$GWTI
Greenway Technologies Inc

2024 Q3 Form 10-K Financial Statement

#000149315224027946 Filed on July 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2023 Q4 2023
Revenue $0.00
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $240.6K
YoY Change 39.86%
% of Gross Profit
Research & Development $0.00
YoY Change -100.0%
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $240.6K $960.7K
YoY Change 14.41% 1.89%
Operating Profit -$960.7K
YoY Change 1.89%
Interest Expense -$156.2K
YoY Change 17.32%
% of Operating Profit
Other Income/Expense, Net -$620.0K
YoY Change 8.81%
Pretax Income -$396.8K
YoY Change 15.53%
Income Tax
% Of Pretax Income
Net Earnings -$396.8K -$1.581M
YoY Change 15.53% 4.5%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 416.3M shares 403.8M shares 397.7M shares
Diluted Shares Outstanding 397.7M shares

Balance Sheet

Concept 2024 Q3 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $1.130K $1.130K
YoY Change -95.41% -95.41%
Cash & Equivalents $1.132K
Short-Term Investments
Other Short-Term Assets $0.00 $0.00
YoY Change -100.0% -100.0%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.132K $1.130K
YoY Change -95.89% -95.9%
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
TOTAL ASSETS
Total Short-Term Assets $1.132K $1.130K
Total Long-Term Assets $0.00 $0.00
Total Assets $1.132K $1.130K
YoY Change -95.89% -95.9%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $8.372M $8.372M
YoY Change 17.64% 17.64%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $652.5K $652.5K
YoY Change -2.97% -2.97%
Long-Term Debt Due $2.972M $2.972M
YoY Change 0.0% 0.0%
Total Short-Term Liabilities $12.03M $12.03M
YoY Change 11.75% 11.75%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $12.03M $12.03M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $12.03M $12.03M
YoY Change 11.75% 11.75%
SHAREHOLDERS EQUITY
Retained Earnings -$37.86M
YoY Change 4.36%
Common Stock $25.83M
YoY Change 1.15%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$12.03M -$12.03M
YoY Change
Total Liabilities & Shareholders Equity $1.132K $1.130K
YoY Change -95.89% -95.9%

Cashflow Statement

Concept 2024 Q3 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$396.8K -$1.581M
YoY Change 15.53% 4.5%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities -$32.66K -$302.7K
YoY Change -70.12% -39.06%
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 $265.5K
YoY Change -44.94%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 29.20K $279.2K
YoY Change -70.59% -39.4%
NET CHANGE
Cash From Operating Activities -32.66K -$302.7K
Cash From Investing Activities
Cash From Financing Activities 29.20K $279.2K
Net Change In Cash -3.460K -$23.46K
YoY Change -65.54% -34.74%
FREE CASH FLOW
Cash From Operating Activities -$32.66K -$302.7K
Capital Expenditures
Free Cash Flow
YoY Change

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<p id="xdx_84D_eus-gaap--UseOfEstimates_zYIAW28prrcg" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_znMbi50j4Oqj">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Preparing financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and revenues and expenses during the reported period. Actual results could differ from those estimates, and those estimates may be material.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Changes in estimates are recorded in the period in which they become known. The Company bases its estimates on historical experience and other assumptions, which include both quantitative and qualitative assessments that it believes to be reasonable under the circumstances.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">Significant estimates during the years ended December 31, 2023 and 2022, respectively, include valuation of stock-based compensation, uncertain tax positions, and the valuation allowance on deferred tax assets.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 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: 0pt 0; text-align: justify"></p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>GREENWAY TECHNOLOGIES, INC. AND SUBSIDIARIES</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>NOTES TO CONSOLIDATED FINANCIAL STATEMENTS</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b>DECEMBER 31, 2023 AND 2022</b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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CY2023Q4 us-gaap Derivative Liabilities Current
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0 usd
CY2023Q4 us-gaap Unrecognized Tax Benefits
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0 usd
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54275 usd
CY2023Q4 us-gaap Common Stock Shares Authorized
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0.0001
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0.21 pure
CY2023 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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0.21 pure
CY2023 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
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CY2022 us-gaap Income Tax Reconciliation Nondeductible Expense
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15000 usd
CY2023 GWTI Income Tax Reconciliation Subtotal
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CY2022 GWTI Income Tax Reconciliation Subtotal
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CY2023 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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332000 usd
CY2022 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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303000 usd
CY2023Q4 us-gaap Deferred Tax Assets Other
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6420000 usd
CY2022Q4 us-gaap Deferred Tax Assets Other
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6088000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
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1609000 usd
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1370.000 usd
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8029000 usd
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7458000 usd
CY2023Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
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570000 usd
CY2023Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards Domestic
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30570000 usd
CY2023Q4 us-gaap Operating Loss Carryforwards
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30570000 usd
CY2023 GWTI Taxable Income Percentage
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0.80 pure
CY2023Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0 usd
CY2023 GWTI Corporate Tax Returns
CorporateTaxReturns
0 usd

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