M&A - Global AI, Inc.

Form Type: 10-K

Filing Date: 2025-06-16

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225015188

Filing Summary: Global AI, Inc., organized in 2009 and formerly known as several names including My Catalogs Online, has shifted its focus toward artificial intelligence solutions, particularly through strategic acquisitions of AI-based technology companies. The company reports significant developments, including the formation of a dedicated R&D and Innovation Lab in late 2024 aimed at developing scalable, privacy-centric AI products. A notable acquisition includes a Share Purchase Agreement with Tectu Biz Ltd. on December 31, 2024, where Global AI agreed to acquire 100% of Tectu's shares for $1 million, as part of its strategy to enhance its AI offerings and operational capabilities. Additionally, the company is under continuous financial pressure, having reported an accumulated deficit of $3,052,489 as of December 31, 2024, raising concerns about its ability to sustain operations and secure future financing. This report underscores the challenges faced by the company in achieving profitability while emphasizing its growth strategy through acquisitions and innovation in AI technology.

Form Type: 8-K

Filing Date: 2025-01-07

Corporate Action: Acquisition

Type: New

Accession Number: 000149315225001227

Filing Summary: On December 31, 2024, Global AI, Inc. entered into a Share Purchase Agreement with Tectu Biz Ltd. and its shareholders to acquire the entire share capital of Tectu Biz Ltd. for a total consideration of $1,000,000, consisting of $490,000 in cash and $510,000 in cash or shares of Global AI, Inc. Each share of the company being acquired is valued at 0.01 New Israel Shekels. Following the transaction, Global AI, Inc. will own 100% of Tectu Biz Ltd. The share purchase is contingent upon the delivery of audited financial statements from a PCAOB qualified auditor. Additionally, Global AI, Inc. plans to enter into employment agreements and option agreements as part of this transaction. A press release announcing the signing of the agreement was issued on January 7, 2025, by Global AI, Inc.