Global AI, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Global AI, Inc. has filed its 2023 annual report on Form 10-K, detailing its operations for the fiscal year ending September 30, 2023.</b>

AI Summary

Global AI, Inc. (GLAI) filed a Annual Report (10-K) with the SEC on February 8, 2024. Global AI, Inc. filed its annual report on Form 10-K for the fiscal year ended September 30, 2023. The company was formerly known as Wall Street Media Co, Inc., BRIGHT MOUNTAIN HOLDINGS, INC., and MY CATALOGS ONLINE, INC. Global AI, Inc. is incorporated in Nevada and its principal executive offices are located in Jupiter, Florida. The filing covers the fiscal year from October 1, 2022, to September 30, 2023. The Standard Industrial Classification code for the company is RETAIL-NONSTORE RETAILERS [5960].

Why It Matters

For investors and stakeholders tracking Global AI, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Global AI, Inc.'s financial performance, business operations, and risk factors for the fiscal year 2023, crucial for investors to assess the company's current standing and future prospects. Understanding the company's historical name changes and its classification as a non-store retailer offers context for its business model and market positioning.

Risk Assessment

Risk Level: low — Global AI, Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant financial disclosures or events that would suggest high risk.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion, and risk factors to understand Global AI, Inc.'s performance and outlook.

Key Numbers

• 2023-09-30 — Fiscal Year End (Fiscal year ended September 30, 2023)
• 2024-02-08 — Filing Date (Filed as of date)
• 333-163439 — SEC File Number (Commission file number)
• 26-4170100 — IRS Number (IRS Employer Identification No.)

Key Players & Entities

• Global AI, Inc. (company) — Exact name of registrant
• Wall Street Media Co, Inc. (company) — Former company name
• BRIGHT MOUNTAIN HOLDINGS, INC. (company) — Former company name
• MY CATALOGS ONLINE, INC. (company) — Former company name
• Nevada (jurisdiction) — State of incorporation
• Jupiter, FL (location) — Address of principal executive offices
• 561-240-0333 (phone_number) — Business phone number
• RETAIL-NONSTORE RETAILERS [5960] (industry) — Standard Industrial Classification

Forward-Looking Statements

• Increased scrutiny on related-party transactions will likely lead to questions from investors or analysts. (Global AI, Inc.) — medium confidence, target: 2024-05-08
• The company may need to provide further clarification on the nature and terms of the $1,000,000 common stock issuance to a related party. (Global AI, Inc.) — medium confidence, target: 2024-08-08

FAQ

Industry Context

Global AI, Inc. operates within the non-store retailers sector. This filing provides insights into its specific market niche and competitive landscape.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information to investors.

What Investors Should Do

1. Analyze the financial statements within the 10-K for revenue, net income, and balance sheet details.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing Global AI, Inc.
3. Examine the 'Management's Discussion and Analysis of Financial Condition and Results of Operations' for management's perspective on performance.

Key Dates

• 2023-09-30: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-02-08: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This is the annual report for the fiscal year ended September 30, 2023. Previous filings would provide comparative data for prior periods.

Key Financial Figures

• $0.0205 — ur common stock on the OTCQB, which was $0.0205 per share on March 31, 2023. As of Fe
• $0.001 — l of 24,944,466 shares of common stock, $0.001 per share of Global AI, Inc., represent
• $1,527,246 — ity. We had an accumulated deficit of $1,527,246 as of September 30, 2023, and we expect
• $0.5100 — ck has had a 52-week high sale price of $0.5100 and a low sale price of $0.0710. The ma
• $0.0710 — rice of $0.5100 and a low sale price of $0.0710. The market price of our common stock i
• $5.00 — aded stock with a per-share price below $5.00). Unless we obtain a per-share price ab
• $5 — nless we obtain a per-share price above $5.00, these rules impose additional sales

Filing Documents

• form10-k.htm (10-K) — 549KB
• ex31-1.htm (EX-31.1) — 10KB
• ex32-1.htm (EX-32.1) — 5KB
• 0001493152-24-005474.txt (&nbsp;) — 2253KB
• wsco-20230930.xsd (EX-101.SCH) — 16KB
• wsco-20230930_cal.xml (EX-101.CAL) — 29KB
• wsco-20230930_def.xml (EX-101.DEF) — 51KB
• wsco-20230930_lab.xml (EX-101.LAB) — 157KB
• wsco-20230930_pre.xml (EX-101.PRE) — 122KB
• form10-k_htm.xml (XML) — 167KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 1 Item 1B. Unresolved Staff Comments 8 Item 2.

Properties

Properties 8 Item 3.

Legal Proceedings

Legal Proceedings 8 Item 4. Mine Safety Disclosures 8 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 8 Item 6.

Selected Financial Data

Selected Financial Data 9 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operation 9 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 11 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 11 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 12 Item 9A.

Controls and Procedures

Controls and Procedures 12 Item 9B. Other Information 13 PART III Item 10. Directors, Executive Officers and Corporate Governance 13 Item 11.

Executive Compensation

Executive Compensation 14 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 14 Item 13. Certain Relationships and Related Transactions, and Director Independence 15 Item 14. Principal Accounting Fees and Services 15 PART IV Item 15. Exhibits and Financial Statement Schedules 16 Item 16. Form 10–K Summary 17

SIGNATURES

SIGNATURES 18 CERTAIN CAUTIONARY STATEMENTS REGARDING FORWARD-LOOKING INFORMATION Certain risks, uncertainties and other factors which may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. These "forward-looking statements" can be identified by use of terminology such as "believe", "hope", "may", "anticipate", "should", "intend", "plan", "will", "expect", "estimate", "project", "positioned", "strategy", and similar expressions. You should be aware that these forward-looking statements are subject to risks and uncertainties that are beyond our control. For a discussion of these risks, you should read this entire annual report on Form 10-K document carefully. Although management believes that the assumptions underlying the forward-looking statements are reasonable, they do not guarantee our future performance, and actual results could differ from those contemplated by these forward-looking estimates of future events and are subject to uncertainty as to possible changes in the economy, legislative changes, changes in the industry, technological developments and changes and other circumstances. As a result, the identification and interpretation of data and other information and their use in developing and selecting assumptions from and among reasonable alternatives require the exercise of judgment. To the extent that the assumed events do not occur, the outcome may vary substantially from anticipated or projected results, and, accordingly, no opinion is expressed on the achievability of those forward-looking statements. In the light of these risks and uncertainties, t

View Full Filing

View this 10-K filing on SEC EDGAR