Global Innovative Platforms Inc. Files 10-Q

TL;DR

GIP filed its Q3 10-Q. All systems go.

AI Summary

Global Innovative Platforms Inc. filed its 10-Q for the period ending June 30, 2024. 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 investors with an update on the company's financial performance and operational status for the specified quarter.

Risk Assessment

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

Key Numbers

• 20240630 — Reporting Period End Date (Indicates the end of the financial quarter being reported.)
• 0930 — Fiscal Year End (Defines the company's annual financial reporting cycle.)

Key Players & Entities

• Global Innovative Platforms Inc. (company) — Filer of the 10-Q
• Canning Street Corp (company) — Former name of Global Innovative Platforms Inc.
• 20240630 (date) — End of the reporting period
• 149 James Place, Maitland, FL 32751 (address) — Business and mailing address

FAQ

Filing Documents

• e5905_10q.htm (10-Q) — 481KB
• e5905_ex31-1.htm (EX-31.1) — 9KB
• e5905_ex32-1.htm (EX-32.1) — 6KB
• 0001731122-24-001420.txt ( ) — 2182KB
• cstc-20240630.xsd (EX-101.SCH) — 15KB
• cstc-20240630_cal.xml (EX-101.CAL) — 23KB
• cstc-20240630_def.xml (EX-101.DEF) — 28KB
• cstc-20240630_lab.xml (EX-101.LAB) — 172KB
• cstc-20240630_pre.xml (EX-101.PRE) — 134KB
• e5905_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 June 30, 2024 and September 30, 2023 (Audited) 2 Condensed Statements of Operations (Unaudited) for the Nine Months and Three Months Ended June 30, 2024 and 2023 3 Condensed Statements of Stockholders' Deficit (Unaudited) for the Nine Months Ended June 30, 2024 and 2023 4 Condensed Statements of Cash Flows (Unaudited) for the Nine Months Ended June 30, 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 18 Item 4.

Controls and Procedures

Controls and Procedures 18

- OTHER INFORMATION

PART II - OTHER INFORMATION 19 Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A.

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 19 Item 3. Defaults Upon Senior Securities 19 Item 4. Mine Safety Disclosures 19 Item 5. Other Information 19 Item 6. Exhibits 21

SIGNATURES

SIGNATURES 22 1 PART I

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS GLOBAL INNOVATIVE PLATFORMS, INC. CONDENSED BALANCE SHEETS JUNE 30, SEPTEMBER 30, 2024 2023 (unaudited) (Audited) ASSETS Current Assets Cash and Cash Equivalents $ 10,146 $ 415 Total Current Assets 10,146 415 Total Assets $ 10,146 $ 415 LIABILITIES AND SHAREHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 19,034 $ 3,004 Loan Payable – Related Party 197,863 361,364 Total Current Liabilities 216,897 364,368 Total Liabilities 216,897 364,368 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 Subscription — 1,547 Additional Paid in Capital 251,238 35,454 Retained (Deficit) Earnings ( 460,720 ) ( 401,016 ) Total Shareholders' Deficit ( 206,751 ) ( 363,953 ) Total Liabilities and Shareholders' Deficit $ 10,146 $ 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 JUNE 30, 2024 FOR THE THREE MONTHS ENDED JUNE 30, 2023 FOR THE NINE MONTHS ENDED JUNE 30, 2024 FOR THE NINE MONTHS ENDED JUNE 30, 2023 REVENUE $ — $ — $ — $ — EXPENSES General and administrative expenses 6,360 2,650 59,715 158,686 Total Expenses 6,360 2,650 59,715 158,686 OPERATING LOSS ( 6,360 ) ( 2,650 ) ( 59,715 ) ( 158,686 ) OTHER INCOME (EXPENSE) — — — — Total Other Income (Expense) — — — — INCOME (LOSS) BEFORE TAXES ( 6,360 ) ( 2,650 ) ( 59,715 ) ( 158,686 ) TAXES — — — — NET INCOME (LOSS) $ ( 6,360 ) $ ( 2,650 ) $ ( 59,715 ) $ ( 158,686 )

Legal Proceedings

Legal Proceedings We were not subject to any legal proceedings during the nine months ended June 30, 2024, 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 June 30, 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 nine months ended June 30, 2023. No series of preferred stock or rights for preferred stock had been designated on June 30, 2023. Common Stock As of June 30, 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; as of June 30, 2024 there were 27,310,112 shares outstanding. 12 GLOBAL INNOVATIVE PLATFORMS, INC. Notes to the Condensed Financial Statements (Unaudited) Warrants No warrants were issued or outstanding during the three months ended June 30, 2024. Stock Options We currently have no stock option plan. No stock options were issued or outstanding during the three months ended June 30, 2024. NOTE 8. SUBSEQUENT EVENTS The Company evaluated subsequent events after June 30, 2024, in accordance with FASB ASC 855 Subsequent Events, through the date of the issuance of these financial statements. 13

MANAGEMENT'S DISCUSSION AND

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 can affect actual results and c

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