Global Innovative Platforms Reports No Revenue and Increased Losses in Fiscal Years 2024 and 2025

Global Innovative Platforms Inc. (GIPL), formerly known as Canning Street Corporation, reported no revenue for the fiscal years ending September 30, 2025, and 2024, as the company remains in the research and development phase of its operations. The company incurred a net loss of $718,251 for the year ending September 30, 2025, compared to a loss of $136,197 in the previous year. This significant increase in losses is attributed primarily to heightened research and development expenses, which rose to $382,832 from $23,376, as the company focused on advancing its proprietary breath analysis technology aimed at detecting heartworm in dogs.

In terms of operational developments, Global Innovative Platforms is currently in the algorithm development stage for its Heartworm Breath Test, having begun studies in March 2025. The company has access to 60 dogs for testing, including 23 that are heartworm positive, and aims to finalize the algorithm necessary for the test's efficacy. The company has also engaged in a licensing agreement with Defiant Technologies Inc. for the use of its VOCAM Plus technology, which is critical for the development of its breath analysis devices. The agreement requires an upfront payment of $10,000, with additional quarterly payments totaling $250,000, and a royalty of 3% on net sales of licensed products.

The company has made strides in its research, identifying breath signatures for both early and mature heartworm infections, achieving 100% accuracy in laboratory settings with a limited sample size. However, the company acknowledges that further validation and verification studies are necessary before commercialization, which is projected for 2026. The market for heartworm testing is substantial, with approximately 10 million dogs tested annually in the U.S., and the company believes its non-invasive breath test could significantly improve early detection rates compared to traditional blood tests.

As of September 30, 2025, Global Innovative Platforms had cash and cash equivalents of $17,828 and total liabilities of $11,609, indicating a working capital surplus of $6,219. The company has indicated that it will require additional financing to support its ongoing operations and product development efforts. The management has expressed substantial doubt about the company's ability to continue as a going concern without securing further capital. The company plans to pursue equity and debt financing to meet its operational needs and to potentially merge with another entity to enhance its growth prospects.