$GITS

Global Interactive Technologies, Inc.

CIK:0001911545|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 126	$ 29	$ 222	$ 29
Cost of Revenue
Gross profit (loss)	126	29	222	29
OPERATING EXPENSES:
Depreciation	163	313	330	616
Amortization	189,316	258,603	378,632	508,551
Lease expense	54,945	58,742	111,273	115,519
General and Administrative expense	471,629	359,302	722,265	615,742
Operating cost and expenses	716,053	676,960	1,212,500	1,240,428
OPERATING LOSS	(715,927)	(676,931)	(1,212,278)	(1,240,399)
OTHER INCOME (EXPENSE):
Loss on extinguishment of debt	(139,920)		(139,920)
Interest income (expense), net	(50,640)	(2,584)	(51,282)	(5,840)
Gain (loss) on foreign currency transactions	(1,943)	1,858	(1,943)	1,911
Other income (expense), net		(392)		(402)
Net other expense	(192,503)	(1,118)	(193,145)	(4,331)
Net loss before income taxes	(908,430)	(678,049)	(1,405,423)	(1,244,730)
Income tax expense
Net loss	$ (908,430)	$ (678,049)	$ (1,405,423)	$ (1,244,730)
Basic net loss per share	$ (0.25)	$ (0.22)	$ (0.38)	$ (0.41)
Diluted net loss per share	$ (0.25)	$ (0.22)	$ (0.38)	$ (0.41)
Weighted average number of shares outstanding, basic	3,698,228	3,024,647	3,686,284	3,024,647
Weighted average number of shares outstanding, diluted	3,698,228	3,024,647	3,686,284	3,024,647

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (908,430)	$ (678,049)	$ (1,405,423)	$ (1,244,730)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	163	313	330	616
Amortization of intangible assets	189,316	258,603	378,632	508,551
Amortization of right-of-use asset	54,945	58,742	111,273	115,519
Loss on extinguishment of debt	139,920		139,920
Foreign currency transaction loss on repayment of borrowings			1,943
Changes in operating assets and liabilities:
Accounts receivable			28	(28)
Non-trade receivables			610	(13,485)
Prepaid expenses and other current assets			1,911	5,038
Other assets			13,554
Non-trade accounts payable			(62,745)	97,514
Accrued expenses and other current liabilities			261,046	1,360
Net cash used in operating activities			(558,921)	(529,645)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net cash used in investing activities
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of pre-funded warrants and common stock warrants, net of offering costs			1,808,907
Net cash provided by financing activities			1,703,371	558,071
Net change in cash			1,144,450	28,426
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND EQUIVALENTS			10,701	(19,895)
CASH AND CASH EQUIVALENTS AT BEGINNING OF THE PERIOD			6,990	2,352
CASH AND CASH EQUIVALENTS AT END OF THE PERIOD	$ 1,162,141	$ 10,883	1,162,141	10,883
SUPPLEMENTARY INFORMATION:
Cash paid during the period for interest			(50,013)	(5,842)
Supplemental disclosure of non-cash investing and financing activities:
Offsetting borrowings by converting short-term loans into 908,423 shares of common stock				838,520
Total				838,520
Nonrelated Party [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term borrowings			588,816	528,015
Repayments of short-term borrowings			(696,501)
Related Party [Member]
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from short-term borrowings			4,010	30,063
Repayments of short-term borrowings			$ (1,861)	$ (7)

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2026	Dec. 31, 2025
CURRENT ASSETS:
Cash and Cash Equivalents	$ 1,162,141	$ 6,990
Accounts receivable, net of allowance	18	46
Non-trade receivables	7,915	8,525
Prepaid expenses and other receivables	24,804	26,715
Total current assets	1,194,878	42,276
PROPERTY AND EQUIPMENT, NET	1,168	1,494
INTANGIBLE ASSETS, NET	2,650,429	3,029,061
OPERATING LEASE RIGHT-OF-USE ASSETS	1,067,348	1,264,546
OTHER ASSETS	25,163	38,717
Total Assets	4,938,986	4,376,094
CURRENT LIABILITIES:
Non-trade accounts payable	687,268	750,013
Accrued expenses and other current liabilities	322,146	61,100
Total current liabilities	1,162,864	933,389
Total Liabilities	1,162,864	933,389
STOCKHOLDERS’ EQUITY:
Common Stock, $0.001 par value. Authorized 110,000,000 shares (common: 100,000,000; preferred: 10,000,000); 3,674,208 shares issued and outstanding as of June 30, 2026 and December 31, 2025	3,674	3,674
Additional paid-in and other capital	48,293,880	46,484,973
Accumulated deficit	(43,939,617)	(42,534,194)
Accumulated other comprehensive loss	(581,815)	(511,748)
Total Stockholders’ Equity	3,776,122	3,442,705
Total Liabilities and Stockholders’ Equity	4,938,986	4,376,094
Nonrelated Party [Member]
CURRENT LIABILITIES:
Short-term borrowings	63,687	29,028
Related Party [Member]
CURRENT LIABILITIES:
Short-term borrowings	$ 89,763	$ 93,248