Global Interactive Technologies, Inc.

Listed Company

GITSCIK 0001911545NasdaqNon-AcceleratedSmaller ReportingEmerging GrowthServices-Computer Programming, Data Processing, Etc.X1FY ends Dec 31

Period

FY 2024

Revenue

—

Net Income

$-6.17M

Total Assets

$6.40M

Equity

$5.74M

Shares Out

3.67M

Op. Cash Flow

$-456.4K

Business

Global Interactive Technologies, Inc. operates Faning, a technology-driven platform that connects global fans of Korean culture through interactive digital experiences. The company offers the Faning app and PC web services featuring content discovery, user-generated and company-created content, live streaming, real-time multilingual chats, a reward point system (FP), and an integrated Fanshop and e-commerce marketplace. Key business components include Faning Korea, which develops and operates the platform, community features such as Clubs and Club Vaults, content production teams, and the Epic eCommerce logistics unit. The platform targets global fandom markets (excluding China, Hong Kong and Macau) and distributes via mobile apps, PC/web interfaces, partnerships, and third-party social channels.

Summary from filing dated 2025-04-30

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Sales	—	—	428,187
Cost of Revenue	—	—	—
Gross profit	—	—	428,187
Operating cost and expenses	−888,363	−2	−6
Loss from operations	−888,363	−2	−5
Impairment loss on intangible assets	−94,264	—	—
Gain on disposal of subsidiary	12	—	—
Loss on disposal of tangible assets	−23,937	—	—
Interest income (expense), net	−1,181	32	−8,931
Gain on foreign currency transactions	3,617	154,561	650
Bad-debt expense of other assets	−16	—	—
Other expense, net	−73	—	—
Net other (expense)/ income	−4	154,593	217,434
Net Loss from continuing operations before taxes	−5	−2	−5
Income tax expense	—	—	—
Net loss from continuing operations	−5	−2	−5
Loss from discontinued operations	−1	−8	−1
Income tax benefit	—	—	—
Loss from discontinued operation	−1	−8	−1
Net Loss	−6	−9	−6
Less net loss attributable to non-controlling interest	—	−121,725	−146,256
Net Loss attributable to equity holders of the Company	−6	−9	−6
Loss from continuing operations (in Dollars per share)	−1.81	−0.73	−0.12
Loss from discontinued operations (in Dollars per share)	−0.53	−2.99	−0.02
Total basic net loss per share (in Dollars per share)	−2.34	−3.68	−0.14
Loss from continuing operations (in Dollars per share)	−1.81	−0.73	−0.12
Loss from discontinued operations (in Dollars per share)	−0.53	−2.99	−0.02
Total diluted net loss per share (in Dollars per share)	−2.34	−3.68	−0.14
Basic (in Shares)	3	3	43
Diluted (in Shares)	3	3	43

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and Cash Equivalents	2,352	69,688	118,262	—
Short-term loans receivable	338	131,080	513,356	—
Non-trade receivables	297	—	2	—
Prepaid expenses and other receivable	—	748	360,518	—
Current assets, discontinued operations	—	20	269,067	—
Total current assets	2,987	20	3	—
PROPERTY PLANT AND EQUIPMENT, NET	2,656	124,030	253,090	—
INTANGIBLE ASSETS, NET	5	—	—	—
OPERATING LEASE RIGHT-OF-USE ASSET	1	—	2	—
Total Assets	6	21	6	—
Short-term loans payable	20,436	—	—	—
Short-term loans payable from related parties	349,607	—	—	—
Non-trade accounts payable	290,917	—	2	—
Accrued expenses and other current liabilities	7,379	—	65,678	—
Current liabilities, discontinued operations	—	7	—	—
Total current liabilities	668,339	7	4	—
Total Liabilities	668,339	7	7	—
Commitments and contingencies (Note 16)	—	—	—	—
Common Stock, $0.02 par value Authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding 2,640,429 common shares and 2,640,429 common shares as of December 31, 2024 and December 31, 2023*	52,809	52,809	45,417	—
Additional paid-in capital	44	51	28	—
Accumulated deficit	−38	−39	−30	—
Accumulated other comprehensive income	−666,470	493,942	879,420	—
Equity attributable to equity holder of the Company	6	13	−1	—
Total Stockholders Equity	6	13	−1	2
Total Liabilities and Stockholders Equity	6	21	6	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Depreciation	6,352	9,183	—
Impairment loss on intangible assets	94,264	—	—
Non-trade receivable	2,170	—	82,317
Prepaid expenses and other current assets	−357	−739	−65,351
Other assets	414,610	—	41,642
Accrued expenses and other current liabilities	6,812	—	52,115
Net cash used in operating activities of continuing operations	−456,413	−2	−3
Receipt from collection of short-term loan receivable	84,154	11,988	—
Payment for short-term loan receivable	−14,103	−6	—
Disposal of property and equipment	84,097	—	—
Purchase of property and equipment	—	−131,692	−7,024
Net cash provided by/(used in) investing activities of continuing operations	154,148	−6	1
Proceeds from short-term loan payable	10,264	505	771,083
Proceeds from short-term loan payable from related parties	364,172	—	749,642
Proceeds from exercising warrants	—	420,000	2
Net proceeds from IPO	—	8	—
Repayment of short-term loan payable	−2,933	−505	−77,558
Repayment of short-term loan payable from related parties	−3,351	—	−556,924
Net cash provided by financing activities of continuing operations	368,152	8	3
Net change in cash continued operations	65,887	127,863	733,964
Net cash used in operating activities of discontinued operations	−1	−14	−610,981
Net cash (used in) provided by investing activities of discontinued operations	−5	2	−8,186
Net cash (used in) provided by financing activities of discontinued operations	311,413	17	−320,090
Net change in cash discontinued operations	−6	5	−939,257
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	−6	5	−205,293
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS	656,247	151,998	−6,197
Cash receipt (paid) for interest all operations	63	70,122	−8,901
Less Cash receipt for interest - discontinued operations	63	4	31
Cash receipt (paid) for interest continued operations	—	70,118	−8,932
Cash receipt (paid) during the period for interest	63	70,122	−8,901

Filings

Filing historySign up free to browse every 10-K, 10-Q, 8-K, and proxy this filer has submitted to the SEC.Sign up free · Upgrade to Pro

Material Events

Material EventsTrack every 8-K filing and material event — AI-summarized, timelined, and alertable.Sign up free · Upgrade to Pro

Insiders

Insider ActivitySee executive buy/sell windows and insider trade activity over rolling 30/90/365-day windows.Sign up free · Upgrade to Pro

Institutional Holders

Institutional HoldersSee which funds hold this stock and track position changes quarter over quarter.Sign up free · Upgrade to Pro