GBT Technologies Inc. Files Q1 2024 10-Q
Ticker: GTCH · Form: 10-Q · Filed: May 20, 2024 · CIK: 1471781
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
GBT Tech Q1 2024 10-Q filed. Check financials.
AI Summary
GBT Technologies Inc. filed its 10-Q for the period ending March 31, 2024. The company, formerly known as Gopher Protocol Inc. and Forex International Trading Corp., is incorporated in Nevada and operates in management consulting services. The filing details financial information for the first quarter of 2024, comparing it to the previous year and the end of 2023.
Why It Matters
This filing provides investors with an update on GBT Technologies Inc.'s financial performance and position as of March 31, 2024, crucial for understanding the company's current operational status.
Risk Assessment
Risk Level: medium — The filing is a standard quarterly report, but the company's history of name changes and its industry can introduce inherent risks.
Key Numbers
- Q1 2024 — Reporting Period (First quarter of 2024 financial performance detailed.)
- 2023-12-31 — Previous Period End (Comparison point for Q1 2024 financial data.)
Key Players & Entities
- GBT Technologies Inc. (company) — Filer of the 10-Q
- Gopher Protocol Inc. (company) — Former name of GBT Technologies Inc.
- Forex International Trading Corp. (company) — Former name of GBT Technologies Inc.
- 20240331 (date) — End of reporting period
- 20240520 (date) — Filing date
FAQ
What is the primary business of GBT Technologies Inc.?
GBT Technologies Inc. operates in the Services-Management Consulting Services sector, with SIC code 8742.
When was the current 10-Q filing submitted to the SEC?
The 10-Q filing was submitted on May 20, 2024.
What is the fiscal year end for GBT Technologies Inc.?
The company's fiscal year ends on December 31.
What were the previous names of GBT Technologies Inc.?
GBT Technologies Inc. was formerly known as Gopher Protocol Inc. and Forex International Trading Corp.
What is the state of incorporation for GBT Technologies Inc.?
GBT Technologies Inc. is incorporated in Nevada (NV).
Filing Stats: 4,499 words · 18 min read · ~15 pages · Grade level 16.9 · Accepted 2024-05-20 16:06:02
Key Financial Figures
- $0.00001 — latest practicable date: Common Stock, $0.00001 par value 16,813,229,180 Common Shares
- $500.00 — H Preferred stock, $ 0.00001 par value ($500.00 stated value); 40,000 shares authorized
- $350.00 — I Preferred stock, $ 0.00001 par value ($350.00 stated value); 1,000 shares authorized;
Filing Documents
- e5662_10q.htm (10-Q) — 1100KB
- e5662_ex31-1.htm (EX-31.1) — 7KB
- e5662_ex32-1.htm (EX-32.1) — 4KB
- 0001731122-24-000847.txt ( ) — 6279KB
- gtch-20240331.xsd (EX-101.SCH) — 68KB
- gtch-20240331_cal.xml (EX-101.CAL) — 63KB
- gtch-20240331_def.xml (EX-101.DEF) — 246KB
- gtch-20240331_lab.xml (EX-101.LAB) — 417KB
- gtch-20240331_pre.xml (EX-101.PRE) — 383KB
- e5662_10q_htm.xml (XML) — 853KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 35 Item 4.
Controls and Procedures
Controls and Procedures 35 PART II. Other Information 36
: Condensed consolidated financial statements
Item 1: Condensed consolidated financial statements GBT TECHNOLOGIES INC. UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS ASSETS March 31, December 31, 2024 2023 (Unaudited) (Audited) Current Assets: Cash $ 173 $ 529 Note receivable 46,250 46,250 Marketable securities 27,377 31,206 Total current assets 73,800 77,985 Total assets $ 73,800 $ 77,985 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued expenses $ 5,305,771 $ 5,372,846 Accounts Payable and accrued expenses - related party 1,919,746 1,767,710 Accrued settlement 4,090,057 4,090,057 Convertible notes payable, current, net of discount of $ 12,728 and $ 43,739 5,310,348 5,665,017 Convertible notes payable, related party, net of discount of $ 0 and $ 0 491,395 661,395 Notes payable, current, net of original issue discount of $ 473 and $ 2,265 54,281 46,532 Notes payable, related party 140,000 140,000 Derivative liability 6,150,130 14,116,062 Total current liabilities 23,461,728 31,859,619 Non-Current Liabilities: Note payable, noncurrent, net of discount of $ 0 and $ 0 311,746 328,748 Total noncurrent liabilities 311,746 328,748 Total liabilities 23,773,474 32,188,367 Stockholders' Deficit: Series B Preferred stock, $ 0.00001 par value; 20,000,000 shares authorized; 45,000 and 45,000 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Series C Preferred stock, $ 0.00001 par value; 10,000 shares authorized; 700 and 700 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Series H Preferred stock, $ 0.00001 par value ($500.00 stated value); 40,000 shares authorized; 20,000 and 20,000 shares issued and outstanding at March 31, 2024 and December 31, 2023, respectively — — Series I Preferred stock, $ 0.00001 par value ($350.00 stated value); 1,000 shares authorized; 1,000 and 1,000 shares issued and outstand