Business Context and Reporting Period
This Form 10-Q covers the quarterly period ended September 30, 2019, for General Enterprise Ventures, Inc. (Note: The request metadata lists "Citrotech Inc.", but the filing text identifies the issuer as General Enterprise Ventures, Inc.). The Company was dormant from February 2010 through January 2021. During the reporting period, the Company had no assets, no liabilities, and no operating activities. The filing was signed on April 11, 2023.
Key Financial Metrics
| Metric | Value (Sep 30, 2019) |
|---|---|
| Revenue | $0 |
| Net Income (Loss) | $0 |
| Operating Expenses | $0 |
| Cash and Cash Equivalents | $0 |
| Total Assets | $0 |
| Total Liabilities | $0 |
| Stockholders' Deficit | ($57,381,515) |
| Shares Outstanding | 22,945,388 |
Material Changes vs. Prior Period
There were no material changes in financial position or results of operations compared to the prior comparable periods (September 30, 2018, and December 31, 2018). The Company remained dormant with zero revenue, zero expenses, and zero cash. All assets were deemed disposed of for no value in 2010, and all liabilities were written off in 2017 due to the expiration of the statute of limitations. Consequently, the balance sheet and income statement remained flat at zero for all activity lines.
Outlook, Risks, and Management Commentary
- Going Concern: The filing explicitly states that the Company's ability to continue as a going concern is in substantial doubt due to a lack of cash and a significant stockholders' deficit.
- Management Commentary: No Management's Discussion and Analysis (MD&A) is provided because the Company was dormant. The financial statements reflect a methodology where all assets were impaired and liabilities written off in prior years.
- Controls and Procedures: Management concluded that disclosure controls and procedures were ineffective as of September 30, 2019, due to the dormant status of the Company.
- Risks: The filing notes no material changes to previously disclosed risk factors. Legal proceedings are described as ordinary course matters with no expected material adverse effect.
Investor Verification Checklist
- Verify the discrepancy between the request metadata ("Citrotech Inc.") and the actual issuer name in the filing ("General Enterprise Ventures, Inc.").
- Confirm the Company's dormant status and lack of operations between 2010 and 2021.
- Review the significant accumulated deficit of approximately $57.4 million against zero assets.
- Assess the effectiveness of internal controls, which were explicitly deemed ineffective in this filing.
- Check for any subsequent filings post-2021 regarding the Company's revival or new business activities.