GFLT 10-K & 10-Q changes, risk factors and insider trading
GenFlat Holdings, Inc. · OTC · Services-Management Consulting Services · CIK 1796949 · All filings on SEC.gov
At a glance
What changed in the latest 10-K
Risk Factors
New heading “The ongoing conflict in Iran may disrupt the global maritime shipping industry”
New heading “Shares eligible for future sale may adversely affect the market for our securities and our ability to raise additional equity capital.”
New heading “We may experience fluctuations in our tax obligations and effective tax rate, which could materially and adversely affect our results of operations.”
New heading “Rule 144 May Not Be Available To You”
Removed heading “Because our executive officers engage in other business activities, they may not be able or willing to devote a sufficient amount of time to our business operations, causing our business to fail.”
Removed heading “We do not currently have any general liability insurance to protect us in case of customer or other claims.”
Removed heading “Because our Company does not have nomination and corporate governance, audit or compensation committees, you will have to rely on the board of directors to perform these functions.”
Largest changes
“Because our executive officers engage in other business activities, they may not be able or willing to devote a sufficient amount of time to our business operations, causing our business to fail.”see in full comparison
“Because our Company does not have nomination and corporate governance, audit or compensation committees, you will have to rely on the board of directors to perform these functions.”see in full comparison
“We may experience fluctuations in our tax obligations and effective tax rate, which could materially and adversely affect our results of operations.”see in full comparison
“Shares eligible for future sale may adversely affect the market for our securities and our ability to raise additional equity capital.”see in full comparison
“We do not currently have any general liability insurance to protect us in case of customer or other claims.”see in full comparison
“On February 28, 2026, a war began between the U.S., Israel and Iran (the “Iran War”), further increasing the conflicts and tensions in the Middle East, resulting in significant disruptions to key trade routes, especially the Strait of Hormuz, tightened global supply of certain commodities, and increased energy costs. Recent escalations in the Iran War have increased the uncertainty regarding the duration and severity of these disruptions and any further impacts on the global markets. A prolonged war could result in lower demand for our containers due to less maritime traffic in the region. …”see in full comparison
Full comparison: every changed paragraph (29)
GenFlat does not have a history
of profitable operations. As a result, the Company’s registered public accounting firm in their audit report has expressed substantial
doubt about the Company’s ability to continue as a going concern. Continued operations are dependent on the Company’s ability
to generate profitable operations. Furthermore, our Company has incurred an accumulated deficit of $7,818,388$11,093,510 from inception to June
30, 30,
2025 and has not fully implemented its business plan.2026. The financial statements do not include any adjustments that might result from the
uncertainty about the Company’s ability
to continue its business. If we are unable to obtain additional financing from outside sources
and eventually produce sufficient revenue,
we may be forced to sell our assets, or curtail or discontinue our operations.
We may not be able to generate
significant revenue either through customer contracts for our potential products or technologies or through development contracts from
the U.S. government or government subcontractors. We expect to improve and expand production, sales, marketing and administrative systems
and processes. As a result, we will need to generate significant revenue to achieve profitability. We cannot assureprovide youassurance that we
will ever
achieve profitability.
Currently, we have one paying
customer. We have one rental agreement in place with this customer for use of GenFlat containers, and we have generated nominal
revenue to date pursuant to this rental agreement. In addition, we have lease agreements with two customers to provide GenFlat containers
starting during the fourth quarter of 2025. Our business does not presently
generate the cash needed to finance our current and anticipated
operations operations. Based on our current operating plan and budgeted cash requirements,
we believe that we will need to obtain additional future financing after that time to finance our operations until such time that we can
conduct profitable
revenue-generating activities. We intend to obtain financing through an equity offering to meet the capital requirements to manufacture
our current customers’ products; however, there is no assurance that such financing will be available through these plans or other
sources. We also expect that we will need to seek other additional financing in the futurefunding through public or private financings,
including including
equity or debt financings. Poor financial results, unanticipated expenses or unanticipated opportunities could require additional financing
sooner than we expect. We cannot assure you that any amount raised will be sufficient to finance our operations. Other additional
financing may not be available when we need it or may not be available on acceptable terms.
Additional financing may not
be be
available to us, due to, among other things, our Company not having a sufficient credit history, income stream, profit level, asset
base base
eligible to be collateralized, or market for its securities. If we raise additional funds by issuing equity or convertible debt securities,
the percentage ownership of our existing stockholders may be reduced, and these securities may have rights superior to those of our common
stock. If adequate funds are not available to satisfy our near-term and long-term capital requirements, or if planned revenues are not
generated, we
may be required to substantially limit our operations.
Currently,We we have one paying
customer. Wecurrently have one rental
agreement, agreementtwo inequipment placelease agreements, and four trial agreements with thisa customer for usetotal of GenFlatseven containers, and we have generated nominal
revenue to date pursuant to this rental agreement.customers. In addition, we have lease agreements
with two customers to provide GenFlat containers
starting during the fourth quarter of 2025.calendar 2026.
Our business prospects are
difficult difficult
to predict because of our limited operating history, early stage of development, limited financial resources, and unproven business strategy.
Although our
management believes that our current business plan has significant potential, our Company may never attain profitable operations, and
and our management may not succeed in realizing its business objectives. If we are not able to execute our business plan as anticipated, our
our Company may not be able to achieve profitability, and you may lose your entire investment in our securities.
Our GenFlat business has had
limited operations to date. Therefore, we have a limited history upon which to evaluate the merits of investing in our Company. You should
be aware of the difficulties normally encountered by newer businesses and the high rate of failure of such enterprises. The likelihood
of success must be considered consideringconsider the problems, expenses, difficulties, complications and delays encountered in connection with
the operations
that we may undertake. These potential problems include, but are not limited to, unanticipated problems relating
to the ability
to generate enough cash flow to operate our business, and additional costs and expenses that may exceed current estimates.
We expect to
incur significant losses into the foreseeable future. We recognize that if our business is not succeeding, we will not be
able to continue
business operations. There is limited history upon which to base any assumption as to the likelihood that we will
prove successful,
and we may never achieve profitable operations. If we are unsuccessful in addressing these risks, our business
will most likely
fail.
We currently have one rental
agreement andagreement, two equipment lease agreements, and four trial agreements with a total of threeseven customers. While we are in in various stages
of evaluation with potential
additional customers, to succeed, we must attract and retain new customers on a cost-effective basis, many
of whom have not previously
used marine container products like ours. We will rely upon various third-parties, including channel partnerships
with logistics companies,
associations, ports and consultants. In addition, we intend to rely on a variety of other methods to market
our product, including, among
others, identifying prospective clients through the personal and professional relationships of our management
team, attending conferences,
trade shows and other industry events, online advertising and word of mouth. If we are unable to utilize
any of our current or intended
marketing initiatives or the cost of such initiatives were to significantly increase or such initiatives
or our efforts to satisfy our
existing customers are not successful, we may not be able to attract new customers or retain customers on
a cost-effective basis and,
as a result, our revenue and results of operations would be affected adversely.
Our present business and
planned planned
business are speculative and subject to numerous risks and uncertainties. There is no assurance that our Company will
generate significant
revenues or profits. In addition, our business model is unproven and is likely to continue to evolve.
Accordingly, our initialcurrent business
model may not be successful and may need to be changed. Our ability to generate significant
revenues will depend, in large part, on our
ability to successfully market our products to potential users who may not be convinced
of the need for our products and services. We
intend to continue to develop our business model as our Company continues to grow.
All of our GenFlat Containers
are currently manufactured pursuant to our exclusive Teaming Agreement with China International MarineMariner Containers (“CIMC”)
in Dalian, China. In addition, the container manufacturing industry in China is highly concentrated. In the event that it were to become
more difficult or more expensive for us to procure containers in China because of further consolidation among container suppliers, reduced
production by our supplier, increased tariffs imposed by the United States or other governments or for any other reason, we may be unable
to fully pass these increased costs through to our customers in the form of higher lease rates and we may not be able to adequately invest
in and grow our container fleet.
The ongoing conflict in Iran may disrupt the global maritime shipping industry
On February 28, 2026, a war began between the U.S., Israel and Iran (the “Iran War”), further increasing the conflicts and tensions in the Middle East, resulting in significant disruptions to key trade routes, especially the Strait of Hormuz, tightened global supply of certain commodities, and increased energy costs. Recent escalations in the Iran War have increased the uncertainty regarding the duration and severity of these disruptions and any further impacts on the global markets. A prolonged war could result in lower demand for our containers due to less maritime traffic in the region. In response to these risks, we have worked with our manufacturing supplies and delayed certain expenditures related to new container development.
Our Company depends greatly
on our Chief Executive Officer, Drew Hall andHall, our President, Garrett Hall.Hall, our Chief Commercial Officer, Matt Albanese, and our Chief Financial
Officer William Benz. Our success will depend, in part, upon our ability to attract
and retain additional skilled personnel, which will
require substantial additional funds. We cannot assure you that our Company will be
able to find, attract and retain additional qualified
employees, directors, and advisors having the skills necessary to operate, develop
and grow our business. Our inability to hire qualified
personnel, the loss of services of Mr.any Drewof Hallour orkey Mr. Garrett Hall,executives, or the loss
of services of other executive officers, key employees, or
advisors that may be hired in the future, may have a material and adverse effect
on our Company’s business. We currently do not
maintain “key man” insurance policies on the lives of these individuals
or the lives of any of our other officers or employees.
Because our executive officers engage in
other business activities, they may not be able or willing to devote a sufficient amount of time to our business operations, causing our
business to fail.
Our Chief Executive Officer,
Drew Hall, currently devotes approximately 95% of his working time providing management services to our Company. Our other executive officers
expect to devote approximately 40 hours per week providing management services to our Company. Since none of our executive officers are
required to commit their full time to the affairs of the Company, such persons may have conflicts of interest in allocating management
time among their various business activities. It is possible that their demands from their various other business obligations could increase,
with the result that they would no longer be able to devote sufficient time to the management of our business. The loss of any of our
officers or directors could negatively impact our business development.
We do not currently have any general liability
insurance to protect us in case of customer or other claims.
We do not have any general
liability insurance to cover any potential claims to which we are exposed. Any imposition of liability would increase our operating losses
and reduce our net worth and working capital.
Because our Company does not have nomination
and corporate governance, audit or compensation committees, you will have to rely on the board of directors to perform these functions.
Our Company does not have
a nomination and corporate governance, audit or compensation committee and these functions are performed by the board of directors as
a whole, which is currently comprised of one director, our Chief Executive Officer, Drew Hall. Thus, there is a potential conflict in
that the board member who is also part of management participates in discussions concerning management compensation and audit issues that
may affect management decisions. These decisions may not be in your best interests.
RISKS RELATED TO OWNING OUR SECURITIES
There is currently no active
public trading market for our common stock and an active trading market in our common may not develop or, if developed, may not be sustained.
Our common stock is quoted on the OTCOTCQB® MarketsVenture Market (OTCOTCQB) Pink)of the OTCMarkets under the symbol “GFLT.”
To date, however, a minimal public trading
market has developed, so purchasers and/or holders of our securities may have difficulty
selling their shares should they desire to do
so. In the event an active market develops in our securities, it may not be sustained.
As a result, you should purchase shares only
as a long-term investment, and you must be prepared to hold your shares for an indefinite
period.
Shares eligible for future sale may adversely affect the market for our securities and our ability to raise additional equity capital.
A significant number of our total outstanding shares are considered restricted securities. From time to time, certain of the Company’s stockholders may be eligible to sell all or some of their shares of common stock by means of ordinary brokerage transactions in the open market pursuant to Rule 144, promulgated under the Securities Act of 1933, as amended (the “Securities Act”), subject to certain limitations. In general, a non-affiliate stockholder who has satisfied a six-month holding period may, under certain circumstances, sell its shares, without limitation. Any substantial sale of the Company’s common stock pursuant to Rule 144 or pursuant to any resale prospectus may have a material adverse effect on the market price of our common stock, even if our business is doing well. A decline in the market price of our common stock might impede our ability to raise capital through the issuance of additional shares of common stock or other equity securities.
Our directors, executive
officers officers
and affiliates own approximately [26%]23.17% of our outstanding common stock. Accordingly, these stockholders may exert significant
influence influence
over the outcome of corporate actions requiring stockholder approval, including the election of directors, a merger, the consolidation
or sale of all or substantially all of our assets or any other significant corporate transaction. The interests of these stockholders
may not be the same as or may even conflict with our other investors’ interests. For example, these stockholders could delay or
prevent a change in control of us, even if such a change in control would benefit our other stockholders, which could deprive our stockholders
of an opportunity to receive a premium for their common stock as part of a sale of our Company or our assets. The significant concentration
of stock ownership may negatively impact the value of our common stock due to potential investors’ perception that conflicts of
interest may exist or arise.
Our bylaws also provide that, notwithstanding the above, the federal district court for the District of Delaware shall be the sole and exclusive forum for (i) any actions, claims or proceedings brought to enforce a duty or liability created by the Exchange Act or the Securities Act, unless the Corporation consents in writing to the selection of an alternative forum; or (ii) any other claim for which the federal courts have exclusive jurisdiction.
We may experience fluctuations in our tax obligations and effective tax rate, which could materially and adversely affect our results of operations.
We are subject to U.S. federal and state income taxes and taxes in certain other non-U.S. jurisdictions. Tax laws, regulations and administrative practices in various jurisdictions may be subject to significant change, with or without advance notice, due to economic, political and other conditions, and significant judgment is required in evaluating and estimating our provision and accruals for these taxes. There are many transactions that occur during the ordinary course of business for which the ultimate tax determination is uncertain. Our effective tax rates could be affected by numerous factors, such as changes in tax, accounting and other laws, regulations, administrative practices, principles and interpretations, the mix and level of earnings in a given taxing jurisdiction or our ownership or capital structures. For example, the United States government may enact significant changes to the taxation of business entities including, among others, an increase in the corporate income tax rate, an increase in the tax rate applicable to certain income earned overseas and elimination of certain exemptions, and the imposition of minimum taxes or surtaxes on certain types of income. We are currently unable to predict whether such changes will occur and, if so, the ultimate impact on our business. We urge investors to consult with their legal and tax advisers regarding implications of potential changes in U.S. tax laws on an investment in our common stock.
Rule 144 May Not Be Available To You
Although we do not consider our Company to be a shell company or an issuer that has been at any time previously a shell company, our Company may be deemed as such by third parties, including brokerage firms and government agencies, including the U.S. Securities and Exchange Commission (the “SEC”). Rule 144 is not available for the resale of securities initially issued by a shell company or an issuer that has been at any time previously a shell company unless the issuer: (i) has ceased to be a shell company; (ii) is subject to the reporting requirements of section 13 or 15(d) of the Exchange Act; (iii) has filed all reports and other materials required to be filed by section 13 or 15(d) of the Exchange Act, as applicable, during the preceding 12 months (or for such shorter period that the issuer was required to file such reports and materials), other than Form 8-K reports; and (iv) has filed current “Form 10 information” with the SEC reflecting its status as an entity that is no longer a shell company. Thereafter, such securities may be sold subject to the requirements of Rule 144 after one year has elapsed from the date that the issuer filed “Form 10 information” with the SEC. As a result, in the event we are considered to have previously been a shell company and do not meet all of these criteria, Rule 144 will not be available to you.
Management's Discussion & Analysis (MD&A)
Largest changes
“During the year ended June 30, 2024, the Company entered into three promissory note agreements with the Company’s CEO, Drew Hall, for a total principal of $205,000. The Company will pay 2.5% per annum, until the total principal is paid in full. The note has no maturity date and no default interest rate. During the years ended June 30, 2025 and June 30, 2024, the Company repaid $105,000 and $100,000, respectively. The promissory notes and accrued interest were fully paid off as of June 30, 2025.”see in full comparison
“On September 24, 2025, the Board appointed William R. Benz, age 74, as Chief Financial Officer of the Company, effective upon completion of the Public Offering. In connection with his appointment, the Company and Mr. Benz entered into an employment agreement, which was amended on December 30, 2025, effective upon completion of the Public Offering, which provided that Mr. …”see in full comparison
“On September 24, 2025, the Company entered into a written employment agreement with Mr. Garrett Hall as its President, which was amended on December 30, 2025. The employee agreement provided that Mr. Hall’s base salary was $150,000 per year and effective January 1, 2025, Mr. Hall’s employment agreement was modified to provide for an annual salary of $175,000 per year. Upon completion of the Company’s public offering that closed on February 4, 2026, Mr. …”see in full comparison
“On September 24, 2025, the Board appointed Matthew J. Albanese, age 73, as Chief Commercial Officer of the Company, effective upon completion of the Public Offering. In connection with his appointment, the Company and Mr. Albanese entered into an employment agreement, which was amended on December 30, 2025, effective upon completion of the Public Offering, which provided that Mr. …”see in full comparison
“On September 24, 2025, the Company entered into a written employment agreement with Mr. Drew Hall as Chief Executive Officer. The employee agreement provided that Mr. Hall’s base salary was $180,000 per year. Upon completion of the Company’s public offering of securities that closed on February 4, 2026 (the “Public Offering”), Mr. …”see in full comparison
Impairment loss wassee in full comparison$1,130,000$501,118 for the year ended June 30,2025,2026, as compared to$0$1,130,000 for2024,2025,anaincreasedecrease of$1,130,000.$628,882. The impairment loss for theyearyears ended June 30, 2026 and 2025 primarily related to$1,130,000impairment ofimpairmenttheexpenseCompany’sof40rentalfootinventory.and 20 foot containers as we focus on our new high cube design.
Full comparison: every changed paragraph (27)
We are an early-stage company
that developed a more sustainable collapsible marine container (the “GenFlat Container”), that can be collapsed when
emptied and stacked in bundles of four collapsed containers that take the same space as aone standardconventional high cube marine container. When
GenFlat Containers
are stacked 4-to-1, they can save up to 75% on: 1) freight costs, terminal handling fees, transloading fees, and other
fees; 2) carbon
emitted by ocean vessels, trucks, and trains by reducing the number of trips necessary; and 3) space required at ports,
container yards,
and distribution centers. We operate as a container sales and leasing company and supply GenFlat’s patented marine
container primarily
to shipping line customers under a variety of short and long-term lease structures.
We commenced commercial operations
in May 2024. Presently,We ourcurrently commercial operations consist ofhave one rental agreement andagreement, two equipment lease agreements, and four trial agreements to provide GenFlat
Containers towith a total of threeseven customers, including one agreement entered into in August 2025 and one agreement entered into in Septembercustomers.
2025. The lease agreements demonstrate commercial acceptance of our GenFlat Container. Our Company is also in various stages of evaluation with
with potential customers to lease GenFlat Containers, including shipping lines, retailers, logistics companies, and the United States
military.
For the years ended June 30,
2025,2026, and 2024, respectively,2025, we generated revenue from our operations of $7,894$6,120 and $5,234,$7,894, and our net losses from operations were $4,709,006$3,313,115 and
and $1,232,730,$4,709,006, respectively.
Revenue was $7,894$6,120 for the
year ended June 30, 2025,2026, as compared to $5,234$7,894 for 2024,2025, ana increasedecrease of $2,660,$1,774. whichT decrease in revenue in 2026 was the result of the Company’s
first short term contract
for the leasing of GenFlat Containers.Containers in 2025 which ended during 2026.
Cost of goods sold was $177,279$76,820
for the year ended June 30, 2025,2026, as compared to $168,540$177,279 for 2024,2025, ana increasedecrease of $8,739.$100,459. The cost of goods sold for the year ended
June June
30, 20252026 primarily related to $124,920$60,825 of depreciation expense of rental inventory, and $52,359$15,995 transportation expenses of the Company’s
collapsible marine container. The cost of goods sold for the year ended June 30, 20242025 primarily related to $79,500$124,920 of depreciation expense
of rental
inventory inventory, and $89,040$52,359 transportation expenses of the Company’s collapsible marine container.
Research and development expenses
were $103,322$11,016 for the year ended June 30, 2025,2026, as compared to $0$103,322 for 2024,2025, ana increasedecrease of $103,322,$92,306, which was the result of increasedcompletion
of the Company’s redesign work leading to decreased engineering, consulting and research and development activity of the Company’s
collapsible marine container.container
General and administrative
expenses for the year ended June 30, 2025,2026, were $3,306,299,$2,730,281, compared to $1,069,424$3,306,299 for 2024,2025, ana increasedecrease of $2,236,875,$576,018. whichThe decrease was
primarily primarily
related to an increasedecrease in stock-based compensation expense of $2,365,648$1,409,109 associated with new advisor agreements,agreements issued in the prior
year, partially offset by an increase of approximately
$46,000 $286,000 in payroll costs, partiallyan offset by a declineincrease of $67,000approximately $217,000 in professional feeslegal and $229,000professional
fees related to the offering, and an increase of in advertising$53,000 in accounting costs.
Impairment loss was $1,130,000$501,118
for the year ended June 30, 2025,2026, as compared to $0$1,130,000 for 2024,2025, ana increasedecrease of $1,130,000.$628,882. The impairment loss for the yearyears ended
June 30,
2026 and 2025 primarily related to $1,130,000impairment of impairmentthe expenseCompany’s of40 rentalfoot inventory.and 20 foot containers as we focus on our new high
cube design.
Net cash used in operating
activities activities
for the year ended June 30, 2025,2026, was $1,177,670$3,955,430 versus net cash used in operating activities of $2,438,593$1,177,670 for the year ended
June 30,
2024, a2025, decreasean increase of $1,260,923.$2,777,760. The decreaseincrease in net cash used in operating activities was primarily due to limitedincreased spending
on the Company’s
inventory compared to the prior year.
Net cash provided by financing activities during the year ended June 30, 2026 was $6,369,316, an increase of $5,180,787 from cash provided by financing activities in 2025 of $1,188,529. Proceeds from the sale of common stock were $6,426,690, an increase of $5,324,426 from proceeds from the sale of common stock in 2025 of $1,120,264. Proceeds from notes payable from related parties were $448,000 and proceeds from related party advances were $54,000 during the year ended June 30, 2026, and the Company repaid related party notes payable, related party loans, and advances of $448,000, $57,974, and $54,000, respectively during the same year. Net cash provided by financing activities during the year ended June 30, 2025 was $1,188,529. Proceeds from notes payable were $199,996 and proceeds from related party notes were $94,750 during the year ended June 30, 2025, and the Company repaid related party notes payable and advances of $199,750 and $8,731, respectively during the same year.
Net cash provided by financing
activities during the year ended June 30, 2025 was $1,188,529, a decrease of $1,010,279 from cash provided by financing activities in
2024 of $2,198,808. Proceeds from notes payable were $199,996 and proceeds from related party notes were $94,750 during the year ended
June 30, 2025, and the Company repaid related party notes payable and advances of $199,750 and $8,731, respectively during the same year.
During the year ended June 30, 2024 the Company received related party loan proceeds of $205,000, repaid $100,000 to related parties,
$67,026 on other notes payable, and $128,466 on a line of credit. Proceeds from sale of common stock were $1,102,264 and $2,289,300 in
2025 and 2024, respectively, a decrease of $1,187,036.
As of June 30, 2025,2026, we had
cash of $49,830,$2,463,716, and working capital deficit of $123,645.$3,079,254. We believe that our existing cash will not be sufficient to fund our present operations
operations during the next 12 months and beyond. The Company’s audited annual consolidated financial statements have been prepared
in accordance
with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able
to meet its obligations
and continue its operations for its next fiscal year. Realization values may be substantially different from carrying
values as shown
and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of
of assets and liabilities should the Company be unable to continue as a going concern. At June 30, 20252026 the Company had not yet achieved
consistent profitable operations and expects to incur further losses in the development of its business, all of which raise substantial
doubt about the Company’s ability to continue as a going concern. The Company’s ability to continue as a going concern is
dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and
repay its liabilities arising from normal business operations when they come due. Management has initiated a formal sales and marketing
plan including direct email campaigns, industry events, and business to business digital advertising to generate sales. The Company also
intends to raise funds through ana future equity offering
or offerings to meet the capital requirements to manufacture its products. However, there is no
assurance of additional funding being
available through these plans or other sources.
During the year ended June 30, 2026, the Company sold a total of 2,377,000 shares of common stock in exchange for net cash proceeds of $6,426,690. During the year ended June 30, 2026, the Company issued 43,667 shares sold for $262,000 during the year June 30, 2025 and was recorded as subscription payable on the consolidated balance sheet as of June 30, 2025. The Company also issued 16,666 shares for settlement of liabilities during of $102,496 the year ended June 30, 2026. During the year ended June 30, 2026, the Company cancelled 10,000 shares of common stock that were issued in 2021 related to a prior merger agreement.
During the year ended June
30, 2024, prior to closing of the Share Exchange, GenFlat sold a total of 564,628 shares of its common stock in exchange for
net cash proceeds of $2,289,300. Of these shares, 33,333 were issued after June 30, 2024.
On MarchJune 26,13, 2021,2025, the
Company Company
entered into a promissory note agreement with a third party for a total principal of $125,000.$100,000. The Company willpaid pay 2.5%8.0% per annum, compounded
annually until the
total principal iswas paid in full. The note hasmatured noon maturityJanuary date2, 2026 and had no default interest rate. As of June 30, 20252026 and June
June 30, 2024,2025, the balance owed on the note was $57,974$100,000. Accrued interest on the note was $8,373 and $50,500,$373 as of June 30, 2026 and
June 30, 2025 respectively. This note was repaid in full in August 2026.
During the year ended June
30, 2024, the Company entered into three promissory note agreements with the Company’s CEO, Drew Hall, for a total principal of
$205,000. The Company will pay 2.5% per annum, until the total principal is paid in full. The note has no maturity date and no default
interest rate. During the years ended June 30, 2025 and June 30, 2024, the Company repaid $105,000 and $100,000, respectively. The promissory
notes and accrued interest were fully paid off as of June 30, 2025.
During the year ended June
30, 2025, the Company received additional proceeds of $44,750 in aggregate from Mr. Hall and repaid a total of $44,750 on the
promissory note agreements. As of June 30, 2025, the balance owed on the note was $0. Accrued interest on the notes was $0 and $260 as
of June 30, 2025 and June 30, 2024, respectively. The promissory notes and accrued interest were fully paid off as of June 30, 2025.
The exercise price of the options will be the
fair market value of a share of common stock on the date of grant.
The Company maintains an operating lease for its office space with the Company’s CEO, Drew Hall. On January 3, 2025, the Company extended the operating lease for its office space to expire on January 1, 2027, and agreed to pay $1,320 on a monthly basis. On January 30, 2026, the Company extended the lease to expire on January 31, 2028.
On September 24, 2025, the Company entered into a written employment agreement with Mr. Drew Hall as Chief Executive Officer. The employee agreement provided that Mr. Hall’s base salary was $180,000 per year. Upon completion of the Company’s public offering of securities that closed on February 4, 2026 (the “Public Offering”), Mr. Hall’s base salary increased to $275,000 per year and he became eligible for an annual cash bonus of up to $137,500 based on the achievement of certain Company’s objectives, as set forth in his employee agreement and at the discretion of the Compensation Committee of the Board of Directors, in addition to any other equity and bonus compensation to be determined by the Compensation Committee of the Board of Directors from time to time at its sole discretion. Mr. Hall is entitled to participate in and receive benefits from all of the Company’s employee benefit plans that are now, or in the future, may be maintained by the Company for its employees, including, without limitation, the Company’s health insurance plan. In the event that Mr. Hall leaves the Company’s employment for Good Reason (as defined in his employment agreement) or if the Company terminates his employment without Cause (as defined in his employment agreement), Mr. Hall will be entitled to receive a severance payment equal to twelve (12) months of his base compensation as provided for in his employment agreement. Mr. Hall also serves as a member of the Company’s Board of Directors (the “Board” or “Board of Directors”) with no additional compensation.
On September 24, 2025, the Company entered into a written employment agreement with Mr. Garrett Hall as its President, which was amended on December 30, 2025. The employee agreement provided that Mr. Hall’s base salary was $150,000 per year and effective January 1, 2025, Mr. Hall’s employment agreement was modified to provide for an annual salary of $175,000 per year. Upon completion of the Company’s public offering that closed on February 4, 2026, Mr. Hall’s base salary increased to $275,000 per year and he became eligible for an annual cash bonus of up to $137,500 based on the achievement of certain Company’s objectives, as set forth in his employee agreement and at the discretion of the Compensation Committee of the Board of Directors, in addition to any other equity and bonus compensation to be determined by the Compensation Committee of the Board of Directors from time to time at its sole discretion. Mr. Hall will also receive a 3% commission on revenue received by the Company for sales/lease transactions entered into and closed with certain entities as set forth in his employee agreement. Upon completion of the Public Offering, Mr. Hall was granted an equity award in the form of 330,000 restricted stock units that will vest on February 28, 2026. Mr. Hall is entitled to participate in and receive benefits from all of the Company’s employee benefit plans that are now, or in the future may be maintained by the Company for its employees, including, without limitation, the Company’s health insurance plan. In the event that Mr. Hall leaves the Company’s employment for Good Reason (as defined in his employment agreement) or if the Company terminates his employment without Cause (as defined in his employment agreement), Mr. Hall will be entitled to receive a severance payment equal to six (6) months of his base compensation as provided for in his employment agreement. On May 12, 2026, the Company and Mr. Hall entered into a written agreement whereby the Company and Mr. Hall mutually rescinded, revoked, annulled, voided and cancelled the restricted stock unit award effective February 4, 2026. On July 20, 2026, Mr. Hall was granted an equity award in the form of 330,000 restricted stock units that vest on July 20, 2026.
On September 24, 2025, the Board appointed Matthew J. Albanese, age 73, as Chief Commercial Officer of the Company, effective upon completion of the Public Offering. In connection with his appointment, the Company and Mr. Albanese entered into an employment agreement, which was amended on December 30, 2025, effective upon completion of the Public Offering, which provided that Mr. Albanese’s base salary will be $275,000 per year and he will be eligible for an annual cash bonus of up to $137,500 based on the achievement of certain Company’s objectives, as set forth in his employee agreement and at the discretion of the Compensation Committee of the Board of Directors, in addition to any other equity and bonus compensation to be determined by the Compensation Committee of the Board of Directors from time to time at its sole discretion. Mr. Albanese will also receive a 3% commission on revenue received by the Company for sales/lease transactions entered into and closed with certain entities as set forth in his employee agreement. Mr. Albanese was granted a sign-on equity award in the form of 330,000 restricted stock units that will vest on February 28, 2026. Mr. Albanese is entitled to participate in and receive benefits from all of the Company’s employee benefit plans that are now, or in the future may be maintained by the Company for its employees, including, without limitation, the Company’s health insurance plan. In the event that Mr. Albanese leaves the Company’s employment for Good Reason (as defined in his employment agreement) or if the Company terminates his employment without Cause (as defined in his employment agreement), Mr. Albanese will be entitled to receive a severance payment equal to six (6) months of his base compensation as provided for in his employment agreement. On May 12, 2026, the Company and Mr. Albanese entered into a written agreement whereby the Company and Mr. Albanese mutually rescinded, revoked, annulled, voided and cancelled the restricted stock unit award effective February 4, 2026. On July 20, 2026, Mr. Albanese was granted an equity award in the form of 330,000 restricted stock units that vest on July 20, 2026.
On September 24, 2025, the Board appointed William R. Benz, age 74, as Chief Financial Officer of the Company, effective upon completion of the Public Offering. In connection with his appointment, the Company and Mr. Benz entered into an employment agreement, which was amended on December 30, 2025, effective upon completion of the Public Offering, which provided that Mr. Benz’s base salary will be $175,000 per year and he will be eligible for an annual cash bonus of up to $87,500 based on the achievement of certain Company’s objectives, as set forth in his employee agreement and at the discretion of the Compensation Committee of the Board of Directors, in addition to any other equity and bonus compensation to be determined by the Compensation Committee of the Board of Directors from time to time at its sole discretion. Mr. Benz was granted a sign-on equity award in the form of 100,000 stock options that will vest as follows: 50,000 options vest on the option grant date, with the remaining options vesting annually in 25,000 increments on each anniversary of the option grant date. Mr. Benz is entitled to participate in and receive benefits from all of the Company’s employee benefit plans that are now, or in the future may be maintained by the Company for its employees, including, without limitation, the Company’s health insurance plan. In the event that Mr. Benz leaves the Company’s employment for Good Reason (as defined in his employment agreement) or if the Company terminates his employment without Cause (as defined in his employment agreement), Mr. Benz will be entitled to receive a severance payment equal to six (6) months of his base compensation as provided for in his employment agreement. Mr. Benz received an increase in his base salary to $275,000 on August 1, 2026. On May 12, 2026, the Company and Mr. Benz entered into a written agreement whereby the Company and Mr. Benz mutually rescinded, revoked, annulled, voided and cancelled the option award effective February 4, 2026. On July 20, 2026, Mr. Benz was granted an equity award in the form of 100,000 stock options that vest as follows: 50,000 options vest on the option grant date, with the remaining options vesting annually in 25,000 increments on each anniversary of the option grant date. The exercise price of the options is $1.39 per share.
Rental inventory consists
of collapsible marine shipping containers. Rental inventory is stated at cost, with an estimated useful life of 10 years. Generally, when
rental equipment is acquired, the Company estimates the period that it will hold the asset, primarily based on historical measures of
the amount of rental activity (e.g. equipment usage) and the targeted age of equipment at the time of disposal. The Company also estimates
the residual value of the applicable rental equipment at the expected time of disposal. The residual value for rental equipment is affected
by factors which include equipment age and amount of usage. Depreciation is recorded over the estimated holding period. Depreciation rates
are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect
on residual values at the time of disposal and the estimated holding periods. Market conditions for used equipment sales can also be affected
by external factors such as the economy, natural disasters, fuel prices, supply of similar used equipment, the market price for similar
new equipment and incentives offered by manufacturers of new equipment. These key factors are considered when estimating future residual
values and assessing depreciation rates. As a result of this ongoing assessment, the Company makes periodic adjustments to depreciation
rates of rental equipment in response to changed market conditions. We had an inventory impairment loss of $1,130,000$501,118 and $0$1,130,000 at
June 30,
2025, 2026, and 2024,2025, respectively, related to a decline in the expected net realizable value of the 40 foot40-foot containers.
Accounts receivable is carried
at their estimated collectible amounts. Accounts receivable is periodically evaluated for collectability based on past credit history
with customers and their current financial condition. We had an allowance of $13,127 at June 30, 2025,2026, and 20242025 and recognized credit
losses of $6,120 and $13,127 during the year ended June 30, 2026 and 2025.
In November 2024, the FASB issued ASU 2024-03, Disaggregation of Income Statement Expenses (DISE), requiring additional disclosure of the nature of expenses included in the income statement. The new standard requires disclosures about specific types of expenses included in the expense captions presented on the face of the income statement as well as disclosures about selling expenses. The amendments in this update are effective for annual periods beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of our pending adoption of this standard on our consolidated financial statements.
In December 2023, the FASB Issued ASU No. 2023-09 enhances transparency in income tax reporting. It requires companies to provide more detailed, disaggregated information regarding their effective tax rate reconciliations and income taxes paid, helping investors evaluate tax risks and cash flow forecasts. The Company adopted ASC 2023-09 during the year ended June 30, 2026 prospectively.
What changed in the latest 10-Q
Risk Factors
We could not find a separate Risk Factors item in the latest 10-Q. Some companies leave it out of quarterly reports; see the annual 10-K risk factors and the original filing. Open the filing on SEC.gov.
Management's Discussion & Analysis (MD&A)
Largest changes
For thesee in full comparisonSixNine Months endedDecemberMarch 31,2025,2026, compared to theSixNine Months endedDecemberMarch 31,20242025
“On February 2, 2026, we entered into an underwriting agreement (the “Underwriting Agreement”) with Craig-Hallum Capital Group LLC, in its capacity as underwriter (the “Underwriter”), relating to the Company’s public offering (the “Offering”) of shares of common stock, par value $0.001 per share (the “Common Stock”) pursuant to the Company’s registration statement on Form S-1 (File No. 333-291718) (the “Registration Statement”), under the Securities Act of 1933, as amended (the “Securities Act”). …”see in full comparison
Net cash provided by financing activities during thesee in full comparisonsixnine months endedDecemberMarch 31,20252026 was$432,100,$6,393,816,aandecreaseincrease of$526,429$5,305,287 from cash provided by financing activities in20242025 of$958,529.$1,088,529. Net cash provided consisted of proceeds from notes payable were $0, net advances from related party were $4,000, proceedsproceedsfrom exercise of common stock options were $600,andproceeds from related party noteswereof $448,000, and repayments on related notes of $427,500 during thesixnine months endedDecember 31, 2025. During the six months ended DecemberMarch 31,2025,2026.theThe Companyissuedreceived16,667netshares pursuant to the conversionproceeds of$99,996approximatelyin$6,427,000notesafter deductingpayableunderwriting discounts and$4,311 of accrued interest.commissions.
see in full comparisonInThe Offering closed on February 4, 2026, and the Companyalso raised gross proceeds of approximately $6,461,000 after deducting underwriting discounts and commissions through the sale ofsold 2,333,333 shares ofcommonCommon Stock to the underwriters for total gross proceeds of approximately $7,000,000.stockAfter deducting the underwriting commissions, discounts, and offering expenses, the Company received net proceeds of approximately $6,427,000. The Company intends to raise additional funds pursuant to another equity offering to meet the capital requirements tomanufacturermanufacture its products. However, there is no assurance of additional funding being available throughthethesesaleplansof additional equityor other sources.
“The Company has also agreed to issue the Underwriter a warrant to purchase 116,666 shares of the Company’s common stock at an exercise price of $3.45, which is 115% of the initial public offering price. The Underwriter’s warrant may be exercised in whole or in part, commencing on a date which is six months from February 4, 2026, until February 4, 2031 (the “Representative Warrant”).”see in full comparison
General and administrative expenses for the three months endedsee in full comparisonDecemberMarch 31,2025,2026, were$402,950,$837,760, compared to$739,674$459,362 for2024,2025,aandecreaseincrease of$336,724,$378,398, which was primarilyprimarilyrelated to increased professional costs related toapublicdecreasecompanyinoperationsstock-basedandcompensationtheexpensePublicof $284,125 associated with advisor agreements executedOffering during the three months endedDecemberMarch 31,2024.2026.
Full comparison: every changed paragraph (27)
For the three months ended
DecemberMarch 31, 2025,2026, and 2024,2025, we generated no revenue from our operations, and our net losses from operations were $424,796$881,698 and $844,391,$560,037,
respectively. For the sixnine months ended DecemberMarch 31, 2025,2026, and 2024,2025, we generated revenue from our operations of $6,120 and $7,894, and our
our net losses from operations were $925,210$1,806,908 and $2,611,438,$3,171,475, respectively.
For the Three Months ended DecemberMarch 31, 2025,2026,
compared to the Three Months ended DecemberMarch 31, 20242025
The following discussion compares
operating data for the three months ended DecemberMarch 31, 2025,2026, to the data for the three months ended DecemberMarch 31, 20242025:
Revenue was $0 for the three
months ended DecemberMarch 31, 20252026, and 2024.2025.
Cost of goods sold was $21,846$32,922
for the three months ended DecemberMarch 31, 2025,2026, as compared to $52,717$60,111 for 2024,2025, a decrease of $30,871.$27,189. The cost of goods sold for the three
months ended DecemberMarch 31, 20252026 primarily related to $21,846$20,275 of depreciation expense of rental inventory. The cost of goods sold for the three
three months ended DecemberMarch 31, 20242025 related to $45,692 of depreciation expense of rental inventory and $7,025 transportation expenses
of the Company’s
collapsible marine container.
Research and development expenses
were $0$11,016 for the three months ended DecemberMarch 31, 2025,2026, as compared to $52,000$40,564 for 2024,2025, a decrease of $52,000,$29,548, which was the result of
decreased engineering, consulting and research and development activity of the Company’s collapsible marine containers.
General and administrative
expenses for the three months ended DecemberMarch 31, 2025,2026, were $402,950,$837,760, compared to $739,674$459,362 for 2024,2025, aan decreaseincrease of $336,724,$378,398, which was primarily
primarilyrelated to increased professional costs related to apublic decreasecompany inoperations stock-basedand compensationthe expensePublic of $284,125 associated with advisor agreements executedOffering during the
three months ended December March
31, 2024.2026.
For the SixNine Months ended DecemberMarch 31,
2025, 2026, compared
to the SixNine Months ended DecemberMarch 31, 20242025
The following discussion compares
operating data for the sixnine months ended DecemberMarch 31, 2025,2026, to the data for the sixnine months ended DecemberMarch 31, 20242025:
Revenue was $6,120 for the
sixnine months ended DecemberMarch 31, 2025,2026, as compared to $7,894 for 2024,2025, a decrease of $1,774.
Cost of goods sold was $42,916$75,838
for the sixnine months ended DecemberMarch 31, 2025,2026, as compared to $105,911$166,022 for 2024,2025, a decrease of $62,995.$90,184. The cost of goods sold for the sixnine
months ended DecemberMarch 31, 20252026 primarily related to $40,550$60,825 of depreciation expense of rental inventory, and $2,365$15,013 transportation expenses
of the Company’s collapsible marine container. The cost of goods sold for the sixnine months ended DecemberMarch 31, 20242025 related to $85,442$131,134
of depreciation expense of rental inventory and $20,469$34,888 transportation expenses of the Company’s collapsible marine container.
Research and development expenses
were $0$11,016 for the sixnine months ended DecemberMarch 31, 2025,2026, as compared to $88,000$128,564 for 2024,2025, a decrease of $88,000,$117,548, which was the result
of decreased
engineering, consulting and research and development activity of the Company’s collapsible marine containers.
General and administrative
expenses for the sixnine months ended DecemberMarch 31, 2025,2026, were $888,414,$1,726,174, compared to $2,425,421$2,884,783 for 2024,2025, a decrease of $1,537,007,$1,158,609, which was
primarily related to a decrease in stock-based compensation expense of $1,570,146$1,568,501 associated with advisor agreements executed during the
sixnine months ended DecemberMarch 31, 2024.2025.
The following table summarizes
our cash flows from operating, investing, and financing activities for the sixnine months ended DecemberMarch 31, 2025,2026, and 20242025:
Net cash used in operating
activities for the sixnine months ended DecemberMarch 31, 2025,2026, was $464,531$2,457,275 versus net cash used in operating activities of $656,533$963,672 for the sixnine
months ended DecemberMarch 31, 2024,2025, aan decreaseincrease of $192,002.$1,493,603. The decreaseincrease in net cash used in operating activities was primarily due to decreaseincrease
in netprepaid lossinventory and stock-based compensationpurchased compared to the prior period.
There was no cashflow from
investing activities during the sixnine months ended DecemberMarch 31, 20252026 and December 31, 2024.2025.
Net cash provided by financing
activities during the sixnine months ended DecemberMarch 31, 20252026 was $432,100,$6,393,816, aan decreaseincrease of $526,429$5,305,287 from cash provided by financing activities
in 20242025 of $958,529.$1,088,529. Net cash provided consisted of proceeds from notes payable were $0, net advances from related party were $4,000,
proceeds proceeds
from exercise of common stock options were $600, and proceeds from related party notes wereof $448,000, and repayments on related notes
of $427,500 during the sixnine months ended December
31, 2025. During the six months ended DecemberMarch 31, 2025,2026. theThe Company issuedreceived 16,667net shares pursuant to the conversionproceeds of $99,996approximately in$6,427,000 notesafter deducting
payableunderwriting discounts and $4,311 of accrued interest.commissions.
Net
cash provided by financing activities during the sixnine months ended DecemberMarch 31, 20242025 was $958,529.$1,088,529. Net cash provided consisted of $94,750
of proceeds from loans from related party, $99,996 of proceeds from notenotes payable from a related party, partially offset by repayments
on related party notes payable, and repayment of advances from related party of $208,481.
As of DecemberMarch 31, 2025,2026, we had
cash of $17,399,
$3,986,371, and working capital deficit of $517,659.$4,988,091. We believe that our existing cash will not be sufficient to fund our present operations
during during
the next 12 months and beyond. However, the Company has still had minimal revenue to date, and negative cash flows from operations.
The Company’s audited annual consolidated financial statements have been prepared in accordance with
generally accepted accounting
principles applicable to a going concern, which assumes that the Company will be able to meet its obligations
and continue its operations
for its next fiscal year. Realization values may be substantially different from carrying values as shown
and these financial statements
do not give effect to adjustments that would be necessary to the carrying values and classification of
assets and liabilities should the
Company be unable to continue as a going concern. At DecemberMarch 31, 20252026 the Company had not yet achieved
consistent profitable operations
and expects to incur further losses in the development of its business, all of which raise substantial
doubt about the Company’s
ability to continue as a going concern. The Company’s ability to continue as a going concern is
dependent upon its ability to generate
future profitable operations and/or to obtain the necessary financing to meet its obligations and
repay its liabilities arising from normal
business operations when they come due. Management has initiated a formal sales and marketing
plan including direct email campaigns, industry
events, and business to business digital advertising to generate sales.
On February 2, 2026, we entered into an underwriting agreement (the “Underwriting Agreement”) with Craig-Hallum Capital Group LLC, in its capacity as underwriter (the “Underwriter”), relating to the Company’s public offering (the “Offering”) of shares of common stock, par value $0.001 per share (the “Common Stock”) pursuant to the Company’s registration statement on Form S-1 (File No. 333-291718) (the “Registration Statement”), under the Securities Act of 1933, as amended (the “Securities Act”). Pursuant to the Underwriting Agreement, the Company agreed to sell 2,333,333 shares of Common Stock at a public offering price of $3.00 per share (the “Offering Price”).
The Company has also agreed to issue the Underwriter a warrant to purchase 116,666 shares of the Company’s common stock at an exercise price of $3.45, which is 115% of the initial public offering price. The Underwriter’s warrant may be exercised in whole or in part, commencing on a date which is six months from February 4, 2026, until February 4, 2031 (the “Representative Warrant”).
InThe Offering closed on February
4, 2026, and the Company also raised gross
proceeds of approximately $6,461,000 after deducting underwriting discounts and commissions through the sale ofsold 2,333,333 shares of commonCommon Stock to the underwriters for total gross proceeds of approximately $7,000,000.
stockAfter deducting the underwriting commissions, discounts, and offering expenses, the Company received net proceeds of approximately $6,427,000.
The Company intends to raise additional funds pursuant to another equity offering to meet the capital requirements to manufacturermanufacture its
products. However, there is no assurance of additional funding being available
through thethese saleplans of additional equityor other sources.
During the period ended September
30, 2025, the Company issued a total of 20,000 shares of its common stock for subscriptions paid for during the year ended June
30, 2025, and issued 16,66716,666 shares pursuant to the conversionsettlement of $99,996 in notes payable and $4,311 of accrued interest.payable. During the period
ended September 30, 2024,
the Company sold a total of 23,000 shares of common stock for total proceeds of $138,000.
During the three months ended
DecemberMarch 31, 2024,2025, GenFlat sold a total of 139,04421,667 shares of its common stock in exchange for net cash proceeds of $834,264.$130,000. These shares
were issued subsequent to the period ended DecemberMarch 31, 2024.2025.
As of DecemberMarch 31, 2025,2026, there were no material changes
changes in our contractual obligations from those disclosed in our most recent Annual Report on Form 10-K filed with the Securities and Exchange
Exchange Commission on September 19, 2025, other than those appearing in the notes to the financial statements appearing elsewhere in
this Quarterly
Report on Form 10-Q.
Rental inventory consists
of collapsible marine shipping containers. Rental inventory is stated at cost, with an estimated useful life of 10 years. Generally, when
rental equipment is acquired, the Company estimates the period that it will hold the asset, primarily based on historical measures of
the amount of rental activity (e.g. equipment usage) and the targeted age of equipment at the time of disposal. The Company also estimates
the residual value of the applicable rental equipment at the expected time of disposal. The residual value for rental equipment is affected
by factors which include equipment age and amount of usage. Depreciation is recorded over the estimated holding period. Depreciation rates
are reviewed on a quarterly basis based on management's ongoing assessment of present and estimated future market conditions, their effect
on residual values at the time of disposal and the estimated holding periods. Market conditions for used equipment sales can also be affected
by external factors such as the economy, natural disasters, fuel prices, supply of similar used equipment, the market price for similar
new equipment and incentives offered by manufacturers of new equipment. These key factors are considered when estimating future residual
values and assessing depreciation rates. As a result of this ongoing assessment, the Company makes periodic adjustments to depreciation
rates of rental equipment in response to changed market conditions. We had an inventory impairment loss of $0 at DecemberMarch 31, 2025,2026, and 2025,
2024, related to a decline in the expected net realizable value of the 40 foot containers.
Accounts receivable is carried
at their estimated collectible amounts. Accounts receivable is periodically evaluated for collectability based on past credit history
with customers and their current financial condition. We had an allowance of $0 at DecemberMarch 31, 2025,2026, and recognized bad debt expense of
of $6,120 during the three monthsperiod ended DecemberMarch 31, 2025.2026. We had an allowance of $13,127 at June 30, 2025, and recognized credit losses
of $13,127
during the year ended June 30, 2025.
GFLT insider buying and selling (Form 4)
Since 2026-04-11, insiders reported open-market purchases in 0 Form 4 filings and open-market sales in 0 filings. Totals add up every open-market (code P and S) line in those filings, using the prices reported in the filings. Awards, option exercises, tax withholding and gifts are listed below but not counted.
| Trade date | Insider | Transaction | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-07-20 | Hall Garrett Ryan |
Option exercise | 330,000 | — | — |
| 2026-07-20 | Albanese Matthew John |
Option exercise | 330,000 | — | — |
Well-known investors holding GFLT (13F)
None of the 59 investors we track reported a position in their latest 13F.