Global Interactive Technologies, Inc.
For the period ended Dec 31, 2024. Filed Apr 30, 2025.
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FY2024 · Filed Apr 30, 2025
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Statements of Changes in Shareholders’ Deficit
Consolidated Statements of Changes in Stockholders’ Equity
| Common Stock · Additional Paid-in and Other · Accumulated · Accumulated other Comprehensive · Non-controlling · Total Stockholder’s Equity | |||||||
|---|---|---|---|---|---|---|---|
| Shares | Amount | Capital | Deficit | Gain (Loss) | interests | (Deficit) | |
| Balance at December 31, 2022* | 2,270,847 | $45,417 | 27,578,666 | $(29,607,852) | $879,420 | $(236,166) | $(1,340,515) |
| Issuance of common stock at $10.00 per share by private placement, net of issuance costs issuance | 50,000 | 1,000 | 9,999,000 | — | — | — | 10,000,000 |
| Issuance of common stock at $10.00 per share by initial public offering, net of issuance costs | 43,866 | 877 | 7,707,140 | — | — | — | 7,708,017 |
| Exercise of warrants at $1.27 per share by cash considerations, net of issuance costs | 51,000 | 1,020 | 427,380 | — | — | — | 428,400 |
| Exercise of warrants at $1.27 per share by cash considerations, net of issuance costs | 209,244 | 4,185 | 5,310,624 | — | — | — | 5,314,809 |
| Exercise of warrants at $1.27 per share by cash considerations, net of issuance costs | 15,472 | 310 | 392,666 | — | — | — | 392,976 |
| translation adjustment | (385,478) | 357,891 | (27,587) | ||||
| Net loss | — | — | — | (9,285,910) | — | (121,725) | (9,407,635) |
| Balance at December 31, 2023 | 2,640,429 | $52,809 | 51,415,476 | $(38,893,762) | $493,942 | $— | $13,068,465 |
| Reclassification of APIC to | |||||||
| Accumulated Deficit | — | — | (7,164,430) | 7,164,430 | — | — | — |
| Currency translation adjustment | — | — | — | — | (1,160,412) | — | (1,160,412) |
| Net loss | — | — | — | (6,171,969) | — | — | (6,171,969) |
| Balance at December 31, 2024 | 2,640,429 | $52,809 | $44,251,046 | $(37,901,301) | $(666,470) | $— | $5,736,084 |
On January 27, 2025, the Company completed a 1-for-20 reverse stock split of its issued and outstanding common shares. As a result, every 20 shares 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 was increased 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.