Greenlit Ventures Reports 89% Reduction in Net Loss for Q1 2025

Greenlit Ventures Inc. reported a significant reduction in its net loss for the first quarter of 2025, posting a loss of $20,703 compared to a loss of $193,653 in the same period of 2024. This represents a decrease of approximately 89%. The company's operating expenses also saw a substantial decline, falling to $17,436 from $190,790 year-over-year, primarily due to the absence of stock-based compensation expenses, which totaled $175,000 in the previous year. The weighted average number of shares outstanding decreased from 6,731,667 to 4,082,479, contributing to a net loss per share of $0.01 for the current quarter, down from $0.03.

In terms of financial position, Greenlit Ventures reported total liabilities of $209,648 as of March 31, 2025, an increase from $188,945 at the end of 2024. This rise was attributed to higher accounts payable and accrued liabilities, which increased from $5,793 to $13,803, and accrued interest, which rose from $19,832 to $23,099. The company continues to operate with a working capital deficiency of $36,902, up from $25,625 at the end of the previous fiscal year, indicating ongoing financial challenges.

Strategically, Greenlit Ventures has been focusing on its transition into the encryption industry, having launched products such as ForceShield Mail and ForceShield VPN in late 2021. These services aim to address the growing demand for digital privacy solutions. The company has not reported any new client acquisitions or significant operational changes in the latest quarter, and it remains in the development stage of its business model. As of March 31, 2025, Greenlit Ventures had no cash or current assets, which raises concerns about its ability to sustain operations without additional financing.

The company’s management has expressed that its future viability depends on generating sufficient cash flows from operations or securing additional financing. Despite the current financial difficulties, management believes that ongoing efforts to obtain funding and implement strategic plans may provide opportunities for continued operation. However, there are no assurances that such funding will be available when needed or on acceptable terms.

Looking ahead, Greenlit Ventures has indicated that it will continue to focus on its encryption services while monitoring market conditions and operational performance. The company has not disclosed any specific plans for geographic expansion or new product launches in the immediate future, and it remains to be seen how effectively it can navigate its financial challenges while pursuing its strategic objectives.