Greenlit Ventures Reports Q3 Net Loss of $9,371, Focuses on Encryption Industry

Greenlit Ventures Inc. reported its financial results for the third quarter and the nine months ended September 30, 2025, revealing a net loss of $9,371 for the quarter, compared to a loss of $7,128 in the same period last year. For the nine-month period, the company recorded a net loss of $38,999, a significant reduction from the $218,892 loss reported for the same timeframe in 2024. The decrease in net loss is attributed primarily to a reduction in professional fees, including the absence of stock-based compensation, which had previously amounted to $175,000 in the prior year.

Total operating expenses for the third quarter increased by 40% to $5,583 from $3,976 in the previous year, while for the nine months, operating expenses decreased dramatically by 86% to $28,451 from $210,069. The reduction in expenses was largely due to the elimination of stock-based compensation and a decrease in audit and transfer agent fees. The company’s interest expense also rose to $10,548 for the nine months ended September 30, 2025, compared to $8,823 in the prior year.

As of September 30, 2025, Greenlit Ventures reported total liabilities of $227,944, up from $188,945 at the end of 2024. This increase was driven by higher accounts payable and accrued liabilities, as well as accrued interest, which rose to $30,381 from $19,832. The company continues to face a working capital deficiency of $36,943, an increase from $25,625 at the end of the previous fiscal year. The company has not generated any cash flow from operating activities during the nine months ended September 30, 2025, maintaining a cash balance of zero.

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. The company has not reported any significant revenue generation from these products as it remains in the development stage. The management has indicated that the continuation of operations is contingent upon securing additional financing and generating sufficient cash flows from operations.

Looking ahead, Greenlit Ventures acknowledges the challenges it faces, including its accumulated deficit of $762,159 and the need for additional funding to support its operations. The management remains optimistic about the potential for future growth through its strategic initiatives in the encryption sector, although it cautions that there are no guarantees regarding the availability of funds or the success of its business model.