Greenway Technologies Reports 91.5% Increase in Net Loss for Q1 2025

Greenway Technologies, Inc. reported a net loss of $683,641 for the first quarter of 2025, a significant increase of 91.5% compared to a net loss of $357,071 during the same period in 2024. The company's total operating expenses rose to $532,142, up from $202,338 in the previous year, primarily driven by increased general and administrative costs and the introduction of research and development expenses amounting to $142,793. The company did not generate any revenue during this period, maintaining a consistent trend from the previous year.

The financial position of Greenway Technologies has changed markedly, with total assets increasing to $221,456 as of March 31, 2025, compared to $20,251 at the end of 2024. This increase is largely attributed to a rise in cash reserves, which grew to $169,832 from $20,139. However, the company continues to face a substantial working capital deficit of $13,214,090, reflecting an increase from $12,386,382 at the end of 2024. The stockholders' deficit also widened to $13,214,090, up from $12,386,382, primarily due to the net loss incurred during the quarter.

Strategically, Greenway Technologies has focused on enhancing its research and development capabilities, which is evident from the new expenses incurred in this area. The company is engaged in the commercialization of its proprietary Gas-to-Liquids (GTL) technology, specifically the G-Reformer unit, which is designed to convert natural gas into high-quality liquid fuels. The company aims to position itself as a significant player in the renewable GTL market, particularly within the U.S. The filing indicates that the company is exploring strategic partnerships to bolster its operational capabilities and market presence.

Operationally, Greenway Technologies has reported an increase in customer deposits amounting to $310,000, reflecting a growing interest in its technology. The company’s employee count remains low, with only three employees as of the filing date. The company has indicated that it may seek additional financing through debt or equity offerings to support its operations and growth initiatives. However, the filing raises concerns about the company's ability to continue as a going concern, given its accumulated deficit and reliance on external funding.

Looking ahead, Greenway Technologies is focused on executing its business operations more fully throughout 2025 while seeking to raise capital to support its ongoing activities. The management acknowledges the challenges posed by its current financial situation but remains optimistic about the potential for future revenue generation through its innovative GTL technology. The company’s ability to achieve profitability and secure necessary funding will be critical to its long-term viability.