GITS SEC Filing Analysis — 2026-05-26

GITSHIGH SIGNAL2 consecutive High signalsFINANCIAL10-K

GITS experienced severe financial deterioration with accounts receivable collapsing 100% to just $46, stockholders equity plummeting 40%, and gross profit margins imploding from $726K to $2K despite revenue growth.

The company shows classic signs of financial distress with working capital deficiency, substantial doubt about going concern ability, and operations that cannot generate meaningful gross profit despite increased sales. The dramatic decline in stockholders equity combined with rising liabilities and the explicit going concern warnings in the risk factors indicate investors face significant risk of total loss.

Comparing 2026-05-26 vs 2025-04-30View on EDGAR →

FINANCIAL ANALYSIS

While revenue increased 85.5% to $794K, the company's financial position severely deteriorated with gross profit collapsing 99.7% to just $2K, indicating massive margin compression or cost structure problems. The balance sheet shows distress signals with stockholders equity falling 40% to $3.4M, total assets declining 32%, and current liabilities increasing 40% to $933K. Despite revenue growth, the company appears to be burning through capital rapidly while generating virtually no gross profit, creating an unsustainable financial trajectory that aligns with management's going concern disclosures.

FINANCIAL STATEMENT CHANGES

Accounts Receivable

Balance Sheet

-100%

$324K→46

Receivables declined — improved collection efficiency or conservative revenue recognition.

Gross Profit

P&L

-99.7%

$726K→$2K

Gross margin compression — rising input costs, pricing pressure, or unfavorable product mix shift.

Cash & Equivalents

Balance Sheet

+85.9%

$4K→$7K

Cash position surged 85.9% — strong cash generation or capital raise providing significant financial cushion.

Revenue

P&L

+85.5%

$428K→$794K

Strong top-line growth of 85.5% — accelerating demand or successful expansion into new markets.

Stockholders Equity

Balance Sheet

-40%

$5.7M→$3.4M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Total Liabilities

Balance Sheet

+39.7%

$668K→$933K

Liabilities grew 39.7% — significant increase in debt or obligations, assess impact on financial flexibility.

Current Liabilities

Balance Sheet

+39.7%

$668K→$933K

Current liabilities surged 39.7% — significant near-term obligations; verify ability to meet short-term debt.

Total Assets

Balance Sheet

-31.7%

$6.4M→$4.4M

Total assets contracted 31.7% — asset sales, write-downs, or balance sheet optimization underway.

Net Income

P&L

+24.9%

-$6.2M→-$4.6M

Net income grew 24.9% — bottom-line growth signals improving overall business health.

LANGUAGE CHANGES

NEW — 2026-05-26

PRIOR — 2025-04-30

ADDED

Market for Registrant s Common Stock, Related Shareholder Matters and Issuer Purchases of Equity Securities 41 Item 6.

Exhibits and Financial Statement Schedules 62 i As used in this Annual Report on Form 10-K, unless otherwise indicated, Global Interactive Technologies, Inc.

together with its consolidated subsidiaries, is hereinafter referred to as Global Interactive Technologies us, we, our, or the Company.

These forward-looking statements are subject to numerous risks, including, without limitation, the following: our ability to continue as a going concern given that we have incurred recurring losses from operations, have a working capital deficiency, and our auditors have stated that substantial doubt exists about our ability to continue as a going concern; our ability to obtain significant additional capital, which we may be unable to obtain and will require to continue as a going concern.

( GITS or the Company ), a Delaware corporation formerly known as Hanryu Holdings, Inc., is a technology-focused platform company operating and developing Faning, a global digital fan engagement platform centered on Korean entertainment and culture, including K-pop.

Faning is designed to support online fan communities, content discovery and sharing, user interaction, multilingual communication, user-generated content, and digital engagement experiences across mobile and web-based services.

Corporate Structure and Subsidiaries The Company is a corporation that was incorporated in the state of Delaware on October 20, 2021, as Hanryu Holdings, Inc.

As of December 31, 2025, the Company conducted its core Faning business and platform strategy directly through Global Interactive Technologies, Inc., including platform development, management, commercialization strategy, and related digital services.

FANING KOREA, LLC, a wholly owned subsidiary based in Seoul, Republic of Korea, provides administrative support to the Company in South Korea.

Reverse Stock Split On January 27, 2025, the Company effected a 1-for-20 reverse stock split of its issued and outstanding common stock.

REMOVED

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C.

As of December 31, 2024, the registrant had 52,808,589 shares of Class A Common Stock issued and outstanding.

On January 27, 2025, the Company effected a 1-for-20 reverse stock split of its Common Stock.

Market for Registrant s Ordinary Shares, Related Stockholder Matters and Issuer Purchases of Equity Securities 43 Item 6.

Form 10-K Summary 66 i As used in this Annual Report on Form 10-K, unless otherwise indicated, Global Interactive Technologies, Inc, together with its consolidated subsidiaries, is hereinafter referred to as Global interactive technologies us, we, our, or the Company.

RISK FACTOR SUMMARY Our business is subject to numerous risks and uncertainties, including those highlighted in the section titled Risk Factors.

These risks include, among others, the following: Limited Operating History and Rapid Growth Challenges: As a development-stage company, Global Interactive Technologies has a limited operating history and has grown rapidly since launching its FANING (FANTOO) platform.

However, this growth may not be sustainable, and the company may struggle to manage future expansion, diversify revenue streams, retain users, and adapt to evolving business models and market demands.

Industry and Technological Risks: Operating in the fast-evolving social media and content creation sector, the company faces challenges in keeping up with rapid technological changes and shifting user trends.

Developing new products, features, and technologies is costly and uncertain, and there is no assurance of commercial success or market acceptance.

SIGNAL HISTORY — GITS

2025-04

2026-05

HighMediumLow

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