SafeSpace Global Corp
For the period ended Apr 30, 2025. Filed Jun 13, 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.
Apr 30, 2025 · Filed Jun 13, 2025
SSGCStored price and day change unavailable
What changed in Management’s Discussion and Analysis?
Read the current filingPrevious report: 10-Q
Period ended 2025-01-31; filed 2025-03-14.
0001493152-25-010277
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of OperationsCurrent 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 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 96 previous paragraphs and 114 current paragraphs.
57 unchanged; 37 reworded; 20 added; 1 removed; 1 previous and 0 current paragraphs rearranged.
Tables are not compared: 7 previous and 10 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 (20)
Current 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.
Current 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.
Current report
Intellectual Property
Current report
We have been granted two U.S. patents that further reinforce our proprietary technology portfolio:
Current 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.
Current report
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 report
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 report
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 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.
Current 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 three months ending April 30, 2024.
Current 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.
Current report
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 report
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 report
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 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.
Current 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.
Current 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.
Current report
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 report
Net Cash Used by Investing Activities
Current 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..
Removed paragraphs (1)
Previous report
HITC emphasizes world-class executive experience, operational leaders and business development team members who know how to achieve significant results in an expedited fashion. This team has a systematic growth focus maximizing our patented ambient AI innovative technology to help save lives. We have added new technology team members who are IT executives, architects and engineers, who are leveraging AI to maximize global market penetration. The primary objective is to capture substantial market share in existing and emerging verticals, including senior living, schools, transportation, with plans to expand into commercial buildings and prisons, and beyond. A key new strength lies in HITC’s dedicated professional salesforce, passionate about saving lives and harnessing the power of ambient AI technology to help save lives.
Reworded paragraphs (37)
Previous wording
THE FOLLOWING DISCUSSION OF OUR PLAN OF OPERATION AND RESULTS OF OPERATIONS SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND RELATED NOTES TO THE FINANCIAL STATEMENTS INCLUDED ELSEWHERE IN THIS REPORT. THIS DISCUSSION CONTAINS FORWARD-LOOKING STATEMENTS THAT RELATE TO FUTURE EVENTS OR OUR FUTURE FINANCIAL PERFORMANCE. THESE STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE OUR ACTUAL RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE RISKS AND OTHER FACTORS INCLUDE, AMONG OTHERS, THOSE LISTED UNDER “FORWARD-LOOKING STATEMENTS” AND “RISK FACTORS” AND THOSE INCLUDED ELSEWHERE IN THIS REPORT.
Current wording
THE FOLLOWING DISCUSSION OF OUR PLAN OF OPERATION AND RESULTS OF OPERATIONS SHOULD BE READ IN CONJUNCTION WITH THE FINANCIAL STATEMENTS AND RELATED NOTES TO THE FINANCIAL STATEMENTS INCLUDED ELSEWHERE IN THIS REPORT. THIS DISCUSSION CONTAINS FORWARD-LOOKING STATEMENTS THAT RELATE TO FUTURE EVENTS OR OUR FUTURE FINANCIAL PERFORMANCE. THESE STATEMENTS INVOLVE KNOWN AND UNKNOWN RISKS, UNCERTAINTIES AND OTHER FACTORS THAT MAY CAUSE OUR ACTUAL RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS TO BE MATERIALLY DIFFERENT FROM ANY FUTURE RESULTS, LEVELS OF ACTIVITY, PERFORMANCE OR ACHIEVEMENTS EXPRESSED OR IMPLIED BY THESE FORWARD-LOOKING STATEMENTS. THESE FORWARD-LOOKING STATEMENTS ARE SUBJECT TO NUMEROUS RISKS AND UNCERTAINTIES, INCLUDING OUR ABILITY TO COMMERCIALIZE NEW PRODUCTS, HIRE AND RETAIN KEY PERSONNEL, AND SECURE SUFFICIENT FUNDING TO EXECUTE OUR GROWTH PLAN. IF OUR ASSUMPTIONS REGARDING PLANNED EXPENDITURES OR REVENUE GENERATION PROVE INACCURATE, WE MAY NEED TO ADJUST OUR STRATEGIC TIMELINE OR RESOURCE ALLOCATION,WHILE WE BELIEVE THESE PATENTS PROVIDE MEANINGFUL PROTECTION FOR CERTAIN ASPECTS OF OUR TECHNOLOGY, THERE IS NO GUARANTEE THAT THEY WILL PREVENT ALL COMPETITORS FROM DEVELOPING SIMILAR PRODUCTS, FAILURE TO COMPLY WITH THE FAMILY EDUCATIONAL RIGHTS AND PRIVACY ACT (“FERPA”) COULD LIMIT OR DELAY OUR ABILITY TO DEPLOY SAFESCHOOL™ IN CERTAIN JURISDICTIONS, IMPACT CUSTOMER ADOPTION, OR EXPOSE THE COMPANY TO REGULATORY RISK AND OTHER FACTORS INCLUDE, AMONG OTHERS, THOSE LISTED UNDER “FORWARD-LOOKING STATEMENTS” AND “RISK FACTORS” AND THOSE INCLUDED ELSEWHERE IN THIS REPORT.
Previous wording
Healthcare Integrated Technologies, Inc. is focused on ambient AI technology solutions, dedicated to enhancing safety and security across various sectors, including healthcare, education, transportation, manufacturing, incarceration, and commercial industries. The company’s mission is to help save lives worldwide by developing advanced AI technologies designed to enhance situational awareness and mitigate risks in critical environments. We are currently marketing five 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 five more innovative solutions:
Current wording
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 wording
As of the date of this filing, the Company has approximately $9,000,000 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. HITC 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 $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.
Previous wording
Highlighted achievements for the six months ending January 31, 2025 include:
Current wording
Highlighted achievements for the nine months ending April 30, 2025 include:
Previous wording
Our business did not produce revenue during the three-month period ending January 31, 2025. We recognized $21,769 of revenue for professional fees from our contract for the three-month period ending January 31, 2024.
Current wording
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 wording
Officers’ Salaries - Officers’ salaries increased $53,827, or 62%, over the prior period primarily due to the addition of the President & Chief Strategy Officer and increased pay for the Chief Financial Officer and Chief Executive Officer compared to the previous period, the Company’s officers accepted voluntary pay reductions in the prior comparable period.
Current 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.
Previous wording
Contract labor – Contract labor increased $30,942 over the prior period and is attributable to the addition of new finance and accounting personnel.
Current 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.
Previous wording
*Professional Fees -*Professional fees increased $36,400, or 306% over the same period in the prior year primarily due to increased accounting and legal fees and the addition of a grant writing consultant.
Current 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.
Previous wording
Software Development – Software development expenses increased $34,504, or 788% over the same period in the prior year due to an increase in the use of independent contractors for specific development projects.
Current wording
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 wording
*Travel and entertainment –*Travel and entertainment expense increased $60,176 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 $52,108 over the same period in the prior year. The increase is primarily due to increased business travel by the senior management team.
Previous wording
*Advertising and Marketing -*Advertising and marketing costs increased $72,572 over the same period in the prior year due to no advertising and marketing expenses during the three months ending January 31, 2025.
Current 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.
Previous wording
Rent expense – Rent expense increased $15,458 over the same period in the prior year due to no rent expense in the prior year.
Current 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.
Previous wording
Office expense- Office expense increased $45,209 primarily due to increases in office activities over the same period in the prior year.
Current wording
Office expense- Office expense increased $21,560 primarily due to increases in office expense activity over the same period in the prior year.
Previous wording
Other- Other expenses increased $17,002 over the same period in the prior year due to no advertising and marketing expenses during the three months ending January 31, 2024.
Current 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.
Previous wording
*Stock-based Compensation -*Stock-based compensation expense increased $620,472 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 $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.
Previous wording
Amortization- Amortization expense increased $67,900, or 122% over the same period in the prior year due to a reduction in the estimated useful life from three years to two years of software development costs.
Current 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.
Previous wording
Interest Expense - Interest expense increased $5,588, or 21%, over the same period in the prior year due to a decrease in the average outstanding debt balance during this same period in the prior period.
Current wording
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 wording
Six Months Ending January 31, 2025 Compared to the Six Months Ending January 31, 2024
Current wording
Nine Months Ending April 30, 2025 Compared to the Nine Months Ending April 30, 2024
Previous wording
Our business did not produce revenue during the six-month period ending January 31, 2025. We recognized $21,769 of revenue for professional fees from our contract for the six-month period ending January 31, 2024.
Current wording
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 wording
The table below presents a comparison of our operating expenses for the six months ending January 31, 2025 and 2024:
Current wording
The table below presents a comparison of our operating expenses for the nine months ending April 30, 2025 and 2024:
Previous wording
Officers’ Salaries - Officers’ salaries increased $104,197, or 60%, over the prior period primarily due to the addition of the President & Chief Strategy Officer and increased pay for the Chief Financial Officer and Chief Executive Officer compared to the previous period, the Company’s officers accepted voluntary pay reductions in the prior comparable period.
Current wording
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 wording
Contract labor – Contract labor increased $66,953 over the prior period and is attributable to the addition of new finance and accounting personnel.
Current wording
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 wording
*Professional Fees -*Professional fees increased $66,213, or 121%. over the same period in the prior year primarily due to increased accounting and legal fees and the addition of a grant writing consultant.
Current wording
*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 wording
Software Development – Software development expenses increased $64,310, or 777% over the same period in the prior year due to an increase in the use of independent contractors for specific development projects.
Current wording
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 wording
*Travel and entertainment –*Travel and entertainment expense increased $84,091 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 $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 wording
*Advertising and Marketing -*Advertising and marketing costs increased $87,589 over the same period in the prior year due to minimal expenses during the six months ending January 31, 2025.
Current wording
*Advertising and Marketing -*Advertising and marketing costs increased $158,176 over the same period in the prior year due to increased promotional activities.
Previous wording
Rent expense – Rent expense increased $25,577 over the same period in the prior year due to no rent expense in the prior year.
Current wording
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 wording
Office expense- Office expense increased $55,708 primarily due to increases in office activities over the same period in the prior year.
Current wording
Office expense- Office expense increased $79,180 primarily due to increases in office expense activity over the same period in the prior year.
Previous wording
Other- Other expenses increased $17,222 over the same period in the prior year due to minimal activity during the prior year.
Current wording
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 wording
*Stock-based Compensation -*Stock-based compensation expense increased $854,912 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 $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 wording
Amortization- Amortization expense increased $66,557, or 60% over the same period in the prior year due to a reduction in the estimated useful life from three years to two years of software development costs.
Current wording
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 wording
The table below presents a comparison of our other income (expense) for the six months ended January 31, 2025 and 2024:
Current wording
The table below presents a comparison of our other income (expense) for the Nine months ended April 30, 2025 and 2024:
Previous wording
Interest Expense - Interest expense increased $4,495, or 34%, over the same period in the prior year due to an increase in the average outstanding debt balance during the same period in the prior year.
Current wording
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 wording
Current assets for the interim period ending January 31, 2025 increased $6,772,654 as compared to the fiscal year ended July 31, 2024. The increase is primarily due to the receipt of $6,998,900 in net proceeds from the sale of our common stock at an average price of $0.114 per share during the six months ending January 31, 2025.
Current wording
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.
Previous wording
Current liabilities for the interim period ending January 31, 2025 decreased $173,119 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, related party.
Current 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.
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 $873,002 for the six months ended January 31, 2025 as compared to net cash provided by operating activities of $187,571 for the six months ended January 31, 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, including 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 $1,754,005 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.
Previous wording
Net cash provided by financing activities was $6,903,656 for the six months ending January 31, 2025, which represents a $6,775,859 increase over the same period in the prior year. The increase is primarily due to the receipt of $6,998,900 in net proceeds from the sale of our common stock at an average price of $0.114 per share during the six months ending January 31, 2025.
Current 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.
Rearranged previous paragraphs (1)
Previous report — wording carried elsewhere
*Impairment of intangibles –*Impairment of intangibles increased $30,547 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.