Global-Smart.Tech Inc. (NASDAQ: GSMT) flags going concern risk amid small cloud revenue

Rhea-AI Filing Summary

Global-Smart.Tech Inc. reported a small but growing cloud-rendering business with ongoing losses and a going concern warning. For the nine months ended February 28, 2026, revenue rose to $57,826 from $1,200 a year earlier, reflecting early-stage growth in its GPU-based rendering services.

The company still operates at a loss, posting a net loss of $78,061 for the nine-month period and an accumulated deficit of $348,666. As of February 28, 2026, it held only $7,177 in cash and had a stockholders’ deficit of $309,619, while relying on a related-party loan with a balance of $434,425. Management states these factors raise substantial doubt about its ability to continue as a going concern and plans to rely on additional equity or debt financing and related-party funding.

Positive

• None.

Negative

• Going concern uncertainty: Management states that accumulated losses of $348,666, operating cash outflows of $17,279, and ongoing net losses raise substantial doubt about the company’s ability to continue as a going concern.
• Highly leveraged to related-party debt: As of February 28, 2026, a related-party loan from the CEO totaled $434,425, driving total liabilities above total assets and contributing to a stockholders’ deficit of $309,619.
• Very limited liquidity: The company reported cash of only $7,177 as of February 28, 2026, leaving little buffer to absorb continued operating losses or fund growth without new financing.

Insights

Small-cap equity analyst

Early revenue traction but severe balance-sheet weakness and going concern risk.

Global-Smart.Tech Inc. shows strong percentage growth in cloud-rendering revenue, reaching $57,826 for the nine months ended February 28, 2026. However, the absolute scale remains very small, and operations are still loss-making with a nine‑month net loss of $78,061.

The balance sheet is highly stressed. Total assets were just $167,124, against total liabilities of $476,743, producing a stockholders’ deficit of $309,619. A related-party loan from the CEO accounts for $434,425 of liabilities, underscoring dependence on insider financing.

Management explicitly states that the accumulated deficit of $348,666, operating cash outflow of $17,279, and continued net losses raise “substantial doubt” about the company’s ability to continue as a going concern. Future progress will depend on securing additional financing and scaling cloud-rendering revenues, as described for the period through February 28, 2026.

Key Figures

Nine-month revenue: $57,826 Nine-month net loss: $78,061 Accumulated deficit: $348,666 +5 more

8 metrics

Nine-month revenue $57,826 Revenue for the nine months ended February 28, 2026

Nine-month net loss $78,061 Net loss for the nine months ended February 28, 2026

Accumulated deficit $348,666 Accumulated deficit as of February 28, 2026

Cash balance $7,177 Cash as of February 28, 2026

Related-party loan $434,425 Loan from officer/director as of February 28, 2026

Stockholders’ deficit $309,619 Total stockholders’ equity (deficit) as of February 28, 2026

Shares outstanding 6,134,780 shares Common shares issued and outstanding as of April 8, 2026

Three-month revenue $14,052 Revenue for the three months ended February 28, 2026

Key Terms

going concern, cloud-rendering services, deferred revenue, related party, +2 more

6 terms

going concern financial

"These factors raise substantial doubt about our ability to continue as a going concern."

A going concern is a business that is expected to continue its operations and meet its obligations for the foreseeable future, rather than shutting down or selling off assets. This assumption matters to investors because it indicates stability and ongoing profitability, making the business a more reliable investment. Think of it as believing a restaurant will stay open and serve customers, rather than closing down suddenly.

cloud-rendering services financial

"we have transitioned our operations to incorporate cloud-rendering services."

deferred revenue financial

"Deferred revenue was $6,768 and $4,000, as of February 28, 2026 and May 31, 2025, respectively."

Cash a company has already received for goods or services it has promised but not yet delivered; it's recorded as a liability because the company still owes that product, service, or future revenue recognition. For investors, deferred revenue signals upcoming work or deliveries that will convert into reported sales over time and affects short-term obligations, cash flow quality, and how quickly a firm can grow recognized revenue—think of it like prepaid subscriptions or gift cards a business must honor later.

related party financial

"Loan from Related Parties | | 434,425 | | 430,115"

A related party is a person or organization with close ties to a company — for example major shareholders, board members, executives, their family, or businesses they control — that can influence decisions or enter into transactions with the company. Investors watch related‑party dealings because they can create conflicts of interest or non‑market terms that affect fairness, the company’s finances and transparency; think of it like buying or selling something to a family member rather than on the open market.

ASC 606 financial

"The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers."

A U.S. accounting standard that sets consistent rules for when and how companies record revenue from contracts with customers, focusing on the transfer of promised goods or services. It matters to investors because it affects the timing and amount of reported sales and profit—like deciding whether a contractor can count payment when a job starts, progresses, or finishes—so it improves comparability and helps assess a company's true economic performance.

emerging growth company regulatory

"Smaller reporting company | [X] (Do not check if a smaller reporting company) | Emerging growth company | [X]"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

10-Q Quarterly Reports: What Changes Quarter to Quarter →

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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

Form 10-Q

[X] Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the quarterly period ended February 28, 2026

[ ] Transition Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from __________ to __________

Commission file number 000-56781

Global-Smart.Tech Inc.

(Exact name of registrant as specified in its charter)

Wyoming (State or Other Jurisdiction of Incorporation or Organization) 7370 (Primary Standard Industrial Classification Number) 98-1664763 (IRS Employer Identification Number)

Yehor Rodin

Kava b.b.

85320, Tivat, Montenegro

+1205-2165924

(Address, including zip code, and telephone number, including area code, of registrant’s principal executive offices)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
-	-	-

Securities registered pursuant to Section 12(b) of the Act:

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15 (d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.

Yes [X]       No [ ]

Indicate by check mark whether the registrant has submitted electronically on its corporate Web site, if any, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this

chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).

Yes [X]       No [ ]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of “large accelerated filer,” “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act:

Large accelerated filer	[ ]	Accelerated filer	[ ]
Non-accelerated filer	[ ]	Smaller reporting company	[X]
(Do not check if a smaller reporting company)		Emerging growth company	[X]

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.

Yes [ ]       No [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).

Yes []       No [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:  6,134,780 common shares issued and outstanding as of April 8, 2026.

2

Global-Smart.Tech Inc.

Quarterly report on form 10-Q

TABLE OF CONTENTS

		Page
PART I	FINANCIAL INFORMATION:
Item 1.	Condensed Financial Statements (Unaudited)	4
	Condensed Balance Sheets as of February 28, 2026 (Unaudited) and May 31, 2025	5
	Condensed Statements of Operations for the three and nine months ended February 28, 2026 and 2025 (Unaudited)	6
	Condensed Statements of Changes in Stockholders’ Equity (Deficit) for the three and nine months ended February 28, 2026 and 2025 (Unaudited)	7
	Condensed Statements of Cash Flows for the nine months ended February 28, 2026 and 2025 (Unaudited)	8
	Notes to the Condensed Financial Statements (Unaudited)	9
Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	14
Item 3.	Quantitative and Qualitative Disclosures About Market Risk	18
Item 4.	Controls and Procedures	18
PART II	OTHER INFORMATION:
Item 1.	Legal Proceedings	19
Item 1A	Risk Factors	19
Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	19
Item 3.	Defaults Upon Senior Securities	19
Item 4.	Submission of Matters to a Vote of Securities Holders	19
Item 5.	Other Information	19
Item 6.	Exhibits	19
	Signatures	20

3

PART I – FINANCIAL INFORMATION

Item 1. Financial Statements

The accompanying interim financial statements of Global-Smart.Tech Inc. (the “Company”, “we”, “us” or “our”), have been prepared without audit pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with United States generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations.

The interim financial statements are condensed and should be read in conjunction with the Company’s latest annual financial statements.

In the opinion of management, the financial statements contain all material adjustments, consisting only of normal recurring adjustments, considered necessary to present fairly the financial condition, results of operations, and cash flows of the Company for the interim periods presented.

4

Global-Smart.Tech Inc.

Condensed Balance Sheets

		February 28, 2026		May 31, 2025
		(Unaudited)
Assets
Current Assets
Cash	$	7,177	$	12,943
Prepaid Expenses		25,930		18,295
Total Current Assets		33,107		31,238
Fixed Assets
Equipment, net		131,917		186,516
Website Development, net		2,100		3,150
Total Fixed Assets		134,017		189,666
Total Assets	$	167,124	$	220,904
Liabilities and Stockholders’ Equity (Deficit)
Current Liabilities
Accounts Payable	$	10,000	$	-
Accrued Salaries		25,550		25,550
Deferred Revenue		6,768		4,000
Loan from Related Parties		434,425		430,115
Total Current Liabilities		476,743		459,665
Total Liabilities		476,743		459,665
Stockholders’ Equity (Deficit)
Common Stock ($0.001 par value, 75,000,000 shares authorized; 6,134,780 and 5,894,680 shares issued and outstanding as of February 28, 2026 and May 31, 2025, respectively)		6,135		5,895
Additional Paid-in Capital		32,909		25,946
Accumulated Other Comprehensive Income		3		3
Accumulated Deficit		(348,666)		(270,605)
Total Stockholders’ Equity (Deficit)		(309,619)		(238,761)
Total Liabilities & Stockholders’ Equity (Deficit)	$	167,124	$	220,904

See accompanying notes, which are an integral part of these condensed financial statements

5

Global-Smart.Tech Inc.

Condensed Statements of Operations

(Unaudited)

		Three months ended February 28, 2026		Three months ended February 28, 2025		Nine months ended February 28, 2026		Nine months ended February 28, 2025
Revenues	$	14,052	$	1,200	$	57,826	$	1,200
Operating Expenses
Professional Fees		3,600		3,567		39,830		26,263
Depreciation Expense		18,550		18,549		55,649		55,648
General and Administrative Expenses		16,848		-		40,408		25,612
Total operating expenses		38,998		22,116		135,887		107,523
Net loss from operations		(24,946)		(20,916)		(78,061)		(106,323)
Provision for Income Taxes		-		-		-		-
Net Loss	$	(24,946)	$	(20,916)	$	(78,061)	$	(106,323)
Loss per common share – Basic & Diluted	$	(0.00)	$	(0.00)	$	(0.01)	$	(0.02)
Weighted Average Number of Common Shares Outstanding – Basic & Diluted		6,134,780		5,000,000		6,107,900		5,000,000

See accompanying notes, which are an integral part of these condensed financial statements.

6

Global-Smart.Tech Inc.

Condensed Statements of Changes in Stockholders’ Equity (Deficit)

For the three and nine months ended February 28, 2026 and 2025

(Unaudited)

	Common Stock
	Shares		Amount		Additional Paid-in- Capital		Accumulated Deficit		Accumulated Other Comprehensive Income		Total
Balance as of May 31, 2024	5,000,000	$	5,000	$	-	$	(146,231)	$	3	$	(141,228)
Net loss	-		-		-		(27,549)		-		(27,549)
Balance as of August 31, 2024	5,000,000		5,000		-		(173,780)		3		(168,777)
Net loss	-		-		-		(57,858)		-		(57,858)
Balance as of November 30, 2024	5,000,000		5,000		-		(231,638)		3		(226,635)
Net loss	-		-		-		(20,916)		-		(20,916)
Balance as of February 28, 2025	5,000,000	$	5,000	$	-	$	(252,554)	$	3	$	(247,551)
Balance as of May 31, 2025	5,894,680	$	5,895	$	25,946	$	(270,605)	$	3	$	(238,761)
Common Shares Issued for Cash	240,100		240		6,963		-		-		7,203
Net loss	-		-		-		(46,676)		-		(46,676)
Balance as of August 31, 2025	6,134,780		6,135		32,909		(317,281)		3		(278,234)
Net loss	-		-		-		(6,439)		-		(6,439)
Balance as of November 30, 2025	6,134,780		6,135		32,909		(323,720)		3		(284,673)
Net loss	-		-		-		(24,946)		-		(24,946)
February 28, 2026	6,134,780	$	6,135	$	32,909	$	(348,666)	$	3	$	(309,619)

See accompanying notes, which are an integral part of these condensed financial statements.

7

Global-Smart.Tech Inc.

Condensed Statements of Cash Flows

(Unaudited) 

		Nine months ended February 28, 2026		Nine months ended February 28, 2025
OPERATING ACTIVITIES
Net Loss	$	(78,061)	$	(106,323)
Adjustments to reconcile Net Loss to Net Cash Used in Operating Activities
Depreciation Expense		55,649		55,648
Changes in Assets and Liabilities:
Accrued Salaries		-		25,550
Prepaid expense		(7,635)		-
Accounts Payable		10,000		213
Deferred Revenue		2,768		-
Net Cash Used in Operating Activities		(17,279)		(24,912)
INVESTING ACTIVITIES
Net Cash Used in Investing Activities		-		-
FINANCING ACTIVITIES
Proceeds from Loan from Related Parties		4,310		26,112
Repayment to Loan from Related Parties		-		(1,200)
Proceeds from the Sale of Common Stock		7,203		-
Net Cash Provided by Financing Activities		11,513		24,912
Net Cash Increase (Decrease) for the Period		(5,766)		-
Cash at Beginning of Period		12,943		-
Cash at End of Period	$	7,177	$	-
SUPPLEMENTAL SCHEDULE OF CASH FLOW INFORMATION:
Cash Paid for:
Interest	$	-	$	-
Income Tax	$	-	$	-

See accompanying notes, which are an integral part of these condensed financial statements.

8

Global-Smart.Tech Inc.

Notes to the Condensed Financial Statements

February 28, 2026

(Unaudited)

NOTE 1. The Company

Global-Smart.Tech Inc. (the “Company”) was incorporated under the laws of the State of Wyoming on April 15, 2022. The Company initially established with a primary focus on leasing power to clients. However, to optimize resource utilization and enhance profitability, we have transitioned our operations to incorporate cloud-rendering services.

NOTE 2. Going Concern

Our financial statements have been prepared on a going concern basis which assumes that we will be able to realize our assets and discharge our liabilities and commitments in the normal course of business for the foreseeable future. As of February 28, 2026 Global-Smart.Tech Inc. has an accumulated deficit of $348,666 and during the nine months ended February 28, 2026, used cash in operations of $17,279 and has reported a net loss of $78,061 These factors raise substantial doubt about our ability to continue as a going concern.

Our ability to continue as a going concern is dependent upon our generating profitable operations in the future and/or to obtain the necessary financing to meet our obligations and repay our liabilities arising from normal business operations when they come due. Our management intends to finance operating costs over the next twelve months with equity or debt financing, related party loans, and the sale of services. While we believe that we will be successful in obtaining the necessary financing and generating revenue to fund our operations, meet regulatory requirements, and achieve commercial goals, there are no assurances that such additional funding will be achieved and that we will succeed in our future operations.

NOTE 3. Summary of Significant Accounting Policies

Interim Financial Statements

The unaudited condensed interim financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States (“US GAAP”) for interim financial information and the instructions to Form 10-Q and Rule 8-03 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by US GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring accruals) considered necessary for a fair presentation have been included. The results of operations for such periods are not necessarily indicative of the results expected for a full year or for any future period. They do not include all of the information and footnotes required by US GAAP for complete financial statements. Therefore, these financial statements should be read in conjunction with the Company’s audited financial statements and notes for the year ended May 31, 2025.

Basis of Presentation

The Company uses the accrual basis of accounting and accounting principles. The financial statements of the Company have been prepared in accordance with generally accepted accounting principles in the United States of America and are presented in US dollars. The Financial Statements and related disclosures have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission (“SEC”). The Company has elected May 31st as its fiscal year end.

9

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

Foreign Currency

The Company’s functional and reporting currency is the U.S. dollar. Transactions may occur in foreign currencies and management has adopted Accounting Standards Codification (“ASC”) 830, Foreign Currency Translation Matters. Monetary assets and liabilities denominated in foreign currencies are translated using the exchange rate prevailing at the balance sheet date. The Company is located in Montenegro. However, the Company's cash flows and expenses are primarily denominated in United States Dollars (USD) due to the nature of its operations. Accordingly, the Board of Directors has determined that USD is the Company's functional currency for the purposes of preparing the financial statements. For realized gains and losses: these are reported in the income statement, typically as a separate line item or combined with other income or expense items. For the nine months ended February 28, 2026 and 2025, we didn’t recognize any foreign currency loss.

Transaction gains or losses result from a change in exchange rates between the functional currency and the currency in which a foreign currency transaction is denominated. They represent an increase or decrease in both of the following:

- the actual functional currency cash flows realized upon settlement of foreign currency transactions

- the expected functional currency cash flows on unsettled foreign currency transactions 

Non-monetary assets and liabilities denominated in foreign currencies are translated at rates of exchange in effect at the date of the transaction. Average monthly rates are used to translate revenues and expenses. Gains and losses arising on translation or settlement of foreign currency denominated transactions or balances are included in the statement.

Revenue Recognition

The Company recognizes revenue in accordance with ASC 606, Revenue from Contracts with Customers. The core principle of ASC 606 is that an entity recognizes revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services.

An entity recognizes revenue in accordance with that core principle by applying the following steps: Step 1: Identify the contract(s) with a customer Step 2: Identify the performance obligations in the contract Step 3: Determine the transaction price Step 4: Allocate the transaction price to the performance obligations in the contract Step 5: Recognize revenue when (or as) the entity satisfies a performance obligation.

10

We generate revenue through the sale of pricing plans for our cloud rendering services. To select the pricing plan that best fits client’s requirements, they are required to contact our team to subscribe and submit their project. This allows us to choose the right pricing plan according to their project and the cloud rendering power needed. When estimating a project, we assess the required number of hours and capacity necessary to fulfill the client's needs. The pricing plans may vary depending on the number of video cards used to produce power (10, 25 and 40 video cards), as well as the time needed for rendering with a minimum option of 5 hours.

Clients can contact us using the information provided in the "Contacts" section on our website (https://global-smart.tech/contacts/). After determining the project scope, the client proceeds with the payment. Upon receipt of payment, we recognize revenue for the portion of the service delivered. For projects spanning multiple billing cycles, we recognize revenue proportionally as the service is rendered. Any undelivered service obligations are reflected as deferred revenue on the balance sheet. This revenue stream will be a key driver of our financial growth and sustainability for the foreseeable future.

During the nine months ended February 28, 2026 and 2025 the Company recorded revenue of $57,826 and $1,200, respectively. Accounts receivable was $0 as of February 28, 2026 and May 31, 2025. Deferred revenue was $6,768 and $4,000, as of February 28, 2026 and May 31, 2025, respectively. 

Fixed Assets

Fixed assets are stated at cost and the Company records depreciation using the straight-line method over the assets estimated useful life. Expenditures for maintenance and repairs are charged to expense as incurred. Additions, major renewals and replacements that increase the property's useful life are capitalized. Property sold or retired, together with the related accumulated depreciation is removed from the appropriate accounts and the resultant gain or loss is included in net income.

Fixed asset amounts are as follows:

		Website Development			Equipment		Total
Estimated Useful Life (Years)		5			5
Total Cost of the Asset	$	7,000	$		363,988	$	370,988
Accumulated Depreciation at February 28, 2026		(4,900)			(232,071)		(236,971)
Net Book Value at February 28, 2026	$	2,100	$		131,917	$	134,017
Depreciation Expense for nine months ended February 28, 2026	$	1,050	$		54,599	$	55,649
Depreciation Expense for nine months ended February 28, 2025	$	1,050	$		54,598	$	55,648
Depreciation Expense for three months ended February 28, 2026	$	350	$		18,200	$	18,550
Depreciation Expense for three months ended February 28, 2025	$	350	$		18,199	$	18,549

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On November 30, 2022 Global-Smart.Tech Inc. entered into an agreement to purchase equipment for $363,988. Part of this equipment was placed in service in August, 2022. Complete installation and switching on of all equipment was on November 11, 2023. Website development costs were $7,000 and the website was placed in service on August 29, 2022.

Impairment of Long-Lived Assets

In accordance with ASC 360-10 the Company periodically reviews the carrying value of its long-lived assets held and used at least annually or when events and circumstances warrant such a review. If significant events or changes in circumstances indicate that the carrying value of an asset or asset group may not be recoverable, the Company performs a test of recoverability by comparing the carrying value of the asset to its undiscounted expected future cash flows. If the carrying values are in excess of undiscounted expected future cash flows, we measure any impairment by comparing the fair value of the asset to its carrying value. If the fair value of an asset is determined to be less than the carrying amount of the asset, impairment in the amount of the difference is recorded. The Company recorded no impairment during the nine months ended February 28, 2026 and 2025.

Cash and Cash Equivalents

The Company considers all highly liquid investments with remaining maturities at the date of purchase of three months or less to be cash equivalents. As of February 28, 2026 and May 31, 2025, the Company had no cash equivalents.

Fair Value of Financial Instruments

ASC 820 "Fair Value Measurements and Disclosures" establishes a three-tier fair value hierarchy, which prioritizes the inputs in measuring fair value. The hierarchy prioritizes the inputs into three levels based on the extent to which inputs used in measuring fair value are observable in the market.

These tiers include:

Level 1: defined as observable inputs such as quoted prices in active markets;

Level 2: defined as inputs other than quoted prices in active markets that are either directly or indirectly observable;

Level 3: defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

The carrying value of the Company's loan from related parties approximates fair value due to its short-term maturity.

Basic and Diluted Loss Per Share

The Company computes earnings (loss) per share in accordance with ASC 260-10-45, Earnings per Share, which requires presentation of both basic and diluted earnings per share on the face of the statement of operations.

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Basic earnings (loss) per share is computed by dividing net earnings (loss) available to common stockholders by the weighted average number of outstanding common shares during the period. Diluted earnings (loss) per share gives effect to all dilutive potential common shares outstanding during the period. Dilutive earnings (loss) per share excludes all potential common shares if their effect is anti- dilutive. As of February 28, 2026 and 2025 the Company had no potential dilutive instruments, therefore basic and diluted earnings (loss) per share are equal.

Income Taxes

The Company accounts for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are determined based on the difference between the financial statement and tax bases of assets and liabilities using the enacted tax rates in effect for the year in which the differences are expected to affect taxable income. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts expected to be realized.

Segment Reporting

The Company operates as a single operating and reportable segment, providing cloud-rendering services. Our Chief Executive Officer is our Chief Operating Decision Maker (“CODM”) who evaluates and makes operating decisions about allocation resources considering our single geographical area and on a consolidated basis. Accordingly, the CODM considers revenue and operating expenses of our single operating segment as reported on the statement of operations and considers our current and total assets as recorded on the balance sheet. There are no additional expense or asset information that are supplemental to those disclosed on these financial statements that are regularly provided to the CODM.

Recent Accounting Pronouncements

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires incremental disclosures about specific expense categories, including but not limited to, purchases of inventory, employee compensation, depreciation, amortization and selling expenses. The amendments are effective for fiscal years beginning after December 15, 2026, and for interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted and the amendments may be applied either prospectively or retrospectively. The Company is currently evaluating this ASU to determine its impact on the Company’s disclosures. The amendments only impact disclosures and are not expected to have an impact on the Company’s financial condition and results of operations.

The Company considers all new pronouncements and management has determined that there have been no other recently adopted or issued accounting standards that had or will have a material impact on its financial statements.

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NOTE 4. Related Party Transaction

On May 30, 2022 the Company entered into a loan agreement with Yehor Rodin, the Company's officer and director, whereby Mr. Rodin agreed to loan up to $100,000 on an unsecured and interest-free basis. On October 7, 2022 the loan agreement was amended to increase the loan amount by $300,000, for a maximum loan amount of $400,000, and to change the maturity date to October 7, 2025. On April 8, 2024 the loan agreement was amended to increase the loan amount by $50,000, for a maximum loan amount of $450,000, and to change the maturity date to April 8, 2027. On September 2, 2024 the loan agreement was amended again to increase the loan amount by $100,000, for a maximum loan amount of $550,000.

As of February 28, 2026 Mr. Rodin was owed $434,425 under the loan agreement. During the nine months ended February 28, 2026 Mr. Rodin advanced $4,310.

NOTE 5. Common Stock

The Company has 75,000,000 common shares authorized with a par value of $0.001 per share.

During the nine months ended February 28, 2026 the Company issued 240,100 common shares for cash of $7,203.

As of February 28, 2026, the Company had 6,134,780 shares issued and outstanding.

NOTE 6. Subsequent Events

In accordance with ASC 855-10, Subsequent Events, the Company reviewed its activities subsequent to February 28, 2026 and through the date these financial statements were available to be issued, and has determined that it does not have any material subsequent events to disclose in these financial statements, other than effective March 31, 2026, Peleriti Leonel Agustin was appointed to serve as a Director of the Company.

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

Business Overview

We are an emerging technology company incorporated under the laws of the state of Wyoming on April 15, 2022. As part of our business evolution, we are focusing on expanding our operations in cloud rendering. Our primary objective is the development of an advanced platform dedicated to 3D interior designers and visualizers. Leveraging the power of GPUs, our platform aims to transform the rendering process, delivering exceptional performance and revolutionizing the industry.

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Plan of Operations

The Company’s business model centers on cloud rendering services. As we continue to expand, the gradual growth of our cloud rendering will provide opportunities to further increase revenue from the sale of rendering capacities.

We generate revenue primarily through the sale of pricing plans for our cloud rendering services, which are provided through our online platform. Clients initiate a project request by contacting our team via the “Contacts” section of our website (https://global-smart.tech/contacts/). Following this initial contact, clients are required to submit a link to their project files stored in a cloud-based storage service. Once the files are received, our specialists conduct a comprehensive evaluation of the project. This includes analyzing the file contents, assessing data volume, scene complexity, and necessary rendering parameters. Based on this assessment, we recommend the most suitable pricing plan that aligns with the project’s technical requirements and the client’s needs. Our pricing plans vary based on the number of video cards (10, 25, or 40 GPUs) allocated to the rendering process, as well as the estimated rendering time, which starts at a minimum of 5 hours. Upon acceptance of the quote, the client proceeds with payment. Following receipt of payment in full, the rendering process commences. The completed project is then delivered to the client via the email address provided in their initial request.

Our primary target customers include 3D interior designers and visualizers in the design industry. We offer a range of flexible and competitive pricing options to attract clients and maximize revenue potential. This revenue stream is a key driver of our financial growth and sustainability in the foreseeable future. 

Marketing 

We are considering choosing online marketing as our key strategy to attract users. We will invest into promotion via different social networks and search engine optimization. The Company also receives ongoing advisory support related to its branding, content development, and overall marketing strategy, including periodic reviews, recommendations, and guidance on market positioning and promotional activities.

Government Regulation

The Company will be required to comply with all regulations, rules, and directives of governmental authorities including the US Securities and Exchange Commission and agencies applicable to our business in any jurisdiction with which we would conduct activities. The Company does not believe that governmental regulations will have a material impact on the way we conduct our business.

As our business expands to include new uses or collection of data that are subject to privacy or security regulations, our compliance requirements and costs will increase, and we may be subject to increased regulatory scrutiny.

Employees

As of February 28, 2026, the Company had one employee, Yehor Rodin, President, CEO, Treasurer, Secretary, Director, and an independent director, Genismarlon Da Silva Nunes, who is not considered an employee. The Company may consider hiring more employees if the need arises.

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Overview

The following discussion of our financial condition and results of operations should be read in conjunction with our audited financial statements as of May 31, 2025.

Results of Operations for the Three Months Ended February 28, 2026 and 2025

Revenue

For the three months ended February 28, 2026 and 2025, we generated total revenue of $14,052 and $1,200, respectively.

The increase in revenue in the current year was due to the general overall growth of the Company.

Operating Expenses

Total operating expenses for three months ended February 28, 2026 were $38,998. The operating expenses included general and administrative expenses $16,848, depreciation expense of $18,550 and professional fees of $3,600.

Total operating expenses for three months ended February 28, 2025 were $22,116. The operating expenses included depreciation expense of $18,549 and professional fees of $3,567.

Total expenses increased by $16,882 due to an increase in general administrative expenses, including search engine optimization (“SEO”) services, website maintenance services, and marketing services.

Net Loss

Net loss for three months ended February 28, 2026 was $24,946.

Net loss for three months ended February 28, 2025 was $20,916.

Results of Operations for the Nine Months Ended February 28, 2026 and 2025

Revenue

For the nine months ended February 28, 2026 and 2025, we generated total revenue of $57,826 and $1,200, respectively.

The increase in revenue in the current year was due to the general overall growth of the Company.

Operating Expenses

Total operating expenses for nine months ended February 28, 2026 were $135,887. The operating expenses included general and administrative expenses $40,408, depreciation expense of $55,649 and professional fees of $39,830.

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Total operating expenses for nine months ended February 28, 2025 were $107,523. The operating expenses included general and administrative expenses $25,612, depreciation expense of $55,648 and professional fees of $26,263.

Total expenses increased by $28,364, driven by an increase in professional fees due to the Company incurring fees for DTC advisory costs and increased IT & software costs for website support and SEO services, offset by decreases from the lack of coding services provided by the CEO in the current period versus the prior period.

Net Loss

Net loss for nine months ended February 28, 2026 was $78,061.

Net loss for three months ended February 28, 2025 was $106,323.

Liquidity and Capital Resources

As of February 28, 2026 our accumulated deficit was $348,666 and we incurred operating losses of $78,061 and used cash in operations of $17,279 during the nine months ended February 28, 2026. These factors raise substantial doubt about our ability to continue as a going concern. In the opinion of our management, additional funding is required to meet our development goals for the next twelve months. While there are currently no guarantees, we expect to be able to generate revenue primarily through the sale of pricing plans for our cloud rendering services.

We will require additional funds to implement our plans. These funds may be raised through equity financing, debt financing, or other sources, which may result in the dilution in the equity ownership of our shares. We will also need more funds if the operations of our cloud rendering platform cost more than we have budgeted and we will rely on related party loans, as needed. Our future depends upon our ability to obtain further financing, the successful operations of business, a successful marketing and promotion program, attraction, and, further in the future, achieving a profitable level of operations.

Operational Cash Flows

We had operating cash outflows of $17,279 for the nine months ended February 28, 2026 and $24,912 for the nine months ended February 28, 2025. The primary allocation of cash has been directed towards general working capital needs, reflecting the ongoing operational requirements of the business.

Investing Cash Flows

Our Company made no investments during the nine months ending ended February 28, 2026 and 2025.

Financing Cash Flows

Net cash provided by financing activities during the nine months ended February 28, 2026 and 2025 was $11,513 and $24,912, respectively. During the nine months ended February 28, 2026, Mr. Rodin advanced $4,310 to pay for Company expenses compared to $26,112 during the nine months ended February 28, 2025. Also during the nine months ended February 28, 2026 and 2025, we received $7,203 and $0 in proceeds from the sale of common stock and made repayments to related parties of $0 and $1,200, respectively.

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Item 3. Quantitative and Qualitative Disclosures About Market Risk

None

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management is responsible for establishing and maintaining a system of disclosure controls and procedures (as defined in Rule 13a-15(e) and 15d-15(e) under the Exchange Act) that is designed to ensure that information required to be disclosed by us in the reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the Commission’s rules and forms.

Disclosure controls and procedures include, without limitation, controls and procedures designed to ensure that information required to be disclosed by an issuer in the reports that it files or submits under the Exchange Act is accumulated and communicated to the issuer’s management, including its principal executive officer or officers and principal financial officer or officers, or persons performing similar functions, as appropriate to allow timely decisions regarding required disclosure.

An evaluation was conducted under the supervision and with the participation of our management of the effectiveness of the design and operation of our disclosure controls and procedures as of February 28, 2026. Based on that evaluation, our management concluded that our disclosure controls and procedures were not effective as of such date to ensure that information required to be disclosed in the reports that we file or submit under the Exchange Act, is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms.

Changes in Internal Control over Financial Reporting

During the three months ended February 28, 2026 there were no changes in our system of internal controls over financial reporting.

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PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

From time to time, we may become involved in various lawsuits and legal proceedings which arise in the ordinary course of business. We are currently not aware of any such legal proceedings or claims that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or operating results.

ITEM 1A. RISK FACTORS

None

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None

ITEM 3. DEFAULTS UPON SENIOR SECURITES

None

ITEM 4. SUBMISSION OF MATTERS TO A VOTE OF SECURITIES HOLDERS

None

ITEM 5. OTHER INFORMATION

None

ITEM 6. EXHIBITS

The following exhibits are included as part of this report by reference:

31.1		Certification of Chief Executive Officer and Chief Financial Officer pursuant to Securities Exchange Act of 1934 Rule 13a-14(a) or 15d-14(a).
32.1		Certifications pursuant to Securities Exchange Act of 1934 Rule 13a-14(b) or 15d-14(b) and 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes- Oxley Act of 2002.

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SIGNATURES 

Pursuant to the requirements of the Securities Act of 1934, as amended, the registrant has duly caused this quarterly report to be signed on its behalf by the undersigned, there unto duly authorized on April 9, 2026.

Global-Smart.Tech Inc.

By: /s/ Yehor Rodin

Yehor Rodin,

President, Secretary,

Treasurer, Director

(Principal Executive, Financial and Accounting Officer)

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FAQ

How did Global-Smart.Tech Inc. (GSMT) perform financially for the nine months ended February 28, 2026?

Global-Smart.Tech Inc. reported revenue of $57,826 and a net loss of $78,061 for the nine months ended February 28, 2026. The business remains unprofitable, with operating cash outflows and a growing accumulated deficit impacting its financial position.

What is the going concern status of Global-Smart.Tech Inc. (GSMT)?

Management states that there is substantial doubt about Global-Smart.Tech Inc.’s ability to continue as a going concern. This is due to its accumulated deficit of $348,666, net loss of $78,061, and operating cash outflow of $17,279 for the nine months ended February 28, 2026.

What are Global-Smart.Tech Inc.’s (GSMT) key balance sheet figures as of February 28, 2026?

As of February 28, 2026, Global-Smart.Tech Inc. reported $167,124 in total assets and $476,743 in total liabilities. Stockholders’ equity was a deficit of $309,619, reflecting cumulative losses and reliance on debt financing, particularly from related parties.

How much cash and debt does Global-Smart.Tech Inc. (GSMT) have?

Global-Smart.Tech Inc. held $7,177 in cash as of February 28, 2026. It also had a related-party loan balance of $434,425, owed to its officer and director under an unsecured, interest-free agreement that has been amended several times to increase the maximum loan amount.

What revenue growth did Global-Smart.Tech Inc. (GSMT) report in its cloud-rendering business?

The company’s cloud-rendering revenue increased to $57,826 for the nine months ended February 28, 2026, compared with $1,200 in the prior-year period. Management attributes this rise to general growth of the company’s operations, though the business is still at an early scale.

How many shares of Global-Smart.Tech Inc. (GSMT) are outstanding?

As of April 8, 2026, Global-Smart.Tech Inc. had 6,134,780 common shares issued and outstanding. During the nine months ended February 28, 2026, the company issued 240,100 shares for cash proceeds of $7,203 to support its operations.