$GLAI
Global AI, Inc.

2024 Q1 Form 10-K Financial Statement

#000149315224005474 Filed on February 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q3 2023
Revenue $2.500K $49.00K
YoY Change -83.33% -18.33%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $346.2K $110.7K $524.2K
YoY Change 1815.88% 611.9% 844.5%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $346.2K $110.7K $162.3K
YoY Change 1815.83% 611.9% 192.33%
Operating Profit -$346.2K -$108.2K -$113.3K
YoY Change 32225.86% -2618.97%
Interest Expense $2.800K $2.855K
YoY Change -391.67% -23.62%
% of Operating Profit
Other Income/Expense, Net $2.824K -$2.855K
YoY Change -23.62%
Pretax Income -$346.2K -$105.3K -$524.2K
YoY Change 17123.88% 6873.51% -69073.68%
Income Tax
% Of Pretax Income
Net Earnings -$346.2K -$105.3K -$116.1K
YoY Change 17107.26% 6873.51% -15417.68%
Net Earnings / Revenue -4212.0% -236.96%
Basic Earnings Per Share $0.00 $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 154.3M shares 26.92M shares 28.58M shares
Diluted Shares Outstanding 154.3M shares 26.92M shares 28.58M shares

Balance Sheet

Concept 2024 Q1 2023 Q3 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.70K $0.00 $184.0K
YoY Change 341.51% -100.0% 3066.95%
Cash & Equivalents $11.70K $2.00
Short-Term Investments
Other Short-Term Assets $1.100K $1.100K $1.100K
YoY Change -79.32% -78.35% -78.35%
Inventory
Prepaid Expenses $1.095K $1.095K
Receivables
Other Receivables $0.00
Total Short-Term Assets $12.80K $1.097K $185.1K
YoY Change -1.36% -93.1% 1064.88%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Assets $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
TOTAL ASSETS
Total Short-Term Assets $12.80K $1.097K $185.1K
Total Long-Term Assets $0.00 $0.00 $0.00
Total Assets $12.80K $1.097K $185.1K
YoY Change -5.57% -93.34% 1023.86%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $201.9K $29.08K $232.1K
YoY Change 697.59%
Accrued Expenses $9.200K $0.00 $5.100K
YoY Change -11.62% -100.0% -40.07%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0% -100.0% -100.0%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $211.1K $29.08K $237.2K
YoY Change 101.98% -71.67% 131.12%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $211.1K $29.08K $237.2K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $211.1K $29.08K $237.2K
YoY Change 101.98% -71.67% 131.12%
SHAREHOLDERS EQUITY
Retained Earnings -$2.398M -$1.527M
YoY Change 69.33% 8.23%
Common Stock $154.3K $28.58K
YoY Change 473.32% 6.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$198.3K -$27.98K -$52.10K
YoY Change
Total Liabilities & Shareholders Equity $12.80K $1.097K $185.1K
YoY Change -5.57% -93.34% 1023.86%

Cashflow Statement

Concept 2024 Q1 2023 Q3 2023
OPERATING ACTIVITIES
Net Income -$346.2K -$105.3K -$116.1K
YoY Change 17107.26% 6873.51% -15417.68%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$372.3K -$900.00 -$5.810K
YoY Change 5698.49% -47.98% -385.36%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $200.0K $0.00
YoY Change
Cash From Investing Activities $200.0K
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 0.000
YoY Change
NET CHANGE
Cash From Operating Activities -$372.3K -900.0 -$5.810K
Cash From Investing Activities $200.0K
Cash From Financing Activities 0.000
Net Change In Cash -$172.3K -900.0 -$5.810K
YoY Change 2583.22% -47.98% -224.79%
FREE CASH FLOW
Cash From Operating Activities -$372.3K -$900.00 -$5.810K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_84B_eus-gaap--UseOfEstimates_zI0cq68Jma5h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_868_zRAVtmUuUTul">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The financial statements are prepared in accordance with Accounting Principles Generally Accepted in the United States (“GAAP”). These accounting principles require the Company to make certain estimates, judgments and assumptions. The Company believes that the estimates, judgments and assumptions upon which it relies are reasonable based upon information available at the time that these estimates, judgments and assumptions are made. These estimates, judgments and assumptions can affect the reported amounts of assets and liabilities as of the date of the financial statements as well as the reported amounts of revenues and expenses during the periods presented. The financial statements would be affected to the extent there are material differences between these estimates and actual results. In many cases, the accounting treatment of a particular transaction is specifically dictated by GAAP and does not require management’s judgment in its application. There are also areas in which management’s judgment in selecting any available alternative would not produce a materially different result. Significant estimates include the valuation allowance on deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"></span></p>
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CommonStockSharesIssued
28578006 shares
CY2023Q3 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
28578006 shares
CY2023 us-gaap Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt
AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt
105485 usd
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
160 usd
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
28 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
IncomeTaxReconciliationChangeInDeferredTaxAssetsValuationAllowance
-188 usd
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.2100 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0474 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.0474 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2574 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
-0.2574 pure
CY2023Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
36361 usd
CY2022Q3 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
36361 usd
CY2023Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
36361 usd
CY2022Q3 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
36361 usd
CY2023Q3 us-gaap Operating Loss Carryforwards
OperatingLossCarryforwards
637000 usd
CY2023Q3 WSCO Net Operating Loss Carryforwards Available Change In Ownership
NetOperatingLossCarryforwardsAvailableChangeInOwnership
147000 usd
CY2023Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0 integer
CY2022Q3 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0 integer

Files In Submission

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wsco-20230930_cal.xml Edgar Link unprocessable
0001493152-24-005474-index-headers.html Edgar Link pending
0001493152-24-005474-index.html Edgar Link pending
0001493152-24-005474.txt Edgar Link pending
0001493152-24-005474-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-k.htm Edgar Link pending
MetaLinks.json Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
form10-k_htm.xml Edgar Link completed
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R20.htm Edgar Link pending
R21.htm Edgar Link pending
R22.htm Edgar Link pending
R23.htm Edgar Link pending
R24.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
wsco-20230930.xsd Edgar Link pending
wsco-20230930_lab.xml Edgar Link unprocessable
wsco-20230930_pre.xml Edgar Link unprocessable
wsco-20230930_def.xml Edgar Link unprocessable