GITS
Global Interactive Technologies, Inc.0.7682
-0.3318-30.2%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
2.82MP/E (TTM)
-Basic EPS (TTM)
-2.08Dividend Yield
0%Recent Filings
8-K
Director removed for cause
Global Interactive Technologies amended its bylaws on September 5, 2025, to allow board removal of directors for cause in specified cases, then promptly ousted director Aram Ahn for failing to sign required documents amid regulatory and contractual lapses. This tightens governance controls. The board now holds steady at four members. Yet risks linger from such internal rifts.
10-Q
Q2 FY2025 results
Global Interactive Technologies kicked off revenue with $29 in Q2 FY2025 ended June 30, 2025, a leap from zero in the prior year as continuing operations, thanks to the revamped FANING platform launched in April. Yet operating losses widened to $1.2M year-to-date, up 148% y/y, driven by $509K in intangible amortization and general expenses, while net loss narrowed 23% to $1.2M after shedding discontinued units. Cash climbed to $10.9K from $2.4K at year-end, bolstered by $558K in short-term borrowings and $839K in debt-to-equity conversions that added 908K shares. Debt sits light at $109K short-term, with no revolver or covenants noted. The platform boasts 26.6M users, priming for K-culture monetization. Regulatory hurdles in Korea loom over expansion.
8-K
Post-IPO mismanagement update
Global Interactive Technologies disclosed on July 2, 2025, a series of post-IPO challenges stemming from prior management's financial mismanagement, which depleted the company's Chase Bank account and risked operations. New leadership, including interim CEO Taehoon Kim appointed in February 2024, removed key executives, added board members, and cooperated with regulators. The firm sold its Hanryu Bank subsidiary on December 28, 2024, while correcting erroneous filings naming Jaemen Lee as president. Unusual trading volume hit 55.9 million shares on May 30, 2025, at a $2.41 close, unexplained by management.
8-K
SFC fines company over unregistered shares
Global Interactive Technologies faced a KRW 142.1 million ($104,750) fine from Korea's SFC on November 6, 2024, for issuing 462,847 common shares to 124 investors between April and July 2023 without a required securities registration statement, breaching public offering rules. The company appealed the sanction on June 24, 2025, withholding payment amid ongoing challenges, with no penalties on current management. This regulatory snag could curb future Korean capital raises until resolved.
8-K
Debt converts to equity
Global Interactive Technologies secured $172,666 in loans from PixelArc—$86,666 at 8% interest maturing March 2026 for operations, and $86,000 interest-free maturing May 2025 for Nasdaq fees—backed by a security interest in its intellectual property. After default on the short-term note, PixelArc opted to convert the full principal into 246,666 common shares at $0.70 each, below market value, to bolster liquidity. Board unanimously approved, noting enhanced financial flexibility. PixelArc reserves rights to matching investor terms through 2025 and board observer status above 5% ownership.
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