SHARE CAPITAL |
6 Months Ended |
|---|---|
Jun. 30, 2026 | |
| Equity [Abstract] | |
| SHARE CAPITAL | NOTE 11 — SHARE CAPITAL
As of June 30, 2026 and December 31, 2025, Global Interactive Technologies’ total authorized capital stock is 110,000,000 shares, consisting of shares of Common Stock, par value $ per share, and shares of undesignated preferred stock, par value $ per share.
On January 27, 2025, the Company effected a 1-for-20 reverse stock split of its issued and outstanding common shares. As a result of the reverse stock split, every 20 shares of the Company’s issued and outstanding common stock were combined into one share, reducing the total number of issued shares from to . The par value per share is $. All share and per-share amounts in the accompanying consolidated financial statements and related notes have been retroactively adjusted to reflect the reverse stock split for all periods presented.
GLOBAL INTERACTIVE TECHNOLOGIES, INC. AND SUBSIDIARIES Notes to Condensed Consolidated Financial Statements
NOTE 11 — SHARE CAPITAL (cont.)
On March 19, 2025, the Company issued shares of Common Stock at a price of $ per share in connection with the conversion of $210,000 of debt owed to Evan Trust.
On May 7, 2025, the Company issued shares of Common Stock at a price of $1.19 per share, plus warrants to purchase shares of Common Stock at an exercise price of $1.29 per share, expiring on the fifth anniversary of the issuance date, in connection with the conversion of $105,444 of debt owed to Hangmuk Shin.
On May 7, 2025, the Company issued shares of Common Stock at a price of $1.27 per share, plus warrants to purchase shares of Common Stock at an exercise price of $1.42 per share, expiring on the fifth anniversary of the issuance date, in connection with the conversion of $175,205 of debt owed to Jeyoun Baeg.
On May 7, 2025, the Company issued shares of Common Stock at a price of $ per share, plus warrants to purchase 125,383 shares of Common Stock at an exercise price of $1.42 per share, expiring on the fifth anniversary of the issuance date, in connection with the conversion of $175,205 of debt owed to Jungok You. On August 19, 2025, warrants totaling $178,044 were exercised for cash at an exercise price of $1.42 per share, resulting in the issuance of shares of Common Stock.
On May 20, 2025, the Company issued shares of Common Stock at a price of $0.7 per share in connection with the conversion of $172,666 of debt owed to PixelArc LLC.
On June 25, 2026, the Company entered into a securities purchase agreement with an institutional investor for the issuance and sale, in a private placement, of (i) pre-funded warrants to purchase up to 1,092,896 shares of Common Stock (the “Pre-Funded Warrants”) and (ii) accompanying warrants to purchase up to 1,092,896 shares of Common Stock (the “Common Stock Warrants”), at a combined purchase price of $1.829 per Pre-Funded Warrant and accompanying Common Stock Warrant. The placement closed on June 29, 2026, and no shares of Common Stock were issued at the closing. Gross proceeds were $1,998,907, before deducting placement agent fees and expenses of $189,999 withheld at closing, for net proceeds of $1,808,907, which were credited to additional paid-in capital. The Pre-Funded Warrants have an exercise price of $0.001 per share, are immediately exercisable and may be exercised at any time until exercised in full. The Common Stock Warrants have an exercise price of $1.83 per share, subject to adjustment, become exercisable on December 25, 2026 and expire on December 25, 2031. In connection with the private placement, the Company entered into a registration rights agreement requiring the Company to register the resale of the shares issuable upon exercise of the Pre-Funded Warrants and Common Stock Warrants, and the Company filed the required registration statement on Form S-1 on July 29, 2026. The terms of, and the accounting for, the warrants are described in Note 17. As of June 30, 2026, shares of Common Stock were reserved for issuance upon exercise of the warrants.
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