Hang Muk Shin converts debt to GITS (GITS) shares and warrants in Form 4
Rhea-AI Filing Summary
Global Interactive Technologies, Inc. insider Hang Muk Shin converted approximately $105,444 of outstanding indebtedness into equity under a Debt Conversion Agreement. He received 90,123 shares of common stock at $1.17 per share and 81,739 warrants exercisable at $1.29 per share, all issued on October 29, 2025.
Following the conversion, Mr. Shin holds 285,000 shares of common stock directly and 81,739 warrants expiring on May 7, 2030. He also beneficially owns 151,915 additional shares indirectly, including shares held by his spouse, children, and Sewang Co., Ltd., over which he has voting and dispositive power. All share amounts reflect a 1-for-20 reverse stock split effective January 27, 2025.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 90,123 shares
Net Buy
3 txns
Insider
Shin Hang Muk, Sewang Co., Ltd.
Role
10% Owner | 10% Owner
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Warrant to Purchase Common Stock | 81,739 | $0.00 | $0.00 |
| Conversion | Common Stock, par value $0.001 | 90,123 | $1.17 | $105K |
| holding | Common Stock, par value $0.001 | -- | -- | -- |
Holdings After Transaction:
Warrant to Purchase Common Stock — 81,739 shares (Direct);
Common Stock, par value $0.001 — 285,000 shares (Direct);
Common Stock, par value $0.001 — 151,915 shares (Indirect, See Footnote)
Footnotes (5)
- F1. Represents shares of common stock issued to Mr. Shin upon conversion of approximately $105,444 of outstanding indebtedness pursuant to a Debt Conversion Agreement dated as of May 7, 2025, approved by the Issuer's Board of Directors on June 3, 2025, and issued to Mr. Shin on October 29, 2025.
- F2. Warrants to purchase shares of the Issuer's common stock issued in connection with the conversion of approximately $105,444 of outstanding indebtedness pursuant to a Debt Conversion Agreement dated as of May 7, 2025, approved by the Issuer's Board of Directors on June 3, 2025, and issued to Mr. Shin on October 29, 2025. The warrants are immediately exercisable.
- F3. Represents shares of common stock beneficially owned by Hang Muk Shin, including shares held by his spouse (Taehee Kim) and children (Yi Jun Shin and Yi Hyeon Shin), over which Mr. Shin exercises voting and dispositive power. Mr. Shin disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.
- F4. Represents shares of common stock held by Sewang Co., Ltd., an entity controlled by Hang Muk Shin. Hang Muk Shin may be deemed to have indirect beneficial ownership of these shares by virtue of his control of Sewang Co., Ltd. Each reporting person disclaims beneficial ownership of the securities reported herein except to the extent of their respective pecuniary interest therein.
- F5. All shares reflect a 1-for-20 reverse stock split of the Issuer's shares of common stock, effective January 27, 2025.
Key Figures
Debt converted: $105,444
Common shares received: 90,123 shares
Direct common holdings: 285,000 shares
+3 more
6 metrics
Debt converted
$105,444
Outstanding indebtedness converted to equity for Hang Muk Shin
Common shares received
90,123 shares
Shares issued at $1.17 per share via debt conversion
Direct common holdings
285,000 shares
Total common stock directly owned after transactions
Warrants received
81,739 warrants
Immediately exercisable at $1.29, expiring May 7, 2030
Indirect common holdings
151,915 shares
Beneficially owned via family and Sewang Co., Ltd.
Reverse stock split ratio
1-for-20
Effective January 27, 2025 for common stock
Key Terms
Debt Conversion Agreement, warrants, beneficial ownership, reverse stock split, +1 more
5 terms
Debt Conversion Agreement financial
"outstanding indebtedness pursuant to a Debt Conversion Agreement dated as of May 7, 2025"
warrants financial
"Warrants to purchase shares of the Issuer's common stock issued in connection with the conversion"
Warrants are special documents that give you the right to buy a company's stock at a set price before a certain date. They are often used as a way for companies to attract investors or raise money, and their value can increase if the company's stock price goes up.
beneficial ownership financial
"Represents shares of common stock beneficially owned by Hang Muk Shin"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
reverse stock split financial
"All shares reflect a 1-for-20 reverse stock split of the Issuer's shares of common stock"
A reverse stock split reduces a company's number of outstanding shares while raising the price per share proportionally, so the total value of each investor's holding is unchanged; a 1-for-10 split turns 100 shares worth $1 each into 10 shares worth $10 each. Companies often do this to regain compliance with an exchange's minimum price rule or to attract investors who avoid very low-priced stocks.
voting and dispositive power financial
"over which Mr. Shin exercises voting and dispositive power"
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Hang Muk Shin report in this Form 4 for GITS?
Hang Muk Shin reported converting approximately $105,444 of debt into equity in Global Interactive Technologies, Inc. He received new common shares and warrants, increasing his direct and indirect holdings in the company without any reported open-market purchases or sales.
What warrants did Hang Muk Shin obtain from GITS in this filing?
He obtained warrants to purchase 81,739 shares of Global Interactive Technologies common stock. These warrants have an exercise price of $1.29 per share, were issued on October 29, 2025, are immediately exercisable, and expire on May 7, 2030.
How is the $105,444 debt conversion structured for GITS?
Approximately $105,444 of outstanding indebtedness to Hang Muk Shin was converted into common stock and warrants. This was done under a Debt Conversion Agreement dated May 7, 2025, approved by the board on June 3, 2025, with securities issued on October 29, 2025.
What indirect ownership does Shin report in Global Interactive Technologies (GITS)?
Shin reports beneficial ownership of 151,915 common shares indirectly. These include shares held by his spouse and children and by Sewang Co., Ltd., which he controls. He has voting and dispositive power but disclaims beneficial ownership beyond his pecuniary interest.