Greenwave Technology Solutions, Inc.

Listed Company

GWAVCIK 0001589149NasdaqNon-AcceleratedSmaller ReportingWholesale-Metals Service Centers & Of FicesDelawareFY ends Dec 31

Period

FY 2025

Revenue

$46.66M

Net Income

$-21.60M

Total Assets

$55.17M

Equity

$25.94M

Shares Out

829.6K

Op. Cash Flow

$-5.98M

GWAV$2.90+1245.71% · past yearDBEQ Basic

Daily closing prices

Business

Greenwave Technology Solutions operates metal recycling facilities across Virginia, North Carolina, and Ohio, collecting and processing end-of-life vehicles, appliances, construction materials, and industrial machinery into ferrous and nonferrous metal products. The company crushes, shreds, and sorts scrap metal into categories including heavy melting steel, plate steel, shredded scrap, aluminum, copper, and stainless steel for sale to steel mills and recyclers. Operations are supported by the ScrapApp.com platform for vehicle acquisition and GreenSpark enterprise resource planning software.

Summary from 10-K filed 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	47	33	36	34	8
Cost of Revenues	35	20	21	22	5
Gross Profit	12	13	14	12	3
Advertising	173,445	53,147	414,194	83,993	33,595
Payroll and related expense	11	8	7	7	2
Rent, utilities and property maintenance	1	3	3	3	605,480
Hauling and equipment maintenance	5	5	3	3	513,928
Depreciation and amortization expense	9	7	6	4	888,781
Impairment of tangible assets	—	439,086	0	2	—
Stock Compensation for Services	100,000	—	—	—	—
Consulting, accounting and legal	2	3	2	897,981	395,901
Warrants issued for services	—	3	—	—	—
Stock compensation	—	823,500	—	—	—
Other general and administrative expenses	4	4	3	2	2
Total Operating Expenses	32	47	34	23	6
Loss From Operations	−20	−34	−20	−11	−3
Interest expense and amortization of debt discount	−3	−5	−9	—	—
Shares issued for financing	—	−52,182	0	—	—
Other expense	—	−15,212	—	—	—
Other income	26,970	—	—	—	—
Other income - related party	56,100	—	—	—	—
Change in fair value of derivative liabilities	—	48	0	14	—
Fain (loss) on extinguishment of debt	980,769	−16	—	—	—
Equity issued for warrant inducement	—	−3	0	—	—
Loss on conversion of convertible notes	—	−14	0	3	−880
Gain on settlement of non-convertible notes payable, accrued interest, and advances	—	1	—	—	—
Total Other Income (Expense)	−2	10	−7	−24	1
Net Loss Before Income Taxes	−22	−24	−27	−35	−2
Provision for Income Taxes (Benefit)	—	—	0	—	—
Net Loss	−22	−24	−27	−35	−2
Deemed dividend for the reduction of exercise price of warrants	−3	−53	−2	—	—
Deemed dividend for the reduction of the conversion price of a debt note	—	−24	−5	—	—
Net Loss Available to Common Stockholders	−25	−100	−34	−64	3
Basic (per share)	−41.25	−932.14	−385.81	−9.71	0.57
Diluted (per share)	−41.21	−601.7	−385.81	−9.71	0.36
Basic (shares)	596,352	107,759	87,082	7	5
Diluted (shares)	596,352	107,759	87,082	7	8

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2024 2024-05-31	FY 2024 2024-02-29	FY 2023 2023-12-31
Cash	935,763	3	—	—	2
Inventories, net	2	3	—	—	200,428
Accounts receivable, net of allowance for doubtful accounts	1	1	—	—	646,413
Prepaid expenses	524,691	921,580	—	—	296,761
Total current assets	5	8	—	—	3
Property and equipment, net	36	37	—	—	23
Operating lease right of use assets, net	495,457	1	—	—	302,380
Security deposit	31,893	31,893	—	17,000	31,893
Total assets	55	63	—	—	46
Bank overdraft	163,141	231,696	—	—	118,763
Accounts payable and accrued expenses	8	6	—	—	6
Accrued payroll and related expenses	4	4	—	—	4
Non-convertible notes payable, current portion, net of unamortized debt discount of $162,390 and $633,396, respectively	2	3	—	—	3
Operating lease obligations, current portion	272,476	331,545	—	—	200,971
Total current liabilities	23	21	—	—	40
Operating lease obligations, less current portion	233,451	773,820	—	—	94,943
Non-convertible notes payable, net of unamortized debt discount of $1,642,823 and $1,076,554, respectively	6	4	—	—	6
Total liabilities	29	26	—	—	51
Commitments and contingencies (See Note 11)	—	—	—	—	—
Common stock, $0.001 par value, 1,200,000,000 shares authorized; 829,631 and 237,191 shares issued and outstanding, respectively	830	237	—	—	113
Additional paid in capital	547	533	17	—	391
Accumulated deficit	−521	−496	—	—	−396
Total stockholders equity	26	37	—	—	−4
Total liabilities and stockholders equity	55	63	—	—	46

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and amortization of debt discount	3	5	9	32	10
Loss on conversion of debt	—	14	—	—	—
Gain on settlement of non-convertible notes payable and advances	—	−1	—	—	—
Impairments on equipment	—	439,086	—	—	388,877
Stock based compensation	100,000	823,500	171,239	—	166,855
(Gain)/Loss on extinguishment	−980,769	16	—	—	−739,710
Due to related parties	−200,403	−2	2	194,916	—
Inventories	648,739	−3	−10,782	191,356	−381,002
Accounts receivable	137,466	−745,477	−431,155	−215,256	—
Prepaid expenses	396,889	−687,194	−200,590	−12,838	97,132
Security deposit	—	—	−25,000	−3,306	−2,437
Accounts payable and accrued expenses	1	−969,383	−856,151	2	−609,683
Accrued payroll and related expenses	3	−156,582	614,271	2	137,415
Net cash used in operating activities	−6	−17	−2	−3	−2
Proceeds from disposal of property and equipment	1	—	—	—	—
Net cash used in investing activities	−934,299	−16	−2	−6	−77,666
Bank overdrafts	−68,555	112,933	118,763	—	—
Proceeds from issuance of common stock with warrants	10	40	3	—	—
Proceeds from warrant exercises	—	3	15,511	—	—
Repayment of convertible notes	—	−1	—	—	−3
Repayment of non-convertible notes payable	−3	−3	−5	−220,000	−6
Repayment of non-convertible notes payable - Related party	−2	−4	—	—	—
Proceeds from factoring	—	3	4	7	—
Repayments of factoring	—	−4	−13	−2	—
Net cash provided by financing activities	5	34	4	6	6
Net (decrease)/increase in cash	−2	1	724,355	−2	3
Cash paid during period for interest	798,994	365,000	593,072	216,763	362,865
Cash paid during period for taxes	—	—	—	—	—
Equipment purchased by issuance of non-convertible notes payable	6	—	3	4	—
Non-convertible notes settled with disposal of property	3	—	—	—	—
Reclassification of related party note to due to related parties	2	—	—	—	—
Deemed dividend for exercise price reduction of warrants	3	24	2	—	—
Deemed dividend for conversion price reduction of note	—	53	5	—	—
Exchange of related party notes to Series D Preferred	—	10	—	—	—
Common shares issued for cashless exchange of warrants	329	11,807	360	—	—
Rounding for reverse split	1,490	156	—	—	—
Increase in right of use assets and operating lease liabilities	—	1	199,466	2	430,638
Common shares issued upon conversion of Series Z Preferred	—	1,333	1,303	725	—
Legal fees paid out of warrant exercise	—	139,955	—	—	—
Assets purchased adjusted from Accounts Receivable	—	137,500	—	—	—
Common shares issued upon conversion of convertible notes and accrued interest	—	3	—	37	133,002
Land purchase with issuance of Series A-1 Preferred	—	3	—	—	—
Land Purchased with deed of trust notes	—	12	—	1	—

Filings

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Frequently asked questions

What is Greenwave Technology Solutions, Inc.'s CIK number?

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