Graphene & Solar Technologies Limited filed an amended annual report that mainly adds missing CFO certifications and an executive compensation section, without changing prior financial data. The company generated no revenue for the year ended September 30, 2024 and reported a net loss of $2.64M. Operating expenses more than doubled to $2.56M, driven largely by professional fees.
The balance sheet shows cash of just $1,845, a working capital deficit of $3.01M, total liabilities of $3.14M and a stockholders’ deficit of $2.84M. Auditors and management highlight substantial doubt about its ability to continue as a going concern, given recurring losses, no revenues and dependence on new debt or equity financing to fund its plan to build a solar wafer and cell manufacturing business.
Graphene & Solar Technologies Limited reports full-year 2025 results with no revenues and a net loss of $3,307,205, wider than 2024’s $2,640,737. The company is developing vertically integrated solar-grade silicon wafer capacity in the U.S., Australia and New Zealand but remains pre-revenue.
As of September 30, 2025, cash was $57,365, total liabilities were $4,869,739, and stockholders’ deficit reached $4,556,693. The working capital deficit increased to $4,749,158, and the auditor and management highlight substantial doubt about the company’s ability to continue as a going concern. Operations are being funded through convertible notes, related-party debt, and share issuances, with 726,194,059 common shares outstanding as of February 22, 2026.
Graphene & Solar Technologies Limited filed an amended annual report mainly to add required CEO and CFO certifications, leaving all previously filed financial information unchanged. The company reports no revenue for the year ended September 30, 2024 and a net loss of about $2.64 million, larger than the prior year’s loss.
Total assets were roughly $0.3 million against liabilities of about $3.1 million, resulting in a stockholders’ deficit near $2.8 million. Cash was only $1,845, and management, as well as the auditor, highlight substantial doubt about the company’s ability to continue as a going concern. GSTX is refocusing on U.S. and Australian solar wafer and cell manufacturing, while pausing active work in water harvesting and graphene. As of July 14, 2025, the company had 705,444,059 common shares outstanding.
Graphene & Solar Technologies Limited filed a notification that it will not be able to submit its Annual Report on Form 10-K for the year ended September 30, 2025 by the normal deadline. The company states it needs additional time to complete the presentation of certain information in its financial statements and related notes, and to compile supporting documentation.
The company indicates it expects to file the Form 10-K no later than fifteen calendar days after the prescribed filing date, relying on the grace period allowed under SEC Rule 12b-25.