Mon, Jun 24, 8:32 PM (75 days ago)
Global Warming Solutions, Inc. (GWSO) reported financial performance for the fiscal year ended December 31, 2023. The company had no revenue for 2023 and 2022. Operating expenses decreased significantly from $1,236,303 in 2022 to $427,884 in 2023, reducing the net operating loss to $516,266 from $1,277,750. The primary expenses were selling, general, and administrative costs, professional fees, and research and development. The company had a working capital deficit of $143,379 as of December 31, 2023. GWSO's total assets were $237,563, primarily consisting of cash, marketable securities, and other receivables. The company's auditor expressed substantial doubt about its ability to continue as a going concern. Management plans to raise additional funds through debt and equity financing to support operations. Recent strategic moves include acquisitions and partnerships to develop hydrogen technology. However, GWSO faces significant risks, including competition, regulatory challenges, and the need for additional capital.