Greenlit Ventures Piles on Convertible Debt, Reports No Revenue

TL;DR

GLVT is a pre-revenue shell company loading up on dilutive debt; avoid at all costs.

AI Summary

GREENLIT VENTURES INC. (GLVT) reported no revenue for the six months ended June 30, 2025, consistent with its prior period. The company's net income is not explicitly stated, but the filing primarily details changes in its convertible notes payable. As of June 30, 2025, convertible notes payable stood at $4,082,479, an increase from the $0 reported at December 31, 2024, indicating significant new debt financing. This increase is attributed to new convertible notes issued during the first six months of 2025, including those maturing on December 31, 2027. The company's strategic outlook appears focused on securing financing through these convertible instruments, as no operational business changes or revenue-generating activities are detailed. Key risks include the reliance on debt financing and the potential for dilution from future conversions of these notes. The company's business address is in Luohu, Shenzhen, China, and its primary business is management consulting services, though no related revenue was generated.

Why It Matters

For investors, GLVT's complete reliance on convertible debt, totaling $4,082,479 by June 30, 2025, without any revenue generation, signals extreme risk and potential for significant dilution. Employees and customers are largely unaffected as the company appears to be in a pre-revenue or dormant operational state. In a competitive context, this filing suggests GLVT is far behind peers in the management consulting sector, which typically generate substantial revenue. The broader market impact is minimal due to GLVT's small scale, but it serves as a cautionary tale regarding speculative micro-cap investments.

Risk Assessment

Risk Level: high — The risk level is high because GREENLIT VENTURES INC. reported $0 in revenue for the six months ended June 30, 2025, while simultaneously increasing its convertible notes payable to $4,082,479 from $0 at December 31, 2024. This indicates a complete reliance on debt financing without any operational income, making the company highly speculative and prone to significant dilution.

Analyst Insight

Investors should avoid GREENLIT VENTURES INC. given its lack of revenue and increasing convertible debt. This company presents an extremely high-risk profile with no clear path to profitability or return on investment.

Financial Highlights

revenue

$0

total Debt

$4,082,479

revenue Growth

0.00%

Revenue Breakdown

Key Numbers

• $0 — Revenue (for the six months ended June 30, 2025, indicating no operational income.)
• $4,082,479 — Convertible Notes Payable (as of June 30, 2025, a significant increase from $0 at December 31, 2024, showing reliance on debt.)
• 2027-12-31 — Convertible Note Maturity Date (indicating the long-term nature of some of the debt obligations.)

Key Players & Entities

• GREENLIT VENTURES INC. (company) — filer of the 10-Q
• $4,082,479 (dollar_amount) — convertible notes payable as of June 30, 2025
• December 31, 2024 (date) — prior period end for convertible notes payable comparison
• June 30, 2025 (date) — end of the reporting period for the 10-Q
• Luohu, Shenzhen, China (location) — business address of GREENLIT VENTURES INC.
• MS YOUNG ADVENTURE ENTERPRISE, INC. (company) — former name of GREENLIT VENTURES INC.
• AllyMe Holding Inc. (company) — former name of GREENLIT VENTURES INC.
• Rain Sound Acquisition Corp (company) — former name of GREENLIT VENTURES INC.
• SEC (regulator) — recipient of the 10-Q filing

FAQ

Risk Factors

• Reliance on Debt Financing [high — financial]: The company has taken on $4,082,479 in convertible notes payable as of June 30, 2025, with no revenue generated. This significant debt burden indicates a heavy reliance on external financing rather than operational income.
• Potential for Dilution [medium — financial]: The issuance of convertible notes payable, totaling $4,082,479 as of June 30, 2025, carries the inherent risk of future equity dilution. Conversion of these notes into common stock could significantly dilute existing shareholders' ownership.
• Lack of Revenue Generation [high — operational]: GREENLIT VENTURES INC. reported $0 revenue for the six months ended June 30, 2025. This persistent lack of operational income raises concerns about the company's ability to generate sustainable business value.
• Uncertainty of Business Model [medium — operational]: Despite stating its primary business as management consulting services, the company has not generated any revenue from this segment. The lack of demonstrated business traction creates uncertainty about its future viability.

Industry Context

GREENLIT VENTURES INC. operates in the management consulting services sector. This industry is typically characterized by a focus on providing expert advice to businesses to improve their performance. However, the company's current lack of revenue suggests it is not yet effectively competing or operating within this sector.

Regulatory Implications

As a U.S. public company, GREENLIT VENTURES INC. is subject to SEC regulations, including timely filing of reports like this 10-Q. The significant increase in convertible debt and lack of revenue could attract scrutiny regarding financial stability and disclosure.

What Investors Should Do

1. Monitor future filings for revenue generation.
2. Assess the terms and conversion implications of convertible notes.
3. Evaluate the company's strategic plan for generating revenue.

Key Dates

• 2025-06-30: End of Reporting Period — Represents the period for which the 10-Q filing provides financial data, showing $0 revenue and $4,082,479 in convertible notes payable.
• 2025-08-12: Filing Date of 10-Q — Indicates the date the company submitted its quarterly report to the SEC, making the financial information publicly available.
• 2027-12-31: Convertible Note Maturity Date — Marks the maturity date for some of the newly issued convertible notes, highlighting the long-term nature of the company's debt obligations.
• 2024-12-31: Prior Fiscal Year End — Provides a comparison point for the current period's financial status, notably showing $0 convertible notes payable at this date.

Glossary

Convertible Notes Payable

Debt instruments that can be converted into a predetermined amount of the issuer's equity at the option of the holder. They represent a form of financing that can lead to future dilution. (This is the primary financial instrument detailed in the filing, showing a significant increase to $4,082,479 as of June 30, 2025, indicating the company's reliance on debt financing.)

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC) that provides a comprehensive update on a company's financial performance and condition. (This filing details GREENLIT VENTURES INC.'s financial status for the period ending June 30, 2025, highlighting its lack of revenue and significant debt.)

Dilution

The reduction in the ownership percentage of a shareholder resulting from the issuance of new shares or the conversion of convertible securities. (A key risk for GREENLIT VENTURES INC. investors, as the conversion of its convertible notes payable could decrease their stake in the company.)

Year-Over-Year Comparison

Compared to the prior period (likely December 31, 2024, where convertible notes payable were $0), GREENLIT VENTURES INC. has significantly increased its debt by $4,082,479 through the issuance of convertible notes. Revenue remains at $0 for the six months ended June 30, 2025, consistent with the prior period. No new risks are explicitly detailed, but the increased reliance on debt financing and potential for dilution are amplified.

Key Financial Figures

• $0.0001 — ich registered Common Stock, par value $0.0001 GLVT None Indicate by check mark
• $0 — (including stock-based compensation of $0 and $175,000, respectively) - - -
• $175,000 — ding stock-based compensation of $0 and $175,000, respectively) - - - 175,000 T

Filing Documents

• msyn_10q.htm (10-Q) — 415KB
• msyn_ex311.htm (EX-31.1) — 12KB
• msyn_ex321.htm (EX-32.1) — 4KB
• 0001640334-25-001417.txt ( ) — 1863KB
• msyn-20250630.xsd (EX-101.SCH) — 20KB
• msyn-20250630_lab.xml (EX-101.LAB) — 116KB
• msyn-20250630_cal.xml (EX-101.CAL) — 18KB
• msyn-20250630_pre.xml (EX-101.PRE) — 95KB
• msyn-20250630_def.xml (EX-101.DEF) — 37KB
• msyn_10q_htm.xml (XML) — 206KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 3 Item 2.

Management's Discussion and Analysis of Financial Condition or Plan of Operation

Management's Discussion and Analysis of Financial Condition or Plan of Operation 12 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 15 Item 4.

Controls and Procedures

Controls and Procedures 15

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 16 Item 1A.

Risk Factors

Risk Factors 16 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 16 Item 3. Defaults Upon Senior Securities 16 Item 4. Mine Safety Disclosures 16 Item 5. Other Information 16 Item 6. Exhibits 17

SIGNATURES

SIGNATURES 18 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements GREENLIT VENTURES INC. Condensed Balance Sheets June 30, 2025 December 31, 2024 (Unaudited) (Audited) ASSETS Current Assets Cash $ - $ - Total Current Assets - - TOTAL ASSETS $ - $ - LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities Accounts payable and accrued liabilities $ 6,678 $ 5,793 Accrued interest 26,592 19,832 Total Current Liabilities 33,270 25,625 Convertible note payable, net of debt discount 185,303 163,320 Total Liabilities 218,573 188,945 Stockholders' Deficit Preferred stock, par value $ 0.0001 ; 20,000,000 shares authorized, none shares issued and outstanding - - Common stock, par value $ 0.0001 ; 100,000,000 shares authorized, 4,082,479 shares issued and outstanding 408 408 Additional paid-in capital 533,807 533,807 Accumulated deficit ( 752,788 ) ( 723,160 ) Total Stockholders' Deficit ( 218,573 ) ( 188,945 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ - $ - The accompanying notes are an integral part of these unaudited condensed financial statements 3 Table of Contents GREENLIT VENTURES INC. Condensed Statements of Operations (Unaudited) Three Months Ended Six Months Ended June 30, June 30, 2025 2024 2025 2024 OPERATING EXPENSES Professional fees $ 5,432 $ 15,303 $ 22,868 $ 31,093 Professional fees - related party (including stock-based compensation of $0 and $175,000, respectively) - - - 175,000 Total Operating Expenses 5,432 15,303 22,868 206,093 OTHER EXPENSE Interest expense ( 3,493 ) ( 2,808 ) ( 6,760 ) ( 5,671 ) ( 3,493 ) ( 2,808 ) ( 6,760 ) ( 5,671 ) NET LOSS $ ( 8,925 ) $ ( 18,111 ) $ ( 29,628 ) $ ( 211,764 ) NET LOSS PER SHARE: BASIC AND DILUTED $ ( 0.00 ) $ ( 0.00 ) $ ( 0.01 ) $ ( 0.08 ) WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED 4,082,479 4,082,479 4,082,479 2,505,150 The accompan

Management's Discussion and Analysis of Financial Condition or Plan of Operation

Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This quarterly report contains forward-looking statements relating to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "intends", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors which may cause our or our industry's actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results, later events or circumstances or to reflect the occurrence of unanticipated events. In this report unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "common shares" refer to the common shares of our capital stock. The management's discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP"). As used in this quarterly report, the terms "we", "us", "our", and "our company

View Full Filing

View this 10-Q filing on SEC EDGAR