Worldwide NFT Inc., formerly known as Goff Corp., has released its Form 10-Q report for the third quarter of 2023. The company, which transitioned from an exploration stage mining company to a dormant entity in 2013, is now under new management and actively seeking acquisition targets to revitalize its business. The report provides insights into the company's financial performance and operational highlights for the period ending September 30, 2023.
Financial Highlights
- Net Loss: $(84,582), compared to a net loss of $(36,408) for the same period in 2022.
- Net Loss Per Share: $(0.000), unchanged from the previous year.
Business Highlights
- Nature of Operations: Worldwide NFT Inc. was initially focused on gold and silver production but has been dormant since 2013. A new custodian took over in June 2021 to develop a new strategy and identify acquisition targets.
- Corporate Information: Incorporated in Nevada in 2010, the company changed its name to Worldwide NFT Inc. in January 2022. It is currently identifying potential acquisition targets but has not executed any definitive agreements.
- Management Changes: George Sharp was appointed as the custodian and sole member of the board in May 2021, taking over management responsibilities to revive the company.
- Future Outlook: The company aims for long-term growth through a combination with a business rather than focusing on immediate short-term earnings. It is actively seeking potential acquisition targets without restrictions on business type, industry, or geographical location.
- Going Concern: The company has expressed substantial doubt about its ability to continue as a going concern due to its lack of operating history, large accumulated deficit, and the need for a viable business plan.
- Impact of COVID-19: The pandemic has not materially impacted the company due to its lack of operations, but future business development efforts may be affected by economic downturns and government shutdowns related to COVID-19.
- Legal Proceedings: The company is involved in legal proceedings with Warwick Calasse regarding the cancellation of shares issued to him. The case is currently under appeal, with a decision expected by mid-2024.
SEC Filing: