Greenlit Ventures Narrows Losses by 82% Amid Zero Revenue, Going Concern Doubts

TL;DR

**GLVT is a zero-revenue, zero-cash penny stock with a 'going concern' warning; steer clear unless you're a high-risk speculator betting on a miracle.**

AI Summary

Greenlit Ventures Inc. (GLVT) reported a net loss of $38,999 for the nine months ended September 30, 2025, a significant improvement from the $218,892 net loss in the same period of 2024. This 82.2% reduction in net loss was primarily driven by a decrease in total operating expenses, which fell from $210,069 in 2024 to $28,451 in 2025, largely due to the absence of $175,000 in stock-based compensation to related parties in 2025. The company continues to operate with no revenue and zero cash, maintaining a total asset base of $0. Total liabilities increased to $227,944 as of September 30, 2025, up from $188,945 at December 31, 2024, mainly due to an increase in convertible notes payable to $191,001 and accrued interest to $30,381. GLVT's accumulated deficit grew to $762,159, and the company explicitly states substantial doubt about its ability to continue as a going concern without additional funding. The strategic outlook involves seeking additional financing and implementing new business models, including its ForceShield Mail and VPN services launched in late 2021.

Why It Matters

For investors, GLVT's continued lack of revenue and reliance on convertible notes for operating expenses signals extreme risk, despite the reduced net loss. The 'going concern' warning is a critical red flag, indicating that the company's survival is highly uncertain without external capital. Employees face job insecurity given the company's precarious financial state and zero cash. Customers of ForceShield Mail and VPN services should be aware of the company's instability, which could impact service continuity and data security. In the broader market, GLVT exemplifies the challenges faced by micro-cap companies attempting to pivot into competitive tech sectors like cybersecurity without a clear path to profitability or substantial funding, highlighting the importance of due diligence beyond headline loss reductions.

Risk Assessment

Risk Level: high — The company explicitly states 'substantial doubt about our ability to continue as a going concern' due to 'minimal revenue since inception to date and accumulated deficit of $762,159'. Furthermore, GLVT has $0 in cash and total assets, indicating a complete lack of liquidity and operational capital, making it highly dependent on external financing which is not assured.

Analyst Insight

Investors should avoid GLVT given its 'going concern' warning, zero revenue, and zero cash. The company's reliance on convertible notes to cover operating expenses is unsustainable. Only highly speculative investors with a high-risk tolerance might consider this stock, but even then, the fundamental risks are overwhelming.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$0

total Debt

$227,944

net Income

$-38,999

eps

$-0.01

gross Margin

N/A

cash Position

$0

revenue Growth

N/A

Key Numbers

• $38,999 — Net Loss for Nine Months Ended Sep 30, 2025 (82.2% decrease from $218,892 in the prior year period)
• $0 — Cash and Cash Equivalents (as of September 30, 2025 and December 31, 2024, indicating no liquidity)
• $0 — Total Assets (as of September 30, 2025 and December 31, 2024)
• $227,944 — Total Liabilities (as of September 30, 2025, up from $188,945 at December 31, 2024)
• $191,001 — Convertible Note Payable (as of September 30, 2025, up from $163,320 at December 31, 2024)
• $762,159 — Accumulated Deficit (as of September 30, 2025, indicating significant historical losses)
• 4,082,479 — Common Shares Outstanding (as of October 14, 2025)
• $175,000 — Stock-based compensation - related party (recorded in 2024, but $0 in 2025, contributing to reduced operating expenses)

Key Players & Entities

• Greenlit Ventures Inc. (company) — registrant of the 10-Q filing
• 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 Corporation (company) — former name of Greenlit Ventures Inc.
• ForceShield Mail (company) — encryption industry product launched by Greenlit Ventures Inc.
• ForceShield VPN (company) — encrypted VPN service launched by Greenlit Ventures Inc.
• Securities and Exchange Commission (regulator) — filing recipient
• Delaware (regulator) — state of incorporation

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company has accumulated a significant deficit of $762,159 as of September 30, 2025, and explicitly states substantial doubt about its ability to continue as a going concern without additional funding. With zero cash and total assets of $0, the company's ability to meet its obligations is highly dependent on securing new financing.
• Increasing Liabilities [medium — financial]: Total liabilities have increased to $227,944 as of September 30, 2025, up from $188,945 at December 31, 2024. This increase is primarily driven by a rise in convertible notes payable to $191,001 and accrued interest to $30,381, indicating growing debt obligations.
• Lack of Revenue and Liquidity [high — operational]: Greenlit Ventures Inc. continues to operate with no revenue and zero cash. This lack of operational income and liquidity poses a significant risk to its ability to fund ongoing operations and meet short-term obligations.
• Dependence on Future Financing [high — financial]: The company's strategic outlook relies heavily on seeking additional financing. Without successful fundraising, GLVT will likely be unable to continue its operations or implement its planned business models.

Industry Context

Greenlit Ventures Inc. operates in a highly competitive technology landscape, with its legacy services like ForceShield Mail and VPN facing established players. The company's current financial distress and lack of revenue suggest a challenging market position and difficulty in gaining traction against competitors with more substantial resources and market share.

Regulatory Implications

As a company with significant financial distress and potential going concern issues, GLVT may face increased scrutiny from regulatory bodies. Compliance with financial reporting standards and timely disclosure of material events are critical to maintaining investor confidence and avoiding potential sanctions.

What Investors Should Do

1. Monitor financing activities closely.
2. Evaluate the viability of new business models.
3. Assess dilution risk from convertible notes.

Key Dates

• 2021-12-31: Launch of ForceShield Mail and VPN services — Represents the company's attempt to diversify and generate revenue through new business models.
• 2024-09-30: Nine months ended, reported net loss of $218,892 — Provides a comparative baseline for the current period's improved net loss.
• 2025-09-30: Nine months ended, reported net loss of $38,999 — Shows a significant reduction in net loss, primarily due to reduced operating expenses.
• 2025-09-30: Total Liabilities of $227,944 — Indicates an increase in financial obligations compared to December 31, 2024.
• 2025-10-14: Common Shares Outstanding: 4,082,479 — Provides the current share count for potential dilution analysis.

Glossary

Accumulated deficit

The total net losses of a company that have not been offset by net income since its inception. (Indicates the company's historical unprofitability, standing at $762,159 as of September 30, 2025.)

Convertible note payable

A type of debt that can be converted into equity (stock) of the issuing company under certain conditions. (Represents a significant portion of GLVT's liabilities, increasing to $191,001, and carries the potential for future dilution.)

Going concern

An assumption that a company will continue to operate for the foreseeable future, typically at least the next 12 months. (The company explicitly states substantial doubt about its ability to continue as a going concern, highlighting severe financial distress.)

Stock-based compensation

Compensation provided to employees or related parties in the form of stock or stock options. (The absence of $175,000 in stock-based compensation to related parties in 2025 was a key factor in reducing operating expenses and net loss.)

Year-Over-Year Comparison

Compared to the nine months ended September 30, 2024, Greenlit Ventures Inc. has significantly reduced its net loss from $218,892 to $38,999, an 82.2% improvement. This was primarily driven by a drastic reduction in operating expenses, notably the absence of $175,000 in stock-based compensation to related parties in the current period. However, total assets remain at $0, cash is $0, and total liabilities have increased to $227,944, indicating persistent financial challenges despite the improved net loss.

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) — 444KB
• msyn_ex311.htm (EX-31.1) — 10KB
• msyn_ex321.htm (EX-32.1) — 4KB
• 0001640334-25-001952.txt ( ) — 1901KB
• msyn-20250930.xsd (EX-101.SCH) — 20KB
• msyn-20250930_lab.xml (EX-101.LAB) — 114KB
• msyn-20250930_cal.xml (EX-101.CAL) — 18KB
• msyn-20250930_pre.xml (EX-101.PRE) — 94KB
• msyn-20250930_def.xml (EX-101.DEF) — 38KB
• msyn_10q_htm.xml (XML) — 221KB

- 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 13 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 17 Item 4.

Controls and Procedures

Controls and Procedures 17

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 18 Item 1A.

Risk Factors

Risk Factors 18 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18 Item 3. Defaults Upon Senior Securities 18 Item 4. Mine Safety Disclosures 18 Item 5. Other Information 18 Item 6. Exhibits 19

SIGNATURES

SIGNATURES 20 2 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements GREENLIT VENTURES INC. Condensed Balance Sheets September 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 $ 6,562 $ 5,793 Accrued interest 30,381 19,832 Total Current Liabilities 36,943 25,625 Convertible note payable, net of debt discount 191,001 163,320 Total Liabilities 227,944 188,945 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 ( 762,159 ) ( 723,160 ) Total Stockholders' Deficit ( 227,944 ) ( 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 Nine Months Ended September 30, September 30, 2025 2024 2025 2024 OPERATING EXPENSES Professional fees $ 5,583 $ 3,976 $ 28,451 $ 35,069 Professional fees - related party (including stock-based compensation of $0 and $175,000, respectively) - - - 175,000 Total Operating Expenses 5,583 3,976 28,451 210,069 OTHER EXPENSE Interest expense ( 3,788 ) ( 3,152 ) ( 10,548 ) ( 8,823 ) ( 3,788 ) ( 3,152 ) ( 10,548 ) ( 8,823 ) NET LOSS $ ( 9,371 ) $ ( 7,128 ) $ ( 38,999 ) $ ( 218,892 ) NET LOSS PER SHARE: BASIC AND DILUTED $ ( 0.00 ) $ ( 0.00 ) $ ( 0.01 ) $ ( 0.07 ) WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED 4,082,479 4,082,479 4,082,479 3,036

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 a

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