Global Warming Solutions, Inc.

What they do

Global Warming Solutions, Inc. develops and resells climate change mitigation products and provides consulting services. It operates through the website www.gwsogroup.com. The company previously sold CBD products via www.cbd.biz but ceased those operations in May 2021 and transferred the domain to Green Holistic Solutions, Inc.

Revenue drivers

• Climate change retail sales — The company is engaged in retail sales of climate change products and solutions, but reported zero revenue in 2022, 2023, and through Q3 2024.
• Consulting services — Provides consulting services on mitigating global warming risks, but no revenue from this segment has been reported in recent periods.
• CBD sales (discontinued) — Previously generated revenue from hemp-based CBD products, but ceased all CBD operations in May 2021 and shut down the website.

Recent performance

The company reported zero revenue for fiscal years 2022 and 2023, and for each quarter through September 30, 2024. Annual net losses were $1.3 million in 2022 and $516,266 in 2023. As of September 30, 2024, total assets were $53,354, total liabilities were $515,133, and shareholder equity was negative $495,307, with no cash or equivalents on hand.

Strategy

Management plans to seek partnerships with companies and inventors to develop green energy and climate change patents. The company aims to promote itself as an earth steward and attract environmentally conscious consumers. Funding for the business plan over the next twelve months is estimated at $500,000, to be raised through equity or profit-sharing arrangements rather than cash expenditure.

Risks

• Going concern risk — The independent auditor has expressed substantial doubt about the company's ability to continue as a going concern, and management needs additional financing to operate.
• No revenue — The company has generated no revenue since fiscal 2021 and has no current income-producing operations.
• Negative equity — As of September 30, 2024, shareholder equity was negative $495,307, indicating accumulated losses exceed assets.
• Funding dependence — The company relies on capital loans and equity investments to fund operations; without them, it cannot execute its business plan.

Outlook

Management estimates it needs approximately $500,000 to implement the business plan over the next twelve months, which it raised through equity capital in the past. The company continues to face substantial doubt about its ability to continue as a going concern, and any future operations depend on securing additional funding and generating revenue.