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Global Warming Solutions, Inc. has submitted its 10-Q filing for the quarterly period ended September 30, 2024.
The filing reports that the company had no revenue for the three and nine months ended September 30, 2024, and 2023. Operating expenses for the three months ended September 30, 2024, were $32,548, compared to $119,172 for the same period in 2023.
The company reported a net operating loss of $47,132 for the three months ended September 30, 2024, compared to a net operating loss of $125,465 for the same period in 2023.
For the nine months ended September 30, 2024, the net loss was $494,718, compared to $501,259 for the same period in 2023.
As of September 30, 2024, Global Warming Solutions, Inc. reported current assets of $1,452 and current liabilities of $515,133, resulting in a working capital deficit of $513,681.
The company used $301,384 in cash from operating activities during the nine months ended September 30, 2024, compared to $367,507 used in the same period in 2023.
Financing activities during the nine months ended September 30, 2024, included $97,500 from the issuance of stock and $169,023 from short-term debt.
The company continues to focus on developing its hydrogen technology and has signed several agreements and letters of intent related to this effort.
Global Warming Solutions, Inc. acknowledges substantial doubt about its ability to continue as a going concern, citing the need for additional funds through debt and equity financing.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Global Warming Solutions Inc quarterly 10-Q report dated November 20, 2024. To report an error, please email earnings@qz.com.