Global-Smart.Tech Inc. Files Q1 10-Q

TL;DR

Global-Smart.Tech Inc. filed their Q1 10-Q. Financials are in.

AI Summary

Global-Smart.Tech Inc. filed a 10-Q for the period ending August 31, 2024. The company, incorporated in Wyoming and operating in Finance Services, has its principal business and mailing address in Tivat, Montenegro. The filing covers the first quarter of their fiscal year, which ends on May 31st.

Why It Matters

This filing provides investors with an update on Global-Smart.Tech Inc.'s financial performance and position for the first quarter of their fiscal year.

Risk Assessment

Risk Level: low — This is a standard quarterly filing with no immediate red flags or significant new information presented.

Key Numbers

• 2024-08-31 — Reporting Period End Date (Covers the first quarter of the fiscal year.)
• 0531 — Fiscal Year End (Indicates when the company's financial year concludes.)

Key Players & Entities

• Global-Smart.Tech Inc. (company) — Filer of the 10-Q
• 2024-08-31 (date) — End of the reporting period
• Tivat, Montenegro (location) — Business and mailing address
• 0531 (date) — Fiscal year end

FAQ

Key Financial Figures

• $0.001 — lders' Equity (Deficit) Common Stock ($0.001 par value, 75,000,000 shares authorized
• $173,780 — 2024 we have an accumulated deficit of $173,780, used cash in operations of $9,000 for
• $9,000 — of $173,780, used cash in operations of $9,000 for the three months ended August 31, 2
• $27,549 — curring losses, including a net loss of $27,549 for the three months ended August 31, 2
• $363,988 — o cooperation to purchase equipment for $363,988. Part of this equipment was put in use
• $7,000 — 11, 2023. Website development costs was $7,000 and the website was put to productive u
• $100,000 — whereby Mr. Rodin agreed to loan up to $100,000 on an unsecured and interest-free basis
• $300,000 — amended to increase the loan amount by $300,000, for a maximum loan amount of $400,000,
• $400,000 — $300,000, for a maximum loan amount of $400,000, and to change the maturity date to Oct
• $50,000 — ed again to increase the loan amount by $50,000, for a maximum loan amount of $450,000,
• $450,000 — y $50,000, for a maximum loan amount of $450,000, and to change the maturity date to Apr
• $405,091 — of May 31, 2024 Mr. Rodin had advanced $405,091 to the Company under the loan agreement
• $414,091 — advances under the loan agreement were $414,091. 5. Income Taxes The Company follows
• $13,206 — equent to August 31, 2024, the CEO paid $13,206 to vendors on behalf of the Company und
• $18,549 — penses included amortization expense of $18,549 and professional fees of $9,000. Total

Filing Documents

• gst10q.htm (10-Q) — 205KB
• ex31.htm (EX-31.1) — 19KB
• ex32.htm (EX-32.1) — 6KB
• 0001940243-24-000020.txt ( ) — 1250KB
• none-20240831.xsd (EX-101.SCH) — 9KB
• none-20240831_cal.xml (EX-101.CAL) — 16KB
• none-20240831_def.xml (EX-101.DEF) — 10KB
• none-20240831_lab.xml (EX-101.LAB) — 88KB
• none-20240831_pre.xml (EX-101.PRE) — 62KB
• gst10q_htm.xml (XML) — 120KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 18 Item 4.

Controls and Procedures

Controls and Procedures 19 PART II OTHER INFORMATION: Item 1.

Legal Proceedings

Legal Proceedings 19 Item 1A

Risk Factors

Risk Factors 19 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 20 Item 3. Defaults Upon Senior Securities 20 Item 4. Submission of Matters to a Vote of Securities Holders 20 Item 5. Other Information 20 Item 6. Exhibits 20

– FINANCIAL INFORMATION

PART I – FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements The accompanying interim financial or "our"), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations. The interim financial statements are condensed and should be read in conjunction with the Company's latest annual financial statements. In the opinion of management, the financial financial condition, results of operations, and cash flows of the Company for the interim periods presented. 4 GLOBAL-SMART.TECH Condensed Balance Sheets August 31, 2024 May 31, 2024 (unaudited) Assets Fixed Assets Equipment, net $ 241,114 $ 259,313 Website Development, net 4,200 4,550 Total Fixed Assets 245,314 263,863 Total Assets $ 245,314 $ 263,863 Liabilities and Stockholders' Equity (Deficit) Current Liabilities Loan from Related Parties $ 414,091 $ 405,091 Total Current Liabilities 414,091 405,091 Total Liabilities 414,091 405,091 Stockholders' Equity (Deficit) Common Stock ($0.001 par value, 75,000,000 shares authorized; 5,000,000 shares issued and outstanding as of August 31, 2024 and May 31, 2024) 5,000 5,000 Accumulated Other Comprehensive Income 3 3 Accumulated Deficit ( 173,780 ) ( 146,231 ) Total Equity ( 168,777 ) ( 141,228 ) Total Liabilities & Stockholders' Equity (Deficit) $ 245,314 $ 263,863 See accompanying notes, which are an integral part of these condensed financial statements 5 GLOBAL-SMART.TECH Condensed Statements of Operations (Unaudited) Three Months E

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

Management's Discussion and Analysis of Financial Condition and Results of Operations Business Overview We are an emerging technology company incorporated under the laws of the state of Wyoming on April 15, 2022. As part of our business evolution, we are focusing on expanding our operations in cloud rendering. Our primary objective is the development of an advanced platform dedicated to 3D interior designers and visualizers. Leveraging the power of GPUs, our platform aims to transform the rendering process, delivering exceptional performance and revolutionizing the industry. Plan of Operations The Company's business model centers on cloud rendering services. We believe that revenue growth and long-term profitability can be achieved in the year 2024 and beyond by ensuring the technical performance of our cloud rendering platform remains highly cost-effective. As we continue to expand, the gradual growth of our cloud rendering will provide opportunities to increase revenue from the sale of rendering capacities. By the end of 2024, we intend to generate revenue primarily through the sale of tariff plans for our cloud rendering services. To select the tariff plan that best fits client's requirements, they are required to contact our team to subscribe and submit their project. This allows us to choose the right tariff plan according to their project and the cloud rendering power needed. When estimating a project, we assess the required number of hours and capacity necessary to fulfill the client's needs. The tariff plans may vary depending on the number of video cards used to produce power (10, 25 and 40 video cards), as well as the time needed for rendering with a minimum option of 5 hours. Clients can contact us using the information provided in the "Contacts" section on our website (https://global-smart.tech/contacts/). After determining the project scope, the client proceeds with the payment. Once payment is received, we deliver the completed project, followi

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