Global Interactive Technologies, Inc.

Global Interactive Technologies, Inc. announced it has regained compliance with Nasdaq's continued listing rule 5250(c)(1). The company previously received notices for failing to timely file its Form 10-Q for Q1 2026 and Form 10-K for fiscal year 2025. Nasdaq confirmed compliance on June 24, 2026, following the company's filing of the overdue Form 10-Q on June 22, 2026, and the Form 10-K on May 26, 2026.

Global Interactive Technologies, Inc. announced a private placement agreement with an institutional investor to raise approximately $2.0 million in gross proceeds. The company will sell 1,092,896 shares of common stock (or pre-funded warrants) and an equal number of accompanying warrants. The combined purchase price for one share and one warrant is $1.83, with warrants exercisable at $1.83 per share after six months for a term of 5.5 years. The closing of the offering is anticipated around June 26, 2026.

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.

Global Interactive Technologies, Inc. (GITS) reported substantial doubt about its ability to continue as a going concern due to recurring losses and a working capital deficiency, requiring significant additional capital. The company is in the early-stage commercialization of its Faning platform, a global digital fan engagement platform for K-Culture, which generated limited revenue in 2025. Faning, the successor to the Fantoo platform, focuses on user interaction, content creation, and community engagement with a diversified monetization model.

Global Interactive Technologies, Inc. announced it received a delinquency compliance alert notice from Nasdaq on May 21, 2026. The notice indicates the company is not in compliance with Nasdaq's continued listing requirements due to its failure to timely file its Quarterly Report on Form 10-Q for the period ended March 31, 2026. This follows a previous notification regarding the delinquency in filing its Annual Report on Form 10-K for the period ended December 31, 2025. The company has until October 12, 2026, to regain compliance for all delinquent filings and intends to submit an updated plan to Nasdaq by June 22, 2026.

Global Interactive Technologies, Inc. (GITS) entered into a Securities Purchase Agreement with Firstfire Global Opportunities Fund, LLC to issue a convertible promissory note with an aggregate principal amount of $550,000.00. The buyer paid a purchase price of $506,000.00, after withholding fees for legal, due diligence, and the placement agent. The proceeds from this financing will be allocated towards business development and general working capital.

Global Interactive Technologies, Inc. received a notice from Nasdaq on April 16, 2026, indicating non-compliance with Nasdaq Listing Rule 5250(c)(1) due to the untimely filing of its Annual Report on Form 10-K for the year ended December 31, 2025. The company has 60 calendar days from the notification date to submit a plan to regain compliance. GITS expects to file the Form 10-K promptly, and its common stock will continue to be listed and traded on Nasdaq during this grace period.