Global Gas Corporation (Global Gas), a nascent hydrogen and carbon recovery project developer and industrial gas supplier, has not yet generated revenue as of June 30, 2024. The company's financial performance for the current quarter shows a net income of $405,434, primarily due to a change in the fair value of warrant liabilities. General and administrative expenses decreased by $181,215 compared to the same period in the previous year, reflecting lower franchise tax, payroll, and legal fees. The company's liquidity is sustained through cash flows from contributions from a member and a related party, with $338,784 in cash and cash equivalents. However, a working capital deficit of $164,249 and an accumulated deficit of $73,485 raise substantial doubt about the company's ability to continue as...Show More

Global Gas Corporation (Global Gas), a nascent hydrogen and carbon recovery project developer and industrial gas supplier, has not yet generated revenue as of June 30, 2024. The company's financial performance for the current quarter shows a net income of $405,434, primarily due to a change in the fair value of warrant liabilities. General and administrative expenses decreased by $181,215 compared to the same period in the previous year, reflecting lower franchise tax, payroll, and legal fees. The company's liquidity is sustained through cash flows from contributions from a member and a related party, with $338,784 in cash and cash equivalents. However, a working capital deficit of $164,249 and an accumulated deficit of $73,485 raise substantial doubt about the company's ability to continue as a going concern. Global Gas's business development includes plans to offer low-carbon and clean hydrogen, with a focus on serving the hydrogen-as-energy-carrier market. The company's growth strategy involves placing modular generation and recovery solutions close to customers and producing multiple outputs from a single feedstock input. Future plans are contingent on securing contracts with customers and suppliers, with the anticipation of generating revenue from the sale of systems and equipment in 2023 or 2024. The company's securities were delisted from Nasdaq due to non-compliance with listing standards but are now trading on the OTC market.