OTC:GWTI
GREENWAY TECHNOLOGIES, INC. & SUBSIDIARIES
A cash-burning tech entity with no reported revenue and negative net income over the last three years.
Key Metrics
Investment Thesis
Bull Case
An investor might consider GWTI as a deep-value turnaround play if the company can pivot its R&D efforts into marketable products that generate the first dollar of revenue. The recent financing activities suggest investors or stakeholders are willing to provide capital, potentially indicating hidden partnerships or pending contracts not yet reflected in earnings.
Bear Case
The stock is an absolute contraindication for value investors due to a negative shareholders' equity of $13M and zero revenue over the last five years. With current liabilities far exceeding total assets and a consistent history of losing money, the company faces imminent delisting or liquidation risks.
About GREENWAY TECHNOLOGIES, INC. & SUBSIDIARIES
Greenway Technologies Inc. (GWTI) is a technology firm specializing in software solutions and digital infrastructure services. The company serves markets focused on system maintenance and technical support, though current financials indicate a lack of traditional product revenue streams. Operations are characterized by high cash burn and significant accumulated losses relative to minimal liquid assets.
Analysis
Management Discussion
Management has successfully secured financing inflows totaling $463k in the latest period to sustain operations despite a severe operating cash outflow of $444k. However, the company's financial health is critically compromised by a negative net income of $1.5M and a working capital deficit where liabilities significantly outweigh assets. The absence of any revenue or gross profit suggests the current strategy relies entirely on external capital injections to fund R&D and administrative costs.
Industry Overview
The technology services industry typically relies on recurring SaaS subscriptions or enterprise contracts to drive predictable revenue growth, which GWTI currently lacks. Most competitors in this space maintain positive gross margins and growing cash reserves, whereas GWTI operates with a negative balance sheet.
Financial Statements
Income Statement
Balance Sheet
Cash Flow
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | $0 | $0 | $0 |
| Cost of Revenue | $0 | $0 | $0 |
| Gross Profit | $0 | $0 | $0 |
| Operating Expenses | $942.9K | $960.7K | $894.3K |
| Operating Income | $-942.9K | $-960.7K | $-894.3K |
| R&D | $54.3K | — | $50.0K |
| G&A | $888.6K | $960.7K | $844.3K |
| Stock-Based Comp | $6.5K | — | — |
| Other OpEx | $0 | $0 | $0 |
| Non-Operating Income | $0 | $0 | $0 |
| Pre-Tax Income | $-942.9K | $-960.7K | $-894.3K |
| Income Tax | $569.8K | $620.0K | $619.3K |
| Continuing Ops | $-1.5M | $-1.6M | $-1.5M |
| Discontinued Ops | $0 | $0 | $0 |
| Net Income | $-1.5M | $-1.6M | $-1.5M |
| Minority Interest | $0 | $0 | $0 |
| Net to Common | $-1.5M | $-1.6M | $-1.5M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Current Assets | $27.5K | $1.1K | $20.3K |
| Cash & Equivalents | $24.6K | $1.1K | — |
| Prepaid Expenses | $2.9K | — | $112 |
| Other Current Assets | $0 | $0 | $20.1K |
| Long-Term Assets | $0 | $0 | $0 |
| Total Assets | $27.5K | $1.1K | $20.3K |
| Current Liabilities | $10.8M | $12.0M | $13.0M |
| Long-Term Liabilities | $0 | $0 | $0 |
| Total Liabilities | $10.8M | $12.0M | $13.0M |
| Shareholders' Equity | $-10.7M | $-12.0M | $-13.0M |
| Retained Earnings | $-36.3M | $-37.9M | $-39.4M |
| Total L&E | $27.5K | $1.1K | $20.3K |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income (CFO) | $-1.5M | $-1.6M | $-1.5M |
| Non-Cash Adjustments | $-21.4K | $5.9K | $-224 |
| Working Capital Changes | $1.0M | $1.3M | $1.1M |
| Cash from Operations | $-496.7K | $-302.7K | $-444.2K |
| Cash from Investing | $0 | $0 | $0 |
| Cash from Financing | $460.7K | $279.2K | $463.2K |
| FX Effect | $0 | $0 | $0 |
| Net Change in Cash | $-36.0K | $-23.5K | $19.0K |
| Beginning Cash | $60.5K | $24.6K | $1.1K |
| Ending Cash | $24.6K | $1.1K | $20.1K |
Frequently Asked Questions
How does GREENWAY TECHNOLOGIES, INC. & SUBSIDIARIES make money?
The company's operations appear limited to general administrative functions and research and development, as evidenced by R&D spend of $50k against zero cost of revenue. There are no identifiable commercial segments generating gross profit, suggesting the business is currently in a pre-revenue or experimental stage.
What are the main risks for GWTI?
1. Extreme liquidity crisis with current liabilities of $13M exceeding total assets of only $20k. 2. Persistent net losses averaging $1.5M annually over the last three years leading to a massive retained earnings deficit. 3. Zero revenue generation and gross profit, indicating a complete lack of commercial viability or product sales.
What is GWTI's competitive advantage?
1. Specialized niche focus on specific technical domains not yet fully articulated in public filings. 2. Minimal overhead structure with zero long-term assets and liabilities indicating a lean operational footprint. 3. Ability to raise capital through financing activities, evidenced by recent $463k cash inflows despite losses.
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Not financial advice. All content is for informational purposes only. Data may contain errors. Consult a qualified financial advisor before making investment decisions.