Greenway Technologies, Inc. (GWTI) reported a net loss of $826,412 for the three months ended June 30, 2026, compared with $1,206,651 a year earlier. For the six months, net loss was $1,270,544 versus $1,890,292, a reported 32.79% decrease. The company had no revenue in either the three- or six-month periods. Six-month research and development expense was $132,735, compared with $461,293 in 2025; management said cash flow was insufficient to support the same level of research and development as in the prior-year period.
At June 30, 2026, cash was $461, total assets were $3,400 and current liabilities were $15,230,887. The company reported a $15,227,487 working-capital deficit and said recurring losses and insufficient cash flows create substantial doubt about its ability to continue as a going concern during the twelve months after the financial statements are issued. Management said it may seek debt or equity financing, but the terms are uncertain. Greenway also said it does not expect sufficient revenue or positive cash flows from operations to meet its current obligations.
Greenway Technologies, Inc. appointed Doug Cogan as President on June 9, 2026, while he continues to serve as Chief Executive Officer. On June 12, 2026, the company entered into a three-year executive employment agreement with him, with automatic one-year renewals.
The agreement provides an annual base salary of $240,000, potential annual increases of up to 5%, and an initial discretionary bonus target of up to 25% of base salary. Subject to Board approval, Cogan is to receive an award of 2,500,000 shares of restricted common stock and may receive additional performance-based equity awards.
If terminated without Cause or for Good Reason, he is eligible for accrued pay, any unpaid prior-year bonus, a lump-sum severance of 1x base salary plus target bonus (rising to 1.5x around a Change of Control), 12 months of COBRA premium reimbursement, and accelerated vesting of all unvested equity awards, subject to a release of claims.
Greenway Technologies, Inc. announced that Raymond Wright resigned from his roles as Chairman of the Board, Board member, and Interim President effective May 28, 2026. The Board unanimously granted him the honorary, non-voting title of Chairman Emeritus in recognition of his long-standing leadership and foundational contributions.
The company states that Wright’s retirement and resignation did not result from any disagreement over operations, policies, or practices, and his compensation arrangements were unchanged. A press release dated June 3, 2026 highlights his history with Greenway’s gas-to-liquids and gas-to-hydrogen technologies and notes that he will continue to support the company in his new role.
Greenway Technologies, Inc. reported another loss-making quarter and remains in severe financial distress. For the three months ended March 31, 2026, the company generated no revenue and posted a net loss of $444,132, an improvement from a $683,641 loss a year earlier mainly due to lower general and administrative and research and development spending. Cash was only $7,271 with total assets of $51,375, while current liabilities reached $14,520,290, leaving a stockholders’ deficit of $14,468,915 and an accumulated deficit of $41,775,038. Management and the auditors state there is substantial doubt about the company’s ability to continue as a going concern. Most debt, including $647,500 of third-party notes and $2,805,774 of related-party notes, is in default, and a $950,000 legal settlement liability plus a potential $1,250,000 agreed judgment weigh on the balance sheet. Operations are funded primarily through small equity sales, including 6,000,000 new shares issued in the quarter for $60,000, adding to significant dilution risk for existing shareholders.
Greenway Technologies Inc. submitted a Form 12b-25 notification stating it could not timely file its Form 10-Q for the period ended 3-31-2026 under Rule 12b-25. The company attributes the delay to being a very small issuer with a single accountant responsible for preparing the Form 10-Q and requests additional time to complete the filing. The notification is signed by Ransom B. Jones, Chief Financial Officer, dated May 15, 2026.
Greenway Technologies, Inc. reported a change in its independent accounting firm. Assurance Dimensions, LLC, which audited the company’s financial statements for the years ended December 31, 2024 and 2023, resigned as the company’s auditor.
The company states there were no disagreements with Assurance Dimensions, LLC on accounting principles, financial statement disclosure, or audit procedures, and no reportable events as defined in Item 304(a)(1)(v) of Regulation S‑K. Greenway Technologies has selected Stephano Slack, LLC as its new accounting firm and notes it did not previously consult with Stephano Slack, LLC on accounting or auditing matters before this selection.
Greenway Technologies, Inc. files its annual report describing a development-stage gas-to-liquids business built around its proprietary G‑Reformer syngas technology and a portfolio of U.S. patents and licenses from the University of Texas at Arlington.
The company generated no revenue in 2025 and reported a net loss of $1,957,734, bringing its accumulated deficit to $41,330,906. At December 31, 2025, it held $850 in cash against total liabilities of $14,131,536, all current, creating a working capital and stockholders’ deficit of the same amount.
Management discloses substantial doubt about Greenway’s ability to continue as a going concern and plans to seek additional debt or equity financing while pursuing commercialization of small-scale, mobile GTL plants. During 2025 the company recognized $1,700,000 of income from forfeited non‑refundable deposits and a $648,783 gain on a legal settlement, and it issued 25,523,333 shares, including stock for cash and legal-related issuances. As of April 15, 2026, common shares outstanding totaled 462,361,204, with an aggregate market value of non‑affiliate voting stock of $27,761,470 as of June 30, 2025.
Greenway Technologies, Inc. filed a Form 12b-25 notifying the SEC of a late Form 10-K for the period ended 12-31-2025. The company states it is a very small issuer with a single accountant responsible for preparing the report and needs additional time to complete the Form 10-K. The notification is signed by Ransom B. Jones, Chief Financial Officer, dated March 27, 2026.
Greenway Technologies, Inc. reported that director Michael Wykrent resigned from its Board of Directors effective February 23, 2026. The company states his resignation was not due to any disagreement with management, the board, or the company’s operations, policies, or strategic direction.
The board expressed appreciation for Mr. Wykrent’s service, noting his dedication and contributions. The report was executed on behalf of the company by Chief Financial Officer Ransom B. Jones, indicating this is presented as a routine governance change rather than a strategic shift.
Greenway Technologies, Inc. announced significant leadership changes. On November 21, 2025, the board appointed Douglas Cogan, age 59, as Chief Executive Officer, effective immediately. His compensation arrangements have not yet been finalized and will be disclosed in an amendment within four business days after they are determined.
The board also expanded its size from five to seven members and appointed Douglas Cogan and C. Dunham Biles, age 50, as directors, each serving until the next annual shareholder meeting or earlier departure. The company states that neither appointee is involved in any related-party transactions requiring disclosure, and there are no family or special selection arrangements tied to their appointments.