Overview
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- TickerGITS on Nasdaq1
- IndustryServices-Computer Programming, Data Processing, Etc.1
- HeadquartersX11
- Incorporated inUnited States2
- Business address160, Yeouiseo-Ro, Yeongdeungpo-Gu, Seoul, M5 072312
- Filer category, Emerging growth company2
- Legal formCorporation
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Inc., including platform development, management, commercialization strategy, and related digital services.3 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Other costs100¢$1.9K
Out of $1.9K in revenue.4 The company lost money this year.
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Sales | $1.9K | |
| Gross profit | $1.9K | |
| Operating cost and expenses | -$2.4M | -$888.4K |
| OPERATING LOSS | -$2.4M | -$888.4K |
| Impairment loss on intangible assets | -$1.0M | -$94.3K |
| Gain on disposal of subsidiary, net | $12.4M | |
| Loss on disposal of tangible assets | -$23.9K | |
| Interest income (expense), net | -$7.0K | -$1.2K |
| Gain on foreign currency transactions | $1.9K | $3.6K |
| Debt Extinguishment loss | -$1.2M | |
| Bad-debt expense of other assets | -$349 | -$16.2M |
| Other expense, net | -$792 | -$73 |
| Net other income | -$2.2M | -$3.9M |
| Net Loss from continuing operations before tax | -$4.6M | -$4.8M |
| Income tax expense | $0 | $0 |
| Net loss from continuing operations | -$4.6M | -$4.8M |
| Net Loss from discontinued operations before tax | -$1.4M | |
| Net Loss from discontinued operations | -$1.4M | |
| Net Loss | -$4.6M | -$6.2M |
| Loss from continuing operations | -$1 | -$2 |
| Loss from discontinued operations | -$1 | |
| Total basic net loss per share | -$1.44 | -$2.34 |
| Loss from continuing operations | -$1 | -$2 |
| Loss from discontinued operations | -$1 | |
| Total diluted net loss per share | -$1.44 | -$2.34 |
| Weighted-average number of shares outstanding, basic | 3.2M shares | 2.6M shares |
| Weighted-average number of shares outstanding, diluted | 3.2M shares | 2.6M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 4 fiscal years (annual) or 4 quarters (quarterly), latest first.4
| Period ending | 2025-12-31 | 2025-01-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and Cash Equivalents | $7.0K | $2.4K | ||
| Short-term loans, net of allowance | $338 | |||
| Accounts receivable, net of allowance | $46 | |||
| Non-trade receivables | $8.5K | $297 | ||
| Prepaid expenses and other receivables | $26.7K | |||
| Total current assets | $42.3K | $3.0K | ||
| PROPERTY AND EQUIPMENT, NET | $1.5K | $2.7K | ||
| INTANGIBLE ASSETS, NET | $3.0M | $4.9M | ||
| OPERATING LEASE RIGHT-OF-USE ASSETS | $1.3M | $1.5M | ||
| PREPAYMENT | $38.7K | |||
| Total Assets | $4.4M | $6.4M | ||
| Non-trade accounts payable | $750.0K | $290.9K | ||
| Accrued expenses and other current liabilities | $61.1K | $7.4K | ||
| Total current liabilities | $933.4K | $668.3K | ||
| Total Liabilities | $933.4K | $668.3K | ||
| Common Stock, $0.001 par value, Authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding after stock split 3,674,208: common shares as of December 31, 2025 Authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding after stock split 2,640,402: common shares as of December 31, 2024 | $3.7K | $2.6K | ||
| Additional paid-in and other capital | $46.5M | $44.3M | ||
| Accumulated deficit | -$42.5M | -$37.9M | ||
| Accumulated other comprehensive income (loss) | -$511.7K | -$666.5K | ||
| Equity attributable to owners of the Company | $3.4M | $5.7M | ||
| Total Stockholders Equity (Deficiency) | $3.4M | $5.7M | $13.1M | |
| Total Liabilities and Stockholders Deficiency | $4.4M | $6.4M | ||
| Common stock, par value | $0.00 | $0.00 | $0.00 | |
| Capital Units, Authorized | 110.0M shares | 110.0M shares | ||
| Common Stock, Shares Authorized | 100.0M shares | 100.0M shares | ||
| Preferred Stock, Shares Authorized | 10.0M shares | 10.0M shares | ||
| Common stock, shares, issued | 3.7M shares | 2.6M shares | 52.8M shares | |
| Common stock, shares, outstanding | 3.7M shares | 2.6M shares | ||
| Number of fractional shares eliminated | 27 shares | |||
| Adjustments to common stock | $1 |
| Period ending | 2025-12-31 | 2025-01-31 | 2024-12-31 | 2023-12-31 |
|---|---|---|---|---|
| Cash and Cash Equivalents | $7.0K | $2.4K | ||
| Short-term loans, net of allowance | $338 | |||
| Accounts receivable, net of allowance | $46 | |||
| Non-trade receivables | $8.5K | $297 | ||
| Prepaid expenses and other receivables | $26.7K | |||
| Total current assets | $42.3K | $3.0K | ||
| PROPERTY AND EQUIPMENT, NET | $1.5K | $2.7K | ||
| INTANGIBLE ASSETS, NET | $3.0M | $4.9M | ||
| OPERATING LEASE RIGHT-OF-USE ASSETS | $1.3M | $1.5M | ||
| PREPAYMENT | $38.7K | |||
| Total Assets | $4.4M | $6.4M | ||
| Non-trade accounts payable | $750.0K | $290.9K | ||
| Accrued expenses and other current liabilities | $61.1K | $7.4K | ||
| Total current liabilities | $933.4K | $668.3K | ||
| Total Liabilities | $933.4K | $668.3K | ||
| Common Stock, $0.001 par value, Authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding after stock split 3,674,208: common shares as of December 31, 2025 Authorized 110,000,000 (common:100,000,000, preferred:10,000,000) shares; Issued and outstanding after stock split 2,640,402: common shares as of December 31, 2024 | $3.7K | $2.6K | ||
| Additional paid-in and other capital | $46.5M | $44.3M | ||
| Accumulated deficit | -$42.5M | -$37.9M | ||
| Accumulated other comprehensive income (loss) | -$511.7K | -$666.5K | ||
| Equity attributable to owners of the Company | $3.4M | $5.7M | ||
| Total Stockholders Equity (Deficiency) | $3.4M | $5.7M | $13.1M | |
| Total Liabilities and Stockholders Deficiency | $4.4M | $6.4M | ||
| Common stock, par value | $0.00 | $0.00 | $0.00 | |
| Capital Units, Authorized | 110.0M shares | 110.0M shares | ||
| Common Stock, Shares Authorized | 100.0M shares | 100.0M shares | ||
| Preferred Stock, Shares Authorized | 10.0M shares | 10.0M shares | ||
| Common stock, shares, issued | 3.7M shares | 2.6M shares | 52.8M shares | |
| Common stock, shares, outstanding | 3.7M shares | 2.6M shares | ||
| Number of fractional shares eliminated | 27 shares | |||
| Adjustments to common stock | $1 |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.4
| Period ending | 2025-12-31 | 2024-12-31 |
|---|---|---|
| Net loss from continuing operations | -$4.6M | -$4.8M |
| Depreciation | $1.2K | $6.4K |
| Amortization | $1.0M | |
| Lease expense | $232.0K | |
| Gain on disposal of subsidiary | -$12.4M | |
| Bad-debt expense of other assets | $349 | $16.2M |
| Loss on disposal of tangible assets | $23.9K | |
| Debt Extinguishment loss | $1.2M | |
| Impairment loss on intangible assets | $1.0M | $94.3K |
| Accounts receivable | -$46 | |
| Non-trade receivable | -$8.2K | $2.2K |
| Prepaid expenses and other current assets | -$26.7K | -$375 |
| Other assets | -$38.7K | $414.6K |
| Non-trade Accounts payable | $459.1K | |
| Accrued expenses and other current liabilities | $53.7K | $6.8K |
| Net cash used in operating activities of continuing operations | -$751.2K | -$456.4K |
| Receipt from collection of short-term loan receivable | $84.2K | |
| Payment for short-term loan receivable | -$14.1K | |
| Proceeds from disposal of property and equipment | $84.1K | |
| Net cash provided by investing activities | $154.1K | |
| Proceeds from exercising Warrants | $178.0K | |
| Net cash provided by financing activities | $757.3K | $368.2K |
| Net change in cash continued operations | $6.1K | $65.9K |
| Net cash used in operating activities of discontinued operations | -$1.2M | |
| Net cash used in investing activities of discontinued operations | -$5.2M | |
| Net cash provided by financing activities of discontinued operations | $311.4K | |
| Net change in cash- discontinued operations | -$6.1M | |
| NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS | $6.1K | -$6.1M |
| EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS | -$1.5K | $656.2K |
| Cash receipt (paid) for interest all operations | -$7.0K | $63 |
| Less Cash receipt for interest - discontinued operations | $63 | |
| Cash receipt (paid) for interest continued operations | -$7.0K | |
| Cash receipt (paid) during the period for interest | -$7.0K | $63 |
| Conversion of related-party debt to equity | $488.1K |
No quarter-by-quarter statement was filed.
Compare Global Interactive Technologies, Inc. with another company
Corporate structure
Global Interactive Technologies, Inc. sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of Global Interactive Technologies, Inc.
- ARMISTICE CAPITAL, LLC Filed SCHEDULE 13G on Global Interactive Technologies, Inc., latest Aug 14, 2026
- Hang Muk Shin Filed SCHEDULE 13D/A on Global Interactive Technologies, Inc., latest Apr 24, 2026 (2 filings since Feb 14, 2024)
- Amy Xianglin Shi Filed SCHEDULE 13D on Global Interactive Technologies, Inc., latest Jun 13, 2025
- Evan Trust Filed SCHEDULE 13D on Global Interactive Technologies, Inc., latest May 22, 2025
- Joshua Ko Filed SC 13D on Global Interactive Technologies, Inc., latest Sep 5, 2023 (2 filings since Sep 5, 2023)
- Global Interactive Technologies, Inc. X1
Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What Global Interactive Technologies, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Computer equipment and software | $4.9M4 Dec 31, 2025 | ||
| Property and equipment, before depreciation | $5.7K4 Dec 31, 2025 | $5.6K4 Dec 31, 2024 | +2.4% |
| Accumulated depreciation | $4.2K4 Dec 31, 2025 | $2.9K4 Dec 31, 2024 | +44.6% |
| Property and equipment, net | $1.5K4 Dec 31, 2025 | $2.7K4 Dec 31, 2024 | −43.8% |
| Operating-lease assets (leased space) | $1.3M4 Dec 31, 2025 | $1.5M4 Dec 31, 2024 | −13.3% |
Investments
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $3.0M4 Dec 31, 2025 | $4.9M4 Dec 31, 2024 | −38.7% |
| Finite-lived intangibles, gross | $4.9M4 Dec 31, 2025 | $4.9M4 Dec 31, 2024 | 0% |
| Accumulated amortization | $1.0M4 Dec 31, 2025 | ||
| Finite-lived intangibles, net | $3.0M4 Dec 31, 2025 |
Properties, in its own words
Our executive offices are located at 160, Yeouiseo-ro, Yeongdeungpo-gu, Seoul, Republic of Korea 07231, and our telephone number is +82-2-564-8588 . We consider our current office space adequate for our current operations.
Item 2 of the 10-K filed May 26, 2026.3
Leadership
Who has led Global Interactive Technologies, Inc., and when. Pick a name to see everywhere that person has worked.
Board members and other officers (1)
- Board memberAmy Xianglin Shi May 22, 2025 to now9
Named in SEC Form D filings
People the company listed in its private-offering notices.
Former names
- Hanryu Holdings, Inc.Feb 16, 2022 to Dec 2, 20242
Timeline
- Sep 10, 20268-K Listing notice or transfer11
- Aug 21, 20268-K Listing notice or transfer; Regulation FD disclosure12
- Jun 30, 20268-K Entered a material agreement; Unregistered sale of shares13
- Jun 25, 20268-K Listing notice or transfer14
- May 22, 20268-K Listing notice or transfer15
- May 21, 20268-K Executive or director change16
- Apr 28, 20268-K Entered a material agreement; New debt or obligation; Unregistered sale of shares17
- Apr 17, 20268-K Listing notice or transfer18
- Mar 30, 20268-K Executive or director change19
- Mar 30, 20268-K Entered a material agreement20
- Mar 19, 20268-K Executive or director change21
- Jan 26, 20268-K Entered a material agreement; Regulation FD disclosure22
Calendar
Coming up
- Nov 11, 2026Reports results for the quarter ending Sep/202623
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
149 filings to the SEC since October 2021: 3 annual reports, 10 quarterly reports, 37 major events, 5 insider forms, 7 large holders, 1 private raises, 86 other. The latest 20:
- Sep 10, 20268-K EDGAR
- Sep 9, 202610-Q EDGAR
- Aug 21, 20268-K EDGAR
- Aug 17, 2026NT 10-Q EDGAR
- Aug 14, 2026SCHEDULE 13G EDGAR
- Aug 11, 2026EFFECT EDGAR
- Aug 6, 2026S-1/A EDGAR
- Jul 29, 2026S-1 EDGAR
- Jul 14, 2026D EDGAR
- Jun 30, 20268-K EDGAR
- Jun 25, 20268-K EDGAR
- Jun 22, 202610-Q EDGAR
- May 26, 202610-K EDGAR
- May 22, 20268-K EDGAR
- May 21, 20268-K EDGAR
- May 14, 2026NT 10-Q EDGAR
- Apr 28, 20268-K EDGAR
- Apr 24, 20264 OWNERSHIP DOCUMENT EDGAR
- Apr 24, 20263 OWNERSHIP DOCUMENT EDGAR
- Apr 24, 2026SCHEDULE 13D/A EDGAR
The 149 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- ARMISTICE CAPITAL, LLCSCHEDULE 13G, 1 filing Aug 14, 202624
- Hang Muk ShinSCHEDULE 13D/A, 2 filings Feb 14, 2024 to Apr 24, 202625
- Amy Xianglin ShiSCHEDULE 13D, 1 filing Jun 13, 202526
- Evan TrustSCHEDULE 13D, 1 filing May 22, 202527
- Joshua KoSC 13D, 2 filings Sep 5, 202328
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
Funding
Where the company's money came from, by calendar year: private offerings filed with the SEC, federal grants, loans, contracts and other assistance from USAspending.gov, and PPP loans from the SBA. Each bar links to the records below.
- Private raises (Form D) $2.0M
Figures by year
| Year | Private raises (Form D) | Total |
|---|---|---|
| 2026 | $2.0M | $2.0M |
Private raises
Private offerings the company reported to the SEC on Form D. The amount is what the latest filing says was sold so far, charted in the year of the first sale. Covers filings since Oct 1, 2021.
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026. Change is in shares since the quarter before.
| Fund | Shares | Value | Share of the fund | Change |
|---|---|---|---|---|
| UBS Group AG | 18,940 | $43.0K | 0.0% | +10,034 |
| Hrt Financial LP | 118,788 | $269 | 0.0% | New |
| Morgan Stanley | 2 | $5 | 0.0% | New |
| Caitong International Asset Management Co., Ltd | 1 | $2 | 0.0% | −3 |
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How Global Interactive Technologies, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARGlobal Interactive Technologies, Inc.1
- CIK0001911545
- Employer ID (EIN)88-13682813
- Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; a shell company3
- Incorporated inDelaware3
- Fiscal year endsDecember 311
- Industry code (SIC)7370 Services-Computer Programming, Data Processing, Etc.1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address160, Yeouiseo-Ro, Yeongdeungpo-Gu, Seoul, M5 072311
- Phone82-2-564-85881
- Shares outstanding4,203,104 as of Sep 9, 20268
- Public float$4.0M as of Jun 30, 20253
- AuditorOnestop Assurance PAC, Singapore PCAOB ID 6732; no auditor attestation of internal control over financial reporting3
- On EDGAR sinceFeb 16, 20221
- Filings149 in all: 8-K (35), S-1/A (19), CORRESP (15), UPLOAD (13), 10-Q (10), NT 10-Q (8), DRSLTR (6), DRS/A (5)1
All 28 form types
10-K (3), 3 (3), NT 10-K (3), S-1 (3), SC 13D (3), 4 (2), 8-K/A (2), DEF 14A (2), DRS (2), EFFECT (2), FWP (2), PRE 14A (2), SCHEDULE 13D (2), 424B4 (1), 8-A12B (1), ARS (1), CERT (1), D (1), SCHEDULE 13D/A (1), SCHEDULE 13G (1)
- Latest filingsAnnual report (10-K) May 26, 2026
Quarterly report (10-Q) Sep 9, 2026
Proxy statement (DEF 14A) Nov 17, 2025
Latest 8-K (8-K) Sep 10, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Class A Common Stock, $0.001 par value per share | GITS | Nasdaq |
From the cover page of the 10-K filed May 26, 2026 (Section 12(b) of the Exchange Act).3
Risk factors and legal proceedings
The risks Global Interactive Technologies, Inc. names in Item 1A of its 10-K filed May 26, 2026: 63 risks under these headings, as written.3
- RISKS RELATED TO OUR BUSINESS
- We have incurred significant losses since our inception, and we intend to continue to invest in our business. As a result, we may continue to experience losses in the future.
- Our auditor has included an explanatory paragraph in their opinion regarding our ability to continue as a going concern. If we are unable to continue as a going concern, our securities will have little or no value.
- To continue as a going concern, we will require significant additional capital, which we may be unable to obtain.
- We are a development stage company, and we may not be able to generate or sustain our growth or implement our business strategies.
- We are subject to risks associated with operating in a rapidly developing industry and a relatively new market.
- Our success depends on our ability to develop products and services to address the rapidly evolving market for the content creation and social media platform industry, and, if we are not able to implement successful enhancements and new features for our products and services, our business could be materially and adversely affected.
- As a creator and a distributor of digital media content, we face liability and expenses for legal claims based on the nature and content of the materials that we create or distribute, including materials provided by third parties. If we are required to pay damages or expenses in connection with these legal claims, our business and results of operations may be harmed.
- Our dependence on third-party relationships with content producers and distribution channels to develop and distribute entertainment content is critical to the success of the Faning Platform.
- Our decision not to provide products and services and to restrict user access in China (including Hong Kong and Macau) will limit our total addressable market and may limit our ability to grow our business.
- If our content streaming initiatives are unsuccessful, our business, financial condition or results of operations could be adversely affected.
- We are dependent on the continued services and on the performance of key third party content contributors, the loss of which could adversely affect our business.
The other 52 risks
- Substantial and increasingly intense competition in the social media platform and content creation industry may harm our business.
- Systems failures, interruptions, delays in service, catastrophic events, and resulting interruptions in the availability of our products or services could harm our business and our brand, and subject us to substantial liability.
- Our success depends largely on the continued service and availability of key personnel.
- From time to time, we may become involved in legal proceedings.
- The preparation of our financial statements involves the use of good faith estimates, judgments and assumptions, and our financial statements may be materially affected if such good faith estimates, judgments or good faith assumptions prove to be inaccurate.
- We currently have ineffective internal control over financial reporting.
- RISKS RELATED TO GOVERNMENT REGULATION
- Actions by governments that restrict access to Faning in their countries, or that otherwise impair our ability to sell advertising in their countries, could substantially harm our business and financial results.
- Payment transactions may subject us to additional regulatory requirements and other risks that could be costly and difficult to comply with or that could harm our business.
- Changes in tax laws or regulations that are applied adversely to us or our customers may have a material adverse effect on our business, cash flow, financial condition or results of operations.
- Failure to comply with the U.S. Foreign Corrupt Practices Act could result in fines, criminal penalties and an adverse effect on our business.
- RISKS RELATED TO DOING BUSINESS IN KOREA
- Fluctuations in exchange rates could result in foreign currency exchange losses to us.
- Tensions with North Korea could have an adverse effect on our business, financial condition, results of operations, and the price per share of our common stock.
- There are special risks involved with investing in Korean companies, including the possibility of restrictions being imposed by the Korean government in emergency circumstances, accounting and corporate disclosure standards that differ from those in other jurisdictions, and the risk of direct or vicarious criminal liability for executive officers of our Korean affiliates.
- Our Korean subsidiary, FANING KOREA, LLC, may be designated as an affiliated group under Korean law, in which case the group of companies would be required to make certain disclosures and implement additional corporate governance requirements.
- FANING KOREA, LLC is subject to certain requirements and restrictions under Korean law that may, in certain circumstances, require it to act in a manner that may not be in our or our stockholders’ best interest.
- FANING KOREA, LLC’s transactions with related parties are subject to close scrutiny by the Korean tax authorities, which may result in adverse tax consequences.
- If we are deemed to have a “place of effective management” in Korea, we will be treated as a Korean company for the purpose of Korean corporate income tax with regards to our worldwide income.
- If we are deemed to have a “permanent establishment” in Korea, we will be subject to Korean corporate income tax with regards to any Korean source income attributable to or effectively connected with such permanent establishment.
- A focus on regulating copyright and patent infringement by the Korean government subjects us to extra scrutiny in our operations and could subject us to sanctions, fines, or other penalties, which could adversely affect our business and operations in Korea.
- Our business may be adversely affected by developments that negatively impact the Korean economy and uncertainties in economic conditions that impact spending patterns of our customers in Korea.
- New legislative proposals may expose our business to additional risks from litigation, regulation, and government investigations.
- As FANING KOREA, LLC is incorporated in Korea, it may be more difficult to enforce judgments obtained in courts outside Korea.
- RISKS RELATED TO OUR TECHNOLOGY
- Technology changes rapidly in our business and if we fail to anticipate or successfully implement new technologies or adopt new business strategies, technologies or methods, the quality and competitiveness of our service offerings may suffer.
- There may be losses or unauthorized access to or releases of confidential information, including personally identifiable information (“PII”), that could subject the Company to significant reputational, financial, legal and operational consequences.
- We use third-party services and technologies in connection with our business, and any disruption to the provision of these services and technologies to us could result in negative publicity and a slowdown in the growth of our users, which could materially and adversely affect our business, financial condition and results of operations.
- Growth of our client base depends upon effective interoperability with mobile operating systems, networks, mobile devices and standards that we do not control.
- Security breaches, improper access to or disclosure of our data or user data, other hacking and phishing attacks on our systems, or other cyber incidents could harm our reputation and adversely affect our business.
- We anticipate that our ongoing efforts related to privacy, safety, security, and content review will identify instances of misuse of user data or other undesirable activity by third parties on our platform.
- Our products and internal systems rely on software and hardware that is highly technical, and any errors, bugs, or vulnerabilities in these systems, or failures to address or mitigate technical limitations in our systems, could adversely affect our business.
- RISKS RELATED TO DIGITAL ASSETS
- Regulatory changes or actions may restrict the use of digital assets in a manner that adversely affects our business, prospects or operations.
- Users of Faning are issued FP for engaging and transacting within the Company’s ecosystem. FP may be subject to various regulations in South Korea that restrict or limit the use of FP on Faning.
- We may have security laws exposure relating to the previous issuances of Kingdom Coin.
- RISKS RELATED TO INTELLECTUAL PROPERTY
- We may be subject to claims of infringement of third-party intellectual property rights.
- Our technology, content and brands are subject to the threat of piracy, unauthorized copying and other forms of intellectual property infringement.
- We may not be able to prevent others from unauthorized use of our intellectual property, which could harm our business and competitive position.
- We received a notice from Nasdaq that our common stock may be delisted from trading on the Nasdaq Capital Market if we fail to comply with the continued listing requirements, including the timely filing requirements of all required periodic reports with the SEC. A delisting of our common stock is likely to reduce the liquidity of our common stock and may inhibit or preclude our ability to raise additional financing.
- Our stock price may be volatile, and you could lose all or part of your investment.
- If securities industry analysts do not publish research reports on us, or publish unfavorable reports on us, then the market price and market trading volume of our common stock could be negatively affected.
- You will experience dilution as a result of future equity offerings.
- We have not paid cash dividends in the past and do not expect to pay dividends in the future. Any return on investment will likely be limited to the value of our common stock.
- Future issuances of debt securities, which would rank senior to our common stock upon our bankruptcy or liquidation, and future issuances of preferred stock, which would rank senior to our common stock for the purposes of dividends and liquidating distributions, may adversely affect the level of return you may be able to achieve from an investment in our common stock.
- We may need to implement additional finance and accounting systems, procedures and controls as we grow our business and organization and to satisfy new reporting requirements.
- We are an emerging growth company, and any decision on our part to comply only with certain reduced reporting and disclosure requirements applicable to emerging growth companies could make our common stock less attractive to investors.
- We will incur increased costs as a result of being a public company, particularly after we cease to qualify as an “emerging growth company.”
- Because of our status as an emerging growth company, you will not be able to depend on any attestation from our independent registered public accounting firm as to our internal control over financial reporting for the foreseeable future.
- Our common stock is subject to the “penny stock” rules of the SEC, which makes transactions in our stock cumbersome and may reduce the value of an investment in our stock.
- FINRA sales practice requirements may limit a stockholder’s ability to buy and sell our stock.
- We are a smaller reporting company and will be exempt from certain disclosure requirements, which could make our common stock less attractive to potential investors.
- If we fail to remediate our internal control weaknesses and maintain an effective system of internal controls over financial reporting, we may be unable to accurately report our results of operations, meet our reporting obligations or prevent fraud, and investor confidence and the market price of our common stock may be materially and adversely affected.
- We may need additional capital, and we may be unable to obtain such capital in a timely manner or on acceptable terms, or at all. Furthermore, our future capital needs may require us to sell additional equity or debt securities that may dilute our stockholders or introduce covenants that may restrict our operations or our ability to pay dividends.
- Substantial future sales or perceived potential sales of our common stock in the public market could cause the price of our common stock to decline.
- Our certificate of incorporation designates a state or federal court located within the State of Delaware as the exclusive forum for certain litigation that may be initiated by our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us.
Legal proceedings
As of the filing of this Annual Report on Form 10-K, 2026, the Company is not subject to any material pending legal proceedings or claims. Previously disclosed legal matters were associated with subsidiaries that have since been divested and no longer affect the Company’s operations or financial position.
The opening of Item 3, Legal Proceedings.3
Sources
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- 9SEC EDGARAmy Xianglin Shi, Board member
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- 16SEC EDGARExecutive or director change
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- 18SEC EDGARListing notice or transfer
- 19SEC EDGARExecutive or director change
- 20SEC EDGAREntered a material agreement
- 21SEC EDGARExecutive or director change
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- 23NasdaqNasdaq calendar
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