Greentech Innovations Reports Zero Revenue, Deepening Working Capital Deficit

TL;DR

**GTIC is a cash-strapped penny stock with zero revenue and a growing debt pile; avoid at all costs.**

AI Summary

Greentech Innovations, Inc. (GTIC) reported no revenue for the fiscal years ended May 31, 2025, and May 31, 2024, indicating a lack of core business generation. The company's net loss decreased by 7% to $60,650 in 2025 from $65,101 in 2024, primarily due to a 12% reduction in operating expenses to $31,099 and a slight decrease in interest expense to $29,551. GTIC faces a significant working capital deficiency, which worsened to $434,363 in 2025 from $373,713 in 2024, driven by increased accrued interest and amounts due to related parties. The company's liquidity is severely constrained, with no cash on hand as of May 31, 2025, and reliance on director's loans for operational expenses, totaling $29,298 in 2025. Strategic outlook includes expanding travel booking websites and mobile apps, such as gohotelbookings.com and goflightsnow.com, and a planned $100,000 marketing budget to target 1 million new app installs, despite current financial limitations.

Why It Matters

Greentech Innovations' persistent lack of revenue and deepening working capital deficiency of $434,363 signals severe financial distress, making it a high-risk investment. For investors, this indicates a company struggling to generate income and sustain operations, relying heavily on director's loans. Employees and customers face uncertainty given the company's precarious financial state and limited resources for product development or service delivery. In the competitive app and travel booking markets, GTIC's inability to generate revenue puts it at a significant disadvantage against established players like Expedia or Google, highlighting a critical failure to monetize its offerings and posing a threat to its long-term viability.

Risk Assessment

Risk Level: high — The company reported no revenue for the fiscal years ended May 31, 2025, and 2024, and has a working capital deficiency of $434,363 as of May 31, 2025. This, combined with no cash on hand and reliance on director's loans for operations, indicates severe liquidity issues and a high risk of business failure.

Analyst Insight

Investors should avoid Greentech Innovations (GTIC) due to its complete lack of revenue, significant working capital deficiency of $434,363, and reliance on director's loans for basic operations. The company's financial instability and inability to generate income make it an extremely speculative and high-risk investment.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

N/A

total Debt

N/A

net Income

$ -60,650

eps

N/A

gross Margin

N/A

cash Position

$0

revenue Growth

N/A

Revenue Breakdown

Key Numbers

• $0 — Revenue (No revenue generated for fiscal years 2025 and 2024)
• $60,650 — Net Loss (Net loss for fiscal year ended May 31, 2025, a 7% decrease from 2024)
• $434,363 — Working Capital Deficiency (Increased from $373,713 in 2024 to $434,363 in 2025)
• $31,099 — Operating Expenses (Decreased by 12% from $35,469 in 2024)
• $29,551 — Other Expense (Interest) (Slight decrease from $29,632 in 2024)
• $0 — Cash and Cash Equivalents (No cash on hand as of May 31, 2025)
• 606,475 — Shares Outstanding (As of August 3, 2025)
• $100,000 — Planned Marketing Budget (Required to target 1 million new app installs)

Key Players & Entities

• Greentech Innovations, Inc. (company) — registrant
• GTIC (company) — ticker symbol
• Analog Nest Technologies, Inc. (company) — wholly-owned subsidiary
• Google (company) — app store regulator and advertising platform
• Apple (company) — app store regulator
• $60,650 (dollar_amount) — net loss for fiscal year 2025
• $434,363 (dollar_amount) — working capital deficiency as of May 31, 2025
• $100,000 (dollar_amount) — planned marketing budget for app installs
• 244 Madison Avenue, New York, NY 10016-2817 (location) — principal executive office

FAQ

Risk Factors

• Going Concern Uncertainty [high — financial]: The company incurred a net loss of $60,650 for the year ended May 31, 2025, and has an accumulated deficit of $39,149,633. Its continuation as a going concern is dependent upon improving profitability and receiving continuing financial support from stockholders and lenders.
• Working Capital Deficiency [high — financial]: The company faces a significant working capital deficiency, which worsened to $434,363 in 2025 from $373,713 in 2024. This is driven by increased accrued interest and amounts due to related parties.
• Lack of Revenue Generation [high — financial]: Greentech Innovations, Inc. reported no revenue for the fiscal years ended May 31, 2025, and May 31, 2024. This indicates a fundamental lack of core business generation and revenue streams.
• Severe Liquidity Constraints [high — financial]: As of May 31, 2025, the company has no cash on hand. It relies on director's loans for operational expenses, totaling $29,298 in 2025, highlighting extreme liquidity challenges.
• Dependence on Related Party Financing [medium — operational]: The company's working capital deficiency is exacerbated by amounts due to related parties. This reliance on related parties for funding can pose risks if those relationships change or if terms become unfavorable.
• Unproven Business Model [medium — market]: Despite plans to expand travel booking websites and mobile apps, the company has not yet demonstrated revenue generation. The planned $100,000 marketing budget to target 1 million app installs is a significant investment for a company with no current revenue.

Industry Context

Greentech Innovations operates in the travel booking and mobile app sector. This industry is highly competitive, with established players and numerous startups vying for market share. Trends include the increasing reliance on mobile platforms for bookings and the demand for personalized travel experiences. However, success often requires significant investment in technology, marketing, and user acquisition.

Regulatory Implications

As a publicly traded company, GTIC is subject to SEC regulations and reporting requirements. The company's financial condition, including its going concern status and lack of revenue, may attract increased scrutiny from regulators and investors regarding its viability and disclosures.

What Investors Should Do

1. Monitor the company's ability to secure additional funding beyond director loans, as this is critical for its survival given the substantial working capital deficiency and lack of revenue.
2. Evaluate the feasibility and potential return on investment of the planned $100,000 marketing budget, considering the company's current financial distress and unproven revenue streams.
3. Assess the long-term strategy for revenue generation, as the current focus on travel booking apps has not yet translated into sales, and the company has a history of pivoting business models.
4. Understand the terms and conditions of director loans and amounts due to related parties, as these represent significant liabilities and potential future obligations.

Glossary

Working Capital Deficiency

A situation where a company's current liabilities exceed its current assets, indicating a potential inability to meet short-term obligations. (GTIC has a significant and worsening working capital deficiency of $434,363 as of May 31, 2025, highlighting severe liquidity issues.)

Going Concern

An accounting assumption that a company will continue to operate for the foreseeable future. If substantial doubt exists, it must be disclosed. (The auditor's report raises substantial doubt about GTIC's ability to continue as a going concern due to its net losses and accumulated deficit, requiring management to seek further financial support.)

Accumulated Deficit

The total net losses of a company since its inception that have not been offset by net income. (GTIC has an accumulated deficit of $39,149,633 as of May 31, 2025, underscoring its long-term unprofitability.)

Convertible Notes

Debt instruments that can be converted into a predetermined amount of equity or debt of the issuing company. (Interest expense of $29,551 in 2025 is related to interest on convertible notes, indicating a form of debt financing.)

Year-Over-Year Comparison

For the fiscal year ended May 31, 2025, Greentech Innovations, Inc. reported no revenue, consistent with the prior year. The net loss decreased by 7% to $60,650, primarily due to a 12% reduction in operating expenses. However, the working capital deficiency significantly worsened by $60,650 to $434,363, driven by increased liabilities, and the company's cash position remains at $0, indicating continued severe financial strain.

Key Financial Figures

• $0.825 — ember 30, 2024, was $ 45,593 based on a $0.825 average bid and asked price of such com
• $100,000 — installs a marketing budget of at least $100,000 USD will be required to generate a lot
• $31,099 — or year ended May 31, 2025 decreased to $31,099 from $35,469 incurred during the year e
• $35,469 — May 31, 2025 decreased to $31,099 from $35,469 incurred during the year ended May 31,
• $29,551 — ended May 31, 2025 and May 31, 2024 was $29,551 and $29,632 from interest expense on co
• $29,632 — , 2025 and May 31, 2024 was $29,551 and $29,632 from interest expense on convertible no
• $60,650 — he year ended May 31, 2025 decreased to $60,650 from $65,101 for the year ended May 31,
• $65,101 — May 31, 2025 decreased to $60,650 from $65,101 for the year ended May 31, 2024 due to
• $29,298 — ar ended May 31, 2025, our Company used $29,298 in cash from operating activities, comp
• $36,111 — from operating activities, compared to $36,111 cash used in operating activities durin
• $31,352 — in operating assets and liabilities of $31,352. The cash used from operating activiti
• $28,990 — in operating assets and liabilities of $28,990. Cash Flow from Investing Activities
• $434,363 — at May 31, 2025, we had no cash and had $434,363 in outstanding current liabilities, con
• $129,402 — ies, consisting of convertible notes of $129,402, accrued interest of $169,341, due to r
• $169,341 — notes of $129,402, accrued interest of $169,341, due to related party of $131,117 and a

Filing Documents

• laab_10k.htm (10-K) — 456KB
• laab_ex311.htm (EX-31.1) — 13KB
• laab_ex321.htm (EX-32.1) — 5KB
• 0001640334-25-001606.txt ( ) — 2046KB
• laab-20250531.xsd (EX-101.SCH) — 23KB
• laab-20250531_lab.xml (EX-101.LAB) — 127KB
• laab-20250531_cal.xml (EX-101.CAL) — 21KB
• laab-20250531_pre.xml (EX-101.PRE) — 101KB
• laab-20250531_def.xml (EX-101.DEF) — 40KB
• laab_10k_htm.xml (XML) — 199KB

BUSINESS

BUSINESS 4 ITEM 1A.

RISK FACTORS

RISK FACTORS 6 ITEM 1B. UNRESOLVED STAFF COMMENTS 6 ITEM 1C. CYBERSECURITY 7 ITEM 2.

PROPERTIES

PROPERTIES 7 ITEM 3.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 7 ITEM 4. MINE SAFETY DISCLOSURES 7 PART II ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 8 ITEM 6.

SELECTED FINANCIAL DATA

SELECTED FINANCIAL DATA 8 ITEM 7.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 8 ITEM 7A.

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 11 ITEM 8.

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA F-1 ITEM 9. CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 12 ITEM 9A.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 12 ITEM 9B. OTHER INFORMATION 13 PART III ITEM 10. DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNANCE 14 ITEM 11.

EXECUTIVE COMPENSATION

EXECUTIVE COMPENSATION 15 ITEM 12.

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 16 ITEM 13. CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 17 ITEM 14. PRINCIPAL ACCOUNTING FEES AND SERVICES 17 PART IV ITEM 15. EXHIBITS, FINANCIAL STATEMENT SCHEDULES 18 ITEM 16. FORM 10-K SUMMARY 18

SIGNATURES

SIGNATURES 19 2 Table of Contents

FORWARD-LOOKING STATEMENTS

FORWARD-LOOKING STATEMENTS This annual report contains forward-looking statements. These statements relate to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "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 that may cause our or our industry's actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements 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, performance or achievements. 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. Our consolidated unaudited financial statements are stated in United States Dollars (US$) and are prepared in accordance with United States Generally Accepted Accounting Principles. The following discussion should be read in conjunction with our financial statements and the related notes that appear elsewhere in this annual report. The following discussion contains forward-looking statements that reflect our plans, estimates and beliefs. Our actual results could differ materially from those discussed in the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, those discussed below and elsewhere in this annual report. Unless otherwise specified in this annual report, all dollar amounts are expressed in United States dollars and all references

BUSINESS

ITEM 1. BUSINESS OVERVIEW We were incorporated in the State of Nevada on April 20, 2013 under the name UpperSolution.com with the principal business objective of creating an independent and unbiased mobile app that enables consumers to find the best cellular rate plan for their need and getting real-time notifications when a new cellular plan is available. On January 10, 2018, our company, Analog Nest Technologies, Inc. ("Analog Nest") and the shareholders of Analog (the "Analog Nest Shareholders") closed a transaction pursuant a share exchange agreement dated January 10, 2018, whereby our company acquired 100% of the outstanding shares of common stock of Analog Nest (the "Analog Nest Stock") from the Analog Nest Shareholders. In exchange for the Analog Nest Stock our company issued 100,000 shares of our common stock to the Analog Nest Shareholders. Analog Nest was incorporated in the State of Nevada on September 8, 2017 as a mobile application ("app") company focused on utility/entertainment apps for Google's Android and Apple's iOS platforms. In December 2017, Analog Nest acquired the following apps: Old Fart Booth, Old Fart Booth Pro, Ugly Face Booth, Ugly Santa Booth, Baldy - Bald Photo Booth, Fatty - Make Funny Fat Faces, Slender Man Scary Prank, Anime Booth, Anime Booth Free, Minecart Mayhem, Pimp My Pet, Pimp My Dog, Cavity Detector - Scary Prank, Mustacher, Alex From Target, A Farm Animal Salon, Mustacher Pro, Pimp My Cat, and Animal Dress Up Salon. On June 26, 2019, a majority of our stockholders and our board of directors approved a change of name of our company to "Startech Labs, Inc." and a reverse stock split of our issued and outstanding shares of common stock on a ninety-five (95) old for one (1) new basis. The name change and reverse stock split became effective on July 17, 2019. On December 1, 2018, the Company disposed of its mobile application company subsidiary, Analog Nest Technologies, Inc. On January 16, 2021, the Company acquired trav

RISK FACTORS

ITEM 1A. RISK FACTORS As a "smaller reporting company", we are not required to provide the information required by this Item.

UNRESOLVED STAFF COMMENTS

ITEM 1B. UNRESOLVED STAFF COMMENTS Not Applicable. 6 Table of Contents

CYBERSECURITY

ITEM 1C. CYBERSECURITY We have implemented cybersecurity risk management procedures, in accordance with our risk profile and business size. We rely on our information technology to operate our business. As such, we have policies and processes designed to protect our information technology systems, some of which are managed by third parties, and resolve issues in a timely manner in the event of a cybersecurity threat or incident. We have designed our business applications to minimize the impact that cybersecurity incidents could have on our business and have identified back-up systems where appropriate. We seek to further mitigate cybersecurity risks through a combination of monitoring and detection activities, use of anti-malware applications, employee training, quality audits and communication and reporting structures, among other processes. We have a trained group of people to carry out the activities of monitoring and detection of cybersecurity threats and respond to any cybersecurity threats or incidents. The Head of IT department is responsible for oversight of cybersecurity risks and addressing potential cybersecurity risks to business programs, employees, clients, vendors and partners. The Head of IT Department reports to our Chief Executive Officer who reports to the Audit Committee at the board-level, as appropriate. As of March 31, 2025, we have not identified an indication of a cybersecurity incident that would have a material impact on our business and financial statements.

PROPERTIES

ITEM 2. PROPERTIES Our address principal executive office is located at 244 Madison Avenue, New York, NY 10016-2817.

LEGAL PROCEEDINGS

ITEM 3. LEGAL PROCEEDINGS From time to time, we may become involved in litigation relating to claims arising out of our operations in the normal course of business. We are not involved in any pending legal proceeding or litigation and, to the best of our knowledge, no governmental authority is contemplating any proceeding to which we are a party and which would reasonably be likely to have a material adverse effect on our company. To date, our company has never been involved in litigation, as either a party or a witness, nor has our company been involved in any legal proceedings commenced by any regulatory agency against our company.

MINE SAFETY DISCLOSURES

ITEM 4. MINE SAFETY DISCLOSURES Not Applicable. 7 Table of Contents PART II

MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5. MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES Market Information There is a limited public market for our common shares. Our common shares are listed for quotation on the Pink sheets of the OTC Markets under the trading symbol "URSL". Trading in stocks quoted on the Pink Sheets is often thin and is characterized by wide fluctuations in trading prices due to many factors that may be unrelated to a company's operations or business prospects. Pink Sheet securities are not listed or traded on the floor of an organized national or regional stock exchange. Instead, OTC Pink Sheet securities transactions are conducted through a telephone and computer network connecting dealers in stocks. Pink Sheet issuers are traditionally smaller companies that do not meet the financial and other listing requirements of a regional or national stock exchange. Holders As of August 4, 2025, we had 3 shareholders of record of our common stock with 606,475 shares of common stock outstanding. Dividends We have not paid any cash dividends to our shareholders. The declaration of any future cash dividends is at the discretion of our board of directors and depends upon our earnings, if any, our capital requirements and financial position, our general economic conditions, and other pertinent conditions. It is our present intention not to pay any cash dividends in the foreseeable future, but rather to reinvest earnings, if any, in our business operations. Equity Compensation Plans Our company has not adopted any equity compensation plans and does not anticipate adopting any equity compensation plans in the near future. Notwithstanding the foregoing, because the company has limited cash resources at this time, it may issue shares or options to or enter into obligations that are convertible into shares of common stock with its employees and consultants as payment for services or as discretionary bonuses. Recent Sales

SELECTED FINANCIAL DATA

ITEM 6. SELECTED FINANCIAL DATA Not Applicable.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 7. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS This annual report on Form 10-K contains forward-looking statements within the meaning of the federal securities laws. These include statements about our expectations, beliefs, intentions or strategies for the future, which we indicate by words or phrases such as "anticipate," "expect," "intend," "plan," "will," "we believe," "management believes" and similar language. Except for the historical information contained herein, the matters discussed in this "Management's Discussion and Analysis of Financial Condition and Results of Operations," and elsewhere in this current report on Form 10-K are forward-looking statements that involve risks and uncertainties. The factors listed in the section captioned "Risk Factors," as well as any cautionary language in this current report on Form 10-K, provide examples of risks, uncertainties and events that may cause our actual results to differ materially from those projected. Except as may be required by law, we undertake no obligation to update any forward-looking statement to reflect events after the date of this current report on Form 10-K. Our audited financial statements are stated in United States Dollars and are prepared in accordance with United States Generally Accepted Accounting Principles. 8 Table of Contents Results of Operations - Years Ended May 31, 2025 and 2024 The following summary of our results of operations should be read in conjunction with our financial statements for the years ended May 31, 2025 and 2024, which are included herein. Our operating results for the year ended May 31, 2025 and 2024, and the changes between those periods for the respective items are summarized as follows: For the Year Ended May 31, May 31, 2025 2024 Change % Operating Expenses $ 31,099 $ 35,469 $ (4,370 ) (12%) Other expense 29,551 29,632 (81 ) - Net Loss $ (60,650 ) $ (65,101 ) $ 4,451

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK Not Applicable. 11 Table of Contents

FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8. FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA GREENTECH INNOVATIONS, INC. (Formerly STARTECH LABS, INC.) AUDITED FINANCIAL STATEMENTS MAY 31, 2025 AND 2024 Page Report of Independent Registered Public Accounting Firms (PCAOB ID: 5041) F-2 Balance Sheets F-3 F-4 F-5 F-6 Notes to the Financial Statements F-7 F-1 Table of Contents Report of the Independent Registered Public Accounting Firm To the Shareholders and the Board of Directors of Greentech Innovations, Inc. (Formerly Startech Labs, Inc) Opinion on the Financial Statements We have audited the accompanying balance sheets of Greentech Innovations, Inc as of May 31, 2025, and 2024, and the related statements of operations, changes in stockholders' equity, and cash flows for each of the two years in the period ended May 31, 2025, and 2024, 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 the Company as of May 31, 2025, and 2024, and the results of its operations and its cash flows for each of the two years in the period ended May 31, 2025 and 2024, in conformity with accounting principles generally accepted in the United States of America. Going Concern The accompanying financial statements have been prepared assuming the Company will continue as a going concern as disclosed in Note 3 to the financial statement, the Company incurred a net loss of $(60,650) and an accumulated deficit of $(39,149,633), the continuation of the Company as a going concern, is dependent upon improving the profitability and the continuing financial support from its stockholders and lenders. Management believes the existing shareholders or external fund providers will provide the additional cash to meet the Company's obligations as t

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