any
party admission of liability and to avoid litigation, the parties has agreed to (i) extend the GBT convertible note maturity date to
December 31, 2022, (ii) amend the GBT convertible note terms to include a beneficial ownership blocker of 4.99% and a modified conversion
feature to the GBT convertible note with 15% discount to the market price during the 20 trading day period ending on the latest complete
trading day prior to the conversion date and (iii) provided for an assignment of the GBT convertible note by Gonzalez to a third party.
As a result of the change in terms of this convertible note, the Company took a charge related to the modification of debt of $<span id="xdx_904_ecustom--ChargeRelatedToModificationOfDebt_c20220101__20220630_pp0p0" title="Charge related to modification of debt"><ix:nonFraction name="gtch:ChargeRelatedToModificationOfDebt" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">13,777,480</ix:nonFraction></span>&#160;during
the year ended December 31, 2021. This convertible note is recorded as derivative liability because of the discounted price on conversion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">During
the year ended December 31, 2021,&#160;<span id="xdx_901_ecustom--ConvertibleNotePayableDescription_c20210101__20211231" title="Convertible note payable, description"><ix:nonNumeric contextRef="From2021-01-012021-12-31" name="gtch:ConvertibleNotePayableDescription">IGOR 1 converted $1,284,600 of the convertible note into 4,185,650 shares of the Company&#8217;s
common stock. Also, on June 24, 2021, the Company transferred 5,500,000 SURG shares received as repayment of $660,000 of this convertible
note.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">As
of June 30, 2022, the note had an outstanding balance of $<span id="xdx_909_eus-gaap--ConvertibleDebt_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IGOR1CORPMember_pp0p0" title="Convertible debt"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2022-06-30_custom_IGOR1CORPMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">6,728,731</ix:nonFraction></span> and accrued interest of $<span id="xdx_906_ecustom--AccruedInterest_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--IGOR1CORPMember_pp0p0" title="Accrued interest"><ix:nonFraction name="gtch:AccruedInterest" contextRef="AsOf2022-06-30_custom_IGOR1CORPMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,778,497</ix:nonFraction></span>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Redstart
Holdings Corp</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
September 21, 2021, the Company entered into a Securities Purchase Agreement with Redstart pursuant to which the Company issued to Redstart
a Convertible Promissory Note (the &#8220;Redstart Note No. 7&#8221;) of $244,500 for $203,750. The Redstart Note No. 7 has a maturity
date of&#160;December 22, 2022&#160;and the Company has agreed to pay interest on the unpaid principal balance of the Redstart Note No.
7 at 2.5% from the date on which the Redstart Note No. 7 is issued (the &#8220;Issue Date&#8221;) until the same becomes due and payable,
whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the Redstart Note
No. 7, provided it makes a payment including a prepayment to Redstart as set forth in the Redstart Note No. 7. The transactions described
above closed on September 28, 2021. The outstanding principal amount of the Redstart Note No. 7 may not be converted prior to the period
beginning on the date that is 180 days following the Issue Date. Following the 180<sup>th</sup>&#160;day, Redstart may convert the Redstart
Note No. 7 into shares of&#160;the Company&#8217;s&#160;common stock&#160;at a conversion price equal to 85% of the lowest trading price
with a 20-day look back immediately preceding the date of conversion. Since the conversion price will vary based on the Company&#8217;s
stock price, the beneficial conversion feature associated with this note is accounted for as a derivative liability. In addition, upon
the occurrence and during the continuation of an Event of Default (as defined in the Redstart Note No. 7), the Redstart Note No. 7 shall
become immediately due and payable and the Company shall pay to Redstart, in full satisfaction of its obligations hereunder, additional
amounts as set forth in the Redstart Note No. 7. During the six months ended June 30, 2022, Redstart converted the entire note into&#160;7,656,951
shares of the Company&#8217;s common stock.</span></p>

<ix:exclude><p id="xdx_235_zSDWoJu7eshb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p><ix:exclude><p id="xdx_230_zM9XDotCCZDa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_230_zfiNE36jIxKf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

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to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_239_zWnD5JzNsHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>


<ix:exclude><p id="xdx_23A_zetFgbAgR4mf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Sixth
Street Lending LLC &#8211; named changed - 1800 Diagonal Lending LLC</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">First
Note</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 8, 2021, the Company entered into a Securities Purchase Agreement with Sixth Street Lending LLC (&#8220;Sixth
Street&#8221;) pursuant to which the Company issued to Sixth Street a Convertible Promissory Note (the &#8220;Sixth Street
Note&#8221;) of $<span id="xdx_906_eus-gaap--DebtConversionConvertedInstrumentAmount1_c20211102__20211108__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SixthStreetLendingLLCMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_pp0p0" title="Value of share converted"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentAmount1" contextRef="From2021-11-022021-11-08_custom_SixthStreetLendingLLCMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">124,200</ix:nonFraction></span>
for $<span id="xdx_90E_ecustom--PurchasePrice_c20211102__20211108__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SixthStreetLendingLLCMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_pp0p0" title="Purchase Price"><ix:nonFraction name="gtch:PurchasePrice" contextRef="From2021-11-022021-11-08_custom_SixthStreetLendingLLCMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">103,500</ix:nonFraction></span>.
The Sixth Street Note has a maturity date of&#160;February 8, 2023&#160;and the Company agreed to pay interest on the unpaid
principal balance of the note at <span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateStatedPercentage_iI_dp_c20211108__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SixthStreetLendingLLCMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zdCrOV35wE96" title="Note payable, interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateStatedPercentage" contextRef="AsOf2021-11-08_custom_SixthStreetLendingLLCMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">6</ix:nonFraction></span>%
from the date on which the note is issued (the &#8220;Issue Date&#8221;) until the same becomes due and payable, whether at maturity
or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment
including a prepayment to Sixth Street as set forth in the Sixth Street Note. The outstanding principal amount of the note may not
be converted prior to the period beginning on the date that is 180 days following the Issue Date. Following the
180<sup>th</sup>&#160;day, Sixth Street may convert the note into shares of&#160;the Company&#8217;s&#160;common stock&#160;at a
conversion price equal to 85% of the average of the two lowest trading prices with a 20-day look back immediately preceding the date
of conversion. Since the conversion price will vary based on the Company&#8217;s stock price, the beneficial conversion feature
associated with this note is accounted for as a derivative liability. In addition, upon the occurrence and during the continuation
of an Event of Default (as defined in the Sixth Street Note), the note shall become immediately due and payable and the Company
shall pay to Sixth Street, in full satisfaction of its obligations hereunder, additional amounts as set forth in the Sixth Street
Note. During the three months ended June 30, 2022, Sixth Street converted the entire note into&#160;<span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20220401__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SixthStreetMember_zi2id3MmByCl" title="Conversion of debt"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentSharesIssued1" contextRef="From2022-04-012022-06-30_custom_SixthStreetMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">26,343,190</ix:nonFraction></span>
shares of the Company&#8217;s common stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second
Note</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
May 5, 2022, the Company entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, an accredited investor (&#8220;DL&#8221;),
pursuant to which the Company issued to DL a Convertible Promissory Note (the &#8220;DL Note&#8221;) of $244,500 for $203,500. The DL
Note has a maturity date of August 4, 2023 and the Company has agreed to pay interest on the unpaid principal balance of the DL Note
at 6.0% from the date on which the DL Note is issued (the &#8220;Issue Date&#8221;) until the same becomes due and payable, whether
at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the DL Note at any time from
the Issue Date and continuing through 180 days following the Issue Date, provided it makes a payment including a prepayment premium to
DL as set forth in the DL Note. The transactions described above funded on May 9, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
outstanding principal amount of the DL Note may not be converted prior to the period beginning on the date that is 180 days following
the Issue Date. Following the 180<sup>th</sup> day, DL may convert the DL Note into shares of&#160;<span style="color: #333333">the Company&#8217;s&#160;</span>common
stock&#160;<span style="color: #333333">at a conversion price </span>equal to 85% of the lowest trading price during the 20-day period
immediately preceding the date of conversion. In addition, upon the occurrence and during the continuation of an Event of Default (as
defined in the DL Note), the DL Note shall become immediately due and payable and the Company shall pay to DL, in full satisfaction of
its obligations hereunder, additional amounts as set forth in the DL Note. In no event shall DL be allowed to effect a conversion if
such conversion, along with all other shares of Company common stock beneficially owned by DL and its affiliates would exceed 4.99% of
the outstanding shares of the common stock of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Unless
the Company shall have first delivered to DL, at least 48 hours prior to the closing of any equity (or debt with an equity component)
financing in an amount less than $150,000 (&#8220;Future Offering&#8221;), written notice describing the proposed Future Offering and
providing the Buyer an option during the 48 hour period following delivery of such notice to DL the securities being offered in the Future
Offering on the same terms as contemplated by such Future Offering then the Company is restricted from conducting the Future Offering
during the period beginning on the Issue Date and ending nine months following the Issue Date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_233_zo1eWWdmY9M2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_23F_zUYJjZyKbAv" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_znP0U1P4L4Ud" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zQVdBH94MtWd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<ix:exclude><p id="xdx_239_zJxWq0tiU8a8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Convertible
notes payable &#8211; related parties at June 30, 2022 and December 31, 2021 (audited) consist of the following:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ConvertibleDebtTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_89E_eus-gaap--ConvertibleDebtTableTextBlock_zVPyyWTafTPk" summary="xdx: Disclosure - Convertible Notes Payable, Non-related Partied and Related Party (Details 1)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8B4_z1adEy7fgMP9" style="display: none">Summary of Convertible notes payable</span></td><td>&#160;</td>
    <td colspan="3" id="xdx_499_20220630_zIcwd9HNjOKc" style="text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="3" id="xdx_495_20211231_zuf1zan0hPj6" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">June 30,<br /> 2022</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">December 31,<br /> 2021</td></tr>
  <tr id="xdx_405_ecustom--ConvertibleNotePayableToStanleyHills_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Convertible note payable to Stanley Hills, related party</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><ix:nonFraction name="gtch:ConvertibleNotePayableToStanleyHills" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">116,605</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 12%; text-align: right"><ix:nonFraction name="gtch:ConvertibleNotePayableToStanleyHills" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">116,605</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr id="xdx_407_ecustom--LessCurrentPortionOfConvertibleNotePayable_iI_pp0p0" style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less current portion</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="gtch:LessCurrentPortionOfConvertibleNotePayable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">116,605</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="gtch:LessCurrentPortionOfConvertibleNotePayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">116,605</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
  <tr id="xdx_40F_ecustom--ConvertibleNotesPayableNetRelatedPartyLongtermPortion_iI_pp0p0" style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Convertible notes payable, net, related party, long-term portion</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1362">&#8212;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1363">&#8212;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>


</ix:nonNumeric><p id="xdx_8A0_zJSnFHMPFiTi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Stanley
Hills LLC</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company entered into a series of loan agreements with Stanley Hills LLC (&#8220;Stanley&#8221;) pursuant to which it received more than
$<span id="xdx_907_eus-gaap--ProceedsFromLoans_c20190503__20191231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Proceeds from loans"><ix:nonFraction name="us-gaap:ProceedsFromLoans" contextRef="From2019-05-032019-12-31_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,000,000</ix:nonFraction></span> in loans (the &#8220;Debt&#8221;) from May 2019 to December 2019. On February 26, 2020, to induce Stanley to continue
to provide funding, the Company and Stanley entered into a letter agreement providing that the current note payable balance due to Stanley
$<span id="xdx_90D_eus-gaap--NotesPayableCurrent_c20200226__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Note payable current"><ix:nonFraction name="us-gaap:NotesPayableCurrent" contextRef="AsOf2020-02-26_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,214,900</ix:nonFraction></span>&#160;may be converted into shares of common stock of the Company at a conversion price equal to 85% multiplied by the lowest
one trading price for the common stock during the 20-trading day period ending on the latest complete trading day prior to the conversion
date. Since the conversion price will vary based on the Company&#8217;s stock price, the beneficial conversion feature associated with
this note is accounted for as a derivative liability. Stanley&#160;has agreed to restrict its ability to convert the Debt and receive
shares of common stock such that the number of shares of common&#160;stock held by it&#160;and its&#160;affiliates after such&#160;conversion&#160;or
exercise does not exceed 4.99% of the then issued and outstanding shares of common stock. During the year ended December 31, 2021, Stanley
converted $<span id="xdx_903_eus-gaap--ConvertibleDebt_iI_pp0p0_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_z3xfhOHZBHB9" title="Convertible debt"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,231,466</ix:nonFraction></span>&#160;of its convertible note plus interest into&#160;<span id="xdx_901_ecustom--ConvertibleShares_iI_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_zFYrY7bNI6z3" title="Convertible shares"><ix:nonFraction name="gtch:ConvertibleShares" contextRef="AsOf2022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,420,758</ix:nonFraction></span>&#160;shares of the Company&#8217;s common stock,
and during the year ended December 31, 2021, Stanley loaned the Company an additional $<span id="xdx_906_eus-gaap--ProceedsFromLoans_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Proceeds from loans"><ix:nonFraction name="us-gaap:ProceedsFromLoans" contextRef="From2022-01-012022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">325,000</ix:nonFraction></span>. Also, during the year ended December
31, 2021, the Company transferred the SURG shares received as repayment of $<span id="xdx_906_eus-gaap--RepaymentsOfDebt_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Repayment of debt"><ix:nonFraction name="us-gaap:RepaymentsOfDebt" contextRef="From2022-01-012022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">800,000</ix:nonFraction></span>&#160;of this convertible note and also converted
$<span id="xdx_90F_eus-gaap--ConvertibleDebt_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_pp0p0" title="Convertible debt"><ix:nonFraction name="us-gaap:ConvertibleDebt" contextRef="AsOf2022-06-30_custom_StanleyHillsLLCMember_us-gaap_ConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">126,003</ix:nonFraction></span> of accrued interest into the principal balance. During the year ended December 31, 2021, Gonzalez assigned all his accrued balances
of $<span id="xdx_90A_eus-gaap--InterestPayableCurrent_iI_pp0p0_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_zbvt2mVjzzLh" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">424,731</ix:nonFraction></span>&#160;to Stanley in a private transaction. The unpaid interest of the Stanley debt at June 30, 2022 and December 31, 2021
was $<span id="xdx_900_ecustom--UnpaidInterestDebt_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Unpaid interest debt"><ix:nonFraction name="gtch:UnpaidInterestDebt" contextRef="AsOf2022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">14,154</ix:nonFraction></span>&#160;and $<span id="xdx_905_ecustom--UnpaidInterestDebt_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Unpaid interest debt"><ix:nonFraction name="gtch:UnpaidInterestDebt" contextRef="AsOf2021-12-31_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,372</ix:nonFraction></span>, respectively. The Stanley debt was secured via a pledge agreement on the SURG shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Discounts
on convertible notes</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
Company recognized amortization of the debt discount of $<span id="xdx_903_eus-gaap--AmortizationOfDebtDiscountPremium_c20220101__20220630__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zsEMqghsCAx6" title="Amortization of the debt discount"><ix:nonFraction name="us-gaap:AmortizationOfDebtDiscountPremium" contextRef="From2022-01-012022-06-30_us-gaap_ConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">307,879</ix:nonFraction></span> and $<span id="xdx_906_eus-gaap--AmortizationOfDebtDiscountPremium_c20210101__20210630__us-gaap--LongtermDebtTypeAxis__us-gaap--ConvertibleDebtMember_zGSZlE4dnVka"><ix:nonFraction name="us-gaap:AmortizationOfDebtDiscountPremium" contextRef="From2021-01-012021-06-30_us-gaap_ConvertibleDebtMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">321,340</ix:nonFraction></span> during the six months ended June 30, 2022 and 2021, respectively,
related to the convertible notes.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

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<ix:exclude><p id="xdx_23B_zZk1Ndb16a24" style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center"></p></ix:exclude>

<ix:exclude><p id="xdx_231_zKpxW1XZsa61" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_239_zf2zitiA22B3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23D_zylbs5svA0Fa" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zqM8zIPiRYFe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:NotesPayableTextBlock"><p id="xdx_809_ecustom--NotesPayableTextBlock_z1BSDGunL19" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
12 - <span id="xdx_82A_z6a7LlxGqjEe">Notes Payable, Non-related Parties and Related Party</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Notes
payable, non-related parties at June 30, 2022 and December 31, 2021 (audited) consist of the following:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:NotesPayableTableTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_893_ecustom--NotesPayableTableTextBlock_zPCQufJIQjvk" summary="xdx: Disclosure - Notes Payable, Non-related Parties and Related Party (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8BA_zhEc9WITJxQj" style="display: none">Schedule Of Notes Payable</span></td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">June 31,<br /> 2022</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">December 31,<br /> 2021</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">RWJ acquisition note</td><td style="width: 8%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td id="xdx_98C_ecustom--TotalNotesPayable_c20220630__us-gaap--BusinessAcquisitionAxis__custom--RWJAdvancedMarketingLLCMember_pp0p0" title="Total notes payable" style="width: 12%; text-align: right"><ix:nonFraction name="gtch:TotalNotesPayable" contextRef="AsOf2022-06-30_custom_RWJAdvancedMarketingLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,600,000</ix:nonFraction></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 8%">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_983_ecustom--TotalNotesPayable_c20220630__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_pp0p0" title="Total notes payable" style="border-bottom: Black 1pt solid; text-align: right"><ix:nonFraction name="gtch:TotalNotesPayable" contextRef="AsOf2022-06-30_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">350,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total notes payable</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98E_ecustom--TotalNotesPayable_c20220630_pp0p0" title="Total notes payable" style="text-align: right"><ix:nonFraction name="gtch:TotalNotesPayable" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,950,000</ix:nonFraction></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98B_ecustom--TotalNotesPayable_c20211231_pp0p0" title="Total notes payable" style="text-align: right"><ix:nonFraction name="gtch:TotalNotesPayable" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">2,950,000</ix:nonFraction></td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less current portion</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_988_ecustom--CurrentPortionOfNotesPayables_c20220630_pp0p0" title="Less current portion" style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="gtch:CurrentPortionOfNotesPayables" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">2,635,256</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_985_ecustom--CurrentPortionOfNotesPayables_c20211231_pp0p0" title="Less current portion" style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="gtch:CurrentPortionOfNotesPayables" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">2,612,397</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Notes payable, long-term portion</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_983_ecustom--LongTermNotePayables_c20220630_pp0p0" title="Notes payable, long-term portion" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="gtch:LongTermNotePayables" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">314,744</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98E_ecustom--LongTermNotePayables_c20211231_pp0p0" title="Notes payable, long-term portion" style="border-bottom: Black 2.5pt double; text-align: right"><ix:nonFraction name="gtch:LongTermNotePayables" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">337,603</ix:nonFraction></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>


</ix:nonNumeric><p id="xdx_8A6_zVAF67h7Qy21" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>RWJ
Acquisition Note</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
connection with the acquisition of RWJ in September 2017, the Company issued a note payable. The note accrues interest at <span id="xdx_90B_eus-gaap--AccountsPayableInterestBearingInterestRate_iI_dp_c20171231__us-gaap--BusinessAcquisitionAxis__custom--RWJAdvancedMarketingLLCMember_zNqNc1KAGWsb" title="Interest rate"><ix:nonFraction name="us-gaap:AccountsPayableInterestBearingInterestRate" contextRef="AsOf2017-12-31_custom_RWJAdvancedMarketingLLCMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">3.5</ix:nonFraction></span>%, was due
on December 31, 2019 and is secured by the assets purchased in the acquisition. The Company contests the validity of the note, as such
the note has not been repaid as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>SBA
Loan</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
June 22, 2020, the Company received a loan from the Small Business Administration under the Economic Injury Disaster Loan program related
to the COVID-19 relief efforts. The loan bears interest at <span id="xdx_902_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20200601__20200622__us-gaap--LongtermDebtTypeAxis__custom--EIDLMember_zd9bgl04pUvj" title="Interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="From2020-06-012020-06-22_custom_EIDLMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">3.75</ix:nonFraction></span>%, requires monthly principal and interest payments of $<span id="xdx_905_eus-gaap--DebtInstrumentPeriodicPayment_c20200601__20200622__us-gaap--LongtermDebtTypeAxis__custom--EIDLMember_pp0p0" title="Principal periodic payments"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="From2020-06-012020-06-22_custom_EIDLMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">731</ix:nonFraction></span> after 12 months
from funding and is due <span id="xdx_90D_eus-gaap--DebtInstrumentTerm_dtY_c20200601__20200622__us-gaap--LongtermDebtTypeAxis__custom--EIDLMember_zBCZ4Z4scXj7" title="Term"><ix:nonNumeric contextRef="From2020-06-012020-06-22_custom_EIDLMember" format="ixt-sec:duryear" name="us-gaap:DebtInstrumentTerm">30</ix:nonNumeric></span> years from the date of issuance. The monthly payments were extended by the SBA to all EIDL borrowers with
additional 12 months. Monthly payments will be commenced on or around June 16, 2022. On October 1, 2021, the Company entered an Amended
Loan Authorization and Agreement with the SBA providing for the modification of the Original Note providing for monthly principal and
interest payments of $<span id="xdx_900_eus-gaap--DebtInstrumentFaceAmount_c20211002__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_pp0p0" title="Principal amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2021-10-02_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,771</ix:nonFraction></span>&#160;after&#160;24&#160;months from the Original Note commencing on or around&#160;June 22, 2022.&#160;On
March 17, 2022 the SBA notified it deferred the payments to all COVID-19 EIDL loans will have the first payment due extended from 24-months
to 30-months from the date of the note.&#160;The Modified Note will continue to bear interest at&#160;<span id="xdx_904_eus-gaap--DebtInstrumentInterestRateEffectivePercentage_iI_dp_c20211002__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_zA4IiTm9Q6S3" title="Interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateEffectivePercentage" contextRef="AsOf2021-10-02_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">3.75</ix:nonFraction></span>% and is due 30 years from
the date of issuance of the Original Note. The Modified Note is guaranteed by Douglas Davis, the former CEO of the Company and current
consultant, as well as by GBT Tokenize Corp. The additional funding of $<span id="xdx_906_eus-gaap--ProceedsFromOtherDebt_c20211003__20211005__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_pp0p0" title="Proceeds from debt"><ix:nonFraction name="us-gaap:ProceedsFromOtherDebt" contextRef="From2021-10-032021-10-05_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">200,000</ix:nonFraction></span>&#160;was received by the Company on October 5, 2021.
The balance of the note at June 31, 2022 and December 31, 2021 was $<span id="xdx_90A_eus-gaap--NotesPayable_c20220630__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_pp0p0" title="Note payable"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2022-06-30_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">350,000</ix:nonFraction></span> and $<span id="xdx_909_eus-gaap--NotesPayable_c20211231__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_pp0p0" title="Note payable"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2021-12-31_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">350,000</ix:nonFraction></span> plus accrued interest of $<span id="xdx_905_eus-gaap--InterestPayableCurrent_c20220630__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_pp0p0" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2022-06-30_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">17,091</ix:nonFraction></span> and $<span id="xdx_906_eus-gaap--InterestPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--SBALoanMember_pp0p0" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2021-12-31_custom_SBALoanMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,581</ix:nonFraction></span>,
respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
payable, related party at June 30, 2022 and December 31, 2021 (audited) consist of the following:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="gtch:ScheduleOfNotePayableRelatedPartiesTableTextblock"><table cellpadding="0" cellspacing="0" id="xdx_89A_ecustom--ScheduleOfNotePayableRelatedPartiesTableTextblock_zZxIXRHZrsV5" summary="xdx: Disclosure - Notes Payable, Non-related Parties and Related Party (Details 1)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding-top: 0pt; padding-right: 0pt; padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8B6_zvmMeAyQ54be" style="display: none">Schedule of Notes payable related parties</span></td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">June 31,<br /> 2022</td><td style="padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; text-align: center">December 31,<br /> 2021</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 56%; text-align: left; text-indent: -10pt">Alpha Eda note payable</td><td style="width: 8%; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_984_ecustom--TotalNotesPayableRelatedParty_c20220630__us-gaap--BusinessAcquisitionAxis__custom--AlphaEdaMember_pp0p0" title="Total notes payable" style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><ix:nonFraction name="gtch:TotalNotesPayableRelatedParty" contextRef="AsOf2022-06-30_custom_AlphaEdaMember97787843" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">140,000</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td><td style="width: 8%; padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; width: 1%; text-align: left">$</td><td id="xdx_986_ecustom--TotalNotesPayableRelatedParty_c20211231__us-gaap--BusinessAcquisitionAxis__custom--AlphaEdaMember_pp0p0" title="Total notes payable" style="border-bottom: Black 1pt solid; width: 12%; text-align: right"><ix:nonFraction name="gtch:TotalNotesPayableRelatedParty" contextRef="AsOf2021-12-31_custom_AlphaEdaMember97787859" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">140,000</ix:nonFraction></td><td style="width: 1%; padding-bottom: 1pt; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Less current portion</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_983_ecustom--CurrentPortionOfNotePayableRelatedParties_c20220630_pp0p0" title="Less current portion" style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="gtch:CurrentPortionOfNotePayableRelatedParties" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">140,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td id="xdx_980_ecustom--CurrentPortionOfNotePayableRelatedParties_c20211231_pp0p0" title="Less current portion" style="border-bottom: Black 1pt solid; text-align: right">(<ix:nonFraction name="gtch:CurrentPortionOfNotePayableRelatedParties" contextRef="AsOf2021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" sign="-" unitRef="USD">140,000</ix:nonFraction></td><td style="padding-bottom: 1pt; text-align: left">)</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Notes payable, net, related party, long-term portion</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98D_ecustom--NotesPayableNetRelatedPartyLongtermPortion_c20220630_pp0p0" title="Notes payable, net, related party, long-term portion" style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1449">&#8212;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td><td style="padding-bottom: 2.5pt">&#160;</td>
    <td style="border-bottom: Black 2.5pt double; text-align: left">$</td><td id="xdx_98A_ecustom--NotesPayableNetRelatedPartyLongtermPortion_c20211231_pp0p0" title="Notes payable, net, related party, long-term portion" style="border-bottom: Black 2.5pt double; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1451">&#8212;</span></td><td style="padding-bottom: 2.5pt; text-align: left">&#160;</td></tr>
  </table>

</ix:nonNumeric><p id="xdx_8AA_zqlVkZkZOZ8d" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:exclude><p id="xdx_239_zOWxDajwGI38" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_235_zCHgCjxAptWb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zSXl0tN0Rwu7" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc</b></span>&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_23B_zWl364qozFVi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23A_zSGouMEnUjdj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_236_z2z8dui1qMF5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><i>Alpha
Eda</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">On
November 15, 2020, the Company issued a promissory note to Alpha Eda, LLC (&#8220;Alpha&#8221;), a related party for $140,000. The
note accrues interest at&#160;10%, is unsecured and was due on&#160;September 30, 2021. On June 20, 2021 Alpha and the Company
extended the note maturity to&#160;December 31, 2022. The balance of the note at June 31, 2022 and December 31, 2021 (audited) was
$<span id="xdx_903_eus-gaap--NotesPayable_c20220630__us-gaap--DebtInstrumentAxis__custom--AlphaEdaMember_pp0p0" title="Note payable"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2022-06-30_custom_AlphaEdaMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">140,000</ix:nonFraction></span>&#160;and
$<span id="xdx_900_eus-gaap--NotesPayable_c20211231__us-gaap--DebtInstrumentAxis__custom--AlphaEdaMember_pp0p0" title="Note payable"><ix:nonFraction name="us-gaap:NotesPayable" contextRef="AsOf2021-12-31_custom_AlphaEdaMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">140,000</ix:nonFraction></span>
plus accrued interest of $<span id="xdx_90A_eus-gaap--InterestPayableCurrent_c20220630__us-gaap--DebtInstrumentAxis__custom--AlphaEdaMember_pp0p0" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2022-06-30_custom_AlphaEdaMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">25,576</ix:nonFraction></span>
and $<span id="xdx_909_eus-gaap--InterestPayableCurrent_c20211231__us-gaap--DebtInstrumentAxis__custom--AlphaEdaMember_pp0p0" title="Accrued interest"><ix:nonFraction name="us-gaap:InterestPayableCurrent" contextRef="AsOf2021-12-31_custom_AlphaEdaMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">16,633</ix:nonFraction></span>,
respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:DerivativesAndFairValueTextBlock"><p id="xdx_801_eus-gaap--DerivativesAndFairValueTextBlock_zgBSUS6y79f4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Note
13- <span id="xdx_82F_zyT0bitrhYR9">Derivative Liability</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certain
of the convertible notes payable discussed in these financials have a conversion price that can be adjusted based on the Company&#8217;s
stock price which results in the conversion feature being recorded as a derivative liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The FV of the derivative liability is recorded and
shown separately under current liabilities. Changes in the FV of the derivative liability is recorded in the statement of operations under
other income (expense).</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">The Company uses a weighted average Black-Scholes option pricing model
with the following assumptions to measure the FV of derivative liability at June 30, 2022 and December 31, 2021 (audited):</p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock"><table cellspacing="0" cellpadding="0" summary="xdx: Disclosure - Derivative Liability (Details)" id="xdx_89A_eus-gaap--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisUnobservableInputReconciliationTableTextBlock_zhBEDysZFisb" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-align: center; text-indent: -10pt"><span id="xdx_8B2_zxyBo6W4Jo32" style="display: none">Schedule Of Assumptions to measure fair value</span></td>
    <td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td>
    <td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding-left: 10pt; text-align: center; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">June
    30,<br />
    2022</span></td>
    <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td colspan="3" style="border-bottom: black 1pt solid; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">December
    31,<br />
    2021</span></td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock
    price</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td style="width: 70%; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Risk
    free rate</span></td>
    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="width: 2%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="width: 11%; text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20210101__20211231__srt--RangeAxis__srt--MinimumMember_zAjwNZKJp3z7" title="Risk free rate"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" contextRef="From2021-01-012021-12-31_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.07</ix:nonFraction></span>-<span id="xdx_90F_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate_dp_c20210101__20211231__srt--RangeAxis__srt--MaximumMember_zOz4JJClqvQk" title="Risk free rate"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate" contextRef="From2021-01-012021-12-31_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0.39</ix:nonFraction></span></span></td>
    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Volatility</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_902_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20220101__20220630__srt--RangeAxis__srt--MinimumMember_zSZU2yqUgc7i" title="Volatility"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" contextRef="From2022-01-012022-06-30_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">161</ix:nonFraction></span>-<span id="xdx_903_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20220101__20220630__srt--RangeAxis__srt--MaximumMember_z60QT70Rq151" title="Volatility"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" contextRef="From2022-01-012022-06-30_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">242</ix:nonFraction></span>%</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20210101__20211231__srt--RangeAxis__srt--MinimumMember_zcOZyr90XnKk" title="Volatility"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" contextRef="From2021-01-012021-12-31_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">167</ix:nonFraction></span>-<span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate_dp_c20210101__20211231__srt--RangeAxis__srt--MaximumMember_z2gGOiNfLfzi" title="Volatility"><ix:nonFraction name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate" contextRef="From2021-01-012021-12-31_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">217</ix:nonFraction></span></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Conversion/
    Exercise price</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_90E_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20211231__srt--RangeAxis__srt--MinimumMember_pdd" title="Conversion/ Exercise price"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2021-12-31_srt_MinimumMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.102</ix:nonFraction></span>-<span id="xdx_908_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20211231__srt--RangeAxis__srt--MaximumMember_pdd" title="Conversion/ Exercise price"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2021-12-31_srt_MaximumMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.103</ix:nonFraction></span></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Dividend
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PolicyholderDividendsRateOnPolicyEarnings_dp_c20220101__20220630_z5m2F4sUPRui" title="Dividend rate"><ix:nonFraction name="us-gaap:PolicyholderDividendsRateOnPolicyEarnings" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0</ix:nonFraction></span></span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">%</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><span id="xdx_905_eus-gaap--PolicyholderDividendsRateOnPolicyEarnings_dp_c20210101__20211231_zA5ZyOXXXJ31" title="Dividend rate"><ix:nonFraction name="us-gaap:PolicyholderDividendsRateOnPolicyEarnings" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">0</ix:nonFraction></span></span></td>
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  </table>
</ix:nonNumeric><p id="xdx_8A4_z6d7aohZ17L4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The
following table represents the Company&#8217;s derivative liability activity for the six months ended June 30, 2022 and December 31,
2021:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock"><table cellspacing="0" cellpadding="0" summary="xdx: Disclosure - Derivative Liability (Details 1)" id="xdx_898_eus-gaap--DerivativeInstrumentsAndHedgingActivitiesDisclosureTextBlock_zdXOOcnaZo16" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="display: none; font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;Schedule of Derivative Liabilities at Fair Value</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: right"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="width: 72%; padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative
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    <td style="width: 9%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="width: 1%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Change
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    <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative
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    <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Debt
    modification</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
  <tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Issuance
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    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fair
    value of beneficial conversion feature of debt converted</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: white">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Change
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    <td style="padding-bottom: 1pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
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  <tr style="vertical-align: bottom; background-color: #CCEEFF">
    <td style="padding-left: 10pt; text-indent: -10pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Derivative
    liability balance, June 30, 2022</span></td>
    <td style="padding-bottom: 2.5pt"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 2.25pt double"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">$</span></td>
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</ix:nonNumeric><p id="xdx_8AD_z3cOTWVpxbtl" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 27; Value: 1 -->
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    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_239_zUmHB8x9yJRf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p></ix:exclude>

<ix:exclude><p id="xdx_236_zAOSal1cPvFd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p></ix:exclude>

<ix:exclude><p id="xdx_239_zBQF2FE1x7z7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_z4iaRbNSwReg" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_231_zCp1FoBv2A3e" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23F_zh4ivy6QoiWf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:StockholdersEquityNoteDisclosureTextBlock"><p id="xdx_80D_eus-gaap--StockholdersEquityNoteDisclosureTextBlock_z8erxwF2ntNc" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note
14 &#8211; <span id="xdx_82A_zIkFZ4FZ3jDe">Stockholders&#8217; Equity</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Common
Stock</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Board of Directors of the Company approved, on April 13, 2020, a reverse stock split of all of the Company&#8217;s Common Stock, pursuant
to which every 50 shares of Common Stock of the Company was reverse split, reconstituted and converted into one share of Common Stock
of the Company (the &#8220;Reverse Stock Split&#8221;). The Company submitted an Issuer Company Related Action Notification regarding
the Reverse Stock Split to FINRA on April 14, 2020. To effectuate the Reverse Stock Split, the Company filed on April 21, 2020 a Certificate
of Change Pursuant to Nevada Revised Statutes (&#8220;NRS&#8221;) Section 78.209 (the &#8220;Certificate of Change&#8221;) with the Secretary
of State of the State of Nevada subject to FINRA approval. On June 8, 2020 FINRA advised the Company that such request is deficient due
to the fact that a holder of an outstanding convertible note of the Company had entered into two settlements with the SEC that related
to securities laws violations but were in no way related to the Company. As a result, FINRA advised that it is necessary for the protection
of investors, the public interest, and to maintain fair and orderly markets that documentation related to the Reverse Stock Split not
be processed. The Company appealed the decision made by FINRA on June 15, 2020. On August 4, 2020, FINRA notified the Company that its
appeal had been denied. On October 25, 2021 FINRA approved the Reverse Stock Split and on October 26, 2021, the Company effectuated a&#160;<span id="xdx_902_eus-gaap--StockholdersEquityReverseStockSplit_c20211003__20211026" title="Reverse stock split"><ix:nonNumeric contextRef="From2021-10-032021-10-26" name="us-gaap:StockholdersEquityReverseStockSplit">1
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During
the three months ended March 31, 2022, the Company had the following transactions in its common stock:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued an aggregate of
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  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued&#160;<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--EquityFinancingAgreementMember_pdd" title="Issuance of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-06-30_custom_EquityFinancingAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">463,303</ix:nonFraction></span>&#160;shares
    to GHS from Equity Financing Agreement for gross consideration of $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--EquityFinancingAgreementMember_pp0p0" title="Aggregate Purchase Price"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-01-012022-06-30_custom_EquityFinancingAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">68,308</ix:nonFraction></span>, The value of the shares of was determined based on the
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  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During
the three months ended June 30, 2022, the Company had the following transactions in its common stock:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued an aggregate of <span id="xdx_904_eus-gaap--DebtConversionConvertedInstrumentSharesIssued1_c20220401__20220630_zph00GtqNeJ2" title="Debt conversion, converted instrument, shares"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentSharesIssued1" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">288,672,073</ix:nonFraction></span> for the conversion of convertible notes of $<span id="xdx_90D_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20220401__20220630_z95OFUehTj03" title="Debt conversion, converted instrument, Value"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentAmount1" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,660,370</ix:nonFraction></span> and accrued interest of $<span id="xdx_90C_ecustom--DebtConversionConvertedInstrumentAccruedInterest_pp0p0_c20220401__20220630_zfhU5ZPATx9a" title="Debt conversion, converted instrument, Accrued interest"><ix:nonFraction name="gtch:DebtConversionConvertedInstrumentAccruedInterest" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">6,491</ix:nonFraction></span>; and </span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued&#160;<span id="xdx_907_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220630__us-gaap--TypeOfArrangementAxis__custom--JointVentureAgreementMember_zOWq5oVuPd62" title="Issuance of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-04-012022-06-30_custom_JointVentureAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">150,000,000</ix:nonFraction></span>&#160;shares
to GBT Tokenize for certain joint venture agreement between Magic International Argentina FC, S.L. and the Company. The value of the
shares of $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20220401__20220630__dei--LegalEntityAxis__custom--GbtTokenizeMember_zaFzAFgaQtel" title="Issuance of shares value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-04-012022-06-30_custom_GbtTokenizeMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">1,500</ix:nonFraction></span>&#160;was
determined based on the FV of the Company&#8217;s common stock; and</span> <span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td>&#160;</td>
<td>&#160;</td>
<td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued&#160;<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zXKACQce5uO6" title="Issuance of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-04-012022-06-30_us-gaap_InvestorMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">500,000,000</ix:nonFraction></span>&#160;shares to Metaverse for certain equity method investment. The value of the shares of $<span id="xdx_901_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20220401__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember_zGmIB0yjsfi2" title="Issuance of shares value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-04-012022-06-30_us-gaap_InvestorMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,000</ix:nonFraction></span>&#160;was determined based on the FV of the Company&#8217;s common stock; and</span> <span style="font: 10pt Times New Roman, Times, Serif">&#160;</span> <span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td>&#160;</td>
<td>&#160;</td>
<td style="text-align: justify">&#160;</td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued&#160;<span id="xdx_905_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220401__20220630__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zJgjqSYEUj9c" title="Issuance of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-04-012022-06-30_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,036,697</ix:nonFraction></span>&#160;shares to GHS from Equity Financing Agreement for gross consideration of $<span id="xdx_908_eus-gaap--StockIssuedDuringPeriodValueNewIssues_pp0p0_c20220401__20220630_zc0hRmXaE362" title="Issuance of shares value"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">163,559</ix:nonFraction></span>, The value of the shares of was determined based on the Equity Financing.</span> <span style="font: 10pt Times New Roman, Times, Serif">&#160;</span> <span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Series
B Preferred Shares</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
November 1, 2011, the Company and certain creditors entered into a Settlement Agreement (the &#8220;Settlement Agreement&#8221;) whereby
without admitting any wrongdoing on either part, the parties settled all previous agreements and resolved any existing disputes. Under
the terms of the Settlement Agreement, the Company agreed to issue the creditors 45,000 shares of Series B Preferred Stock of the Company
on a pro-rata basis. Following the issuance and delivery of the shares of Series B Preferred Stock to said creditors, as well as surrendering
the undelivered shares, the Settlement Agreement resulted in the settlement of all debts, liabilities and obligations between the parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Series B Preferred Stock has a stated value of $100 per share and is convertible into the Company&#8217;s common stock at a conversion
price of $<span id="xdx_908_eus-gaap--DebtInstrumentConvertibleConversionPrice1_c20111101__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesBPreferredStockMember_pdd" title="Conversion price (in dollars per share)"><ix:nonFraction name="us-gaap:DebtInstrumentConvertibleConversionPrice1" contextRef="AsOf2011-11-01_us-gaap_SeriesBPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">30.00</ix:nonFraction></span> per share representing 30 post split common shares. Furthermore, the Series B Preferred Stock votes on an as converted
basis and carries standard anti-dilution rights. These rights were subsequently removed, except in cases of stock dividends or splits.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 28; Value: 1 -->
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    <div id="xdx_233_zSdkpr2jmdUh" style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_231_zhDmG5Ohv7Na" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_232_zkOIolKU1nni" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23E_zyXJ55fVX6Sf" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zXh0jfOqIN09" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zzQgjiKvfERi" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Series
C Preferred Shares</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
April 29, 2011, GV Global Communications, Inc. (&#8220;GV&#8221;) provided funding to the Company of $111,000 (the &#8220;Loan&#8221;).
On September 25, 2012, the Company and GV entered into a Conversion Agreement pursuant to which the Company agreed to convert the Loan
into 10,000 shares of Series C Preferred Stock of the Company, which was approved by the Board of Directors.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Each
share of Series C Preferred Stock is convertible, at the option of GV, into such number of shares of common stock of the Company as determined
by dividing the Stated Value (as defined below) by the Conversion Price (as defined below). The Conversion Price for each share is equal
to a 50% discount to the average of the lowest three lowest closing bid prices of the Company&#8217;s common stock during the 10-day
trading period prior to the conversion with a minimum conversion price of $0.02. The stated value is $11.00 per share (the &#8220;Stated
Value&#8221;). The Series C Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series C Preferred
Stock shall be entitled to one vote for each share of common stock that the Series C Preferred Stock shall be convertible into.&#160;GV
has contractually agreed to restrict its ability to convert the Series C Preferred Stock and receive shares of the Company&#8217;s common
stock such that the number of shares of the Company&#8217;s common stock held by it and its affiliates after such conversion does not
exceed 4.9% of the then issued and outstanding shares of the Company&#8217;s common stock.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">At December 31, 2021 and 2020, GV owns <span id="xdx_905_eus-gaap--PreferredStockSharesOutstanding_c20201231__dei--LegalEntityAxis__custom--GvGlobalCommunicationsIncMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesCPreferredStockMember_pdd"><ix:nonFraction name="us-gaap:PreferredStockSharesOutstanding" contextRef="AsOf2020-12-31_custom_GvGlobalCommunicationsIncMember_us-gaap_SeriesCPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">700</ix:nonFraction>
</span>Series C Preferred Shares.</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
issuance of the Series C Preferred Stock was made in reliance upon exemptions from registration pursuant to Section 4(a)(2) under the
Securities Act of 1933 and Rule 506 promulgated under Regulation D thereunder. GV is an accredited investor as defined in Rule 501 of
Regulation D promulgated under the Securities Act of 1933.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Series
H Preferred Shares</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
June 17, 2019, the Company, AltCorp Trading LLC, a Costa Rica company and a wholly-owned subsidiary of the Company (&#8220;AltCorp&#8221;),
GBT Technologies, S.A., a Costa Rica company (&#8220;GBT-CR&#8221;) and Pablo Gonzalez, a shareholder&#8217;s representative of GBT-CR
(&#8220;Gonzalez&#8221;), entered into and closed an Exchange Agreement (the &#8220;GBT Exchange Agreement&#8221;) pursuant to which
the parties exchanged certain securities. In accordance with the Exchange Agreement, AltCorp acquired <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesAcquisitions_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zKcyZ5F2vfad" title="Stock Issued for Acquisitions, Shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesAcquisitions" contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">625,000</ix:nonFraction></span> shares of GBT-CR representing
25% of its issued and outstanding shares of common stock from Gonzalez in exchange for <span id="xdx_90B_eus-gaap--ConversionOfStockSharesConverted1_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zR9JIe2qHrif" title="Number of shares converted"><ix:nonFraction name="us-gaap:ConversionOfStockSharesConverted1" contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">20,000</ix:nonFraction></span> shares of Series H Convertible Preferred
Stock of the Company and a Convertible Note of $<span id="xdx_905_eus-gaap--DebtConversionConvertedInstrumentAmount1_pp0p0_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zgTZYLnTF0nd" title="Debt conversion, converted instrument, Value"><ix:nonFraction name="us-gaap:DebtConversionConvertedInstrumentAmount1" contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,000,000</ix:nonFraction></span> issued by the Company (the &#8220;Gopher Convertible Note&#8221;) as well
as additional consideration. The Gopher Convertible Note bears interest of 6% and was paid at maturity on <span id="xdx_907_eus-gaap--DebtInstrumentMaturityDate_dd_c20190601__20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zW59R5ud5GM4" title="Maturity date"><ix:nonNumeric contextRef="From2019-06-012019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:datemonthdayyearen" name="us-gaap:DebtInstrumentMaturityDate">December 31, 2021</ix:nonNumeric></span>. At the election
of Gonzalez, the Gopher Convertible Note can be converted into a maximum of 20,000 shares of Series H Preferred Stock. Each share of
Series H Preferred Stock is convertible, at the option of the holder but subject to the Company increasing its authorized shares of common
stock, into such number of shares of common stock of the Company as determined by dividing the Stated Value ($<span id="xdx_90F_eus-gaap--DividendsPayableAmountPerShare_iI_c20190617__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--AltcorpMember__us-gaap--StatementClassOfStockAxis__us-gaap--SeriesHPreferredStockMember_zU7v1047d964" title="Dividend per share"><ix:nonFraction name="us-gaap:DividendsPayableAmountPerShare" contextRef="AsOf2019-06-17_custom_AltcorpMember_us-gaap_SeriesHPreferredStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">500</ix:nonFraction></span> per share) by the conversion
price ($10.00 per share). The Series H Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series
H Preferred Stock shall be entitled to one vote for each share of common stock that the Series H Preferred Stock may be convertible into.&#160;On
July 8, 2019, the Company entered a Consulting Agreement with Glen Eagles Glen Eagles Acquisition LP (&#8220;Glen&#8221;) as consultant
to provide services in connection with the Company&#8217;s acquisition of 25% of GBT-CR. Consultant will provide analysis, interaction
with related professional and other services as requested by the Company to integrate and expand capabilities between GBT-CR and the
Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_238_zUalF6uG3ftf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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    <div id="xdx_23C_ztrZgJ9fjund" style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_230_zf186mzj9mrf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_230_z0I9LbNky0rd" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23F_zC4Fl9CHvRfl" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_231_zLMOb2xzcbd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_234_zhuIxdCrzLeg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><i>Warrants</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
following is a summary of warrant activity.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock"><table cellpadding="0" cellspacing="0" id="xdx_88D_eus-gaap--ScheduleOfStockholdersEquityNoteWarrantsOrRightsTextBlock_zu79dQhLSDd1" summary="xdx: Disclosure - Stockholders&apos; Equity (Details)" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
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    <td colspan="3" style="text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="3" style="font-weight: bold; text-align: center">&#160;</td><td>&#160;</td>
    <td colspan="3" style="text-align: center">&#160;</td></tr>
  <tr style="vertical-align: bottom">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 15%; text-align: right"><span id="xdx_904_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms_dtY_c20220101__20220630_zqgNEPF01Ffg" title="Weighted Average Remaining Contractual Life, Outstanding, Beginning"><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" format="ixt-sec:duryear" name="us-gaap:ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms">1.76</ix:nonNumeric></span></td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td id="xdx_988_eus-gaap--SharebasedCompensationArrangementBySharebasedPaymentAwardEquityInstrumentsOtherThanOptionsAggregateIntrinsicValueOutstanding_iS_pp0p0_c20220101__20220630_zWB8dGCKfk89" title="Aggregate Intrinsic Value Outstanding, Beginning" style="width: 15%; text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1597">&#8212;</span></td><td style="width: 1%; text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt"><span style="font: 10pt Times New Roman, Times, Serif">Granted</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td id="xdx_98D_eus-gaap--ShareBasedCompensationArrangementByShareBasedPaymentAwardNonOptionEquityInstrumentsGranted_c20220101__20220630_pdd" title="Warrants Granted" style="text-align: right"><span style="-sec-ix-hidden: xdx2ixbrl1599">&#8212;</span></td><td style="text-align: left">&#160;</td><td>&#160;</td>
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    <td style="text-align: left">&#160;</td><td style="text-align: right">&#160;</td><td style="text-align: left">&#160;</td><td>&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>&#160;&#160;</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i><span style="text-decoration: underline">Equity
Purchase Agreement and Registration Rights Agreement</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
December 17, 2021 (the &#8220;Effective Date&#8221;), the Company entered into an equity financing agreement (the &#8220;Equity Financing
Agreement&#8221;) and a registration rights agreement (the &#8220;Registration Rights Agreement&#8221;) with GHS Investments LLC (&#8220;GHS&#8221;),
pursuant to which GHS shall purchase from the Company, up to that number of shares of common stock of the Company (the &#8220;Shares&#8221;)
having an aggregate Purchase Price of $<span id="xdx_90B_eus-gaap--StockIssuedDuringPeriodValueNewIssues_c20211202__20211217_pp0p0" title="Aggregate Purchase Price"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueNewIssues" contextRef="From2021-12-022021-12-17" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">10,000,000</ix:nonFraction></span>, subject to certain limitations and conditions set forth in the Equity Financing Agreement
from time to time over the course of 24 months after an effective registration of the Shares with the SEC pursuant to the Registration
Rights Agreement, is declared effective by the SEC (the &#8220;Contract Period&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white">&#160;</p>

<ix:exclude><!-- Field: Page; Sequence: 30; Value: 1 -->
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<ix:exclude><p id="xdx_238_zAj1P6bHee4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_238_z3aaLZdpVjFg" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zEhiKhWGKSAh" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23A_zu2hRFxnv2Nf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23B_zpDgNbrKtM14" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
Equity Financing Agreement grants the Company the right, from time to time at its sole discretion (subject to certain conditions) during
the Contract Period, to direct GHS to purchase shares of Common Stock on any business day (a &#8220;Put&#8221;), provided that at least
10 trading days has passed since the most recent Put.&#160;The purchase price of the shares of Common Stock contained in a Put will
be 90% of the lowest daily VWAP of the Company&#8217;s Common Stock during the 10 consecutive trading days preceding the receipt by
GHS of the applicable Put notice. Such sales of Common Stock by the Company, if any, may occur from time to time, at the Company&#8217;s
option, during the Contract Period. Subject to the satisfaction of certain conditions set forth in the Equity Financing Agreement, on
each Put the Company will deliver an number of Shares equaling 110% of the dollar amount of each Put. The maximum dollar amount of each
Put will not exceed 200% of the average daily trading dollar volume for the Company&#8217;s Common Stock during the ten trading days
preceding the Trading Day that GHS receives a Put. No Put will be made in an amount equaling less than $10,000 or greater than $500,000.
Puts are further limited to GHS owning no more than 4.99% of the outstanding stock of the Company at any given time. The Equity Financing
Agreement and the Registration Rights Agreement contain customary representations, obligations, rights, warranties, agreements and conditions
of the parties. The Equity Financing Agreement terminates upon any of the following events: when GHS has purchased an aggregate of $10,000,000
in the Common Stock of the Company pursuant to the Equity Financing Agreement; on the date that is 24 calendar months from the date the
Equity Financing Agreement was executed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Actual
sales of shares of Common Stock to GHS under the Equity Financing Agreement will depend on a variety of factors to be determined by the
Company from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by the
Company as to the appropriate sources of funding for the Company and its operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the six months ended June 30, 2022, the Company received $<span id="xdx_90A_eus-gaap--SaleOfStockConsiderationReceivedOnTransaction_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--EquityPurchaseAgreementMember_pp0p0" title="Proceeds from equity amount received"><ix:nonFraction name="us-gaap:SaleOfStockConsiderationReceivedOnTransaction" contextRef="From2022-01-012022-06-30_custom_EquityPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">231,866</ix:nonFraction></span> as proceeds from the equity purchase agreement for issuance of <span id="xdx_900_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--EquityPurchaseAgreementMember_pdd" title="Issuance of shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2022-01-012022-06-30_custom_EquityPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,500,000</ix:nonFraction></span>
registered common shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:RelatedPartyTransactionsDisclosureTextBlock"><p id="xdx_800_eus-gaap--RelatedPartyTransactionsDisclosureTextBlock_zgfhuk5Vry52" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note
15 &#8211; <span id="xdx_82C_zdExNxroEkyb">Other Related Party Transactions</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Related
parties are natural persons or other entities that have the ability, directly or indirectly, to control another party or exercise significant
influence over the party in making financial and operating decisions. Related parties include other parties that are subject to common
control or that are subject to common significant influences.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
August 1, 2021, the Company and Danny Rittman, Chief Technology Officer and a Director of the Company, agreed to amend his employment
agreement pursuant to which he will receive salary at $5,000 per month.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
September 1, 2017, the Company entered into and closed an Asset Purchase Agreement with a third party, RWJ Advanced Marketing, LLC (&#8220;RWJ&#8221;),
a Georgia corporation, pursuant to which the Company purchased certain assets from RWJ, including inventory, terminals, licenses and
permits and intangible assets. At closing, the Company and Mr. Greg Bauer entered into an Employment Agreement pursuant to which Mr.
Bauer was retained as Chief Executive Officer for a term of one year, subject to an automatic extension, unless terminated, in consideration
of a base salary of $<span id="xdx_900_ecustom--BaseSalary_c20170830__20170901__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--RWJAdvancedMarketingLLCMember_pp0p0" title="Base Salary"><ix:nonFraction name="gtch:BaseSalary" contextRef="From2017-08-302017-09-01_custom_RWJAdvancedMarketingLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">250,000</ix:nonFraction></span> and a bonus of 10% of net profit generated by the assets acquired. Mr. Bauer was also appointed to the Board
of Directors of the Company. As of the closing date, Mr. Murray resigned as Chief Executive Officer of the Company but will remain as
a director of the Company. Mr. Bauer, since 2004 through present, has served as executive director with W.L. Petrey Wholesale, Inc. where
he was in charge of the UGO/Preway operations. The Company is in litigations in connection with RWJ transaction.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_239_z9XGRHOXLc8c" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 31; Value: 1 -->
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    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_23A_zCt6Ehyun1jk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_zuv8imjCBQSc" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_z6l0vP9yZCDj" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_zCS3kciLtgWj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zlaGmVUqe8gg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
January 1, 2019, the Company and Douglas Davis entered into an Amended and Restated Employment Agreement pursuant to which Mr. Davis
was retained as Chief Executive Officer. Mr. Davis served as Interim Chief Executive Officer from July 2018 to April 11, 2020. The term
of Mr. Davis&#8217; employment was for two years through January 1, 2021. Mr. Davis was entitled to an annual base salary of $<span id="xdx_90E_ecustom--BaseSalary_c20181230__20190102__srt--TitleOfIndividualAxis__srt--DirectorMember_pp0p0" title="Base Salary"><ix:nonFraction name="gtch:BaseSalary" contextRef="From2018-12-302019-01-02_srt_DirectorMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">250,000</ix:nonFraction></span>,
which was to be increased to $<span id="xdx_90A_eus-gaap--SalariesAndWages_c20181230__20190102__srt--TitleOfIndividualAxis__custom--DavisMember__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_pp0p0" title="Base salary"><ix:nonFraction name="us-gaap:SalariesAndWages" contextRef="From2018-12-302019-01-02_custom_DavisMember_custom_EmploymentAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">400,000</ix:nonFraction></span> upon the Company up-listing to a national exchange. Mr. Davis was also entitled to the issuance
of Stock Options to acquire an aggregate of <span id="xdx_90B_eus-gaap--OptionIndexedToIssuersEquityShares_c20181230__20190102__srt--TitleOfIndividualAxis__custom--DavisMember__us-gaap--TypeOfArrangementAxis__custom--EmploymentAgreementMember_pdd" title="Stock option issued"><ix:nonFraction name="us-gaap:OptionIndexedToIssuersEquityShares" contextRef="From2018-12-302019-01-02_custom_DavisMember_custom_EmploymentAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">50,000</ix:nonFraction></span> shares of common stock of the Company, exercisable for five years, subject to vesting.
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stock upon the successful dual list of the Company on an international exchange such as SIX Zurich Stock Exchange or Euronext, (iii)
15,000 shares of common stock upon the successful up listing to a national exchange such as the Nasdaq, NYSE Euronext, TSX, AMEX or other,
and (iv) with respect to 5,000 shares of common stock at each of the six month anniversaries (July 1, 2019 and January 1, 2020). The
exercise price of such options shall be the closing price of the Company on the date prior to such event.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
October 10, 2019, the Company entered into a Joint Venture Agreement (the &#8220;BitSpeed Agreement&#8221;) with BitSpeed LLC, which
is owned by Douglas Davis, the Company&#8217;s Chief Executive Officer, to form GBT BitSpeed Corp., a Nevada company (&#8220;GBT BitSpeed&#8221;).
The purpose of GBT BitSpeed is to develop, maintain and support its proprietary Extreme Transfer Software Application Concurrency, a
software application to transfer secure, accelerated transmission of large file data over networks, and connection to cloud storage,
Network-Attached Storage (NAS) and Storage Area Networks (SANs) (&#8220;Concurrency&#8221;). BitSpeed shall contribute the services and
resources for the development of Concurrency to GBT BitSpeed. The Company shall contribute 10,000,000 shares of common stock (valued
at $17,900,000) of the Company to GBT BitSpeed. BitSpeed and the Company will each own 50% of GBT BitSpeed. The Company shall appoint
two directors and BitSpeed shall appoint one director of GBT BitSpeed. In addition, GBT BitSpeed and Mr. Davis entered into a Consulting
Agreement in which Mr. Davis is engaged to provide services for $10,000 per month payable quarterly which may be paid
in shares of common stock calculated by the amount owed divided by the Company&#8217;s 20-day VWAP. Mr. Davis will provide services in
connection with the development of the business as well as GBT BitSpeed&#8217;s capital raising efforts. The term of the Consulting Agreement
is two years. The closing of the BitSpeed Agreement occurred on October 14, 2019. On April 11, 2020, Douglas Davis resigned as Chief
Executive Officer of the Company so that he may fully devote all of his efforts to GBT Tokenize Corp., the Company&#8217;s joint venture,
which intends to develop a new product. Mr. Davis&#8217; resignation was not the result of any disagreements with management or board
of directors of the Company. On June 16, 2022 the parties amended the Bitspeed Agreement to further define the constitution of the Board
of Directors. As such, Section 4.2 of the Bitspeed Agreement was amended and restated to provide that the Board of GBT Bitspeed Corp.
shall consist of two Directors, one of whom shall be appointed by Bitspeed LLC and the other shall be appointed by the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
March 6, 2020, the Company through Greenwich, entered into the Tokenize Agreement with Tokenize, which is owned by a Costa Rica Trust
represented by Gonzalez. Gonzalez also represents Gonzalez Costa Rica Trust, which holds a note of $<span id="xdx_90B_ecustom--CommonStockContributed_c20200301__20200306__us-gaap--TypeOfArrangementAxis__custom--TokenizeAgreementMember__dei--LegalEntityAxis__custom--GreenwichMember_pdd" title="Common stock contributed"><ix:nonFraction name="gtch:CommonStockContributed" contextRef="From2020-03-012020-03-06_custom_TokenizeAgreementMember_custom_GreenwichMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">10,000,000</ix:nonFraction></span> and is also a shareholder
of the Company. Under the Tokenize Agreement, the parties formed GBT Tokenize. The purpose of GBT Tokenize is to develop Technology Portfolio,
throughout the State of California. Upon generating any revenue from the Technology Portfolio, the Joint Venture will earn the first
right of refusal for other territories. Tokenize shall contribute the services and resources for the development of the Technology Portfolio
to GBT Tokenize. The Company contributed <span id="xdx_900_ecustom--CommonStockContributed_c20200301__20200306__us-gaap--TypeOfArrangementAxis__custom--BitSpeedAgreementMember_pdd" title="Common stock contributed"><ix:nonFraction name="gtch:CommonStockContributed" contextRef="From2020-03-012020-03-06_custom_BitSpeedAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">100,000,000</ix:nonFraction></span> GBT Shares to GBT Tokenize. Tokenize and the Company will each own 50% of GBT Tokenize.
The Company pledged its 50% ownership in GBT Tokenize and its 100% ownership of Greenwich to Tokenize to secure its Technology Portfolio
investment. The Company shall appoint two directors and Tokenize shall appoint one director of GBT Tokenize. In addition, GBT Tokenize
and Gonzalez entered into a Consulting Agreement in which Gonzalez is engaged to provide services in consideration of $<span id="xdx_90D_ecustom--ConsiderationForServicesPayable_c20200301__20200306__us-gaap--TypeOfArrangementAxis__custom--TokenizeAgreementMember_pp0p0" title="Consideration for services payable"><ix:nonFraction name="gtch:ConsiderationForServicesPayable" contextRef="From2020-03-012020-03-06_custom_TokenizeAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">33,333</ix:nonFraction></span> per month
payable quarterly which may be paid in shares of common stock calculated by the amount owed divided by the Company&#8217;s 10-day VWAP.
Gonzalez will provide services in connection with the development of the business as well as GBT Tokenize&#8217;s capital raising efforts.
The term of the Consulting Agreement is two years. The closing of the Tokenize Agreement occurred on March 9, 2020. Via this Joint Venture
the parties commenced development of a development of an intelligent human vital signs&#8217; device, suggested named qTerm.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_23C_zn0hv0DftwFh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_23D_zzUOlpyink96" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><ix:exclude><p id="xdx_239_zTCaa2g1Aure" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_238_zbJqOs2YA0ki" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><p id="xdx_23C_zI7hwovpN0za" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zye0WKlqOkkk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>


<ix:exclude><p id="xdx_238_zEFkkTbx1OHg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The platform
is an expansion of the existing license agreement with GBT Tokenize Corp., which provided GBT Tokenize Corp. with an exclusive territory
of California to develop certain of the Company&#8217;s technology. As the nature of the platform cannot be restricted only to California,
the Company&#8217;s joint venture GBT Tokenize Corp. will be compensated with additional two hundred million shares of the Company to
strengthen its funding, subject to board approval. A provisional patent application for the qTerm Medical Device was filed on March 30,
2020 with the USPTO.&#160;The application has been assigned serial number 63001564. The Joint Venture completed successfully the first
prototype. There is no guarantee that the Company will be successful in researching, developing or implementing this product into the
market. In order to successfully implement this concept, the Company will need to raise adequate capital to support its research and,
if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic relationship
with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company
will be successful in any or all of these critical steps.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Magic
Agreement</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
explained above, on April 11, 2022 the Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation
(&#8220;Greenwich&#8221;), entered into a Master Joint Venture and Territorial License Agreement (the &#8220;Tokenize Agreement&#8221;)
with Magic International Argentina FC, S.L. (&#8220;Magic&#8221;) and Tokenize which replaced a prior joint venture entered between the
parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
purpose of Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile chip
technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking, IT services,
business process outsourcing development services, customer service, technical support and quality assurance for business, customizable
and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups (&#8220;Technology
Portfolio&#8221;), throughout the world, which Technology Portfolio was previously licensed to the Company for the State of California.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span id="xdx_907_ecustom--TokenizeAgreementDescription_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--TokenizeAgreementMember_zb6vkEGT6ygh" title="Tokenize agreement, description"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_TokenizeAgreementMember" name="gtch:TokenizeAgreementDescription">The
Tokenize Agreement provides that the Company shall contribute 150,000,000 shares of common stock of the Company (&#8220;GBT Shares&#8221;)
to Tokenize. Sergio Fridman is the manager of Magic and the beneficial owner of all outstanding securities of Magic. Magic will contribute
cash of $250,000 into Tokenize for promissory note and agreed to further fund Tokenize with all funds reasonably needed
for implementation of the business purposes as described in the Tokenize Agreement. The GBT Shares will not be transferable for a period
of five years.</ix:nonNumeric></span> As of June 30, 2022, the Company received the $<span id="xdx_906_eus-gaap--ProceedsFromRelatedPartyDebt_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--TokenizeAgreementMember_zo55LQKWoSbb" title="Proceeds from related party debt"><ix:nonFraction name="us-gaap:ProceedsFromRelatedPartyDebt" contextRef="From2022-01-012022-06-30_custom_TokenizeAgreementMember" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span> fund from Magic but the promissory note agreement has not been
finalized yet. Therefore, the Company recorded the $<span id="xdx_902_eus-gaap--AccountsPayableOtherCurrent_iI_c20220630_zUKerMJsVkVa" title="Account payable"><ix:nonFraction name="us-gaap:AccountsPayableOtherCurrent" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="0" unitRef="USD">250,000</ix:nonFraction></span> funds as an account payable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Magic
and the Company &#160;&#160;&#160;each own 50% of the outstanding shares of common stock of Tokenize. The Company pledged its 50% ownership
in Tokenize and its 100% ownership of Greenwich (the &#8220;Pledged Securities&#8221;) to Magic for providing that Magic may take possession
of such Pledged Securities in the event the Company executes, delivers and performs any future agreement or document or judgement resulting
in the creation of any lien, pledge, mortgage, claim, charge or encumbrance upon any assets of the Company. The Company shall appoint
two directors and Magic shall appoint one director of Tokenize.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
June 16, 2022 the parties amended the Tokenize Agreement to further define the constitution of the Board of Directors. As such, Section
4.2 of the Tokenize Agreement was amended and restated to provide that the Board of GBT Tokenize Corp. shall consist of two Directors,
one of whom shall be appointed by GBT Tokenize Corp. and the other shall be appointed by the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_23E_zzb1Gv9Nwh4g" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_23B_zBP044hm6tch" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_234_z123qq9ufw8h" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_235_z7MIHIkGuTJj" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_230_zs4qR48hsi97" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_234_znd4uo6VmMsb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Yello
Partners Inc.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
of June 30, 2022 and December 31, 2021 (audited), the Company owed $<span id="xdx_905_eus-gaap--DebtInstrumentFaceAmount_c20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--YelloPartnersIncMember_pp0p0" title="Principlal amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2022-06-30_custom_YelloPartnersIncMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">445,000</ix:nonFraction></span> and $<span id="xdx_906_eus-gaap--DebtInstrumentFaceAmount_c20211231__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--YelloPartnersIncMember_pp0p0" title="Principlal amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2021-12-31_custom_YelloPartnersIncMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">385,000</ix:nonFraction></span> to Yello Partners, Inc., a Company owned
by the Mansour Khatib, the Company&#8217;s CEO.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Stanley
Hills LLC Accounts Payable &#8211; Related Party</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
March 8, 2020, SURG filed a lawsuit against its transfer agent, Vstock from transferring millions of SURG stock is currently in possession
by the Company and assigned to Stanley Hills, LLC. On January 1, 2021, SURG, AltCorp and Stanley Hills, LLC (&#8220;Stanley&#8221;) entered
into a Mutual Release and Settlement Agreement (&#8220;Settlement Agreement&#8221;). Pursuant to the terms of the Settlement Agreement,
SURG agreed to amend the AltCorp Exchange Agreement where SURG acknowledged a debt of $<span id="xdx_900_eus-gaap--DebtCurrent_c20210102__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Debt"><ix:nonFraction name="us-gaap:DebtCurrent" contextRef="AsOf2021-01-02_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,300,000</ix:nonFraction></span> (the &#8220;Debt&#8221;) to be paid
in 33 monthly payments of $<span id="xdx_906_eus-gaap--DebtCurrent_c20210102__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" title="Debt"><ix:nonFraction name="us-gaap:DebtCurrent" contextRef="AsOf2021-01-02_custom_StanleyHillsLLCMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">100,000</ix:nonFraction></span> payable in shares of common stock of SURG at a per share price equal the volume weighted average price
of Surg&#8217;s common stock during the ten trading days immediately preceding the issuance. SURG paid $<span id="xdx_904_eus-gaap--Cash_c20210102__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-01-02_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">400,000</ix:nonFraction></span> in cash and $<span id="xdx_90E_eus-gaap--Cash_c20210102__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_pp0p0" title="Cash"><ix:nonFraction name="us-gaap:Cash" contextRef="AsOf2021-01-02_custom_StanleyHillsLLCMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">800,000</ix:nonFraction></span>
by shares. The SURG common stock issued to Altcorp have been pledged since August 12, 2020 for the benefit of Stanley to secure Stanley&#8217;s
note payable by the Company. Accordingly, the SURG Common Stock issued to AltCorp as a result of the Settlement Agreement were pledged
to Stanley. As of December 31, 2021 there were no surge shares pledges after the final settlement signed on December 22, 2021 and that
replaced all prior settlement agreement. The final settlement SURG agreed to make total payments of $<span id="xdx_90E_eus-gaap--RepaymentsOfDebt_c20220102__20220107__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--SURGMember_pp0p0" title="Repayment of debt"><ix:nonFraction name="us-gaap:RepaymentsOfDebt" contextRef="From2022-01-022022-01-07_custom_SURGMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,200,000</ix:nonFraction></span> to the Company on or prior
to January 7, 2022. <span id="xdx_903_eus-gaap--RelatedPartyTransactionDescriptionOfTransaction_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember" title="Related party, description"><ix:nonNumeric contextRef="From2022-01-012022-06-30_custom_StanleyHillsLLCMember" name="us-gaap:RelatedPartyTransactionDescriptionOfTransaction">This $4.2 million amount consists of $450,000 paid by SURG in November and December 2021, $100,000 to be paid on
or about January 4, 2022, and $3,650,000 to be paid on or prior to January 7, 2022 of which $375,000 will be held in escrow as described
before. The $3,750,000 was recorded as other receivable as of December 31, 2021. As of June 30, 2022 and December 31, 2021, the Company
has recorded an outstanding payable to Stanley of $317,174 and $1,862,928, respectively, recorded under accrued expenses.</ix:nonNumeric></span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

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<ix:exclude><p id="xdx_233_zySf75kmo5V6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_235_ztMx9Qa1eIjj" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_238_zO9sIqPLQIM9" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_239_z9tYyzLguBIk" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zqhsqQJmmf75" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Sales
to related party for the three months ended June 30, 2022 and 2021 were $<span id="xdx_905_eus-gaap--ProceedsFromSaleOfOtherAssets1_pp0p0_c20220401__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_zg6XiLIe0g6i" title="Sales amount"><ix:nonFraction name="us-gaap:ProceedsFromSaleOfOtherAssets1" contextRef="From2022-04-012022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span> and $<span id="xdx_902_eus-gaap--ProceedsFromSaleOfOtherAssets1_pp0p0_c20210401__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_zSBrxeGriipj" title="Sales amount"><ix:nonFraction name="us-gaap:ProceedsFromSaleOfOtherAssets1" contextRef="From2021-04-012021-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">45,000</ix:nonFraction></span> respectively. Sales are derived from providing
IT consulting services to Stanley Hills, a related party. The Company ceased providing IT services to Stanley during the quarter ended
June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Sales
to related party for the six months ended June 30, 2022 and 2021 were $<span id="xdx_900_eus-gaap--ProceedsFromSaleOfOtherAssets1_c20220101__20220630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Sales amount"><ix:nonFraction name="us-gaap:ProceedsFromSaleOfOtherAssets1" contextRef="From2022-01-012022-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">45,000</ix:nonFraction></span> and $<span id="xdx_90E_eus-gaap--ProceedsFromSaleOfOtherAssets1_c20210101__20210630__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__custom--StanleyHillsLLCMember_pp0p0" title="Sales amount"><ix:nonFraction name="us-gaap:ProceedsFromSaleOfOtherAssets1" contextRef="From2021-01-012021-06-30_custom_StanleyHillsLLCMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">90,000</ix:nonFraction></span> respectively. Sales are derived from providing
IT consulting services to Stanley Hills, a related party. The Company ceased providing IT services to Stanley during the second quarter
ended June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Advanced
from Related Party</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During
the three and six months ended June 30, 2022, Mansour Khatib, the Company&#8217;s CEO advanced $<span id="xdx_905_ecustom--AdvancedFromRelatedParty_pp0p0_c20220401__20220630_zc9VpY9PCH07" title="Advanced from related party"><ix:nonFraction name="gtch:AdvancedFromRelatedParty" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">154,117</ix:nonFraction></span> and $<span id="xdx_904_ecustom--AdvancedFromRelatedParty_c20220101__20220630_pp0p0" title="Advanced from related party"><ix:nonFraction name="gtch:AdvancedFromRelatedParty" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">575,516</ix:nonFraction></span> cash to the Company
for business use purpose to fund the Amazon operations, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During
the six months ended June 30, 2022, the Company repaid $<span id="xdx_90B_eus-gaap--ProceedsFromRepaymentsOfOtherDebt_c20220101__20220630_pp0p0" title="Repayment amount"><ix:nonFraction name="us-gaap:ProceedsFromRepaymentsOfOtherDebt" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">558,379</ix:nonFraction></span> cash back to Mansour Khatib.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
of June, 30, 2022 and December 31, 2021 (audited), the Company has recorded an outstanding payable balance to Mansour Khatib of
$<span id="xdx_904_ecustom--OutstandingPayableBalance_c20220101__20220630_pp0p0" title="Outstanding payable balance"><ix:nonFraction name="gtch:OutstandingPayableBalance" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">17,137</ix:nonFraction></span>
and $<span id="xdx_900_ecustom--OutstandingPayableBalance_c20210101__20211231_pp0p0" title="Outstanding payable balance"><ix:nonFraction name="gtch:OutstandingPayableBalance" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">0</ix:nonFraction></span>,
respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Metaverse
Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
June 10, 2022, the Company, entered into a Joint Venture and Territorial License Agreement (the &#8220;Metaverse Agreement&#8221;) with
Ildar Gainulin and Maria Belova (&#8220;IGMB&#8221;). Under the Metaverse Agreement, the parties formed Metaverse Kit Corp., a Nevada
corporation (&#8220;Metaverse Kit&#8221;). The purpose of Metaverse Kit is to develop, maintain and support source codes for its proprietary
technologies and comprehensive platform that combines a core virtual reality platform and an extended set of real-world functions to
provide a metaverse experience initially within the area of sports and then expanding into virtual worlds of entertainment, live events,
gaming, communications and other cross over product opportunities (the &#8220;Meta Portfolio&#8221;). Under the Metaverse Agreement,
IGMB agreed to provide Metaverse Kit with the licensed technology and expertise, as requested and mutually agreed to by Company and IGMB.
In connection therewith, the parties entered an Asset Purchase Agreement concurrently with the Metaverse Agreement whereby IGMB sold
Metaverse Kit all source codes pertaining to the Meta Portfolio. Further, IGMB provided an exclusive license to Metaverse Kit throughout
the world for the invented product/service and the related platforms relating to the Meta Portfolio and to use the know how to develop,
manufacture, sell, market and distribute the Meta Portfolio throughout the world The Company shall contribute <span id="xdx_90D_eus-gaap--SharesIssued_iI_c20220630__dei--LegalEntityAxis__custom--GBTMember_zAG3FjVTaPZ4" title="Shares issued"><ix:nonFraction name="us-gaap:SharesIssued" contextRef="AsOf2022-06-30_custom_GBTMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">500,000,000</ix:nonFraction></span> &#160;&#160;shares
of common stock of the Company (&#8220;GBT Shares&#8221;) to Metaverse Kit. IGBM and the Company will each own 50% of Metaverse Kit.
The Company pledged its 50% ownership in Metaverse Kit to Igor 1 Corp. to secure a convertible note held by Igor 1 Corp. The Company
shall appoint two directors and IGBM shall appoint one director of Metaverse Kit.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
addition, Metaverse Kit, IGMB and Elentina Group, LLC (&#8220;Elentina&#8221;) entered into a Consulting Agreements in which IGBM and
Elentina, each were engaged to provide services for $<span id="xdx_90E_eus-gaap--SaleOfStockNumberOfSharesIssuedInTransaction_c20220101__20220630__us-gaap--TypeOfArrangementAxis__custom--MetaverseAgreementMember_zD8Qm1uC1mA1" title="Sale of common stock"><ix:nonFraction name="us-gaap:SaleOfStockNumberOfSharesIssuedInTransaction" contextRef="From2022-01-012022-06-30_custom_MetaverseAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">25,000</ix:nonFraction></span> per month payable quarterly which may be paid in shares of common stock calculated
by the amount owed divided by the Company&#8217;s 10-day VWAP. IGBM and Elentina will provide services in connection with the development
of the business as well as Metaverse Kit&#8217;s capital raising efforts. The term of the Consulting Agreement is two years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
closing of the Metaverse Agreement occurred on June 13, 2022 and the Company recorded the share issuance at FV of $<span id="xdx_904_eus-gaap--SharesIssued_iI_c20220613__us-gaap--TypeOfArrangementAxis__custom--MetaverseAgreementMember_zzeBFWAFjKz5" title="Shares issued"><ix:nonFraction name="us-gaap:SharesIssued" contextRef="AsOf2022-06-13_custom_MetaverseAgreementMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">5,000</ix:nonFraction></span> on the
agreement date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">On
June 16, 2022 </span><span style="font: 10pt Times New Roman, Times, Serif">the parties amended the Meta Agreement
to further define the constitution of Meta Board of Directors. As such, Section 4.2 of the Meta Agreement was amended and restated to
provide that the Board of Metaverse Kit Corp. shall consist of two Directors, one of whom shall be appointed by Ildar Gainulin and Maria
Belova and the other shall be appointed by the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<ix:exclude><p id="xdx_237_z9tRRxEbIuq6" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_23A_zy3wwf2FQpd2" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p><ix:exclude><p id="xdx_239_zgNpYwcwbU42" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23A_zAzqY8PSvuIh" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zEOvgt6Qmrb5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Notes
to Condensed Consolidated Financial Statements</b>&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23A_zK19DQEE1iK1" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>


<ix:exclude><p id="xdx_233_zmMM67N6HgQb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:LossContingencyDisclosures"><p id="xdx_808_eus-gaap--LossContingencyDisclosures_z6CUEgV4TUw4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note
17 &#8211; <span id="xdx_827_z2TdxmWsous5">Contingencies</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Legal
Proceedings</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">From
time to time, the Company may be involved in various litigation matters, which arise in the ordinary course of business. There is currently
no litigation that management believes will have a material impact on the financial position of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
or around January 30, 2019, RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson sued the Company and multiple third and related
parties in Superior Court of the State of California &#8211; County of Los Angeles, General District in connection with the acquisition
of UGO in September 2017. The case number is 19STCV03320 (the &#8220;Original Lawsuit&#8221;). The complaint in the Original Lawsuit
alleges breach of contract, among other causes of action. The Company answered the complaint and filed a cross-complaint against the
plaintiffs in the case and third parties on or around February 15, 2019. On or about September 10, 2020, the Company through its agent
of service was &#8220;served&#8221; with a complaint (the Company contested service) that was recently filed against the Company and
third parties by Robert Warren Jackson and Gregory Bauer in Los Angeles Superior Court Case No.: 20STCV32709 (&#8220;Second Lawsuit&#8221;).
In the Original Lawsuit filed, the court rejected the plaintiff&#8217;s claims that they were filing a purported quasi-derivative lawsuit.
As such, in this current litigation, the plaintiff is now again claiming the action is a derivative lawsuit. On October 13, 2020, the
Second Lawsuit was removed by other defendants into Central District of California (CASE NO. 2:20&#8722;cv&#8722;09399&#8722;RGK&#8722;AGR).
On February 2, 2021 the Central District of California dismissed the entire Second Lawsuit based on &#8220;demand futility&#8221;. In
the Original lawsuit, the Company filed a cross complaint against the plaintiff and other third parties. Recently, the court has scheduled
various hearings and a trial date set for December 27, 2021 which was later continued by the Court to September 28, 2022. It was the
Company&#8217;s intention to dividend its holdings of its wholly owned subsidiary Ugopherservices Corp. (&#8220;UGO&#8221;). As UGO is
the main dispute in the litigations described above, the Company elected to sell UGO to a third-party effective July 1, 2020 (See Note
3). On September 17, 2020, the Company terminated Greg Bauer as consultant (resulting from the sale of UGO), which he confirmed in writing.
On or about June 14, 2021 the Company stipulated with plaintiff that all third parties will be released and plaintiff may file a new
first amendment complaint that will name only the Company. As such, all third parties other than prior transfer agent of the Company
have been dismissed from this litigation. The Company is in default on this note.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Following
the sale of UGO, the Company noticed third parties (including SURG, via its asset manager) to wire the UGO funds to its new bank account.
SURG never answered the notice. SURG is the clearing house for UGO. The Company noticed certain third parties that it intends to take
legal actions to resolve this issue. On November 12, 2020 the Company filed a complaint in the United States District Court &#8211; District
of Nevada &#8211; Case 2:20-cv-02078 against RWJ, Mr. Bauer, Mr. Jackson and against W.L. Petrey Wholesale Company Inc for fraud, breach
of contract, Unjust Enrichment and other claims. On January 28, 2022 the court awarded the Company an injunction against RWJ defendants,
where all fee funds generating from resale should be deposited into GBT blocked account, and therefore RWJ Defendants cannot use these
funds without court order.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_23D_zdTFwnPMmDGg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

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<ix:exclude><p id="xdx_23E_zNcYI4JoaPfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_232_zG2tW6IrnjIb" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_230_zzfh9unRuiHb" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_239_zoCkiF7sKRDf" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_230_zBSc3bfP8Ue7" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
December 3, 2018, the Company entered into a Securities Purchase Agreement (the &#8220;SPA&#8221;) with Discover Growth Fund, LLC
(the &#8220;Investor&#8221;) pursuant to which the Company issued a Senior Secured Redeemable Convertible Debenture (the
&#8220;Debenture&#8221;) of $<span id="xdx_909_eus-gaap--DebtInstrumentFaceAmount_c20181203__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredRedeemableConvertibleDebentureMember_pp0p0" title="Note payable, principal amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2018-12-03_custom_SecuritiesPurchaseAgreementMember_custom_SeniorSecuredRedeemableConvertibleDebentureMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">8,340,000</ix:nonFraction></span>.
In connection with the issuance of the Debenture and pursuant to the terms of the SPA, the Company issued a Common Stock Purchase
Warrant to acquire up to&#160;<span id="xdx_908_ecustom--WarrantsAquire_c20181203__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember__us-gaap--DebtInstrumentAxis__custom--SeniorSecuredRedeemableConvertibleDebentureMember_pdd" title="Warrants aquire"><ix:nonFraction name="gtch:WarrantsAquire" contextRef="AsOf2018-12-03_custom_SecuritiesPurchaseAgreementMember_custom_SeniorSecuredRedeemableConvertibleDebentureMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">225,000</ix:nonFraction></span>&#160;shares
of common stock for a term of three years (the &#8220;Warrant&#8221;) on a cash-only basis at an exercise price of $100 per share
with respect to 50,000 Warrant Shares, $75 with respect to 75,000 Warrant Shares and $50 with respect to 100,000 Warrant Shares. The
holder may not exercise any portion of the Warrants to the extent that the holder would own more than 4.99% of the Company&#8217;s
outstanding common stock immediately after exercise. The outstanding principal amount may be converted at any time into shares
of&#160;the Company&#8217;s&#160;common stock&#160;at a conversion price equal to 95% of the Market Price less $5 (the conversion
price is lowered by 10% upon the occurrence of each Triggering Event &#8211; the current conversion price is 75% of the Market Price
less $5). The Market Price is the average of the five lowest individual daily volume weighted average prices during the period the
Debenture is outstanding. On May 28, 2019, the Investor delivered to the Company a &#8220;Notice of Default and Notice of Sale of
Collateral&#8221; (the &#8220;Notice&#8221;). On December 23, 2019, in arbitration between the Company and the Investor, an Interim
Award was entered in favor of the Investor. On January 31, 2020, the Company was informed that a final award was entered (the
&#8220;Final Award&#8221;). The Final Award affirms that certain sections of the Debenture&#160;constitute unenforceable liquidated
damages penalties and were stricken. Further, it was determined that the Investor was entitled to recovery of their attorney&#8217;s
fees. Consequently, the arbitrator awarded $<span id="xdx_90C_ecustom--ArbitratorAwarded_pp0p0_c20190501__20190515__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zS3I9jqmRAef" title="Arbitrator awarded"><ix:nonFraction name="gtch:ArbitratorAwarded" contextRef="From2019-05-012019-05-15_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">4,034,444</ix:nonFraction></span>&#160;plus
interest of&#160;<span id="xdx_90A_eus-gaap--DebtInstrumentInterestRateDuringPeriod_dp_c20190501__20190515__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zUlOqVBaUA64" title="Interest rate"><ix:nonFraction name="us-gaap:DebtInstrumentInterestRateDuringPeriod" contextRef="From2019-05-012019-05-15_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="INF" scale="-2" unitRef="Pure">7.25</ix:nonFraction></span>%
from May 15, 2019 and costs of $<span id="xdx_904_eus-gaap--InterestExpenseOtherDomesticDeposits_pp0p0_c20190501__20190515__us-gaap--RelatedPartyTransactionsByRelatedPartyAxis__us-gaap--InvestorMember__us-gaap--TypeOfArrangementAxis__custom--SecuritiesPurchaseAgreementMember_zXG3pk9CWDf5" title="Interest"><ix:nonFraction name="us-gaap:InterestExpenseOtherDomesticDeposits" contextRef="From2019-05-012019-05-15_us-gaap_InvestorMember_custom_SecuritiesPurchaseAgreementMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">55,613</ix:nonFraction></span>.
On February 18, 2020, the Company filed a motion with the United States District Court District of Nevada (the &#8220;Nevada
Court&#8221;) to confirm the Final Award and a motion to consolidate Investor&#8217;s application to confirm the Final Award filed
in the U.S. District Court of the Virgin Islands (Case No: 3 :20-cv-00012-CVG-RM) (the &#8220;Virgin Island Court&#8221;). On
February 27, 2020, the Nevada Court denied the Company&#8217;s motion to confirm the Final Award and motion to consolidate and
further decided that the confirmation of the Final Award should be litigated in the Virgin Island Court. As such, on February 27,
2020, the Company filed a Notice of Entry of Order as well as a Motion to Confirm the Arbitration Award, address the outstanding
issues regarding whether Investor&#8217;s rights are subordinated to other creditors and, thereafter, oversee a commercially
reasonable foreclosure sale (Case No: 3 :20-cv-00012-CVG-RM). It was the Company&#8217;s position that the final Award must first be
confirmed and all questions regarding the rights of Investor relative to those of other creditors must be determined before any
foreclosure sale can proceed. It is further the position of the Company that the previously disclosed foreclosure sale scheduled by
Investor is being conducted in a commercially unreasonable manner and that if Discover proceeded forward with the foreclosure sale
it did so at its own risk. Nevertheless, on February 28, 2020, Investor advised that it conducted a sale of the Company&#8217;s
assets. As the date of this report Investor failed to present a deed of sale for the alleged sale that allegedly took place as
noticed. The Company filed with Virgin Island Court the motions disputing the validity of the alleged sale. On July 28, 2020,
Investor filed in the State of Nevada a motion for attorneys fees $<span id="xdx_90C_eus-gaap--LossContingencyDamagesSoughtValue_c20200701__20200728_pp0p0" title="Sought value"><ix:nonFraction name="us-gaap:LossContingencyDamagesSoughtValue" contextRef="From2020-07-012020-07-28" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">48,844</ix:nonFraction></span>&#160;and
cost of $<span id="xdx_908_ecustom--LegalCost_c20200701__20200728_pp0p0" title="Legal cost"><ix:nonFraction name="gtch:LegalCost" contextRef="From2020-07-012020-07-28" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">716</ix:nonFraction></span>.
The Company filed an answer on August 11, 2020.&#160;On October 16, 2020, Investor motion for attorneys fees $<span id="xdx_90C_eus-gaap--LossContingencyDamagesSoughtValue_c20201001__20201016_pp0p0" title="Sought value"><ix:nonFraction name="us-gaap:LossContingencyDamagesSoughtValue" contextRef="From2020-10-012020-10-16" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">48,844</ix:nonFraction></span>&#160;and
cost of $<span id="xdx_904_ecustom--LegalCost_c20201001__20201016_pp0p0" title="Legal cost"><ix:nonFraction name="gtch:LegalCost" contextRef="From2020-10-012020-10-16" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">716</ix:nonFraction></span>&#160;was
denied. The balance was included in accounts payable for the unearned settlement. As of June 30, 2022, this case is still pending
with the Federal court and the Court has not taken any substantive action in the matter as of the date of this report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

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<ix:exclude><p id="xdx_234_zbDQV21zTGg3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23F_zYbH63FZCTIj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zAiPbJCioHP8" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_238_z42NUZvcWIr4" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>GBT
Technologies, S.A.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
September 14, 2018, the Company entered into an Exclusive Intellectual Property License and Royalty Agreement (the &#8220;GBT License
Agreement&#8221;) with GBT-CR, a fully compliance and regulated&#160;&#160;&#160; crypto currency exchange platform that currently operates
in Costa Rica as a decentralized crypto currency platform, pursuant to which, among other things, the Company granted to GBT-CR an exclusive,
royalty-bearing right and license relating intellectual property relating to systems and methods of converting electronic transmissions
into digital currency as reflected in that certain patent filed with the United Stated Patent and Trademark Office on or about June 14,
2018 (EFS ID: 32893586; Application Number: 16008069; Type: Utility under 35 USC 111(a); Confirmation Number: 6787)(collectively, the
&#8220;Digital Currently Technology&#8221;). Pursuant to the GBT License Agreement, the Company granted GBT-CR an exclusive worldwide
license to use the Digital Currency Technology to make, use, sell, lease or otherwise commercialize and dispose of products and devices
utilizing the Digital Currently Technology. Under the terms of the GBT License Agreement, the Company is entitled to receive a royalty
of 2% of gross revenue of each licensed product sold by GBT-CR during the period starting in which revenue is first generated using the
licensed products and continuing for five years thereafter. Upon signing the GBT-CR License Agreement, GBT-CR paid the Company $<span id="xdx_90E_eus-gaap--Revenues_c20180101__20181231__dei--LegalEntityAxis__custom--GBTTechnologiesMember_pp0p0" title="Revenues"><ix:nonFraction name="us-gaap:Revenues" contextRef="From2018-01-012018-12-31_custom_GBTTechnologiesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">300,000</ix:nonFraction></span>
which is nonrefundable. The Company has recognized the $300,000&#160;as revenue during the year ended December 31, 2018. Upon GBT-CR
making available for sale (the &#8220;Commercial Event&#8221;) an ICO (Initial Coin Offering) (the &#8220;Coin&#8221;), GBT-CR will make
a payment to the Company of $<span id="xdx_901_ecustom--PaymentForExpenses_c20180101__20181231__dei--LegalEntityAxis__custom--GBTTechnologiesMember_pp0p0" title="Payment for expenses"><ix:nonFraction name="gtch:PaymentForExpenses" contextRef="From2018-01-012018-12-31_custom_GBTTechnologiesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,000,000</ix:nonFraction></span>. Further, upon the Commercial Event, GBT-CR will grant the Company the ability to acquire 30%
of the Coin at a 30% discount of such offering price of the Coin. The GBT License Agreement commenced as of the signing date and, unless
terminated in accordance with the termination provisions of the GBT License Agreement, shall remain in force until the expiration of
the patent pertaining to the Digital Currency Technology; provided that the right to use trade, secrets shall survive the expiration
of the GBT License Agreement provided the Company has not terminated. Prior to the signing of the GBT License Agreement, GBT-CR advanced
$<span id="xdx_904_eus-gaap--DeferredRevenue_c20220630__dei--LegalEntityAxis__custom--GBTTechnologiesMember_pp0p0" title="Unearned revenue"><ix:nonFraction name="us-gaap:DeferredRevenue" contextRef="AsOf2022-06-30_custom_GBTTechnologiesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">200,000</ix:nonFraction></span>&#160;to the Company, which the parties agreed will be applied toward the $5,000,000 fee when it becomes due. On February 27,
2020 GBT Technologies, S.A., as successor in interest to Hermes Roll, LLC had notified the Company that it was in default on its Amended
and Restated Territorial License Agreement (&#8220;ARTLA&#8221;) dated June 15, 2015 and that the ARTLA had been cancelled and rescinded.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
connection with SURG Exchange Agreement &#8211; On November 4, 2020, Altcorp and Stanley filed an Ex Parte Motion in the District Court,
Clark County, Nevada (Case No: A-20-823039-B, in Dep No: 43) to appoint a receiver and issue a temporary restraining Order against SURG
and its transfer agent for alleged defaults on prior exchange agreement. On December 4, 2020, the parties entered an interim agreement
which set the material terms of the settlement. A final settlement was achieved on January 1, 2021. On March 4, 2021 the Company filed
a motion to enforce settlement agreements, as the Company alleged that SURG owes an additional $240,000 which is due and owing under
the settlement agreements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
June 24, 2021 per the June 23, 2020 Agreement, the Company together with AltCorp sent SURG and its transfer agent via registered mail,
a true-up shares demand for an additional <span id="xdx_90C_eus-gaap--StockIssuedDuringPeriodSharesNewIssues_c20210603__20210624__us-gaap--StatementEquityComponentsAxis__custom--SURGSharesMember_pdd" title="Additional shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesNewIssues" contextRef="From2021-06-032021-06-24_custom_SURGSharesMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">14,870,370</ix:nonFraction></span> SURG shares as calculated per the Agreement. As of the filing date of this report,
SURG&#8217;s transfer agent did not answer the Company&#8217;s request.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Subsequently,
SURG was a party to two lawsuits in state District Court, the Eighth Judicial District Court for Clark County, Nevada involving AltCorp,
Stanley and Glen Eagles Acquisition LP (the &#8220;AltCorp Parties.&#8221;). Each of these lawsuits were ultimately disputes relating
to the total consideration SURG was to pay the Company under the APA.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
October 18, 2021, the AltCorp Parties, the Company, and SURG entered into a Memorandum of Understanding (the &#8220;MOU&#8221;) to set
up a framework for an attempt to settle the two lawsuits.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<ix:exclude><p id="xdx_234_zOPybKXhRdS3" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_23D_zvzFRWFbrZf7" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_237_zTwbiDXZtNfe" style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_23A_z8Pb7nEwPlBd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_238_zyVr1iGCKBjb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
December 22, 2021 (the &#8220;Effective Date&#8221;), pursuant to the framework in the MOU, the AltCorp Parties (and an additional third
party), the Company, ECS, and SURG, Kevin Brian Cox (SURG&#8217;s Chief Executive Officer) &#8211; in his individual capacity, entered
into a Resolution of Purchase, Mutual Release, and Settlement Agreement (the &#8220;Final Settlement Agreement&#8221;) to settle the
two lawsuits and resolve all disputes related to the consideration paid by SURG to the Company in connection with the APA.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
or about July 9, 2021 the Company filed a lawsuit in District Court in Clack County Nevada &#8211; Department 19 (Case number A-21-837631-C)
against Terry Taylor and TTSG Holdings, Inc for breach of contract, breach of covenant of Good Faith and Fair Dealing, Unjust Enrichment
and declaratory relief for failure of providing consulting services per contract they entered. The Company is demanding the return of
<span id="xdx_909_ecustom--ReturnOfSharesIssued_c20210702__20210709_pdd" title="Return of shares issued"><ix:nonFraction name="gtch:ReturnOfSharesIssued" contextRef="From2021-07-022021-07-09" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">12,000,000</ix:nonFraction></span> shares issued, return of the $<span id="xdx_901_ecustom--CancellationOfPayments_c20210702__20210709_pp0p0" title="Cancellation of payments"><ix:nonFraction name="gtch:CancellationOfPayments" contextRef="From2021-07-022021-07-09" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">5,000</ix:nonFraction></span> payments, recission of the consulting agreement, and attorney&#8217;s fees and costs.
The lawsuit is still pending as of the date of this report. As Terry Taylor and TTSG Holdings failed to appear to a notice of deposition,
the Company filed for a summary judgment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Gregory
Mancuso and Rainer AG</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
or about February 2, 2022, GBT was served with a First Amended Complaint (the &#8220;Complaint&#8221;) initiated by Gregory Mancuso and
Rainer AG, a Swiss corporation, Case No. 21SMCV01430, filed in the Superior Court of the State of California for the County of Los Angeles.
The Complaint names a number of different parties, including GBT, and asserts, among other things, claims for conversion, unjust enrichment,
breach of contract, and breach of implied covenant of fair dealing, which Plaintiffs allege arise out of a brokerage agreement entered
into between Plaintiff Rainer AG and co-defendant Consul Group re Dos Mil Veintiuno S.R.L (&#8220;Consul&#8221;). GBT was sued under
an alter ego theory of liability, and its only involvement in the above-referenced chain of events seems to be that its shares were deposited
with Rainer by Consul upon the opening of the brokerage account. GBT will be filling &#160;&#160;&#160;a demurrer to the First Amended
Complaint based on a variety of deficiencies with the First Amended Complaint, and will ask the Court to dismiss the claims against GBT.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Stock
Loan Receivable</i>&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
January 8, 2019, the Company entered into a Stock Pledge Agreement with Latin American Exchange Latinex Casa de Cambio, S.A., a Costa
Rica corporation (&#8220;Latinex&#8221;), to provide that Latinex may maintain its required regulatory capital as required by various
regulators. The Company pledged&#160;<span id="xdx_904_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20190101__20190108_zUhzxH9kYuO4" title="Restricted shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross" contextRef="From2019-01-012019-01-08" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,005</ix:nonFraction></span>&#160;restricted shares of its common stock valued at $<span id="xdx_90E_eus-gaap--StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures_c20190101__20190108_zYWHC8ZOEKaf" title="Value of restricted shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures" contextRef="From2019-01-012019-01-08" format="ixt:numdotdecimal" decimals="0" unitRef="USD">7,610,147</ix:nonFraction></span>&#160;(based on the closing
price on the grant date) for three years in consideration of an annual payment of $<span id="xdx_905_ecustom--AnnualPayment_iI_c20190801_zfkx5owZ1zNa" title="Annual payment"><ix:nonFraction name="gtch:AnnualPayment" contextRef="AsOf2019-08-01" format="ixt:numdotdecimal" decimals="0" unitRef="USD">375,000</ix:nonFraction></span> paid in quarterly installments of $<span id="xdx_903_eus-gaap--DebtInstrumentPeriodicPayment_c20190101__20190108_zZvsGnEr5Ivh" title="Installment paid"><ix:nonFraction name="us-gaap:DebtInstrumentPeriodicPayment" contextRef="From2019-01-012019-01-08" format="ixt:numdotdecimal" decimals="0" unitRef="USD">93,750</ix:nonFraction></span>.
In lieu of cash payment, Latinex may pay the Company in virtual currency of WISE Network S.A. valued at a 50% discount of its offering
price of $10 per token. In the event that Latinex&#8217;s required capital has decreased below $<span id="xdx_90A_ecustom--DecreaseInCapital_c20190101__20190108_zGonECjp30d3" title="Decrease in capital"><ix:nonFraction name="gtch:DecreaseInCapital" contextRef="From2019-01-012019-01-08" format="ixt:numdotdecimal" decimals="0" unitRef="USD">5,000,000</ix:nonFraction></span>, Latinex is permitted to sell
the pledged shares of common stock only in an amount to ensure that Latinex can satisfy the required capital levels. The Company must
consent to such sale of the shares of common stock, which may not be unreasonably withheld. Upon expiration of the agreement, the remaining
shares of common stock shall be returned to the Company free and clear of all liens. The Company recorded the value of these shares of
common stock as a stock loan receivable which is presented as a contra-equity account in the accompanying consolidated balance sheets.
At December 31, 2019, the Company wrote off the accrued interest income as Latinex did not perform any payment and the Company has no
mean to enforce this payment. Latinex agreed in principle to return the pledged 4,005 restricted &#160;&#160;shares to the Company for
cancellation. The <span id="xdx_906_eus-gaap--StockIssuedDuringPeriodSharesRestrictedStockAwardGross_c20210101__20211231_zfpa1WRA7V96" title="Restricted shares"><ix:nonFraction name="us-gaap:StockIssuedDuringPeriodSharesRestrictedStockAwardGross" contextRef="From2021-01-012021-12-31" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">4,005</ix:nonFraction></span> restricted shares have not yet been returned to the Company as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i><span style="text-decoration: underline">Assignment
of lease agreement</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
May 17, 2022, Mahaser LLC (&#8220;Assignee&#8221;) entered into an assignment and assumption of lease agreement by and between 2819 Coldwater
LLC (&#8220;Assignor&#8221;), Sunset Place Holdings LLC (&#8220;Lessor&#8221;) and Yossi Attia (&#8220;Guarantor&#8221;). Pursuant to
the agreement, Lessor agreed to lease to Assignor certain Standard Industrial/Commercial Multi-Tenant Lease &#8211; Gross agreement dated
February 7, 2022 (the &#8220;Lease&#8221;) and expiring on January 31, 2024, which premises commonly known as 8265 Sunset Boulevard,
Suite #107, West Hollywood, CA 90046. The base rent payment shall equal $4,100 per month and share of common area operating expense shall
equal $<span id="xdx_901_eus-gaap--OperatingExpenses_c20220501__20220517_zZIvr7SY9fa1" title="Operating expense"><ix:nonFraction name="us-gaap:OperatingExpenses" contextRef="From2022-05-012022-05-17" format="ixt:numdotdecimal" decimals="0" unitRef="USD">200</ix:nonFraction></span> per month. Guarantor has guaranteed payment of Assignor&#8217;s obligations under the Lease and Assignor assigned all of its
right, title and interest in the Lease to Assignee and Assignee assumed Assignor&#8217;s obligations under the Lease.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<ix:exclude><p id="xdx_237_zYBiY8Ve51Ga" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p></ix:exclude>

<ix:exclude><!-- Field: Page; Sequence: 39; Value: 1 -->
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    <div id="xdx_233_z1S7uDcVfKV5" style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
    <!-- Field: /Page --></ix:exclude>

<ix:exclude><p id="xdx_234_zLdEiHIbcUe5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

<ix:exclude><p id="xdx_234_zBp2u8cZr4Wg" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>GBT
Technologies, Inc.</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_236_zfTou0Ip7KIb" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Notes
to Condensed Consolidated Financial Statements</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_233_zmamhfaAvTwd" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2022 and 2021 (Unaudited)</b></span></p></ix:exclude>

<ix:exclude><p id="xdx_239_zZEKCo5VBxU" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p></ix:exclude>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:ConcentrationRiskDisclosureTextBlock"><p id="xdx_806_eus-gaap--ConcentrationRiskDisclosureTextBlock_zn9MMLssU7Ci" style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note
18 &#8211; <span id="xdx_82C_znQIjaxgHDRi">Concentrations</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Concentration
of Credit Risk</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Financial
instruments, which potentially subject the Company to a concentration of credit risk, consist principally of temporary cash investments.
There have been no losses in these accounts through June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Customers</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the three months ended June 30, 2022, our Company earned net revenues of $<span id="xdx_90C_eus-gaap--RevenuesNetOfInterestExpense_pp0p0_c20220401__20220630__us-gaap--ConcentrationRiskByTypeAxis__custom--CustomersMember_zkNpf1Qz8cD5" title="Net revenues"><ix:nonFraction name="us-gaap:RevenuesNetOfInterestExpense" contextRef="From2022-04-012022-06-30_custom_CustomersMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">344,981</ix:nonFraction></span>. $<span id="xdx_901_ecustom--SalesAmount_pp0p0_c20220401__20220630__srt--ProductOrServiceAxis__custom--ConsultingServicesMember_zpBXxSQTcted" title="Sales amount"><ix:nonFraction name="gtch:SalesAmount" contextRef="From2022-04-012022-06-30_custom_ConsultingServicesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,381</ix:nonFraction></span> of Sales derived from eBay, and $<span id="xdx_90F_ecustom--SalesAmount_pp0p0_c20220401__20220630_za0C7bgThc49" title="Sales amount"><ix:nonFraction name="gtch:SalesAmount" contextRef="From2022-04-012022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">341,600</ix:nonFraction></span> of
sales were derived from Amazon sales.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the six months ended June 30, 2022, our Company earned net revenues of $<span id="xdx_906_eus-gaap--RevenuesNetOfInterestExpense_pp0p0_c20220101__20220630__us-gaap--ConcentrationRiskByTypeAxis__custom--CustomersMember_zFZo8MlHpjDe" title="Net revenues"><ix:nonFraction name="us-gaap:RevenuesNetOfInterestExpense" contextRef="From2022-01-012022-06-30_custom_CustomersMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">614,951</ix:nonFraction></span>. $<span id="xdx_906_ecustom--SalesAmount_pp0p0_c20220101__20220630__srt--ProductOrServiceAxis__custom--ConsultingServicesMember_zcGRJqH62lcc" title="Sales amount"><ix:nonFraction name="gtch:SalesAmount" contextRef="From2022-01-012022-06-30_custom_ConsultingServicesMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">45,000</ix:nonFraction></span> sales were derived from providing IT consulting
services to a related party and $<span id="xdx_903_ecustom--SalesAmount_c20220101__20220630_pp0p0" title="Sales amount"><ix:nonFraction name="gtch:SalesAmount" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">569,951</ix:nonFraction></span> sales were derived from e-commerce sales. The IT consulting service was terminated during the
quarter ended June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:IncomeTaxDisclosureTextBlock"><p id="xdx_80A_eus-gaap--IncomeTaxDisclosureTextBlock_z2M1a8POgSCj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note
19 &#8211; <span id="xdx_827_z1Hh3vGgJrhc">Income Taxes</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">No
income tax expense reflected in the consolidated statements of operations for the six months ended June 30, 2022 and 2021. The Company has
a $<span id="xdx_90E_eus-gaap--NetIncomeLoss_c20220101__20220630_pp0p0" title="Net income"><ix:nonFraction name="us-gaap:NetIncomeLoss" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">485,102</ix:nonFraction></span> net income during the six months ended June 30, 2022 but it was mainly from the gain of change in fair value in derivative
of $<span id="xdx_905_ecustom--FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss1_c20220101__20220630_pp0p0" title="Gain of change in fair value in derivative"><ix:nonFraction name="gtch:FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss1" contextRef="From2022-01-01to2022-06-30" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">3,150,739</ix:nonFraction></span> and it is a non-taxable event so would have a taxable loss, and continue to record a valuation allowance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><ix:nonNumeric contextRef="From2022-01-01to2022-06-30" escape="true" name="us-gaap:SubsequentEventsTextBlock"><p id="xdx_80D_eus-gaap--SubsequentEventsTextBlock_z8eUDx4wOXqj" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Note
20 &#8211; <span id="xdx_823_zgNep6ErKxJj">Subsequent Events</span></b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Management
has evaluated events that occurred subsequent to the end of the reporting period shown herein:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
July 7, 2022 the Company filed a preliminary information statement to the stockholders of record (the &#8220;Record Date&#8221;) in connection
with certain actions to be taken by the written consent by stockholders holding a majority of the voting stock of the Company, dated
as of June 28, 2022. The actions to be taken pursuant to the written consent shall be taken on or about mid-August 2022, 20 days after
the mailing of this information statement.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
following actions will be taken pursuant to a written consent of stockholders holding a majority of the issued and outstanding voting
shares of the Company dated June 28, 2022, in lieu of a special meeting of the stockholders. Such actions will be taken on or about mid-August,
2022:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">To amend the Company&#8217;s
    Articles of Incorporation, (the &#8220;Articles of Incorporation&#8221;) to increase the number of authorized shares of common stock,
    par value $<span id="xdx_90C_eus-gaap--CommonStockParOrStatedValuePerShare_iI_c20220630_zeYUqyTRBh6c" title="Common Stock, Par or Stated Value Per Share"><ix:nonFraction name="us-gaap:CommonStockParOrStatedValuePerShare" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="USDPShares">0.00001</ix:nonFraction></span> per share (the &#8220;Common Stock&#8221;), of the Company from <span id="xdx_903_eus-gaap--CommonStockSharesAuthorized_iI_c20220630_zreeajbUO0Zh" title="Common Stock, Shares Authorized"><ix:nonFraction name="us-gaap:CommonStockSharesAuthorized" contextRef="AsOf2022-06-30" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">2,000,000,000</ix:nonFraction></span> shares to 10,000,000,000 shares.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.75in; text-align: justify; text-indent: -0.25in"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 48px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">(i) authorize the Company&#8217;s
    Board of Directors to effect, in its sole discretion, a reverse stock split of the Common Stock in a ratio of up to 1-for-500 (the
    &#8220;Reverse Stock Split&#8221;), and (ii) authorize the filing of an amendment to the Company&#8217;s Articles of Incorporation
    to implement the Reverse Stock Split and any other action deemed necessary to effectuate the Reverse Stock Split, without further
    approval or authorization of stockholders, at any time prior to December 31, 2023.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">A
DEFINITIVE INFORMATION STATEMENT WAS MAILED TO ALL SHAREHOLDERS OF RECORDS ON JULY 21, 2022</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Subsequent
common stock issuance </span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Subsequent
to June 30, 2022, there were multiple note holders elected to convert $<span id="xdx_903_eus-gaap--DebtInstrumentFaceAmount_c20220630__us-gaap--DebtInstrumentAxis__custom--NoteHoldersMember_pp0p0" title="Principal amount"><ix:nonFraction name="us-gaap:DebtInstrumentFaceAmount" contextRef="AsOf2022-06-30_custom_NoteHoldersMember" format="ixt:numdotdecimal" decimals="0" scale="0" unitRef="USD">198,900</ix:nonFraction></span> principal amount into <span id="xdx_905_eus-gaap--SharesIssued_iI_c20220630__us-gaap--DebtInstrumentAxis__custom--NoteHoldersMember__us-gaap--StatementEquityComponentsAxis__us-gaap--CommonStockMember_zCKS9tsKPJri" title="Issuance of shares"><ix:nonFraction name="us-gaap:SharesIssued" contextRef="AsOf2022-06-30_custom_NoteHoldersMember_us-gaap_CommonStockMember" format="ixt:numdotdecimal" decimals="INF" unitRef="Shares">150,000,000</ix:nonFraction></span> shares of the Company&#8217;s
common stock.&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

</ix:nonNumeric><p id="xdx_81A_zpaOrayZk4x5" style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_007"></span>ITEM
2. MANAGEMENT&#8217;S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
following discussion should be read in conjunction with our financial statements and related notes included elsewhere in this report.
In addition to historical information, this discussion includes forward-looking information that involves risks and assumptions, which
could cause actual results to differ materially from management&#8217;s expectations. See &#8220;Forward-Looking Statements&#8221; included
in this report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Forward-Looking
Statements</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">This
Quarterly Report on Form 10-Q contains forward looking statements, including without limitation, statements related to our plans, strategies,
objectives, expectations, intentions and adequacy of resources. Investors are cautioned that such forward-looking statements involve
risks and uncertainties including without limitation the following: (i) our plans, strategies, objectives, expectations and intentions
are subject to change at any time at our discretion; (ii) our plans and results of operations will be affected by our ability to manage
growth; and (iii) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
some cases, you can identify forward-looking statements by terminology such as &#8216;&#8216;may,&#8217;&#8217; &#8216;&#8216;will,&#8217;&#8217;
&#8216;&#8216;should,&#8217;&#8217; &#8216;&#8216;could,&#8217;&#8217; &#8216;&#8216;expects,&#8217;&#8217; &#8216;&#8216;plans,&#8217;&#8217;
&#8216;&#8216;intends,&#8217;&#8217; &#8216;&#8216;anticipates,&#8217;&#8217; &#8216;&#8216;believes,&#8217;&#8217; &#8216;&#8216;estimates,&#8217;&#8217;
&#8216;&#8216;predicts,&#8217;&#8217; &#8216;&#8216;potential,&#8217;&#8217; or &#8216;&#8216;continue&#8217;&#8217; or the negative
of such terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other
person assumes responsibility for the accuracy and completeness of such statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date hereof. We are under no duty to update any of the forward-looking
statements after the date of this Report.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">This
section of the report should be read together with Footnotes of the Company audited financials for the year ended December 31, 2021,
the unaudited statements of operations for the three ended June 30, 2022 and 2021 are compared in the sections below.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>General
Overview</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">GBT
Technologies Inc. (the &#8220;Company&#8221;, &#8220;GBT&#8221;, or &#8220;GTCH&#8221;) was incorporated on July 22, 2009 under the laws
of the State of Nevada. The Company is targeting growing markets such as development of Internet of Things (IoT) and Artificial Intelligence
(AI) enabled networking and tracking technologies, including wireless mesh network technology platform and fixed solutions, development
of an intelligent human body vitals device, asset-tracking IoT, and wireless mesh networks. The Company derived revenues from (i) the
provision of IT&#160;consulting services; and (ii) from selling electronic products through e-commerce platforms like Amazon and eBay.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>GBT
Tokenize Joint Venture (totally Impaired in 2021)</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
March 6, 2020, the Company through Greenwich, entered into a Joint Venture and Territorial License Agreement (the &#8220;Tokenize Agreement&#8221;)
with Tokenize-It, S.A. (&#8220;Tokenize&#8221;), which is owned by a Costa Rica Trust represented by Pablo Gonzalez (&#8220;Gonzalez&#8221;).
Gonzalez also represents Gonzalez Costa Rica Trust, which holds a note in the principal amount of $10,000,000 and is also a shareholder
of the Company. Under the Tokenize Agreement, the parties formed GBT Tokenize Corp., a Nevada corporation (&#8220;GBT Tokenize&#8221;).
The purpose of GBT Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile
chip technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking,
IT services, business process outsourcing development services, customer service, technical support and quality assurance for business,
customizable and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups
(&#8220;Technology Portfolio&#8221;), throughout the State of California. Upon generating any revenue from the Technology Portfolio,
the Joint Venture will earn the first right of refusal for other territories. The Company pledged its 50% ownership in GBT Tokenize and
its 100% ownership of Greenwich to Tokenize to secure its Technology Portfolio investment. The Company shall appoint two directors and
Tokenize shall appoint one director of GBT Tokenize. Tokenize shall contribute the services and resources for the development of the
Technology Portfolio to GBT Tokenize. The Company shall contribute 2,000,000 shares of common stock of the Company (&#8220;GBT Shares&#8221;)
to GBT Tokenize. Tokenize and the Company will each own 50% of GBT Tokenize. The shares were valued at $5,500,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
addition, GBT Tokenize and Gonzalez entered into a Consulting Agreement in which Gonzalez is engaged to provide services for $33,333
per month payable quarterly which may be paid in shares of common stock calculated by the amount owed divided by the Company&#8217;s
10-day VWAP. Gonzalez will provide services in connection with the development of the business as well as GBT Tokenize&#8217;s capital
raising efforts. The term of the Consulting Agreement is two years. During the year ended December 31, 2021, Gonzalez assigned all his
accrued balances of $424,731 to Stanley Hills in a private transaction that the Company is not part to. The closing of the Tokenize Agreement
occurred on March 9, 2020.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Through
this Joint Venture the parties commenced development of an intelligent human vital signs&#8217; device, which we currently refer to as
the qTerm. The platform is an expansion of the existing license agreement with GBT Tokenize Corp., which provided GBT Tokenize Corp.
with an exclusive territory of California to develop certain of the Company&#8217;s technology. As the nature of the platform cannot
be restricted only to California, the Company&#8217;s joint venture GBT Tokenize Corp. will be compensated with additional two hundred
million shares of the Company to strengthen its funding, subject to board approval. A provisional patent application for the qTerm Medical
Device was filed on March 30, 2020 with the USPTO.&#160;The application has been assigned serial number 63001564. The Joint Venture completed
successfully the first prototype. There is no guarantee that the Company will be successful in researching, developing or implementing
this product into the market. In order to successfully implement this concept, the Company will need to raise adequate capital to support
its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic
relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that
the Company will be successful in any or all of these critical steps.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
May 28, 2021, the parties agreed to amend the Tokenize Agreement to expand territory granted for the Technology Portfolio under the license
to GBT Tokenize to include the entire continental United States. The Company has further agreed to issue GBT Tokenize an additional 14,000,000
shares of common stock of the Company. The shares were valued at $15,400,000. At March 31, 2020, the Company evaluated the carrying amount
of this joint venture investment and determined it was fully impaired and recorded an impairment charge of $5,500,000 was taken. At December
31, 2021, the Company evaluated the carrying amount of this joint venture investment and determined that this investment was fully impaired
and as a result an impairment charge of $15,400,000. Although the investment was impaired, the product development is still ongoing.
The carrying amount of this investment at June 30, 2022 and December 2021, was $0 and $0, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><span style="text-decoration: underline">Magic
Agreement</span></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
explained above, on April 11, 2022 the Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation
(&#8220;Greenwich&#8221;), entered into a Master Joint Venture and Territorial License Agreement (the &#8220;Tokenize Agreement&#8221;)
with Magic International Argentina FC, S.L. (&#8220;Magic&#8221;) and Tokenize which replaced a prior joint venture entered between the
parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
purpose of Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile chip
technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking, IT services,
business process outsourcing development services, customer service, technical support and quality assurance for business, customizable
and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups (&#8220;Technology
Portfolio&#8221;), throughout the world, which Technology Portfolio was previously licensed to the Company for the State of California.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Tokenize Agreement provides that the Company shall contribute 150,000,000 shares of common stock of the Company (&#8220;GBT Shares&#8221;)
to Tokenize. Sergio Fridman is the manager of Magic and the beneficial owner of all outstanding securities of Magic. Magic will contribute
cash of $250,000 into Tokenize in consideration of a promissory note and agreed to further fund Tokenize with all funds reasonably needed
for implementation of the business purposes as described in the Tokenize Agreement. The GBT Shares will not be transferable for a period
of five years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Magic
and the Company each own 50% of the outstanding shares of common stock of Tokenize. The Company pledged its 50% ownership in Tokenize
and its 100% ownership of Greenwich (the &#8220;Pledged Securities&#8221;) to Magic for providing that Magic may take possession of such
Pledged Securities in the event the Company executes, delivers and performs any future agreement or document or judgement resulting in
the creation of any lien, pledge, mortgage, claim, charge or encumbrance upon any assets of the Company. The Company shall appoint two
directors and Magic shall appoint one director of Tokenize.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
June 16, 2022 the parties amended the Tokenize Agreement to further define the constitution of the Board of Directors. As such, Section
4.2 of the Tokenize Agreement was amended and restated to provide that the Board of GBT Tokenize Corp. shall consist of two Directors,
one of whom shall be appointed by GBT Tokenize Corp. and the other shall be appointed by the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">GTX
Agreement</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
April 12, 2022, GBT Tokenize Corp (&#8220;Tokenize&#8221;), a Nevada corporation which the Company owns 50% of the outstanding shares
of common stock, entered into a series of agreements with GTX Corp (&#8220;GTX&#8221;) and various note holders of GTX pursuant to which
Tokenize acquire convertible promissory notes of GTX in the principal amount of $100,000 (the &#8220;GTX Notes&#8221;). In addition,
Tokenize acquired 5,000,000 shares of common stock of GTX for a purchase price of $150,000.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
GTX Notes bear 10% interest and 50% of the principal may be converted into shares of common stock on a one-time basis&#160;&#160; at
$0.01 per share. The remaining 50% of the principal must be paid in cash.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
closing occurred on April 12, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Revenue
Sharing Agreement &#8211; Variable Interest Entity (VIE)</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement (&#8220;RSA&#8221;) with Mahaser LTD.
(&#8220;Mahaser&#8221;) pursuant to which the Company acquired the opportunity to share in revenues generated by Mahaser with respect
to e-commerce sales through the online retail platform in the United States of America. Mahaser owns an e-commerce platform as a store
which is the legal, exclusive owner of Ravenholm Electronics. The Company will operate the e-commerce platform and will be entitled to
95% for all revenue generated by and received by Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides
that the Company will be entitled to appoint a manager to Mahaser. As consideration, the Company will pay Mahaser $100,000&#160;no later
than March 1, 2022 and issue Mahaser&#160;1,000,000&#160;shares of the Company&#8217;s restricted common stock. The Company shall have
no obligations to make any further payments to Mahaser. For any further extensions, the Company will have the option to extend the RSA
for annual payment of $200,000, which can be payable with the Company&#8217;s shares of common stock payable based on 20 days VWAP prior
to issuance.&#160;On March 16, 2022 the parties entered into Amendment No. 1 to the to the RSA, where all consideration to be paid or
issued to Mahaser will be deferred until such time where the e-commerce platform generated in cumulative revenue of $1,000,000. The Company
accounts for the RSA as a consolidated variable interest entity (&#8220;VIE&#8221;) for the period ended June 30, 2022. On March 31,
2022, the parties entered into Amendment No. 2 to the RSA, where Mahaser agreed to pay the Company 100% per year for all revenue generated
by and received by seller from the sales by Amazon within the United States of America as follows for the period from March 1, 2022 through
December 31, 2022. The Company will be responsible for 100% of the cost of goods sold as well. In addition, the Company is entitled to
earn 100% revenues and cost of goods sold of the test run period from February 1, 2022 to February 28, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>COVID-19
Pandemic</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company operates in a high-tech marketplace and relies on professionals and partnerships all over the world, which is impacted by the
global pandemic, causing the Company&#8217;s resources to be affected. Our business operations have been and may continue to be materially
and adversely affected by the coronavirus disease COVID-19. An outbreak of respiratory illness caused by COVID-19 emerged in Wuhan city,
Hubei province, PRC, in late 2019 and expanded globally. COVID-19 is considered to be highly contagious and poses a serious public health
threat. On March 19, 2020, California Governor Gavin Newsom issued a stay-at-home order to protect the health and well-being of all Californians
and to establish consistency across the state in order to slow the spread of COVID-19. California was therefore under strict quarantine
control and travel has been severely restricted, resulting in disruptions to work, communications, and access to files (due to limited
access to facilities). Since then, other measures have been imposed in other countries and major cities in the USA, including Los Angeles,
and throughout the world in an effort to contain the COVID-19 outbreak. The World Health Organization (the &#8220;WHO&#8221;) is closely
monitoring and evaluating the situation. On March 11, 2020, the WHO declared the outbreak of COVID-19 a pandemic, expanding its assessment
of the threat beyond the global health emergency it had announced in January. Any outbreak of such epidemic illness or other adverse
public health developments in the USA or elsewhere in the world may materially and adversely affect the global economy, our markets and
our business. The stay-at-home order was lifted in California only on January 25, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
the first quarter of 2020, the COVID-19 outbreak caused disruptions in our development operations, which resulted in delays on exiting
projects. The State of California and the economy in general has begun to slowly re-open following the introduction of the COVID-19 vaccine.
However, in the event COVID-19 or other variant is to again surface any further unforeseen delay in our operations of the development,
delivery and assembly process within any of our activities could continue to result in, increased costs and reduced revenue.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">We
cannot foresee whether the outbreak of COVID-19 and its variants will continue to be effectively contained. If the outbreak of COVID-19
is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected as
a result of the deteriorating market outlook for sales, the slowdown in regional and national economic growth, weakened liquidity and
financial condition of our customers and vendors or other factors that we cannot foresee. Any of these factors and other factors beyond
our control could have an adverse effect on the overall business environment, cause uncertainties, cause our business to suffer in ways
that we cannot predict and materially and adversely impact our business, financial condition and results of operations.&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Results
of Operations:</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Three
months ended June 30, 2022 and 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">A
comparison of the statements of operations for the three months ended June 30, 2022 and 2021 is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td>&#160;</td>
    <td colspan="7" style="text-align: center">&#160;</td><td style="font-weight: bold">&#160;</td>
    <td colspan="7" style="font-weight: bold; text-align: center">Change</td></tr>
  <tr style="vertical-align: bottom">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: center; text-indent: -10pt">&#160;</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2022</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">2021</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">$</td><td style="font-weight: bold; padding-bottom: 1pt">&#160;</td>
    <td colspan="3" style="border-bottom: Black 1pt solid; font-weight: bold; text-align: center">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; width: 40%; text-indent: -10pt">Sales</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">344,981</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">$</td><td style="width: 10%; text-align: right">&#8212;</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">344,981</td><td style="width: 1%; text-align: left">&#160;</td><td style="width: 3%">&#160;</td>
    <td style="width: 1%; text-align: left">&#160;</td><td style="width: 10%; text-align: right">100</td><td style="width: 1%; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Consulting income &#8211; related party</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">45,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">(45,000</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-100</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Total sales</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">344,981</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">45,000</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">299,981</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">667</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Cost of goods sold</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">179,471</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">179,471</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">100</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Gross profit</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">165,510</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">(3,441,137</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the three months ended June 30, 2021, our Company earned net revenues of $45,000. All sales were derived from providing IT consulting
services to a related party.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the three months ended June 30, 2022, our Company earned net revenues of $344,981. All sales were derived from Amazon that commenced
in the <span style="text-decoration: underline">first quarter of 2022</span>&#160;&#160;.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Operating
expenses for the three months ended June 30, 2022 were $926,342, compared to $16,100,213 for the period in 2021. The decrease of $15,173,871,
or 94% was principally due to an decrease in one time impairment of assets of $15,400,000 incurred in same period of 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Other
expense for the three months ended June 30, 2022 was $2,680,306, compared to $10,993,442 for the period in 2021. The decrease of $8,310,972,
or 76% was principally due to an increase in the change in fair value of derivative liability.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Net
loss for the three months ended June 30, 2022 was $3,441,137 compared to $27,048,655 for the period in 2021 due to the factors described
above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 6pt 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Six
months ended June 30, 2022 and 2021</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">A
comparison of the statements of operations for the six months ended June 30, 2022 and 2021 is as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">&#160;</td><td style="border-bottom: Black 1pt solid; text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">&#8212;</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">0</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 10pt; text-align: left; text-indent: -10pt">Net income (loss)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">485,102</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="border-bottom: Black 1pt solid; text-align: left">$</td><td style="border-bottom: Black 1pt solid; text-align: right">(32,424,264</td><td style="padding-bottom: 1pt; text-align: left">)</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">32,907,201</td><td style="padding-bottom: 1pt; text-align: left">&#160;</td><td style="padding-bottom: 1pt">&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">-101</td><td style="padding-bottom: 1pt; text-align: left">%</td></tr>
  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the six months ended June 30, 2021, our Company earned net revenues of $90,000. All sales were derived from providing IT consulting services
to a related party.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
the period ended June 30, 2022, our Company earned net revenues of $614,951. $45,000 sales were derived from providing IT consulting
services to a related party, and $569,951 sales were derived from Amazon that commenced in the first quarter of 2022. The IT consulting
service was terminated in the second quarter of 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Operating
expenses for the six months ended June 30, 2022 were $1,932,744, compared to $16,940,471 for the 2021 period. The decrease of $15,007,727,
or 89%was principally due to a decrease in one time impairment of assets of $15,400,000 which incurred in 2021 period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Other
income (expense) for the six months ended June 30, 2022 was $2,191,352, compared to $(15,573,793) for the same period in 2021. The decrease
of $17,762,981, or 114%was principally due to an increase in the change in fair value of derivative liability of $3,943,925 and decrease
in one time loss on debt modification of $13,777,480 which incurred in 2021 period.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Net
income (loss) for the six months ended June 30, 2022 was $485,102 compared to $(32,424,264) for 2021 period due to the factors described
above.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Liquidity
and Capital Resources</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Going
Concern</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-indent: 0pt; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
accompanying condensed CFS were prepared assuming that&#160;the Company&#160;will continue as a going
concern.&#160;The Company&#160;has an accumulated deficit of $304,096,671 and has a working capital deficit of $24,370,394 as of June
30, 2022, which raises substantial doubt about its ability to continue as a going concern.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company&#8217;s ability to continue as a going concern is dependent upon its ability to generate profitable operations in the future
and/or obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when
they come due. Management has plans to seek additional capital through some private placement offerings of debt and equity securities.
These plans, if successful, will mitigate the factors which raise substantial doubt about&#160;the Company&#8217;s ability to continue
as a going concern. These consolidated financial statements do not include any adjustments relating to the recoverability and classification
of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Our
cash and restricted cash were $390,326 and $0 at June 30, 2022 and December 31, 2021, respectively. Cash provided by (used in) operating
activities during the six months ended June 30, 2022 was $235,328, compared to $(946,462) during 2021 period. The amount provided by
operating activities for the six months ended June 30 2022 was primarily related to a net income of $482,938 and offset by amortization
of debt discount of $307,879, gain in fair value of derivative liability of $3,150,739, loss on investment of $240,000. Our working capital
position changed by going from a working capital deficit of $28,388,581 at December 31, 2021 to a working capital deficit of $24,372,558
at June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Cash
flows used in investing activities were $275,000 during the period ended June 30, 2022, compared to $0 for 2021 period. The increase
is due to the Stock Purchase Agreement with Marko Radisic and Touchpoint Group Holdings, Inc., the Intellectual Property License and
Royalty Agreement with<b>&#160;</b>Touchpoint Group Holdings, Inc. and the series agreements with GTX Corp.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Cash
from financing activities for the period ended June 30, 2022 was $349,002, compared to $851,884 for 2021 period. The change was primarily
due to a decrease in proceeds from convertible notes of $651,884, and an increase in proceed from sales of common stock of $231,865 and
an increase in proceeds from related party of $575,516 and repayments to related party of $558,379. Cash from financing activities for
the period ended June 30, 2021 was due to the issuance of convertible notes and notes payable in 2021 of $851,884.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">We
sustained net income of $485,102 for the six months ended June 30, 2022. In addition, we had a working capital deficit of $24,370,394
and accumulated deficit of $304,096,671 at June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i><span style="text-decoration: underline">Equity
Purchase Agreement and Registration Rights Agreement</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
December 17, 2021 (the &#8220;Effective Date&#8221;), the Company entered into an equity financing agreement (the &#8220;Equity Financing
Agreement&#8221;) and a registration rights agreement (the &#8220;Registration Rights Agreement&#8221;) with GHS Investments LLC (&#8220;GHS&#8221;),
pursuant to which GHS shall purchase from the Company, up to that number of shares of common stock of the Company (the &#8220;Shares&#8221;)
having an aggregate Purchase Price of $10,000,000, subject to certain limitations and conditions set forth in the Equity Financing Agreement
from time to time over the course of 24 months after an effective registration of the Shares with the Securities and Exchange Commission
(the &#8220;SEC&#8221;) pursuant to the Registration Rights Agreement, is declared effective by the SEC (the &#8220;Contract Period&#8221;).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
Equity Financing Agreement grants the Company the right, from time to time at its sole discretion (subject to certain conditions) during
the Contract Period, to direct GHS to purchase shares of Common Stock on any business day (a &#8220;Put&#8221;), provided that at least
ten trading days has passed since the most recent Put.&#160;The purchase price of the shares of Common Stock contained in a Put will
be 90% of the lowest daily volume weighted average price (VWAP) of the Company&#8217;s Common Stock during the ten consecutive trading
days preceding the receipt by GHS of the applicable Put notice. Such sales of Common Stock by the Company, if any, may occur from time
to time, at the Company&#8217;s option, during the Contract Period. Subject to the satisfaction of certain conditions set forth in the
Equity Financing Agreement, on each Put the Company will deliver a number of Shares equaling 110% of the dollar amount of each Put. The
maximum dollar amount of each Put will not exceed 200% of the average daily trading dollar volume for the Company&#8217;s Common Stock
during the ten trading days preceding the Trading Day that GHS receives a Put. No Put will be made in an amount equaling less than $10,000
or greater than $500,000. Puts are further limited to GHS owning no more than 4.99% of the outstanding stock of the Company at any given
time. The Equity Financing Agreement and the Registration Rights Agreement contain customary representations, obligations, rights, warranties,
agreements and conditions of the parties. The Equity Financing Agreement terminates upon any of the following events: when GHS has purchased
an aggregate of $10,000,000 in the Common Stock of the Company pursuant to the Equity Financing Agreement; on the date that is 24 calendar
months from the date the Equity Financing Agreement was executed.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Actual
sales of shares of Common Stock to GHS under the Equity Financing Agreement will depend on a variety of factors to be determined by the
Company from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by the
Company as to the appropriate sources of funding for the Company and its operations. For the six months ended June 30, 2022, the Company
received $231,866 as proceeds from the equity purchase agreement for issuance of 5,500,000 registered common shares.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>$10,000,000
for GBT Technologies S. A. acquisition (assigned to a third-party Igor 1 Corp)</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with the acquisition of GBT Technologies, S.A., a Costa Rican corporation (&#8220;GBT-CR&#8221;) the Company issued a convertible
note in the principal amount of $10,000,000. The convertible note bears interest of 6% and was payable at maturity on December 31, 2021.
At the election of the holder, the convertible note can be converted into a maximum of 20,000 shares of Series H Preferred Stock. Each
share of Series H Preferred Stock is convertible, at the option of the holder but subject to the Company increasing its authorized shares
of common stock, into such number of shares of common stock of the Company as determined by dividing the Stated Value ($500 per share)
by the conversion price ($10 per share). On May 19, 2021, the Company, IGOR 1 Corp, and Gonzalez GBTCR (none related parties) entered
into a Mutual Release and Settlement Agreement and Irrevocable Assignment of Note Balance Principal and Accrued Interest (the &#8220;Gonzalez
Agreement&#8221;). Pursuant to the Gonzalez Agreement, without any party admission of liability and to avoid litigation, the parties
has agreed to (i) extend the GBT Convertible Note maturity date to December 31,2022, (ii) amend the GBT Convertible Note
terms to include a beneficial ownership blocker of 4.99% and a modified conversion feature to the GBT Convertible Note with 15% discount
to the market price during the 20 trading day period ending on the latest complete trading day prior to the conversion date and (iii)
provided for an assignment of the GBT Convertible Note by Gonzalez to a third party. As a result of the change in terms of this convertible
note, the Company took a charge related to the modification of debt of $13,777,480&#160;during the year ended December 31, 2021.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">During
the year ended December 31, 2021,&#160;IGOR 1 converted $1,284,600 of the convertible note into 4,185,650 shares of the Company&#8217;s
common stock. Also, on June 24, 2021, the Company transferred 5,500,000 SURG shares received as repayment of $660,000 of this convertible
note (See Note 4).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As
of June 30, 2022, the note had an outstanding balance of $6,728,731 and accrued interest of $1,778,497.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Glen
Eagles Acquisition LP</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
July 8, 2019, the Company entered a Consulting Agreement with Glen Eagles Acquisition LP (&#8220;Glen&#8221;) as consultant to provide
services in connection with the Company&#8217;s acquisition of 25% of GBT-CR. Consultant will provide analysis, interaction with related
professional and other services as requested by the Company to integrate and expand capabilities between GBT-CR and the Company. The
Company shall pay Glen $1,000,000 through the issuance of a 6% Convertible Note. At the election of Glen, the Convertible Note can be
converted into a maximum of 2,000 shares of Series H Preferred Stock. Each share of Series H Preferred Stock is convertible, at the option
of the holder but subject to the Company increasing its authorized shares of common stock, into such number of shares of common stock
of the Company as determined by dividing the Stated Value ($500 per share) by the conversion price ($10 share). The Series H
Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series H Preferred Stock shall be entitled to
one vote for each share of common stock that the Series H Preferred Stock may be convertible into. In addition, the Company entered into
an Amendment of a Common Stock Purchase Warrant held by Glen to acquire nine million shares of common stock that had been assigned to
Glen by Guardian Patch LLC. Pursuant to the amendment, the Company agreed to provide that the Common Stock Purchase Warrant may be exercised
on a cashless basis and provided a beneficial ownership limitation of 4.99%. On or about June 23, 2020, the Company and AltCorp entered
into agreements with SURG and Glen Eagles Acquisition LP (&#8220;Glen&#8221;) into series of agreements regarding the $4,000,000 SURG
Note. Glen converted in full its $1,000,000 convertible note that was issued by the Company on July 8, 2019 plus $50,000 of accrued interest,
into $1,050,000 of a SURG Note via an assignment of a portion ($1,050,000 of a $4,000,000 face value) of the $4,000,000 SURG Note. In
addition, the Company entered into a consulting agreement with Glen for which the Company shall pay to Glen $200,000 via an assignment
of a portion ($200,000 of a $4,000,000 face value) of the $4,000,000 SURG Note. Glen in turn converted all its $1,250,000 considerations
received into 2,500,000 SURG shares. Per the final settlement agreement with Surge and per allocation of settlement funds agreement,
Glen credit balance for the end of 2021 was $662,500 which included $425,000 credit derived from said settlement (which was paid January
2022), where the open aged credit balance derived from the above, along with cash infusion with Glen as off the date of this report is
$412,500.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>RWJ
Acquisition Note</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
connection with the acquisition of RWJ in September 2017, the Company issued a note. The note accrues interest at 3.5%, was due on December
31, 2019 and was secured by the assets purchased in the acquisition. The Company contests the validity of the note, as such the note
has not been repaid as of June 30, 2022&#160;&#160;. (See Item 3 &#8211; Legal Proceedings). The balance of the note at June 30, 2022
is $2,600,000 plus accrued interest of $446,239.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Redstart
Holdings Corp.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
September 21, 2021, the Company entered into a Securities Purchase Agreement with Redstart pursuant to which the Company issued to Redstart
a Convertible Promissory Note (the &#8220;Redstart Note No. 7&#8221;) of $244,500 for a purchase price of $203,750. The Redstart Note
No. 7 has a maturity date of&#160;December 22, 2022&#160;and the Company has agreed to pay interest on the unpaid principal balance of
the Redstart Note No. 7 at the rate of 2.5% from the date on which the Redstart Note No. 7 is issued (the &#8220;Issue Date&#8221;) until
the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the
right to prepay the Redstart Note No. 7, provided it makes a payment including a prepayment to Redstart as set forth in the Redstart
Note No. 7. The transactions described above closed on September 28, 2021. The outstanding principal amount of the Redstart Note No.
7 may not be converted prior to the period beginning on the date that is 180 days following the Issue Date. Following the 180<sup>th</sup>&#160;day,
Redstart may convert the Redstart Note No. 7 into shares of&#160;the Company&#8217;s&#160;common stock&#160;at a conversion price equal
to 85% of the lowest trading price with a 20-day look back immediately preceding the date of conversion. Since the conversion price will
vary based on the Company&#8217;s stock price, the beneficial conversion feature associated with this note is accounted for as a derivative
liability. In addition, upon the occurrence and during the continuation of an Event of Default (as defined in the Redstart Note No. 7),
the Redstart Note No. 7 shall become immediately due and payable and the Company shall pay to Redstart, in full satisfaction of its obligations
hereunder, additional amounts as set forth in the Redstart Note No. 7. On or about March 28, 2022 Redstart converted $35,000 of this
note into 369,198 common shares of the Company. During the six months ended June 30, 2022, Redstart converted the entire note into&#160;7,656,951
shares of the Company&#8217;s common stock. As of June, 30, 2022, the note had an outstanding balance of $0 and accrued interest of $0.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Sixth
Street Lending LLC &#8211; named changed - 1800 Diagonal Lending LLC</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">First
Note</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
November 8, 2021, the Company entered into a Securities Purchase Agreement with Sixth Street Lending LLC (&#8220;Sixth Street&#8221;)
pursuant to which the Company issued to Sixth Street a Convertible Promissory Note (the &#8220;Sixth Street Note&#8221;) of $124,200
for a purchase price of $103,500. The Sixth Street Note has a maturity date of&#160;February 8, 2023&#160;and the Company has agreed
to pay interest on the unpaid principal balance of the note at the rate of 6% from the date on which the note is issued (the &#8220;Issue
Date&#8221;) until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company
shall have the right to prepay the note, provided it makes a payment including a prepayment to Sixth Street as set forth in the Sixth
Street Note. The outstanding principal amount of the note may not be converted prior to the period beginning on the date that is 180
days following the Issue Date. Following the 180<sup>th</sup>&#160;day, Sixth Street may convert the note into shares of&#160;the Company&#8217;s&#160;common
stock&#160;at a conversion price equal to 85% of the average of the two lowest trading&#160;prices&#160;with a 20-day look back immediately
preceding the date of conversion. Since the conversion price will vary based on the Company&#8217;s stock price, the beneficial conversion
feature associated with this note is accounted for as a derivative liability. In addition, upon the occurrence and during the continuation
of an Event of Default (as defined in the Sixth Street Note), the note shall become immediately due and payable and the Company shall
pay to Sixth Street, in full satisfaction of its obligations hereunder, additional amounts as set forth in the Sixth Street Note. During
the three months ended June 30, 2022, Sixth Street converted the entire note into&#160;26,343,190 shares of the Company&#8217;s common
stock. As of June, 30, 2022, the note had an outstanding balance of $0 and accrued interest of $0.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">Second
Note</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
May 5, 2022, the Company entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, an accredited investor (&#8220;DL&#8221;),
pursuant to which the Company issued to DL a Convertible Promissory Note (the &#8220;DL Note&#8221;) of $244,500 for a purchase price
of $203,500. The DL Note has a maturity date of August 4, 2023 and the Company has agreed to pay interest on the unpaid principal balance
of the DL Note at the rate of 6.0% from the date on which the DL Note is issued (the &#8220;Issue Date&#8221;) until the same becomes
due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the
DL Note at any time from the Issue Date and continuing through 180 days following the Issue Date, provided it makes a payment including
a prepayment premium to DL as set forth in the DL Note. The transactions described above funded on May 9, 2022.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
outstanding principal amount of the DL Note may not be converted prior to the period beginning on the date that is 180 days following
the Issue Date. Following the 180<sup>th</sup> day, DL may convert the DL Note into shares of&#160;<span style="color: #333333">the Company&#8217;s&#160;</span>common
stock&#160;<span style="color: #333333">at a conversion price </span>equal to 85% of the lowest trading price during the 20-day period
immediately preceding the date of conversion. In addition, upon the occurrence and during the continuation of an Event of Default (as
defined in the DL Note), the DL Note shall become immediately due and payable and the Company shall pay to DL, in full satisfaction of
its obligations hereunder, additional amounts as set forth in the DL Note. In no event shall DL be allowed to effect a conversion if
such conversion, along with all other shares of Company common stock beneficially owned by DL and its affiliates would exceed 4.99% of
the outstanding shares of the common stock of the Company.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Unless
the Company shall have first delivered to DL, at least 48 hours prior to the closing of any equity (or debt with an equity component)
financing in an amount less than $150,000 (&#8220;Future Offering&#8221;), written notice describing the proposed Future Offering and
providing the Buyer an option during the 48 hour period following delivery of such notice to DL the securities being offered in the Future
Offering on the same terms as contemplated by such Future Offering then the Company is restricted from conducting the Future Offering
during the period beginning on the Issue Date and ending nine months following the Issue Date.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Stanley
Hills LLC Convertible Note Payable</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
Company entered into a series of loan agreements with Stanley Hills LLC (&#8220;Stanley&#8221;) pursuant to which it received more than
$1,000,000 (the &#8220;Debt&#8221;) since May 2019 up to December 2019. On February 26, 2020, in order to induce Stanley to continue
to provide funding, the Company and Stanley entered into a letter agreement providing that the current note payable balance due to Stanley
of $1,214,900&#160;may be converted into shares of common stock of the Company at a conversion price equal to 85% multiplied by the lowest
one trading price for the common stock during the 20-trading day period ending on the latest complete trading day prior to the conversion
date. Since the conversion price will vary based on the Company&#8217;s stock price, the beneficial conversion feature associated with
this note is accounted for as a derivative liability. Stanley&#160;has agreed to restrict its ability to convert the Debt and receive
shares of common stock such that the number of shares of common&#160;stock held by it&#160;and its&#160;affiliates after such&#160;conversion&#160;or
exercise does not exceed 4.99% of the then issued and outstanding shares of common stock. During the year ended December 31, 2021, Stanley
converted $1,231,466&#160;of its convertible note plus interest into&#160;4,420,758&#160;shares of the Company&#8217;s common stock,
and during the year ended December 31, 2021, Stanley loaned the Company an additional $325,000. Also, during the year ended December
31, 2021, the Company transferred the SURG shares received as repayment of $800,000&#160;of this convertible note (See Note 4) and converted
$126,003 of accrued interest into the principal balance. During the year ended December 31, 2021, Gonzalez assigned all his accrued balances
of $424,731&#160;to Stanley in a private transaction that the Company is not part to. The balance of the Stanley convertible note payable
at June 30, 2022 and December 31, 2020 was $116,605 and $116,605, respectively. The unpaid interest of the Stanley convertible note payable
at June 30, 2022 and December 31, 2020 was $14,154 and $8,372, respectively. The Stanley debt was secured via a pledge agreement on the
SURG shares.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Stanley
Hills LLC Accounts Payable</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
January 1, 2021, SURG, AltCorp and Stanley entered into a Mutual Release and Settlement Agreement (&#8220;Settlement Agreement&#8221;)
after Stanley sued SURG. Pursuant to the terms of the Settlement Agreement, SURG agreed to amend the AltCorp Exchange Agreement where
SURG acknowledged a debt of $3,300,000 (the &#8220;Debt&#8221;) to be paid in 33 monthly payments of $100,000 payable in shares of common
stock of SURG at a per share price equal the volume weighted average price of Surg&#8217;s common stock during the 10 trading days immediately
preceding the issuance. The Company paid $650,000 in cash and the remaining by shares. The SURG common stock issued to Altcorp have been
pledged since August 12, 2020 for the benefit of Stanley to secure Stanley&#8217;s note payable by the Company. Accordingly, the SURG
Common Stock issued to AltCorp as a result of the Settlement Agreement were pledged to Stanley. As of December 31, 2021 there were no
surge shares pledges after the final settlement signed on December 22, 2021 and replaced all prior settlement agreement. As of June 30,
2022, the Company recorded an outstanding payable balance to Stanley $317,174.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Off-Balance
Sheet Arrangements</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the
Company&#8217;s financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources that are material to investors.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Critical
Accounting Policies and Use of Estimates</b></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Our
Management&#8217;s Discussion and Analysis of Financial Condition and Results of Operations is based upon our financial statements, which
have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;).
The preparation of our financial statements in accordance with U.S. GAAP requires us to make certain estimates, judgments and assumptions
that affect the reported amount of assets and liabilities as of the date of the financial statements, the reported amounts and classification
of revenues and expenses during the periods presented, and the disclosure of contingent assets and liabilities. We evaluate our estimates
and assumptions on an ongoing basis and material changes in these estimates or assumptions could occur in the future. Changes in estimates
are recorded on the period in which they become known. We base our estimates on historical experience and various other assumptions that
we believe to be reasonable under the circumstances and at that time, the results of which form the basis for making judgments about
the carrying values of assets and liabilities that are not readily-apparent from other sources. Actual results may differ materially
from these estimates if past experience or other assumptions do not turn out to be substantially accurate.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">We
believe that the accounting policies described below are critical to understanding our business, results of operations, and financial
condition because they involve significant judgments and estimates used in the preparation of our financial statements. An accounting
is deemed to be critical if it requires a judgment or accounting estimate to be made based on assumptions about matters that are highly
uncertain, and if different estimates that could have been used, or if changes in the accounting estimates that are reasonably likely
to occur periodically, could materially impact our financial statements. Other significant accounting policies, primarily those with
lower levels of uncertainty than those discussed below, are also critical to understanding our financial statements. The notes to our
financial statements contain additional information related to our accounting policies and should be read in conjunction with this discussion.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Presentation
of Financial Statements</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
accompanying financial statements have been prepared in accordance with U.S. GAAP.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Marketable
Securities</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company accounts for marketable securities in accordance with ASC Topic 321, <i>Investments &#8211; equity securities. </i>Marketable
equity securities are reported at fair value based on quotations available on securities exchanges with any unrealized gain or loss being
reported as a component of other income (expense) on the statement of operations. The portion of marketable equity security expected
to be sold within twelve months of the balance sheet date is reported as a current asset. These publicly traded equity securities are
valued using quoted prices and are included in Level 1.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Inventory</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Inventory
consists of electronic product ready for sale on Amazon.com. It is stated at the lower of cost or net realizable value and all inventories
were returned product from online customers. We value our inventory using the weighted average costing method. Our Company&#8217;s policy
is to include as a part of inventory any freight incurred to ship the product from our contract vendors to our warehouses. Outbound freights
costs related to shipping costs to our customers are considered period costs and reflected in selling, general and administrative expenses.
We regularly review inventory and consider forecasts of future demand, market conditions and product obsolescence.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Note
Receivable</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
September 18, 2020, the Company entered into a Purchase and Sale Agreement with Mr. LightHouse LTD<b>.</b>, an Israeli corporation (&#8220;MLH&#8221;)
pursuant to which the Company agreed to sell and assign to MLH, effective July 1, 2020 all the shares, and certain specified liabilities,
of Ugopherservices Corp. (&#8220;UGO&#8221;), a wholly owned subsidiary of the Company, in consideration of $100,000 to be paid through
the delivery of a promissory note payable to the Company (the &#8220;Note&#8221;), upon the terms and subject to the limitations and
conditions set forth in the Note. There is no material relationship between the Company, on one hand, and MLH, on the other hand. At
December 31, 2020, the Company determined that this note receivable was not collectible and took an impairment charge of $100,000. During
July 2021, MLH effected a $50,000 payment on the Note. During April 2022, MLH effected a second payment for additional $50,000 on the
Note exhausting the Note balance.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Stock
Loan Receivable</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
January 8, 2019, the Company entered into a Stock Pledge Agreement with Latin American Exchange Latinex Casa de Cambio, S.A., a Costa
Rica corporation (&#8220;Latinex&#8221;), to provide that Latinex may maintain its required regulatory capital as required by various
regulators. The Company has pledged&#160;4,005&#160;restricted shares of its common stock valued at $7,610,147&#160;(based on the closing
price on the grant date) for a term of three years in consideration of an annual payment of $375,000 paid in quarterly installments of
$93,750. In lieu of cash payment, Latinex may pay the Company in virtual currency of WISE Network S.A. valued at a 50% discount of its
offering price of $10 per token. In the event that Latinex&#8217;s required capital has decreased below $5,000,000, Latinex is permitted
to sell the pledged shares of common stock only in an amount to ensure that Latinex can satisfy the required capital levels. The Company
must consent to such sale of the shares of common stock, which may not be unreasonably withheld. Upon expiration of the agreement, the
remaining shares of common stock shall be returned to the Company free and clear of all liens. The Company has recorded the value of
these shares of common stock as a stock loan receivable which is presented as a contra-equity account in the accompanying consolidated
balance sheets. At December 31, 2019, the Company wrote off the accrued interest income as Latinex did not perform any payment and the
Company has no mean to enforce this payment. Latinex agreed in principle to return the pledged 4,005 restricted shares to the Company
for cancellation. The 4,005 restricted shares have not yet been returned to the Company as of June 30, 2022.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Derivative
Financial Instruments</i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded
derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded
at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations.
For stock-based derivative financial instruments, the Company uses a weighted-average Black-Scholes-Merton option pricing model to value
the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether
such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument
liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative
instrument could be required within 12 months of the balance sheet date. As of June 30, 2022 and December 31, 2021, the Company&#8217;s only derivative
financial instrument was an embedded conversion feature associated with convertible notes payable due to certain provisions that allow
for a change in the conversion price based on a percentage of the Company&#8217;s stock price at the date of conversion.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Fair
Value of Financial Instruments </i></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
certain of the Company&#8217;s financial instruments, including cash, accounts payable, accrued liabilities and short-term debt, the
carrying amounts approximate their fair values due to their short maturities.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">FASB
ASC Topic 820, <i>Fair Value Measurements and Disclosures</i>, requires disclosure of the fair value of financial instruments held by
the Company. FASB ASC Topic 825, <i>Financial Instruments</i>, defines fair value, and establishes a three-level valuation hierarchy
for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported
in the consolidated balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable
estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization
and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 30px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets. </span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. </span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Level 3 inputs to the valuation methodology us one or more unobservable inputs which are significant to the fair value measurement. </span></td></tr>
</table>

<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic 480, <i>Distinguishing Liabilities
from Equity</i>, and FASB ASC Topic 815, <i>Derivatives and Hedging</i>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">For
certain financial instruments, the carrying amounts reported in the balance sheets for cash and current liabilities, including convertible
notes payable, each qualify as a financial instrument, and are a reasonable estimate of their fair values because of the short period
of time between the origination of such instruments and their expected realization and their current market rate of interest.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company uses Level 2 inputs for its valuation methodology for derivative liabilities as their fair values were determined by using the
Black-Scholes-Merton pricing model based on various assumptions. The Company&#8217;s derivative liabilities are adjusted to reflect fair
value at each period end, with any increase or decrease in the fair value being recorded in results of operations as adjustments to fair
value of derivatives.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Treasury
Stock</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Treasury
stock is recorded at cost. The re-issuance of treasury shares is accounted for on a first in, first-out basis and any difference between
the cost of treasury shares and the re-issuance proceeds are charged or credited to additional paid-in capital.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Reclassification</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Certain
prior years amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect
on the reported results of operations.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Revenue
Recognition </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Accounting
Standards Update (&#8220;ASU&#8221;) No. 2014-09,&#160;<i>Revenue from Contracts with Customers&#160;</i>(&#8220;<i>Topic 606</i>&#8221;),
became effective for the Company on January 1, 2018. The Company&#8217;s revenue recognition disclosure reflects its updated accounting
policies that are affected by this new standard. The Company applied the &#8220;modified retrospective&#8221; transition method for open
contracts for the implementation of&#160;<i>Topic 606.</i> The Company had no significant post-delivery obligations, this new standard
did not<i>&#160;</i>result in a material recognition of revenue on the Company&#8217;s accompanying consolidated financial statements
for the cumulative impact of applying this new standard. The Company made no adjustments to its previously-reported total revenues, as
those periods continue to be presented in accordance with its historical accounting practices under&#160;<i>Topic 605, Revenue Recognition</i>.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Revenues
are recognized under&#160;<i>Topic 606</i>&#160;in a manner that reasonably reflects the delivery of its services to customers in return
for expected consideration and includes the following elements:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i><span style="text-decoration: underline">IT
Consulting services:</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;<i>&#160;</i></span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
<tr style="vertical-align: top">
<td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">executed contracts with the Company&#8217;s customers that it believes are legally enforceable;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">identification of performance obligations in the respective contract;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">determination of the transaction price for each performance obligation in the respective contract;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">allocation the transaction price to each performance obligation; and</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
<td><span style="font: 10pt Times New Roman, Times, Serif">recognition of revenue only when the Company satisfies each performance obligation.</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">These
five elements, as applied to each of the Company&#8217;s IT revenue category, is summarized below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">IT consulting&#160;services
    - revenue is recorded on a monthly basis as services are provided</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">These
five elements, as applied to each of the Company&#8217;s license revenue category, is summarized below:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">License&#160;services &#8211;
    the one-time revenue is recorded as other income upon agreement is executed and services are provided.</span></td></tr>
  </table>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><i>E-Commerce
sales </i>&#8211;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Identify the contract(s)
    with a customer. ASC 606 defines a contract as &#8220;an agreement between two or more parties that creates enforceable rights and
    obligations&#8221;. Since this is an e-commerce sale on the Amazon website, the Company just followed the general terms on Amazon
    website and the customer entered into a contract with the Company based on the product listed on the Amazon website;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Identify the performance
    obligations in the contract. According to the contract, the Company is responsible for operation exclusively. The Company is entitled
    to all revenue which is being paid by Amazon into a designated bank account and the Company is responsible for all product acquisitions
    as well as shipments. The only performance obligations were the electronic products that were listed on Amazon website and the Company
    determined each order is one single obligation;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Determine the transaction
    price. The transaction price set to be the listed price on the Amazon website.;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Allocate the transaction
    price to the performance obligations in the contract.; and</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Recognize revenue when
    the Company satisfies a performance obligation. Sales are being recognize upon shipment.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Unearned
revenue</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Unearned
revenue represents the net amount received for the purchase of products that have not seen shipped to the Company&#8217;s customers.
In 2018, the Company ran pre-sales efforts for its pet tracker product and received prepayments for its product. In addition, during
2018, the Company received $200,000 in connection with an intellectual property license and royalty agreement. On January 28, 2022 awarded
the Company with injunction against RWJ Defendants, where all fee funds generating from resale should be deposited into GBT blocked account,
and therefore RWJ Defendants cannot use these funds without court order - $15,326 been credited as unearned revenue until court final
decision. The Company has $249,159 and $249,384 of unearned revenue at June 30, 2022 and December 31, 2021, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Contract
liabilities</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
February 22, 2022, the Company entered into an Intellectual Property License and Royalty Agreement with<b>&#160;</b>Touchpoint Group
Holdings, Inc. (&#8220;Touchpoint&#8221; or &#8220;TGHI&#8221;) pursuant to which the Company granted TGHI a worldwide license for its
technologies for a term of five years in the domains of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies
pertaining to the Company&#8217;s digital currency technology (the &#8220;Technology&#8221;). GBT will charge TGHI earned royalties based
on actual uses by TGHI of the Technology resulting from revenue attributable to the use, performance or other exploitation of the Technology,
to the extent applicable, after deducting any taxes that the Company may be required to collect, and deducting any international sales,
goods and services, value added taxes or similar taxes which the Company is required to pay, if any, excluding deductions for taxes on
the Company net income. TGHI agreed to issue the Company 10,000,000 shares of common stock of TGHI in the fair value of $50,000 as a
one-time fee in consideration of the Company entering this Intellectual Property License and Royalty Agreement, which was booked contract
liabilities and amortized over the five-year term. The Company have yet to earn any royalty income in relation to this agreement as of
June 30, 2022. The contract liabilities as of June 30, 2022 and December 31, 2021 was $46,444 and $0, respectively.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Variable
Interest Entity</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement (&#8220;RSA&#8221;) with Mahaser LTD.
(&#8220;Mahaser&#8221;) pursuant to which the Company acquired the opportunity to share in revenues generated by Mahaser with respect
to e-commerce sales through the online retail platform in the United States of America. Mahaser owns an e-commerce platform as a store
which is the legal, exclusive owner of Ravenholm Electronics. The Company will operate the e-commerce platform and will be entitled to
95% for all revenue generated by and received by Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides
that the Company will be entitled to appoint a manager to Mahaser. As consideration, the Company will pay Mahaser $100,000&#160;no later
than March 1, 2022 and issue Mahaser&#160;1,000,000&#160;shares of the Company&#8217;s restricted common stock. The Company shall have
no obligations to make any further payments to Mahaser. For any further extensions, the Company will have the option to extend the RSA
for annual payment of $200,000, which can be payable with the Company&#8217;s shares of common stock payable based on 20 days VWAP prior
to issuance.&#160;On March 16, 2022 the parties entered into Amendment No. 1 to the to the RSA, where all consideration to be paid or
issued to Mahaser will be deferred until such time where the e-commerce platform generated in cumulative revenue of $1,000,000. On March
31, 2022, the parties entered into Amendment No. 2 to the RSA, where Mahaser agreed to pay the Company 100% per year for all revenue
generated by and received by seller from the sales by Amazon within the United States of America as follows for the period from March
1, 2022 through December 31, 2022. The Company will be responsible for 100% of the cost of goods sold as well. In addition, the Company
is entitled to earn 100% revenues and cost of goods sold of the test run period from February 1, 2022 to February 28, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
Company evaluated whether it has a variable interest in Mahaser, whether Mahaser is a VIE and whether the Company has a controlling financial
interest in Mahaser. The Company concluded that it has variable interests in Mahaser on the basis of GBT has 100% control over the JV/revenue
sharing, and as such should consolidate the JV into its books and records as it assigned 100% financial responsibility. Mahaser&#8217;s
equity at risk, as defined by GAAP, is considered to be insufficient to finance its activities without additional support, and, therefore,
Mahaser is considered a VIE.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In
order to determine whether the Company has a controlling financial interest in Mahaser and, thus, is Mahaser&#8217;s primary beneficiary,
the Company considered whether it has i) the power to direct the activities of Mahaser that most significantly impact its economic performance
and ii) the obligation to absorb losses of Mahaser that could potentially be significant to it or the right to receive benefits from
Mahaser that could potentially be significant to it. The Company concluded that GBT has the sole power to direct the activities of a
VIE via the appointment of Manager to the VIE as sole manger and as it control the bank account, as it representative is signatory on
the account, as well as sole control over the e-commerce platform and its operations that most significantly impact the VIE&#8217;s economic
performance.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">In
addition, the Company&#8217;s variable interests in Mahaser obligate the Company to absorb deficits and provide it with the right to
receive benefits that could potentially be significant to Mahaser. As a result of this analysis, the Company concluded that it is the
primary beneficiary of Mahaser and therefore consolidates the balance sheets, results of operations and cash flows of Mahaser. The Company
performs a qualitative assessment of Mahaser on an ongoing basis to determine if it continues to be the primary beneficiary.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
following table summarizes the carrying amount of the assets and liabilities of Mahaser included in the Company&#8217;s consolidated
balance sheets (after elimination of intercompany transactions and balances) as of June 30, 2022:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: White">
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  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">&#160;Cost of goods sold</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">388,458</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">&#160;Gross profit</td><td>&#160;</td>
    <td style="text-align: left">&#160;</td><td style="text-align: right">181,493</td><td style="text-align: left">&#160;</td></tr>
  <tr style="vertical-align: bottom; background-color: rgb(204,238,255)">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">&#160;General and administrative expenses</td><td style="padding-bottom: 1pt">&#160;</td>
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  <tr style="vertical-align: bottom; background-color: White">
    <td style="padding: 0pt 0pt 0pt 20pt; text-align: left; text-indent: -10pt">&#160;Net Gain</td><td style="padding-bottom: 2.5pt">&#160;</td>
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  </table>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 24.5pt; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Income
Taxes </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company accounts for income taxes in accordance with ASC Topic 740, <i>Income Taxes</i>. ASC 740 requires a company to use the asset
and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences,
and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the
reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the
opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will&#160;not be realized. Deferred
tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Under
ASC 740, a tax position is recognized as a benefit only if it is &#8220;more likely than not&#8221; that the tax position would be sustained
in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that
is greater than 50% likely of being realized on examination. For tax positions not meeting the &#8220;more likely than not&#8221; test,
no tax benefit is recorded. The Company has no material uncertain tax positions for any of the reporting periods presented.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>Dividends</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company has not yet adopted any policy regarding payment of dividends. No cash dividends have been paid or declared since the Date of
Inception.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_008"></span>ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
a Smaller Reporting Company, the Company is not required to include the disclosure under this Item.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_009"></span>ITEM
4. CONTROLS AND PROCEDURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>Evaluation
of Disclosure Controls and Procedures</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As
of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our
management, including Mansour Khatib, who serves as our Chief Executive Officer and Principal Financial Officer, of the effectiveness
of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities
Exchange Act of 1934, as amended. Based upon that evaluation, our Chief Executive Officer and Principal Financial Officer has concluded
that our disclosure controls and procedures were not effective as of the end of the applicable period to ensure that the information
required to be disclosed by the Company in reports that it files or submits under the Exchange Act (i) is recorded, processed, summarized
and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (ii) is accumulated and communicated
to our management, including our Chief Executive Officer, as appropriate to allow timely decisions regarding required disclosures.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As
a smaller reporting company, with revenues stemming from recent acquisitions and a lack of profitability, the Company does not have the
resources to install dedicated staff with deep expertise in all facets of SEC disclosure and GAAP compliance, and does not employ enough
accounting staff to have proper separation of duties. As is the case with many smaller reporting companies, the Company will continue
to consult with its external auditors and attorneys as it relates to new accounting principles and changes to SEC disclosure requirements.
In order to correct this material weakness, the Company engaged a consultant with expertise in SEC disclosure and GAAP compliance. The
Company has found that this approach worked well in the past and believes it to be the most cost-effective solution available for the
foreseeable future. The Company will conduct a review of existing sign-off and review procedures as well as document control protocols
for critical accounting spreadsheets. The Company will also increase management&#8217;s review of key financial documents and records.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">As
a smaller reporting company, the Company does not have the resources to fund sufficient staff to ensure a complete segregation of responsibilities
within the accounting function. However, Company management does review, and will increase the review of, financial statements on a monthly
basis, and the Company&#8217;s external auditor conducts reviews on a quarterly basis. These actions, in addition to the improvements
identified above, will minimize any risk of a potential material misstatement occurring.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_010"></span>PART
II - OTHER INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b><span id="a_011"></span>ITEM
1. LEGAL PROCEEDINGS</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><i>Legal
Proceedings</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">From
time to time, the Company may be involved in various litigation matters, which arise in the ordinary course of business. There is currently
no litigation that management believes will have a material impact on the financial position of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
or around January 30, 2019, RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson sued the Company and multiple third and related
parties in Superior Court of the State of California - County of Los Angeles, General District in connection with the acquisition of
UGO in September 2017. The case number is 19STCV03320 (the &#8220;Original Lawsuit&#8221;). The complaint in the Original Lawsuit alleges
breach of contract, among other causes of action. The Company answered the complaint and filed a cross-complaint against the plaintiffs
in the case and third parties on or around February 15, 2019. On or about September 10, 2020, the Company through its agent of service
was &#8220;served&#8221; with a complaint (the Company contested service) that was recently filed against the Company and third parties
by Robert Warren Jackson and Gregory Bauer in Los Angeles Superior Court Case No.: 20STCV32709 (&#8220;Second Lawsuit&#8221;). In the
Original Lawsuit filed, the court rejected the plaintiff&#8217;s claims that they were filing a purported quasi-derivative lawsuit. As
such, in this current litigation, the plaintiff is now again claiming the action is a derivative lawsuit. On October 13, 2020, the Second
Lawsuit was removed by other defendants into Central District of California (CASE NO. 2:20&#8722;cv&#8722;09399&#8722;RGK&#8722;AGR).
On February 2, 2021 the Central District of California dismissed the entire Second Lawsuit based on &#8220;demand futility&#8221;. In
the Original lawsuit, the Company filed a cross complaint against the plaintiff and other third parties. Recently, the court has scheduled
various hearings and a trial date set for December 27, 2021 which was later continued by the Court to September 28, 2022. It was the
Company&#8217;s intention to dividend its holdings of its wholly owned subsidiary Ugopherservices Corp. (&#8220;UGO&#8221;). As UGO is
the main dispute in the litigations described above, the Company has elected to sell UGO to a third-party effective July 1, 2020 (See
Note 3). On September 17, 2020, the Company terminated Greg Bauer as consultant (resulting from the sale of UGO), which he confirmed
in writing. On or about June 14, 2021 the Company stipulated with plaintiff that all third parties will be released and plaintiff may
file a new first amendment complaint that will name only the Company. As such, all third parties other than prior transfer agent of the
Company have been dismissed from this litigation.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Following
the sale of UGO, the Company noticed third parties (including SURG, via its asset manager) to wire the UGO funds to its new bank account.
SURG never answered the notice. SURG is the clearing house for UGO. The Company noticed certain third parties that it intends to take
legal actions to resolve this issue. On November 12, 2020 the Company filed a complaint in the United States District Court &#8211; District
of Nevada - Case 2:20-cv-02078 against RWJ, Mr. Bauer, Mr. Jackson and against W.L. Petrey Wholesale Company Inc for fraud, breach of
contract, Unjust Enrichment and other claims. On January 28, 2022 the court awarded the Company with injunction against RWJ defendants,
where all fee funds generating from resale should be deposited into GBT blocked account, and therefore RWJ Defendants cannot use these
funds without court order.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
December 3, 2018, the Company entered into a Securities Purchase Agreement (the &#8220;SPA&#8221;) with Discover Growth Fund, LLC (the
&#8220;Investor&#8221;) pursuant to which the Company issued a Senior Secured Redeemable Convertible Debenture (the &#8220;Debenture&#8221;)
of $8,340,000. In connection with the issuance of the Debenture and pursuant to the terms of the SPA, the Company issued a Common Stock
Purchase Warrant to acquire up to&#160;225,000&#160;shares of common stock for a term of three years (the &#8220;Warrant&#8221;) on a
cash-only basis at an exercise price of $100 per share with respect to 50,000 Warrant Shares, $75 with respect to 75,000 Warrant Shares
and $50 with respect to 100,000 Warrant Shares. The holder may not exercise any portion of the Warrants to the extent that the holder
would own more than 4.99% of the Company&#8217;s outstanding common stock immediately after exercise. The outstanding principal amount
may be converted at any time into shares of&#160;the Company&#8217;s&#160;common stock&#160;at a conversion price equal to 95% of the
Market Price less $5 (the conversion price is lowered by 10% upon the occurrence of each Triggering Event &#8211; the current conversion
price is 75% of the Market Price less $5). The Market Price is the average of the 5 lowest individual daily volume weighted average prices
during the period the Debenture is outstanding. On May 28, 2019, the Investor delivered to the Company a &#8220;Notice of Default and
Notice of Sale of Collateral&#8221; (the &#8220;Notice&#8221;). On December 23, 2019, in arbitration between the Company and the Investor,
an Interim Award was entered in favor of the Investor. On January 31, 2020, the Company was informed that a final award was entered (the
&#8220;Final Award&#8221;). The Final Award affirms that certain sections of the Debenture&#160;constitute unenforceable liquidated damages
penalties and were stricken. Further, it was determined that the Investor was entitled to recovery of their attorney&#8217;s fees. Consequently,
the arbitrator awarded Investor $4,034,444&#160;plus interest of&#160;7.25% accrued from May 15, 2019 and costs $55,613. On February
18, 2020, the Company filed a motion with the United States District Court District of Nevada (the &#8220;Nevada Court&#8221;) to confirm
the Final Award and a motion to consolidate Investor&#8217;s application to confirm the Final Award filed in the U.S. District Court
of the Virgin Islands (Case No: 3 :20-cv-00012-CVG-RM) (the &#8220;Virgin Island Court&#8221;). On February 27, 2020, the Nevada Court
denied the Company&#8217;s motion to confirm the Final Award and motion to consolidate and further decided that the confirmation of the
Final Award should be litigated in the Virgin Island Court. As such, on February 27, 2020, the Company filed a Notice of Entry of Order
as well as a Motion to Confirm the Arbitration Award, address the outstanding issues regarding whether Investor&#8217;s rights are subordinated
to other creditors and, thereafter, oversee a commercially reasonable foreclosure sale (Case No: 3 :20-cv-00012-CVG-RM). It was the Company&#8217;s
position that the Final Award must first be confirmed and all questions regarding the rights of Investor relative to those of other creditors
must be determined before any foreclosure sale can proceed. It is further the position of the Company that the previously disclosed foreclosure
sale scheduled by Investor is being conducted in a commercially unreasonable manner and that if Discover proceeded forward with the foreclosure
sale it did so at its own risk. Nevertheless, on February 28, 2020, Investor advised that it conducted a sale of the Company&#8217;s
assets. As the date of this report Investor failed to present a deed of sale for the alleged sale that allegedly took place as noticed.
The Company filed with Virgin Island Court the motions disputing the validity of the alleged sale. On July 28, 2020, Investor filed in
the State of Nevada a motion for attorneys fees of $48,844&#160;and cost of $716. The Company filed an answer on August
11, 2020.&#160;On October 16, 2020, Investor motion for attorneys fees of $48,844&#160;and cost of $716&#160;was denied. The balance was
included in accounts payable for the unearned settlement. As of June 30, 2022, this case is still pending with the Federal court and the
Court has not taken any substantive action in the matter as of the date of this report.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>GBT
Technologies, S.A.</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
September 14, 2018, the Company entered into an Exclusive Intellectual Property License and Royalty Agreement (the &#8220;GBT License
Agreement&#8221;) with GBT-CR, a fully compliant and regulated crypto currency exchange platform that currently operates in Costa Rica
as a decentralized crypto currency platform, pursuant to which, among other things, the Company granted to GBT-CR an exclusive, royalty-bearing
right and license relating intellectual property relating to systems and methods of converting electronic transmissions into digital
currency as reflected in that certain patent filed with the United Stated Patent and Trademark Office on or about June 14, 2018 (EFS
ID: 32893586; Application Number: 16008069; Type: Utility under 35 USC 111(a); Confirmation Number: 6787)(collectively, the &#8220;Digital
Currently Technology&#8221;). Pursuant to the GBT License Agreement, the Company granted GBT-CR an exclusive worldwide license to use
the Digital Currency Technology to make, use, sell, lease or otherwise commercialize and dispose of products and devices utilizing the
Digital Currently Technology. Under the terms of the GBT License Agreement, the Company is entitled to receive a royalty of 2% of gross
revenue of each licensed product sold by GBT-CR during the period starting in which revenue is first generated using the licensed products
and continuing for five years thereafter. Upon signing the GBT-CR License Agreement, GBT-CR paid the Company $300,000 which is nonrefundable.
The Company has recognized the $300,000&#160;as revenue during the years ended December 31, 2018. Upon GBT-CR making available for sale
(the &#8220;Commercial Event&#8221;) an ICO (Initial Coin Offering) (the &#8220;Coin&#8221;), GBT-CR will make a payment to the Company
of $5,000,000. Further, upon the Commercial Event, GBT-CR will grant the Company the ability to acquire 30% of the Coin at a 30% discount
of such offering price of the Coin. The GBT License Agreement commenced as of the signing date and, unless terminated in accordance with
the termination provisions of the GBT License Agreement, shall remain in force until the expiration of the patent pertaining to the Digital
Currency Technology; provided that the right to use trade, secrets shall survive the expiration of the GBT License Agreement provided
the Company has not terminated. Prior to the signing of the GBT License Agreement, GBT-CR advanced $200,000&#160;to the Company, which
the parties agreed will be applied toward the $5,000,000 fee when it becomes due. The $200,000&#160;is recorded as unearned revenue at
December 31, 2018 and reclassified to accrued expense as of June 30, 2022 and December 31, 2021. On February 27, 2020 GBT Technologies, S.A., as successor
in interest to Hermes Roll, LLC had notified the Company that it was in default on its Amended and Restated Territorial License Agreement
(&#8220;ARTLA&#8221;) dated June 15, 2015 and that the ARTLA had been cancelled and rescinded.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
connection with SURG Exchange Agreement - On November 4, 2020, Altcorp and Stanley filed an Ex Parte Motion in the District Court, Clark
County, Nevada (Case No: A-20-823039-B, in Dep No: 43) to appoint receiver and issue a temporary restraining Order against SURG and its
transfer agent for alleged defaults on prior exchange agreement. On December 4, 2020, the parties entered an interim agreement which
set the material terms of the settlement. A final settlement was achieved per the interim agreement terms on January 1, 2021. On March
4, 2021 the Company filed a motion to enforce settlement agreements, as the Company alleged that SURG owes an additional $240,000 which
is due and owing under the settlement agreements.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
June 24, 2021 per the June 23, 2020 Agreement, the Company together with AltCorp sent SURG and its transfer agent via registered mail,
a true-up shares demand for an additional 14,870,370 SURG shares as calculated per the Agreement. As of the filing date of this report,
SURG&#8217;s transfer agent did not answer the Company&#8217;s request.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Subsequently,
SURG was a party to two lawsuits in state District Court, the Eighth Judicial District Court for Clark County, Nevada involving AltCorp,
Stanley and Glen Eagles Acquisition LP (the &#8220;AltCorp Parties.&#8221;). Each of these lawsuits were ultimately disputes relating
to the total consideration SURG was to pay the Company under the APA.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
October 18, 2021, the AltCorp Parties, the Company, and SURG entered into a Memorandum of Understanding (the &#8220;MOU&#8221;) to set
up a framework for an attempt to settle the two lawsuits.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
December 22, 2021 (the &#8220;Effective Date&#8221;), pursuant to the framework in the MOU, the AltCorp Parties (and an additional third
party), the Company, ECS, and SURG, Kevin Brian Cox (SURG&#8217;s Chief Executive Officer) - in his individual capacity, entered into
a Resolution of Purchase, Mutual Release, and Settlement Agreement (the &#8220;Final Settlement Agreement&#8221;) to settle the two lawsuits
and resolve all disputes related to the consideration paid by SURG to the Company in connection with the APA.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
or about July 9, 2021 the Company filed a lawsuit in District Court in Clack County Nevada &#8211; Department 19 (Case number A-21-837631-C)
against Terry Taylor and TTSG Holdings, Inc for breach of contract, breach of covenant of Good Faith and Fair Dealing, Unjust Enrichment
and declaratory relief for failure of providing consulting services per contract they entered. The Company is demanding the return of
12,000,000 shares issued, return of the $5,000 payments, recission of the consulting agreement, and attorney&#8217;s fees and costs.
The lawsuit is still pending as of the date of this report. As Terry Taylor and TTSG Holdings, Inc failed to appear to a Notice of Deposition,
the Company filed for a summery judgment.</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Gregory
Mancuso and Rainer AG</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
or about February 2, 2022, GBT was served with a First Amended Complaint (the &#8220;Complaint&#8221;) initiated by Gregory Mancuso and
Rainer AG, a Swiss corporation, Case No. 21SMCV01430, filed in the Superior Court of the State of California for the County of Los Angeles.
The Complaint names a number of different parties, including GBT, and asserts, among other things, claims for conversion, unjust enrichment,
breach of contract, and breach of implied covenant of fair dealing, which Plaintiffs allege arise out of a brokerage agreement entered
into between Plaintiff Rainer AG and co-defendant Consul Group re Dos Mil Veintiuno S.R.L (&#8220;Consul&#8221;). GBT was sued under
an alter ego theory of liability, and its only involvement in the above-referenced chain of events seems to be that its shares were deposited
with Rainer by Consul upon the opening of the brokerage account. GBT will be filling a demurrer to the First Amended Complaint based
on a variety of deficiencies with the First Amended Complaint, and will ask the Court to dismiss the claims against GBT.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>ITEM
1A. RISK FACTORS.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">As
a smaller reporting company, we are not required to provide the information required by this item.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During
the three months ended March 31, 2022, the Company had the following transactions in its common stock:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="width: 24px"><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued an aggregate of
    369,198 for the conversion of convertible notes of $35,000; and </span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
    <td><span style="font: 10pt Times New Roman, Times, Serif">&#9679;</span></td>
    <td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">issued&#160;463,303&#160;shares
    to GHS from Equity Financing Agreement for gross consideration of $68,308, The value of the shares of was determined based on the
    Equity Financing.</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">During
the three months ended June 30, 2022 the Company had the following transactions in its common stock:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%">
  <tr style="vertical-align: top">
    <td style="width: 24px">&#160;</td>
    <td style="width: 24px"><span style="font-size: 10pt">&#9679;</span></td>
    <td style="text-align: justify"><span style="font-size: 10pt">issued an aggregate of 288,672,073 for the conversion of convertible notes of $1,660,370 and accrued interest of $6,491; and </span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td style="text-align: justify">&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-size: 10pt">&#9679;</span></td>
    <td><span style="font-size: 10pt">issued&#160;150,000,000&#160;shares to GBT Tokenize for certain joint venture agreement between Magic International Argentina FC, S.L. and the Company (See note 16). The value of the shares of $1,500&#160;was determined based on the FV of the Company.; and &#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-size: 10pt">&#9679;</span></td>
    <td><span style="font-size: 10pt">issued&#160;500,000,000&#160;shares to Metaverse for certain equity method investment (see note 16). The value of the shares of $5,000 &#160;was determined by management; and &#160; &#160;</span></td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td>&#160;</td>
    <td>&#160;</td></tr>
  <tr style="vertical-align: top">
    <td>&#160;</td>
    <td><span style="font-size: 10pt">&#9679;</span></td>
    <td><span style="font-size: 10pt">issued&#160;5,036,697&#160;shares to GHS from Equity Financing Agreement for gross consideration of $163,559, The value of the shares of was determined based on the Equity Financing. &#160; &#160;</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span>&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation (&#8220;Greenwich&#8221;), entered
into a Master Joint Venture and Territorial License Agreement (the &#8220;Tokenize Agreement&#8221;) with Magic International Argentina
FC, S.L. (&#8220;Magic&#8221;) and Tokenize which replaced a prior joint venture entered between the parties. The Tokenize Agreement
provides that the Company shall contribute 150,000,000 shares of common stock of the Company to Tokenize.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
May 5, 2022, the Company entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, an accredited investor (&#8220;DL&#8221;)
pursuant to which the Company issued to DL a Convertible Promissory Note (the &#8220;DL Note&#8221;) of $244,500 for a purchase price
of $203,500. The DL Note has a maturity date of August 4, 2023 and the Company has agreed to pay interest on the unpaid principal balance
of the DL Note at the rate of 6.0% from the date on which the DL Note is issued (the &#8220;Issue Date&#8221;) until the same becomes
due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the
DL Note, provided it makes a payment including a prepayment to DL as set forth in the DL Note. The transactions described above funded
on May 9, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
outstanding principal amount of the DL Note may not be converted prior to the period beginning on the date that is 180 days following
the Issue Date. Following the 180th day, DL may convert the DL Note into shares of&#160;the Company&#8217;s&#160;common stock&#160;at
85% of the lowest trading price with a 20-day look back immediately preceding the date of conversion. In addition, upon the occurrence
and during the continuation of an Event of Default (as defined in the DL Note), the DL Note shall become immediately due and payable
and the Company shall pay to DL, in full satisfaction of its obligations hereunder, additional amounts as set forth in the DL Note. In
no event shall DL be allowed to effect a conversion if such conversion, along with all other shares of Company common stock beneficially
owned by DL and its affiliates would exceed 4.99% of the outstanding shares of the common stock of the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Unless
the Company shall have first delivered to DL, at least 48 hours prior to the closing of any equity (or debt with an equity component)
financing in an amount less than $150,000 (&#8220;Future Offering&#8221;), written notice describing the proposed Future Offering and
providing the Buyer an option during the 48 hour period following delivery of such notice to DL the securities being offered in the Future
Offering on the same terms as contemplated by such Future Offering then the Company is restricted from conducting the Future Offering
during the period beginning on the Issue Date and ending nine months following the Issue Date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Subsequent
to June 30, 2022, multiple note holders elected to convert $198,900 principal amount into 150,000,000 shares of the Company&#8217;s
common stock.&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
offer, sale and issuance of the above securities was made to accredited investors and the Company relied upon the exemptions contained
in Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Rule 506 of Regulation D promulgated thereunder with regard to the
sale. No advertising or general solicitation was employed in offering the securities. The offer and sales were made to accredited investors
and transfer of the common stock will be restricted by the Company in accordance with the requirements of the Securities Act of 1933,
as amended.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>ITEM
3. DEFAULTS UPON SENIOR SECURITIES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
or around January 30, 2019, RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson sued the Company and multiple third and related
parties in Superior Court of the State of California - County of Los Angeles, General District in connection with the acquisition of
UGO in September 2017. The case number is 19STCV03320 (the &#8220;Original Lawsuit&#8221;). The complaint in the Original Lawsuit alleges
breach of contract, among other causes of action. The Company answered the complaint and filed a cross-complaint against the plaintiffs
in the case and third parties on or around February 15, 2019. On or about September 10, 2020, the Company through its agent of service
was &#8220;served&#8221; with a complaint (the Company contested service) that was recently filed against the Company and third parties
by Robert Warren Jackson and Gregory Bauer in Los Angeles Superior Court Case No.: 20STCV32709 (&#8220;Second Lawsuit&#8221;). In the
Original Lawsuit filed, the court rejected the plaintiff&#8217;s claims that they were filing a purported quasi-derivative lawsuit. As
such, in this current litigation, the plaintiff is now again claiming the action is a derivative lawsuit. On October 13, 2020, the Second
Lawsuit was removed by other defendants into Central District of California (CASE NO. 2:20&#8722;cv&#8722;09399&#8722;RGK&#8722;AGR).
On February 2, 2021 the Central District of California dismissed the entire Second Lawsuit based on &#8220;demand futility&#8221;. In
the Original lawsuit, the Company filed a cross complaint against the plaintiff and other third parties. Recently, the court has scheduled
various hearings and a trial date set for December 27, 2021 which was later continued by the Court to September 28, 2022. It was the
Company&#8217;s intention to dividend its holdings of its wholly owned subsidiary Ugopherservices Corp. (&#8220;UGO&#8221;). As UGO is
the main dispute in the litigations described above, the Company has elected to sell UGO to a third-party effective July 1, 2020 (See
Note 3). On September 17, 2020, the Company terminated Greg Bauer as consultant (resulting from the sale of UGO), which he confirmed
in writing. On or about June 14, 2021 the Company stipulated with plaintiff that all third parties will be released and plaintiff may
file a new first amendment complaint that will name only the Company. As such, all third parties other than prior transfer agent of the
Company have been dismissed from this litigation. We are in default on this note.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Following
the sale of UGO, the Company noticed third parties (including SURG, via its asset manager) to wire the UGO funds to its new bank account.
SURG never answered the notice. SURG is the clearing house for UGO. The Company noticed certain third parties that it intends to take
legal actions to resolve this issue. On November 12, 2020 the Company filed a complaint in the United States District Court &#8211; District
of Nevada - Case 2:20-cv-02078 against RWJ, Mr. Bauer, Mr. Jackson and against W.L. Petrey Wholesale Company Inc for fraud, breach of
contract, Unjust Enrichment and other claims. On January 28, 2022 the court awarded the Company with injunction against RWJ defendants,
where all fee funds generating from resale should be deposited into GBT blocked account, and therefore RWJ defendants cannot use these
funds without court order, neither the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"><b>ITEM
4. MINE SAFETY DISCLOSURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Not
Applicable.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><b>ITEM
5. OTHER INFORMATION</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
January 28, 2022,&#160;the&#160;Company&#160;entered into a Stock Purchase Agreement with Marko Radisic (the &#8220;Seller&#8221;) and
Touchpoint Group Holdings, Inc. (&#8220;TGHI&#8221;) pursuant to which the Company acquired 10,000 shares of Series A Convertible Preferred
Stock (the &#8220;Touchpoint Preferred&#8221;) from the Seller $125,000. The Touchpoint Preferred is convertible into 10,000,000 shares
of common stock of Touchpoint. On February 22, 2022, the Company entered into an Intellectual Property License and Royalty Agreement
with<b>&#160;</b>Touchpoint Group Holdings, Inc. (&#8220;Touchpoint&#8221; or &#8220;TGHI&#8221;) pursuant to which the Company granted
TGHI a worldwide license for its technologies for a term of five years in the domains of Internet of Things (IoT) and Artificial Intelligence
enabled mobile technologies pertaining to the Company&#8217;s digital currency technology (the &#8220;Technology&#8221;). GBT will charge
TGHI earned royalties based on actual uses by TGHI of the Technology resulting from revenue attributable to the use, performance or other
exploitation of the Technology, to the extent applicable, after deducting any taxes that the Company may be required to collect, and
deducting any international sales, goods and services, value added taxes or similar taxes which the Company is required to pay, if any,
excluding deductions for taxes on the Company net income. TGHI agreed to issue the Company 10,000,000 shares of common stock of TGHI
in the fair value of $50,000 as a one-time fee in consideration of the Company entering this Intellectual Property License and Royalty
Agreement, which was booked as other related party income. The Company have yet to earn any royalty income in relation to this agreement
as of June 30, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">TGHI
converted the Touchpoint Preferred into 10,000,000 shares of common stock of Touchpoint on February 23,2022 resulting in the Company
owning 20,000,000 shares of common stock of Touchpoint at this time.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Magic
Agreement</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation (&#8220;Greenwich&#8221;), entered
into a Master Joint Venture and Territorial License Agreement (the &#8220;Tokenize Agreement&#8221;) with Magic Internacional Argentina
FC, S.L. (&#8220;Magic&#8221;) and Tokenize which replaced a prior joint venture entered between the parties.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
purpose of Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile chip
technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking, IT services,
business process outsourcing development services, customer service, technical support and quality assurance for business, customizable
and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups (&#8220;Technology
Portfolio&#8221;), throughout the world, which Technology Portfolio was previously licensed to the Company for the State of California.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
Tokenize Agreement provides that the Company shall contribute 150,000,000 shares of common stock of the Company (&#8220;GBT Shares&#8221;)
to Tokenize. Sergio Fridman is the manager of Magic and the beneficial owner of all outstanding securities of Magic. Magic will contribute
cash of $250,000 into Tokenize for a promissory note and agreed to further fund Tokenize with all funds reasonably needed for implementation
of the business purposes as described in the Tokenize Agreement. The GBT Shares will not be transferable for a period of five years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">Magic
and the Company each own 50% of the outstanding shares of common stock of Tokenize. The Company pledged its 50% ownership in Tokenize
and its 100% ownership of Greenwich (the &#8220;Pledged Securities&#8221;) to Magic for providing that Magic may take possession of such
Pledged Securities in the event the Company executes, delivers and performs any future agreement or document or judgement resulting in
the creation of any lien, pledge, mortgage, claim, charge or encumbrance upon any assets of the Company. The Company shall appoint two
directors and Magic shall appoint one director of Tokenize.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Metaverse
Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
June 10, 2022, the Company, entered into a Joint Venture and Territorial License Agreement (the &#8220;Metaverse Agreement&#8221;) with
Ildar Gainulin and Maria Belova (&#8220;IGMB&#8221;). Under the Metaverse Agreement, the parties formed Metaverse Kit Corp., a Nevada
corporation (&#8220;Metaverse Kit&#8221;). The purpose of Metaverse Kit is to develop, maintain and support source codes for its proprietary
technologies and comprehensive platform that combines a core virtual reality platform and an extended set of real-world functions to
provide a metaverse experience initially within the area of sports and then expanding into virtual worlds of entertainment, live events,
gaming, communications and other cross over product opportunities (the &#8220;Meta Portfolio&#8221;). Under the Metaverse Agreement,
IGMB agreed to provide Metaverse Kit with the licensed technology and expertise, as requested and mutually agreed to by Company and IGMB.
In connection therewith, the parties entered an Asset Purchase Agreement concurrently with the Metaverse Agreement whereby IGMB sold
Metaverse Kit all source codes pertaining to the Meta Portfolio. Further, IGMB provided an exclusive license to Metaverse Kit throughout
the world for the invented product/service and the related platforms relating to the Meta Portfolio and to use the know how to develop,
manufacture, sell, market and distribute the Meta Portfolio throughout the world The Company shall contribute 500,000,000 shares of common
stock of the Company (&#8220;GBT Shares&#8221;) to Metaverse Kit. IGBM and the Company will each own 50% of Metaverse Kit. The Company
pledged its 50% ownership in Metaverse Kit to Igor 1 Corp. to secure a convertible note held by Igor 1 Corp. The Company shall appoint
two directors and IGBM shall appoint one director of Metaverse Kit.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">In
addition, Metaverse Kit, IGMB and Elentina Group, LLC (&#8220;Elentina&#8221;) entered into a Consulting Agreements in which IGBM and
Elentina, each were engaged to provide services for $25,000 per month payable quarterly which may be paid in shares of common stock calculated
by the amount owed divided by the Company&#8217;s 10-day VWAP. IGBM and Elentina will provide services in connection with the development
of the business as well as Metaverse Kit&#8217;s capital raising efforts. The term of the Consulting Agreement is two years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">The
closing of the Metaverse Agreement occurred on June 13, 2022 and the Company recorded par value of $5,000 as on the closing date.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white">On
June 16, 2022 </span><span style="font: 10pt Times New Roman, Times, Serif">the parties amended the Meta Agreement
to further define the constitution of the Board of Directors. As such, Section 4.2 of the Meta Agreement was amended and restated to
provide that the Board of Metaverse Kit Corp. shall consist of two Directors, one of whom shall be appointed by Ildar Gainulin and Maria
Belova and the other shall be appointed by the Company.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>Revenue
Sharing Agreement</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement (&#8220;RSA&#8221;) with Mahaser LTD.
(&#8220;Mahaser&#8221;) pursuant to which the Company acquired the opportunity to share in revenues generated by Mahaser with respect
to e-commerce sales through the online retail platform in the United States of America. Mahaser owns an e-commerce platform as a store
which is the legal, exclusive owner of Ravenholm Electronics. The Company will operate the e-commerce platform and will be entitled to
95% for all revenue generated by and received by Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides
that the Company will be entitled to appoint a manager to Mahaser. As consideration, the Company will pay Mahaser $100,000&#160;no later
than March 1, 2022 and issue Mahaser&#160;1,000,000&#160;shares of the Company&#8217;s restricted common stock. The Company shall have
no obligations to make any further payments to Mahaser. For any further extensions, the Company will have the option to extend the RSA
for annual payment of $200,000, which can be payable with the Company&#8217;s shares of common stock payable based on 20 days VWAP prior
to issuance.&#160;On March 16, 2022 the parties entered into Amendment No. 1 to the to the RSA, where all consideration to be paid or
issued to Mahaser will be deferred until such time where the e-commerce platform generated in cumulative revenue of $1,000,000. On March
31, 2022, the parties entered into Amendment No. 2 to the RSA, where Mahaser agreed to pay the Company 100% per year for all revenue
generated by and received by seller from the sales by Amazon within the United States of America as follows for the period from March
1, 2022 through December 31, 2022. The Company will be responsible for 100% of the cost of goods sold as well. In addition, the Company
is entitled to earn 100% revenues and cost of goods sold of the test run period from February 1, 2022 to February 28, 2022.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i><span style="text-decoration: underline">Assignment
of lease agreement</span></i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><i>&#160;</i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">On
May 17, 2022, Mahaser LLC (&#8220;Assignee&#8221;) entered into an assignment and assumption of lease agreement by and between 2819 Coldwater
LLC (&#8220;Assignor&#8221;), Sunset Place Holdings LLC (&#8220;Lessor&#8221;) and Yossi Attia (&#8220;Guarantor&#8221;). Pursuant to
the agreement, Lessor agreed to lease to Assignor certain Standard Industrial/Commercial Multi-Tenant Lease &#8211; Gross agreement dated
February 7, 2022 (the &#8220;Lease&#8221;) and expiring on January 31, 2024, which premises commonly known as 8265 Sunset Boulevard,
Suite #107, West Hollywood, CA 90046. The base rent payment shall equal $4,100 per month and share of common area operating expense shall
equal $200 per month. Guarantor has guaranteed payment of Assignor&#8217;s obligations under the Lease and Assignor assigned all of its
right, title and interest in the Lease to Assignee and Assignee assumed Assignor&#8217;s obligations under the Lease.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;&#160;</span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif; background-color: white"><b>ITEM
6. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>Previous
independent registered public accounting firm </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
May 27, 2022 (the &#8220;Termination Date&#8221;), the Company terminated BF Rogers CPA PC (the &#8220;Former Auditor&#8221;) as the
independent registered public accounting firm of the Company. Other than an explanatory paragraph included in the Former Auditor&#8217;s
audit report for the Registrant&#8217;s fiscal years ended December 31, 2021 and 2020 relating to the uncertainty of the Company&#8217;s
ability to continue as a going concern, the audit reports of the Former Auditor on the Company&#8217;s financial statements for the fiscal
years ended December 31, 2021 and 2020 did not contain an adverse opinion or disclaimer of opinion, and such reports were not qualified
or modified as to uncertainty, audit scope, or accounting principle. During the years ended December 31, 2021 and 2020 and through the
date of this Current Report on Form 8-K, the Company has not had any disagreements with the Former Auditor on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the Former
Auditor&#8217;s satisfaction, would have caused them to make reference thereto in their reports on the Company&#8217;s financial statements
for such years.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">During
the years ended December 31, 2021 and 2020 and through the date of the Termination Date, there were no reportable events, as defined
in Item 304(a)(1)(v) of Regulation S-K.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">The
Company requested our Former Auditor furnish us with a letter addressed to the Securities and Exchange Commission stating whether it
agrees with the above statements, which they did.</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><i>New
independent registered public accounting firm </i></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">On
May 27, 2022 (the &#8220;Engagement Date&#8221;), the Company engaged M.S. Madhava Rao (&#8220;New Auditor&#8221;) as its independent
registered public accounting firm for the Company&#8217;s fiscal year ended December 31, 2022. The decision to engage the New Auditor
as the Company&#8217;s independent registered public accounting firm was approved by the Company&#8217;s Board of Directors. During the
two most recent fiscal years and through the Engagement Date, the Company has not consulted with the New Auditor regarding either:</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">1.
application of accounting principles to any specified transaction, either completed or proposed, or the type of audit opinion that might
be rendered on the Company&#8217;s financial statements, and neither a written report was provided to the Company nor oral advice was
provided that the New Auditor concluded was an important factor considered by the Company in reaching a decision as to the accounting,
auditing or financial reporting issue; or</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">2.
any matter that was either the subject of a disagreement (as defined in Regulation S-K, Item 304(a)(1) (iv) and the related instructions)
or reportable event (as defined in Regulation S-K, Item 304(a)(1)(v)).</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; background-color: white"><span style="font: 10pt Times New Roman, Times, Serif"><b>ITEM</b>&#160;
<b>7. EXHIBITS, FINANCIAL STATEMENT SCHEDULES</b></span></p>

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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Exhibit</b><br />
    <b>No.</b></span></td>
    <td style="vertical-align: top; width: 2%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 90%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
  </table>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 8%; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>No.</b></span></td>
    <td style="vertical-align: top; width: 2%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 90%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>Description</b></span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.1</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376209001650/ex31.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Incorporation of Forex International Trading Corp. (1)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.2</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376209001650/ex32.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Bylaws of Forex International Trading Corp. (1)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.3</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376211000933/ex33.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation for Series A Preferred Stock (2)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.4</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376212001064/ex34.pdf"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation for Series B Preferred Stock (3)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.5</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376212001875/ex31.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation &#8211; Series C Preferred Stock (4)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.6</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376212002195/ex36.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment to the Certificate of Designation for the Series B Preferred Stock (5)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.7</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376212002195/ex37.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment to the Certificate of Designation for the Series C Preferred Stock(5)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.8</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577415000320/s100779_ex3-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Change filed pursuant to NRS 78.209 (6)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.9</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577415000320/s100779_ex3-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Articles of Merger filed pursuant to NRS 92.A.200 (6)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.10</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577415000855/s101025_ex3-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment to the Articles of Incorporation of Gopher Protocol Inc. (8)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.11</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000387/e1428_3-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Change dated July 10, 2019 (23)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.12</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000387/e1428_3-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Articles of Merger by and between Gopher Protocol Inc. and GBT Technologies Inc. dated July 10, 2019(23)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.13</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000387/e1428_3-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Correction to the Certificate of Change (24)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.14</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000433/e1453-ex3_4.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Correction to the Articles of Merger by and between Gopher Protocol Inc. and GBT Technologies Inc. dated July 10, 2019 (24)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.15 </span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000560/e1512_3-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Amendment to the Articles of Incorporation of GBT Technologies Inc. dated September 23, 2019(26)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.16</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000101376212001064/ex34.pdf"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation for Series B Preferred Stock (7)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.17</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418000063/s108623_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Certificate of Designation of the Preferences, Rights and Limitations of the Series G Convertible Preferred Stock (15)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">3.18</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000338/e1401-4_1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Series H Convertible Preferred Stock Certificate of Designation (21)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.1</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577417004947/s107414_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Warrant issued to Robert Warren Jackson, Gregory Bauer, Michael Murray and Guardian Patch, LLC dated September 1, 2017 (14)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.2</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577417004947/s107414_ex4-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Balloon Note payable by Gopher Protocol Inc. to RWJ Advanced Marketing, LLC dated September 1, 2017 (14)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.3</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418002019/s109398_ex10-4.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Form of Warrant issued to Derron Winfrey, Dennis Winfrey, Mark Garner and JIL Venture dated March 1, 2018 (16)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.4</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418002019/s109398_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Note payable by Gopher Protocol Inc. to ECS, LLC dated March 1, 2018 (16)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.5</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418002705/s109699_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Option issued to Kevin Pickard dated April 16, 2018 (17)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.6</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418002932/s109804_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Option issued to Muhammad Khilji dated April 25, 2018 (18)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.7</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000338/e1401-4_2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">6% Convertible Note payable to Pablo Gonzalez dated June 17, 2019 (21)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.8</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000378/e1423_4-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible Note payable to Glen Eagles Acquisition LP (22)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.9</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000378/e1423_4-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment to Common Stock Purchase Warrant between Gopher Protocol Inc. and Glen Eagles Acquisition LP (22)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.10</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000763/e2038_4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Second Amendment to Promissory Note between GBT Technologies Inc. and Ilaid Research and Trading LP dated July 20, 2020 (29)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.11</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000825/e2066_4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible Promissory Note August 4, 2020 issued to Redstart Holdings Corp. (30)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.12</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221000931/e2786_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fourth Amendment to Promissory Note between GBT Technologies Inc. and Iliad Research and Trading, L.P. dated May 14, 2020 &#8211; Executed May 19, 2021(31)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.13</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221000985/e2815_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible Promissory Note May 26, 2021 issued to Redstart Holdings Corp. &#8211; Executed on May 27, 2021 (32)</span></a></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0">&#160;</p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

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<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top">
    <td style="width: 8%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.14</span></td>
    <td style="width: 2%; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="width: 90%; text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221001423/e3055_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Fifth Amendment to Promissory Note between GBT Technologies Inc. and Iliad Research and Trading LP dated August 19, 2021 executed August 20, 2021 (33)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.15</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221001608/e3135_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible Promissory Note September 21, 2021 issued to Redstart Holdings Corp. &#8211; Executed on September 24, 2021, and Funded on September 28, 2021&#160;(34)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.16</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221001608/e3135_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended Loan Authorization and Agreement between GBT Technologies Inc. and U.S. Small Business Administration dated October 1, 2021 (35)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.17</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221001841/e3261_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible Promissory Note dated November 8, 2021 issued to Sixth Street Lending LLC (36)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.18</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222000544/e3618_ex4-18.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Description of Securities (40)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">4.19</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222000849/e3760_ex4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Convertible Promissory Note dated May 4, 2022 issued to 1800 Diagonal Lending LLC (42)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.1</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577415000456/s100846_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Territorial License Agreement dated March 4, 2015, by and between Gopher Protocol Inc. and Hermes Roll LLC (7)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.2</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577415001510/s101339_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated Territorial License Agreement dated June 16, 2015 by and between Gopher Protocol Inc. and Hermes Roll LLC (9)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.3</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577415002358/s101739_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter Agreement dated August 20, 2015 by and between Gopher Protocol Inc. and Dr. Danny Rittman (10)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.4</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577416005052/s103059_10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter Agreement dated March 14, 2016 by and between Gopher Protocol Inc. and Dr. Danny Rittman. (11)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.5</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577416005052/s103059_10-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amended and Restated Employment Agreement by and between Gopher Protocol Inc. and Dr. Danny Rittman dated April 19, 2016 (12)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.6</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577417003432/s106720_ex10-4.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter Agreement between the Company and Danny Rittman dated June 29, 2017 (13)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.7</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577417004947/s107414_ex4-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset Purchase Agreement between Gopher Protocol Inc. and RWJ Advanced Marketing, LLC dated September 1, 2017 (14)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.8</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577417004947/s107414_ex10-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Addendum to Asset Purchase Agreement between Gopher Protocol Inc. and RWJ Advanced Marketing, LLC dated September 1, 2017 (14)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.9</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577417004947/s107414_ex10-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Agreement between Gopher Protocol Inc. and Gregory Bauer dated September 1, 2017 (14)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.10</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418002019/s109398_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Asset Purchase Agreement between Gopher Protocol Inc. and ECS Prepaid LLC dated March 1, 2018 (16)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.11</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418002019/s109398_ex10-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Agreement between Gopher Protocol Inc. and Derron Winfrey dated March 1, 2018(16)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.12</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418002019/s109398_ex10-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Employment Agreement between Gopher Protocol Inc. and Mark Garner dated March 1, 2018(16)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.13</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418009230/s112546_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Agreement between Gopher Protocol Inc. and Mobiquity Technologies, Inc. dated September 4, 2018 (19)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.14</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418009635/s112747_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exclusive Intellectual Property License and Royalty Agreement between Gopher Protocol Inc. and GBT Technologies, S.A. dated September 14, 2018 (20)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.15</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418009635/s112747_ex10-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter Agreement between Gopher Protocol Inc. and Dr. Danny Rittman dated September 14, 2018 (20)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.16</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000161577418009230/s112546_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Exchange Agreement entered into between Gopher Protocol Inc., Altcorp Trading LLC, GBT Technologies, S.A., a Costa Rica company and Pablo Gonzalez dated June 17, 2019 (21)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.17</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000378/e1423_10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consulting Agreement entered into between Gopher Protocol Inc. and Glen Eagles Acquisition LP (22)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.18</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000437/e1456_10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter Agreement between Mobiquity Technologies, Inc. and GBT Technologies Inc. executed August 2, 2019 Delivered August 6, 2019 (39)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.19</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000551/e1508_10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Purchase Agreement between Mobiquity Technologies, Inc. and GBT Technologies Inc. Dated September 10, 2019 (25)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.20</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112219000551/e1508_10-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Stock Purchase Agreement between Marital Trust GST Subject U/W/O Leopold Salkind and GBT Technologies Inc. dated September 10, 2019 (25)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.21</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000228/e1780_4-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Letter Agreement between GBT Technologies Inc. and Stanley Hills LLC dated February 26, 2020&#160;(27)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.22</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000228/e1780_4-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Amendment to Promissory Note between GBT Technologies Inc. and Iliad Research and Trading, L.P. dated February 27, 2020 (27)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.23</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000228/e1780_99-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Order dated February 27, 2020 issued by the United States District Court District of Nevada (27)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.24</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000246/e1797_10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Joint Venture and Territorial License Agreement by and between GBT Technologies Inc. and Tokenize-It S.A. dated March 6, 2020 (28)</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.25</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000246/e1797_10-2.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consulting Agreement by and between Pablo Gonzalez and GBT Tokenize Corp. dated March 6, 2020 (28)&#160;</span></a></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.26</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000246/e1797_10-3.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Pledge Agreement by and between GBT Tokenize Corp. and Tokenize-It S.A., dated March 6, 2020 (28)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.27</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112220000825/e2066_10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities Purchase Agreement dated August 4, 2020 between GBT Technologies Inc. and Redstart Holdings Corp. (30)</span></a></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">10.28</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
    <td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221001841/e3261_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Securities Purchase Agreement dated November 8, 2021 between GBT Technologies Inc. and Sixth Street Lending LLC (36)</span></a></td></tr>
  </table>
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<td style="width: 8%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.29</span></td>
<td style="width: 2%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="width: 90%; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221002158/e3369_ex10-1.htm">Equity Financing Agreement between GBT Technologies Inc. and GHS Investments LLC dated December 17, 2021 (37)</a></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.30</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221002158/e3369_ex10-2.htm">Registration Rights Agreement between GBT Technologies Inc. and GHS Investments LLC dated December 17, 2021 (37)</a></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.31 </span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112221002207/e3390_ex99-1.htm">Resolution of Purchase, Mutual Release and Settlement Agreement by and among GBT Technologies Inc. and Parties Listed Therein&#160;December 22, 2021(38)</a></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.33</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222000046/e3414_ex10-33.htm">Form of Claim Purchase Agreement dated April 12, 2022 (41)</a></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.34</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222000046/e3414_ex10-33.htm">Finders Fee Agreement between JH Darbie &amp; Co. and GBT Technologies Inc. dated October 14, 2021 (39)</a></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.35</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222000725/e3710_ex10-2.htm">Master Joint Venture and Territorial License Agreement by and between GBT Technologies Inc. and Magic International Argentina FC SL (41)</a></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.36</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222000725/e3710_ex10-3.htm">Pledge Agreement by and between GBT Tokenize Corp and Magic International Argentina FC SL (41)</a></span></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.37</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222000849/e3760_ex10-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Securities Purchase Agreement dated May 4, 2022 between GBT Technologies Inc. and 1800 Diagnol Lending LLC (42)</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.38</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001073/e3828_ex10-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Joint Venture and Territorial License Agreement by and between GBT Technologies Inc. and Ildar Gainulin and Maria Belova. </span><span style="font: 10pt Times New Roman, Times, Serif">(43)</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.39</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001073/e3828_ex10-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Asset Purchase Agreement by and between Metaverse Kit Corp and Ildar Gainulin and Maria Belova (43)</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.40</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001073/e3828_ex10-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Consulting Agreement by and between Metaverse Kit Corp and Ildar Gainulin and Maria Belova&#160;(43) </span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.41</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001073/e3828_ex10-1.htm"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Consulting Agreement between Metaverse Kit Corp and Elentina Group, LLC(43)</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.42</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001073/e3828_ex10-5.htm">Pledge Agreement by and between GBT Technologies Inc. and Igor 1 Corp. (43)<span style="font: 10pt Times New Roman, Times, Serif"></span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.43</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001094/e3846_ex10-1.htm">Amendment No. 1 to the Joint Venture and Territorial License Agreement by and between Ildar Gainulin and Maria Belova and GBT Technologies Inc. (44)</a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify">10.44</td>
<td style="text-align: justify">&#160;</td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001094/e3846_ex10-2.htm">Amendment No. 1 to the Joint Venture and Territorial License Agreement by and between Magic Internacional Argentina FC, SL and GBT Technologies Inc. (44)</a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">10.45</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="http://www.sec.gov/Archives/edgar/data/1471781/000173112222001094/e3846_ex10-3.htm"><span style="font: 10pt Times New Roman, Times, Serif">Amendment No. 1 to the Joint Venture Agreement by and between Bitspeed LLC and GBT Technologies Inc. (44)</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">31.1</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="e3961_ex31-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Certification of Chief Executive Officer (Principal Executive and Financial Officer) pursuant to Rule 13a-14(a) or Rule 15d-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.</span></a></td></tr>
<tr style="vertical-align: top">
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">32.1</span></td>
<td style="text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></td>
<td style="text-align: justify"><a href="e3961_ex32-1.htm"><span style="font: 10pt Times New Roman, Times, Serif">Certification of Chief Executive Officer (Principal Executive and Financial Officer) pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.</span></a></td></tr>
</table>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span>&#160;</p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top; background-color: white">
    <td style="width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(1)</span></td>
    <td style="text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form S-1 Registration Statement filed with the SEC on September 9, 2009.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(2)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 10-K Annual Report filed with the Securities and Exchange Commission on April 6, 2011</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(3)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on May 14, 2012</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(4)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 27, 2012.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(5)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on November 20, 2012.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(6)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on February 18, 2015</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(7)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 12, 2015</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(8)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on May 1, 2015</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(9)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 16, 2015</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(10)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on August 21, 2015</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(11)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 20, 2016</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(12)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 20, 2016</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(13)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 30, 2017</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(14)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 7, 2017</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(15)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on January 3, 2018</span></td></tr>
  </table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font: 10pt Times New Roman, Times, Serif">&#160;</span></p>


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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font: 10pt Times New Roman, Times, Serif"></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify; width: 10%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(16)</span></td>
    <td style="text-align: justify; width: 90%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 21, 2018</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(17)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 18, 2018</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(18)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 26, 2018.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(19)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 9, 2018.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(20)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 18, 2018.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(21)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on June 19, 2019.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(22)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on July 12, 2019.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(23)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on July 15, 2019.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(24)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form -8-K Current Report filed with the Securities and Exchange Commission on August 5, 2019.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(39)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on August 7, 2019.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(25)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 16, 2019.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(26)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 25, 2019.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(27)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 2, 2020.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(28)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 11, 2020.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(29)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on July 24, 2020.</span></td></tr>
  <tr style="vertical-align: top; background-color: white">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(30)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on August 10, 2020.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(31)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on May 21, 2021.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(32)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 1, 2021.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(33)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on August 23, 2021.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(34)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 29, 2021.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(35)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on October 6, 2021.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(36)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on November 11, 2021</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(37)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on December 20, 2021</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(38)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on December 28, 2021</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(39) </span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form S-1 Registration Statement filed with the Securities and Exchange Commission on January 12, 2022 </span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(40)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 10-K Annual Report filed with the Securities and Exchange Commission on March 25, 2022</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(41)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 18, 2022</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(42)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on May 10, 2022</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(43)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 15, 2022.</span></td></tr>
  <tr style="vertical-align: top">
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(44)</span></td>
    <td style="text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 21, 2022.</span></td></tr>

  </table>

<p style="margin-top: 0; margin-bottom: 0"><span style="font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p>

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    <div style="break-before: page; margin-top: 6pt; margin-bottom: 6pt"><p style="margin: 0pt">&#160;</p></div>
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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="a_012"></span>SIGNATURES</b></span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">In
accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned,
there unto duly authorized.</span></p>


<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<table cellspacing="0" cellpadding="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GBT TECHNOLOGIES INC.</b></span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td colspan="2"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Registrant)</span></td></tr>
<tr style="vertical-align: top">
<td style="width: 50%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 5%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td style="width: 45%"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Date: August 10, 2022</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">By:</span></td>
<td style="border-bottom: black 1pt solid"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">/s/ Mansour Khatib</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Mansour Khatib</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td>&#160;</td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Chief Executive Officer</span></td></tr>
<tr style="vertical-align: top">
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></td>
<td>&#160;</td>
<td><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">(Principal Executive, Financial and Accounting Officer)</span></td></tr>
</table>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>

<p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">69</span></p>



<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p>

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<p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">&#160;</span></p>























































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{"company-data": {"conformed-name": "GBT Technologies Inc.", "cik": "0001471781", "assigned-sic": "8742", "irs-number": "270603137", "state-of-incorporation": "NV", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "10-Q", "act": "34", "file-number": "000-54530", "film-number": "221150255"}, "business-address": {"street1": "2500 BROADWAY SUITE F125", "city": "SANTA MONICA", "state": "CA", "zip": "90404", "phone": "424-238-4589"}, "mail-address": {"street1": "2500 BROADWAY SUITE F125", "city": "SANTA MONICA", "state": "CA", "zip": "90404"}, "former-company": [{"former-conformed-name": "Gopher Protocol Inc.", "date-changed": "20150225"}, {"former-conformed-name": "Forex International Trading Corp.", "date-changed": "20090908"}]}
United
States
Securities
and Exchange Commission
Washington,
D.C. 20549
Form
10-Q
(Mark One)
☒
QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
For the quarterly period ended
June 30, 2022
☐
TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
Commissions
file number:
000-54530
GBT TECHNOLOGIES INC.
(Exact
name of registrant as specified in its charter)
Nevada
27-0603137
State or other jurisdiction of
I.R.S. Employer Identification Number
incorporation or organization
2450 Colorado Ave.
,
Suite 100E
,
Santa Monica
,
CA
90404
(Address
of principal executive offices)
Issuer 's telephone number:
888
-
685-7336
Securities
registered pursuant to Section 12(b) of the Act: Not applicable.
Title of each class
Trading Symbol
Name of each exchange on which registered
Not applicable.
Indicate
by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange
Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)
has been subject to such filing requirements for the past 90 days.
Yes
☒ No ☐
Indicate
by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule
405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant
was required to submit such files).
Yes
☒ ☐ No
Indicate
by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting
company. See the definitions of "large accelerated filer," "accelerated filer" and "smaller reporting company"
in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐
Accelerated filer ☐
Non-accelerated filer
☒
Smaller reporting company
☒
Emerging growth company
☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate
by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of Exchange Act). Yes ☐
No
☒
State
the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:
Common Stock,
$0.00001 par value
1,127,741,469
Common
Shares
(Class)
(Outstanding at August 10, 2022)
GBT
TECHNOLOGIES INC.
TABLE
OF CONTENTS
PART I.
Financial Information
Page
Item 1.
Condensed Consolidated Financial Statements (unaudited)
2
Condensed Consolidated Balance Sheets as of June 30, 2022 and December 31, 2021(audited)
2
Condensed Consolidated Statements of Operations for the Three and Six months Ended June 30, 2022 and 2021 (unaudited)
3
Condensed Consolidated Statements of Stockholder's Deficit for the Six months Ended June 30, 2022 and 2021 (unaudited)
4
Condensed Consolidated Statements of Cash Flows for the Six months Ended June 30, 2022 and 2021 (unaudited)
6
Notes to Condensed Consolidated Financial Statements (unaudited)
7
Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
40
Item 3.
Quantitative and Qualitative Disclosures about Market Risk
54
Item 4.
Controls and Procedures
54
PART II.
Other Information
55
Signatures
69
1
Item
1: Condensed consolidated financial statements
GBT TECHNOLOGIES INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
ASSETS
June 30,
December 31,
2022
2021
(Unaudited)
(Audited)
Current
Assets:
Cash
$
74,110
$
155,106
Restricted cash
390,326
—
Cash held in trust
—
112,942
Inventory
17,053
—
Note receivable
102,164
—
Other receivable
—
3,750,000
Other current assets
43,872
Marketable securities
87,164
—
Total current assets
714,689
4,018,048
Total assets
$
714,689
$
4,018,048
LIABILITIES
AND STOCKHOLDERS' DEFICIT
Current
Liabilities:
Accounts payable
and accrued expenses (including related parties of $
856,904
and $
2,309,255
)
$
5,448,950
$
6,896,263
Accrued settlement
4,090,057
4,090,057
Unearned revenue
249,159
249,384
Contract liabilities
46,444
—
Convertible notes
payable, current, net of discount
6,728,729
8,109,436
Convertible notes
payable,
Stanley Hills LLC
, net of discount
116,605
116,605
Notes payable,
current
2,635,256
2,612,397
Notes payable,
Alpha
140,000
140,000
Due to related
party
17,137
—
Derivative liability
5,612,746
10,192,485
Total current liabilities
25,085,083
32,406,629
Noncurrent
Liabilities:
Convertible note
payable, noncurrent, net of discount
37,271
35,797
Note payable, noncurrent
314,744
337,603
Total noncurrent
liabilities
352,015
373,400
Total liabilities
25,437,098
32,780,029
Stockholders' Deficit:
45,000
shares issued and outstanding,
Series B
Preferred stock, $
0.00001
par value;
20,000,000
shares authorized;
—
—
700
shares issued and outstanding,
Series C Preferred
stock, $
0.00001
par value;
10,000
shares authorized;
—
—
0
shares issued and outstanding,
Series D Preferred
stock, $
0.00001
par value;
100,000
shares authorized;
—
—
0
shares issued and outstanding,
Series G Preferred
stock, $
0.00001
par value;
2,000,000
shares authorized;
—
—
20,000
shares issued and outstanding,
Series H Preferred
stock, $
0.00001
par value ($500.00 stated value);
40,000
shares authorized;
—
—
Common
stock, $
0.00001
par value;
2,000,000,000
shares authorized;
977,741,469
and
5,133,489
shares issued and outstanding,
at June 30, 2022 and December 31, 2021
9,778
332
Treasury stock, at cost;
21
shares
at June 30, 2022 and December 31, 2021
(
643,059
)
(
643,059
)
Stock loan receivable
(
7,610,147
)
(
7,610,147
)
Additional paid
in capital
287,617,690
284,072,666
Accumulated deficit
(
304,096,671
)
(
304,581,773
)
Total stockholders'
deficit
(
24,722,409
)
(
28,761,981
)
Total liabilities
and stockholders' deficit
$
714,689
$
4,018,048
The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.
2
GBT TECHNOLOGIES INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended June 30,
Six Months Ended June 30,
2022
2021
2022
2021
Sales
$
344,981
$
—
$
569,951
$
—
Sales - related party
—
45,000
45,000
90,000
Cost of goods sold
179,471
—
388,458
—
Gross profit
165,510
45,000
226,493
90,000
Operating expenses:
General and administrative
241,869
559,910
371,252
1,208,257
Marketing
92,168
140,303
433,300
332,214
Professional
592,305
—
1,128,192
—
Impairment of assets
—
15,400,000
—
15,400,000
Total operating expenses
926,342
16,100,213
1,932,744
16,940,471
Loss from operations
(
760,832
)
(
16,055,213
)
(
1,706,251
)
(
16,850,471
)
Other income (expense):
Amortization of debt discount
(
239,394
)
(
145,297
)
(
307,879
)
(
466,637
)
Change in fair value of derivative liability
(
2,088,840
)
3,649,274
3,150,739
(
793,186
)
Interest expense and financing costs
(
233,900
)
(
304,939
)
(
469,393
)
(
1,147,490
)
Unrealized (loss) on marketable equity security
—
(
726,000
)
—
—
Realized gain on marketable equity security
—
11,000
—
11,000
Loss on debt modification
—
(
13,777,480
)
—
(
13,777,480
)
Gain on SURGE settlement
—
300,000
—
—
Gain on Bad Debt
50,000
—
50,000
—
Change in fair value of marketable securities
(
175,000
)
—
(
240,000
)
—
Other income - related party licensing income
6,828
—
7,885
600,000
Total other income (expense)
(
2,680,306
)
(
10,993,442
)
2,191,352
(
15,573,793
)
Gain (Loss) before income taxes
(
3,441,137
)
(
27,048,655
)
485,102
(
32,424,264
)
Income tax expense
—
—
—
—
Gain (Loss) from continuing operations
(
3,441,137
)
(
27,048,655
)
485,102
(
32,424,264
)
Net (loss) Income
$
(
3,441,137
)
$
(
27,048,655
)
$
485,102
$
(
32,424,264
)
Weighted average common shares outstanding:
Basic
354,196,118
759,525,411
354,381,392
581,344,884
Diluted
4,526,076,373
759,525,411
4,526,261,647
581,344,884
Net loss per share (basic and diluted):
Basic
$
(
0.01
)
$
(
0.04
)
$
0.00
$
(
0.06
)
Diluted
(
0.00
)
(
0.04
)
0.00
(
0.06
)
The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.
3
GBT
    TECHNOLOGIES INC.
CONDENSED
    CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
(unaudited)
Series B Convertible Preferred Stock
Series C Convertible Preferred Stock
Series H Convertible Preferred Stock
Common Stock
Treasury Stock
Stock Loan
Additional Paid-in
Accumulated
Total Stockholders' Equity/
Shares
Amount
Shares
Amount
Shares
Amount
Shares
Amount
Shares
Amount
Receivable
Capital
Deficit
(Deficit)
Balance, December 31, 2021
45,000
$
—
700
$
—
20,000
$
—
33,200,198
$
332
$
1,040
$
(
643,059
)
$
(
7,610,147
)
$
284,072,666
$
(
304,581,773
)
$
(
28,761,981
)
Common stock issued for conversion of convertible debt and accrued interest
—
—
—
—
—
—
369,198
4
—
—
—
34,996
—
35,000
Fair value of beneficial conversion feature of converted
—
—
—
—
—
—
—
—
—
—
—
49,504
—
49,504
Common stock issued for cash
—
—
—
—
—
—
463,303
4
—
—
—
68,304
—
68,308
Net loss
—
—
—
—
—
—
—
—
—
—
—
—
3,926,239
3,926,239
Balance, March 31, 2022
45,000
$
—
700
$
—
20,000
$
—
34,032,699
$
340
$
1,040
$
(
643,059
)
$
(
7,610,147
)
$
284,225,470
$
(
300,655,534
)
$
(
24,682,930
)
Common stock issued for conversions
—
—
—
—
—
—
288,672,073
2,887
—
—
—
1,663,973
—
1,666,861
Fair value of derivative liability due to conversions
—
—
—
—
—
—
—
—
—
—
—
1,571,238
—
1,571,238
Common stock issued for cash
—
—
—
—
—
—
5,036,697
50
—
—
—
163,508
—
163,559
Common stock issued for JV - Tokenize
—
—
—
—
—
—
150,000,000
1,500
—
—
—
(
1,500
)
—
—
Common stock issued for JV - Meta
—
—
—
—
—
—
500,000,000
5,000
—
—
—
(
5,000
)
—
—
Net loss
—
—
—
—
—
—
—
—
—
—
—
—
(
3,441,137
)
(
3,441,137
)
Balance, June 30, 2022
45,000
$
—
700
$
—
20,000
$
—
977,741,469
$
9,777
$
1,040
$
(
643,059
)
$
(
7,610,147
)
$
287,617,690
$
(
304,096,671
)
$
(
24,722,409
)
The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.
4
GBT
    TECHNOLOGIES INC.
CONDENSED
    CONSOLIDATED STATEMENT OF STOCKHOLDERS' DEFICIT
(unaudited)
Balance, December 31, 2020
45,000
$
—
700
$
—
20,000
$
—
5,133,489
$
51
$
2,080
$
(
1,286,118
)
$
(
15,220,294
)
$
251,046,191
$
(
270,651,339
)
$
(
27,858,303
)
Common stock issued for conversion of convertible debt and accrued interest
—
—
—
—
—
—
4,483,717
45
—
—
—
3,122,803
—
3,122,848
Common stock issued for services
—
—
—
—
—
—
245,000
2
—
—
—
281,748
—
281,750
Fair value of beneficial conversion feature of converted
—
—
—
—
—
—
—
—
—
—
—
9,207,107
—
9,207,107
Net loss
—
—
—
—
—
—
—
—
—
—
—
—
(
5,375,609
)
(
5,375,609
)
Balance, March 31, 2021
45,000
—
700
—
20,000
—
9,862,206
98
2,080
(
1,286,118
)
(
15,220,294
)
263,657,849
(
276,026,948
)
(
20,622,207
)
Common stock issued for conversion of convertible debt and accrued interest
—
—
—
—
—
—
720,311
7
—
—
—
592,698
—
592,705
Common stock issued for joint venture
—
—
—
—
—
—
14,000,000
140
—
—
—
15,399,860
—
15,400,000
Fair value of beneficial conversion feature of converted
—
—
—
—
—
—
—
—
—
—
—
522,349
—
522,349
Net loss
—
—
—
—
—
—
—
—
—
—
—
—
(
27,048,655
)
(
27,048,655
)
Balance, June 30, 2021
45,000
$
—
700
$
—
20,000
$
—
24,582,517
$
245
$
2,080
$
(
1,286,118
)
$
(
15,220,294
)
$
280,172,756
$
(
303,075,603
)
$
(
31,155,808
)
The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.
5
GBT TECHNOLOGIES INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
For the Six Months Ended June 30,
2022
2021
Cash Flows From Operating Activities:
Net income (loss)
$
485,102
$
(
32,424,264
)
Adjustments to reconcile net income (loss) to net cash
    used in operating activities:
Amortization of debt discount
307,879
466,637
Change in fair value of derivative liability
(
3,150,739
)
793,186
Excess of debt discount and financing costs
—
588,920
Shares issued for services
—
281,750
Loss on modification of debt
—
13,777,480
Impairment loss
—
15,400,000
Realized (gain) loss on market equity security
—
(
11,000
)
Payment of other income with marketable securities
—
(
600,000
)
Change in fair value of market equity security
240,000
—
Changes in operating assets and liabilities:
Other receivable
3,747,836
—
Inventory
(
60,925
)
—
Unearned revenue
(
225
)
—
Contract liabilities
(
3,556
)
—
Accounts payable and accrued expenses
(
1,330,044
)
780,829
Net cash provided by (used in) operating activities
235,328
(
946,462
)
Cash Flows From Investing Activities:
Investment to GTX
(
150,000
)
—
Investment to TGHI
(
125,000
)
—
Net cash used in investing activities
(
275,000
)
—
Cash Flows From Financing Activities:
Issuance of convertible notes
200,000
851,884
Issuance of note receivable
(
100,000
)
—
Proceeds from sales of common stock
231,865
—
Repayments to related party
(
558,379
)
—
Proceeds from related party
575,516
—
Net cash provided by financing activities
349,002
851,884
Net increase (decrease) in cash
309,330
(
94,578
)
Cash, beginning of period
155,106
113,034
Cash, end of period
$
464,436
$
18,456
Cash paid for:
Interest
$
—
$
—
Income taxes
$
—
$
—
Supplemental non-cash investing and financing activities
Debt discount related to convertible debt
$
191,741
$
396,600
Reduction in derivative liability due to conversion
$
1,620,742
$
9,729,456
Shares issued for conversion of convertible debt
$
1,701,864
$
3,715,553
Equity Method Investment
$
—
$
424,731
Share issuance for JV Metaverse
5,000
—
Share issuance for JV Tokenize
$
1,500
$
—
The accompanying footnotes are an integral part of these unaudited condensed consolidated financial statements.
6
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
1 -
Organization and Basis of Presentation
Organization
and Line of Business
GBT
Technologies Inc. (the "Company", "GBT", or "GTCH") was incorporated on July 22, 2009 under the laws
of the State of Nevada. The Company targets growing markets such as development of Internet of Things (IoT) and Artificial Intelligence
(AI) enabled networking and tracking technologies, including wireless mesh network technology platform and fixed solutions, development
of an intelligent human body vitals device, asset-tracking IoT, and wireless mesh networks. The Company derived revenues from (i) the
provision of IT consulting services; and (ii) from selling electronic products through e-commerce platforms like Amazon and eBay
for the three and six months ended June 30, 2022.
On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement ("RSA") with Mahaser LTD.
("Mahaser") pursuant to which the Company shares revenues generated by Mahaser with respect to e-commerce sales through the
online retail platform in the United States of America.
The
unaudited condensed consolidated financial statements are prepared by the Company, pursuant to the rules and regulations of the Securities
Exchange Commission ("SEC"). The information furnished herein reflects all adjustments, consisting only of normal recurring
adjustments, which in the opinion of management, are necessary to fairly state the Company's financial position, the results of
its operations, and cash flows for the periods presented. Certain information and footnote disclosures normally present in annual financial
statements prepared in accordance with accounting principles generally accepted in the United States of America were omitted pursuant
to such rules and regulations. The results of operations for the six months ended June 30, 2022 are not necessarily indicative of the
results expected for the year ending December 31, 2022.
Basis
of Presentation
The
accompanying CFS were prepared in conformity with accounting principles generally accepted in
the United States of America ("U.S. GAAP").
7
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Stock
Splits
On
October 26, 2021, the Company effectuated a
1 for 50
reverse stock split. The share and per share information were retroactively
restated to reflect this reverse stock split.
Going
Concern
The
accompanying CFS were prepared assuming that the Company will continue as a going concern. The
Company has an accumulated deficit of $
304,096,671
and a working capital deficit of $
24,370,394
as of June 30, 2022, which raises
substantial doubt about its ability to continue as a going concern.
The
Company's ability to continue as a going concern is dependent upon its ability to generate profitable operations in the future
and/or obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when
they come due. Management has plans to seek additional capital through some private placement offerings of debt and equity securities.
These consolidated financial statements do not include any adjustments relating to the recoverability and classification of recorded
asset amounts, or amounts and classification of liabilities that might result from this uncertainty.
Note
2 –
Summary of Significant Accounting Policies
Use
of Estimates
The
preparation of CFS in conformity with U.S. GAAP requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated
financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates
and assumptions. The Company bases its estimates and assumptions on current facts, historical experience and various other factors that
it believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values
of assets and liabilities and the accrual of costs and expenses that are not readily apparent from other sources. The actual results
experienced by the Company may differ materially and adversely from the Company's estimates. To the extent there are material differences
between the estimates and the actual results, future results of operations will be affected. Significant estimates in the accompanying
financial statements include leases, valuation of derivatives and valuation allowance on deferred tax assets.
Principles
of Consolidation
The
accompanying consolidated financial statements include the accounts of the Company and its subsidiaries; the Company's 50% owned
subsidiaries GBT BitSpeed Corp. and GBT Tokenize Corp; the Company's 50% owned subsidiary, Gopher Protocol Costa Rica Sociedad
De Responsabilidad Limitada (currently inactive  ), a wholly owned subsidiary, AltCorp Trading LLC, a Costa Rica company ("AltCorp"),
Greenwich International Holdings, a Costa Rica corporation ("Greenwich") and Mahaser Ltd., a variable interest entity. All
significant intercompany transactions and balances were eliminated in consolidation.
For
entities determined to be VIEs, an evaluation is required to determine whether the Company is the primary beneficiary. The Company evaluates
its economic interests in the entity specifically determining if the Company has both the power to direct the activities of the VIE that
most significantly impact the VIE's economic performance ("the power") and the obligation to absorb losses or the right
to receive benefits that could potentially be significant to the VIE ("the benefits"). When making the determination whether
the benefits received from an entity are significant, the Company considers the total economics of the entity, and analyzes whether the
Company's share of the economics is significant. The Company utilizes qualitative factors, and, where applicable, quantitative
factors, while performing the analysis.
In
addition, the Company's variable interests in Mahaser obligate the Company to absorb deficits and provide it with the right to
receive benefits that could potentially be significant to Mahaser. As a result of this analysis, the Company concluded it is the primary
beneficiary of Mahaser and therefore consolidates the balance sheets, results of operations and cash flows of Mahaser. The Company performs
a qualitative assessment of Mahaser on an ongoing basis to determine if it continues to be the primary beneficiary.
8
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Cash
Equivalents
For
the purpose of the statement of cash flows, cash equivalents include time deposits, certificate of deposits, and all highly-liquid debt
instruments with original maturities of three months or less. As of June 30, 2022 and December 31, 2021, the Company did
no
t have any
cash equivalents.
Restricted
Cash
Restricted
cash represents $
375,000
as part of the SURG settlements proceeds that need to stay in escrow and $
15,326
restricted cash that the court
on January 28, 2022 awarded the Company with injunction against RWJ defendants, where all funds generating from resale should be deposited
into GBT blocked account, and therefore RWJ defendants cannot use these funds without court order, neither the Company.
Cash
Held in Trust
Cash
held in trust consists of proceeds from the sale of investments. The proceeds less the payment of certain expenses are being held in
AltCorp's (the Company's wholly owned subsidiary) attorney trust account. (See Note 5). The cash held in trust is readily
available and there are no restrictions as of June 30, 2022.
Investment
Securities
The
Company accounts for investment securities in accordance with ASC Topic 321,
Investments – equity securities.
Marketable
equity securities are reported at fair value based on quotations available on securities exchanges with any unrealized gain or loss being
reported as a component of other income (expense) on the statement of operations. The portion of marketable equity security expected
to be sold within 12 months of the balance sheet date is reported as a current asset. These publicly traded equity securities are valued
using quoted prices and are included in Level 1.
Inventory
Inventory
consists of electronic product ready for sale on Amazon.com. It is stated at the lower of cost or net realizable value and all inventories
were returned product from online customers. We value our inventory using the weighted average costing method. Our Company's policy
is to include as a part of inventory any freight incurred to ship the product from our contract vendors to our warehouses. Outbound freight
costs to our customers are considered period costs and reflected in selling, general and administrative expenses. We regularly review
inventory and consider forecasts of future demand, market conditions and product obsolescence.
Note
Receivable
On
September 18, 2020, the Company entered into a Purchase and Sale Agreement with Mr. LightHouse LTD
.
, an Israeli corporation ("MLH")
pursuant to which the Company agreed to sell and assign to MLH, effective July 1, 2020 all the shares, and certain specified liabilities,
of Ugopherservices Corp. ("UGO"), a wholly owned subsidiary of the Company, in consideration of $
100,000
to be paid through
the delivery of a promissory note payable to the Company (the "Note"), upon the terms and subject to the limitations and
conditions set forth in the Note. At December 31, 2020, the Company determined this note was not collectible and took an impairment
charge of $
100,000
. During July 2021, MLH effected a $
50,000
payment on the Note. During April 2022, MLH effected a second payment for
additional $
50,000
on the Note exhausting the Note balance.
9
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Derivative
Financial Instruments
The
Company evaluates all of its agreements to determine if they contain derivatives
or have contain features that qualify as embedded derivatives. For derivative financial instruments that are accounted for as liabilities,
the derivative instrument is initially recorded at its "FV" and is then re-valued at each reporting date, with changes in
the FV reported in the statements of operations. For stock-based derivative financial instruments, the Company uses a weighted-average
Black-Scholes-Merton option pricing model to value the derivative instruments at inception and on subsequent valuation dates. The classification
of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end
of each reporting period. Derivative instrument liabilities are classified in the balance sheet as current or non-current based on whether
or not net-cash settlement of the derivative instrument could be required within 12 months of the balance sheet date. As of June 30, 2022
and December 31, 2021 (audited), the Company's only derivative financial instrument was an embedded conversion feature associated
with convertible notes payable due to certain provisions that allow for a change in the conversion price based on a percentage of the
Company's stock price at the date of conversion.
Fair
Value of Financial Instruments
For certain of the Company's financial instruments,
including cash, accounts payable, accrued liabilities and short-term debt, the carrying amounts approximate their FVs due to their short
maturities.
FASB ASC Topic 820,
Fair Value Measurements and
Disclosures
, requires disclosure of the FV of financial instruments held by the Company. FASB ASC Topic 825,
Financial Instruments
,
defines fair value, and establishes a three-level valuation hierarchy for disclosures of FV measurement that enhances disclosure requirements
for FV measures. The carrying amounts reported in the consolidated balance sheets for receivables and current liabilities each qualify
as financial instruments and are a reasonable estimate of their FV because of the short period of time between the origination of such
instruments and their expected realization and their current market rate of interest. The three levels of valuation hierarchy are defined
as follows:
●
Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.
●
Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
●
Level
3 inputs to the valuation methodology us one or more unobservable inputs which are significant to the FV measurement.
The
Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic 480,
Distinguishing Liabilities
from Equity
, and FASB ASC Topic 815,
Derivatives and Hedging
.
For certain financial instruments, the carrying amounts
reported in the balance sheets for cash and current liabilities, including convertible notes payable, each qualify as a financial instrument,
and are a reasonable estimate of their FVs because of the short period of time between the origination of such instruments and their expected
realization and their current market rate of interest.
The Company uses Level 2 inputs for its valuation
methodology for derivative liabilities as their FVs were determined using the Black-Scholes-Merton pricing model based on various assumptions.
The Company's derivative liabilities are adjusted to reflect fair value at each period end, with any increase or decrease in the
fair value being recorded in results of operations as adjustments to FV of derivatives.
At June 30, 2022 and December 31, 2021, the Company
identified the following assets and liabilities that are required to be presented on the balance sheet at FV:
Description
Fair Value
As of
June 30, 2022
Fair Value Measurements at
June 30, 2022
Using Fair Value Hierarchy
Level 1
Level 2
Level 3
Conversion feature on convertible notes
$
5,612,746
$
—
$
5,612,746
$
—
Marketable securities
$
87,164
$
87,164
$
—
$
—
10
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Description
Fair Value
As of
December 31, 2021
Fair Value Measurements at
December 31, 2021
Using Fair Value Hierarchy
Level 1
Level 2
Level 3
Conversion feature on convertible notes
$
10,192,485
$
—
$
10,192,485
$
—
Treasury
Stock
Treasury
stock is recorded at cost. The re-issuance of treasury shares is accounted for on a first in, first-out basis and any difference between
the cost of treasury shares and the re-issuance proceeds are charged or credited to additional paid-in capital.
Reclassification
Certain
prior years amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect
on the reported results of operations.
Revenue
Recognition
Accounting
Standards Update ("ASU") No. 2014-09,
Revenue from Contracts with Customers
("
Topic 606
"),
became effective for the Company on January 1, 2018. The Company's revenue recognition disclosure reflects its updated accounting
policies that are affected by this new standard. The Company applied the "modified retrospective" transition method for open
contracts for the implementation of
Topic 606.
The Company had no significant post-delivery obligations, this new standard
did not
result in a material recognition of revenue on the Company's accompanying consolidated financial statements
for the cumulative impact of applying this new standard. The Company made no adjustments to its previously-reported total revenues, as
those periods continue to be presented in accordance with its historical accounting practices under
Topic 605, Revenue Recognition
.
Revenues
are recognized under
Topic 606
in a manner that reasonably reflects the delivery of its services to customers in return
for expected consideration and includes the following elements:
IT
Consulting services:
●
executed contracts with the Company's customers that it believes are legally enforceable;
●
identification of performance obligations in the respective contract;
●
determination of the transaction price for each performance obligation in the respective contract;
●
allocation the transaction price to each performance obligation; and
●
recognition of revenue only when the Company satisfies each performance obligation.
These
five elements, as applied to each of the Company's IT revenue category, is summarized below:
●
IT
    consulting services - revenue is recorded on a monthly basis as services are provided.
These
five elements, as applied to each of the Company's license revenue category, is summarized below:
●
License services
    – the one-time related party licensing income recorded as other income upon agreement is executed and services are provided
    and recognized over the term of five years.
11
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
e-commerce
sales
–
●
Identify the contract(s) with a customer. ASC 606 defines a contract as "an agreement between two or more parties that creates enforceable rights and obligations". Since this is an e-commerce sale on the Amazon website, the Company just followed the general terms on Amazon website and the customer entered into a contract with the Company based on the product listed on the Amazon website;
●
Identify the performance obligations in the contract. According to the contract, the Company is responsible for operation exclusively. The Company is entitled to all revenue which is being paid by Amazon into a designated bank account and the Company is responsible for all product acquisitions as well as shipments. The only performance obligations were the electronic products that were listed on Amazon website and the Company determined each order is one single obligation;
●
Determine the transaction price. The transaction price set to be the listed price on the Amazon website.;
●
Allocate the transaction price to the performance obligations in the contract.; and
●
Recognize revenue when the Company satisfies a performance obligation. Sales are being recognize upon shipment.
Unearned
revenue
Unearned
revenue represents the net amount received for the purchase of products that have not seen shipped to the Company's customers.
On November 12, 2020 the Company filed a complaint in the United States District Court – District of Nevada - Case
2:20-cv-02078 against RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson and against W.L. Petrey Wholesale Company Inc (the
"RWJ Defendants") for fraud, breach of contract, Unjust Enrichment and other claims. On January 28, 2022, the court
awarded the Company with an injunction against RWJ Defendants, where all fee funds generating from resale should be deposited into a
GBT blocked account and, therefore, RWJ Defendants cannot use these funds without court order. $
15,326
been credited as unearned revenue until the court's final decision. The Company has $
249,159
and $
249,384
of unearned revenue at June 30, 2022 and December 31, 2021 (audited), respectively.
Contract
liabilities
On
February 22, 2022, the Company entered into an Intellectual Property License and Royalty Agreement with
Touchpoint Group
Holdings, Inc. ("Touchpoint" or "TGHI") pursuant to which the Company granted TGHI a worldwide license for
its technologies for five years in the domains of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies
pertaining to the Company's digital currency technology (the "Technology"). GBT will charge TGHI royalties based
on actual uses by TGHI of the Technology resulting from revenue attributable to the use, performance or other exploitation of the
Technology, to the extent applicable, after deducting any taxes that the Company may be required to collect, and deducting any
international sales, goods and services, value added taxes or similar taxes which the Company is required to pay, if any, excluding
deductions for taxes on the Company net income. TGHI agreed to issue the Company
10,000,000
shares of common stock of TGHI   in the FV of $
50,000
as a onetime fee in consideration of the Company entering this Intellectual Property License and Royalty Agreement, which was booked
contract liabilities and amortized over the
five-year term. The Company has yet to earn any royalty income in relation to this agreement as of June 30, 2022. The contract
liabilities as of June 30, 2022 and December 31, 2021 (audited) was $
46,444
and $
0
,
respectively.
12
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Variable
Interest Entity
On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement ("RSA") with Mahaser LTD.
("Mahaser") pursuant to which the Company shares in revenues generated by Mahaser e-commerce sales through the online retail
platform in the United States of America. Mahaser owns an e-commerce platform as a store which is the legal, exclusive owner of Ravenholm
Electronics. The Company will operate the e-commerce platform and will be entitled to 95% for all revenue generated by and received by
Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides that the Company will be entitled to appoint a
manager to Mahaser. As consideration, the Company will pay Mahaser $
100,000
no later than March 1, 2022 and issue Mahaser
1,000,000
shares
of the Company's restricted common stock. The Company shall have no obligations to make any further payments to Mahaser. For any
further extensions, the Company will have the option to extend the RSA for annual payment of $
200,000
, which can be payable with the
Company's shares of common stock payable based on 20 days VWAP prior to issuance. On March 16, 2022 the parties entered into
Amendment No. 1 to the to the RSA, where all consideration to be paid or issued to Mahaser will be deferred until such time where the
e-commerce platform generated in cumulative revenue of $1,000,000. On March 31, 2022, the parties entered into Amendment No. 2 to the
RSA, where Mahaser agreed to pay the Company 100% per year for all revenue generated by and received by seller from the sales by Amazon
within the United States of America as follows for the period from March 1, 2022 through December 31, 2022. The Company will be responsible
for 100% of the cost of goods sold as well. In addition, the Company is entitled to earn 100% revenues and cost of goods sold of the
test run period from February 1, 2022 to February 28, 2022.
The
Company evaluated whether it has a variable interest in Mahaser, whether Mahaser is a VIE and whether the Company has a controlling financial
interest in Mahaser. The Company concluded that it has variable interests in Mahaser on the basis of GBT has 100% control over the JV/revenue
sharing, and as such should consolidate the JV into its books and records as it assigned 100% financial responsibility. Mahaser's
equity at risk, as defined by GAAP, is considered to be insufficient to finance its activities without additional support, and, therefore,
Mahaser is considered a VIE.
The
following table summarizes the carrying amount of the assets and liabilities of Mahaser included in the Company's consolidated
balance sheets (after elimination of intercompany transactions and balances):
June 30,
Assets of consolidated variable interest entity ("VIE") included in the consolidated balance sheets above (after elimination of intercompany transactions and balances) consist of:
2022
Current assets:
Cash and cash equivalents
$
8,899
Inventory
17,053
Total current assets
$
25,951
Liabilities of consolidated VIE included in the consolidated balance sheets above (after elimination of intercompany transactions and balances) consist of:
Current liabilities
Due to related party
$
10,238
Total current liabilities
$
10,238
Statements of operations of consolidated VIE included in the consolidated statements of operations above (after elimination of intercompany transactions and balances) consist of:
Statements of operations
Sales
$
569,951
Cost of goods sold
388,458
Gross profit
181,493
General and administrative expenses
145,305
Net loss
$
36,188
13
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Income
Taxes
The
Company accounts for income taxes in accordance with ASC Topic 740,
Income Taxes
. ASC 740 requires a company to use the asset
and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences,
and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the
reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the
opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will not be realized. Deferred
tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Under
ASC 740, a tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained
in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that
is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test,
no tax benefit is recorded. The Company has no material uncertain tax positions for any of the reporting periods presented.
Basic
and Diluted Earnings Per Share
Earnings
(loss) per share is calculated in accordance with ASC Topic 260,
Earnings Per Share
. Basic earnings per share ("EPS")
is based on the weighted average number of common shares outstanding. Diluted EPS assumes that all dilutive securities are converted.
Dilution is computed by applying the treasury stock method. Under this method, options and warrants are assumed to be exercised at the
beginning of the period (or at the time of issuance, if later), and as if funds obtained thereby were used to purchase common stock at
the average market price during the three and six months.
June 30,
2022
December 31,
2021
Series B preferred stock
45,000
45,000
Series C preferred stock
700
700
Series H preferred stock
20,000
20,000
Warrants
388,870
392,870
Convertible notes
4,170,491,847
83,722,340
Total
4,171,946,417
84,180,910
14
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Recent
Accounting Pronouncements
In December 2019, the FASB issued ASU 2019-12,
Simplifying
the Accounting for Income Taxes
which amends ASC 740
Income Taxes
(ASC 740). This update is intended to simplify
accounting for income taxes by removing certain exceptions to the general principles in ASC 740 and amending existing guidance to improve
consistent application of ASC 740. This update is effective for fiscal years beginning after December 15, 2021. The guidance in this update
has various elements, some of which are applied on a prospective basis and others on a retrospective basis with earlier application permitted.
The Company have adopted this ASU on the CFS in the quarter ended March 31, 2022. The adoption had no material impact on the CFS in the
period ended June 30, 2022.
In August 2020, the FASB issued ASU 2020-06
,
Debt—Debt
with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity's Own Equity (Subtopic
815-40)—Accounting for Convertible Instruments and Contracts in an Entity's Own Equity.
ASU 2020-06 reduces the number
of accounting models for convertible debt instruments and convertible preferred stock. For convertible instruments with conversion features
that are not required to be accounted for as derivatives under Topic 815,
Derivatives and Hedging
, or that do not result in
substantial premiums accounted for as paid-in capital, the embedded conversion features no longer are separated from the host contract.
ASU 2020-06 also removes certain conditions that should be considered in the derivatives scope exception evaluation under Subtopic 815-40,
Derivatives
and Hedging—Contracts in Entity's Own Equity
, and clarify the scope and certain requirements under Subtopic 815-40. In
addition, ASU 2020-06 improves the guidance related to the disclosures and earnings-per-share (EPS) for convertible instruments and contract
in entity's own equity. ASU 2020-06 is effective for public business entities that meet the definition of a SEC filer, excluding
entities eligible to be smaller reporting companies as defined by the SEC, for fiscal years beginning after December 15, 2021, including
interim periods within those fiscal years. For all other entities, the amendments are effective for fiscal years beginning after December
15, 2023, including interim periods within those fiscal years. Early adoption is permitted, but no earlier than fiscal years beginning
after December 15, 2020, including interim periods within those fiscal years. The Company adopted this ASU on the CFS in the quarter ended
March 31, 2022. The adoption had no material impact on the CFS in the periods ended June 30, 2022 and March 31, 2022.
On April 2021, the FASB issued ASU 2021-04, "
Earnings
Per Share (Topic 260), Debt— Modifications and Extinguishments (Subtopic 470-50), Compensation—Stock Compensation (Topic 718),
and Derivatives and Hedging— Contracts in Entity's Own Equity (Subtopic 815-40): Issuer's Accounting for Certain Modifications
or Exchanges of Freestanding Equity-Classified Written Call Options"
("
ASU
2021-04
") to clarify the accounting by issuers for modifications or exchanges of equity-classified warrants. The new ASU
is available here and effective for all entities in fiscal years starting after December 15, 2021. Early adoption is permitted. The Company
has adopted this ASU on the CFS in the quarter ended March 31, 2022. The adoption had no material impact on the CFS in the periods ended
June 30, 2022 and March 31, 2022.
Management
does not believe that any recently issued, but not yet effective, accounting standards could have a material effect on the accompanying
consolidated financial statements. As new accounting pronouncements are issued, we will adopt those that are applicable under the circumstances.
15
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
3 –
Cash, Restricted Cash, and Cash held in Trust
Cash
consist of amounts held as bank deposits, amounts held in escrow and highly liquid debt instruments purchased with an original maturity
of three months or less.
From
time to time, we may maintain bank balances in interest bearing accounts in excess of the $
250,000
currently insured by the Federal
Deposit Insurance Corporation for interest bearing accounts (there is currently no insurance limit for deposits in noninterest bearing
accounts). We have not experienced any losses with respect to cash. Management believes our Company is not exposed to any significant
credit risk with respect to its cash.
Restricted
cash represents $
375,000
as part of the SURG settlement proceeds that need to stay in escrow and $
15,326
restricted cash that the court
on January 28, 2022 awarded the Company with an injunction against RWJ Defendants, where all fee funds generating from resale should
be deposited into a GBT blocked account and, therefore, RWJ Defendants cannot use these funds without court order.
As  
of June 30, 2022 and December 31, 2021 (audited), the Company held cash in the amount of $
74,110
and $
155,106
,
respectively.
As
of June 30, 2022 and December 31, 2021 (audited), the Company held restricted cash in the amount of $
390,326
and
$
0
,
respectively.
As
of June 30, 2022 and December 31, 2021 (audited), the Company held cash in the trust account of $
0
and
$
112,942
,
respectively. The cash in the trust account do not have any restrictions.
Note
4 –
Marketable Securities
TGHI
Agreement
On
January 28, 2022, the Company entered into a Stock Purchase Agreement with Marko Radisic (the "Seller") and
Touchpoint Group Holdings, Inc. ("TGHI") pursuant to which the Company acquired
10,000
shares of Series A Convertible Preferred
Stock (the "Touchpoint Preferred") from the Seller for $
125,000
. The Touchpoint Preferred is convertible into
10,000,000
shares of common stock of Touchpoint. On February 22, 2022, the Company entered into an Intellectual Property License and Royalty Agreement
with
TGHI pursuant to which the Company granted TGHI a worldwide license for its technologies for five years in the domains
of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies pertaining to the Company's digital currency
technology (the "Technology"). GBT will charge TGHI earned royalties based on actual uses by TGHI of the Technology resulting
from revenue attributable to the use, performance or other exploitation of the Technology, to the extent applicable, after deducting
any taxes that the Company may be required to collect, and deducting any international sales, goods and services, value added taxes or
similar taxes which the Company is required to pay, if any, excluding deductions for taxes on the Company net income. TGHI agreed to
issue the Company
10,000,000
shares of common stock of TGHI in the fair value of $
50,000
as an one-time fee in consideration of the Company
entering this Intellectual Property License and Royalty Agreement, which was booked contract liabilities and amortized over the five-year
term. The Company have yet to earn any royalty income in relation to this agreement as of June 30, 2022.
TGHI
converted the Touchpoint Preferred into
10,000,000
shares of common stock of Touchpoint on February 23,2022 resulting in the Company
owning
20,000,000
shares of common stock of Touchpoint in total FV of $
44,000
as of June 30, 2022 based on level 1 stock price
in OTC markets.
GTX
Agreement
On
April 12, 2022, GBT Tokenize Corp ("GBT Tokenize"), a Nevada corporation which the Company owns 50% of the outstanding shares
of common stock, entered into a series of agreements with GTX Corp ("GTX") and various note holders of GTX pursuant to which
Tokenize acquire convertible promissory notes of GTX in the principal amount of $
100,000
(the "GTX Notes"). In addition,
GBT Tokenize acquired
5,000,000
shares of common stock of GTX for $
150,000
- in total FV of $
41,000
as of June 30, 2022 based
on level 1 stock price in OTC markets.
The
GTX Notes bear 10% interest and 50% of the principal may be converted into shares of common stock on a one-time basis at a conversion
price of $
0.01
per share. The remaining 50% of the principal must be paid in cash. The closing occurred on April 12, 2022. As of June,
30, 2022, the note had an outstanding balance of $
100,000
and accrued interest of $
2,164
.
As
of June, 30, 2022 and December 31, 2021, the marketable security had a FV of $
87,164
and $
0
, respectively.
16
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
5 –
Investment in Surge Holdings, Inc
(Relate to Year 2021).
Surge
Holdings, Inc.
On September 30, 2019, GBT
Technologies Inc. (the "Company") entered into an Asset Purchase Agreement ("APA") with Surge Holdings, Inc.,
a Nevada corporation ("SURG") pursuant to which the Company agreed to sell and assign to SURG, all the assets and certain
specified liabilities, of its ECS Prepaid, Electronic Check Services and the Central State Legal Services businesses for $5,000,000 to
be paid through the issuance of 3,333,333 shares of SURG's common stock (the "SURG Common Stock") and a convertible
promissory note in favor of the Company of $4,000,000 (the "SURG Note"), convertible into SURG's shares of common
stock. On January 7, 2022, the Company received payments from Surge pays Inc. (formerly known as Surge Holdings, Inc.) of $3,750,000 pursuant
to the terms of the Settlement Agreement dated December 22, 2021.
On
June 23, 2020, SURG entered into an Exchange Agreement (the "AltCorp Exchange Agreement") with AltCorp Trading LLC ("AltCorp")
with such AltCorp Exchange Agreement being consented and agreed to by the Company, the parent of AltCorp. At the expiration of the lock-up
period, in the event the VWAP for the SURG Common Stock was, during the preceding 20-day trading period, less than $0.50 per
share, AltCorp retained the right to reserve additional shares of SURG Common Stock equal to the True-Up Value as defined in the AltCorp
Exchange Agreement.
On
March 8, 2020, SURG filed a lawsuit against its transfer agent from transferring millions of SURG stock that is currently in possession
by the Company and assigned to Stanley Hills, LLC. On January 1, 2021, SURG, AltCorp and Stanley Hills, LLC ("Stanley") entered
into a Mutual Release and Settlement Agreement ("Settlement Agreement"). Pursuant to the terms of the Settlement Agreement,
SURG agreed to amend the AltCorp Exchange Agreement where SURG acknowledged a debt of $3,300,000 (the "Debt") to be
paid in 33 monthly payments of $100,000 payable in shares of common stock of SURG at a per share price equal the VWAP of Surg's common stock during the 10 trading days immediately preceding the issuance. SURG paid $
400,000
in
cash and $
800,000
by shares. The SURG common stock issued to Altcorp have been pledged since August 12, 2020 for the benefit of
Stanley to secure Stanley's note payable by the Company. Accordingly, the SURG Common Stock issued to AltCorp as a result of the
Settlement Agreement were pledged to Stanley. As of December 31, 2021 there were no surge shares pledges after the final settlement signed
on December 22, 2021 and that replaced all prior settlement agreement. The final settlement SURG agreed to make total payments of $
4,200,000
to
the Company's trust account on or prior to January 7, 2022.
This $4.2 million amount consists of $450,000 paid by SURG in
November and December 2021, $100,000 to be paid on or about January 4, 2022, and $3,650,000 to be paid on or prior to January 7, 2022
of which $375,000 will be held in escrow as described before. The $3,750,000 was recorded as other receivable as of December 31, 2021.
As of December 31, 2021, the Company has recorded an outstanding payable balance to Stanley amounted $1,862,928 recorded under accrued
expenses.
Subsequently,
SURG was a party to two lawsuits in state District Court, the Eighth Judicial District Court for Clark County, Nevada involving AltCorp,
Stanley and Glen Eagles Acquisition LP (the "AltCorp Parties."). Each of these lawsuits were ultimately disputes relating
to the total consideration SURG was to pay the Company under the APA.
On
October 18, 2021, the AltCorp Parties, the Company, and SURG entered into a Memorandum of Understanding (the "MOU") to set
up a framework for an attempt to settle the two lawsuits.
On
December 22, 2021 (the "Effective Date"), pursuant to the framework in the MOU, the AltCorp Parties (and an additional third
party), the Company, ECS, and SURG, Kevin Brian Cox (SURG's Chief Executive Officer) - in his individual capacity, entered into
a Resolution of Purchase, Mutual Release, and Settlement Agreement (the "Final Settlement Agreement") to settle the two lawsuits
and resolve all disputes related to the consideration paid by SURG to the Company in connection with the APA.
17
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
The
Final Settlement Agreement, among other resolutions, essentially provides the following:
(i)
From the total consideration of the Final Settlement Agreement, $
375,000
("Escrow Amount") will be deposited
by SURG in escrow. SURG has acquired the Company's rights to a certain Master Distribution and Service Agreement ("MDA").
Under certain circumstances, if the result of the Company's lawsuit against a third party (the "GBT Lawsuit") is a
monetary judgment without the assignment or legal decree of ownership of the MDA, the Company shall be entitled to receive the Escrow
Amount and shall assign to SURG the first $
1,000,000
the Company recovers from the defendants in the GBT Lawsuit. In the event that
the Company does not prevail in the GBT Lawsuit then it shall be entitled to release of the Escrow Amount but shall be responsible for
any fees and costs obligation sought by the defendants in the GBT Lawsuit.
(ii)
Potential payments to third parties.
The
Final Settlement Agreement replaces all prior agreements between the parties. In addition, within three trading days of the last payment
related to the $
4.2
million payment to Stanley being made, the parties shall make filings with the state District Court in Clark
County, Nevada to dismiss both lawsuits, including, regarding the lawsuit filed by AltCorp Trading, LLC, the dismissal of the lawsuit
as to VStock Transfer, LLC. The parties agreed to a full mutual release of any disputes or claims between the parties.
The
final settlement of $
3,750,000
was received by the Company in January 2022 and paid out $
3,750,000
to the third parties during
the periods ended June 30, 2022.
Note
6 –
Impaired Investments
1.
Investment
                                            in GBT Technologies, S.A.
On
June 17, 2019, the Company, AltCorp Trading LLC, a Costa Rica company and a wholly-owned subsidiary of the Company ("AltCorp"),
GBT Technologies, S.A., a Costa Rica company ("GBT-CR") and Pablo Gonzalez, a shareholder's representative of GBT-CR
("Gonzalez"), entered into and closed an Exchange Agreement (the "GBT Exchange Agreement") pursuant to which
the parties exchanged certain securities. In accordance with the Exchange Agreement, AltCorp acquired
625,000
shares of GBT-CR
representing 25% of its issued and outstanding shares of common stock from Gonzalez for the issuance of
20,000
shares of Series
H Convertible Preferred Stock of the Company and a Convertible Note of $
10,000,000
issued by the Company
(the "Gopher Convertible Note") as well as the transfer and assignment of a Promissory
Note payable by Gopher Protocol
Costa Rica Sociedad De Responsabilidad Limitada to the Company in the principal amount of $5,000,000 dated February 6, 2019 (of which
the underlying security for this Promissory Note is 30,000,000 restricted shares of common stock of Mobiquity Technologies, Inc. ("Mobiquity")
and 60,000,000 restricted shares of common stock of Mobiquity.
The
Gopher Convertible Note bears interest of
6
% and was payable at maturity on
December 31, 2021
. At the election of Gonzalez,
the Gopher Convertible Note converted into a maximum of 20,000 shares of Series H Preferred Stock. Each share of Series H Preferred Stock
is convertible, at the option of the holder but subject to the Company increasing its authorized shares of common stock, into such number
of shares of common stock of the Company as determined by dividing the Stated Value ($
500
per share) by the conversion price ($
500
per
share). The Series H Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series H Preferred Stock
shall be entitled to one vote for each share of common stock that the Series H Preferred Stock may be convertible into. Upon conversion
of the Gopher Convertible Note and the 20,000 shares of Series H Preferred Stock, Gonzalez would be entitled to less than 50% of the
resulting outstanding shares of common stock of the Company following conversion in full and, as a result, such transaction is not considered
a change of control.
18
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
On
May 19, 2021, the Company, entered into a Mutual Release and Settlement Agreement and Irrevocable Assignment of Note Balance Principal
and Accrued Interest (the "Gonzalez Agreement") with third party, GBT-CR, IGOR 1 Corp and Gonzalez. Pursuant to the Gonzalez
Agreement, without any party admission of liability and to avoid litigation, the parties has agreed to (i) extend the GBT Convertible
Note maturity date to December 31,2022, (ii) amend the GBT Convertible Note terms to include a beneficial ownership blocker of 4.99%
and a modified conversion feature to the GBT Convertible Note with 15% discount to the market price during the 20 trading day period
ending on the latest complete trading day prior to the conversion date and (iii) provided for an assignment of the GBT Convertible Note
by Gonzalez to a third party.
GBT-CR
is in the business of the strategic management of BPO (Business Process Outsourcing) digital communications processing for enterprises
and startups, distributed ledger technology development, AI development and fintech software development and applications.
The
Company accounted for its investment in GBT-CR using the equity method of accounting; however, in 2020, the Company owned less than 20%
after GBT-CR issued additional shares to other investors therefore exercised no control over GBT-CR; therefore, this investment is currently
accounted for under the cost method. Moreover, on March 19, 2020, California Governor Gavin Newsom issued a stay-at-home order to protect
the health and well-being of all Californians and to establish consistency across the state in order to slow the spread of COVID-19.
California was therefore under strict quarantine control and travel has been severely restricted, resulting in disruptions to work, communications,
and access to files (due to limited access to facilities). The stay-at-home order was lifted in California only on January 25, 2021.
As such, the Company was unable to access or to contact GBT-CR on an on-going basis, and cannot get information about GBT-CR.
2.
Investment
                                            in Joint Venture – GBT Tokenize Corp
On
March 6, 2020, the Company through Greenwich, entered into a Joint Venture and Territorial License Agreement (the "Tokenize Agreement")
with Tokenize-It, S.A. ("Tokenize"), which is owned by a Costa Rica Trust represented by Pablo Gonzalez ("Gonzalez").
Gonzalez also represents Gonzalez Costa Rica Trust, which holds a note of $10,000,000 and is also a shareholder
of the Company. Under the Tokenize Agreement, the parties formed GBT Tokenize Corp., a Nevada corporation ("GBT Tokenize").
The purpose of GBT Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile
chip technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking,
IT services, business process outsourcing development services, customer service, technical support and quality assurance for business,
customizable and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups
("Technology Portfolio"), throughout the State of California. Upon generating any revenue from the Technology Portfolio,
the Joint Venture will earn the first right of refusal for other territories.
The
Company pledged its 50% ownership in GBT Tokenize and its 100% ownership of Greenwich to Tokenize to secure its Technology Portfolio
investment. The Company shall appoint two directors and Tokenize shall appoint one director of GBT Tokenize.
Tokenize
shall contribute the services and resources for the development of the Technology Portfolio to GBT Tokenize. The Company shall contribute
2,000,000 shares of common stock of the Company ("GBT Shares") to GBT Tokenize. Tokenize and the Company will each own 50%
of GBT Tokenize. The shares were valued at FV of $5,500,000.
In
addition, GBT Tokenize and Gonzalez entered into a Consulting Agreement in which Gonzalez is engaged to provide services for $33,333
per month payable quarterly which may be paid in shares of common stock calculated by the amount owed divided by the Company's
10-day VWAP. Gonzalez will provide services in connection with the development of the business as well as GBT Tokenize's capital
raising efforts. The term of the Consulting Agreement is two years. During year ended December 31, 2021, Gonzalez assigned all his accrued
balances of $424,731 to Stanley Hills in a private transaction that the Company is not part to. The closing of the Tokenize Agreement
occurred on March 9, 2020.
19
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Through
this Joint Venture the parties commenced development of an intelligent human vital signs' device, which we currently refer to as
the qTerm. The platform is an expansion of the existing license agreement with GBT Tokenize Corp., which provided GBT Tokenize Corp.
with an exclusive territory of California to develop certain of the Company's technology. As the nature of the platform cannot
be restricted only to California, the Company's joint venture GBT Tokenize Corp. will be compensated with additional 200,000,000 shares of the Company to strengthen its funding, subject to board approval. A provisional patent application for the qTerm Medical
Device was filed on March 30, 2020 with the USPTO. The application assigned serial number 63001564. The Joint Venture completed
successfully the first prototype. There is no guarantee the Company will be successful in researching, developing or implementing this
product into the market. In order to successfully implement this concept, the Company will need to raise adequate capital to support
its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic
relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that
the Company will be successful in any or all of these critical steps.
On
May 28, 2021, the parties agreed to amend the Tokenize Agreement to expand territory granted for the Technology Portfolio under the license
to GBT Tokenize to include the entire continental United States. The Company has further agreed to issue GBT Tokenize an additional 14,000,000
shares of common stock of the Company. The shares were valued at $15,400,000.
At
March 31, 2020, the Company evaluated the carrying amount of this joint venture investment and determined that it was fully impaired
and as a result an impairment charge of $5,500,000 was taken. At December 31, 2021, the Company evaluated the carrying amount of this
joint venture investment and determined that this investment was fully impaired and as a result an impairment charge of $15,400,000 was
taken.
Although
the investment was impaired, the product development is still ongoing. The carrying amount of this investment at June 30, 2022 and December
31, 2021 (audited), was $
0
and $
0
, respectively.
Note
7 –
Inventory
Inventory
consists of electronic product ready for sale on Amazon. It is stated at the lower of cost or net realizable value and all inventories
were returned product from online customers. We value our inventory using the weighted average costing method. Our Company's policy
is to include as a part of inventory any freight incurred to ship the product from our contract vendors to our warehouses. Outbound freights
costs related to shipping costs to our customers are considered period costs and reflected in selling, general and administrative expenses.
We regularly review inventory and consider forecasts of future demand, market conditions and product obsolescence.
If
the estimated realizable value of our inventory is less than cost, we make provisions in order to reduce it carrying value to its estimated
market value.
No
write down to net realizable value was necessary for the period ended June 30, 2022 and December 31, 2021. The Company
has $
17,053
finished goods and $
43,872
inventory in transit as of June 30, 2022 and $
0
inventory as of December 31, 2021 (audited).
Note
8 –
Accounts Payable and Accrued Expenses
Accounts
payable and accrued expenses at June 30, 2022 and December 31, 2021 (audited) consist of the following (including related parties of
$
856,904
and $
2,309,255
):
2022
2021
Accounts payable
$
1,025,530
$
670,127
Accounts payable – related party
500,000
440,000
Accrued liabilities
400,451
1,170,088
Accrued liabilities – Stanley
317,174
1,862,928
Accrued interest
3,166,065
2,746,793
Accrued   interest – related party
39,730
6,327
Total Accounts payable and accrued expenses
$
5,448,950
$
6,896,263
20
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
9 –
Unearned Revenue
Unearned
revenue is the net amount received for the purchase of products that have not seen shipped to the Company's customers. On
January 28, 2022, the court awarded the Company an injunction against RWJ Defendants, where all funds generating from resale should
be deposited into a GBT blocked account and, therefore, RWJ Defendants cannot use these funds without a court order. $
15,326
been credited as unearned revenue until the court's final decision.
Note
10 –
Accrued Settlement
In
connection with a legal matter filed by the Investor of the $
8,340,000
Senior Secured Redeemable Convertible Debenture, on December
23, 2019, in the pending arbitration between the Company and the Investor, an Interim Award was entered in favor of the Investor. On
January 31, 2020, the Company was informed that a final award was entered (the "Final Award"). The Final Award affirms that
certain sections of the Senior Secured Redeemable Convertible Debenture (the "Debenture") constitute unenforceable liquidated
damages penalties and were stricken. Further, it was determined that the Investor was entitled to recovery of attorney's fees.
Consequently, the arbitrator awarded Investor $
4,034,444
plus interest of
7.25
% accrued from May 15, 2019 (presented separately
in accounts payable and accrued expenses) and costs $
55,613
. In connection with this settlement, the Company recognized a gain on the
settlement of debt of $
1,375,556
in 2019 as the difference between the carrying amount of the debt and the amount awarded by the
arbitrator. As of June 30, 2022, the award had not been paid yet. The Company recorded accrued settlement of $
4,090,057
and $
4,090,057
at June 30, 2022 and December 31, 2021 (audited), respectively, not including interest accrued.
Note
11 –
Convertible Notes Payable, Non-related Partied and Related Party
Convertible
notes payable – non related parties at June 30, 2022 and December 31, 2021 (audited) consist of the following:
June 30,
2022
December 31,
2021
Convertible note payable to IGOR 1 CORP
$
6,728,731
$
8,055,400
Convertible notes payable to Sixth Street
—
124,200
Convertible notes payable to Redstart Holdings
—
244,500
Convertible notes payable to 1800 Diagonal Lending
244,500
—
Total convertible notes payable, non-related parties
6,973,231
8,424,100
Unamortized debt discount
(
207,229
)
(
278,867
)
Convertible notes payable – non related parties
6,766,002
8,145,233
Less current portion
(
6,728,731
)
(
8,109,436
)
Convertible notes payable – non related parties, long-term portion
$
37,271
$
35,797
$10,000,000
for Igor 1 Corp (Prior year - GBT Technologies S. A.)
In
accordance with the acquisition of GBT-CR the Company issued a convertible note of $
10,000,000
. The convertible Note bears interest of
6% was payable at maturity on
December 31, 2021
. At the election of the holder, the convertible note can be converted into a maximum
of
20,000
shares of Series H Preferred Stock. Each share of Series H Preferred Stock is convertible, at the option of the holder
but subject to the Company increasing its authorized shares of common stock, into such number of shares of common stock of the Company
as determined by dividing the Stated Value ($
500
per share) by the conversion price ($500.00 share). This convertible note may
convert into shares of the Company's common stock at a conversion price equal to
85
% of the lowest trading price with a 20-day
look back immediately preceding the date of conversion and therefore recorded as derivative liability.
21
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
On
May 19, 2021, the Company, Gonzalez, GBT-CR and IGOR 1 Corp entered into a Mutual Release and Settlement Agreement and Irrevocable Assignment
of outstanding balance plus accrued interest (the "Gonzalez Agreement"). Pursuant to the Gonzalez Agreement, without any
party admission of liability and to avoid litigation, the parties has agreed to (i) extend the GBT convertible note maturity date to
December 31, 2022, (ii) amend the GBT convertible note terms to include a beneficial ownership blocker of 4.99% and a modified conversion
feature to the GBT convertible note with 15% discount to the market price during the 20 trading day period ending on the latest complete
trading day prior to the conversion date and (iii) provided for an assignment of the GBT convertible note by Gonzalez to a third party.
As a result of the change in terms of this convertible note, the Company took a charge related to the modification of debt of $
13,777,480
during
the year ended December 31, 2021. This convertible note is recorded as derivative liability because of the discounted price on conversion.
During
the year ended December 31, 2021,
IGOR 1 converted $1,284,600 of the convertible note into 4,185,650 shares of the Company's
common stock. Also, on June 24, 2021, the Company transferred 5,500,000 SURG shares received as repayment of $660,000 of this convertible
note.
As
of June 30, 2022, the note had an outstanding balance of $
6,728,731
and accrued interest of $
1,778,497
.
Redstart
Holdings Corp
On
September 21, 2021, the Company entered into a Securities Purchase Agreement with Redstart pursuant to which the Company issued to Redstart
a Convertible Promissory Note (the "Redstart Note No. 7") of $244,500 for $203,750. The Redstart Note No. 7 has a maturity
date of December 22, 2022 and the Company has agreed to pay interest on the unpaid principal balance of the Redstart Note No.
7 at 2.5% from the date on which the Redstart Note No. 7 is issued (the "Issue Date") until the same becomes due and payable,
whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the Redstart Note
No. 7, provided it makes a payment including a prepayment to Redstart as set forth in the Redstart Note No. 7. The transactions described
above closed on September 28, 2021. The outstanding principal amount of the Redstart Note No. 7 may not be converted prior to the period
beginning on the date that is 180 days following the Issue Date. Following the 180
th
day, Redstart may convert the Redstart
Note No. 7 into shares of the Company's common stock at a conversion price equal to 85% of the lowest trading price
with a 20-day look back immediately preceding the date of conversion. Since the conversion price will vary based on the Company's
stock price, the beneficial conversion feature associated with this note is accounted for as a derivative liability. In addition, upon
the occurrence and during the continuation of an Event of Default (as defined in the Redstart Note No. 7), the Redstart Note No. 7 shall
become immediately due and payable and the Company shall pay to Redstart, in full satisfaction of its obligations hereunder, additional
amounts as set forth in the Redstart Note No. 7. During the six months ended June 30, 2022, Redstart converted the entire note into 7,656,951
shares of the Company's common stock.
22
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Sixth
Street Lending LLC – named changed - 1800 Diagonal Lending LLC
First
Note
On
November 8, 2021, the Company entered into a Securities Purchase Agreement with Sixth Street Lending LLC ("Sixth
Street") pursuant to which the Company issued to Sixth Street a Convertible Promissory Note (the "Sixth Street
Note") of $
124,200
for $
103,500
.
The Sixth Street Note has a maturity date of February 8, 2023 and the Company agreed to pay interest on the unpaid
principal balance of the note at
6
%
from the date on which the note is issued (the "Issue Date") until the same becomes due and payable, whether at maturity
or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the note, provided it makes a payment
including a prepayment to Sixth Street as set forth in the Sixth Street Note. The outstanding principal amount of the note may not
be converted prior to the period beginning on the date that is 180 days following the Issue Date. Following the
180
th
day, Sixth Street may convert the note into shares of the Company's common stock at a
conversion price equal to 85% of the average of the two lowest trading prices with a 20-day look back immediately preceding the date
of conversion. Since the conversion price will vary based on the Company's stock price, the beneficial conversion feature
associated with this note is accounted for as a derivative liability. In addition, upon the occurrence and during the continuation
of an Event of Default (as defined in the Sixth Street Note), the note shall become immediately due and payable and the Company
shall pay to Sixth Street, in full satisfaction of its obligations hereunder, additional amounts as set forth in the Sixth Street
Note. During the three months ended June 30, 2022, Sixth Street converted the entire note into
26,343,190
shares of the Company's common stock.
Second
Note
On
May 5, 2022, the Company entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, an accredited investor ("DL"),
pursuant to which the Company issued to DL a Convertible Promissory Note (the "DL Note") of $244,500 for $203,500. The DL
Note has a maturity date of August 4, 2023 and the Company has agreed to pay interest on the unpaid principal balance of the DL Note
at 6.0% from the date on which the DL Note is issued (the "Issue Date") until the same becomes due and payable, whether
at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the DL Note at any time from
the Issue Date and continuing through 180 days following the Issue Date, provided it makes a payment including a prepayment premium to
DL as set forth in the DL Note. The transactions described above funded on May 9, 2022.
The
outstanding principal amount of the DL Note may not be converted prior to the period beginning on the date that is 180 days following
the Issue Date. Following the 180
th
day, DL may convert the DL Note into shares of
the Company's
common
stock
at a conversion price
equal to 85% of the lowest trading price during the 20-day period
immediately preceding the date of conversion. In addition, upon the occurrence and during the continuation of an Event of Default (as
defined in the DL Note), the DL Note shall become immediately due and payable and the Company shall pay to DL, in full satisfaction of
its obligations hereunder, additional amounts as set forth in the DL Note. In no event shall DL be allowed to effect a conversion if
such conversion, along with all other shares of Company common stock beneficially owned by DL and its affiliates would exceed 4.99% of
the outstanding shares of the common stock of the Company.
Unless
the Company shall have first delivered to DL, at least 48 hours prior to the closing of any equity (or debt with an equity component)
financing in an amount less than $150,000 ("Future Offering"), written notice describing the proposed Future Offering and
providing the Buyer an option during the 48 hour period following delivery of such notice to DL the securities being offered in the Future
Offering on the same terms as contemplated by such Future Offering then the Company is restricted from conducting the Future Offering
during the period beginning on the Issue Date and ending nine months following the Issue Date.
23
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Convertible
notes payable – related parties at June 30, 2022 and December 31, 2021 (audited) consist of the following:
June 30,
2022
December 31,
2021
Convertible note payable to Stanley Hills, related party
$
116,605
$
116,605
Less current portion
(
116,605
)
(
116,605
)
Convertible notes payable, net, related party, long-term portion
$
—
$
—
Stanley
Hills LLC
The
Company entered into a series of loan agreements with Stanley Hills LLC ("Stanley") pursuant to which it received more than
$
1,000,000
in loans (the "Debt") from May 2019 to December 2019. On February 26, 2020, to induce Stanley to continue
to provide funding, the Company and Stanley entered into a letter agreement providing that the current note payable balance due to Stanley
$
1,214,900
may be converted into shares of common stock of the Company at a conversion price equal to 85% multiplied by the lowest
one trading price for the common stock during the 20-trading day period ending on the latest complete trading day prior to the conversion
date. Since the conversion price will vary based on the Company's stock price, the beneficial conversion feature associated with
this note is accounted for as a derivative liability. Stanley has agreed to restrict its ability to convert the Debt and receive
shares of common stock such that the number of shares of common stock held by it and its affiliates after such conversion or
exercise does not exceed 4.99% of the then issued and outstanding shares of common stock. During the year ended December 31, 2021, Stanley
converted $
1,231,466
of its convertible note plus interest into
4,420,758
shares of the Company's common stock,
and during the year ended December 31, 2021, Stanley loaned the Company an additional $
325,000
. Also, during the year ended December
31, 2021, the Company transferred the SURG shares received as repayment of $
800,000
of this convertible note and also converted
$
126,003
of accrued interest into the principal balance. During the year ended December 31, 2021, Gonzalez assigned all his accrued balances
of $
424,731
to Stanley in a private transaction. The unpaid interest of the Stanley debt at June 30, 2022 and December 31, 2021
was $
14,154
and $
8,372
, respectively. The Stanley debt was secured via a pledge agreement on the SURG shares.
Discounts
on convertible notes
The
Company recognized amortization of the debt discount of $
307,879
and $
321,340
during the six months ended June 30, 2022 and 2021, respectively,
related to the convertible notes.
24
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
12 -
Notes Payable, Non-related Parties and Related Party
Notes
payable, non-related parties at June 30, 2022 and December 31, 2021 (audited) consist of the following:
June 31,
2022
December 31,
2021
RWJ acquisition note
$
2,600,000
$
2,600,000
SBA loan
350,000
350,000
Total notes payable
2,950,000
2,950,000
Less current portion
(
2,635,256
)
(
2,612,397
)
Notes payable, long-term portion
$
314,744
$
337,603
RWJ
Acquisition Note
In
connection with the acquisition of RWJ in September 2017, the Company issued a note payable. The note accrues interest at
3.5
%, was due
on December 31, 2019 and is secured by the assets purchased in the acquisition. The Company contests the validity of the note, as such
the note has not been repaid as of June 30, 2022.
SBA
Loan
On
June 22, 2020, the Company received a loan from the Small Business Administration under the Economic Injury Disaster Loan program related
to the COVID-19 relief efforts. The loan bears interest at
3.75
%, requires monthly principal and interest payments of $
731
after 12 months
from funding and is due
30
years from the date of issuance. The monthly payments were extended by the SBA to all EIDL borrowers with
additional 12 months. Monthly payments will be commenced on or around June 16, 2022. On October 1, 2021, the Company entered an Amended
Loan Authorization and Agreement with the SBA providing for the modification of the Original Note providing for monthly principal and
interest payments of $
1,771
after 24 months from the Original Note commencing on or around June 22, 2022. On
March 17, 2022 the SBA notified it deferred the payments to all COVID-19 EIDL loans will have the first payment due extended from 24-months
to 30-months from the date of the note. The Modified Note will continue to bear interest at
3.75
% and is due 30 years from
the date of issuance of the Original Note. The Modified Note is guaranteed by Douglas Davis, the former CEO of the Company and current
consultant, as well as by GBT Tokenize Corp. The additional funding of $
200,000
was received by the Company on October 5, 2021.
The balance of the note at June 31, 2022 and December 31, 2021 was $
350,000
and $
350,000
plus accrued interest of $
17,091
and $
10,581
,
respectively.
Notes
payable, related party at June 30, 2022 and December 31, 2021 (audited) consist of the following:
June 31,
2022
December 31,
2021
Alpha Eda note payable
$
140,000
$
140,000
Less current portion
(
140,000
)
(
140,000
)
Notes payable, net, related party, long-term portion
$
—
$
—
25
GBT
Technologies, Inc
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Alpha
Eda
On
November 15, 2020, the Company issued a promissory note to Alpha Eda, LLC ("Alpha"), a related party for $140,000. The
note accrues interest at 10%, is unsecured and was due on September 30, 2021. On June 20, 2021 Alpha and the Company
extended the note maturity to December 31, 2022. The balance of the note at June 31, 2022 and December 31, 2021 (audited) was
$
140,000
and
$
140,000
plus accrued interest of $
25,576
and $
16,633
,
respectively.
Note
13-
Derivative Liability
Certain
of the convertible notes payable discussed in these financials have a conversion price that can be adjusted based on the Company's
stock price which results in the conversion feature being recorded as a derivative liability.
The FV of the derivative liability is recorded and
shown separately under current liabilities. Changes in the FV of the derivative liability is recorded in the statement of operations under
other income (expense).
The Company uses a weighted average Black-Scholes option pricing model
with the following assumptions to measure the FV of derivative liability at June 30, 2022 and December 31, 2021 (audited):
June
    30,
2022
December
    31,
2021
Stock
    price
$
0.002
-
0.2
$
0.17
-
0.19
Risk
    free rate
1.06
-
2.51
%
0.07
-
0.39
%
Volatility
161
-
242
%
167
-
217
%
Conversion/
    Exercise price
$
0.001
-
0.095
$
0.102
-
0.103
Dividend
    rate
0
%
0
%
The
following table represents the Company's derivative liability activity for the six months ended June 30, 2022 and December 31,
2021:
Derivative
    liability balance, December 31, 2020
$
5,262,448
Debt
    modification
13,777,480
Issuance
    of derivative liability during the period
1,480,439
Fair
    value of beneficial conversion feature of debt converted
(
116,669
)
Change
    in derivative liability during the period
1,339,117
Derivative
    liability balance, December 31, 2021
$
10,192,485
Debt
    modification
-
Issuance
    of derivative liability during the period
191,741
Fair
    value of beneficial conversion feature of debt converted
(
1,620,742
)
Change
    in derivative liability during the period
(
3,150,739
)
Derivative
    liability balance, June 30, 2022
$
5,612,745
26
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
14 –
Stockholders' Equity
Common
Stock
The
Board of Directors of the Company approved, on April 13, 2020, a reverse stock split of all of the Company's Common Stock, pursuant
to which every 50 shares of Common Stock of the Company was reverse split, reconstituted and converted into one share of Common Stock
of the Company (the "Reverse Stock Split"). The Company submitted an Issuer Company Related Action Notification regarding
the Reverse Stock Split to FINRA on April 14, 2020. To effectuate the Reverse Stock Split, the Company filed on April 21, 2020 a Certificate
of Change Pursuant to Nevada Revised Statutes ("NRS") Section 78.209 (the "Certificate of Change") with the Secretary
of State of the State of Nevada subject to FINRA approval. On June 8, 2020 FINRA advised the Company that such request is deficient due
to the fact that a holder of an outstanding convertible note of the Company had entered into two settlements with the SEC that related
to securities laws violations but were in no way related to the Company. As a result, FINRA advised that it is necessary for the protection
of investors, the public interest, and to maintain fair and orderly markets that documentation related to the Reverse Stock Split not
be processed. The Company appealed the decision made by FINRA on June 15, 2020. On August 4, 2020, FINRA notified the Company that its
appeal had been denied. On October 25, 2021 FINRA approved the Reverse Stock Split and on October 26, 2021, the Company effectuated a
1
for 50
reverse stock split.
During
the three months ended March 31, 2022, the Company had the following transactions in its common stock:
●
issued an aggregate of
369,198
for the conversion of convertible notes of $
35,000
; and
●
issued
463,303
shares
    to GHS from Equity Financing Agreement for gross consideration of $
68,308
, The value of the shares of was determined based on the
    Equity Financing.
During
the three months ended June 30, 2022, the Company had the following transactions in its common stock:
●
issued an aggregate of
288,672,073
for the conversion of convertible notes of $
1,660,370
and accrued interest of $
6,491
; and
●
issued
150,000,000
shares
to GBT Tokenize for certain joint venture agreement between Magic International Argentina FC, S.L. and the Company. The value of the
shares of $
1,500
was
determined based on the FV of the Company's common stock; and
●
issued
500,000,000
shares to Metaverse for certain equity method investment. The value of the shares of $
5,000
was determined based on the FV of the Company's common stock; and
●
issued
5,036,697
shares to GHS from Equity Financing Agreement for gross consideration of $
163,559
, The value of the shares of was determined based on the Equity Financing.
Series
B Preferred Shares
On
November 1, 2011, the Company and certain creditors entered into a Settlement Agreement (the "Settlement Agreement") whereby
without admitting any wrongdoing on either part, the parties settled all previous agreements and resolved any existing disputes. Under
the terms of the Settlement Agreement, the Company agreed to issue the creditors 45,000 shares of Series B Preferred Stock of the Company
on a pro-rata basis. Following the issuance and delivery of the shares of Series B Preferred Stock to said creditors, as well as surrendering
the undelivered shares, the Settlement Agreement resulted in the settlement of all debts, liabilities and obligations between the parties.
The
Series B Preferred Stock has a stated value of $100 per share and is convertible into the Company's common stock at a conversion
price of $
30.00
per share representing 30 post split common shares. Furthermore, the Series B Preferred Stock votes on an as converted
basis and carries standard anti-dilution rights. These rights were subsequently removed, except in cases of stock dividends or splits.
27
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Series
C Preferred Shares
On
April 29, 2011, GV Global Communications, Inc. ("GV") provided funding to the Company of $111,000 (the "Loan").
On September 25, 2012, the Company and GV entered into a Conversion Agreement pursuant to which the Company agreed to convert the Loan
into 10,000 shares of Series C Preferred Stock of the Company, which was approved by the Board of Directors.
Each
share of Series C Preferred Stock is convertible, at the option of GV, into such number of shares of common stock of the Company as determined
by dividing the Stated Value (as defined below) by the Conversion Price (as defined below). The Conversion Price for each share is equal
to a 50% discount to the average of the lowest three lowest closing bid prices of the Company's common stock during the 10-day
trading period prior to the conversion with a minimum conversion price of $0.02. The stated value is $11.00 per share (the "Stated
Value"). The Series C Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series C Preferred
Stock shall be entitled to one vote for each share of common stock that the Series C Preferred Stock shall be convertible into. GV
has contractually agreed to restrict its ability to convert the Series C Preferred Stock and receive shares of the Company's common
stock such that the number of shares of the Company's common stock held by it and its affiliates after such conversion does not
exceed 4.9% of the then issued and outstanding shares of the Company's common stock.
At December 31, 2021 and 2020, GV owns
700
Series C Preferred Shares.
The
issuance of the Series C Preferred Stock was made in reliance upon exemptions from registration pursuant to Section 4(a)(2) under the
Securities Act of 1933 and Rule 506 promulgated under Regulation D thereunder. GV is an accredited investor as defined in Rule 501 of
Regulation D promulgated under the Securities Act of 1933.
Series
H Preferred Shares
On
June 17, 2019, the Company, AltCorp Trading LLC, a Costa Rica company and a wholly-owned subsidiary of the Company ("AltCorp"),
GBT Technologies, S.A., a Costa Rica company ("GBT-CR") and Pablo Gonzalez, a shareholder's representative of GBT-CR
("Gonzalez"), entered into and closed an Exchange Agreement (the "GBT Exchange Agreement") pursuant to which
the parties exchanged certain securities. In accordance with the Exchange Agreement, AltCorp acquired
625,000
shares of GBT-CR representing
25% of its issued and outstanding shares of common stock from Gonzalez in exchange for
20,000
shares of Series H Convertible Preferred
Stock of the Company and a Convertible Note of $
10,000,000
issued by the Company (the "Gopher Convertible Note") as well
as additional consideration. The Gopher Convertible Note bears interest of 6% and was paid at maturity on
December 31, 2021
. At the election
of Gonzalez, the Gopher Convertible Note can be converted into a maximum of 20,000 shares of Series H Preferred Stock. Each share of
Series H Preferred Stock is convertible, at the option of the holder but subject to the Company increasing its authorized shares of common
stock, into such number of shares of common stock of the Company as determined by dividing the Stated Value ($
500
per share) by the conversion
price ($10.00 per share). The Series H Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series
H Preferred Stock shall be entitled to one vote for each share of common stock that the Series H Preferred Stock may be convertible into. On
July 8, 2019, the Company entered a Consulting Agreement with Glen Eagles Glen Eagles Acquisition LP ("Glen") as consultant
to provide services in connection with the Company's acquisition of 25% of GBT-CR. Consultant will provide analysis, interaction
with related professional and other services as requested by the Company to integrate and expand capabilities between GBT-CR and the
Company.
28
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Warrants
The
following is a summary of warrant activity.
Warrants
Outstanding
Weighted
Average
Exercise
Price
Weighted
Average
Remaining
Contractual
Life
Aggregate
Intrinsic
Value
Outstanding, December 31, 2020
392,870
$
74.97
1.76
$
—
Granted
—
Forfeited
—
Exercised
—
Outstanding, June 30, 2022
392,870
$
74.97
0.76
$
—
Exercisable, June 30, 2022
392,870
$
74.97
0.76
$
—
Equity
Purchase Agreement and Registration Rights Agreement
On
December 17, 2021 (the "Effective Date"), the Company entered into an equity financing agreement (the "Equity Financing
Agreement") and a registration rights agreement (the "Registration Rights Agreement") with GHS Investments LLC ("GHS"),
pursuant to which GHS shall purchase from the Company, up to that number of shares of common stock of the Company (the "Shares")
having an aggregate Purchase Price of $
10,000,000
, subject to certain limitations and conditions set forth in the Equity Financing Agreement
from time to time over the course of 24 months after an effective registration of the Shares with the SEC pursuant to the Registration
Rights Agreement, is declared effective by the SEC (the "Contract Period").
29
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
The
Equity Financing Agreement grants the Company the right, from time to time at its sole discretion (subject to certain conditions) during
the Contract Period, to direct GHS to purchase shares of Common Stock on any business day (a "Put"), provided that at least
10 trading days has passed since the most recent Put. The purchase price of the shares of Common Stock contained in a Put will
be 90% of the lowest daily VWAP of the Company's Common Stock during the 10 consecutive trading days preceding the receipt by
GHS of the applicable Put notice. Such sales of Common Stock by the Company, if any, may occur from time to time, at the Company's
option, during the Contract Period. Subject to the satisfaction of certain conditions set forth in the Equity Financing Agreement, on
each Put the Company will deliver an number of Shares equaling 110% of the dollar amount of each Put. The maximum dollar amount of each
Put will not exceed 200% of the average daily trading dollar volume for the Company's Common Stock during the ten trading days
preceding the Trading Day that GHS receives a Put. No Put will be made in an amount equaling less than $10,000 or greater than $500,000.
Puts are further limited to GHS owning no more than 4.99% of the outstanding stock of the Company at any given time. The Equity Financing
Agreement and the Registration Rights Agreement contain customary representations, obligations, rights, warranties, agreements and conditions
of the parties. The Equity Financing Agreement terminates upon any of the following events: when GHS has purchased an aggregate of $10,000,000
in the Common Stock of the Company pursuant to the Equity Financing Agreement; on the date that is 24 calendar months from the date the
Equity Financing Agreement was executed.
Actual
sales of shares of Common Stock to GHS under the Equity Financing Agreement will depend on a variety of factors to be determined by the
Company from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by the
Company as to the appropriate sources of funding for the Company and its operations.
For
the six months ended June 30, 2022, the Company received $
231,866
as proceeds from the equity purchase agreement for issuance of
5,500,000
registered common shares.
Note
15 –
Other Related Party Transactions
Related
parties are natural persons or other entities that have the ability, directly or indirectly, to control another party or exercise significant
influence over the party in making financial and operating decisions. Related parties include other parties that are subject to common
control or that are subject to common significant influences.
On
August 1, 2021, the Company and Danny Rittman, Chief Technology Officer and a Director of the Company, agreed to amend his employment
agreement pursuant to which he will receive salary at $5,000 per month.
On
September 1, 2017, the Company entered into and closed an Asset Purchase Agreement with a third party, RWJ Advanced Marketing, LLC ("RWJ"),
a Georgia corporation, pursuant to which the Company purchased certain assets from RWJ, including inventory, terminals, licenses and
permits and intangible assets. At closing, the Company and Mr. Greg Bauer entered into an Employment Agreement pursuant to which Mr.
Bauer was retained as Chief Executive Officer for a term of one year, subject to an automatic extension, unless terminated, in consideration
of a base salary of $
250,000
and a bonus of 10% of net profit generated by the assets acquired. Mr. Bauer was also appointed to the Board
of Directors of the Company. As of the closing date, Mr. Murray resigned as Chief Executive Officer of the Company but will remain as
a director of the Company. Mr. Bauer, since 2004 through present, has served as executive director with W.L. Petrey Wholesale, Inc. where
he was in charge of the UGO/Preway operations. The Company is in litigations in connection with RWJ transaction.
30
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
On
January 1, 2019, the Company and Douglas Davis entered into an Amended and Restated Employment Agreement pursuant to which Mr. Davis
was retained as Chief Executive Officer. Mr. Davis served as Interim Chief Executive Officer from July 2018 to April 11, 2020. The term
of Mr. Davis' employment was for two years through January 1, 2021. Mr. Davis was entitled to an annual base salary of $
250,000
,
which was to be increased to $
400,000
upon the Company up-listing to a national exchange. Mr. Davis was also entitled to the issuance
of Stock Options to acquire an aggregate of
50,000
shares of common stock of the Company, exercisable for five years, subject to vesting.
The options were to be earned and vested (i) with respect to 20,000 shares of common stock on the date hereof, (ii) 5,000 shares of common
stock upon the successful dual list of the Company on an international exchange such as SIX Zurich Stock Exchange or Euronext, (iii)
15,000 shares of common stock upon the successful up listing to a national exchange such as the Nasdaq, NYSE Euronext, TSX, AMEX or other,
and (iv) with respect to 5,000 shares of common stock at each of the six month anniversaries (July 1, 2019 and January 1, 2020). The
exercise price of such options shall be the closing price of the Company on the date prior to such event.
On
October 10, 2019, the Company entered into a Joint Venture Agreement (the "BitSpeed Agreement") with BitSpeed LLC, which
is owned by Douglas Davis, the Company's Chief Executive Officer, to form GBT BitSpeed Corp., a Nevada company ("GBT BitSpeed").
The purpose of GBT BitSpeed is to develop, maintain and support its proprietary Extreme Transfer Software Application Concurrency, a
software application to transfer secure, accelerated transmission of large file data over networks, and connection to cloud storage,
Network-Attached Storage (NAS) and Storage Area Networks (SANs) ("Concurrency"). BitSpeed shall contribute the services and
resources for the development of Concurrency to GBT BitSpeed. The Company shall contribute 10,000,000 shares of common stock (valued
at $17,900,000) of the Company to GBT BitSpeed. BitSpeed and the Company will each own 50% of GBT BitSpeed. The Company shall appoint
two directors and BitSpeed shall appoint one director of GBT BitSpeed. In addition, GBT BitSpeed and Mr. Davis entered into a Consulting
Agreement in which Mr. Davis is engaged to provide services for $10,000 per month payable quarterly which may be paid
in shares of common stock calculated by the amount owed divided by the Company's 20-day VWAP. Mr. Davis will provide services in
connection with the development of the business as well as GBT BitSpeed's capital raising efforts. The term of the Consulting Agreement
is two years. The closing of the BitSpeed Agreement occurred on October 14, 2019. On April 11, 2020, Douglas Davis resigned as Chief
Executive Officer of the Company so that he may fully devote all of his efforts to GBT Tokenize Corp., the Company's joint venture,
which intends to develop a new product. Mr. Davis' resignation was not the result of any disagreements with management or board
of directors of the Company. On June 16, 2022 the parties amended the Bitspeed Agreement to further define the constitution of the Board
of Directors. As such, Section 4.2 of the Bitspeed Agreement was amended and restated to provide that the Board of GBT Bitspeed Corp.
shall consist of two Directors, one of whom shall be appointed by Bitspeed LLC and the other shall be appointed by the Company.
On
March 6, 2020, the Company through Greenwich, entered into the Tokenize Agreement with Tokenize, which is owned by a Costa Rica Trust
represented by Gonzalez. Gonzalez also represents Gonzalez Costa Rica Trust, which holds a note of $
10,000,000
and is also a shareholder
of the Company. Under the Tokenize Agreement, the parties formed GBT Tokenize. The purpose of GBT Tokenize is to develop Technology Portfolio,
throughout the State of California. Upon generating any revenue from the Technology Portfolio, the Joint Venture will earn the first
right of refusal for other territories. Tokenize shall contribute the services and resources for the development of the Technology Portfolio
to GBT Tokenize. The Company contributed
100,000,000
GBT Shares to GBT Tokenize. Tokenize and the Company will each own 50% of GBT Tokenize.
The Company pledged its 50% ownership in GBT Tokenize and its 100% ownership of Greenwich to Tokenize to secure its Technology Portfolio
investment. The Company shall appoint two directors and Tokenize shall appoint one director of GBT Tokenize. In addition, GBT Tokenize
and Gonzalez entered into a Consulting Agreement in which Gonzalez is engaged to provide services in consideration of $
33,333
per month
payable quarterly which may be paid in shares of common stock calculated by the amount owed divided by the Company's 10-day VWAP.
Gonzalez will provide services in connection with the development of the business as well as GBT Tokenize's capital raising efforts.
The term of the Consulting Agreement is two years. The closing of the Tokenize Agreement occurred on March 9, 2020. Via this Joint Venture
the parties commenced development of a development of an intelligent human vital signs' device, suggested named qTerm.
31
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
The platform
is an expansion of the existing license agreement with GBT Tokenize Corp., which provided GBT Tokenize Corp. with an exclusive territory
of California to develop certain of the Company's technology. As the nature of the platform cannot be restricted only to California,
the Company's joint venture GBT Tokenize Corp. will be compensated with additional two hundred million shares of the Company to
strengthen its funding, subject to board approval. A provisional patent application for the qTerm Medical Device was filed on March 30,
2020 with the USPTO. The application has been assigned serial number 63001564. The Joint Venture completed successfully the first
prototype. There is no guarantee that the Company will be successful in researching, developing or implementing this product into the
market. In order to successfully implement this concept, the Company will need to raise adequate capital to support its research and,
if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic relationship
with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that the Company
will be successful in any or all of these critical steps.
Magic
Agreement
As
explained above, on April 11, 2022 the Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation
("Greenwich"), entered into a Master Joint Venture and Territorial License Agreement (the "Tokenize Agreement")
with Magic International Argentina FC, S.L. ("Magic") and Tokenize which replaced a prior joint venture entered between the
parties.
The
purpose of Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile chip
technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking, IT services,
business process outsourcing development services, customer service, technical support and quality assurance for business, customizable
and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups ("Technology
Portfolio"), throughout the world, which Technology Portfolio was previously licensed to the Company for the State of California.
The
Tokenize Agreement provides that the Company shall contribute 150,000,000 shares of common stock of the Company ("GBT Shares")
to Tokenize. Sergio Fridman is the manager of Magic and the beneficial owner of all outstanding securities of Magic. Magic will contribute
cash of $250,000 into Tokenize for promissory note and agreed to further fund Tokenize with all funds reasonably needed
for implementation of the business purposes as described in the Tokenize Agreement. The GBT Shares will not be transferable for a period
of five years.
As of June 30, 2022, the Company received the $
250,000
fund from Magic but the promissory note agreement has not been
finalized yet. Therefore, the Company recorded the $
250,000
funds as an account payable.
Magic
and the Company    each own 50% of the outstanding shares of common stock of Tokenize. The Company pledged its 50% ownership
in Tokenize and its 100% ownership of Greenwich (the "Pledged Securities") to Magic for providing that Magic may take possession
of such Pledged Securities in the event the Company executes, delivers and performs any future agreement or document or judgement resulting
in the creation of any lien, pledge, mortgage, claim, charge or encumbrance upon any assets of the Company. The Company shall appoint
two directors and Magic shall appoint one director of Tokenize.
On
June 16, 2022 the parties amended the Tokenize Agreement to further define the constitution of the Board of Directors. As such, Section
4.2 of the Tokenize Agreement was amended and restated to provide that the Board of GBT Tokenize Corp. shall consist of two Directors,
one of whom shall be appointed by GBT Tokenize Corp. and the other shall be appointed by the Company.
32
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Yello
Partners Inc.
As
of June 30, 2022 and December 31, 2021 (audited), the Company owed $
445,000
and $
385,000
to Yello Partners, Inc., a Company owned
by the Mansour Khatib, the Company's CEO.
Stanley
Hills LLC Accounts Payable – Related Party
On
March 8, 2020, SURG filed a lawsuit against its transfer agent, Vstock from transferring millions of SURG stock is currently in possession
by the Company and assigned to Stanley Hills, LLC. On January 1, 2021, SURG, AltCorp and Stanley Hills, LLC ("Stanley") entered
into a Mutual Release and Settlement Agreement ("Settlement Agreement"). Pursuant to the terms of the Settlement Agreement,
SURG agreed to amend the AltCorp Exchange Agreement where SURG acknowledged a debt of $
3,300,000
(the "Debt") to be paid
in 33 monthly payments of $
100,000
payable in shares of common stock of SURG at a per share price equal the volume weighted average price
of Surg's common stock during the ten trading days immediately preceding the issuance. SURG paid $
400,000
in cash and $
800,000
by shares. The SURG common stock issued to Altcorp have been pledged since August 12, 2020 for the benefit of Stanley to secure Stanley's
note payable by the Company. Accordingly, the SURG Common Stock issued to AltCorp as a result of the Settlement Agreement were pledged
to Stanley. As of December 31, 2021 there were no surge shares pledges after the final settlement signed on December 22, 2021 and that
replaced all prior settlement agreement. The final settlement SURG agreed to make total payments of $
4,200,000
to the Company on or prior
to January 7, 2022.
This $4.2 million amount consists of $450,000 paid by SURG in November and December 2021, $100,000 to be paid on
or about January 4, 2022, and $3,650,000 to be paid on or prior to January 7, 2022 of which $375,000 will be held in escrow as described
before. The $3,750,000 was recorded as other receivable as of December 31, 2021. As of June 30, 2022 and December 31, 2021, the Company
has recorded an outstanding payable to Stanley of $317,174 and $1,862,928, respectively, recorded under accrued expenses.
33
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Sales
to related party for the three months ended June 30, 2022 and 2021 were $
0
and $
45,000
respectively. Sales are derived from providing
IT consulting services to Stanley Hills, a related party. The Company ceased providing IT services to Stanley during the quarter ended
June 30, 2022.
Sales
to related party for the six months ended June 30, 2022 and 2021 were $
45,000
and $
90,000
respectively. Sales are derived from providing
IT consulting services to Stanley Hills, a related party. The Company ceased providing IT services to Stanley during the second quarter
ended June 30, 2022.
Advanced
from Related Party
During
the three and six months ended June 30, 2022, Mansour Khatib, the Company's CEO advanced $
154,117
and $
575,516
cash to the Company
for business use purpose to fund the Amazon operations, respectively.
During
the six months ended June 30, 2022, the Company repaid $
558,379
cash back to Mansour Khatib.
As
of June, 30, 2022 and December 31, 2021 (audited), the Company has recorded an outstanding payable balance to Mansour Khatib of
$
17,137
and $
0
,
respectively.
Metaverse
Agreement
On
June 10, 2022, the Company, entered into a Joint Venture and Territorial License Agreement (the "Metaverse Agreement") with
Ildar Gainulin and Maria Belova ("IGMB"). Under the Metaverse Agreement, the parties formed Metaverse Kit Corp., a Nevada
corporation ("Metaverse Kit"). The purpose of Metaverse Kit is to develop, maintain and support source codes for its proprietary
technologies and comprehensive platform that combines a core virtual reality platform and an extended set of real-world functions to
provide a metaverse experience initially within the area of sports and then expanding into virtual worlds of entertainment, live events,
gaming, communications and other cross over product opportunities (the "Meta Portfolio"). Under the Metaverse Agreement,
IGMB agreed to provide Metaverse Kit with the licensed technology and expertise, as requested and mutually agreed to by Company and IGMB.
In connection therewith, the parties entered an Asset Purchase Agreement concurrently with the Metaverse Agreement whereby IGMB sold
Metaverse Kit all source codes pertaining to the Meta Portfolio. Further, IGMB provided an exclusive license to Metaverse Kit throughout
the world for the invented product/service and the related platforms relating to the Meta Portfolio and to use the know how to develop,
manufacture, sell, market and distribute the Meta Portfolio throughout the world The Company shall contribute
500,000,000
shares
of common stock of the Company ("GBT Shares") to Metaverse Kit. IGBM and the Company will each own 50% of Metaverse Kit.
The Company pledged its 50% ownership in Metaverse Kit to Igor 1 Corp. to secure a convertible note held by Igor 1 Corp. The Company
shall appoint two directors and IGBM shall appoint one director of Metaverse Kit.
In
addition, Metaverse Kit, IGMB and Elentina Group, LLC ("Elentina") entered into a Consulting Agreements in which IGBM and
Elentina, each were engaged to provide services for $
25,000
per month payable quarterly which may be paid in shares of common stock calculated
by the amount owed divided by the Company's 10-day VWAP. IGBM and Elentina will provide services in connection with the development
of the business as well as Metaverse Kit's capital raising efforts. The term of the Consulting Agreement is two years.
The
closing of the Metaverse Agreement occurred on June 13, 2022 and the Company recorded the share issuance at FV of $
5,000
on the
agreement date.
On
June 16, 2022
the parties amended the Meta Agreement
to further define the constitution of Meta Board of Directors. As such, Section 4.2 of the Meta Agreement was amended and restated to
provide that the Board of Metaverse Kit Corp. shall consist of two Directors, one of whom shall be appointed by Ildar Gainulin and Maria
Belova and the other shall be appointed by the Company.
34
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
17 –
Contingencies
Legal
Proceedings
From
time to time, the Company may be involved in various litigation matters, which arise in the ordinary course of business. There is currently
no litigation that management believes will have a material impact on the financial position of the Company.
On
or around January 30, 2019, RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson sued the Company and multiple third and related
parties in Superior Court of the State of California – County of Los Angeles, General District in connection with the acquisition
of UGO in September 2017. The case number is 19STCV03320 (the "Original Lawsuit"). The complaint in the Original Lawsuit
alleges breach of contract, among other causes of action. The Company answered the complaint and filed a cross-complaint against the
plaintiffs in the case and third parties on or around February 15, 2019. On or about September 10, 2020, the Company through its agent
of service was "served" with a complaint (the Company contested service) that was recently filed against the Company and
third parties by Robert Warren Jackson and Gregory Bauer in Los Angeles Superior Court Case No.: 20STCV32709 ("Second Lawsuit").
In the Original Lawsuit filed, the court rejected the plaintiff's claims that they were filing a purported quasi-derivative lawsuit.
As such, in this current litigation, the plaintiff is now again claiming the action is a derivative lawsuit. On October 13, 2020, the
Second Lawsuit was removed by other defendants into Central District of California (CASE NO. 2:20−cv−09399−RGK−AGR).
On February 2, 2021 the Central District of California dismissed the entire Second Lawsuit based on "demand futility". In
the Original lawsuit, the Company filed a cross complaint against the plaintiff and other third parties. Recently, the court has scheduled
various hearings and a trial date set for December 27, 2021 which was later continued by the Court to September 28, 2022. It was the
Company's intention to dividend its holdings of its wholly owned subsidiary Ugopherservices Corp. ("UGO"). As UGO is
the main dispute in the litigations described above, the Company elected to sell UGO to a third-party effective July 1, 2020 (See Note
3). On September 17, 2020, the Company terminated Greg Bauer as consultant (resulting from the sale of UGO), which he confirmed in writing.
On or about June 14, 2021 the Company stipulated with plaintiff that all third parties will be released and plaintiff may file a new
first amendment complaint that will name only the Company. As such, all third parties other than prior transfer agent of the Company
have been dismissed from this litigation. The Company is in default on this note.
Following
the sale of UGO, the Company noticed third parties (including SURG, via its asset manager) to wire the UGO funds to its new bank account.
SURG never answered the notice. SURG is the clearing house for UGO. The Company noticed certain third parties that it intends to take
legal actions to resolve this issue. On November 12, 2020 the Company filed a complaint in the United States District Court – District
of Nevada – Case 2:20-cv-02078 against RWJ, Mr. Bauer, Mr. Jackson and against W.L. Petrey Wholesale Company Inc for fraud, breach
of contract, Unjust Enrichment and other claims. On January 28, 2022 the court awarded the Company an injunction against RWJ defendants,
where all fee funds generating from resale should be deposited into GBT blocked account, and therefore RWJ Defendants cannot use these
funds without court order.
35
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
On
December 3, 2018, the Company entered into a Securities Purchase Agreement (the "SPA") with Discover Growth Fund, LLC
(the "Investor") pursuant to which the Company issued a Senior Secured Redeemable Convertible Debenture (the
"Debenture") of $
8,340,000
.
In connection with the issuance of the Debenture and pursuant to the terms of the SPA, the Company issued a Common Stock Purchase
Warrant to acquire up to
225,000
shares
of common stock for a term of three years (the "Warrant") on a cash-only basis at an exercise price of $100 per share
with respect to 50,000 Warrant Shares, $75 with respect to 75,000 Warrant Shares and $50 with respect to 100,000 Warrant Shares. The
holder may not exercise any portion of the Warrants to the extent that the holder would own more than 4.99% of the Company's
outstanding common stock immediately after exercise. The outstanding principal amount may be converted at any time into shares
of the Company's common stock at a conversion price equal to 95% of the Market Price less $5 (the conversion
price is lowered by 10% upon the occurrence of each Triggering Event – the current conversion price is 75% of the Market Price
less $5). The Market Price is the average of the five lowest individual daily volume weighted average prices during the period the
Debenture is outstanding. On May 28, 2019, the Investor delivered to the Company a "Notice of Default and Notice of Sale of
Collateral" (the "Notice"). On December 23, 2019, in arbitration between the Company and the Investor, an Interim
Award was entered in favor of the Investor. On January 31, 2020, the Company was informed that a final award was entered (the
"Final Award"). The Final Award affirms that certain sections of the Debenture constitute unenforceable liquidated
damages penalties and were stricken. Further, it was determined that the Investor was entitled to recovery of their attorney's
fees. Consequently, the arbitrator awarded $
4,034,444
plus
interest of
7.25
%
from May 15, 2019 and costs of $
55,613
.
On February 18, 2020, the Company filed a motion with the United States District Court District of Nevada (the "Nevada
Court") to confirm the Final Award and a motion to consolidate Investor's application to confirm the Final Award filed
in the U.S. District Court of the Virgin Islands (Case No: 3 :20-cv-00012-CVG-RM) (the "Virgin Island Court"). On
February 27, 2020, the Nevada Court denied the Company's motion to confirm the Final Award and motion to consolidate and
further decided that the confirmation of the Final Award should be litigated in the Virgin Island Court. As such, on February 27,
2020, the Company filed a Notice of Entry of Order as well as a Motion to Confirm the Arbitration Award, address the outstanding
issues regarding whether Investor's rights are subordinated to other creditors and, thereafter, oversee a commercially
reasonable foreclosure sale (Case No: 3 :20-cv-00012-CVG-RM). It was the Company's position that the final Award must first be
confirmed and all questions regarding the rights of Investor relative to those of other creditors must be determined before any
foreclosure sale can proceed. It is further the position of the Company that the previously disclosed foreclosure sale scheduled by
Investor is being conducted in a commercially unreasonable manner and that if Discover proceeded forward with the foreclosure sale
it did so at its own risk. Nevertheless, on February 28, 2020, Investor advised that it conducted a sale of the Company's
assets. As the date of this report Investor failed to present a deed of sale for the alleged sale that allegedly took place as
noticed. The Company filed with Virgin Island Court the motions disputing the validity of the alleged sale. On July 28, 2020,
Investor filed in the State of Nevada a motion for attorneys fees $
48,844
and
cost of $
716
.
The Company filed an answer on August 11, 2020. On October 16, 2020, Investor motion for attorneys fees $
48,844
and
cost of $
716
was
denied. The balance was included in accounts payable for the unearned settlement. As of June 30, 2022, this case is still pending
with the Federal court and the Court has not taken any substantive action in the matter as of the date of this report.
36
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
GBT
Technologies, S.A.
On
September 14, 2018, the Company entered into an Exclusive Intellectual Property License and Royalty Agreement (the "GBT License
Agreement") with GBT-CR, a fully compliance and regulated    crypto currency exchange platform that currently operates
in Costa Rica as a decentralized crypto currency platform, pursuant to which, among other things, the Company granted to GBT-CR an exclusive,
royalty-bearing right and license relating intellectual property relating to systems and methods of converting electronic transmissions
into digital currency as reflected in that certain patent filed with the United Stated Patent and Trademark Office on or about June 14,
2018 (EFS ID: 32893586; Application Number: 16008069; Type: Utility under 35 USC 111(a); Confirmation Number: 6787)(collectively, the
"Digital Currently Technology"). Pursuant to the GBT License Agreement, the Company granted GBT-CR an exclusive worldwide
license to use the Digital Currency Technology to make, use, sell, lease or otherwise commercialize and dispose of products and devices
utilizing the Digital Currently Technology. Under the terms of the GBT License Agreement, the Company is entitled to receive a royalty
of 2% of gross revenue of each licensed product sold by GBT-CR during the period starting in which revenue is first generated using the
licensed products and continuing for five years thereafter. Upon signing the GBT-CR License Agreement, GBT-CR paid the Company $
300,000
which is nonrefundable. The Company has recognized the $300,000 as revenue during the year ended December 31, 2018. Upon GBT-CR
making available for sale (the "Commercial Event") an ICO (Initial Coin Offering) (the "Coin"), GBT-CR will make
a payment to the Company of $
5,000,000
. Further, upon the Commercial Event, GBT-CR will grant the Company the ability to acquire 30%
of the Coin at a 30% discount of such offering price of the Coin. The GBT License Agreement commenced as of the signing date and, unless
terminated in accordance with the termination provisions of the GBT License Agreement, shall remain in force until the expiration of
the patent pertaining to the Digital Currency Technology; provided that the right to use trade, secrets shall survive the expiration
of the GBT License Agreement provided the Company has not terminated. Prior to the signing of the GBT License Agreement, GBT-CR advanced
$
200,000
to the Company, which the parties agreed will be applied toward the $5,000,000 fee when it becomes due. On February 27,
2020 GBT Technologies, S.A., as successor in interest to Hermes Roll, LLC had notified the Company that it was in default on its Amended
and Restated Territorial License Agreement ("ARTLA") dated June 15, 2015 and that the ARTLA had been cancelled and rescinded.
In
connection with SURG Exchange Agreement – On November 4, 2020, Altcorp and Stanley filed an Ex Parte Motion in the District Court,
Clark County, Nevada (Case No: A-20-823039-B, in Dep No: 43) to appoint a receiver and issue a temporary restraining Order against SURG
and its transfer agent for alleged defaults on prior exchange agreement. On December 4, 2020, the parties entered an interim agreement
which set the material terms of the settlement. A final settlement was achieved on January 1, 2021. On March 4, 2021 the Company filed
a motion to enforce settlement agreements, as the Company alleged that SURG owes an additional $240,000 which is due and owing under
the settlement agreements.
On
June 24, 2021 per the June 23, 2020 Agreement, the Company together with AltCorp sent SURG and its transfer agent via registered mail,
a true-up shares demand for an additional
14,870,370
SURG shares as calculated per the Agreement. As of the filing date of this report,
SURG's transfer agent did not answer the Company's request.
Subsequently,
SURG was a party to two lawsuits in state District Court, the Eighth Judicial District Court for Clark County, Nevada involving AltCorp,
Stanley and Glen Eagles Acquisition LP (the "AltCorp Parties."). Each of these lawsuits were ultimately disputes relating
to the total consideration SURG was to pay the Company under the APA.
On
October 18, 2021, the AltCorp Parties, the Company, and SURG entered into a Memorandum of Understanding (the "MOU") to set
up a framework for an attempt to settle the two lawsuits.
37
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
On
December 22, 2021 (the "Effective Date"), pursuant to the framework in the MOU, the AltCorp Parties (and an additional third
party), the Company, ECS, and SURG, Kevin Brian Cox (SURG's Chief Executive Officer) – in his individual capacity, entered
into a Resolution of Purchase, Mutual Release, and Settlement Agreement (the "Final Settlement Agreement") to settle the
two lawsuits and resolve all disputes related to the consideration paid by SURG to the Company in connection with the APA.
On
or about July 9, 2021 the Company filed a lawsuit in District Court in Clack County Nevada – Department 19 (Case number A-21-837631-C)
against Terry Taylor and TTSG Holdings, Inc for breach of contract, breach of covenant of Good Faith and Fair Dealing, Unjust Enrichment
and declaratory relief for failure of providing consulting services per contract they entered. The Company is demanding the return of
12,000,000
shares issued, return of the $
5,000
payments, recission of the consulting agreement, and attorney's fees and costs.
The lawsuit is still pending as of the date of this report. As Terry Taylor and TTSG Holdings failed to appear to a notice of deposition,
the Company filed for a summary judgment.
Gregory
Mancuso and Rainer AG
On
or about February 2, 2022, GBT was served with a First Amended Complaint (the "Complaint") initiated by Gregory Mancuso and
Rainer AG, a Swiss corporation, Case No. 21SMCV01430, filed in the Superior Court of the State of California for the County of Los Angeles.
The Complaint names a number of different parties, including GBT, and asserts, among other things, claims for conversion, unjust enrichment,
breach of contract, and breach of implied covenant of fair dealing, which Plaintiffs allege arise out of a brokerage agreement entered
into between Plaintiff Rainer AG and co-defendant Consul Group re Dos Mil Veintiuno S.R.L ("Consul"). GBT was sued under
an alter ego theory of liability, and its only involvement in the above-referenced chain of events seems to be that its shares were deposited
with Rainer by Consul upon the opening of the brokerage account. GBT will be filling    a demurrer to the First Amended
Complaint based on a variety of deficiencies with the First Amended Complaint, and will ask the Court to dismiss the claims against GBT.
Stock
Loan Receivable
On
January 8, 2019, the Company entered into a Stock Pledge Agreement with Latin American Exchange Latinex Casa de Cambio, S.A., a Costa
Rica corporation ("Latinex"), to provide that Latinex may maintain its required regulatory capital as required by various
regulators. The Company pledged
4,005
restricted shares of its common stock valued at $
7,610,147
(based on the closing
price on the grant date) for three years in consideration of an annual payment of $
375,000
paid in quarterly installments of $
93,750
.
In lieu of cash payment, Latinex may pay the Company in virtual currency of WISE Network S.A. valued at a 50% discount of its offering
price of $10 per token. In the event that Latinex's required capital has decreased below $
5,000,000
, Latinex is permitted to sell
the pledged shares of common stock only in an amount to ensure that Latinex can satisfy the required capital levels. The Company must
consent to such sale of the shares of common stock, which may not be unreasonably withheld. Upon expiration of the agreement, the remaining
shares of common stock shall be returned to the Company free and clear of all liens. The Company recorded the value of these shares of
common stock as a stock loan receivable which is presented as a contra-equity account in the accompanying consolidated balance sheets.
At December 31, 2019, the Company wrote off the accrued interest income as Latinex did not perform any payment and the Company has no
mean to enforce this payment. Latinex agreed in principle to return the pledged 4,005 restricted   shares to the Company for
cancellation. The
4,005
restricted shares have not yet been returned to the Company as of June 30, 2022.
Assignment
of lease agreement
On
May 17, 2022, Mahaser LLC ("Assignee") entered into an assignment and assumption of lease agreement by and between 2819 Coldwater
LLC ("Assignor"), Sunset Place Holdings LLC ("Lessor") and Yossi Attia ("Guarantor"). Pursuant to
the agreement, Lessor agreed to lease to Assignor certain Standard Industrial/Commercial Multi-Tenant Lease – Gross agreement dated
February 7, 2022 (the "Lease") and expiring on January 31, 2024, which premises commonly known as 8265 Sunset Boulevard,
Suite #107, West Hollywood, CA 90046. The base rent payment shall equal $4,100 per month and share of common area operating expense shall
equal $
200
per month. Guarantor has guaranteed payment of Assignor's obligations under the Lease and Assignor assigned all of its
right, title and interest in the Lease to Assignee and Assignee assumed Assignor's obligations under the Lease.
38
GBT
Technologies, Inc.
Notes
to Condensed Consolidated Financial Statements
June 30, 2022 and 2021 (Unaudited)
Note
18 –
Concentrations
Concentration
of Credit Risk
Financial
instruments, which potentially subject the Company to a concentration of credit risk, consist principally of temporary cash investments.
There have been no losses in these accounts through June 30, 2022.
Customers
For
the three months ended June 30, 2022, our Company earned net revenues of $
344,981
. $
3,381
of Sales derived from eBay, and $
341,600
of
sales were derived from Amazon sales.
For
the six months ended June 30, 2022, our Company earned net revenues of $
614,951
. $
45,000
sales were derived from providing IT consulting
services to a related party and $
569,951
sales were derived from e-commerce sales. The IT consulting service was terminated during the
quarter ended June 30, 2022.
Note
19 –
Income Taxes
No
income tax expense reflected in the consolidated statements of operations for the six months ended June 30, 2022 and 2021. The Company has
a $
485,102
net income during the six months ended June 30, 2022 but it was mainly from the gain of change in fair value in derivative
of $
3,150,739
and it is a non-taxable event so would have a taxable loss, and continue to record a valuation allowance.
Note
20 –
Subsequent Events
Management
has evaluated events that occurred subsequent to the end of the reporting period shown herein:
In
July 7, 2022 the Company filed a preliminary information statement to the stockholders of record (the "Record Date") in connection
with certain actions to be taken by the written consent by stockholders holding a majority of the voting stock of the Company, dated
as of June 28, 2022. The actions to be taken pursuant to the written consent shall be taken on or about mid-August 2022, 20 days after
the mailing of this information statement.
The
following actions will be taken pursuant to a written consent of stockholders holding a majority of the issued and outstanding voting
shares of the Company dated June 28, 2022, in lieu of a special meeting of the stockholders. Such actions will be taken on or about mid-August,
2022:
●
To amend the Company's
    Articles of Incorporation, (the "Articles of Incorporation") to increase the number of authorized shares of common stock,
    par value $
0.00001
per share (the "Common Stock"), of the Company from
2,000,000,000
shares to 10,000,000,000 shares.
●
(i) authorize the Company's
    Board of Directors to effect, in its sole discretion, a reverse stock split of the Common Stock in a ratio of up to 1-for-500 (the
    "Reverse Stock Split"), and (ii) authorize the filing of an amendment to the Company's Articles of Incorporation
    to implement the Reverse Stock Split and any other action deemed necessary to effectuate the Reverse Stock Split, without further
    approval or authorization of stockholders, at any time prior to December 31, 2023.
A
DEFINITIVE INFORMATION STATEMENT WAS MAILED TO ALL SHAREHOLDERS OF RECORDS ON JULY 21, 2022
Subsequent
common stock issuance
Subsequent
to June 30, 2022, there were multiple note holders elected to convert $
198,900
principal amount into
150,000,000
shares of the Company's
common stock.
39
ITEM
2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION
The
following discussion should be read in conjunction with our financial statements and related notes included elsewhere in this report.
In addition to historical information, this discussion includes forward-looking information that involves risks and assumptions, which
could cause actual results to differ materially from management's expectations. See "Forward-Looking Statements" included
in this report.
Forward-Looking
Statements
This
Quarterly Report on Form 10-Q contains forward looking statements, including without limitation, statements related to our plans, strategies,
objectives, expectations, intentions and adequacy of resources. Investors are cautioned that such forward-looking statements involve
risks and uncertainties including without limitation the following: (i) our plans, strategies, objectives, expectations and intentions
are subject to change at any time at our discretion; (ii) our plans and results of operations will be affected by our ability to manage
growth; and (iii) other risks and uncertainties indicated from time to time in our filings with the Securities and Exchange Commission.
In
some cases, you can identify forward-looking statements by terminology such as ''may,'' ''will,''
''should,'' ''could,'' ''expects,'' ''plans,''
''intends,'' ''anticipates,'' ''believes,'' ''estimates,''
''predicts,'' ''potential,'' or ''continue'' or the negative
of such terms or other comparable terminology. Although we believe that the expectations reflected in the forward-looking statements
are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. Moreover, neither we nor any other
person assumes responsibility for the accuracy and completeness of such statements. Readers are cautioned not to place undue reliance
on these forward-looking statements, which speak only as of the date hereof. We are under no duty to update any of the forward-looking
statements after the date of this Report.
This
section of the report should be read together with Footnotes of the Company audited financials for the year ended December 31, 2021,
the unaudited statements of operations for the three ended June 30, 2022 and 2021 are compared in the sections below.
General
Overview
GBT
Technologies Inc. (the "Company", "GBT", or "GTCH") was incorporated on July 22, 2009 under the laws
of the State of Nevada. The Company is targeting growing markets such as development of Internet of Things (IoT) and Artificial Intelligence
(AI) enabled networking and tracking technologies, including wireless mesh network technology platform and fixed solutions, development
of an intelligent human body vitals device, asset-tracking IoT, and wireless mesh networks. The Company derived revenues from (i) the
provision of IT consulting services; and (ii) from selling electronic products through e-commerce platforms like Amazon and eBay.
GBT
Tokenize Joint Venture (totally Impaired in 2021)
On
March 6, 2020, the Company through Greenwich, entered into a Joint Venture and Territorial License Agreement (the "Tokenize Agreement")
with Tokenize-It, S.A. ("Tokenize"), which is owned by a Costa Rica Trust represented by Pablo Gonzalez ("Gonzalez").
Gonzalez also represents Gonzalez Costa Rica Trust, which holds a note in the principal amount of $10,000,000 and is also a shareholder
of the Company. Under the Tokenize Agreement, the parties formed GBT Tokenize Corp., a Nevada corporation ("GBT Tokenize").
The purpose of GBT Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile
chip technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking,
IT services, business process outsourcing development services, customer service, technical support and quality assurance for business,
customizable and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups
("Technology Portfolio"), throughout the State of California. Upon generating any revenue from the Technology Portfolio,
the Joint Venture will earn the first right of refusal for other territories. The Company pledged its 50% ownership in GBT Tokenize and
its 100% ownership of Greenwich to Tokenize to secure its Technology Portfolio investment. The Company shall appoint two directors and
Tokenize shall appoint one director of GBT Tokenize. Tokenize shall contribute the services and resources for the development of the
Technology Portfolio to GBT Tokenize. The Company shall contribute 2,000,000 shares of common stock of the Company ("GBT Shares")
to GBT Tokenize. Tokenize and the Company will each own 50% of GBT Tokenize. The shares were valued at $5,500,000.
In
addition, GBT Tokenize and Gonzalez entered into a Consulting Agreement in which Gonzalez is engaged to provide services for $33,333
per month payable quarterly which may be paid in shares of common stock calculated by the amount owed divided by the Company's
10-day VWAP. Gonzalez will provide services in connection with the development of the business as well as GBT Tokenize's capital
raising efforts. The term of the Consulting Agreement is two years. During the year ended December 31, 2021, Gonzalez assigned all his
accrued balances of $424,731 to Stanley Hills in a private transaction that the Company is not part to. The closing of the Tokenize Agreement
occurred on March 9, 2020.
40
Through
this Joint Venture the parties commenced development of an intelligent human vital signs' device, which we currently refer to as
the qTerm. The platform is an expansion of the existing license agreement with GBT Tokenize Corp., which provided GBT Tokenize Corp.
with an exclusive territory of California to develop certain of the Company's technology. As the nature of the platform cannot
be restricted only to California, the Company's joint venture GBT Tokenize Corp. will be compensated with additional two hundred
million shares of the Company to strengthen its funding, subject to board approval. A provisional patent application for the qTerm Medical
Device was filed on March 30, 2020 with the USPTO. The application has been assigned serial number 63001564. The Joint Venture completed
successfully the first prototype. There is no guarantee that the Company will be successful in researching, developing or implementing
this product into the market. In order to successfully implement this concept, the Company will need to raise adequate capital to support
its research and, if successfully researched, developed and granted regulatory approval, the Company would need to enter into a strategic
relationship with a third party that has experience in manufacturing, selling and distributing this product. There is no guarantee that
the Company will be successful in any or all of these critical steps.
On
May 28, 2021, the parties agreed to amend the Tokenize Agreement to expand territory granted for the Technology Portfolio under the license
to GBT Tokenize to include the entire continental United States. The Company has further agreed to issue GBT Tokenize an additional 14,000,000
shares of common stock of the Company. The shares were valued at $15,400,000. At March 31, 2020, the Company evaluated the carrying amount
of this joint venture investment and determined it was fully impaired and recorded an impairment charge of $5,500,000 was taken. At December
31, 2021, the Company evaluated the carrying amount of this joint venture investment and determined that this investment was fully impaired
and as a result an impairment charge of $15,400,000. Although the investment was impaired, the product development is still ongoing.
The carrying amount of this investment at June 30, 2022 and December 2021, was $0 and $0, respectively.
Magic
Agreement
As
explained above, on April 11, 2022 the Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation
("Greenwich"), entered into a Master Joint Venture and Territorial License Agreement (the "Tokenize Agreement")
with Magic International Argentina FC, S.L. ("Magic") and Tokenize which replaced a prior joint venture entered between the
parties.
The
purpose of Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile chip
technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking, IT services,
business process outsourcing development services, customer service, technical support and quality assurance for business, customizable
and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups ("Technology
Portfolio"), throughout the world, which Technology Portfolio was previously licensed to the Company for the State of California.
The
Tokenize Agreement provides that the Company shall contribute 150,000,000 shares of common stock of the Company ("GBT Shares")
to Tokenize. Sergio Fridman is the manager of Magic and the beneficial owner of all outstanding securities of Magic. Magic will contribute
cash of $250,000 into Tokenize in consideration of a promissory note and agreed to further fund Tokenize with all funds reasonably needed
for implementation of the business purposes as described in the Tokenize Agreement. The GBT Shares will not be transferable for a period
of five years.
Magic
and the Company each own 50% of the outstanding shares of common stock of Tokenize. The Company pledged its 50% ownership in Tokenize
and its 100% ownership of Greenwich (the "Pledged Securities") to Magic for providing that Magic may take possession of such
Pledged Securities in the event the Company executes, delivers and performs any future agreement or document or judgement resulting in
the creation of any lien, pledge, mortgage, claim, charge or encumbrance upon any assets of the Company. The Company shall appoint two
directors and Magic shall appoint one director of Tokenize.
On
June 16, 2022 the parties amended the Tokenize Agreement to further define the constitution of the Board of Directors. As such, Section
4.2 of the Tokenize Agreement was amended and restated to provide that the Board of GBT Tokenize Corp. shall consist of two Directors,
one of whom shall be appointed by GBT Tokenize Corp. and the other shall be appointed by the Company.
41
GTX
Agreement
On
April 12, 2022, GBT Tokenize Corp ("Tokenize"), a Nevada corporation which the Company owns 50% of the outstanding shares
of common stock, entered into a series of agreements with GTX Corp ("GTX") and various note holders of GTX pursuant to which
Tokenize acquire convertible promissory notes of GTX in the principal amount of $100,000 (the "GTX Notes"). In addition,
Tokenize acquired 5,000,000 shares of common stock of GTX for a purchase price of $150,000.
The
GTX Notes bear 10% interest and 50% of the principal may be converted into shares of common stock on a one-time basis   at
$0.01 per share. The remaining 50% of the principal must be paid in cash.
The
closing occurred on April 12, 2022.
Revenue
Sharing Agreement – Variable Interest Entity (VIE)
On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement ("RSA") with Mahaser LTD.
("Mahaser") pursuant to which the Company acquired the opportunity to share in revenues generated by Mahaser with respect
to e-commerce sales through the online retail platform in the United States of America. Mahaser owns an e-commerce platform as a store
which is the legal, exclusive owner of Ravenholm Electronics. The Company will operate the e-commerce platform and will be entitled to
95% for all revenue generated by and received by Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides
that the Company will be entitled to appoint a manager to Mahaser. As consideration, the Company will pay Mahaser $100,000 no later
than March 1, 2022 and issue Mahaser 1,000,000 shares of the Company's restricted common stock. The Company shall have
no obligations to make any further payments to Mahaser. For any further extensions, the Company will have the option to extend the RSA
for annual payment of $200,000, which can be payable with the Company's shares of common stock payable based on 20 days VWAP prior
to issuance. On March 16, 2022 the parties entered into Amendment No. 1 to the to the RSA, where all consideration to be paid or
issued to Mahaser will be deferred until such time where the e-commerce platform generated in cumulative revenue of $1,000,000. The Company
accounts for the RSA as a consolidated variable interest entity ("VIE") for the period ended June 30, 2022. On March 31,
2022, the parties entered into Amendment No. 2 to the RSA, where Mahaser agreed to pay the Company 100% per year for all revenue generated
by and received by seller from the sales by Amazon within the United States of America as follows for the period from March 1, 2022 through
December 31, 2022. The Company will be responsible for 100% of the cost of goods sold as well. In addition, the Company is entitled to
earn 100% revenues and cost of goods sold of the test run period from February 1, 2022 to February 28, 2022.
COVID-19
Pandemic
The
Company operates in a high-tech marketplace and relies on professionals and partnerships all over the world, which is impacted by the
global pandemic, causing the Company's resources to be affected. Our business operations have been and may continue to be materially
and adversely affected by the coronavirus disease COVID-19. An outbreak of respiratory illness caused by COVID-19 emerged in Wuhan city,
Hubei province, PRC, in late 2019 and expanded globally. COVID-19 is considered to be highly contagious and poses a serious public health
threat. On March 19, 2020, California Governor Gavin Newsom issued a stay-at-home order to protect the health and well-being of all Californians
and to establish consistency across the state in order to slow the spread of COVID-19. California was therefore under strict quarantine
control and travel has been severely restricted, resulting in disruptions to work, communications, and access to files (due to limited
access to facilities). Since then, other measures have been imposed in other countries and major cities in the USA, including Los Angeles,
and throughout the world in an effort to contain the COVID-19 outbreak. The World Health Organization (the "WHO") is closely
monitoring and evaluating the situation. On March 11, 2020, the WHO declared the outbreak of COVID-19 a pandemic, expanding its assessment
of the threat beyond the global health emergency it had announced in January. Any outbreak of such epidemic illness or other adverse
public health developments in the USA or elsewhere in the world may materially and adversely affect the global economy, our markets and
our business. The stay-at-home order was lifted in California only on January 25, 2021.
42
In
the first quarter of 2020, the COVID-19 outbreak caused disruptions in our development operations, which resulted in delays on exiting
projects. The State of California and the economy in general has begun to slowly re-open following the introduction of the COVID-19 vaccine.
However, in the event COVID-19 or other variant is to again surface any further unforeseen delay in our operations of the development,
delivery and assembly process within any of our activities could continue to result in, increased costs and reduced revenue.
We
cannot foresee whether the outbreak of COVID-19 and its variants will continue to be effectively contained. If the outbreak of COVID-19
is not effectively and timely controlled, our business operations and financial condition may be materially and adversely affected as
a result of the deteriorating market outlook for sales, the slowdown in regional and national economic growth, weakened liquidity and
financial condition of our customers and vendors or other factors that we cannot foresee. Any of these factors and other factors beyond
our control could have an adverse effect on the overall business environment, cause uncertainties, cause our business to suffer in ways
that we cannot predict and materially and adversely impact our business, financial condition and results of operations.
Results
of Operations:
Three
months ended June 30, 2022 and 2021
A
comparison of the statements of operations for the three months ended June 30, 2022 and 2021 is as follows:
Change
2022
2021
$
%
Sales
$
344,981
$
—
344,981
100
%
Consulting income – related party
—
45,000
(45,000
)
-100
%
Total sales
344,981
45,000
299,981
667
%
Cost of goods sold
179,471
—
179,471
100
%
Gross profit
165,510
45,000
120,510
268
%
Operating expenses
926,342
16,100,213
(15,173,871
)
-94
%
Loss from operations
(760,832
)
(16,055,213
)
15,294,381
-95
%
Other expense
(2,680,306
)
(10,993,442
)
8,310,972
-76
%
Loss before provision for income taxes
(3,441,137
)
(27,048,655
)
23,605,353
-87
%
Provision for income taxes
—
—
—
0
%
Net loss
$
(3,441,137
)
$
(27,048,655
)
23,605,353
-87
%
For
the three months ended June 30, 2021, our Company earned net revenues of $45,000. All sales were derived from providing IT consulting
services to a related party.
For
the three months ended June 30, 2022, our Company earned net revenues of $344,981. All sales were derived from Amazon that commenced
in the
first quarter of 2022
.
Operating
expenses for the three months ended June 30, 2022 were $926,342, compared to $16,100,213 for the period in 2021. The decrease of $15,173,871,
or 94% was principally due to an decrease in one time impairment of assets of $15,400,000 incurred in same period of 2021.
Other
expense for the three months ended June 30, 2022 was $2,680,306, compared to $10,993,442 for the period in 2021. The decrease of $8,310,972,
or 76% was principally due to an increase in the change in fair value of derivative liability.
Net
loss for the three months ended June 30, 2022 was $3,441,137 compared to $27,048,655 for the period in 2021 due to the factors described
above.
43
Six
months ended June 30, 2022 and 2021
A
comparison of the statements of operations for the six months ended June 30, 2022 and 2021 is as follows:
Change
2022
2021
$
%
Sales
$
569,951
$
—
569,951
100
%
Consulting income - related party
45,000
90,000
(45,000
)
-50
%
Total sales
614,951
90,000
524,951
583
%
Cost of goods sold
388,458
—
388,458
100
%
Gross profit
226,493
90,000
136,493
152
%
Operating expenses
1,932,744
16,940,471
(15,007,727
)
-89
%
Loss from operations
(1,706,251
)
(16,850,471
)
15,144,220
-90
%
Other income (expense)
2,191,352
(15,573,793
)
17,762,981
-114
%
Income (loss) before provision for income taxes
485,102
(32,424,264
)
32,907,201
-101
%
Provision for income taxes
—
—
—
0
%
Net income (loss)
$
485,102
$
(32,424,264
)
32,907,201
-101
%
For
the six months ended June 30, 2021, our Company earned net revenues of $90,000. All sales were derived from providing IT consulting services
to a related party.
For
the period ended June 30, 2022, our Company earned net revenues of $614,951. $45,000 sales were derived from providing IT consulting
services to a related party, and $569,951 sales were derived from Amazon that commenced in the first quarter of 2022. The IT consulting
service was terminated in the second quarter of 2022.
Operating
expenses for the six months ended June 30, 2022 were $1,932,744, compared to $16,940,471 for the 2021 period. The decrease of $15,007,727,
or 89%was principally due to a decrease in one time impairment of assets of $15,400,000 which incurred in 2021 period.
Other
income (expense) for the six months ended June 30, 2022 was $2,191,352, compared to $(15,573,793) for the same period in 2021. The decrease
of $17,762,981, or 114%was principally due to an increase in the change in fair value of derivative liability of $3,943,925 and decrease
in one time loss on debt modification of $13,777,480 which incurred in 2021 period.
Net
income (loss) for the six months ended June 30, 2022 was $485,102 compared to $(32,424,264) for 2021 period due to the factors described
above.
Liquidity
and Capital Resources
Going
Concern
The
accompanying condensed CFS were prepared assuming that the Company will continue as a going
concern. The Company has an accumulated deficit of $304,096,671 and has a working capital deficit of $24,370,394 as of June
30, 2022, which raises substantial doubt about its ability to continue as a going concern.
The
Company's ability to continue as a going concern is dependent upon its ability to generate profitable operations in the future
and/or obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when
they come due. Management has plans to seek additional capital through some private placement offerings of debt and equity securities.
These plans, if successful, will mitigate the factors which raise substantial doubt about the Company's ability to continue
as a going concern. These consolidated financial statements do not include any adjustments relating to the recoverability and classification
of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.
Our
cash and restricted cash were $390,326 and $0 at June 30, 2022 and December 31, 2021, respectively. Cash provided by (used in) operating
activities during the six months ended June 30, 2022 was $235,328, compared to $(946,462) during 2021 period. The amount provided by
operating activities for the six months ended June 30 2022 was primarily related to a net income of $482,938 and offset by amortization
of debt discount of $307,879, gain in fair value of derivative liability of $3,150,739, loss on investment of $240,000. Our working capital
position changed by going from a working capital deficit of $28,388,581 at December 31, 2021 to a working capital deficit of $24,372,558
at June 30, 2022.
Cash
flows used in investing activities were $275,000 during the period ended June 30, 2022, compared to $0 for 2021 period. The increase
is due to the Stock Purchase Agreement with Marko Radisic and Touchpoint Group Holdings, Inc., the Intellectual Property License and
Royalty Agreement with
Touchpoint Group Holdings, Inc. and the series agreements with GTX Corp.
Cash
from financing activities for the period ended June 30, 2022 was $349,002, compared to $851,884 for 2021 period. The change was primarily
due to a decrease in proceeds from convertible notes of $651,884, and an increase in proceed from sales of common stock of $231,865 and
an increase in proceeds from related party of $575,516 and repayments to related party of $558,379. Cash from financing activities for
the period ended June 30, 2021 was due to the issuance of convertible notes and notes payable in 2021 of $851,884.
We
sustained net income of $485,102 for the six months ended June 30, 2022. In addition, we had a working capital deficit of $24,370,394
and accumulated deficit of $304,096,671 at June 30, 2022.
44
Equity
Purchase Agreement and Registration Rights Agreement
On
December 17, 2021 (the "Effective Date"), the Company entered into an equity financing agreement (the "Equity Financing
Agreement") and a registration rights agreement (the "Registration Rights Agreement") with GHS Investments LLC ("GHS"),
pursuant to which GHS shall purchase from the Company, up to that number of shares of common stock of the Company (the "Shares")
having an aggregate Purchase Price of $10,000,000, subject to certain limitations and conditions set forth in the Equity Financing Agreement
from time to time over the course of 24 months after an effective registration of the Shares with the Securities and Exchange Commission
(the "SEC") pursuant to the Registration Rights Agreement, is declared effective by the SEC (the "Contract Period").
The
Equity Financing Agreement grants the Company the right, from time to time at its sole discretion (subject to certain conditions) during
the Contract Period, to direct GHS to purchase shares of Common Stock on any business day (a "Put"), provided that at least
ten trading days has passed since the most recent Put. The purchase price of the shares of Common Stock contained in a Put will
be 90% of the lowest daily volume weighted average price (VWAP) of the Company's Common Stock during the ten consecutive trading
days preceding the receipt by GHS of the applicable Put notice. Such sales of Common Stock by the Company, if any, may occur from time
to time, at the Company's option, during the Contract Period. Subject to the satisfaction of certain conditions set forth in the
Equity Financing Agreement, on each Put the Company will deliver a number of Shares equaling 110% of the dollar amount of each Put. The
maximum dollar amount of each Put will not exceed 200% of the average daily trading dollar volume for the Company's Common Stock
during the ten trading days preceding the Trading Day that GHS receives a Put. No Put will be made in an amount equaling less than $10,000
or greater than $500,000. Puts are further limited to GHS owning no more than 4.99% of the outstanding stock of the Company at any given
time. The Equity Financing Agreement and the Registration Rights Agreement contain customary representations, obligations, rights, warranties,
agreements and conditions of the parties. The Equity Financing Agreement terminates upon any of the following events: when GHS has purchased
an aggregate of $10,000,000 in the Common Stock of the Company pursuant to the Equity Financing Agreement; on the date that is 24 calendar
months from the date the Equity Financing Agreement was executed.
Actual
sales of shares of Common Stock to GHS under the Equity Financing Agreement will depend on a variety of factors to be determined by the
Company from time to time, including, among others, market conditions, the trading price of the Common Stock and determinations by the
Company as to the appropriate sources of funding for the Company and its operations. For the six months ended June 30, 2022, the Company
received $231,866 as proceeds from the equity purchase agreement for issuance of 5,500,000 registered common shares.
$10,000,000
for GBT Technologies S. A. acquisition (assigned to a third-party Igor 1 Corp)
In
accordance with the acquisition of GBT Technologies, S.A., a Costa Rican corporation ("GBT-CR") the Company issued a convertible
note in the principal amount of $10,000,000. The convertible note bears interest of 6% and was payable at maturity on December 31, 2021.
At the election of the holder, the convertible note can be converted into a maximum of 20,000 shares of Series H Preferred Stock. Each
share of Series H Preferred Stock is convertible, at the option of the holder but subject to the Company increasing its authorized shares
of common stock, into such number of shares of common stock of the Company as determined by dividing the Stated Value ($500 per share)
by the conversion price ($10 per share). On May 19, 2021, the Company, IGOR 1 Corp, and Gonzalez GBTCR (none related parties) entered
into a Mutual Release and Settlement Agreement and Irrevocable Assignment of Note Balance Principal and Accrued Interest (the "Gonzalez
Agreement"). Pursuant to the Gonzalez Agreement, without any party admission of liability and to avoid litigation, the parties
has agreed to (i) extend the GBT Convertible Note maturity date to December 31,2022, (ii) amend the GBT Convertible Note
terms to include a beneficial ownership blocker of 4.99% and a modified conversion feature to the GBT Convertible Note with 15% discount
to the market price during the 20 trading day period ending on the latest complete trading day prior to the conversion date and (iii)
provided for an assignment of the GBT Convertible Note by Gonzalez to a third party. As a result of the change in terms of this convertible
note, the Company took a charge related to the modification of debt of $13,777,480 during the year ended December 31, 2021.
45
During
the year ended December 31, 2021, IGOR 1 converted $1,284,600 of the convertible note into 4,185,650 shares of the Company's
common stock. Also, on June 24, 2021, the Company transferred 5,500,000 SURG shares received as repayment of $660,000 of this convertible
note (See Note 4).
As
of June 30, 2022, the note had an outstanding balance of $6,728,731 and accrued interest of $1,778,497.
Glen
Eagles Acquisition LP
On
July 8, 2019, the Company entered a Consulting Agreement with Glen Eagles Acquisition LP ("Glen") as consultant to provide
services in connection with the Company's acquisition of 25% of GBT-CR. Consultant will provide analysis, interaction with related
professional and other services as requested by the Company to integrate and expand capabilities between GBT-CR and the Company. The
Company shall pay Glen $1,000,000 through the issuance of a 6% Convertible Note. At the election of Glen, the Convertible Note can be
converted into a maximum of 2,000 shares of Series H Preferred Stock. Each share of Series H Preferred Stock is convertible, at the option
of the holder but subject to the Company increasing its authorized shares of common stock, into such number of shares of common stock
of the Company as determined by dividing the Stated Value ($500 per share) by the conversion price ($10 share). The Series H
Preferred Stock has no liquidation preference, does not pay dividends and the holder of Series H Preferred Stock shall be entitled to
one vote for each share of common stock that the Series H Preferred Stock may be convertible into. In addition, the Company entered into
an Amendment of a Common Stock Purchase Warrant held by Glen to acquire nine million shares of common stock that had been assigned to
Glen by Guardian Patch LLC. Pursuant to the amendment, the Company agreed to provide that the Common Stock Purchase Warrant may be exercised
on a cashless basis and provided a beneficial ownership limitation of 4.99%. On or about June 23, 2020, the Company and AltCorp entered
into agreements with SURG and Glen Eagles Acquisition LP ("Glen") into series of agreements regarding the $4,000,000 SURG
Note. Glen converted in full its $1,000,000 convertible note that was issued by the Company on July 8, 2019 plus $50,000 of accrued interest,
into $1,050,000 of a SURG Note via an assignment of a portion ($1,050,000 of a $4,000,000 face value) of the $4,000,000 SURG Note. In
addition, the Company entered into a consulting agreement with Glen for which the Company shall pay to Glen $200,000 via an assignment
of a portion ($200,000 of a $4,000,000 face value) of the $4,000,000 SURG Note. Glen in turn converted all its $1,250,000 considerations
received into 2,500,000 SURG shares. Per the final settlement agreement with Surge and per allocation of settlement funds agreement,
Glen credit balance for the end of 2021 was $662,500 which included $425,000 credit derived from said settlement (which was paid January
2022), where the open aged credit balance derived from the above, along with cash infusion with Glen as off the date of this report is
$412,500.
RWJ
Acquisition Note
In
connection with the acquisition of RWJ in September 2017, the Company issued a note. The note accrues interest at 3.5%, was due on December
31, 2019 and was secured by the assets purchased in the acquisition. The Company contests the validity of the note, as such the note
has not been repaid as of June 30, 2022  . (See Item 3 – Legal Proceedings). The balance of the note at June 30, 2022
is $2,600,000 plus accrued interest of $446,239.
Redstart
Holdings Corp.
On
September 21, 2021, the Company entered into a Securities Purchase Agreement with Redstart pursuant to which the Company issued to Redstart
a Convertible Promissory Note (the "Redstart Note No. 7") of $244,500 for a purchase price of $203,750. The Redstart Note
No. 7 has a maturity date of December 22, 2022 and the Company has agreed to pay interest on the unpaid principal balance of
the Redstart Note No. 7 at the rate of 2.5% from the date on which the Redstart Note No. 7 is issued (the "Issue Date") until
the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the
right to prepay the Redstart Note No. 7, provided it makes a payment including a prepayment to Redstart as set forth in the Redstart
Note No. 7. The transactions described above closed on September 28, 2021. The outstanding principal amount of the Redstart Note No.
7 may not be converted prior to the period beginning on the date that is 180 days following the Issue Date. Following the 180
th
day,
Redstart may convert the Redstart Note No. 7 into shares of the Company's common stock at a conversion price equal
to 85% of the lowest trading price with a 20-day look back immediately preceding the date of conversion. Since the conversion price will
vary based on the Company's stock price, the beneficial conversion feature associated with this note is accounted for as a derivative
liability. In addition, upon the occurrence and during the continuation of an Event of Default (as defined in the Redstart Note No. 7),
the Redstart Note No. 7 shall become immediately due and payable and the Company shall pay to Redstart, in full satisfaction of its obligations
hereunder, additional amounts as set forth in the Redstart Note No. 7. On or about March 28, 2022 Redstart converted $35,000 of this
note into 369,198 common shares of the Company. During the six months ended June 30, 2022, Redstart converted the entire note into 7,656,951
shares of the Company's common stock. As of June, 30, 2022, the note had an outstanding balance of $0 and accrued interest of $0.
46
Sixth
Street Lending LLC – named changed - 1800 Diagonal Lending LLC
First
Note
On
November 8, 2021, the Company entered into a Securities Purchase Agreement with Sixth Street Lending LLC ("Sixth Street")
pursuant to which the Company issued to Sixth Street a Convertible Promissory Note (the "Sixth Street Note") of $124,200
for a purchase price of $103,500. The Sixth Street Note has a maturity date of February 8, 2023 and the Company has agreed
to pay interest on the unpaid principal balance of the note at the rate of 6% from the date on which the note is issued (the "Issue
Date") until the same becomes due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company
shall have the right to prepay the note, provided it makes a payment including a prepayment to Sixth Street as set forth in the Sixth
Street Note. The outstanding principal amount of the note may not be converted prior to the period beginning on the date that is 180
days following the Issue Date. Following the 180
th
day, Sixth Street may convert the note into shares of the Company's common
stock at a conversion price equal to 85% of the average of the two lowest trading prices with a 20-day look back immediately
preceding the date of conversion. Since the conversion price will vary based on the Company's stock price, the beneficial conversion
feature associated with this note is accounted for as a derivative liability. In addition, upon the occurrence and during the continuation
of an Event of Default (as defined in the Sixth Street Note), the note shall become immediately due and payable and the Company shall
pay to Sixth Street, in full satisfaction of its obligations hereunder, additional amounts as set forth in the Sixth Street Note. During
the three months ended June 30, 2022, Sixth Street converted the entire note into 26,343,190 shares of the Company's common
stock. As of June, 30, 2022, the note had an outstanding balance of $0 and accrued interest of $0.
Second
Note
On
May 5, 2022, the Company entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, an accredited investor ("DL"),
pursuant to which the Company issued to DL a Convertible Promissory Note (the "DL Note") of $244,500 for a purchase price
of $203,500. The DL Note has a maturity date of August 4, 2023 and the Company has agreed to pay interest on the unpaid principal balance
of the DL Note at the rate of 6.0% from the date on which the DL Note is issued (the "Issue Date") until the same becomes
due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the
DL Note at any time from the Issue Date and continuing through 180 days following the Issue Date, provided it makes a payment including
a prepayment premium to DL as set forth in the DL Note. The transactions described above funded on May 9, 2022.
The
outstanding principal amount of the DL Note may not be converted prior to the period beginning on the date that is 180 days following
the Issue Date. Following the 180
th
day, DL may convert the DL Note into shares of
the Company's
common
stock
at a conversion price
equal to 85% of the lowest trading price during the 20-day period
immediately preceding the date of conversion. In addition, upon the occurrence and during the continuation of an Event of Default (as
defined in the DL Note), the DL Note shall become immediately due and payable and the Company shall pay to DL, in full satisfaction of
its obligations hereunder, additional amounts as set forth in the DL Note. In no event shall DL be allowed to effect a conversion if
such conversion, along with all other shares of Company common stock beneficially owned by DL and its affiliates would exceed 4.99% of
the outstanding shares of the common stock of the Company.
Unless
the Company shall have first delivered to DL, at least 48 hours prior to the closing of any equity (or debt with an equity component)
financing in an amount less than $150,000 ("Future Offering"), written notice describing the proposed Future Offering and
providing the Buyer an option during the 48 hour period following delivery of such notice to DL the securities being offered in the Future
Offering on the same terms as contemplated by such Future Offering then the Company is restricted from conducting the Future Offering
during the period beginning on the Issue Date and ending nine months following the Issue Date.
47
Stanley
Hills LLC Convertible Note Payable
The
Company entered into a series of loan agreements with Stanley Hills LLC ("Stanley") pursuant to which it received more than
$1,000,000 (the "Debt") since May 2019 up to December 2019. On February 26, 2020, in order to induce Stanley to continue
to provide funding, the Company and Stanley entered into a letter agreement providing that the current note payable balance due to Stanley
of $1,214,900 may be converted into shares of common stock of the Company at a conversion price equal to 85% multiplied by the lowest
one trading price for the common stock during the 20-trading day period ending on the latest complete trading day prior to the conversion
date. Since the conversion price will vary based on the Company's stock price, the beneficial conversion feature associated with
this note is accounted for as a derivative liability. Stanley has agreed to restrict its ability to convert the Debt and receive
shares of common stock such that the number of shares of common stock held by it and its affiliates after such conversion or
exercise does not exceed 4.99% of the then issued and outstanding shares of common stock. During the year ended December 31, 2021, Stanley
converted $1,231,466 of its convertible note plus interest into 4,420,758 shares of the Company's common stock,
and during the year ended December 31, 2021, Stanley loaned the Company an additional $325,000. Also, during the year ended December
31, 2021, the Company transferred the SURG shares received as repayment of $800,000 of this convertible note (See Note 4) and converted
$126,003 of accrued interest into the principal balance. During the year ended December 31, 2021, Gonzalez assigned all his accrued balances
of $424,731 to Stanley in a private transaction that the Company is not part to. The balance of the Stanley convertible note payable
at June 30, 2022 and December 31, 2020 was $116,605 and $116,605, respectively. The unpaid interest of the Stanley convertible note payable
at June 30, 2022 and December 31, 2020 was $14,154 and $8,372, respectively. The Stanley debt was secured via a pledge agreement on the
SURG shares.
Stanley
Hills LLC Accounts Payable
On
January 1, 2021, SURG, AltCorp and Stanley entered into a Mutual Release and Settlement Agreement ("Settlement Agreement")
after Stanley sued SURG. Pursuant to the terms of the Settlement Agreement, SURG agreed to amend the AltCorp Exchange Agreement where
SURG acknowledged a debt of $3,300,000 (the "Debt") to be paid in 33 monthly payments of $100,000 payable in shares of common
stock of SURG at a per share price equal the volume weighted average price of Surg's common stock during the 10 trading days immediately
preceding the issuance. The Company paid $650,000 in cash and the remaining by shares. The SURG common stock issued to Altcorp have been
pledged since August 12, 2020 for the benefit of Stanley to secure Stanley's note payable by the Company. Accordingly, the SURG
Common Stock issued to AltCorp as a result of the Settlement Agreement were pledged to Stanley. As of December 31, 2021 there were no
surge shares pledges after the final settlement signed on December 22, 2021 and replaced all prior settlement agreement. As of June 30,
2022, the Company recorded an outstanding payable balance to Stanley $317,174.
Off-Balance
Sheet Arrangements
The
Company does not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on the
Company's financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital
expenditures or capital resources that are material to investors.
Critical
Accounting Policies and Use of Estimates
Our
Management's Discussion and Analysis of Financial Condition and Results of Operations is based upon our financial statements, which
have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP").
The preparation of our financial statements in accordance with U.S. GAAP requires us to make certain estimates, judgments and assumptions
that affect the reported amount of assets and liabilities as of the date of the financial statements, the reported amounts and classification
of revenues and expenses during the periods presented, and the disclosure of contingent assets and liabilities. We evaluate our estimates
and assumptions on an ongoing basis and material changes in these estimates or assumptions could occur in the future. Changes in estimates
are recorded on the period in which they become known. We base our estimates on historical experience and various other assumptions that
we believe to be reasonable under the circumstances and at that time, the results of which form the basis for making judgments about
the carrying values of assets and liabilities that are not readily-apparent from other sources. Actual results may differ materially
from these estimates if past experience or other assumptions do not turn out to be substantially accurate.
48
We
believe that the accounting policies described below are critical to understanding our business, results of operations, and financial
condition because they involve significant judgments and estimates used in the preparation of our financial statements. An accounting
is deemed to be critical if it requires a judgment or accounting estimate to be made based on assumptions about matters that are highly
uncertain, and if different estimates that could have been used, or if changes in the accounting estimates that are reasonably likely
to occur periodically, could materially impact our financial statements. Other significant accounting policies, primarily those with
lower levels of uncertainty than those discussed below, are also critical to understanding our financial statements. The notes to our
financial statements contain additional information related to our accounting policies and should be read in conjunction with this discussion.
Presentation
of Financial Statements
The
accompanying financial statements have been prepared in accordance with U.S. GAAP.
Marketable
Securities
The
Company accounts for marketable securities in accordance with ASC Topic 321,
Investments – equity securities.
Marketable
equity securities are reported at fair value based on quotations available on securities exchanges with any unrealized gain or loss being
reported as a component of other income (expense) on the statement of operations. The portion of marketable equity security expected
to be sold within twelve months of the balance sheet date is reported as a current asset. These publicly traded equity securities are
valued using quoted prices and are included in Level 1.
Inventory
Inventory
consists of electronic product ready for sale on Amazon.com. It is stated at the lower of cost or net realizable value and all inventories
were returned product from online customers. We value our inventory using the weighted average costing method. Our Company's policy
is to include as a part of inventory any freight incurred to ship the product from our contract vendors to our warehouses. Outbound freights
costs related to shipping costs to our customers are considered period costs and reflected in selling, general and administrative expenses.
We regularly review inventory and consider forecasts of future demand, market conditions and product obsolescence.
49
Note
Receivable
On
September 18, 2020, the Company entered into a Purchase and Sale Agreement with Mr. LightHouse LTD
.
, an Israeli corporation ("MLH")
pursuant to which the Company agreed to sell and assign to MLH, effective July 1, 2020 all the shares, and certain specified liabilities,
of Ugopherservices Corp. ("UGO"), a wholly owned subsidiary of the Company, in consideration of $100,000 to be paid through
the delivery of a promissory note payable to the Company (the "Note"), upon the terms and subject to the limitations and
conditions set forth in the Note. There is no material relationship between the Company, on one hand, and MLH, on the other hand. At
December 31, 2020, the Company determined that this note receivable was not collectible and took an impairment charge of $100,000. During
July 2021, MLH effected a $50,000 payment on the Note. During April 2022, MLH effected a second payment for additional $50,000 on the
Note exhausting the Note balance.
Stock
Loan Receivable
On
January 8, 2019, the Company entered into a Stock Pledge Agreement with Latin American Exchange Latinex Casa de Cambio, S.A., a Costa
Rica corporation ("Latinex"), to provide that Latinex may maintain its required regulatory capital as required by various
regulators. The Company has pledged 4,005 restricted shares of its common stock valued at $7,610,147 (based on the closing
price on the grant date) for a term of three years in consideration of an annual payment of $375,000 paid in quarterly installments of
$93,750. In lieu of cash payment, Latinex may pay the Company in virtual currency of WISE Network S.A. valued at a 50% discount of its
offering price of $10 per token. In the event that Latinex's required capital has decreased below $5,000,000, Latinex is permitted
to sell the pledged shares of common stock only in an amount to ensure that Latinex can satisfy the required capital levels. The Company
must consent to such sale of the shares of common stock, which may not be unreasonably withheld. Upon expiration of the agreement, the
remaining shares of common stock shall be returned to the Company free and clear of all liens. The Company has recorded the value of
these shares of common stock as a stock loan receivable which is presented as a contra-equity account in the accompanying consolidated
balance sheets. At December 31, 2019, the Company wrote off the accrued interest income as Latinex did not perform any payment and the
Company has no mean to enforce this payment. Latinex agreed in principle to return the pledged 4,005 restricted shares to the Company
for cancellation. The 4,005 restricted shares have not yet been returned to the Company as of June 30, 2022.
Derivative
Financial Instruments
The
Company evaluates all of its agreements to determine if such instruments have derivatives or contain features that qualify as embedded
derivatives. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded
at its fair value and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations.
For stock-based derivative financial instruments, the Company uses a weighted-average Black-Scholes-Merton option pricing model to value
the derivative instruments at inception and on subsequent valuation dates. The classification of derivative instruments, including whether
such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative instrument
liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement of the derivative
instrument could be required within 12 months of the balance sheet date. As of June 30, 2022 and December 31, 2021, the Company's only derivative
financial instrument was an embedded conversion feature associated with convertible notes payable due to certain provisions that allow
for a change in the conversion price based on a percentage of the Company's stock price at the date of conversion.
Fair
Value of Financial Instruments
For
certain of the Company's financial instruments, including cash, accounts payable, accrued liabilities and short-term debt, the
carrying amounts approximate their fair values due to their short maturities.
FASB
ASC Topic 820,
Fair Value Measurements and Disclosures
, requires disclosure of the fair value of financial instruments held by
the Company. FASB ASC Topic 825,
Financial Instruments
, defines fair value, and establishes a three-level valuation hierarchy
for disclosures of fair value measurement that enhances disclosure requirements for fair value measures. The carrying amounts reported
in the consolidated balance sheets for receivables and current liabilities each qualify as financial instruments and are a reasonable
estimate of their fair values because of the short period of time between the origination of such instruments and their expected realization
and their current market rate of interest. The three levels of valuation hierarchy are defined as follows:
50
●
Level 1 inputs to the valuation methodology are quoted prices for identical assets or liabilities in active markets.
●
Level 2 inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, quoted prices for identical or similar assets in inactive markets, and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument.
●
Level 3 inputs to the valuation methodology us one or more unobservable inputs which are significant to the fair value measurement.
The
Company analyzes all financial instruments with features of both liabilities and equity under FASB ASC Topic 480,
Distinguishing Liabilities
from Equity
, and FASB ASC Topic 815,
Derivatives and Hedging
.
For
certain financial instruments, the carrying amounts reported in the balance sheets for cash and current liabilities, including convertible
notes payable, each qualify as a financial instrument, and are a reasonable estimate of their fair values because of the short period
of time between the origination of such instruments and their expected realization and their current market rate of interest.
The
Company uses Level 2 inputs for its valuation methodology for derivative liabilities as their fair values were determined by using the
Black-Scholes-Merton pricing model based on various assumptions. The Company's derivative liabilities are adjusted to reflect fair
value at each period end, with any increase or decrease in the fair value being recorded in results of operations as adjustments to fair
value of derivatives.
Treasury
Stock
Treasury
stock is recorded at cost. The re-issuance of treasury shares is accounted for on a first in, first-out basis and any difference between
the cost of treasury shares and the re-issuance proceeds are charged or credited to additional paid-in capital.
Reclassification
Certain
prior years amounts have been reclassified for consistency with the current period presentation. These reclassifications had no effect
on the reported results of operations.
Revenue
Recognition
Accounting
Standards Update ("ASU") No. 2014-09,
Revenue from Contracts with Customers
("
Topic 606
"),
became effective for the Company on January 1, 2018. The Company's revenue recognition disclosure reflects its updated accounting
policies that are affected by this new standard. The Company applied the "modified retrospective" transition method for open
contracts for the implementation of
Topic 606.
The Company had no significant post-delivery obligations, this new standard
did not
result in a material recognition of revenue on the Company's accompanying consolidated financial statements
for the cumulative impact of applying this new standard. The Company made no adjustments to its previously-reported total revenues, as
those periods continue to be presented in accordance with its historical accounting practices under
Topic 605, Revenue Recognition
.
Revenues
are recognized under
Topic 606
in a manner that reasonably reflects the delivery of its services to customers in return
for expected consideration and includes the following elements:
IT
Consulting services:
●
executed contracts with the Company's customers that it believes are legally enforceable;
●
identification of performance obligations in the respective contract;
●
determination of the transaction price for each performance obligation in the respective contract;
●
allocation the transaction price to each performance obligation; and
●
recognition of revenue only when the Company satisfies each performance obligation.
These
five elements, as applied to each of the Company's IT revenue category, is summarized below:
●
IT consulting services
    - revenue is recorded on a monthly basis as services are provided
These
five elements, as applied to each of the Company's license revenue category, is summarized below:
51
●
License services –
    the one-time revenue is recorded as other income upon agreement is executed and services are provided.
E-Commerce
sales
–
●
Identify the contract(s)
    with a customer. ASC 606 defines a contract as "an agreement between two or more parties that creates enforceable rights and
    obligations". Since this is an e-commerce sale on the Amazon website, the Company just followed the general terms on Amazon
    website and the customer entered into a contract with the Company based on the product listed on the Amazon website;
●
Identify the performance
    obligations in the contract. According to the contract, the Company is responsible for operation exclusively. The Company is entitled
    to all revenue which is being paid by Amazon into a designated bank account and the Company is responsible for all product acquisitions
    as well as shipments. The only performance obligations were the electronic products that were listed on Amazon website and the Company
    determined each order is one single obligation;
●
Determine the transaction
    price. The transaction price set to be the listed price on the Amazon website.;
●
Allocate the transaction
    price to the performance obligations in the contract.; and
●
Recognize revenue when
    the Company satisfies a performance obligation. Sales are being recognize upon shipment.
Unearned
revenue
Unearned
revenue represents the net amount received for the purchase of products that have not seen shipped to the Company's customers.
In 2018, the Company ran pre-sales efforts for its pet tracker product and received prepayments for its product. In addition, during
2018, the Company received $200,000 in connection with an intellectual property license and royalty agreement. On January 28, 2022 awarded
the Company with injunction against RWJ Defendants, where all fee funds generating from resale should be deposited into GBT blocked account,
and therefore RWJ Defendants cannot use these funds without court order - $15,326 been credited as unearned revenue until court final
decision. The Company has $249,159 and $249,384 of unearned revenue at June 30, 2022 and December 31, 2021, respectively.
Contract
liabilities
On
February 22, 2022, the Company entered into an Intellectual Property License and Royalty Agreement with
Touchpoint Group
Holdings, Inc. ("Touchpoint" or "TGHI") pursuant to which the Company granted TGHI a worldwide license for its
technologies for a term of five years in the domains of Internet of Things (IoT) and Artificial Intelligence enabled mobile technologies
pertaining to the Company's digital currency technology (the "Technology"). GBT will charge TGHI earned royalties based
on actual uses by TGHI of the Technology resulting from revenue attributable to the use, performance or other exploitation of the Technology,
to the extent applicable, after deducting any taxes that the Company may be required to collect, and deducting any international sales,
goods and services, value added taxes or similar taxes which the Company is required to pay, if any, excluding deductions for taxes on
the Company net income. TGHI agreed to issue the Company 10,000,000 shares of common stock of TGHI in the fair value of $50,000 as a
one-time fee in consideration of the Company entering this Intellectual Property License and Royalty Agreement, which was booked contract
liabilities and amortized over the five-year term. The Company have yet to earn any royalty income in relation to this agreement as of
June 30, 2022. The contract liabilities as of June 30, 2022 and December 31, 2021 was $46,444 and $0, respectively.
52
Variable
Interest Entity
On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement ("RSA") with Mahaser LTD.
("Mahaser") pursuant to which the Company acquired the opportunity to share in revenues generated by Mahaser with respect
to e-commerce sales through the online retail platform in the United States of America. Mahaser owns an e-commerce platform as a store
which is the legal, exclusive owner of Ravenholm Electronics. The Company will operate the e-commerce platform and will be entitled to
95% for all revenue generated by and received by Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides
that the Company will be entitled to appoint a manager to Mahaser. As consideration, the Company will pay Mahaser $100,000 no later
than March 1, 2022 and issue Mahaser 1,000,000 shares of the Company's restricted common stock. The Company shall have
no obligations to make any further payments to Mahaser. For any further extensions, the Company will have the option to extend the RSA
for annual payment of $200,000, which can be payable with the Company's shares of common stock payable based on 20 days VWAP prior
to issuance. On March 16, 2022 the parties entered into Amendment No. 1 to the to the RSA, where all consideration to be paid or
issued to Mahaser will be deferred until such time where the e-commerce platform generated in cumulative revenue of $1,000,000. On March
31, 2022, the parties entered into Amendment No. 2 to the RSA, where Mahaser agreed to pay the Company 100% per year for all revenue
generated by and received by seller from the sales by Amazon within the United States of America as follows for the period from March
1, 2022 through December 31, 2022. The Company will be responsible for 100% of the cost of goods sold as well. In addition, the Company
is entitled to earn 100% revenues and cost of goods sold of the test run period from February 1, 2022 to February 28, 2022.
The
Company evaluated whether it has a variable interest in Mahaser, whether Mahaser is a VIE and whether the Company has a controlling financial
interest in Mahaser. The Company concluded that it has variable interests in Mahaser on the basis of GBT has 100% control over the JV/revenue
sharing, and as such should consolidate the JV into its books and records as it assigned 100% financial responsibility. Mahaser's
equity at risk, as defined by GAAP, is considered to be insufficient to finance its activities without additional support, and, therefore,
Mahaser is considered a VIE.
In
order to determine whether the Company has a controlling financial interest in Mahaser and, thus, is Mahaser's primary beneficiary,
the Company considered whether it has i) the power to direct the activities of Mahaser that most significantly impact its economic performance
and ii) the obligation to absorb losses of Mahaser that could potentially be significant to it or the right to receive benefits from
Mahaser that could potentially be significant to it. The Company concluded that GBT has the sole power to direct the activities of a
VIE via the appointment of Manager to the VIE as sole manger and as it control the bank account, as it representative is signatory on
the account, as well as sole control over the e-commerce platform and its operations that most significantly impact the VIE's economic
performance.
In
addition, the Company's variable interests in Mahaser obligate the Company to absorb deficits and provide it with the right to
receive benefits that could potentially be significant to Mahaser. As a result of this analysis, the Company concluded that it is the
primary beneficiary of Mahaser and therefore consolidates the balance sheets, results of operations and cash flows of Mahaser. The Company
performs a qualitative assessment of Mahaser on an ongoing basis to determine if it continues to be the primary beneficiary.
The
following table summarizes the carrying amount of the assets and liabilities of Mahaser included in the Company's consolidated
balance sheets (after elimination of intercompany transactions and balances) as of June 30, 2022:
53
Assets of consolidated variable interest entity ("VIE") included in the consolidated balance sheets above (after elimination of intercompany transactions and balances) consist of:
2022
Current assets:
Cash and cash equivalents
$
8,899
Inventory
17,053
Total current assets
$
25,951
Liabilities of consolidated VIE included in the consolidated balance sheets above (after elimination of intercompany transactions and balances) consist of:
Current liabilities
Due to related party
$
10,238
Total current liabilities
$
10,238
Statements of operations of consolidated VIE included in the consolidated statements of operations above (after elimination of intercompany transactions and balances) consist of:
Statements of operations
Sales
$
569,951
Cost of goods sold
388,458
Gross profit
181,493
General and administrative expenses
145,305
Net Gain
$
36,188
Income
Taxes
The
Company accounts for income taxes in accordance with ASC Topic 740,
Income Taxes
. ASC 740 requires a company to use the asset
and liability method of accounting for income taxes, whereby deferred tax assets are recognized for deductible temporary differences,
and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the
reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the
opinion of management, it is more likely than not that some portion, or all of, the deferred tax assets will not be realized. Deferred
tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.
Under
ASC 740, a tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained
in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that
is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test,
no tax benefit is recorded. The Company has no material uncertain tax positions for any of the reporting periods presented.
Dividends
The
Company has not yet adopted any policy regarding payment of dividends. No cash dividends have been paid or declared since the Date of
Inception.
ITEM
3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK
As
a Smaller Reporting Company, the Company is not required to include the disclosure under this Item.
ITEM
4. CONTROLS AND PROCEDURES
Evaluation
of Disclosure Controls and Procedures
As
of the end of the period covered by this report, we carried out an evaluation, under the supervision and with the participation of our
management, including Mansour Khatib, who serves as our Chief Executive Officer and Principal Financial Officer, of the effectiveness
of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Securities
Exchange Act of 1934, as amended. Based upon that evaluation, our Chief Executive Officer and Principal Financial Officer has concluded
that our disclosure controls and procedures were not effective as of the end of the applicable period to ensure that the information
required to be disclosed by the Company in reports that it files or submits under the Exchange Act (i) is recorded, processed, summarized
and reported within the time periods specified in Securities and Exchange Commission rules and forms, and (ii) is accumulated and communicated
to our management, including our Chief Executive Officer, as appropriate to allow timely decisions regarding required disclosures.
54
As
a smaller reporting company, with revenues stemming from recent acquisitions and a lack of profitability, the Company does not have the
resources to install dedicated staff with deep expertise in all facets of SEC disclosure and GAAP compliance, and does not employ enough
accounting staff to have proper separation of duties. As is the case with many smaller reporting companies, the Company will continue
to consult with its external auditors and attorneys as it relates to new accounting principles and changes to SEC disclosure requirements.
In order to correct this material weakness, the Company engaged a consultant with expertise in SEC disclosure and GAAP compliance. The
Company has found that this approach worked well in the past and believes it to be the most cost-effective solution available for the
foreseeable future. The Company will conduct a review of existing sign-off and review procedures as well as document control protocols
for critical accounting spreadsheets. The Company will also increase management's review of key financial documents and records.
As
a smaller reporting company, the Company does not have the resources to fund sufficient staff to ensure a complete segregation of responsibilities
within the accounting function. However, Company management does review, and will increase the review of, financial statements on a monthly
basis, and the Company's external auditor conducts reviews on a quarterly basis. These actions, in addition to the improvements
identified above, will minimize any risk of a potential material misstatement occurring.
PART
II - OTHER INFORMATION
ITEM
1. LEGAL PROCEEDINGS
Legal
Proceedings
From
time to time, the Company may be involved in various litigation matters, which arise in the ordinary course of business. There is currently
no litigation that management believes will have a material impact on the financial position of the Company.
On
or around January 30, 2019, RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson sued the Company and multiple third and related
parties in Superior Court of the State of California - County of Los Angeles, General District in connection with the acquisition of
UGO in September 2017. The case number is 19STCV03320 (the "Original Lawsuit"). The complaint in the Original Lawsuit alleges
breach of contract, among other causes of action. The Company answered the complaint and filed a cross-complaint against the plaintiffs
in the case and third parties on or around February 15, 2019. On or about September 10, 2020, the Company through its agent of service
was "served" with a complaint (the Company contested service) that was recently filed against the Company and third parties
by Robert Warren Jackson and Gregory Bauer in Los Angeles Superior Court Case No.: 20STCV32709 ("Second Lawsuit"). In the
Original Lawsuit filed, the court rejected the plaintiff's claims that they were filing a purported quasi-derivative lawsuit. As
such, in this current litigation, the plaintiff is now again claiming the action is a derivative lawsuit. On October 13, 2020, the Second
Lawsuit was removed by other defendants into Central District of California (CASE NO. 2:20−cv−09399−RGK−AGR).
On February 2, 2021 the Central District of California dismissed the entire Second Lawsuit based on "demand futility". In
the Original lawsuit, the Company filed a cross complaint against the plaintiff and other third parties. Recently, the court has scheduled
various hearings and a trial date set for December 27, 2021 which was later continued by the Court to September 28, 2022. It was the
Company's intention to dividend its holdings of its wholly owned subsidiary Ugopherservices Corp. ("UGO"). As UGO is
the main dispute in the litigations described above, the Company has elected to sell UGO to a third-party effective July 1, 2020 (See
Note 3). On September 17, 2020, the Company terminated Greg Bauer as consultant (resulting from the sale of UGO), which he confirmed
in writing. On or about June 14, 2021 the Company stipulated with plaintiff that all third parties will be released and plaintiff may
file a new first amendment complaint that will name only the Company. As such, all third parties other than prior transfer agent of the
Company have been dismissed from this litigation.
55
Following
the sale of UGO, the Company noticed third parties (including SURG, via its asset manager) to wire the UGO funds to its new bank account.
SURG never answered the notice. SURG is the clearing house for UGO. The Company noticed certain third parties that it intends to take
legal actions to resolve this issue. On November 12, 2020 the Company filed a complaint in the United States District Court – District
of Nevada - Case 2:20-cv-02078 against RWJ, Mr. Bauer, Mr. Jackson and against W.L. Petrey Wholesale Company Inc for fraud, breach of
contract, Unjust Enrichment and other claims. On January 28, 2022 the court awarded the Company with injunction against RWJ defendants,
where all fee funds generating from resale should be deposited into GBT blocked account, and therefore RWJ Defendants cannot use these
funds without court order.
On
December 3, 2018, the Company entered into a Securities Purchase Agreement (the "SPA") with Discover Growth Fund, LLC (the
"Investor") pursuant to which the Company issued a Senior Secured Redeemable Convertible Debenture (the "Debenture")
of $8,340,000. In connection with the issuance of the Debenture and pursuant to the terms of the SPA, the Company issued a Common Stock
Purchase Warrant to acquire up to 225,000 shares of common stock for a term of three years (the "Warrant") on a
cash-only basis at an exercise price of $100 per share with respect to 50,000 Warrant Shares, $75 with respect to 75,000 Warrant Shares
and $50 with respect to 100,000 Warrant Shares. The holder may not exercise any portion of the Warrants to the extent that the holder
would own more than 4.99% of the Company's outstanding common stock immediately after exercise. The outstanding principal amount
may be converted at any time into shares of the Company's common stock at a conversion price equal to 95% of the
Market Price less $5 (the conversion price is lowered by 10% upon the occurrence of each Triggering Event – the current conversion
price is 75% of the Market Price less $5). The Market Price is the average of the 5 lowest individual daily volume weighted average prices
during the period the Debenture is outstanding. On May 28, 2019, the Investor delivered to the Company a "Notice of Default and
Notice of Sale of Collateral" (the "Notice"). On December 23, 2019, in arbitration between the Company and the Investor,
an Interim Award was entered in favor of the Investor. On January 31, 2020, the Company was informed that a final award was entered (the
"Final Award"). The Final Award affirms that certain sections of the Debenture constitute unenforceable liquidated damages
penalties and were stricken. Further, it was determined that the Investor was entitled to recovery of their attorney's fees. Consequently,
the arbitrator awarded Investor $4,034,444 plus interest of 7.25% accrued from May 15, 2019 and costs $55,613. On February
18, 2020, the Company filed a motion with the United States District Court District of Nevada (the "Nevada Court") to confirm
the Final Award and a motion to consolidate Investor's application to confirm the Final Award filed in the U.S. District Court
of the Virgin Islands (Case No: 3 :20-cv-00012-CVG-RM) (the "Virgin Island Court"). On February 27, 2020, the Nevada Court
denied the Company's motion to confirm the Final Award and motion to consolidate and further decided that the confirmation of the
Final Award should be litigated in the Virgin Island Court. As such, on February 27, 2020, the Company filed a Notice of Entry of Order
as well as a Motion to Confirm the Arbitration Award, address the outstanding issues regarding whether Investor's rights are subordinated
to other creditors and, thereafter, oversee a commercially reasonable foreclosure sale (Case No: 3 :20-cv-00012-CVG-RM). It was the Company's
position that the Final Award must first be confirmed and all questions regarding the rights of Investor relative to those of other creditors
must be determined before any foreclosure sale can proceed. It is further the position of the Company that the previously disclosed foreclosure
sale scheduled by Investor is being conducted in a commercially unreasonable manner and that if Discover proceeded forward with the foreclosure
sale it did so at its own risk. Nevertheless, on February 28, 2020, Investor advised that it conducted a sale of the Company's
assets. As the date of this report Investor failed to present a deed of sale for the alleged sale that allegedly took place as noticed.
The Company filed with Virgin Island Court the motions disputing the validity of the alleged sale. On July 28, 2020, Investor filed in
the State of Nevada a motion for attorneys fees of $48,844 and cost of $716. The Company filed an answer on August
11, 2020. On October 16, 2020, Investor motion for attorneys fees of $48,844 and cost of $716 was denied. The balance was
included in accounts payable for the unearned settlement. As of June 30, 2022, this case is still pending with the Federal court and the
Court has not taken any substantive action in the matter as of the date of this report.
56
GBT
Technologies, S.A.
On
September 14, 2018, the Company entered into an Exclusive Intellectual Property License and Royalty Agreement (the "GBT License
Agreement") with GBT-CR, a fully compliant and regulated crypto currency exchange platform that currently operates in Costa Rica
as a decentralized crypto currency platform, pursuant to which, among other things, the Company granted to GBT-CR an exclusive, royalty-bearing
right and license relating intellectual property relating to systems and methods of converting electronic transmissions into digital
currency as reflected in that certain patent filed with the United Stated Patent and Trademark Office on or about June 14, 2018 (EFS
ID: 32893586; Application Number: 16008069; Type: Utility under 35 USC 111(a); Confirmation Number: 6787)(collectively, the "Digital
Currently Technology"). Pursuant to the GBT License Agreement, the Company granted GBT-CR an exclusive worldwide license to use
the Digital Currency Technology to make, use, sell, lease or otherwise commercialize and dispose of products and devices utilizing the
Digital Currently Technology. Under the terms of the GBT License Agreement, the Company is entitled to receive a royalty of 2% of gross
revenue of each licensed product sold by GBT-CR during the period starting in which revenue is first generated using the licensed products
and continuing for five years thereafter. Upon signing the GBT-CR License Agreement, GBT-CR paid the Company $300,000 which is nonrefundable.
The Company has recognized the $300,000 as revenue during the years ended December 31, 2018. Upon GBT-CR making available for sale
(the "Commercial Event") an ICO (Initial Coin Offering) (the "Coin"), GBT-CR will make a payment to the Company
of $5,000,000. Further, upon the Commercial Event, GBT-CR will grant the Company the ability to acquire 30% of the Coin at a 30% discount
of such offering price of the Coin. The GBT License Agreement commenced as of the signing date and, unless terminated in accordance with
the termination provisions of the GBT License Agreement, shall remain in force until the expiration of the patent pertaining to the Digital
Currency Technology; provided that the right to use trade, secrets shall survive the expiration of the GBT License Agreement provided
the Company has not terminated. Prior to the signing of the GBT License Agreement, GBT-CR advanced $200,000 to the Company, which
the parties agreed will be applied toward the $5,000,000 fee when it becomes due. The $200,000 is recorded as unearned revenue at
December 31, 2018 and reclassified to accrued expense as of June 30, 2022 and December 31, 2021. On February 27, 2020 GBT Technologies, S.A., as successor
in interest to Hermes Roll, LLC had notified the Company that it was in default on its Amended and Restated Territorial License Agreement
("ARTLA") dated June 15, 2015 and that the ARTLA had been cancelled and rescinded.
In
connection with SURG Exchange Agreement - On November 4, 2020, Altcorp and Stanley filed an Ex Parte Motion in the District Court, Clark
County, Nevada (Case No: A-20-823039-B, in Dep No: 43) to appoint receiver and issue a temporary restraining Order against SURG and its
transfer agent for alleged defaults on prior exchange agreement. On December 4, 2020, the parties entered an interim agreement which
set the material terms of the settlement. A final settlement was achieved per the interim agreement terms on January 1, 2021. On March
4, 2021 the Company filed a motion to enforce settlement agreements, as the Company alleged that SURG owes an additional $240,000 which
is due and owing under the settlement agreements.
On
June 24, 2021 per the June 23, 2020 Agreement, the Company together with AltCorp sent SURG and its transfer agent via registered mail,
a true-up shares demand for an additional 14,870,370 SURG shares as calculated per the Agreement. As of the filing date of this report,
SURG's transfer agent did not answer the Company's request.
Subsequently,
SURG was a party to two lawsuits in state District Court, the Eighth Judicial District Court for Clark County, Nevada involving AltCorp,
Stanley and Glen Eagles Acquisition LP (the "AltCorp Parties."). Each of these lawsuits were ultimately disputes relating
to the total consideration SURG was to pay the Company under the APA.
On
October 18, 2021, the AltCorp Parties, the Company, and SURG entered into a Memorandum of Understanding (the "MOU") to set
up a framework for an attempt to settle the two lawsuits.
On
December 22, 2021 (the "Effective Date"), pursuant to the framework in the MOU, the AltCorp Parties (and an additional third
party), the Company, ECS, and SURG, Kevin Brian Cox (SURG's Chief Executive Officer) - in his individual capacity, entered into
a Resolution of Purchase, Mutual Release, and Settlement Agreement (the "Final Settlement Agreement") to settle the two lawsuits
and resolve all disputes related to the consideration paid by SURG to the Company in connection with the APA.
On
or about July 9, 2021 the Company filed a lawsuit in District Court in Clack County Nevada – Department 19 (Case number A-21-837631-C)
against Terry Taylor and TTSG Holdings, Inc for breach of contract, breach of covenant of Good Faith and Fair Dealing, Unjust Enrichment
and declaratory relief for failure of providing consulting services per contract they entered. The Company is demanding the return of
12,000,000 shares issued, return of the $5,000 payments, recission of the consulting agreement, and attorney's fees and costs.
The lawsuit is still pending as of the date of this report. As Terry Taylor and TTSG Holdings, Inc failed to appear to a Notice of Deposition,
the Company filed for a summery judgment.
57
Gregory
Mancuso and Rainer AG
On
or about February 2, 2022, GBT was served with a First Amended Complaint (the "Complaint") initiated by Gregory Mancuso and
Rainer AG, a Swiss corporation, Case No. 21SMCV01430, filed in the Superior Court of the State of California for the County of Los Angeles.
The Complaint names a number of different parties, including GBT, and asserts, among other things, claims for conversion, unjust enrichment,
breach of contract, and breach of implied covenant of fair dealing, which Plaintiffs allege arise out of a brokerage agreement entered
into between Plaintiff Rainer AG and co-defendant Consul Group re Dos Mil Veintiuno S.R.L ("Consul"). GBT was sued under
an alter ego theory of liability, and its only involvement in the above-referenced chain of events seems to be that its shares were deposited
with Rainer by Consul upon the opening of the brokerage account. GBT will be filling a demurrer to the First Amended Complaint based
on a variety of deficiencies with the First Amended Complaint, and will ask the Court to dismiss the claims against GBT.
ITEM
1A. RISK FACTORS.
As
a smaller reporting company, we are not required to provide the information required by this item.
ITEM
2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.
During
the three months ended March 31, 2022, the Company had the following transactions in its common stock:
●
issued an aggregate of
    369,198 for the conversion of convertible notes of $35,000; and
●
issued 463,303 shares
    to GHS from Equity Financing Agreement for gross consideration of $68,308, The value of the shares of was determined based on the
    Equity Financing.
During
the three months ended June 30, 2022 the Company had the following transactions in its common stock:
●
issued an aggregate of 288,672,073 for the conversion of convertible notes of $1,660,370 and accrued interest of $6,491; and
●
issued 150,000,000 shares to GBT Tokenize for certain joint venture agreement between Magic International Argentina FC, S.L. and the Company (See note 16). The value of the shares of $1,500 was determined based on the FV of the Company.; and
●
issued 500,000,000 shares to Metaverse for certain equity method investment (see note 16). The value of the shares of $5,000  was determined by management; and
●
issued 5,036,697 shares to GHS from Equity Financing Agreement for gross consideration of $163,559, The value of the shares of was determined based on the Equity Financing.
The
Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation ("Greenwich"), entered
into a Master Joint Venture and Territorial License Agreement (the "Tokenize Agreement") with Magic International Argentina
FC, S.L. ("Magic") and Tokenize which replaced a prior joint venture entered between the parties. The Tokenize Agreement
provides that the Company shall contribute 150,000,000 shares of common stock of the Company to Tokenize.
On
May 5, 2022, the Company entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, an accredited investor ("DL")
pursuant to which the Company issued to DL a Convertible Promissory Note (the "DL Note") of $244,500 for a purchase price
of $203,500. The DL Note has a maturity date of August 4, 2023 and the Company has agreed to pay interest on the unpaid principal balance
of the DL Note at the rate of 6.0% from the date on which the DL Note is issued (the "Issue Date") until the same becomes
due and payable, whether at maturity or upon acceleration or by prepayment or otherwise. The Company shall have the right to prepay the
DL Note, provided it makes a payment including a prepayment to DL as set forth in the DL Note. The transactions described above funded
on May 9, 2022.
58
The
outstanding principal amount of the DL Note may not be converted prior to the period beginning on the date that is 180 days following
the Issue Date. Following the 180th day, DL may convert the DL Note into shares of the Company's common stock at
85% of the lowest trading price with a 20-day look back immediately preceding the date of conversion. In addition, upon the occurrence
and during the continuation of an Event of Default (as defined in the DL Note), the DL Note shall become immediately due and payable
and the Company shall pay to DL, in full satisfaction of its obligations hereunder, additional amounts as set forth in the DL Note. In
no event shall DL be allowed to effect a conversion if such conversion, along with all other shares of Company common stock beneficially
owned by DL and its affiliates would exceed 4.99% of the outstanding shares of the common stock of the Company.
Unless
the Company shall have first delivered to DL, at least 48 hours prior to the closing of any equity (or debt with an equity component)
financing in an amount less than $150,000 ("Future Offering"), written notice describing the proposed Future Offering and
providing the Buyer an option during the 48 hour period following delivery of such notice to DL the securities being offered in the Future
Offering on the same terms as contemplated by such Future Offering then the Company is restricted from conducting the Future Offering
during the period beginning on the Issue Date and ending nine months following the Issue Date.
Subsequent
to June 30, 2022, multiple note holders elected to convert $198,900 principal amount into 150,000,000 shares of the Company's
common stock.
The
offer, sale and issuance of the above securities was made to accredited investors and the Company relied upon the exemptions contained
in Section 4(a)(2) of the Securities Act of 1933, as amended, and/or Rule 506 of Regulation D promulgated thereunder with regard to the
sale. No advertising or general solicitation was employed in offering the securities. The offer and sales were made to accredited investors
and transfer of the common stock will be restricted by the Company in accordance with the requirements of the Securities Act of 1933,
as amended.
ITEM
3. DEFAULTS UPON SENIOR SECURITIES
On
or around January 30, 2019, RWJ Advanced Marketing, LLC, Greg Bauer, and Warren Jackson sued the Company and multiple third and related
parties in Superior Court of the State of California - County of Los Angeles, General District in connection with the acquisition of
UGO in September 2017. The case number is 19STCV03320 (the "Original Lawsuit"). The complaint in the Original Lawsuit alleges
breach of contract, among other causes of action. The Company answered the complaint and filed a cross-complaint against the plaintiffs
in the case and third parties on or around February 15, 2019. On or about September 10, 2020, the Company through its agent of service
was "served" with a complaint (the Company contested service) that was recently filed against the Company and third parties
by Robert Warren Jackson and Gregory Bauer in Los Angeles Superior Court Case No.: 20STCV32709 ("Second Lawsuit"). In the
Original Lawsuit filed, the court rejected the plaintiff's claims that they were filing a purported quasi-derivative lawsuit. As
such, in this current litigation, the plaintiff is now again claiming the action is a derivative lawsuit. On October 13, 2020, the Second
Lawsuit was removed by other defendants into Central District of California (CASE NO. 2:20−cv−09399−RGK−AGR).
On February 2, 2021 the Central District of California dismissed the entire Second Lawsuit based on "demand futility". In
the Original lawsuit, the Company filed a cross complaint against the plaintiff and other third parties. Recently, the court has scheduled
various hearings and a trial date set for December 27, 2021 which was later continued by the Court to September 28, 2022. It was the
Company's intention to dividend its holdings of its wholly owned subsidiary Ugopherservices Corp. ("UGO"). As UGO is
the main dispute in the litigations described above, the Company has elected to sell UGO to a third-party effective July 1, 2020 (See
Note 3). On September 17, 2020, the Company terminated Greg Bauer as consultant (resulting from the sale of UGO), which he confirmed
in writing. On or about June 14, 2021 the Company stipulated with plaintiff that all third parties will be released and plaintiff may
file a new first amendment complaint that will name only the Company. As such, all third parties other than prior transfer agent of the
Company have been dismissed from this litigation. We are in default on this note.
59
Following
the sale of UGO, the Company noticed third parties (including SURG, via its asset manager) to wire the UGO funds to its new bank account.
SURG never answered the notice. SURG is the clearing house for UGO. The Company noticed certain third parties that it intends to take
legal actions to resolve this issue. On November 12, 2020 the Company filed a complaint in the United States District Court – District
of Nevada - Case 2:20-cv-02078 against RWJ, Mr. Bauer, Mr. Jackson and against W.L. Petrey Wholesale Company Inc for fraud, breach of
contract, Unjust Enrichment and other claims. On January 28, 2022 the court awarded the Company with injunction against RWJ defendants,
where all fee funds generating from resale should be deposited into GBT blocked account, and therefore RWJ defendants cannot use these
funds without court order, neither the Company.
ITEM
4. MINE SAFETY DISCLOSURES
Not
Applicable.
60
ITEM
5. OTHER INFORMATION
On
January 28, 2022, the Company entered into a Stock Purchase Agreement with Marko Radisic (the "Seller") and
Touchpoint Group Holdings, Inc. ("TGHI") pursuant to which the Company acquired 10,000 shares of Series A Convertible Preferred
Stock (the "Touchpoint Preferred") from the Seller $125,000. The Touchpoint Preferred is convertible into 10,000,000 shares
of common stock of Touchpoint. On February 22, 2022, the Company entered into an Intellectual Property License and Royalty Agreement
with
Touchpoint Group Holdings, Inc. ("Touchpoint" or "TGHI") pursuant to which the Company granted
TGHI a worldwide license for its technologies for a term of five years in the domains of Internet of Things (IoT) and Artificial Intelligence
enabled mobile technologies pertaining to the Company's digital currency technology (the "Technology"). GBT will charge
TGHI earned royalties based on actual uses by TGHI of the Technology resulting from revenue attributable to the use, performance or other
exploitation of the Technology, to the extent applicable, after deducting any taxes that the Company may be required to collect, and
deducting any international sales, goods and services, value added taxes or similar taxes which the Company is required to pay, if any,
excluding deductions for taxes on the Company net income. TGHI agreed to issue the Company 10,000,000 shares of common stock of TGHI
in the fair value of $50,000 as a one-time fee in consideration of the Company entering this Intellectual Property License and Royalty
Agreement, which was booked as other related party income. The Company have yet to earn any royalty income in relation to this agreement
as of June 30, 2022.
TGHI
converted the Touchpoint Preferred into 10,000,000 shares of common stock of Touchpoint on February 23,2022 resulting in the Company
owning 20,000,000 shares of common stock of Touchpoint at this time.
Magic
Agreement
The
Company, through its wholly owned subsidiary, Greenwich International Holdings, a Costa Rica corporation ("Greenwich"), entered
into a Master Joint Venture and Territorial License Agreement (the "Tokenize Agreement") with Magic Internacional Argentina
FC, S.L. ("Magic") and Tokenize which replaced a prior joint venture entered between the parties.
The
purpose of Tokenize is to develop, maintain and support source codes for its proprietary technologies including advanced mobile chip
technologies, tracking, radio technologies, AI core engine, electronic design automation, mesh, games, data storage, networking, IT services,
business process outsourcing development services, customer service, technical support and quality assurance for business, customizable
and dedicated inbound and outbound calls solutions, as well as digital communications processing for enterprises and startups ("Technology
Portfolio"), throughout the world, which Technology Portfolio was previously licensed to the Company for the State of California.
The
Tokenize Agreement provides that the Company shall contribute 150,000,000 shares of common stock of the Company ("GBT Shares")
to Tokenize. Sergio Fridman is the manager of Magic and the beneficial owner of all outstanding securities of Magic. Magic will contribute
cash of $250,000 into Tokenize for a promissory note and agreed to further fund Tokenize with all funds reasonably needed for implementation
of the business purposes as described in the Tokenize Agreement. The GBT Shares will not be transferable for a period of five years.
Magic
and the Company each own 50% of the outstanding shares of common stock of Tokenize. The Company pledged its 50% ownership in Tokenize
and its 100% ownership of Greenwich (the "Pledged Securities") to Magic for providing that Magic may take possession of such
Pledged Securities in the event the Company executes, delivers and performs any future agreement or document or judgement resulting in
the creation of any lien, pledge, mortgage, claim, charge or encumbrance upon any assets of the Company. The Company shall appoint two
directors and Magic shall appoint one director of Tokenize.
Metaverse
Agreement
On
June 10, 2022, the Company, entered into a Joint Venture and Territorial License Agreement (the "Metaverse Agreement") with
Ildar Gainulin and Maria Belova ("IGMB"). Under the Metaverse Agreement, the parties formed Metaverse Kit Corp., a Nevada
corporation ("Metaverse Kit"). The purpose of Metaverse Kit is to develop, maintain and support source codes for its proprietary
technologies and comprehensive platform that combines a core virtual reality platform and an extended set of real-world functions to
provide a metaverse experience initially within the area of sports and then expanding into virtual worlds of entertainment, live events,
gaming, communications and other cross over product opportunities (the "Meta Portfolio"). Under the Metaverse Agreement,
IGMB agreed to provide Metaverse Kit with the licensed technology and expertise, as requested and mutually agreed to by Company and IGMB.
In connection therewith, the parties entered an Asset Purchase Agreement concurrently with the Metaverse Agreement whereby IGMB sold
Metaverse Kit all source codes pertaining to the Meta Portfolio. Further, IGMB provided an exclusive license to Metaverse Kit throughout
the world for the invented product/service and the related platforms relating to the Meta Portfolio and to use the know how to develop,
manufacture, sell, market and distribute the Meta Portfolio throughout the world The Company shall contribute 500,000,000 shares of common
stock of the Company ("GBT Shares") to Metaverse Kit. IGBM and the Company will each own 50% of Metaverse Kit. The Company
pledged its 50% ownership in Metaverse Kit to Igor 1 Corp. to secure a convertible note held by Igor 1 Corp. The Company shall appoint
two directors and IGBM shall appoint one director of Metaverse Kit.
61
In
addition, Metaverse Kit, IGMB and Elentina Group, LLC ("Elentina") entered into a Consulting Agreements in which IGBM and
Elentina, each were engaged to provide services for $25,000 per month payable quarterly which may be paid in shares of common stock calculated
by the amount owed divided by the Company's 10-day VWAP. IGBM and Elentina will provide services in connection with the development
of the business as well as Metaverse Kit's capital raising efforts. The term of the Consulting Agreement is two years.
The
closing of the Metaverse Agreement occurred on June 13, 2022 and the Company recorded par value of $5,000 as on the closing date.
On
June 16, 2022
the parties amended the Meta Agreement
to further define the constitution of the Board of Directors. As such, Section 4.2 of the Meta Agreement was amended and restated to
provide that the Board of Metaverse Kit Corp. shall consist of two Directors, one of whom shall be appointed by Ildar Gainulin and Maria
Belova and the other shall be appointed by the Company.
Revenue
Sharing Agreement
On
February 18, 2022, the Company, effective March 1, 2022 entered into a Revenue Sharing Agreement ("RSA") with Mahaser LTD.
("Mahaser") pursuant to which the Company acquired the opportunity to share in revenues generated by Mahaser with respect
to e-commerce sales through the online retail platform in the United States of America. Mahaser owns an e-commerce platform as a store
which is the legal, exclusive owner of Ravenholm Electronics. The Company will operate the e-commerce platform and will be entitled to
95% for all revenue generated by and received by Mahaser for the period from March 1, 2022 through December 31, 2022. The RSA provides
that the Company will be entitled to appoint a manager to Mahaser. As consideration, the Company will pay Mahaser $100,000 no later
than March 1, 2022 and issue Mahaser 1,000,000 shares of the Company's restricted common stock. The Company shall have
no obligations to make any further payments to Mahaser. For any further extensions, the Company will have the option to extend the RSA
for annual payment of $200,000, which can be payable with the Company's shares of common stock payable based on 20 days VWAP prior
to issuance. On March 16, 2022 the parties entered into Amendment No. 1 to the to the RSA, where all consideration to be paid or
issued to Mahaser will be deferred until such time where the e-commerce platform generated in cumulative revenue of $1,000,000. On March
31, 2022, the parties entered into Amendment No. 2 to the RSA, where Mahaser agreed to pay the Company 100% per year for all revenue
generated by and received by seller from the sales by Amazon within the United States of America as follows for the period from March
1, 2022 through December 31, 2022. The Company will be responsible for 100% of the cost of goods sold as well. In addition, the Company
is entitled to earn 100% revenues and cost of goods sold of the test run period from February 1, 2022 to February 28, 2022.
Assignment
of lease agreement
On
May 17, 2022, Mahaser LLC ("Assignee") entered into an assignment and assumption of lease agreement by and between 2819 Coldwater
LLC ("Assignor"), Sunset Place Holdings LLC ("Lessor") and Yossi Attia ("Guarantor"). Pursuant to
the agreement, Lessor agreed to lease to Assignor certain Standard Industrial/Commercial Multi-Tenant Lease – Gross agreement dated
February 7, 2022 (the "Lease") and expiring on January 31, 2024, which premises commonly known as 8265 Sunset Boulevard,
Suite #107, West Hollywood, CA 90046. The base rent payment shall equal $4,100 per month and share of common area operating expense shall
equal $200 per month. Guarantor has guaranteed payment of Assignor's obligations under the Lease and Assignor assigned all of its
right, title and interest in the Lease to Assignee and Assignee assumed Assignor's obligations under the Lease.
62
ITEM
6. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE.
Previous
independent registered public accounting firm
On
May 27, 2022 (the "Termination Date"), the Company terminated BF Rogers CPA PC (the "Former Auditor") as the
independent registered public accounting firm of the Company. Other than an explanatory paragraph included in the Former Auditor's
audit report for the Registrant's fiscal years ended December 31, 2021 and 2020 relating to the uncertainty of the Company's
ability to continue as a going concern, the audit reports of the Former Auditor on the Company's financial statements for the fiscal
years ended December 31, 2021 and 2020 did not contain an adverse opinion or disclaimer of opinion, and such reports were not qualified
or modified as to uncertainty, audit scope, or accounting principle. During the years ended December 31, 2021 and 2020 and through the
date of this Current Report on Form 8-K, the Company has not had any disagreements with the Former Auditor on any matter of accounting
principles or practices, financial statement disclosure or auditing scope or procedure, which disagreements, if not resolved to the Former
Auditor's satisfaction, would have caused them to make reference thereto in their reports on the Company's financial statements
for such years.
During
the years ended December 31, 2021 and 2020 and through the date of the Termination Date, there were no reportable events, as defined
in Item 304(a)(1)(v) of Regulation S-K.
The
Company requested our Former Auditor furnish us with a letter addressed to the Securities and Exchange Commission stating whether it
agrees with the above statements, which they did.
New
independent registered public accounting firm
On
May 27, 2022 (the "Engagement Date"), the Company engaged M.S. Madhava Rao ("New Auditor") as its independent
registered public accounting firm for the Company's fiscal year ended December 31, 2022. The decision to engage the New Auditor
as the Company's independent registered public accounting firm was approved by the Company's Board of Directors. During the
two most recent fiscal years and through the Engagement Date, the Company has not consulted with the New Auditor regarding either:
1.
application of accounting principles to any specified transaction, either completed or proposed, or the type of audit opinion that might
be rendered on the Company's financial statements, and neither a written report was provided to the Company nor oral advice was
provided that the New Auditor concluded was an important factor considered by the Company in reaching a decision as to the accounting,
auditing or financial reporting issue; or
2.
any matter that was either the subject of a disagreement (as defined in Regulation S-K, Item 304(a)(1) (iv) and the related instructions)
or reportable event (as defined in Regulation S-K, Item 304(a)(1)(v)).
63
ITEM
7. EXHIBITS, FINANCIAL STATEMENT SCHEDULES
Exhibit
No.
Description
No.
Description
3.1
Certificate of Incorporation of Forex International Trading Corp. (1)
3.2
Bylaws of Forex International Trading Corp. (1)
3.3
Certificate of Designation for Series A Preferred Stock (2)
3.4
Certificate of Designation for Series B Preferred Stock (3)
3.5
Certificate of Designation – Series C Preferred Stock (4)
3.6
Amendment to the Certificate of Designation for the Series B Preferred Stock (5)
3.7
Amendment to the Certificate of Designation for the Series C Preferred Stock(5)
3.8
Certificate of Change filed pursuant to NRS 78.209 (6)
3.9
Articles of Merger filed pursuant to NRS 92.A.200 (6)
3.10
Certificate of Amendment to the Articles of Incorporation of Gopher Protocol Inc. (8)
3.11
Certificate of Change dated July 10, 2019 (23)
3.12
Articles of Merger by and between Gopher Protocol Inc. and GBT Technologies Inc. dated July 10, 2019(23)
3.13
Certificate of Correction to the Certificate of Change (24)
3.14
Certificate of Correction to the Articles of Merger by and between Gopher Protocol Inc. and GBT Technologies Inc. dated July 10, 2019 (24)
3.15
Certificate of Amendment to the Articles of Incorporation of GBT Technologies Inc. dated September 23, 2019(26)
3.16
Certificate of Designation for Series B Preferred Stock (7)
3.17
Certificate of Designation of the Preferences, Rights and Limitations of the Series G Convertible Preferred Stock (15)
3.18
Series H Convertible Preferred Stock Certificate of Designation (21)
4.1
Form of Warrant issued to Robert Warren Jackson, Gregory Bauer, Michael Murray and Guardian Patch, LLC dated September 1, 2017 (14)
4.2
Balloon Note payable by Gopher Protocol Inc. to RWJ Advanced Marketing, LLC dated September 1, 2017 (14)
4.3
Form of Warrant issued to Derron Winfrey, Dennis Winfrey, Mark Garner and JIL Venture dated March 1, 2018 (16)
4.4
Note payable by Gopher Protocol Inc. to ECS, LLC dated March 1, 2018 (16)
4.5
Stock Option issued to Kevin Pickard dated April 16, 2018 (17)
4.6
Stock Option issued to Muhammad Khilji dated April 25, 2018 (18)
4.7
6% Convertible Note payable to Pablo Gonzalez dated June 17, 2019 (21)
4.8
Convertible Note payable to Glen Eagles Acquisition LP (22)
4.9
Amendment to Common Stock Purchase Warrant between Gopher Protocol Inc. and Glen Eagles Acquisition LP (22)
4.10
Second Amendment to Promissory Note between GBT Technologies Inc. and Ilaid Research and Trading LP dated July 20, 2020 (29)
4.11
Convertible Promissory Note August 4, 2020 issued to Redstart Holdings Corp. (30)
4.12
Fourth Amendment to Promissory Note between GBT Technologies Inc. and Iliad Research and Trading, L.P. dated May 14, 2020 – Executed May 19, 2021(31)
4.13
Convertible Promissory Note May 26, 2021 issued to Redstart Holdings Corp. – Executed on May 27, 2021 (32)
64
4.14
Fifth Amendment to Promissory Note between GBT Technologies Inc. and Iliad Research and Trading LP dated August 19, 2021 executed August 20, 2021 (33)
4.15
Convertible Promissory Note September 21, 2021 issued to Redstart Holdings Corp. – Executed on September 24, 2021, and Funded on September 28, 2021 (34)
4.16
Amended Loan Authorization and Agreement between GBT Technologies Inc. and U.S. Small Business Administration dated October 1, 2021 (35)
4.17
Convertible Promissory Note dated November 8, 2021 issued to Sixth Street Lending LLC (36)
4.18
Description of Securities (40)
4.19
Convertible Promissory Note dated May 4, 2022 issued to 1800 Diagonal Lending LLC (42)
10.1
Territorial License Agreement dated March 4, 2015, by and between Gopher Protocol Inc. and Hermes Roll LLC (7)
10.2
Amended and Restated Territorial License Agreement dated June 16, 2015 by and between Gopher Protocol Inc. and Hermes Roll LLC (9)
10.3
Letter Agreement dated August 20, 2015 by and between Gopher Protocol Inc. and Dr. Danny Rittman (10)
10.4
Letter Agreement dated March 14, 2016 by and between Gopher Protocol Inc. and Dr. Danny Rittman. (11)
10.5
Amended and Restated Employment Agreement by and between Gopher Protocol Inc. and Dr. Danny Rittman dated April 19, 2016 (12)
10.6
Letter Agreement between the Company and Danny Rittman dated June 29, 2017 (13)
10.7
Asset Purchase Agreement between Gopher Protocol Inc. and RWJ Advanced Marketing, LLC dated September 1, 2017 (14)
10.8
Addendum to Asset Purchase Agreement between Gopher Protocol Inc. and RWJ Advanced Marketing, LLC dated September 1, 2017 (14)
10.9
Employment Agreement between Gopher Protocol Inc. and Gregory Bauer dated September 1, 2017 (14)
10.10
Asset Purchase Agreement between Gopher Protocol Inc. and ECS Prepaid LLC dated March 1, 2018 (16)
10.11
Employment Agreement between Gopher Protocol Inc. and Derron Winfrey dated March 1, 2018(16)
10.12
Employment Agreement between Gopher Protocol Inc. and Mark Garner dated March 1, 2018(16)
10.13
Agreement between Gopher Protocol Inc. and Mobiquity Technologies, Inc. dated September 4, 2018 (19)
10.14
Exclusive Intellectual Property License and Royalty Agreement between Gopher Protocol Inc. and GBT Technologies, S.A. dated September 14, 2018 (20)
10.15
Letter Agreement between Gopher Protocol Inc. and Dr. Danny Rittman dated September 14, 2018 (20)
10.16
Exchange Agreement entered into between Gopher Protocol Inc., Altcorp Trading LLC, GBT Technologies, S.A., a Costa Rica company and Pablo Gonzalez dated June 17, 2019 (21)
10.17
Consulting Agreement entered into between Gopher Protocol Inc. and Glen Eagles Acquisition LP (22)
10.18
Letter Agreement between Mobiquity Technologies, Inc. and GBT Technologies Inc. executed August 2, 2019 Delivered August 6, 2019 (39)
10.19
Stock Purchase Agreement between Mobiquity Technologies, Inc. and GBT Technologies Inc. Dated September 10, 2019 (25)
10.20
Stock Purchase Agreement between Marital Trust GST Subject U/W/O Leopold Salkind and GBT Technologies Inc. dated September 10, 2019 (25)
10.21
Letter Agreement between GBT Technologies Inc. and Stanley Hills LLC dated February 26, 2020 (27)
10.22
Amendment to Promissory Note between GBT Technologies Inc. and Iliad Research and Trading, L.P. dated February 27, 2020 (27)
10.23
Order dated February 27, 2020 issued by the United States District Court District of Nevada (27)
10.24
Joint Venture and Territorial License Agreement by and between GBT Technologies Inc. and Tokenize-It S.A. dated March 6, 2020 (28)
10.25
Consulting Agreement by and between Pablo Gonzalez and GBT Tokenize Corp. dated March 6, 2020 (28)
10.26
Pledge Agreement by and between GBT Tokenize Corp. and Tokenize-It S.A., dated March 6, 2020 (28)
10.27
Securities Purchase Agreement dated August 4, 2020 between GBT Technologies Inc. and Redstart Holdings Corp. (30)
10.28
Securities Purchase Agreement dated November 8, 2021 between GBT Technologies Inc. and Sixth Street Lending LLC (36)
65
10.29
Equity Financing Agreement between GBT Technologies Inc. and GHS Investments LLC dated December 17, 2021 (37)
10.30
Registration Rights Agreement between GBT Technologies Inc. and GHS Investments LLC dated December 17, 2021 (37)
10.31
Resolution of Purchase, Mutual Release and Settlement Agreement by and among GBT Technologies Inc. and Parties Listed Therein December 22, 2021(38)
10.33
Form of Claim Purchase Agreement dated April 12, 2022 (41)
10.34
Finders Fee Agreement between JH Darbie & Co. and GBT Technologies Inc. dated October 14, 2021 (39)
10.35
Master Joint Venture and Territorial License Agreement by and between GBT Technologies Inc. and Magic International Argentina FC SL (41)
10.36
Pledge Agreement by and between GBT Tokenize Corp and Magic International Argentina FC SL (41)
10.37
Securities Purchase Agreement dated May 4, 2022 between GBT Technologies Inc. and 1800 Diagnol Lending LLC (42)
10.38
Joint Venture and Territorial License Agreement by and between GBT Technologies Inc. and Ildar Gainulin and Maria Belova.
(43)
10.39
Asset Purchase Agreement by and between Metaverse Kit Corp and Ildar Gainulin and Maria Belova (43)
10.40
Consulting Agreement by and between Metaverse Kit Corp and Ildar Gainulin and Maria Belova (43)
10.41
Consulting Agreement between Metaverse Kit Corp and Elentina Group, LLC(43)
10.42
Pledge Agreement by and between GBT Technologies Inc. and Igor 1 Corp. (43)
10.43
Amendment No. 1 to the Joint Venture and Territorial License Agreement by and between Ildar Gainulin and Maria Belova and GBT Technologies Inc. (44)
10.44
Amendment No. 1 to the Joint Venture and Territorial License Agreement by and between Magic Internacional Argentina FC, SL and GBT Technologies Inc. (44)
10.45
Amendment No. 1 to the Joint Venture Agreement by and between Bitspeed LLC and GBT Technologies Inc. (44)
31.1
Certification of Chief Executive Officer (Principal Executive and Financial Officer) pursuant to Rule 13a-14(a) or Rule 15d-14(a) as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002.
32.1
Certification of Chief Executive Officer (Principal Executive and Financial Officer) pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.
66
(1)
Incorporated by reference to the Form S-1 Registration Statement filed with the SEC on September 9, 2009.
(2)
Incorporated by reference to the Form 10-K Annual Report filed with the Securities and Exchange Commission on April 6, 2011
(3)
Incorporated by reference to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on May 14, 2012
(4)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 27, 2012.
(5)
Incorporated by reference to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on November 20, 2012.
(6)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on February 18, 2015
(7)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 12, 2015
(8)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on May 1, 2015
(9)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 16, 2015
(10)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on August 21, 2015
(11)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 20, 2016
(12)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 20, 2016
(13)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 30, 2017
(14)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 7, 2017
(15)
Incorporated by reference to the Form 8-K Current Report filed with the Securities and Exchange Commission on January 3, 2018
67
(16)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 21, 2018
(17)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 18, 2018
(18)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 26, 2018.
(19)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 9, 2018.
(20)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 18, 2018.
(21)
Incorporated by reference
    to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on June 19, 2019.
(22)
Incorporated by reference
    to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on July 12, 2019.
(23)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on July 15, 2019.
(24)
Incorporated by reference
    to the Form -8-K Current Report filed with the Securities and Exchange Commission on August 5, 2019.
(39)
Incorporated by reference
    to the Form 10-Q Quarterly Report filed with the Securities and Exchange Commission on August 7, 2019.
(25)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 16, 2019.
(26)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 25, 2019.
(27)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 2, 2020.
(28)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on March 11, 2020.
(29)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on July 24, 2020.
(30)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on August 10, 2020.
(31)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on May 21, 2021.
(32)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 1, 2021.
(33)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on August 23, 2021.
(34)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on September 29, 2021.
(35)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on October 6, 2021.
(36)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on November 11, 2021
(37)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on December 20, 2021
(38)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on December 28, 2021
(39)
Incorporated by reference
    to the Form S-1 Registration Statement filed with the Securities and Exchange Commission on January 12, 2022
(40)
Incorporated by reference
    to the Form 10-K Annual Report filed with the Securities and Exchange Commission on March 25, 2022
(41)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on April 18, 2022
(42)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on May 10, 2022
(43)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 15, 2022.
(44)
Incorporated by reference
    to the Form 8-K Current Report filed with the Securities and Exchange Commission on June 21, 2022.
68
SIGNATURES
In
accordance with Section 13 or 15(d) of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned,
there unto duly authorized.
GBT TECHNOLOGIES INC.
(Registrant)
Date: August 10, 2022
By:
/s/ Mansour Khatib
Mansour Khatib
Chief Executive Officer
(Principal Executive, Financial and Accounting Officer)
69