Global Interactive Technologies Files 8-K
Ticker: GITS · Form: 8-K · Filed: Jan 23, 2025 · CIK: 1911545
Sentiment: neutral
Topics: corporate-governance, filing, legal-update
TL;DR
Global Interactive Tech filed an 8-K on Jan 23, 2025, with changes to security holder rights and bylaws.
AI Summary
Global Interactive Technologies, Inc. filed an 8-K on January 23, 2025, reporting material modifications to security holder rights and amendments to its articles of incorporation or bylaws. The filing also includes Regulation FD disclosures and financial statements/exhibits. The company was formerly known as Hanryu Holdings, Inc. and changed its name on February 16, 2022.
Why It Matters
This filing indicates potential changes in the company's corporate structure or security holder agreements, which could impact investors' rights and the company's governance.
Risk Assessment
Risk Level: medium — Filings related to modifications of security holder rights and bylaws can indicate significant corporate changes that may affect the company's operations and stock value.
Key Numbers
- 001-41763 — Commission File Number (Identifies the company's filing with the SEC)
- 88-1368281 — IRS Number (Company's tax identification number)
Key Players & Entities
- Global Interactive Technologies, Inc. (company) — Registrant
- Hanryu Holdings, Inc. (company) — Former company name
- February 16, 2022 (date) — Date of name change
- January 23, 2025 (date) — Date of report
FAQ
What specific material modifications were made to the rights of security holders?
The filing indicates material modifications to the rights of security holders, but the specific details are not provided in this summary.
What amendments were made to the Articles of Incorporation or Bylaws?
The filing states amendments were made to the Articles of Incorporation or Bylaws, but the exact nature of these amendments is not detailed here.
What is the significance of the Regulation FD Disclosure?
Regulation FD disclosures ensure that material non-public information is broadly disseminated to the public, preventing selective disclosure.
When did Global Interactive Technologies, Inc. change its name from Hanryu Holdings, Inc.?
The company changed its name from Hanryu Holdings, Inc. on February 16, 2022.
What is the company's primary business activity?
The company is involved in Services-Computer Programming, Data Processing, etc., with a Standard Industrial Classification code of 7370.
Filing Stats: 1,164 words · 5 min read · ~4 pages · Grade level 12.3 · Accepted 2025-01-23 06:11:33
Key Financial Figures
- $0.001 — ch registered Common Stock, par value $0.001 per share GITS The Nasdaq Stock Mar
Filing Documents
- ea0228448-8k_global.htm (8-K) — 37KB
- ea022844801ex3-1_global.htm (EX-3.1) — 10KB
- ea022844801ex99-1_global.htm (EX-99.1) — 7KB
- 0001213900-25-005691.txt ( ) — 234KB
- gits-20250123.xsd (EX-101.SCH) — 3KB
- gits-20250123_lab.xml (EX-101.LAB) — 33KB
- gits-20250123_pre.xml (EX-101.PRE) — 22KB
- ea0228448-8k_global_htm.xml (XML) — 4KB
03 Amendments
Item 5.03 Amendments to Articles of Incorporation or Bylaws; Change in Fiscal Year. On January 10, 2025, the Company filed a Certificate of Amendment (the "Certificate of Amendment") to the Company's Amended and Restated Certificate of Incorporation, as previously amended ("Certificate of Incorporation"), with the Secretary of State of the State of Delaware, to effect a Reverse Stock Split of the Company's Common Stock, at a rate of 1-for-20 effective as of January 27, 2025. A copy of the Certificate of Amendment is attached hereto as Exhibit 3.1 and incorporated herein by reference. The description of the Certificate of Amendment and the Reverse Stock Split set forth in Item 3.03 of this Current Report is incorporated herein by reference. Prior to the filing of the Certificate of Amendment, the Company had 100,000,000 shares of Common Stock authorized, out of which 52,808,589 shares were issued and outstanding. As a result of the filing of the Certificate of Amendment, and the resulting effectiveness of the Reverse Stock Split, the 52,808,589 shares of the Company's Common Stock issued and outstanding immediately prior to the Reverse Stock Split, are being converted into approximately 2,640,429 shares of the Company's Common Stock. The Reverse Stock Split does not change the Company's current number of authorized shares of Common Stock, or its par value. The Reverse Stock Split also does not change the Company's authorized, or issued, and outstanding, number of shares of preferred stock, or its par value. Except for de minimis adjustments that result from the treatment of fractional shares, the Reverse Stock Split does not have any immediate dilutive effect on our stockholders, since each stockholders holds the same percentage of our Common Stock outstanding immediately following the Reverse Stock Split as such stockholder held immediately prior to the Reverse Stock Split. As a result of the Reverse Stock Split, the number of shares of the Company's Common St
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. On January 23, 2025, the Company issued a press release announcing the Reverse Stock Split. A copy of the press release is furnished as Exhibit 99.1 hereto and shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act, as amended ("Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Exchange Act or the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference in such a filing with the Securities and Exchange Commission. 1 Item9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 3.1 Certificate of Amendment 99.1 Press Release issued by Global Interactive Technologies, Inc. dated January 22, 2025 104 Cover Page Interactive Data File, formatted in Inline XBRL 2
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Global Interactive Technologies, Inc. By: /s/ Taehoon Kim Date: January 23, 2025 Name: Taehoon Kim Title: Chief Executive Officer 3