GHST World Inc., a company specializing in innovative sports technology and consulting services, has released its Form 10-Q report for the third quarter ended September 30, 2023. The report highlights significant financial and operational developments, including a notable increase in revenue and the ongoing development of a new product aimed at enhancing sports performance monitoring.
Financial Highlights
- Revenues: $23,841,000. The company reported revenues for the three months ended September 30, 2023, compared to no revenue in the same period in 2022. This revenue was primarily generated from consulting services through InSSIDe World.
- Net Loss: $(56,095). The net loss for the three months ended September 30, 2023, increased compared to a net loss of $(48,862) in the same period in 2022. The increase in net loss was attributed to higher legal and accounting expenses due to the restatement of the fiscal year 2022 financial statements.
- Net Loss Per Common Share - Basic: $(0.00). The net loss per common share remained unchanged at $(0.00) for both the three months ended September 30, 2023, and 2022.
- Net Loss Per Common Share - Diluted: $(0.00). Similar to the basic net loss per share, the diluted net loss per share also remained at $(0.00) for both periods.
Business Highlights
- Revenue Segments: The company generated $23,841 in revenue during the three months ended September 30, 2023, primarily from consulting services provided through InSSIDe World Inc. This marks a significant change from the same period in 2022, where no revenue was reported.
- New Product Launches: The company is focusing on the development and commercialization of the Smart Shin Guard, a wearable protective device for sports that includes data collection and analysis technology. This product is intended to monitor players' performance metrics in real-time.
- Recent Developments: On September 22, 2023, GHST World Inc. entered into an agreement with cross-ING AG to further develop the Smart Shin Guard, including software for a smartphone application and expanding its use to other sports beyond soccer.
- Future Outlook: The company plans to continue developing its business plan and commercializing its products, particularly the Smart Shin Guard. However, it acknowledges the need for substantial additional financing to achieve these goals.
- Operational Challenges: The company faces potential challenges such as supply chain issues, inflation, and adverse market conditions that could impact its ability to commercialize products and services effectively.
SEC Filing: