Greenway Technologies Reports Financial Struggles Despite Increased Cash and Customer Deposits

Greenway Technologies, Inc. (PINK: GWTI) has recently released its quarterly report for the period ending March 31, 2025, reflecting a range of financial activities and operational insights.

Positive Aspects of Income Statement:

• Cash on hand increased significantly to $169,832 from $20,139.
• The company raised $476,000 through stock issued for cash during the quarter.
• Reported customer deposits of $310,000, indicating incoming revenue potential.

Negative Aspects of Income Statement:

• The company incurred a net loss of $683,641, an increase of 91.46% compared to the same period in 2024.
• Operating expenses rose significantly, totaling $532,142, a substantial increase from $202,338 in the previous year.
• Accumulated deficit expanded to $40,056,813, indicating ongoing financial struggles.

Key Financial Statistics:

• Net Loss for Q1 2025: $683,641
• Net Cash Used in Operations: $326,307
• Working Capital Deficit: $13,214,090
• Weighted Average Shares Outstanding: 437,704,501

The company continues to experience significant financial challenges, reflected in its accumulated deficit and ongoing net losses. In response, Greenway Technologies has indicated plans to seek additional capital through debt and equity financing, although the terms and feasibility of such funding remain uncertain.

Management aims to enhance business operations and explore strategic initiatives to improve financial stability. However, the company does face substantial doubt regarding its ability to continue as a going concern, which is underscored by the need for further financing and a pathway to operational profitability.