Global Innovative Platforms Inc. Files 10-Q

TL;DR

GIP filed its 10-Q for Q4 2023. Check financials.

AI Summary

Global Innovative Platforms Inc. filed a 10-Q for the period ending December 31, 2023. The company, formerly known as Canning Street Corp, is incorporated in Delaware and operates in the real estate and construction sector. Its principal executive offices are located at 149 James Place, Maitland, FL 32751.

Why It Matters

This filing provides a quarterly update on Global Innovative Platforms Inc.'s financial performance and operational status, which is crucial for investors and stakeholders to assess the company's health.

Risk Assessment

Risk Level: low — The filing is a standard quarterly report with no immediate red flags or significant negative disclosures.

Key Numbers

• 0930 — Fiscal Year End (Indicates the company's annual reporting cycle.)
• 321-230-3739 — Business Phone (Contact number for the company.)

Key Players & Entities

• Global Innovative Platforms Inc. (company) — Filer of the 10-Q
• Canning Street Corp (company) — Former name of the filer
• 149 James Place, Maitland, FL 32751 (location) — Business and mailing address
• 20231231 (date) — End of the reporting period

FAQ

Filing Documents

• e5903_10q.htm (10-Q) — 456KB
• e5903_ex31-1.htm (EX-31.1) — 9KB
• e5903_ex32-1.htm (EX-32.1) — 6KB
• 0001731122-24-001347.txt ( ) — 2150KB
• cstc-20231231.xsd (EX-101.SCH) — 16KB
• cstc-20231231_cal.xml (EX-101.CAL) — 23KB
• cstc-20231231_def.xml (EX-101.DEF) — 28KB
• cstc-20231231_lab.xml (EX-101.LAB) — 173KB
• cstc-20231231_pre.xml (EX-101.PRE) — 136KB
• e5903_10q_htm.xml (XML) — 175KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 2 Condensed Balance Sheets (Unaudited) as of December 31, 2023 and September 30, 2023 (Audited) 2 Condensed Statements of Operations (Unaudited) for the Three Months Ended December 31, 2023 and 2022 3 Condensed Statements of Stockholders' Deficit (Unaudited) for the Three Months Ended December 31, 2023 and 2022 4 Condensed Statements of Cash Flows (Unaudited) for the Three Months Ended December 31, 2023 and 2022 5 Notes to Condensed Financial Statements (Unaudited) 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 16 Item 4.

Controls and Procedures

Controls and Procedures 16

- OTHER INFORMATION

PART II - OTHER INFORMATION 16 Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 17 Item 3. Defaults Upon Senior Securities 17 Item 4. Mine Safety Disclosures 17 Item 5. Other Information 17 Item 6. Exhibits 18

SIGNATURES

SIGNATURES 19 1 PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS GLOBAL INNOVATIVE PLATFORMS, INC. CONDENSED BALANCE SHEETS DECEMBER 31, SEPTEMBER 30, 2023 2023 (Unaudited) (Audited) ASSETS Current Assets Cash and Cash Equivalents $ 1,685 $ 415 Total Current Assets 1,685 415 Total Assets $ 1,685 $ 415 LIABILITIES AND SHAREHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 11,837 $ 3,004 Loan Payable – Related Party 186,363 361,364 Total Current Liabilities 198,200 364,368 Total Liabilities 198,200 364,368 Commitments and Contingencies (Note 8) — — Shareholders' Deficit Preferred Stock, $ 0.0001 par value, 10,000,000 shares authorized, 0 issued or outstanding — — Common Stock, $ 0.0001 par value, 1,990,000,000 shares authorized, 27,310,112 and 619,085 issued and outstanding 2,731 62 Stock Subscriptions — 1,547 Additional Paid in Capital 251,238 35,454 Retained (Deficit) Earnings ( 450,484 ) ( 401,016 ) Total Shareholders' Deficit ( 196,515 ) ( 363,953 ) Total Liabilities and Shareholders' Deficit $ 1,685 $ 415 The accompanying notes are an integral part of these condensed financial statements 2 GLOBAL INNOVATIVE PLATFORMS, INC. CONDENSED STATEMENTS OF OPERATIONS ( UNAUDITED ) FOR THE THREE MONTHS ENDED DECEMBER 31, 2023 FOR THE THREE MONTHS ENDED DECEMBER 31, 2022 REVENUE $ — $ — EXPENSES General and administrative expenses 49,469 87,166 Total Expenses 49,469 87,166 OPERATING LOSS ( 49,469 ) ( 87,166 ) OTHER INCOME (EXPENSE) — — Total Other Income (Expense) — — INCOME (LOSS) BEFORE TAXES ( 49,469 ) ( 87,166 ) TAXES — — NET INCOME (LOSS) $ ( 49,469 ) $ ( 87,166 ) Net Income (Loss) per Common Share: Basic and Diluted $ ( 0.002 ) $ ( 0.14 ) Weighted Average Common Shares Outstanding: Basic and Diluted 20,637,355 619,085 The accompanying notes are an integral part of these condens

Business

Business Global Innovative Platforms Inc., a Delaware corporation, ("Global Innovative Platforms," "Canning Street," "the Company," "We," "Us" or "Our') is a publicly quoted company in the business of measuring gas outflow in pets and agriculture for diagnosis treatment of illness. We are pursuing opportunities for growth and will seek capital in return for shares of our common stock to create value for our shareholders, although there is no guarantee that the Company will be able to successfully close such transactions. History Global Innovative Platforms Inc. f/k/a Canning Street Corporation or Canning Street was incorporated in Delaware on September 15, 2020. Effective September 30, 2020, following a corporate reorganization as described below (the "Holding Company Reorganization" or "the reverse recapitalization"), Canning Street became the reorganized successor to Alexandria Advantage Warranty Company, a publicly quoted holding company that ceased trading in 2016. Reorganization into a Holding Company Structure for Canning Street Corporation, reorganization successor to Alexandria Advantage Warranty Company. Effective September 29, 2020, Alexandria Advantage Warranty Company ("Alexandria Advantage Colorado'), a Colorado corporation, redomiciled to Delaware by merging with its wholly owned subsidiary, Alexandria Advantage Warranty Company ("Alexandria Advantage Delaware"), a Delaware corporation. Alexandria Advantage Colorado ceased to exist as an independent legal entity following its merger with Alexandria Advantage Delaware. Pursuant to the Delaware Holding Company formation statute, DGCL Section 251(g), Alexandria Advantage Delaware entered into an Agreement and Plan of Merger and Reorganization into a Holding Company with Canning Street Corporation ("Canning Street") and AAWC Corporation ("AAWC"), both wholly-owned subsidiaries of Alexandria Advantage Delaware, effective September 30, 2020. The Agreement and Plan of Merger and Reorganizati

Legal Proceedings

Legal Proceedings We were not no legal proceedings are pending or threatened. Contractual Obligations We are not party to any contractual obligations at this time other than our Patent and License Know-How Agreement with Defiant Technologies, Inc. entered into on August 18, 2023 . NOTE 7. SHAREHOLDERS' DEFICIT Preferred Stock As of December 31, 2023, we were authorized to issue 10,000,000 shares of preferred stock with a par value of $ 0.0001 . No shares of preferred stock were issued and outstanding during the three months ended December 31, 2023 or as of September 30, 2023. 11 GLOBAL INNOVATIVE PLATFORMS INC. Notes to the Condensed Financial Statements (Unaudited) No series of preferred stock or rights for preferred stock had been designated at December 31, 2023. Common Stock As of December 31, 2023, we were authorized to issue 1,990,000,000 shares of common stock with a par value of $ 0.0001 . As of September 30, 2023, 619,085 shares of common stock were issued and outstanding. 26,691,027 shares of common stock were issued during the three months ended December 31, 2023. Warrants No warrants were issued or outstanding during the three months ended December 31, 2023 or 2022. Stock Options We currently have no stock option plan. No stock options were issued or outstanding during the three months ended December 31, 2023 or 2022. NOTE 8. SUBSEQUENT EVENTS The Company evaluated subsequent events after December 31, 2023, in accordance with FASB ASC 855 Subsequent Events, through the date of the issuance of these financial statements and has determined there have been no subsequent events for which disclosure is required. 12

MANAGEMENT'S

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS The following discussion should be read in conjunction with our unaudited financial statements and notes thereto included herein. In connection with, and because we desire to take advantage of, the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995, we caution readers regarding certain forward looking statements in the following discussion and elsewhere in this report and in any other statement made by, or on our behalf, whether or not in future filings with the Securities and Exchange Commission. Forward-looking statements are Forward looking statements are necessarily based upon estimates and assumptions that are inherently subject to significant business, economic and competitive uncertainties and contingencies, many of which are beyond our control and many of which, with respect to future business decisions, are subject to change. These uncertainties and contingencies can affect actual results and could cause actual results to differ materially from those expressed in any forward looking statements made by, or on our behalf. We disclaim any obligation to update forward-looking

View Full Filing

View this 10-Q filing on SEC EDGAR