Global-Smart.Tech Amends 10-K for Audit Date Correction, 'Going Concern' Remains

TL;DR

**GSMT's 10-K/A fixes an audit date, but the 'going concern' warning screams financial distress – steer clear.**

AI Summary

Global-Smart.Tech Inc. (GSMT) filed a 10-K/A on September 3, 2025, solely to correct an error in the dates audited within the independent accountants' report for the fiscal year ended May 31, 2025. The corrected opinion from Mac Accounting Group & CPAs, LLP now explicitly states they audited the balance sheets as of May 31, 2025 and 2024, and related statements for the years then ended, confirming fair presentation in all material respects. Despite the corrected audit opinion, the filing highlights a significant 'going concern' issue, noting GSMT has an accumulated deficit, uses cash in operations, and experiences recurring losses, raising substantial doubt about its ability to continue. The company's common stock, with a par value of $0.001, had 6,134,780 shares outstanding as of August 29, 2025, but there was no established public trading market for it as of May 31, 2025. This amendment does not update for events subsequent to the original August 29, 2025 filing date.

Why It Matters

This 10-K/A filing is critical for investors as it clarifies the audit scope for Global-Smart.Tech Inc.'s financial statements, ensuring the independent accountants' report accurately covers the fiscal years ended May 31, 2025 and 2024. However, the persistent 'going concern' warning, citing an accumulated deficit and recurring losses, signals severe financial instability, making GSMT a high-risk investment. For employees and customers, this raises questions about the company's long-term viability and operational continuity. In a competitive tech landscape, a company facing such fundamental financial challenges will struggle to innovate or maintain market share against more stable rivals.

Risk Assessment

Risk Level: high — The risk level is high due to the explicit 'going concern' warning from the independent auditors, Mac Accounting Group & CPAs, LLP. This indicates Global-Smart.Tech Inc. has an accumulated deficit, uses cash in operations, and has recurring losses, which collectively 'raise substantial doubt about its ability to continue as a going concern.' The absence of a public trading market for its common stock as of May 31, 2025, further exacerbates liquidity and valuation risks.

Analyst Insight

Investors should exercise extreme caution and likely avoid Global-Smart.Tech Inc. given the severe 'going concern' warning and lack of a public trading market. This filing primarily corrects an audit date, but the underlying financial instability remains a critical red flag, suggesting significant risk of capital loss.

Key Numbers

• 6,134,780 — Common Stock Outstanding (As of August 29, 2025, indicating the number of shares without a public trading market.)
• $0.001 — Common Stock Par Value (The stated par value per share of Global-Smart.Tech Inc.'s common stock.)
• 2025-05-31 — Fiscal Year End (The fiscal year for which the 10-K/A provides corrected audited financial statements.)
• 2025-08-29 — Original Filing Date (Date of the original 10-K filing before this amendment.)
• 2025-09-03 — Amendment Filing Date (Date this 10-K/A was filed.)

Key Players & Entities

• Global-Smart.Tech Inc. (company) — Registrant
• Mac Accounting Group & CPAs, LLP (company) — Independent Registered Public Accounting Firm
• Yehor Rodin (person) — President, Secretary, Treasurer, Director (Principal Executive, Financial and Accounting Officer)
• SEC (regulator) — Securities and Exchange Commission
• PCAOB (regulator) — Public Company Accounting Oversight Board
• $0.001 (dollar_amount) — Par value of common stock

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: GSMT faces substantial doubt about its ability to continue as a going concern due to an accumulated deficit, negative cash flow from operations, and recurring losses. The financial statements do not include adjustments for potential outcomes of this uncertainty.

Industry Context

The filing provides no specific industry context for Global-Smart.Tech Inc. The company operates in a sector where technological innovation and market adoption are critical. However, without further details on its specific market niche or competitive landscape, a precise industry analysis is not possible from this document alone.

Regulatory Implications

The primary regulatory implication is the requirement for accurate financial reporting, as demonstrated by this 10-K/A filing. The disclosure of a going concern issue is a critical regulatory requirement that alerts investors to significant financial risks. Failure to comply with PCAOB auditing standards, as noted in the auditor's report, could lead to further scrutiny.

What Investors Should Do

1. Review Note 2 of the financial statements.
2. Assess the company's ability to secure future funding or achieve profitability.
3. Monitor future filings for updates on operational performance and financial health.

Key Dates

• 2024-05-31: Balance Sheet Date — Represents the prior year's financial position as audited by Mac Accounting Group & CPAs, LLP.
• 2025-05-31: Fiscal Year End and Balance Sheet Date — The end of the fiscal year for which the corrected financial statements and audit opinion are provided.
• 2025-08-29: Original 10-K Filing Date — The date the initial annual report was filed before the amendment.
• 2025-09-03: 10-K/A Amendment Filing Date — The date this amended filing was submitted to correct the independent accountants' report.

Glossary

10-K/A

An amended annual report filed with the SEC to correct previously filed information. (This filing is an amendment to correct an error in the original 10-K.)

Going Concern

An accounting assumption that a company will continue to operate for the foreseeable future. If substantial doubt exists, it must be disclosed. (GSMT's financial statements explicitly raise substantial doubt about its ability to continue as a going concern.)

Accumulated Deficit

The cumulative net losses of a company since its inception that have not been offset by profits or capital contributions. (A key factor contributing to the going concern uncertainty for GSMT.)

PCAOB

Public Company Accounting Oversight Board. A non-profit corporation established by Congress to oversee the audits of public companies. (The auditor, Mac Accounting Group & CPAs, LLP, is registered with the PCAOB and conducted audits in accordance with its standards.)

Year-Over-Year Comparison

This 10-K/A is an amendment solely to correct the dates in the independent accountants' report. It does not update financial information or events subsequent to the original August 29, 2025 filing. Therefore, a comparison of key metrics like revenue, net income, or margins to a prior year is not possible based on this specific amendment. The core financial health indicators and risks, including the going concern issue, remain as presented in the original filing.

Key Financial Figures

• $0.001 — g as of August 29, 2025 Common Stock: $0.001 6,134,780 EXPLANATORY NOTE On Augu

Filing Documents

• gst10k_2025amend.htm (10-K/A) — 44KB
• exhibit19_1.htm (EX-19.1) — 37KB
• ex31_1.htm (EX-31.1) — 13KB
• ex32_1.htm (EX-32.1) — 5KB
• 0001940243-25-000026.txt ( ) — 308KB
• none-20250531.xsd (EX-101.SCH) — 3KB
• none-20250531_lab.xml (EX-101.LAB) — 35KB
• none-20250531_pre.xml (EX-101.PRE) — 23KB
• gst10k_2025amend_htm.xml (XML) — 6KB

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data The following Report of Independent Registered Public Accounting Firm replaces the report set forth on page F-2 of the original filing: Report of Independent Registered Public Accounting Firm Board of Directors and Shareholders Global-Smart.Tech Inc. Opinion on the Financial Statements We have audited the accompanying balance sheets of Global-Smart.Tech Inc. as of May 31, 2025 and 2024, and the related statements of operations, stockholders' equity (deficit), and cash flows for the years then ended and the related notes (collectively referred to as the "financial statements"). In our opinion, the financial statements present fairly, in all material respects, the financial position of Global-Smart.Tech Inc. as of May 31, 2025 and 2024, and the results of its operations and its cash flows for the two years ended May 31, 2025, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying financial statements have been prepared assuming that the entity will continue as a going concern. As discussed in Note 2 to the financial statements, the entity has an accumulated deficit, uses cash in operations, and has recurring losses, all of which raise substantial doubt about its ability to continue as a going concern. Management's plans in regard to these matters are also described in Note 2. The financial statements do not include any adjustments that might result from the outcome of this uncertainty. Basis for Opinion These financial statements are the responsibility of the entity's management. Our responsibility is to express an opinion on these financial statements based on our audits. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) ("PCAOB") and are required to be independent with respect to Global-Smart.Tech Inc. in accordance with the U.S. federal securities laws and the applicable rules and

SIGNATURES

SIGNATURES Pursuant to the requirements of Section 13 or 15(d) of the Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. Dated: September 3, 2025 GLOBAL-SMART.TECH INC. By: /s/ Yehor Rodin Yehor Rodin, President, Secretary, Treasurer, Director (Principal Executive, Financial and Accounting Officer)

View Full Filing

View this 10-K/A filing on SEC EDGAR