GHST World Inc. Reports Revenue Increase to $50.6M, Continues to Face Net Losses

GHST World Inc. reported its financial results for the six months ending December 31, 2024, revealing a revenue increase to $50.6 million, up from $39.7 million in the same period the previous year. However, the company continued to experience net losses, reporting a loss of $58,431 compared to a significantly higher loss of $436,800 in the prior year. The reduction in losses was attributed to a substantial decrease in operating expenses, which fell to $109,035 from $476,161, primarily due to lower general and administrative costs and the absence of product development expenses that had impacted the previous year.

In terms of operational metrics, GHST World Inc. reported a notable decline in cash reserves, with only $240 available as of December 31, 2024, compared to $18,302 at the end of June 2024. The company’s total current liabilities increased to $375,270 from $330,325, driven largely by advances from related parties, which rose to $356,549. The stockholders' deficit also widened to $366,705 from $308,274, reflecting ongoing financial challenges.

Strategically, GHST World Inc. is pivoting towards clean energy production, specifically through its subsidiary Insside World Inc. The company has entered into agreements to lease land in Italy for solar energy projects, with plans to construct solar plants in collaboration with Green Capital SRL. These agreements are contingent on Green Capital securing the necessary funding, estimated between $7 million and $10 million for the construction of a single solar plant. The company anticipates that if funding is secured, operations could commence within nine to twelve months.

The company’s management has expressed substantial doubt regarding its ability to continue as a going concern without raising additional capital or generating significant revenue. GHST World Inc. has relied heavily on loans from related parties and the issuance of common stock to fund operations. The company plans to continue utilizing authorized but unissued shares to raise capital and convert existing loans into equity, while also managing ongoing expenses related to corporate overhead and patent maintenance.

Looking ahead, GHST World Inc. is focused on executing its new energy business strategy while continuing to explore opportunities for the commercialization of its existing products, including the Smart Shin Guard. The company acknowledges the need for substantial additional financing to support its operations and achieve its strategic objectives, emphasizing the importance of securing funding to facilitate its transition into the clean energy sector.