M&A - GBT Technologies Inc.

Form Type: 10-Q

Filing Date: 2025-05-15

Corporate Action: Merger

Type: Update

Accession Number: 000173112225000738

Filing Summary: GBT Technologies Inc. filed a 10-Q for the quarterly period ended March 31, 2025. The report highlights that the company is in the process of a merger with VisionWave Technologies, Inc. This merger is detailed in a Merger Agreement which includes a series of transactions involving Bannix Acquisition Corp. and VisionWave Holdings. The merger proposed aims to consolidate the entities into a single operating entity, with the steps outlined for the exchange of securities between the companies involved. As of March 31, 2025, the financial statements indicate total assets of $7,290 and total liabilities of $10,293,809, resulting in a stockholders' deficit of $9,209,463. The report discusses significant operating expenses and a net loss for the period. GBT Technologies' strategic direction appears focused on emerging technologies like IoT and AI, as well as commercialization efforts through agreement with Mahaser Ltd. and developments within the GBT Tokenize Corp. We further note the company's ongoing pursuit of cash and stability in the wake of the intended merger and overall financial health.