Global Interactive Technologies, Inc.
For the period ended Dec 31, 2024. Filed Apr 30, 2025.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Apr 30, 2025
GITS$1.53-1.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Balance Sheets
December 31, 2024 and December 31, 2023
| December 31, 2024 | December 31, 2023 | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash and Cash Equivalents | $2,352 | $69,688 |
| Short-term loans receivable | 338 | 131,080 |
| Non-trade receivables | 297 | — |
| Prepaid expenses and other receivable | — | 748 |
| Current assets, discontinued operations | — | 20,219,410 |
| Total current assets | 2,987 | 20,420,926 |
| PROPERTY PLANT AND EQUIPMENT, NET | 2,656 | 124,030 |
| INTANGIBLE ASSETS, NET | 4,940,000 | — |
| OPERATING LEASE RIGHT-OF-USE ASSET | 1,458,780 | — |
| Total Assets | $6,404,423 | $20,544,956 |
| LIABILITIES AND STOCKHOLDER’S DEFICIT | ||
| CURRENT LIABILITIES: | ||
| Short-term loans payable | $20,436 | $— |
| Short-term loans payable from related parties | 349,607 | — |
| Non-trade accounts payable | 290,917 | — |
| Accrued expenses and other current liabilities | 7,379 | — |
| Current liabilities, discontinued operations | — | 7,476,491 |
| Total current liabilities | 668,339 | 7,476,491 |
| Total Liabilities | 668,339 | 7,476,491 |
| Commitments and contingencies (Note 16) | ||
| STOCKHOLDER’SDEFICIT: | ||
| Common Stock, $0.02 par value | ||
| Authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding 2,640,429 common shares and 2,640,429 common shares as of December 31, 2024 and December 31, 2023* | 52,809 | 52,809 |
| Additional paid-in capital* | 44,251,046 | 51,415,476 |
| Accumulated deficit | (37,901,301) | (38,893,762) |
| Accumulated other comprehensive income | (666,470) | 493,942 |
| Equity attributable to equity holder of the Company | 5,736,084 | 13,068,465 |
| Total Stockholders’ Equity | 5,736,084 | 13,068,465 |
| Total Liabilities and Stockholders’ Equity | $6,404,423 | $20,544,956 |
| * | On January 27, 2025, the Company effected a 1-for-20 reverse stock split of its issued and outstanding common shares. As a result of the reverse stock split, every 20 shares of the Company’s issued and outstanding common stock were combined into one share, reducing the total number of issued shares from 52,808,589 to 2,640,429. |
The par value per share changed from $0.001 to $0.02. All share and per-share amounts in the accompanying consolidated financial statements and related notes have been retroactively adjusted to reflect the reverse stock split for all periods presented.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.