In This Story
MS Young Adventure Enterprise Inc (GLVT0.00%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that the company, now operating as Greenlit Ventures Inc, has undergone several name changes since its incorporation in 2016. The company provides marketing and management consulting services to companies in Asia.
Greenlit Ventures Inc reported a net loss of $227,487 for the fiscal year 2024, compared to a net loss of $63,589 in 2023. The increase in net loss is attributed to higher professional fees, including stock-based compensation.
The company has no cash or current assets as of December 31, 2024, and a working capital deficiency of $25,625. This represents an increase in the working capital deficit from the previous year.
Greenlit Ventures Inc has issued convertible notes totaling $163,320, with an interest rate of 8% per annum and a maturity date of December 31, 2027.
The company has identified material weaknesses in its internal controls over financial reporting, including a lack of a functioning audit committee and inadequate segregation of duties.
Greenlit Ventures Inc's continuation as a going concern is dependent on its ability to raise additional financing and generate sufficient cash flows from operations.
The company has one employee, Fu Yong Nan, who serves as Chief Executive Officer, Chief Financial Officer, Secretary, and sole Director.
There is currently no public market for the company's securities, and the company has not paid any dividends to date.
The company has not been involved in any legal proceedings and has no plans to pay dividends in the near future.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the MS Young Adventure Enterprise Inc annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.