Business Context and Reporting Period
This Form 10-Q covers the quarterly period ended June 30, 2019, for General Enterprise Ventures, Inc. (Note: The input metadata lists "Citrotech Inc.", but the filing text explicitly 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 operating activities, no assets, and no liabilities. The filing was signed on April 11, 2023.
Key Financial Metrics
| Metric | Value (June 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 (Three Months Ended June 30, 2018, and Six Months Ended June 30, 2018). The Company reported zero revenue, zero expenses, and zero cash flow for all periods presented. The accumulated deficit remained constant at $57,381,515.
Outlook, Risks, and Management Commentary
- Going Concern: The filing 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.
- Dormancy: Management explicitly states that because the Company was dormant from February 2010 through January 2021, no Management's Discussion and Analysis (MD&A) is provided.
- Controls and Procedures: While the report initially claims disclosure controls were effective, it subsequently clarifies that due to the Company's dormant status, disclosure controls and procedures as of June 30, 2019, are deemed ineffective.
- Risk Factors: No material changes to previously disclosed risk factors were reported.
- Legal Proceedings: The Company is subject to ordinary course legal proceedings but believes they will not have a material adverse effect.
Investor Verification Checklist
- Verify the discrepancy between the metadata company name ("Citrotech Inc.") and the filing issuer ("General Enterprise Ventures, Inc.").
- Confirm the Company's current operational status, as the filing indicates dormancy until January 2021.
- Review the significant stockholders' deficit of approximately $57.4 million and the lack of assets.
- Investigate the effectiveness of internal controls, which are explicitly noted as ineffective in the text.
- Check for any subsequent filings post-2021 to determine if the Company has resumed operations.