| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $96 | — | — |
| Gross Profit | $96 | — | — |
| SG&A Expense | $251K | — | -1.5% |
| Operating Income | -$496K | — | +11.9% |
| Pre-tax Income | -$497K | — | +12.3% |
| Net Income | -$497K | — | +12.3% |
| EPS (Basic) | -$0.14 | — |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Cash & Equivalents | $360 | -94.8% | +42.3% |
| Accounts Receivable | $25 | -45.7% | — |
| Current Assets | $34K | -19.6% | +3379.9% |
| Total Assets | $4.1M | -5.9% | -32.7% |
| Current Liabilities | $1.2M | +24.8% | +61.6% |
| Total Liabilities |
| Line Item | 2026-03-31 | Q/Q | Y/Y |
|---|---|---|---|
| Operating Cash Flow | -$52K | — | +46.3% |
| Financing Cash Flow | $50K | — | -56.5% |
Business Overview
Global Interactive Technologies, Inc. operates FANING, a global digital fan engagement platform focused on Korean entertainment and K-pop culture, enabling users to consume, create, share, and engage with digital content across mobile and web services. During the first quarter of 2026, the company continues to pursue commercialization of its upgraded FANING 2.0 platform while exploring K-food products and entertainment-related business ventures. The company has undergone significant structural changes, including the sale of its HBC subsidiary in December 2024 and the acquisition of 100% ownership of FANING KOREA, LLC in December 2024 to improve its financial structure.
Segment Performance
The company operates as a single business segment focused on the FANING platform. For the three months ended March 31, 2026 versus March 31, 2025: Revenue increased from $0 to $96; Operating loss improved from $(563,468) to $(496,351); Net loss improved from $(566,681) to $(496,993); Operating expenses decreased from $563,468 to $496,447, driven by lower amortization ($189,316 vs. $249,948) and reduced general and administrative expenses ($250,635 vs. $254,550). Total assets declined from $4,376,094 to $4,116,185, primarily due to intangible asset amortization and decreases in current assets.
Forward Guidance
Management intends to address going concern conditions by continuing the launch and commercialization of the upgraded FANING 2.0 platform, pursuing K-food products and entertainment-related business ventures, seeking to increase user engagement and monetization, controlling operating costs, and pursuing additional capital through equity financings, borrowings, or other available financing arrangements. However, there can be no assurance that the Company will be successful in implementing these plans or that sufficient funding will be available on terms acceptable to the Company, if at all.
Key Risk Factors
| EPS (Diluted) | -$0.14 | — | +30.0% |
| $1.2M |
| +24.8% |
| +61.6% |
| Stockholders' Equity | $3.0M | -14.3% | -45.3% |
The company faces substantial going concern doubts due to accumulated deficit of $43.0 million, working capital deficiency of $1.1 million, and recurring operating losses ($497K in Q1 2026). Key risks include: inability to obtain sufficient additional capital required to continue operations; dependency on successful implementation of growth strategy and platform commercialization with no guarantee of profitability; intense competition in the social media and content creation industry with changing consumer preferences; reliance on recruitment and retention of skilled personnel including senior management; exposure to changes in laws, regulations, and accounting principles; and challenges maintaining Nasdaq listing with current financial performance.