SafeSpace Global Corp
For the period ended Oct 31, 2025. Filed Dec 15, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Oct 31, 2025 · Filed Dec 15, 2025
SSGCStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-04-30; filed 2025-06-13.
0001641172-25-014988
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent report: 10-Q
Period ended 2025-10-31; filed 2025-12-15.
0001493152-25-027661
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsThe baseline is this issuer’s latest earlier reporting period of the same form that was filed before the current report. A previous 10-Q is a different quarter, not a year-over-year comparison. Amendments are excluded.
Compared 114 previous paragraphs and 88 current paragraphs.
47 unchanged; 27 reworded; 14 added; 27 removed; 13 previous and 0 current paragraphs rearranged.
Tables are not compared: 10 previous and 4 current tables excluded. Dates, whitespace, punctuation and numbering changes are ignored; changes to financial figures remain significant.
A changed paragraph is not evidence that risk increased or decreased. An unchanged paragraph does not establish that risk stayed the same.
Added paragraphs (14)
Current report
SafeSpace Global Corporation (collectively the “Company,” “we,” “our” or “us”) is a multimodal AI technology solutions company with a dedicated team focused on driving safety innovation across multiple industries. We are currently marketing products and solutions that utilize advanced AI tools to monitor and enhance resident safety, reduce the risk of injuries, and improve overall care efficiency.
Current report
Highlights and achievements include:
Current report
We believe these arrangements advance our senior living strategy by promoting platform adoption that consolidates key safety functions—such as elopement detection, real-time alerts, visitor safety, investigation support, and staff workflow tools—into a single secure dashboard, reducing manual monitoring and improving response times.
Current report
We had no Contract revenue or Cost of contracts during the three months ended October 31, 2025 or 2024, respectively.
Current report
Software Development – Software development expenses decreased $22,928, or 68% over the same period in the prior year primarily due to in-process costs being capitalized during the three months ending October 31, 2025.
Current report
Interest Expense - Interest expense decreased $13,937 over the prior year. Interest expense decreased due to the payoff of all outstanding debt.
Current report
Current assets for the period ending October 31, 2025 decreased $1,564,715 as compared to the fiscal year ended July 31, 2025. The decrease is primarily due to $1,687,066 in operating expenses experienced during the current period.
Current report
Net cash used by investing activities for the development of software for our internal use was $388,734 for the three months ending October 31, 2025. We did not incur net cash used in investing activities during the comparable prior period.
Current report
Related Parties
Current report
The Company follows subtopic ASC 850-10 for the identification of related parties and disclosure of related party transactions. Pursuant to Section 850-10-20, the related parties include: (a) affiliates of the Company (“Affiliate” means, with respect to any specified person, any other person that, directly or indirectly through one or more intermediaries, controls, is controlled by or is under common control with such person, as such terms are used in and construed under Rule 405 under the Securities Act); (b) entities for which investments in their equity securities would be required, absent the election of the fair value option under the Fair Value Option Subsection of Section 825-10-15, to be accounted for by the equity method by the investing entity; (c) trusts for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of management; (d) principal owners of the Company; (e) management of the Company; (f) other parties with which the Company may deal if one party controls or can significantly influence the management or operating policies of the other to an extent that one of the transacting parties might be prevented from fully pursuing its own separate interests; and (g) other parties that can significantly influence the management or operating policies of the transacting parties or that have an ownership interest in one of the transacting parties and can significantly influence the other to an extent that one or more of the transacting parties might be prevented from fully pursuing its own separate interests.
Current report
Contract Liabilities
Current report
The Company receives payments from customers based upon contractual billing schedules. Contract liabilities include payments received in advance of performance under the contract. Contract assets include amounts related to the Company’s contractual right to consideration for completed performance obligations not yet invoiced. Our contract assets and liabilities are reported on an individual contract basis at the end of each reporting period. Contract liabilities are classified as current or noncurrent based on the timing of when we expect to recognize revenue. The Company expects to recognize all outstanding contract liabilities over the next 12 months.
Current report
Contract Combination
Current report
The Company may execute more than one contract or agreement with a single customer. The Company evaluates whether the agreements were negotiated as a package with a single objective, whether the amount of consideration to be paid in one agreement depends on the price and/or performance of another agreement, or whether the goods or services promised in the agreements represent a single performance obligation. The conclusions reached can impact the allocation of the transaction price to each performance obligation and the timing of revenue recognition related to those arrangements. The Company applied the revenue model to a portfolio of contracts with similar characteristics where we expected that the financial statements would not differ materially from applying it to the individual contracts within that portfolio.
Removed paragraphs (27)
Previous report
Effective April 24, 2025, we completed a strategic rebranding initiative, changing our corporate name from Healthcare Integrated Technologies, Inc. to SafeSpace Global Corporation, in addition to changing our stock ticker from HITC to SSGC. Both name and stock symbol change were approved by FINRA on April 23, 2025. This name change reflects our expanded mission to deliver life-saving ambient, multimodal AI technology solutions across a wide range of environments beyond healthcare, including schools, transit systems, correctional facilities, and commercial infrastructure. With operations spanning the United States, Europe, Singapore, and India, the rebranding supports SafeSpace’s evolution into a technology-driven global enterprise dedicated to protecting lives wherever people live, learn, travel, or work. We believe that this transformation strengthens our market positioning and aligns our corporate identity with our broadened strategic vision.
Previous report
We are currently marketing the following products and solutions, including our initial product, SafeSpace® Fall Monitoring, which utilizes advanced AI monitoring tools to enhance resident safety in senior living, reduce the risk of injuries, and improve overall care efficiency. Additionally, we have expanded our services and offerings beyond senior living facilities, into schools and transportation where we’ve recently launched these innovative solutions:
Previous report
To support the delivery and commercialization of these solutions, management has appointed a new Chief Technology Officer (CTO) and engaged a specialized team of consultants. These strategic investments are intended to accelerate product development, improve time-to-market, and create long-term shareholder value by establishing sustainable revenue streams.
Previous report
Intellectual Property
Previous report
We have been granted two U.S. patents that further reinforce our proprietary technology portfolio:
Previous report
We believe these patents enhance our competitive position in the AI-based monitoring sector and reflect our commitment to protecting both privacy and lives.
Previous report
Highlighted achievements for the nine months ending April 30, 2025 include:
Previous report
Three Months Ending April 30, 2025 Compared to the Three Months Ending April 30, 2024
Previous report
Our business did not produce revenue during the three-month period ending April 30, 2025. We recognized $60,283 of revenue from fees from our contract for the three-month period ending April 30, 2024.
Previous report
Software Development – Software development expenses increased $69,194, or 988% over the same period in the prior year due to an increase in the use of independent contractors and consultants for specific development projects.
Previous report
Gain (loss) on extinguishment of debt - Gain (loss) on extinguishment of debt increased $113,645 over the same period in the prior year due to holders exchanging 5% Convertible Promissory Notes plus accrued interest through the conversion date at a conversion price of $0.50 per share, the settlement of the Note Payable to Acorn Management Partners offset by a loss for the unamortized issuance costs from Platinum Note 4.
Previous report
Interest expense - Interest expense decreased $6,489, or 49%, over the same period in the prior year due to aa decrease in the average outstanding debt balance during the same period in the prior year.
Previous report
Nine Months Ending April 30, 2025 Compared to the Nine Months Ending April 30, 2024
Previous report
Revenues
Previous report
Our business did not produce revenue during the nine-month period ending April 30, 2025. We recognized $82,052 of revenue for fees from our contract for the nine-month period ending April 30, 2024.
Previous report
Operating Expenses
Previous report
Officers’ compensation- Officers’ compensation increased $165,500 over the prior period primarily due to the addition of the President & Chief Strategy Officer, increased pay for the Chief Financial Officer and Chief Executive Officer compared to the previous period and the addition of our Chief Revenue Officer. Additionally, the Company’s officers accepted voluntary pay reductions in the prior comparable period.
Previous report
*Professional Fees -*Professional fees increased $241,783, or 346% over the same period in the prior year primarily due to increased legal and accounting fees and the addition of a grant writing consultant.
Previous report
Insurance– Insurance expense increased $14,997 over the prior period and is attributable to no insurance expenses during the three months ending April 30, 2024.
Previous report
Software Development – Software development expenses increased $133,504, or 873% over the same period in the prior year due to an increase in the use of independent contractors and consultants for specific development projects.
Previous report
Sales technology support – Sales technology support expense increased $50,710 over the prior period and is attributable to no sales support expenses during the nine months ending April 30, 2024.
Previous report
Other- Other expenses increased $23,804 over the same period in the prior year primarily due to limited activity during the nine months ending April 30, 2024.
Previous report
Other Income (Expense)
Previous report
Gain (loss) on extinguishment of debt - Gain (loss) on extinguishment of debt increased $113,645 over the same period in the prior year due to holders exchanging 5% Convertible Promissory Notes plus accrued interest through the conversion date at a conversion price of $0.50 per share, the settlement of the Note Payable to Acorn Management Partners offset by a loss for the unamortized issuance costs from Platinum Note 4.
Previous report
Interest expense - Interest expense increased $901, or 2%, over the same period in the prior year due to aa decrease in the average outstanding debt balance during the same period in the prior year.
Previous report
We did not incur net cash used in investing activities during the reporting period. However, management anticipates approximately $250,000 in capitalized software development costs during the remainder of the current fiscal year, and an additional $500,000 in the next fiscal year to support ongoing product innovation..
Previous report
There have been no material changes to our critical accounting policies and estimates from the information provided in Item 7, “Management’s Discussion and Analysis of Financial Condition and Results of Operations,” included in our July 31, 2024 Annual Report.
Reworded paragraphs (27)
Previous wording
SafeSpace Global Corporation is executing a focused growth strategy led by a world-class team of executives with deep experience in scaling innovative companies. Our leadership team combines proven operational expertise with a mission-driven commitment to safety and impact. Our primary objective is to expand the adoption of our life-saving ambient, multimodal AI technology across both existing and emerging verticals. These include senior living, education, transportation, and corrections—with future expansion planned into commercial infrastructure and high-risk institutional settings. To support this growth, we have strengthened our development team with senior IT architects, AI specialists, and systems engineers who are accelerating product innovation and market deployment on a global scale. A key pillar of this strategy is our dedicated sales force, which brings both deep domain knowledge and a shared commitment to leveraging ambient AI to save lives. This integrated team is actively driving customer engagement, market penetration, and adoption of our multimodal safety solutions across diverse environments.
Current wording
SafeSpace Global Corporation is executing a focused growth strategy led by a world-class team of executives with deep experience in scaling innovative companies. Our leadership team combines proven operational expertise with a mission-driven commitment to safety and impact. Our primary objective is to expand the adoption of our life-saving multimodal AI technology across both existing and emerging verticals. These include senior living, education, transportation, and corrections—with future expansion planned into commercial infrastructure and high-risk institutional settings. To support this growth, we have strengthened our development team with senior IT architects, AI specialists, and systems engineers who are accelerating product innovation and market deployment on a global scale. A key pillar of this strategy is our dedicated sales force, which brings both deep domain knowledge and a shared commitment to leveraging AI to save lives. This integrated team is actively driving customer engagement, market penetration, and adoption of our multimodal safety solutions across diverse environments.
Previous wording
As of the date of this filing, the Company has approximately $8,000,000 in cash and cash equivalents from recent private placements. Management believes this adequately supports the Company’s five-year strategic plan enabling strategic initiatives, such as acquisitions, investments in advanced AI technology, and the expansion of its technology development team. SafeSpace Global Corporation remains committed to driving innovation in healthcare technology, with a focus on solutions that enhance safety, efficiency, and patient outcomes across various care settings.
Current wording
As of the date of this filing, the Company has approximately $5,300,000 in cash and cash equivalents from recent private placements. Management believes this adequately supports the Company’s five-year strategic plan enabling strategic initiatives, such as acquisitions, investments in advanced AI technology, and the expansion of its technology development team. SafeSpace Global Corporation remains committed to driving innovation in healthcare technology, with a focus on solutions that enhance safety, efficiency, and patient outcomes across various care settings.
Previous wording
The table below presents a comparison of our operating expenses for the three months ending April 30, 2025 and 2024:
Current wording
The table below presents a comparison of our operating expenses for the three months ended July 31, 2025 and 2024:
Previous wording
Officers’ Compensation - Officers’ compensation increased $61,303, or 71%, over the prior period primarily due to the addition of the President & Chief Strategy Officer, increased pay for the Chief Financial Officer and Chief Executive Officer compared to the previous period and the addition of our Chief Revenue Officer. Additionally, the Company’s officers accepted voluntary pay reductions in the prior comparable period.
Current wording
Officers’ Compensation - Officers’ compensation increased $170,750, or 124%, over the prior period primarily due to the addition of the new executive officers.
Previous wording
Salaries and wages– Salaries and wages increased $47,335 over the prior period and is attributable to the addition of new finance, accounting and administrative personnel.
Current wording
Salaries and wages– Salaries and wages increased $153,206 over the prior period and is attributable to the addition of new finance, accounting and administrative personnel.
Previous wording
Bonuses and incentives – Bonuses and incentives increased $122,645 over the prior period and is attributable to bonuses and incentive payments for the addition of new officers and personal.
Current wording
Bonuses and incentives – Bonuses and incentives increased $15,000 over the prior period and is attributable to bonuses and incentive payments to personal.
Previous wording
Contract labor – Contract labor increased $95,892 over the prior period and is attributable to the addition of new finance, accounting and administrative personnel.
Current wording
Contract labor – Contract labor increased $78,491, or 218%, over the prior period and is attributable to the addition of new contract finance, accounting and administrative personnel.
Previous wording
*Professional Fees -*Professional fees increased $175,570, or 1,140% over the same period in the prior year primarily due to increased legal and accounting fees and the addition of a grant writing consultant.
Current wording
*Professional Fees -*Professional fees increased $180,776, or 250% over the same period in the prior year primarily due to increased legal, accounting, and IT support fees.
Previous wording
Insurance– Insurance expense increased $14,997 over the prior period and is attributable to no insurance expenses during the three months ending April 30, 2024.
Current wording
Insurance– Insurance expense increased $68,863 over the prior period and is attributable to the addition of health, dental and business insurance.
Previous wording
Sales technology support– Sales technology support expense increased $50,710 over the prior period and is attributable to no sales support expenses during the three months ending April 30, 2024.
Current wording
Sales support– Sales support expense increased $2,790 over the prior period and is attributable to no sales support expenses during the prior comparable period.
Previous wording
*Travel and entertainment –*Travel and entertainment expense increased $52,108 over the same period in the prior year. The increase is primarily due to increased business travel by the senior management team.
Current wording
*Travel and entertainment –*Travel and entertainment expense increased $64,966, or 262% over the same period in the prior year. The increase is primarily due to increased business travel.
Previous wording
*Advertising and Marketing -*Advertising and marketing costs increased $70,587, or 2,209% over the same period in the prior year due to increased promotional activities.
Current wording
*Advertising and Marketing -*Advertising and marketing costs increased $24,432, or 138% over the same period in the prior year due to increased promotional activities.
Previous wording
Rent expense – Rent expense increased $20,749 over the same period in the prior year due to no rent expense in the prior year.
Current wording
Rent expense – Rent expense increased $30,680 over the same period in the prior year due to no rent expense in the prior year.
Previous wording
Office expense- Office expense increased $21,560 primarily due to increases in office expense activity over the same period in the prior year.
Current wording
Office expense- Office expense increased $19,264, or 92% primarily due to increases in office expense activity over the same period in the prior year.
Previous wording
Other- Other expenses increased $8,494 over the same period in the prior year primarily due to limited activity during the three months ending April 30, 2024.
Current wording
Other- Other expenses increased $1,305, or 137% over the same period in the prior year primarily due to limited activity over the same period in the prior year.
Previous wording
*Stock-based Compensation -*Stock-based compensation expense increased $285,194 from the same period in the prior year. The increase results from the amortization of the grant date fair value of new restricted stock awards.
Current wording
*Stock-based Compensation -*Stock-based compensation expense increased $298,613, or 116% from the same period in the prior year. The increase results from the amortization of the grant date fair value of new restricted stock awards.
Previous wording
Amortization- Amortization expenses increased $66,305, or 119% over the same period in the prior year, primarily due to a reduction in the estimated useful life from three years to two years of software development costs.
Current wording
Amortization- Amortization expenses decreased $53,665, or 99% over the same period in the prior year, primarily due to a reduction in the estimated useful life from three years to two years of software development costs during the three months ending October 31, 2025.
Previous wording
*Impairment of intangibles –*Impairment of intangibles increased $46,225 over the same period in the prior year. The impairment expense relates to the abandonment of certain patent applications and the establishment of an impairment reserve on active patent applications.
Current wording
*Impairment of Intangibles -*Impairment of intangibles decreased $15,678 over the same period in the prior year. The impairment expense, during the three months ending October 31, 2024, relates to the abandonment of certain patent applications and the establishment of an impairment reserve on active patent applications.
Previous wording
The table below presents a comparison of our other income (expense) for the three months ending April 30, 2025 and 2024:
Current wording
The table below presents a comparison of our other income (expense) for the three months ended October 31, 2025 and 2024:
Previous wording
Interest income - Interest income increased $7,367 over the same period in the prior year due to no interest income in the prior year.
Current wording
Interest income - Interest income increased $67,029 for the three months ended October 31, 2025, resulting from interest earned from our outstanding cash balances. We had no interest income during the three months ended October 31, 2024.
Previous wording
The following table summarizes our working capital for the interim period ended April 30, 2025 and fiscal year ended July 31, 2024:
Current wording
The following table summarizes our working capital for the three months ended October 31, 2025 and fiscal year ended July 31, 2025:
Previous wording
Current liabilities for the interim period ending April 30, 2025 decreased $766,730 as compared to the fiscal year ended July 31, 2024. The decrease is primarily due to decreases in accounts payable and accrued expenses and a reduction in the Notes payable and Notes payable, related party.
Current wording
Current liabilities for the period ending October 31, 2025 decreased $57,265 as compared to the fiscal year ended July 31, 2025. The decrease is primarily due to decreases in accounts payable and accrued expenses over the comparable period.
Previous wording
We currently do not have a revenue source and will continue to have negative cash flow from operations for the near future. The factors in determining operating cash flows are largely the same as those that affect net earnings, except for non-cash expenses such as depreciation and amortization, stock-based compensation, and impairment of intangibles, which affect earnings but do not affect operating cash flow. Net cash used by operating activities was $1,754,005 for the nine months ended April 30, 2025, as compared to net cash used by operating activities of $198,352 for the nine months ended April 30, 2024. The increase in cash used by operating activities is primarily attributable to an increase in operating costs and the payment of accounts payable and accrued expenses, related party items.
Current wording
We currently do not have a revenue source and will continue to have negative cash flow from operations for the near future. The factors in determining operating cash flows are largely the same as those that affect net earnings, except for non-cash expenses such as depreciation and amortization, stock-based compensation, and impairment of intangibles, which affect earnings but do not affect operating cash flow. Net cash used by operating activities was $1,188,899 for the three months ending October 31, 2025, as compared to net cash used by operating activities of $378,667 for the comparable prior period. The increase in cash used by operating activities is primarily attributable to an increase in operating costs and the payment of accounts payable and accrued expenses, related party items.
Previous wording
Net cash provided by financing activities was $9,709,787 for the nine months ending April 30, 2025, which represents a $9,511,816 increase over the same period in the prior year. The increase is primarily due to the receipt of $10,172,074 in net proceeds from the sale of our common stock at an average price of $0.116 per share during the nine months ending April 30, 2025.
Current wording
The company had no net cash provided by financing activities for the three months ending October 31, 2025. Net cash provided by financing activities was $2,216,767 for the three months ending October 31, 2024. The decrease is primarily due to the receipt of $2,452,000 in net proceeds from the sale of our common stock at an average price of $0.10 per share during the three months ending October 31, 2024.
Previous wording
Our interim consolidated financial statements and related public financial information are based on the application of U.S. GAAP. U.S. GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenues and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to U.S. GAAP and are consistently and conservatively applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.
Current wording
Our consolidated financial statements and related public financial information are based on the application of U.S. GAAP. U.S. GAAP requires the use of estimates; assumptions, judgments and subjective interpretations of accounting principles that have an impact on the assets, liabilities, revenues and expense amounts reported. These estimates can also affect supplemental information contained in our external disclosures including information regarding contingencies, risk and financial condition. We believe our use of estimates and underlying accounting assumptions adhere to U.S. GAAP and are consistently and conservatively applied. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results may differ materially from these estimates under different assumptions or conditions. We continue to monitor significant estimates made during the preparation of our financial statements.
Previous wording
Our significant accounting policies are summarized in Note 1 of our interim consolidated financial statements.
Current wording
Our significant accounting policies are summarized in Note 1 of our consolidated financial statements.
Previous wording
We believe the following critical policies impact our more significant judgments and estimates used in preparation of our interim consolidated financial statements.
Current wording
We believe the following critical policies impact our more significant judgments and estimates used in preparation of our consolidated financial statements.
Rearranged previous paragraphs (13)
Previous report — wording carried elsewhere
The table below presents a comparison of our operating expenses for the nine months ending April 30, 2025 and 2024:
Previous report — wording carried elsewhere
Salaries and wages– Salaries and wages increased $47,335 over the prior period and is attributable to the addition of new finance, accounting and administrative personnel.
Previous report — wording carried elsewhere
Bonuses and incentives – Bonuses and incentives increased $122,645 over the prior period and is attributable to bonuses and incentive payments for the addition of new officers and personal.
Previous report — wording carried elsewhere
Contract labor – Contract labor increased $162,845 over the prior period and is attributable to the addition of new finance, accounting and administrative personnel.
Previous report — wording carried elsewhere
*Travel and entertainment –*Travel and entertainment expense increased $136,199 over the same period in the prior year. The increase is primarily due to increased business travel by the senior management team.
Previous report — wording carried elsewhere
*Advertising and Marketing -*Advertising and marketing costs increased $158,176 over the same period in the prior year due to increased promotional activities.
Previous report — wording carried elsewhere
Rent expense – Rent expense increased $46,326 over the same period in the prior year due to no rent expense in the prior year.
Previous report — wording carried elsewhere
Office expense- Office expense increased $79,180 primarily due to increases in office expense activity over the same period in the prior year.
Previous report — wording carried elsewhere
*Stock-based Compensation -*Stock-based compensation expense increased $1,140,106 from the same period in the prior year. The increase results from the amortization of the grant date fair value of new restricted stock awards.
Previous report — wording carried elsewhere
Amortization- Amortization expenses increased $132,862, or 80% over the same period in the prior year, primarily due to a reduction in the estimated useful life from three years to two years of software development costs.
Previous report — wording carried elsewhere
The table below presents a comparison of our other income (expense) for the Nine months ended April 30, 2025 and 2024:
Previous report — wording carried elsewhere
Interest income - Interest income increased $7,367 over the same period in the prior year due to no interest income in the prior year.
Previous report — wording carried elsewhere
Current assets for the interim period ending April 30, 2025 increased $7,980,669 as compared to the fiscal year ended July 31, 2024. The increase is primarily due to the receipt of $10,171,074 in net proceeds from the sale of our common stock at an average price of $0.116 per share during the nine months ending April 30, 2025.