Global Interactive Technologies Q1 Net Loss $497K; Going Concern Doubt
Global Interactive Technologies, Inc. reported a net loss of $496,993 for the three months ended March 31, 2026, with minimal revenue of $96. The company faces substantial doubt about its ability to continue as a going concern due to recurring losses, an accumulated deficit of $43 million, and a working capital deficiency of $1.13 million. Management plans to address these issues by launching the Faning 2.0 platform, pursuing new business ventures, and seeking additional capital.
Key Highlights
- Auditors express substantial doubt about the company's ability to continue as a going concern.
- Reported a net loss of $496,993 for Q1 2026, an improvement from $566,681 in Q1 2025.
- Generated minimal revenue of $96 in Q1 2026, up from $0 in the prior year period.
- Accumulated deficit reached $43,031,188 as of March 31, 2026.
- Working capital deficiency stood at $1,130,771 as of March 31, 2026.
- Cash and cash equivalents decreased to $360 as of March 31, 2026, from $6,990 at Dec 31, 2025.
- Basic and diluted loss per share was $(0.14) for Q1 2026.
Price Impact
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