Worldwide NFT Inc., formerly known as Goff Corp., has released its Form 10-Q report for the quarter ending December 31, 2023. The company, which transitioned from an exploration stage mining company to a dormant entity in 2013, is now under new custodianship and is actively seeking acquisition targets to drive future growth.
Financial Highlights
- Professional Fees: $116,645 for the six months ended December 31, 2023. These costs are primarily associated with filing required Securities and Exchange reports and state regulatory filings.
- Net Loss: $(116,645) for the six months ended December 31, 2023, reflecting ongoing operational expenses without revenue generation.
- Net Loss Per Share: $(0.000), with basic and diluted net loss per share remaining unchanged due to the consistent number of shares outstanding.
- Professional Fees (Three Months Ended): $32,063, primarily related to filing required Securities and Exchange reports and state regulatory filings.
- Net Loss (Three Months Ended): $(32,063), consistent with the company's status as a shell company.
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 on July 12, 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 later became the sole member of the Board and President, Secretary, and Treasurer of the company in May 2021.
- Future Outlook: The company aims to achieve long-term growth through a combination with a business rather than 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 additional working capital.
- Impact of COVID-19: The pandemic has not materially impacted the company due to its lack of operations. However, future business development efforts may be affected by government shutdowns, supply and labor issues, and economic downturns caused by the pandemic.
SEC Filing: