Global Innovative Platforms Inc. Files 10-Q

TL;DR

GIP filed its Q2 10-Q. Financials are in.

AI Summary

Global Innovative Platforms Inc. filed a 10-Q for the period ending March 31, 2024. The company, formerly known as Canning Street Corp, is incorporated in Delaware and operates in Real Estate & Construction. Their fiscal year ends on September 30th, and their principal business address is in Maitland, Florida.

Why It Matters

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

Risk Assessment

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

Key Numbers

• 20240331 — Reporting Period End Date (The end of the fiscal quarter being reported.)
• 20240905 — Filing Date (The date the 10-Q was officially filed with the SEC.)
• 0930 — Fiscal Year End (Indicates when the company's fiscal year concludes.)

Key Players & Entities

• Global Innovative Platforms Inc. (company) — Filer
• Canning Street Corp (company) — Former company name
• 321-230-3739 (phone_number) — Business phone number
• 000-56235 (filing_id) — SEC File Number

FAQ

Filing Documents

• e5904_10q.htm (10-Q) — 445KB
• e5904_ex31-1.htm (EX-31.1) — 9KB
• e5904_ex32-1.htm (EX-32.1) — 6KB
• 0001731122-24-001352.txt ( ) — 2151KB
• cstc-20240331.xsd (EX-101.SCH) — 16KB
• cstc-20240331_cal.xml (EX-101.CAL) — 23KB
• cstc-20240331_def.xml (EX-101.DEF) — 28KB
• cstc-20240331_lab.xml (EX-101.LAB) — 173KB
• cstc-20240331_pre.xml (EX-101.PRE) — 134KB
• e5904_10q_htm.xml (XML) — 178KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Page Item 1.

Financial Statements

Financial Statements 2 Condensed Balance Sheets (Unaudited) as of March 31, 2024 and September 30, 2023 (Audited) 2 Condensed Statements of Operations (Unaudited) for the Six Months and Three Months Ended March 31, 2024 and 2023 3 Condensed Statements of Stockholders' Deficit (Unaudited) for the Six Months Ended March 31, 2024 and 2023 4 Condensed Statements of Cash Flows (Unaudited) for the Six Months Ended March 31, 2024 and 2023 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 14 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17

- OTHER INFORMATION

PART II - OTHER INFORMATION 18 Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 19 Item 6. Exhibits 20

SIGNATURES

SIGNATURES 21 1 PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS GLOBAL INNOVATIVE PLATFORMS, INC. CONDENSED BALANCE SHEETS MARCH 31, SEPTEMBER 30, 2024 2023 (unaudited) (Audited) ASSETS Current Assets Cash and Cash Equivalents $ 596 $ 415 Total Current Assets 596 415 Total Assets $ 596 $ 415 LIABILITIES AND SHAREHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 13,134 $ 3,004 Loan Payable – Related Party 187,863 361,364 Total Current Liabilities 200,997 364,368 Total Liabilities 200,997 364,368 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, at March 31, 2024 and September 30, 2023, respectively 2,731 62 Additional Paid in Capital 251,238 35,454 Stock Subscriptions — 1,574 Retained (Deficit) Earnings ( 454,371 ) ( 401,016 ) Total Shareholders' Deficit ( 200,402 ) ( 363,953 ) Total Liabilities and Shareholders' Deficit $ 596 $ 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 MARCH 31, 2024 FOR THE THREE MONTHS ENDED MARCH 31, 2023 FOR THE SIX MONTHS ENDED MARCH 31, 2024 FOR THE SIX MONTHS ENDED MARCH 31, 2023 REVENUE $ — $ — $ — $ — EXPENSES General and administrative expenses 3,887 68,870 53,355 156,036 Total Expenses 3,887 68,870 53,355 156,036 OPERATING LOSS ( 3,887 ) ( 68,870 ) ( 53,355 ) ( 156,036 ) OTHER INCOME (EXPENSE) — — — — Total Other Income (Expense) — — — — INCOME (LOSS) BEFORE TAXES ( 3,887 ) ( 68,870 ) ( 53,355 ) ( 156,036 ) TAXES — — — — NET INCOME (LOSS) $ ( 3,887 ) $ ( 68,870 ) $ ( 53,355 ) $ ( 156,036 ) Net Income (Loss) per Common Share: Basic and Dil

Legal Proceedings

Legal Proceedings We were not subject to any legal proceedings during the six months ended March 31, 2024 and 2023, and, to the best of our knowledge, 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 March 31, 2024, 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 March 31, 2024. No series of preferred stock or rights for preferred stock had been designated on March 31, 2024. Common Stock As of March 31, 2024, 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, and 26,691,027 shares of common stock were issued during the six months ended March 31, 2024. 12 GLOBAL INNOVATIVE PLATFORMS, INC. Notes to the Condensed Financial Statements (Unaudited) Warrants No warrants were issued or outstanding during the three months ended March 31, 2024. Stock Options We currently have no stock option plan. No stock options were issued or outstanding during the three months ended March 31, 2024. NOTE 8. SUBSEQUENT EVENTS The Company evaluated subsequent events after March 31, 2024, 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. 13 .

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION

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 statements not based on historical information and which relate to future operations, strategies, financial results, or other developments. 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

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