Global AI, Inc. Files 10-Q for Q1 2024

TL;DR

Global AI, Inc. 10-Q filed. Q1 2024 update.

AI Summary

Global AI, Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Wall Street Media Co, Inc., is incorporated in Nevada and operates in the non-store retail sector. Its principal business address is in Jupiter, Florida.

Why It Matters

This filing provides investors with an update on Global AI, Inc.'s financial performance and operational status for the first quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not contain immediate, significant risk-related disclosures.

Key Numbers

• Q1 2024 — Reporting Period (The period covered by the 10-Q filing.)
• March 31, 2024 — Period End Date (The specific date marking the end of the reporting quarter.)
• May 17, 2024 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Global AI, Inc. (company) — Filer of the 10-Q
• Wall Street Media Co, Inc. (company) — Former name of Global AI, Inc.
• 20240331 (date) — End of reporting period
• 20240517 (date) — Filing date
• Jupiter, Florida (location) — Company's business address

FAQ

Key Financial Figures

• $0.001 — ich registered Common Stock par value $0.001 GLAI OTCQB Indicate by check mark
• $17,000 — months ended March 31, 2024 compared to $17,000 for the three-months ended March 31, 20
• $346,210 — nses increased by approximately 182% to $346,210 during the three months ended March 31,
• $18,071 — ths ended March 31, 2024 as compared to $18,071 for the three months ended March 31, 20
• $1,071 — 2024 from a net loss from operations of $1,071 for the three months ended March 31, 20
• $378,263 — t cash used in operating activities was $378,263 for the three months ended March 31, 20
• $6,421 — ths ended March 31, 2024 as compared to $6,421 for the three months ended March 31, 20
• $11,701 — As of March 31, 2024, the Company had $11,701 in cash. The Company has sustained loss
• $198,340 — ng capital deficit at March 31, 2024 of $198,340 with minimal revenues. The foregoing ra

Filing Documents

• form10-q.htm (10-Q) — 243KB
• ex31-1.htm (EX-31.1) — 12KB
• ex32-1.htm (EX-32.1) — 8KB
• 0001493152-24-020400.txt ( ) — 1393KB
• wsco-20240331.xsd (EX-101.SCH) — 12KB
• wsco-20240331_cal.xml (EX-101.CAL) — 20KB
• wsco-20240331_def.xml (EX-101.DEF) — 26KB
• wsco-20240331_lab.xml (EX-101.LAB) — 111KB
• wsco-20240331_pre.xml (EX-101.PRE) — 83KB
• form10-q_htm.xml (XML) — 87KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1

Financial Statements

Item 1. Financial Statements 1 Condensed Balance Sheets - Unaudited 1 Condensed Statements of Operations - Unaudited 2 Condensed Statement of Changes in Stockholders' Deficit - Unaudited 3 Condensed Statements of Cash Flows - Unaudited 5 Notes to Condensed Financial Statements - Unaudited 6

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 8

Quantitative and Qualitative Disclosure About Market Risk

Item 3. Quantitative and Qualitative Disclosure About Market Risk. 9

Controls and Procedures

Item 4. Controls and Procedures. 9

- OTHER INFORMATION

PART II - OTHER INFORMATION 10

Legal Proceedings

Item 1. Legal Proceedings. 10

Risk Factors

Item 1A. Risk Factors. 10

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds. 10

Defaults upon Senior Securities

Item 3. Defaults upon Senior Securities. 10

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 10

Other Information

Item 5. Other Information. 10

SIGNATURES

SIGNATURES 11 i PART I - FINANCIAL INFORMATION Item 1. Financial Statements GLOBAL AI, INC. Condensed Balance Sheets (Unaudited) March 31, 2024 December 31, 2023 ASSETS Current Assets Cash $ 11,701 $ 183,964 Prepaid expenses 1,095 1,095 Total current assets 12,796 185,059 Total Assets $ 12,796 $ 185,059 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts Payable $ 201,911 $ 232,089 Payroll Taxes Payable 9,225 5,100 Total current liabilities 211,136 237,189 Total Liabilities 211,136 237,189 Commitments and Contingencies (Note 4) - - Stockholders' Deficit Preferred stock, $ 0.001 par value; 5,000,000 authorized; none issued or outstanding - - Common stock, $ 0.001 par value; 250,000,000 shares authorized; 154,348,024 issued and outstanding at March 31, 2024 and December 31, 2023, respectively 154,348 154,348 Additional paid-in capital 2,044,915 1,844,915 Accumulated deficit ( 2,397,603 ) ( 2,051,393 ) Total stockholders' deficit ( 198,340 ) ( 52,130 ) Total Liabilities and Stockholders' Deficit $ 12,796 $ 185,059 The accompanying notes are an integral part of these unaudited condensed financial statements. 1 GLOBAL AI, INC. Condensed (Unaudited) March 31, 2024 March 31, 2023 For the three months ended March 31, 2024 March 31, 2023 Revenues: Contracted services-related party $ - $ 17,000 Total Revenues - 17,000 Operating Expenses: General and administrative 148,108 6,758 Professional fees 198,102 11,313 Total Operating Expenses 346,210 18,071 Income (Loss) From Operations ( 346,210 ) ( 1,071 ) Other Expense Interest expense-related party - ( 941 ) Total Other Expense - ( 941 ) Net income (loss) $ ( 346,210 ) $ ( 2,012 ) Net income (loss) per share - basic and diluted $ ( 0.00 ) $ ( 0.00 ) Weighted average number of common shares - Basic and Diluted 154,348,024 107,688,024 The

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, thereunto duly authorized. Global AI, Inc. Date: May 17, 2024 By: /s/ Nevenka Cresnar Pergar Nevenka Cresnar Pergar Acting Interim President and Chief Executive Officer (principal executive officer and principal financial officer) 11

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View this 10-Q filing on SEC EDGAR