Global AI, Inc. SEC 10-K Report

Global AI, Inc., formerly known as Wall Street Media Co., Inc., has released its annual Form 10-K report, detailing the company's financial performance, business operations, strategic initiatives, and the challenges it faces. The company focuses on developing AI products and acquiring AI-based technology companies, aiming to integrate and develop machine learning, deep learning, generative AI, computer vision, and natural language processing technologies.

Financial Highlights

• Total Revenues: $24,896, representing a decrease of 27% from the previous year due to a decline in consulting services provided.
• Gross Profit (Loss): $9,552, reflecting the impact of reduced revenues.
• Loss from Operations: $(1,001,095), an increase of 58% compared to the previous year, primarily due to increased operating expenses.
• Net Loss: $(1,001,095), compared to $(637,447) in the previous year, driven by higher operating expenses.
• Net Loss per Share, Basic and Diluted: $(0.01), reflecting the increased net loss.

Business Highlights

• Company Overview: Global AI, Inc. focuses on developing AI products and acquiring AI-based technology companies. The company aims to integrate and develop machine learning, deep learning, generative AI, computer vision, and natural language processing technologies.
• Acquisition Strategy: The company targets acquisitions that are scalable and have revenue models supporting tangible growth. It plans to integrate acquired companies to expand their customer base and enhance their products and services.
• R&D and Innovation Lab: In December 2024, Global AI formed a dedicated R&D and Innovation Lab to develop AI products and solutions. The lab focuses on secure, scalable, and privacy-centric AI applications, employing 14 senior AI specialists and software engineers.
• Subsidiary Establishment: In December 2024, Global AI established a subsidiary in Israel named GL AI Ltd. This move aligns with the company's strategy to expand its presence and operations in international markets.
• First Commercial Contract: In December 2024, the company signed its first commercial contract with an enterprise customer in Israel, marking a significant milestone in its operational expansion.
• Share Purchase Agreement: On December 31, 2024, Global AI entered into a Share Purchase Agreement to acquire Tectu Biz Ltd., an Israeli company, for $1,000,000. This acquisition is expected to enhance the company's capabilities and market reach.
• Forward Stock Split: On January 29, 2024, the company executed a 4-for-1 forward stock split, increasing the number of shares outstanding and potentially enhancing liquidity and marketability of its stock.
• Future Outlook: Management is actively seeking investor funding and exploring strategic alternatives, including potential mergers or combinations with other companies, to improve liquidity and financial position.

Strategic Initiatives

• Strategic Acquisitions: Global AI, Inc. has been actively pursuing strategic acquisitions in the AI sector, focusing on machine and deep learning, generative AI, computer vision, and natural language processing. The company aims to integrate and develop these acquisitions to expand their customer base and enhance product offerings.
• R&D and Innovation Lab: The company formed a dedicated R&D and Innovation Lab to develop AI products and solutions, hiring 14 senior AI specialists to lead these efforts.
• Capital Management: The company executed a 4-for-1 forward stock split on January 29, 2024, increasing the number of shares of Class A and Class B common stock. Ingenious Investment AG acquired 92.7% of the company's outstanding shares in September 2023. The company also issued 550,000 shares of common stock for $1,100,000 in January 2025 to improve liquidity. As of December 31, 2024, the company had a working capital deficit of $299,893 and cash on hand of $9,929, with management actively seeking investor funding and strategic alternatives to improve financial position.
• Future Outlook: Global AI, Inc. plans to continue its focus on acquiring and integrating AI-based technology companies to drive growth. The company is also exploring strategic alternatives, including potential mergers or combinations with other operating companies, to enhance liquidity and financial stability. Management is committed to leveraging synergies across acquisitions and centralizing back-office functions to optimize operations.

Challenges and Risks

• Early Operational Stage: Global AI, Inc. is in the early stages of developing a suite of AI products and acquiring AI-based technology companies. The company faces significant challenges in integrating and developing these acquisitions to achieve market acceptance and revenue growth.
• Unproven Business Model: The company's strategy involves leveraging an Agentic-AI approach and centralizing administrative functions to achieve cost and revenue synergies. However, the business model is unproven, and the company has a history of operating losses, with an accumulated deficit of $3,052,489 as of December 31, 2024.
• Going Concern: There are doubts about the company's ability to continue as a going concern due to the need for additional capital and the challenges in raising funds, especially since the stock is not listed on a major exchange.
• Intense Competition: The company faces intense competition in the AI technology services industry, with larger competitors having greater resources.
• Penny Stock Classification: The company's stock is classified as a 'penny stock,' which may limit trading activity and liquidity.
• Management Strategies: The company is actively seeking investor funding and exploring strategic alternatives, including potential mergers, to improve its financial position. Recent developments include the formation of an R&D and Innovation Lab and the establishment of a subsidiary in Israel, which are part of the company's strategy to drive AI innovation and expand its market presence.

SEC Filing: Global AI, Inc. [ GLAI ] - 10-K - Jun. 16, 2025