$GLAI
Global AI, Inc.

2024 Q3 Form 10-Q Financial Statement

#000149315224032036 Filed on August 14, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $117.9K $263.8K
YoY Change 6.53% 1482.4%
Operating Profit -$117.9K -$263.8K
YoY Change 9.03% 12036.57%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income
YoY Change
Income Tax
% Of Pretax Income
Net Earnings -$117.9K -$263.8K
YoY Change 12.0% 4335.18%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 154.3M shares 154.3M shares
Diluted Shares Outstanding 154.3M shares 154.3M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $13.67K $22.42K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses $1.095K $1.095K
Receivables
Other Receivables
Total Short-Term Assets $14.76K $23.51K
YoY Change 1245.85% 117.72%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $14.76K $23.51K
Total Long-Term Assets $0.00 $0.00
Total Assets $14.76K $23.51K
YoY Change 1245.85% 106.66%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $83.44K $103.7K
YoY Change 186.94%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $91.55K $112.4K
YoY Change 214.82% 3.75%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $91.55K $112.4K
Total Long-Term Liabilities
Total Liabilities $91.55K $112.4K
YoY Change 214.82% 3.75%
SHAREHOLDERS EQUITY
Retained Earnings -$2.789M -$2.661M
YoY Change 82.64% 87.17%
Common Stock $154.3K $154.3K
YoY Change 439.97% 473.18%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$76.79K -$88.85K
YoY Change
Total Liabilities & Shareholders Equity $14.76K $23.51K
YoY Change 1245.85% 106.66%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$117.9K -$263.8K
YoY Change 12.0% 4335.18%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
CY2024Q2 us-gaap Interest Expense
InterestExpense
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us-gaap Interest Expense
InterestExpense
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CY2024Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
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us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
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us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
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GLAI Proceeds From Funds Received From Subscription Receivable
ProceedsFromFundsReceivedFromSubscriptionReceivable
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Interest Paid Net
InterestPaidNet
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us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
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CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
154312024 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
154312024 shares
CY2023Q2 us-gaap Interest Expense
InterestExpense
3775 usd
us-gaap Interest Expense
InterestExpense
4716 usd
CY2023Q2 us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-3775 usd
us-gaap Other Nonoperating Income Expense
OtherNonoperatingIncomeExpense
-4716 usd
CY2023Q4 us-gaap Stockholders Equity
StockholdersEquity
-52130 usd
CY2024Q1 GLAI Adjustments To Additional Paid In Capital Cash Received From Subscription Receivable
AdjustmentsToAdditionalPaidInCapitalCashReceivedFromSubscriptionReceivable
200000 usd
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-346210 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
-198340 usd
CY2024Q1 us-gaap Stockholders Equity
StockholdersEquity
-198340 usd
CY2024Q2 GLAI Adjustments To Additional Paid In Capital Cash Received From Subscription Receivable
AdjustmentsToAdditionalPaidInCapitalCashReceivedFromSubscriptionReceivable
373336 usd
CY2024Q2 us-gaap Net Income Loss
NetIncomeLoss
-263849 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-88853 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-88853 usd
us-gaap Net Income Loss
NetIncomeLoss
-610059 usd
us-gaap Net Income Loss
NetIncomeLoss
-7961 usd
us-gaap Increase Decrease In Accounts Receivable Related Parties
IncreaseDecreaseInAccountsReceivableRelatedParties
2450 usd
us-gaap Increase Decrease In Prepaid Expense
IncreaseDecreaseInPrepaidExpense
1155 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-128346 usd
us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-1300 usd
us-gaap Increase Decrease In Accrued Income Taxes Payable
IncreaseDecreaseInAccruedIncomeTaxesPayable
3522 usd
us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
4716 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-734883 usd
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
-8150 usd
GLAI Proceeds From Funds Received From Subscription Receivable
ProceedsFromFundsReceivedFromSubscriptionReceivable
573336 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
573336 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-161547 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8150 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
183964 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
9074 usd
CY2024Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
22417 usd
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Including Disposal Group And Discontinued Operations
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsIncludingDisposalGroupAndDiscontinuedOperations
924 usd
us-gaap Use Of Estimates
UseOfEstimates
<p id="xdx_84C_eus-gaap--UseOfEstimates_zEa03R5iwzYl" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_863_zLc1gCsZ1qif">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0; 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-top: 0pt; margin-bottom: 0pt; margin-left: 0"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2024Q2 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
CY2023Q4 us-gaap Cash Equivalents At Carrying Value
CashEquivalentsAtCarryingValue
0 usd
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
0 shares
us-gaap Net Income Loss
NetIncomeLoss
-610059 usd
us-gaap Net Cash Provided By Used In Continuing Operations
NetCashProvidedByUsedInContinuingOperations
734883 usd
CY2024Q2 us-gaap Stockholders Equity
StockholdersEquity
-88853 usd
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
250000000 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
154312024 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
154312024 shares
CY2024Q1 us-gaap Stockholders Equity Note Stock Split
StockholdersEquityNoteStockSplit
4-for-1 forward stock split
CY2024Q2 us-gaap Loss Contingency Pending Claims Number
LossContingencyPendingClaimsNumber
0 integer

Files In Submission

Name View Source Status
0001493152-24-032036-index-headers.html Edgar Link pending
0001493152-24-032036-index.html Edgar Link pending
0001493152-24-032036.txt Edgar Link pending
0001493152-24-032036-xbrl.zip Edgar Link pending
ex31-1.htm Edgar Link pending
ex32-1.htm Edgar Link pending
Financial_Report.xlsx Edgar Link pending
form10-q.htm Edgar Link pending
glai-20240630.xsd Edgar Link pending
MetaLinks.json Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
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R16.htm Edgar Link pending
R2.htm Edgar Link pending
R3.htm Edgar Link pending
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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
FilingSummary.xml Edgar Link unprocessable
form10-q_htm.xml Edgar Link completed
glai-20240630_cal.xml Edgar Link unprocessable
glai-20240630_def.xml Edgar Link unprocessable
glai-20240630_lab.xml Edgar Link unprocessable
glai-20240630_pre.xml Edgar Link unprocessable