# EDGAR Filing Document

**Accession Number:** 0001121795
**File Stem:** 0001079973-25-001737
**Filing Date:** 2025-11
**Character Count:** 62276
**Document Hash:** a254029202e490f2a8bad082d286f52c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001079973-25-001737.hdr.sgml**: 20251114

**ACCESSION NUMBER**: 0001079973-25-001737

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 40

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251114

**DATE AS OF CHANGE**: 20251114

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GHST World Inc.
- **CENTRAL INDEX KEY:** 0001121795
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-PREPACKAGED SOFTWARE [7372]
- **ORGANIZATION NAME:** 06 Technology
- **EIN:** 912007477
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-31705
- **FILM NUMBER:** 251484770

**BUSINESS ADDRESS:**
- **STREET 1:** 3001 PGA BOULEVARD
- **STREET 2:** SUITE 305
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410
- **BUSINESS PHONE:** 561-686-3307

**MAIL ADDRESS:**
- **STREET 1:** 3001 PGA BOULEVARD
- **STREET 2:** SUITE 305
- **CITY:** PALM BEACH GARDENS
- **STATE:** FL
- **ZIP:** 33410

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Ghost Technology Inc.
- **DATE OF NAME CHANGE:** 20080922

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** I A EUROPE GROUP INC
- **DATE OF NAME CHANGE:** 20021209

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GENERAL TELEPHONY COM INC
- **DATE OF NAME CHANGE:** 20000810

?xml version='1.0' encoding='ASCII'?

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM 10-Q** 

**☒** **QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the quarterly period ended **September 30, 2025**

Or

**☐** **TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**

For the transition period from ___________ to ___________

Commission file number: **000-31705**

---

| |
|:---|
| **GHST World Inc.** |
| *(Exact name of registrant as specified in charter)* |

---

---

| | |
|:---|:---|
| **Delaware** | **91-2007477** |
| *(State or other jurisdiction of<br> incorporation or organization)* | *(I.R.S. Employer<br> Identification No.)* |
| **3001 PGA Blvd. Suite 305**<br> **Palm Beach Gardens, FL** | **33410** |
| *(Address of principal executive offices)* | *(Zip Code)* |

---

---

| |
|:---|
| **+1 (561) 686-3307** |
| *(Registrant's telephone number, including area code)* |

---

Securities registered pursuant to Section 12(b) of the Act: None

Indicate by checkmark whether the registrant has (1) filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§229.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

Indicate by checkmark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of "large accelerated filer," "accelerated filer", "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ <br> Non-accelerated filer ☒ Smaller reporting company ☒ <br> Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standard provided pursuant to Section 13(a) of the Exchange Act. ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☒

As of November 12, 2025, the issuer had 130,201,179 shares of its common stock, $0.001 par value per share, outstanding.

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
|  |  | **Page** |
|  | **PART I - Financial Information** |  |
| [Item 1](#a_001) | [Financial Statements](#a_001) | 1 |
|  | [Consolidated Balance Sheets – As of September 30, 2025 (Unaudited) and June 30, 2025](#a_002) | 1 |
|  | [Consolidated Statements of Operations (Unaudited) – For the Three Months Ended September 30, 2025 and 2024](#a_003) | 2 |
|  | [Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) – For the Three Months Ended September 30, 2025 and 2024](#a_004) | 3 |
|  | [Consolidated Statements of Cash Flows (Unaudited) – For the Three Months Ended September 30, 2025 and 2024](#a_005) | 4 |
|  | [Condensed Notes to Consolidated Financial Statements (Unaudited)](#a_006) | 5 |
| [Item 2](#a_007) | [Management's Discussion and Analysis of Financial Condition and Results of Operations](#a_007) | 10 |
| [Item 3](#a_008) | [Quantitative and Qualitative Disclosures About Market Risk](#a_008) | 12 |
| [Item 4](#a_009) | [Controls and Procedures](#a_009) | 12 |
|  | **Part II - Other Information** |  |
| [Item 1](#a_010) | [Legal Proceedings](#a_010) | 12 |
| [Item 1A](#a_011) | [Risk Factors](#a_011) | 12 |
| [Item 2](#a_012) | [Unregistered Sales of Equity Securities and Use of Proceeds](#a_012) | 12 |
| [Item 3](#a_013) | [Defaults Upon Senior Securities](#a_008) | 12 |
| [Item 4](#a_014) | [Mine Safety Disclosures](#a_014) | 12 |
| [Item 5](#a_015) | [Other Information](#a_015) | 12 |
| [Item 6](#a_016) | [Exhibits](#a_016) | 13 |
| [Signatures](#a_017) | [Signatures](#a_017) | 14 |

---

&nbsp;&nbsp;&nbsp;&nbsp;i

**PART I: FINANCIAL INFORMATION**

**ITEM 1. FINANCIAL STATEMENTS**

**GHST World Inc.**

**Consolidated Balance Sheets**

---

| | | |
|:---|:---|:---|
|  | **September 30, 2025** | **June 30, 2025** |
|  | **(Unaudited)** | |
| **<u>Assets</u>** | **<u>Assets</u>** | **<u>Assets</u>** |
| **Current Assets** |  |  |
| Cash | $1848 | $2518 |
| **Total Current Assets** | 1848 | 2518 |
| **Total Assets** | $**1848** | $**2518** |
| **<u>Liabilities and Stockholders' Deficit</u>** |  |  |
| **Current Liabilities** |  |  |
| Accounts payable and accrued expenses | $21663 | $28804 |
| Advances from related parties | 451491 | 417771 |
| Common stock payable | 9559 | 9559 |
| Deferred revenue | 44475 | 37506 |
| **Total Current Liabilities** | 527188 | 493640 |
| **Commitments and Contingencies (Note 7)** |  |  |
| **Stockholders' Deficit** |  |  |
| Preferred stock, $0.001 par value; 10,000,000 shares authorized; |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series A, 6,000 shares issued and outstanding at September 30, 2025 and June 30, 2025 | 6 | 6 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Series B, 2,200 shares issued and outstanding at September 30, 2025 and June 30, 2025 | 2 | 2 |
| Common stock, $0.001 par value, 300,000,000 shares authorized; 130,201,179 shares issued at September 30, 2025 and June 30, 2025 | 130201 | 130201 |
| Additional paid-in-capital | 13443466 | 13443466 |
| Accumulated deficit | (14099015) | (14064797) |
| **Total Stockholders' Deficit** | (525340) | (491122) |
| **Total Liabilities and Stockholders' Deficit** | $**1848** | $**2518** |

---

The accompanying notes are an integral part of these consolidated financial statements.

**GHST World Inc.**

**Consolidated Statements of Operations**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **For the Three Months Ended September 30,** | **For the Three Months Ended September 30,** |
|  | **2025** | **2024** |
| **Revenues** | $3485 | $45732 |
| **Operating expenses:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;General and administrative expenses | 35047 | 51766 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Patent development costs | 3476 | 6683 |
| **Total operating expenses** | 38523 | 58449 |
| **Other Income(expense):** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other income | 846 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other expense | (26) |  |
| **Total Other Income (expense)** | 820 |  |
| **Loss Before Income taxes** | (34218) | (12717) |
| **Provision for Income taxes** |  |  |
| **Net loss** | $(34218) | $(12717) |
| **Net loss per common share -** |  |  |
| **Basic** | $(0.00) | $(0.00) |
| **Diluted** | $(0.00) | $(0.00) |
| **Weight average number of common shares outstanding-** |  |  |
| **Basic** | 130201179 | 130201179 |
| **Diluted** | 130201179 | 130201179 |

---

The accompanying notes are an integral part of these consolidated financial statements.

**GHST World Inc.**

**Consolidated Statements of** 

**Changes in Stockholders' Deficit**

**For the Three Months Ended September 30, 2025 and 2024**

**(Unaudited)**

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | **Preferred Stock<br> Series A** | **Preferred Stock<br> Series A** | **Preferred Stock Series B** | **Preferred Stock Series B** | **Common Stock** | **Common Stock** | | | |
| | **Shares** | **Amount** | **Shares** | **Amount** | **Shares** | **Amount** | **Additional Paid in**<br>**Capital** | **Accumulated**<br>**Deficit** | **Total Stockholders'**<br>**Deficit** |
| Balance June 30, 2024 | **6000** | $**6** | **2200** | $**2** | **130201179** | $**130201** | $**13443466** | $**(13881949)** | $**(308274)** |
| Net loss for the three months ended September 30, 2024 |  |  |  |  |  |  |  | (12717) | (12717) |
| Balance September 30, 2024 | **6000** | $**6** | **2200** | $**2** | **130201179** | $**130201** | $**13443466** | $**(13894666)** | $**(320991)** |
| Balance June 30, 2025 | **6000** | $**6** | **2200** | $**2** | **130201179** | $**130201** | $**13443466** | $**(14064797)** | $**(491122)** |
| Net loss for the three months ended September 30, 2025 |  |  |  |  |  |  |  | (34218) | (34218) |
| Balance September 30, 2025 | **6000** | $**6** | **2200** | $**2** | **130201179** | $**130201** | $**13443466** | $**(14099015)** | $**(525340)** |

---

The accompanying notes are an integral part of these consolidated financial statements.

**GHST World Inc.**

**Consolidated Statements of Cash Flows**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **For the Three Months Ended September 30,** | **For the Three Months Ended September 30,** |
|  | **2025** | **2024** |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |
| Net loss | $(34218) | $(12717) |
| &nbsp;&nbsp;&nbsp;Adjustments to reconcile net loss to net cash used in operating activities: |  |  |
| Changes in operating assets and liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;Accounts receivable |  | 3749 |
| &nbsp;&nbsp;&nbsp;Accounts payable and accrued expenses | (7141) | 893 |
| &nbsp;&nbsp;&nbsp;Deferred revenue | 6969 | (37098) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Cash Used In Operating Activities | (34390) | (45173) |
| **CASH FLOWS FROM FINANCING ACTIVITIES** |  |  |
| &nbsp;&nbsp;&nbsp;Advances from related parties | 33720 | 29039 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Cash Provided By Financing Activities | 33720 | 29039 |
| Net increase (decrease) in cash | (670) | (16134) |
| Cash - beginning of period | 2518 | 18302 |
| Cash - end of period | $1848 | $2168 |
| **<u>SUPPLEMENTARY DISCLOSURE OF CASH FLOW INFORMATION:</u>** |  |  |
| Cash paid during the year/period for: |  |  |
| Interest | $— | $— |
| Taxes | $— | $— |

---

The accompanying notes are an integral part of these consolidated financial statements.

**GHST WORLD, INC.**

**Notes to Consolidated Financial Statements**

**September 30, 2025**

**(Unaudited)**

**NOTE 1- ORGANIZATION, DESCRIPTION OF BUSINESS** 

**Background** 

GHST World Inc. ("the Company"), is a Delaware corporation that was incorporated on November 12, 1999. The Company is a holding company for various technology and other activities. The Company has acquired and is developing several patents in the technology sector.

**Basis of Presentation**

The interim unaudited financial statements included herein have been prepared by the Company, pursuant to the rules and regulations of the Securities and Exchange Commission (the "SEC"). In management's opinion, all adjustments (consisting of normal recurring adjustments and reclassifications) necessary to present fairly our results of operations and cash flows for the three months ended September 30, 2025 and 2024, and our financial position as of September 30, 2025, have been made. The results of operations for such interim periods are not necessarily indicative of the operating results to be expected for the full year.

Certain information and disclosures normally included in the notes to the annual financial statements have been condensed or omitted from these interim financial statements. Accordingly, these interim unaudited financial statements should be read in conjunction with the financial statements and notes thereto for the year ended June 30, 2025.

**NOTE 2- SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND BASIS OF PRESENTATION**

**Liquidity and Going Concern**

The financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company had net losses of $34,218 and $12,717 for the three months ended September 30, 2025 and 2024. The Company has an accumulated deficit of $14,099,015 and $14,064,797 for the three months ended September 30, 2025 and the year ended June 30, 2025, respectively and a stockholders' deficit of $525,340 and $491,122 as of September 30, 2025 the year ended June 30, 2025. The Company used $34,390 and $45,173 in cash flow from operating activities for the three months ended September 30, 2025 and 2024.

Management believes these conditions raise substantial doubt about the Company's ability to continue as a going concern for the next twelve months from the date these financial statements were issued. The ability to continue as a going concern is dependent upon profitable future operations, positive cash flows, and additional financing. These financial statements do not include any adjustments related to the recovery and classification of recorded asset amounts and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

Management intends to raise money in the future through investors as needed to support its working capital needs. Currently the Company intends to raise capital from its existing shareholders and from the possible sale of a minority interest in its subsidiaries. Management cannot provide any assurances that the Company will be successful in completing these undertakings and accomplishing any of its plans.

**Principles of Consolidation**

The consolidated financial statements include the accounts of the following wholly owned subsidiaries:

&nbsp;&nbsp;&nbsp;&nbsp;· GHST Art World, Inc

&nbsp;&nbsp;&nbsp;&nbsp;· GHST Sport Inc.

&nbsp;&nbsp;&nbsp;&nbsp;· IoTT world Inc.

&nbsp;&nbsp;&nbsp;&nbsp;· Insside World Inc.

All intercompany balances and transactions have been eliminated in consolidation.

**GHST WORLD, INC.**<br>**Notes to Consolidated Financial Statements**<br>**September 30, 2025**<br>**(Unaudited)**<br>

**Concentration**

The Company's financial instruments that are exposed to concentrations of credit risk primarily consist of its cash. The Company places its cash with financial institutions of high credit worthiness. At times, its cash with a particular financial institution may exceed any applicable government insurance limits. The Company's management plans to assess the financial strength and credit worthiness of any parties to which it is a credit counterparty, and as such, it believes that any associated credit risk exposures are limited.

For the three months ended September 30, 2025 and 2024, the Company receives all its revenues and deferred revenues from just a few customers. The Company is dependent on related parties for short term funding, who have provided a significant portion of the funding through September 30, 2025.

**Foreign Currency**

Transaction gains and losses are recognized in earnings. The Company is subject to foreign exchange rate fluctuations in connection with the Company's international transactions as certain vendor payments and repayments of related party advances are done in foreign currency.

**Use of Estimates**

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Such estimates and assumptions impact, among others, the following: fair value of share-based payments and deferred taxes.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from estimates.

**Cash**

Cash are amounts held at local banks. The Company had no cash equivalents at September 30, 2025 and 2024.

**Risks and Uncertainties**

The Company is undertaking a new business venture that is inherently subject to significant risks and uncertainties, including financial, operational, technological and other risks that could potentially have a risk of business failure.

**Revenue Recognition**

The Company recognizes revenue in accordance with Accounting Standards Codification ("ASC") 606, the core principle of which is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled to receive in exchange for those goods or services. The provisions of ASC Topic 606 require the following steps to determine revenue recognition: (1) Identify the contract(s) with a customer; (2) Identify the performance obligations in the contract; (3) Determine the transaction price; (4) Allocate the transaction price to the performance obligations in the contract; and (5) Recognize revenue when (or as) the entity satisfies a performance obligation.

The Company derives most of its revenues to date from consulting services provided to the energy sector for the construction of solar energy plants. These services are contractual and contain identified performance obligations and are historically paid by the customer at the signing of the consulting contract. The Company recognizes revenues only when these identifiable performance obligations are satisfied. Payments that are received from customers in advance of when services are satisfactorily completed are reflected as deferred revenue on the accompanying consolidated balance sheets. Going forward the Company expects to be receiving revenues from longer-term surface rights agreements for energy production as described in Note 1. The Company will follow the revenue recognition policies as described above for the contracts.

**Accounts Receivable**

Accounts receivables are recorded at the invoiced amount. The Company regularly reviews its receivables on a customer-by-customer basis and evaluates whether an allowance for doubtful accounts is necessary based on any known or perceived collection issues. The Company has adopted ASC 326 to estimate expected credit losses. Management evaluates the allowance based on customer payment history. No credit losses have occurred. As of September 30, 2025 and 2024, the Company did not record any such allowance.

**GHST WORLD, INC.**<br>**Notes to Consolidated Financial Statements**<br>**September 30, 2025**<br>**(Unaudited)**<br>

**Fair Value**

The carrying value of cash, other assets, accounts and other payable approximate their fair value based on the liquidity or the short-term maturities of these instruments. The fair value hierarchy promulgated by GAAP consists of three levels:

&nbsp;&nbsp;&nbsp;&nbsp;· Level one — Quoted market prices in active markets for identical
assets or liabilities.

&nbsp;&nbsp;&nbsp;&nbsp;· Level two — Inputs other than level one inputs that are either
directly or indirectly observable; and

&nbsp;&nbsp;&nbsp;&nbsp;· Level three — Unobservable inputs developed using estimates and
assumptions, which are developed by the reporting entity and reflect those assumptions that a market participant would use.

Determining which category an asset or liability falls within the hierarchy requires significant judgment. The Company evaluates its hierarchy disclosures each quarter. The Company has no assets or liabilities that are measured at fair value on a recurring and/or non-recurring during the three months ended September 30, 2025 and 2024.

**Impairment of Long-Lived Assets**

The Company accounts for impairment of long-lived assets in accordance with Accounting Standards Codification ("ASC") 360, Property, Plant and Equipment, ("ASC 360"). Long-lived assets for the Company consist primarily of other assets and patents. In accordance with ASC 360, the Company periodically evaluates long-lived assets whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When triggering event indicators are present, the Company obtains appraisals on an asset-by-asset basis and will recognize an impairment loss when the sum of the appraised values is less than the carrying amounts of such assets. The appraised values, based on reasonable and supportable assumptions and projections, require subjective judgments. Depending on the assumptions and estimates used, the appraised values projected in the evaluation of long-lived assets can vary within a range of outcomes. The appraisals consider the likelihood of possible outcomes in determining the best estimate for the value of the assets.

**Research and Development**

Research and development costs are expensed as incurred. These costs consist primarily of costs related to the development of new products.

**Segment Information**

The Company operates as a single operating segment and single reportable segment. Operating segments are defined as components of a business that can earn revenue and incur expenses and for which discrete financial information is evaluated regularly by the chief operating decision maker ("CODM") in deciding how to allocate resources and assess performance. The Company's CODM, the Chief Executive Officer, allocates resources and assesses performance based upon condensed consolidated financial information due to the interconnected relationship of the Company's products to the same customers, therefore manages its business as a single operating segment.

**Income Taxes**

Deferred tax assets and liabilities are recognized for the future tax consequences attributable to temporary differences between the financial statement carrying amounts of existing assets and liabilities and the respective tax bases. Deferred tax assets, including tax loss and credit carryforwards, and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled. The effect on deferred tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred income tax expense represents the change during the period in the deferred tax assets and deferred tax liabilities. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.

The effect of income tax positions is recognized only if those positions are more likely than not of being sustained. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which the change in judgment occurs.

**Stock Based Compensation**

The Company applies the fair value method of ASC 718, Share Based Payment, in accounting for its stock-based compensation. This accounting standard states that compensation cost is measured at the grant date based on the value of the award and is recognized over the service period, which is usually the vesting period, if any. We measure stock-based compensation using the fair market value of the Company's common stock on the date of the grant.

**GHST WORLD, INC.**<br>**Notes to Consolidated Financial Statements**<br>**September 30, 2025**<br>**(Unaudited)**<br>

**Net Loss Per Share**

Basic net loss per share is computed by dividing the net loss by the weighted average number of shares of common stock outstanding during the periods presented. Diluted net loss per common share is computed using the weighted average number of common shares outstanding for the period, and, if dilutive, potential common shares outstanding during the period. Potential common shares consist of the incremental common shares issuable upon the exercise of stock options, stock warrants, convertible debt instruments or other common stock equivalents. Potentially dilutive securities are excluded from the computation if their effect is anti-dilutive. The Company had no potentially dilutive securities outstanding for the three months ended September 30, 2025 or 2024.

**Recent Accounting Pronouncements**

In November 2023, the Financial Accounting Standards Board, or FASB, issued Accounting Standards Update, or ASU, 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures. The ASU requires disclosure of significant segment expenses that are regularly provided to the chief operating decision maker and included within each reported measure of segment profit or loss. All disclosure requirements under ASU 2023-07 are required for public entities with a single reportable segment. The ASU is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024, on a retrospective basis, with early adoption permitted. The Company implemented this new guidance during the year ended September 30, 2025 with no impact on the Company's consolidated financial statements.

In December 2023, the Financial Accounting Standards Board ("FASB") issued ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which requires disaggregated information about a company's effective tax rate reconciliation and requires disclosure of income taxes paid by jurisdiction. The amendments are effective for fiscal years beginning after December 15, 2024, which require us to adopt the provisions for the year ending June 30, 2026 Form 10-K. The amendments should be applied prospectively; however, retrospective application is permitted. Management does not expect this ASU to have a material impact on our disclosures.

In November 2024, the FASB issued ASU 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires, for each relevant expense caption on the income statement, detailed disclosure amounts for purchases of inventory, employee compensation, depreciation, and intangible asset amortization. In addition, this ASU requires companies to include amounts already required by GAAP in the same disclosure, provide a qualitative description of remaining amounts not separately disaggregated, and disclose the amount of total selling expenses along with the companies' definition of selling expenses. The amendment is effective for fiscal years beginning after December 15, 2026, which would require us to adopt the provisions during the year ending June 30, 2028 Form 10-K. Early adoption is permitted. The amendments should be applied prospectively; however, retrospective application is permitted. Management is currently evaluating this ASU to determine its impact on our disclosures.

We have reviewed all the recently issued, but not yet effective, accounting pronouncements and we do not believe any of these pronouncements will have a material impact on the Company.

**NOTE 3- PATENTS**

The Company obtained a US patent dated June 30, 2020, which is a protection device used in sporting activity with monitoring capabilities. The Company has also obtained a European and Hong Kong Patent for the same device in March 2023. The Company has incurred a total of $71,651 of costs to register and develop the patent, since obtaining such patent. For the three months ended September 30, 2025 and 2024, the Company has incurred $3,476 and $6,683, respectively of patent costs that were recorded as operating expenses on the accompanying financial statements.

**NOTE 4- COMMON STOCK PAYABLE**

The Company has an agreement with certain investors to convert their investment into common stock of the Company at a price equal to the average value of the stock over the previous six months. The conversion was contingent on the Company effectuating a 1-for-100 reverse stock split which was affected on September 30, 2021. As of September 30, 2025 and 2024, the Company has a total of $9,559 that has not been converted to common stock.

**GHST WORLD, INC.**<br>**Notes to Consolidated Financial Statements**<br>**September 30, 2025**<br>**(Unaudited)**<br>

**NOTE 5- RELATED PARTY TRANSACTIONS**

At September 30, 2025 and June 30, 2025, the Company owed related parties a total of $451,491 and $417,771, respectively. These shareholder loans are unsecured, non-interest bearing and are due on demand.

As shown in Note 4, the Company has committed to converting certain debts to equity. Included in the debts is $9,559 as of September 30, 2025 and 2024, of amounts due to related parties that will be converted as described in Note 4.

As of September 30, 2025, the Company incurred travel expenses to assist a shareholder establishing a bank account for a future share exchange. The $846 reimbursement was recorded as other income.

**NOTE 6- STOCKHOLDERS' DEFICIT**

**Preferred Stock Series A and B**

The Company is authorized to issue a total 10,000,000 shares of any class of Preferred stock. There are currently 6,000 shares of Series A Preferred Stock and 2,200 shares of Preferred Series B Stock issued and outstanding, Series A Preferred Stock is entitled to 25,000 votes per share and Series B Preferred Stock has a special liquidation preference equal to $27.50 per share.

**NOTE 7- COMMITMENTS AND CONTINGENCIES**

**Legal Matters**

From time to time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. There are no pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations.

**NOTE 8- INCOME TAXES**

The Company accounts for income taxes under ASC 740, Income Taxes, which requires the recognition of deferred tax assets and liabilities based on the difference between the financial statement basis and tax basis of assets and liabilities by using enacted tax rates in effect for the year. The company had no unrecognized tax benefits at September 30, 2025 or 2024.

The Company has accumulated losses of approximately $14.1 million since its inception. For income tax purposes, the Company has operating loss carryforwards of approximately $3.6 million from tax years beginning in 2007, that begin to expire in 2027. These operating losses are subject to the limitations which were enacted in the Tax Cuts and Jobs Act ("TCJA"). These operating losses can offset only 80% of taxable income in any given tax year. The carryover period for these operating losses is indefinite. No federal or state tax asset has been reported in the financial statements because the Company believes there is a 50% or greater chance that the carryforwards will expire unused. Accordingly, the potential tax benefits of the loss carryforwards (approximately a deferred tax asset of $913,000 based on an effective combined federal and state tax rate of 25.35%) have been offset by a valuation allowance of the same amount.

**NOTE 9- SUBSEQUENT EVENTS**

The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the consolidated financial statements were issued for potential recognition or disclosure. The Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements.

**ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION**

**Overview; Recent Developments**

We are a holding company that has been seeking to exploit a patent and obtain and exploit future patents for the Smart Shin Guard. Because of the delays in developing a business and in being able to monetize the Smart Shin Guard business and due to our continuing losses, we are currently focusing on electricity production from solar plants to be developed in Italy and engaging in energy trading.

The Smart Shin Guard is a wearable protective device designed to be used while playing soccer and other sports combined with data collection and analysis technology that monitors players' individual and collective physical and performance-based metrics and transmits this information to a separate module in real-time. We are relying on the ability to raise the necessary capital to exploit the patents we acquired for the Smart Shin Guard. We plan to market and sell this product to athletes, sports teams, organizations and leagues, with an initial focus on professional and amateur soccer (football) teams and leagues, both within the U.S. and abroad.

In addition, in late 2024 and early 2025 the Company has entered into certain agreements for a new clean energy business through Insside. These agreements provide for the Company's purchase of surface rights of certain land in Italy for solar energy projects, the construction of solar energy plants by a new special purpose entity, Green Capital SRL ("Green Capital"), an Italian company in Bergamo, which is charged with the duty of raising substantial capital to build solar plants, assuming financing is obtained and the sale of electricity from such projects and any separate arrangements we may undertake with respect to the sale of electricity.

We have not generated revenue on a consistent basis or in amounts which are necessary to offset operating losses, and need substantial additional financing to continue the development and commercialization of our business plan and related products and services. However, we expect to generate revenue from the sale of electricity to third parties under separate arrangements which we are in the process of negotiating and structuring, as well as from our existing arrangements with Green Capital if and when Green Capital is able to raise the necessary capital to construct the solar plants contemplated by those arrangements. See Note 1 in the accompanying footnotes to our financial statements contained in this Report. However, no assurances can be given that these efforts will result in us generating material revenue on a consistent basis or at all.

**Results of Operations**

The following discussion should be read in conjunction with the financial statements and notes thereto included elsewhere in this Report.

<u>Fiscal Quarter Ended September 30, 2025 Compared to the Fiscal Quarter Ended September 30, 2024</u>

We had $3,485 in revenue in the three months ended September 30, 2025 compared to $45,732 revenue for the three months ended September 30, 2024, and we sustained net losses of $34,218 and $12,717, respectively, in those periods.

During the three months ended September 30, 2025 and 2024, operating expenses were $38,523 and $58,449, respectively, which consisted of general and administrative expenses, including professional fees for legal and financial services, and patent development costs.

We do not expect to generate material revenue unless and until we can implement our business plan and begin marketing and selling our products and services in sufficient quantities, which has been delayed due to a combination of our limited capital resources and external forces resulting in delays in the development of our business, which has and until completed will continue to adversely affect our marketing capabilities. In addition, our focus on multiple businesses beginning in recent periods may further delay these efforts and our operating results given our limited resources and personnel.

In order to become profitable, we will need to complete the development of a functional Smart Shin Guard product and thereafter establish a sufficient market for such product, including internationally, to offset our development, manufacturing and advertising costs, and our ability to do so will be subject to a number of factors, many of which will be beyond our control. We will also need to establish and maintain sufficient resources and infrastructure to pursue material operations in the clean energy space. In order to achieve our business objectives, we will need to access sufficient capital, form strategic alliances and develop an adequate market with respect to our business plans and any future business opportunities we may pursue.

**Liquidity and Capital Resources**

<u>Net Cash used in Operating Activities</u>:

For the three months ended September 30, 2025, the Company used net cash of $(34,390) in operating activities as compared to $(45,173) for the three months ended September 30, 2024. Key factors included accounts payable and accrued expenses of $(7,141) for the 2025 period compared to $893 for the 2024 period and deferred revenue of $6,969 for the 2025 period compared to $(37,098) for the 2024 period.

<u>Cash Flows provided by Financing Activities</u>:

Cash flows provided by financing activities for the three months ended September 30, 2025 were $33,720 compared to $29,039 for the three months ended September 30, 2024, in each case reflecting advances from related parties.

<u>Liquidity</u>

We have $1,848 in available cash as of September 30, 2025. For the past two years we have been relying on loans from our current investors and related parties and proceeds from sales of our common stock to fund our operations. As reflected in Note 2 in the footnotes to the financial statements contained in this Report, management has expressed substantial doubt about our ability to continue as a going concern for the next 12 months from the date the financial statements were issued, unless we can raise the required capital or generate material revenue to fund our operations.

We do not have sufficient capital to support our operations for the next 12 months and will dependent upon on the proceeds from a financing, which may consist of sales of our common stock, the issuance of debt securities and/or issuance of securities convertible into shares of our common stock, any of which could have a dilutive effect on our existing shareholders. We intend to continue to raise capital from existing investors if and to the extent possible. We estimate that we will need to raise at least $250,000 in order to meet our working capital needs for the next 12 months. We plan to phase in our expenses and grow our business as working capital is available.

There can be no assurances that we will be able to raise additional capital. The inability to raise capital would adversely affect our ability to achieve our business objectives. In addition, if our operating performance during the next 12 months is below our expectations, our liquidity and ability to operate our business could be adversely affected. We continue to monitor macro-economic factors such as inflationary pressures, heightened central bank interest rates and recessionary fears, as well as trends within the industries in which we operate or plan to operate, all of which may affect our working capital requirements and ability to raise funding for our operations within the timeframes desired, on favorable terms or at all. See "Risk Factors" on the Company's Annual Filing on Form 10-K filed with the Securities and Exchange Commission on October 14, 2025.

**Cautionary Note Regarding Forward Looking Statements**

This Report contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding our business plans and prospective operations and arrangements involving the construction of solar plants and the sale of electricity and potential transactions and potential future revenue and other benefits of such plan and operations, the development of the Smart Shin Guard and plans to pursue a market for and begin commercializing the product, future sources of revenue and anticipated timing and efforts relating to revenue-generating activities, our exploration of potential new business opportunities, the implementation of our business plan and expected timelines for meeting objectives, strategic alliances, our capital raising efforts and our liquidity. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects" and similar references to future periods.

Forward-looking statements are based on our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you therefore against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. The results anticipated by any or all of these forward-looking statements might not occur. Important factors, uncertainties and risks that may cause actual results to differ materially from these forward-looking statements include the risks arising from any inability to raise sufficient capital by us or our related party partner or otherwise proceed with our business plans, the potential adverse effects of United States tariffs and any retaliatory actions, interest rates, a deteriorating labor market, volatility in the capital markets, geopolitical conflicts such as those occurring in Israel and Ukraine and negative operational impacts or an economic downturn or recession which may result, which may result in delays or obstacles in or prevent us from raising capital as and when needed or at all, supply chain disruptions, shortages and delays and other potential unforeseen events which may adversely affect our ability to develop, manufacture and sell our products and/or offer any services within the intended timeframes or at all, declines in consumer and business spending, risks and uncertainties surrounding the new business opportunities we seek to pursue in the clean energy sector, and the risks disclosed in our prior filings with the SEC including in our Annual Report on Form 10-K for the fiscal year ended June 30, 2025 under "Item 1A. – Risk Factors." We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise.

**ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK**

Not applicable.

**ITEM 4. CONTROLS AND PROCEDURES**

<u>Evaluation of Disclosure Controls and Procedures</u>

We carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer, of the effectiveness of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) of the Securities Exchange Act of 1934 (the "Exchange Act") as of the end of the period covered by this Report. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer have concluded that our disclosure controls and procedures as of September 30, 2025 were not effective to ensure that information required to be disclosed by us in reports that we file or submit under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms because of a material weakness in the Company's internal control over financial reporting. Specifically, the Company did not maintain effective controls to identify and maintain segregation of duties to support the identification, authorization, approval, accounting for, and the disclosure of related-party transactions and non-routine transactions. One individual, the Chief Executive Officer, initiates related-party transactions and non-routine transactions and also reviews, evaluates and approves these same transactions.

**Changes in Internal Control Over Financial Reporting**

There were no changes in our internal control over financial reporting as defined in Rule 13a-15(f) or 15d-15(f) under the Exchange Act that occurred during the period covered by this Report that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

**PART II: OTHER INFORMATION**

**ITEM 1. LEGAL PROCEEDINGS**

From time-to-time, we may be involved in litigation relating to claims arising out of our operations in the normal course of business. As of the date of this Report, we are not aware of any other pending or threatened lawsuits that could reasonably be expected to have a material effect on the results of our operations and there are no proceedings in which any of our directors, officers or affiliates, or any registered or beneficial shareholder, is an adverse party or has a material interest adverse to our interest.

**ITEM 1A. RISK FACTORS**

Not applicable.

**ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS**

All unregistered sales of equity securities through the period covered by this Report have previously been disclosed.

**ITEM 3. DEFAULTS UPON SENIOR SECURITIES**

None.

**ITEM 4. MINE SAFETY DISCLOSURES**

Not applicable.

**ITEM 5. OTHER INFORMATION**

During the three months ended September 30, 2025, none of our directors or officers (as defined in Rule 16a-1(f) under the Exchange Act) adopted or terminated any contract, instruction or written plan for the purchase or sale of our securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act or any "non-Rule 10b5-1 arrangement" as defined in Item 408(c) of Regulation S-K.

**ITEM 6. EXHIBITS**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | |
| <br>**Exhibit #** | <br>**Exhibit Description** | **Form** | **Date** | **Number** | **Filed or**<br> **Furnished**<br>**Herewith** |
| 2.1 | [Certificate of Merger](https://www.sec.gov/Archives/edgar/data/1121795/000135448810000486/gost_ex32.htm) | 10-K | 2/18/2010 | 3.2 |  |
| 3.1 | [Amended and Restated Certificate of Incorporation](http://www.sec.gov/Archives/edgar/data/1121795/000155335021000175/ghst_ex3z1.htm) | 10-12G | 3/9/2021 | 3.1 |  |
| 3.1(a) | [Certificate of Amendment to Certificate of Incorporation (Reverse Stock Split)](http://www.sec.gov/Archives/edgar/data/1121795/000155335021001030/ghst_ex3z2.htm) | 10-Q | 11/15/2021 | 3.2 |  |
| 3.1(b) | [Certificate of Amendment to Certificate of Incorporation (Decrease in Authorized Capital)](http://www.sec.gov/Archives/edgar/data/1121795/000155335021001030/ghst_ex3z3.htm) | 10-Q | 11/15/2021 | 3.3 |  |
| 3.1(c) | [Certificate of Designation](http://www.sec.gov/Archives/edgar/data/1121795/000135448810000486/gost_ex33.htm) | 10-K | 2/18/2010 | 3.3 |  |
| 3.2 | [Amended and Restated Bylaws](http://www.sec.gov/Archives/edgar/data/1121795/000155335021000175/ghst_ex3z3.htm) | 10-12G | 3/9/2021 | 3.3 |  |
| 31.1 | [Certification of Principal Executive Officer (302)](ex31x1.htm) |  |  |  | Filed |
| 31.2 | [Certification of Principal Financial Officer (302)](ex31x2.htm) |  |  |  | Filed |
| 32.1 | [Certification of Principal Executive and Principal Financial Officers (906)](ex32x1.htm) |  |  |  | Furnished\* |
| 101.INS | Inline XBRL Instance Document (the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document) |  |  |  | Filed |
| 101.SCH | Inline XBRL Taxonomy Extension Schema Document |  |  |  | Filed |
| 101.CAL | Inline XBRL Taxonomy Extension Calculation Linkbase Document |  |  |  | Filed |
| 101.DEF | Inline XBRL Taxonomy Extension Definition Linkbase Document |  |  |  | Filed |
| 101.LAB | Inline XBRL Taxonomy Extension Label Linkbase Document |  |  |  | Filed |
| 101.PRE | Inline XBRL Taxonomy Extension Presentation Linkbase Document |  |  |  | Filed |
| 104 | Cover Page Interactive Data File (formatted as Inline XBRL and contained in Exhibit 101) |  |  |  | Filed |

---

\*This exhibit is being furnished rather than filed and shall not be deemed incorporated by reference into any filing, in accordance with Item 601 of Regulation S-K.

&nbsp;&nbsp;&nbsp;&nbsp;

Copies of the exhibits referred to above will be furnished at no cost to our shareholders who make a written request to GHST World Inc., 3001 PGA Blvd., Suite 305, Palm Beach Gardens, FL 33410.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

---

| | | | |
|:---|:---|:---|:---|
|  |  | **GHST World Inc.** | **GHST World Inc.** |
| Dated: | November 14, 2025 | By: | */s/* Roberto Castellazzi |
|  |  |  | Roberto Castellazzi, Chief Executive Officer |
|  |  |  | (Principal Executive Officer)<br>|
| Dated: | November 14, 2025 | By: | */s/* Marcello Appella |
|  |  |  | Marcello Appella, Chief Financial Officer |
|  |  |  | (Principal Financial Officer)<br>|

---

## Exhibit 31.1

**Exhibit 31.1** 

**CERTIFICATION OF PRINCIPAL EXECUTIVE OFFICER**

I, Roberto Castellazzi, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of GHST World Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 14, 2025

---

| |
|:---|
| /s/ Roberto Castellazzi |
| Roberto Castellazzi<br> Chief Executive Officer<br> (Principal Executive Officer) |

---

## Exhibit 31.2

**Exhibit 31.2**

**CERTIFICATION OF PRINCIPAL FINANCIAL OFFICER**

I, Marcello Appella, certify that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. I have reviewed this quarterly report on Form 10-Q of GHST World Inc.;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;c. Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;d. Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5. The registrant's other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;a. All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize and report financial information; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;b. Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: November 14, 2025

---

| |
|:---|
| /s/ Marcello Appella |
| Marcello Appella<br> Chief Financial Officer<br> (Principal Financial Officer) |

---

## Exhibit 32.1

**Exhibit 32.1**

**CERTIFICATION PURSUANT TO 18 U.S.C. SECTION 1350, AS ADOPTED PURSUANT TO SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002** 

In connection with the quarterly report of GHST World Inc. (the "Company") on Form 10-Q for the quarter ended September 30, 2025, as filed with the Securities and Exchange Commission on the date hereof, I, Roberto Castellazzi, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The quarterly report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the quarterly report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| |
|:---|
| /s/ Roberto Castellazzi |
| Roberto Castellazzi<br> Chief Executive Officer<br> (Principal Executive Officer) |

---

Dated: November 14, 2025

In connection with the quarterly report of GHST World, Inc. (the "Company") on Form 10-Q for the quarter ended September 30, 2025, as filed with the Securities and Exchange Commission on the date hereof, I, Marcello Appella, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that to my knowledge:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The quarterly report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934 and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the quarterly report fairly presents, in all material respects, the financial condition and results of operations of the Company.

---

| |
|:---|
| /s/ Marcello Appella |
| Marcello Appella<br> Chief Financial Officer<br> (Principal Financial Officer) |

---

Dated: November 14, 2025