GBT Technologies Inc. Files Q3 2024 10-Q Report
Ticker: GTCH · Form: 10-Q · Filed: Nov 14, 2024 · CIK: 1471781
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
GBT Tech filed its Q3 10-Q. All good.
AI Summary
GBT Technologies Inc. filed its quarterly report for the period ending September 30, 2024. The company, formerly known as Gopher Protocol Inc. and Forex International Trading Corp., is incorporated in Nevada and operates in management consulting services. Its principal executive offices are located in Santa Monica, California.
Why It Matters
This filing provides investors with an update on GBT Technologies Inc.'s financial performance and operational status for the third quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing providing financial and operational updates without immediate significant news.
Key Players & Entities
- GBT Technologies Inc. (company) — Filer of the 10-Q report
- Gopher Protocol Inc. (company) — Former name of GBT Technologies Inc.
- Forex International Trading Corp. (company) — Former name of GBT Technologies Inc.
- 20240930 (date) — End of the reporting period
- 20241114 (date) — Filing date of the report
- 8742 (number) — Standard Industrial Classification code for Management Consulting Services
- NV (state) — State of incorporation
- SANTA MONICA, CA (location) — Business and mailing address
FAQ
What is the reporting period for this 10-Q filing?
The Conformed Period of Report is 20240930, indicating the period ending September 30, 2024.
When was this 10-Q report filed with the SEC?
The report was filed on 20241114.
What industry does GBT Technologies Inc. operate in?
GBT Technologies Inc. operates in SERVICES-MANAGEMENT CONSULTING SERVICES, with a Standard Industrial Classification code of 8742.
What were the previous names of GBT Technologies Inc.?
GBT Technologies Inc. was formerly known as Gopher Protocol Inc. and Forex International Trading Corp.
Where are the principal business offices of GBT Technologies Inc. located?
The business address is listed as 2500 BROADWAY SUITE F125, SANTA MONICA, CA 90404.
Filing Stats: 4,716 words · 19 min read · ~16 pages · Grade level 17.4 · Accepted 2024-11-14 16:09:50
Key Financial Figures
- $0.00001 — latest practicable date: Common Stock, $0.00001 par value 16,813,229,180 Common Shares
- $500 — H Preferred stock, $ 0.00001 par value ($500 stated value); 40,000 shares authorized
- $350 — I Preferred stock, $ 0.00001 par value ($350 stated value); 1,000 shares authorized;
- $0.0001 — e will pay with shares of common stock, $0.0001 par value per share (the "Common Stock"
- $0.001 — share of Bannix common stock, par value $0.001 per share ("Bannix Common Stock") outst
- $0 — to one share of common stock, par value $0.001, of VisionWave Holdings (each, a sh
- $0.01 — standing Target common stock, par value $0.01 ("Target Common Stock"), shall be cance
Filing Documents
- e6118_10q.htm (10-Q) — 1244KB
- e6118_ex31-1.htm (EX-31.1) — 7KB
- e6118_ex32-1.htm (EX-32.1) — 4KB
- 0001731122-24-001804.txt ( ) — 6416KB
- gtch-20240930.xsd (EX-101.SCH) — 66KB
- gtch-20240930_cal.xml (EX-101.CAL) — 57KB
- gtch-20240930_def.xml (EX-101.DEF) — 245KB
- gtch-20240930_lab.xml (EX-101.LAB) — 398KB
- gtch-20240930_pre.xml (EX-101.PRE) — 375KB
- e6118_10q_htm.xml (XML) — 910KB
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 37 Item 4.
Controls and Procedures
Controls and Procedures 37 PART II. Other Information 39
: Condensed consolidated financial statements
Item 1: Condensed consolidated financial statements GBT TECHNOLOGIES INC. CONDENSED CONSOLIDATED BALANCE SHEETS ASSETS September 30, 2024 December 31, 2023 (Unaudited) (Audited) Current Assets: Cash $ 1,505 $ 529 Note receivable 46,250 46,250 Marketable securities 9,546 31,206 Total current assets 57,301 77,985 Total assets $ 57,301 $ 77,985 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued expenses $ 2,634,471 $ 5,372,846 Accounts Payable and accrued expenses - related party 2,911,941 1,767,710 Accrued settlement 4,090,057 4,090,057 Convertible notes payable, current, net of discount of $ 0 and $ 43,739 5,131,491 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 $ 0 and $ 2,265 21,252 46,532 Notes payable, related party 140,000 140,000 Derivative liability 665,941 14,116,062 Total current liabilities 16,086,548 31,859,619 Non-Current Liabilities: Note payable, noncurrent, net of discount of $ 0 and $ 0 328,748 328,748 Total noncurrent liabilities 328,748 328,748 Total liabilities 16,415,296 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 September 30, 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 September 30, 2024 and December 31, 2023, respectively — — Series H Preferred stock, $ 0.00001 par value ($500 stated value); 40,000 shares authorized; 20,000 and 20,000 shares issued and outstanding at September 30, 2024 and December 31, 2023, respectively — — Series I Preferred stock, $ 0.00001 par value ($350 stated value); 1,000 shares authorized; 1,000 and 1,000 shares issued and outstanding at Se