Registrant is an operating company (10-K excerpt) with minimal reported 2025 revenue ($1,932), significant intangible assets and operating losses, and filings that include Business, Risk Factors, Cybersecurity, Properties, Legal Proceedings and other Part I disclosures.

# Company Name

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- PART I Item 1: Business
- 1A. Risk Factors
- 1B. Cybersecurity
- 1C. Properties
- 2. Legal Proceedings
- 3. Mine Safety Disclosures
- 4. (incomplete)

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- Any disclosed metrics in Item 1 or related sections (customer counts, employee headcount, revenue, operating income, net income)
- Geographic or segment breakdowns, if provided
- Any material disclosures about the business model, competitive landscape, or regulatory environment included in the filing

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Global Interactive Technologies, Inc. operates the FANING platform focused on digital content, social media, community engagement, and e-commerce centered on Korean pop culture (K-Culture).

# Company Overview of Global Interactive Technologies, Inc.

## Business Focus
- **Type of Business:** Technology-driven platform company specializing in digital content, social media, community engagement, and e-commerce related to Korean pop culture (K-Culture, Hallyu).
- **Main Platform:** FANING (formerly Fanatoo), an interactive all-in-one ecosystem designed for fans of Korean entertainment and culture.

## Key Platform Features
- Facilitates **content discovery, monetization, user-generated content, and community engagement**.
- Supports **live chat, multimedia sharing, and virtual community creation** (clubs, forums, open communities).
- Includes **reward points (FANING Points, FP)** system where users earn rewards from activities and advertising revenue sharing.
- Offers **multilingual real-time translation (17 languages)** for global accessibility.
- Provides **commerce services** via the *FANING Shop*, including:
  - Fan merchandise, concert tickets, gifts, digital items (emojis, stickers, AR filters).
  - User-to-user transactions with a **transaction fee ranging between 7% and 15%** depending on the item.
- **Content Types:** User-generated content such as fanart, web novels, webtoons, and fan-created merchandise.
- **Company-created original content:** Web series, shows, live concerts, and exclusive web content.

## Customer Base and Reach
- As of December 31, 2024:
  - **Total Users:** Over 26.6 million registered users worldwide.
  - **Main Age Groups:** 20-29 and 30-39 years old (~80% of users), median age 27.
  - **Regions:** Significant user base in South Korea, U.S., Southeast Asia (e.g., Thailand, Indonesia, Japan, Vietnam, Philippines, Brazil). No operations in China or Hong Kong due to regulatory restrictions.
  - **User Engagement:** Monthly active users (MAUs) peaked around 795,159 in October 2024, with fluctuations throughout the year.

## Employees
- **Number of Employees (as of December 31, 2024):**
  - 5 full-time employees directly employed by Global Interactive Technologies.
  - 7 full-time employees through its subsidiary Faning Korea, LLC.
  - Occasional contract workers.
- **Management Change:** On February 26, 2024, the CEO was terminated for cause; also appointed an interim CEO.

## Revenue and Income
- **2024:** 
  - No revenue from continuing operations; revenue from discontinued operations was approximately **$196**.
  - Loss from operations: **$888,363**.
  - Net loss: **$6,171,969**.
  - Negative net equity (accumulated deficit): approximately **$37.9 million**.
- **2023:**
  - Revenue from discontinued operations was approximately **$827,489**.
  - Loss from operations: **$2,005,925**.
  - Net loss: **$9,407,635**.
  - Negative net equity (accumulated deficit): approximately **$38.9 million**.

## Financial and Operational Status
- As of December 31, 2024:
  - **Current Assets:** $2,987 (primarily cash and receivables, heavily decreased from prior year).
  - **Current Liabilities:** $668,339.
  - The company has a working capital deficit, indicating financial instability.
  - The company is a **development-stage company** with no positive revenue and ongoing operational losses.
  - Management considers its financial condition as raising **substantial doubt** about ongoing viability as a going concern.
  - The company is actively seeking additional capital via equity and debt to fund operations.

## Strategic and Growth Initiatives
- Launched **FANING platform** in May 2021, targeting global K-Pop and Korean culture fans.
- Completed IPO on Nasdaq on July 31, 2023, raising approximately **$8.77 million**.
- Restructured subsidiaries, divested non-core assets, and acquired Faning Korea in December 2024.
- Focused on platform upgrades, content innovation, international expansion (U.S. and U.K.), and community growth.
- No current revenue; future growth tied to user expansion, content monetization, advertising, and e-commerce.

## Summary
- **Main Activities:** Operating an online social community platform centered on Korean pop culture fandom, integrating multimedia content, community building, translation, and e-commerce services.
- **Customer Base:** Over 26.6 million registered worldwide users, primarily young adults heavily engaged in fan communities.
- **Employees:** 12 full-time employees plus contractors.
- **Financials:** No revenue from ongoing operations; large net losses (~$6.2 million in 2024); assets are minimal, liabilities substantial.
- **Current Status:** In early growth and development phase, with significant financial challenges and actively raising capital to sustain future operations.

Hanryu Holdings, Inc. is a Delaware corporation focused on connecting global users through its K-Culture social media platform, FANTOO, while navigating a complex financial landscape.

# Hanryu Holdings, Inc.

## Company structure
Hanryu Holdings, Inc. is a Delaware corporation that operates through its wholly owned subsidiaries:
- Hanryu Bank Co., Ltd. (HBC)
- FNS Co., Ltd. (FNS)
- Marine Island Co., Ltd. (Marine Island)

## Core business — FANTOO
Hanryu Holdings is the creator of FANTOO, a social media platform that connects users worldwide around shared interests, with a focus on K‑Culture (Korean culture). The platform supports interaction, content creation and sharing, commerce, and fandom community building.

### Features of FANTOO
- User engagement: Fans can form Clubs around specific topics, use secure direct messaging, and discuss K‑Pop and contemporary Korean culture.
- FANTOO Clubs: User-created spaces where members share interests, vote on use of pooled resources, and donate FP (Fantoo Points) to a Club Vault for collective purchasing power.
- Global accessibility: Real-time translation supports 17 languages to reduce language barriers.
- Rewards ecosystem: Users earn FP based on activity and revenue generated from advertising, rewarding both content creators and general participants.

## User base and growth
- As of December 31, 2023, FANTOO has attracted over 26.6 million users globally, primarily fans of K‑Culture.
- The primary age groups are 20–29 and 30–39, which together account for over 80% of the user base. The median user age is 27.

## Revenue model
- Revenue sources include platform advertising, content sales, and e‑commerce transactions through the FANTOO Fanshop.
- In July 2023, Hanryu Holdings completed an initial public offering of 877,328 shares at $10.00 per share, raising gross proceeds of approximately $8.77 million.

## Financial position
- Revenue for the years ended December 31, 2023 and 2022 was $(9.4) million and $(6.4) million, reflecting net losses for those periods.
- Accumulated deficit as of December 31, 2023 was approximately $(38.9) million.

## Employment
- The company employs 49 full‑time and 3 part‑time equivalent employees, and uses contractors as needed.

## Compliance and strategy
- The company is subject to applicable regulatory standards and has faced challenges in maintaining compliance with Nasdaq listing requirements.
- Growth strategy emphasizes expanding user engagement, broadening product offerings, and enhancing technological capabilities.

Global Interactive Technologies, Inc.

10-K / May 26, 2026

10-K / April 30, 2025

10-K / July 16, 2024

10-K / May 26, 2026

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