Global Interactive Technologies Reports Revenue Growth and Strategic Restructuring

Global Interactive Technologies, Inc. (GITS) reported its financial results for the six months ending June 30, 2025, revealing a modest revenue of $29, a significant increase from zero revenue in the same period last year. The company attributed this revenue to the relaunch of its FANING platform in April 2025, which began generating income in May. Despite this revenue generation, GITS reported a net loss of $1.24 million, a 23% decrease compared to a net loss of $1.61 million in the prior year, primarily due to cost-cutting measures and the divestiture of underperforming subsidiaries.

The company’s total assets as of June 30, 2025, were approximately $6.31 million, a slight decrease from $6.40 million at the end of 2024. Current assets increased significantly to $25,796 from $2,987, largely due to improved cash reserves, which rose to $10,883 from $2,352. Current liabilities also decreased to $515,682 from $668,339, reflecting a reduction in short-term loans payable and the conversion of debt into equity, which bolstered the company’s capital structure.

Strategically, GITS has undergone significant restructuring, including the acquisition of Faning Korea, LLC, and the divestiture of its subsidiaries, Hanryu Bank, FNS Co., Ltd., and Marine Island Co., Ltd. These changes were aimed at improving financial stability and focusing on the core business of the FANING platform, which connects global fans of Korean culture. The company is also planning to expand its revenue streams by introducing K-Food products and entertainment services in the third quarter of 2025.

Operationally, GITS reported a user base of over 26.6 million registered users on the FANING platform, which is designed to enhance engagement through user-generated content and community interaction. The company is focusing on increasing user engagement and monetization through direct sales, advertising, and user-to-user commissions. The recent updates to the platform are expected to drive user growth and revenue, with management optimistic about the potential for improved financial performance in the upcoming quarters.

Looking ahead, GITS is actively pursuing additional capital through a public offering scheduled for August 2025 to support its operational and growth strategies. However, the company’s financial condition remains precarious, with an accumulated deficit of $39.15 million and ongoing operating losses, raising concerns about its ability to continue as a going concern. Management is closely monitoring liquidity and operational plans to ensure progress toward its strategic objectives.