# EDGAR Filing Document

**Accession Number:** 0001693687
**File Stem:** 0001640334-25-001952
**Filing Date:** 2025-11
**Character Count:** 51880
**Document Hash:** 6301169b3ec5acc5299b1788862ddb2f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001640334-25-001952.hdr.sgml**: 20251103

**ACCESSION NUMBER**: 0001640334-25-001952

**CONFORMED SUBMISSION TYPE**: 10-Q

**PUBLIC DOCUMENT COUNT**: 36

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251103

**DATE AS OF CHANGE**: 20251103

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** GREENLIT VENTURES INC.
- **CENTRAL INDEX KEY:** 0001693687
- **STANDARD INDUSTRIAL CLASSIFICATION:** SERVICES-MANAGEMENT CONSULTING SERVICES [8742]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 814679061
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 10-Q
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 000-55738
- **FILM NUMBER:** 251443508

**BUSINESS ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 717 FULIN HOTEL
- **STREET 2:** 1805 HEPING ROAD
- **CITY:** LUOHU, SHENZHEN
- **PROVINCE COUNTRY:** F4
- **BUSINESS PHONE:** 604-671-9998

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 717 FULIN HOTEL
- **STREET 2:** 1805 HEPING ROAD
- **CITY:** LUOHU, SHENZHEN
- **PROVINCE COUNTRY:** F4

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MS YOUNG ADVENTURE ENTERPRISE, INC.
- **DATE OF NAME CHANGE:** 20190826

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AllyMe Holding Inc.
- **DATE OF NAME CHANGE:** 20171124

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Rain Sound Acquisition Corp
- **DATE OF NAME CHANGE:** 20170104

?xml version='1.0' encoding='ASCII'? msyn_10q.htm

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**Form 10-Q**

(Mark One)

---

| | |
|:---|:---|
| ☒ | QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|  | For the quarterly period ended **<u>September 30, 2025</u>**  |

---

or

---

| | |
|:---|:---|
| ☐ | TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|  | For the transition period from _________ to _________ |
| Commission File Number **<u>000-55738</u>**  | Commission File Number **<u>000-55738</u>**  |

---

---

| |
|:---|
| **Greenlit Ventures Inc.** |
| (Exact name of registrant as specified in its charter) |

---

---

| | |
|:---|:---|
| **Delaware** | **81-4679061** |
| (State or other jurisdiction of<br>incorporation or organization) | (IRS Employer<br>Identification No.) |
| **9169 W State St #3147 Garden City, ID** | **83714** |
| (Address of principal executive offices) | (Zip Code) |

---

**<u>208-639-9860</u>**

(Registrant's telephone number, including area code)

**<u>N/A</u>**

(Former name, former address and former fiscal year, if changed since last report)

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered |
| **Common Stock, par value $0.0001** | **GLVT** |  |

---

Indicate by check mark whether the registrant (1) has 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 (§232.405 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 check mark 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 | ☐ |
| Non-accelerated Filer | ☒ | Smaller reporting company | ☒ |
|  |  | 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 standards 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 Exchange Act) ☐ YES ☒ NO

APPLICABLE ONLY TO ISSUERS INVOLVED IN BANKRUPTCY

PROCEEDINGS DURING THE PRECEDING FIVE YEARS

Check whether the registrant has filed all documents and reports required to be filed by Sections 12, 13 or 15(d) of the Exchange Act after the distribution of securities under a plan confirmed by a court. ☐ YES ☐ NO

APPLICABLE ONLY TO CORPORATE ISSUERS

Indicate the number of shares outstanding of each of the issuer's classes of common stock, as of the latest practicable date.

4,082,479 common shares issued and outstanding as of October 14, 2025.

**TABLE OF CONTENTS**

---

| | | |
|:---|:---|:---|
| **[PART I - FINANCIAL INFORMATION](#p1)** | **[PART I - FINANCIAL INFORMATION](#p1)** |  |
| [Item 1.](#i1) | [Financial Statements](#i1) | 3 |
| [Item 2.](#i2) | [Management's Discussion and Analysis of Financial Condition or Plan of Operation](#i2) | 13 |
| [Item 3.](#i3) | [Quantitative and Qualitative Disclosures About Market Risk](#i3) | 17 |
| [Item 4.](#i4) | [Controls and Procedures](#i4) | 17 |
| **[PART II - OTHER INFORMATION](#p2)** | **[PART II - OTHER INFORMATION](#p2)** |  |
| [Item 1.](#p2i1) | [Legal Proceedings](#p2i1) | 18 |
| [Item 1A.](#p1i1a) | [Risk Factors](#p1i1a) | 18 |
| [Item 2.](#p2i2) | [Unregistered Sales of Equity Securities and Use of Proceeds](#p2i2) | 18 |
| [Item 3.](#p2i3) | [Defaults Upon Senior Securities](#p2i3) | 18 |
| [Item 4.](#p2i4) | [Mine Safety Disclosures](#p2i4) | 18 |
| [Item 5.](#p2i5) | [Other Information](#p2i5) | 18 |
| [Item 6.](#p2i6) | [Exhibits](#p2i6) | 19 |
| **[SIGNATURES](#sig)** | **[SIGNATURES](#sig)** | 20 |

---

---

| |
|:---|
| 2 |
| *[**Table of Contents**](#TOC)* |

---

**PART I - FINANCIAL INFORMATION**

**Item 1. Financial Statements**

**GREENLIT VENTURES INC.**

**Condensed Balance Sheets**

---

| | | |
|:---|:---|:---|
|  | **September 30,** <br>**2025** | **December 31,**<br> **2024** |
|  | **(Unaudited)** | **(Audited)** |
| **ASSETS**  |  |  |
| **Current Assets**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Assets |  |  |
| **TOTAL ASSETS**  | $- | $- |
| **LIABILITIES AND STOCKHOLDERS' DEFICIT**  |  |  |
| **Current Liabilities**  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | $6562 | $5793 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 30381 | 19832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Current Liabilities | 36943 | 25625 |
| &nbsp;&nbsp;&nbsp;&nbsp;Convertible note payable, net of debt discount | 191001 | 163320 |
| Total Liabilities | 227944 | 188945 |
| **Stockholders' Deficit**  |  |  |
| Preferred stock, par value $0.0001; 20,000,000 shares authorized, none shares issued and outstanding |  |  |
| Common stock, par value $0.0001; 100,000,000 shares authorized, 4,082,479 shares issued and outstanding | 408 | 408 |
| Additional paid-in capital | 533807 | 533807 |
| Accumulated deficit | (762159) | (723160) |
| Total Stockholders' Deficit | (227944) | (188945) |
| **TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT**  | $- | $- |

---

*The accompanying notes are an integral part of these unaudited condensed financial statements*

---

| |
|:---|
| 3 |
| *[**Table of Contents**](#TOC)* |

---

**GREENLIT VENTURES INC.**

**Condensed Statements of Operations**

**(Unaudited)**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** | **Nine Months Ended**  | **Nine Months Ended**  |
|  | **September 30,** | **September 30,** | **September 30,** | **September 30,** |
|  | **2025** | **2024** | **2025** | **2024** |
| **OPERATING EXPENSES** |  |  |  |  |
| Professional fees | $5583 | $3976 | $28451 | $35069 |
| Professional fees - related party (including stock-based compensation of $0 and $175,000, respectively) | - | - | - | 175000 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Operating Expenses | 5583 | 3976 | 28451 | 210069 |
| **OTHER EXPENSE** |  |  |  |  |
| Interest expense | (3788) | (3152) | (10548) | (8823) |
|  | (3788) | (3152) | (10548) | (8823) |
| **NET LOSS** | $(9371) | $(7128) | $(38999) | $(218892) |
| **NET LOSS PER SHARE: BASIC AND DILUTED** | $(0.00) | $(0.00) | $(0.01) | $(0.07) |
| **WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED** | 4082479 | 4082479 | 4082479 | 3036704 |

---

*The accompanying notes are an integral part of these unaudited condensed financial statements*

---

| |
|:---|
| 4 |
| *[**Table of Contents**](#TOC)* |

---

**GREENLIT VENTURES INC.**

**Condensed Statements of Stockholders' Deficit**

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

**(Unaudited)**

**Nine Months Ended September 30, 2025**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Additional** <br>**Paid-in** <br>**Capital** | <br>**Accumulated**<br>**Deficit** | **Total** <br>**Stockholders'** <br>**Deficit** |
| **Balance - December 31, 2024** | **4082479** | $**408** | $**533807** | $**(723160)** | $**(188945)** |
| Net loss | - | - | - | (20703) | (20703) |
| **Balance - March 31, 2025** | **4082479** | $**408** | $**533807** | $**(743863)** | $**(209648)** |
| Net loss | **-** | **-** | **-** | (8925) | (8925) |
| **Balance - June 30, 2025** | **4082479** | $**408** | $**533807** | $**(752788)** | $**(218573)** |
| Net loss | **-** | **-** | **-** | (9371) | (9371) |
| **Balance - September 30, 2025** | **4082479** | $**408** | $**533807** | $**(762159)** | $**(227944)** |

---

**Nine Months Ended September 30, 2024**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Common Stock** | **Common Stock** | | | |
|  | **Shares** | **Amount** | **Additional** <br>**Paid-in** <br>**Capital** | <br>**Accumulated**<br>**Deficit** | **Total** <br>**Stockholders'** <br>**Deficit** |
| **\*Balance - December 31, 2023** | **229579** | $**23** | $**341547** | $**(495673)** | $**(154103)** |
| Stock-based compensation - related party | 3500000 | 350 | 174650 |  | 175000 |
| Issuance of common stock for note conversion | 352900 | 35 | 17610 |  | 17645 |
| Net loss | - | - | - | (193653) | (193653) |
| **Balance - March 31, 2024** | **4082479** | $**408** | $**533807** | $**(689326)** | $**(155111)** |
| Net loss | - | - | - | (18111) | (18111) |
| **Balance - June 30, 2024** | **4082479** | $**408** | $**533807** | $**(707437)** | $**(173222)** |
| Net loss | - | - | - | (7128) | (7128) |
| **Balance - September 30, 2024** | **4082479** | $**408** | $**533807** | $**(714565)** | $**(180350)** |

---

\* retrospectively restated reverse stock split 1:30

*The accompanying notes are an integral part of these unaudited condensed financial statements*

---

| |
|:---|
| 5 |
| *[**Table of Contents**](#TOC)* |

---

**GREENLIT VENTURES INC.**

**Condensed Statements of Cash Flows**

**(Unaudited)**

---

| | | |
|:---|:---|:---|
|  | **Nine Months Ended**  | **Nine Months Ended**  |
|  | **September 30,**  | **September 30,**  |
|  | **2025** | **2024** |
| **CASH FLOWS FROM OPERATING ACTIVITIES** |  |  |
| Net loss | $(38999) | $(218892) |
| Adjustments to reconcile net loss to net cash from operating activities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Stock-based compensation - related party |  | 175000 |
| Changes in operating liabilities: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Accounts payable and accrued liabilities | 28450 | 35069 |
| &nbsp;&nbsp;&nbsp;&nbsp;Accrued interest | 10549 | 8823 |
| Net cash used in operating activities |  |  |
| Net change in cash and cash equivalents |  |  |
| Cash and cash equivalents - beginning of period | - | - |
| Cash and cash equivalents - end of period | $- | $- |
| Supplemental Cash Flow Disclosures |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for interest | $- | $- |
| &nbsp;&nbsp;&nbsp;&nbsp;Cash paid for income taxes | $- | $- |
| Supplemental Disclosures of Non-Cash Investing and Financing Activities |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Operating expenses paid by unaffiliated parties | $27681 | $34819 |
| &nbsp;&nbsp;&nbsp;&nbsp;Conversion of convertible notes for common stock | $- | $17645 |

---

*The accompanying notes are an integral part of these unaudited condensed financial statements*

---

| |
|:---|
| 6 |
| *[**Table of Contents**](#TOC)* |

---

**GREENLIT VENTURES INC.**

**Notes to the Condensed Financial Statements**

**September 30, 2025**

**NOTE 1 – NATURE OF OPERATIONS AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES**

**NATURE OF OPERATIONS**

Greenlit Ventures Inc. (formerly "Ms Young Adventure Enterprise, Inc.", "AllyMe Holding Inc," and formerly "Rain Sound Acquisition Corporation") (the "Company" or "Greenlit") was incorporated on December 7, 2016 under the laws of the state of Delaware. The Company engages in consulting services.

On November 13, 2017, the Company changed the Company's name to AllyMe Holding Inc.

On August 6, 2019, the Company changed the Company's name to Ms Young Adventure Enterprise, Inc.

The Company was a marketing and management consulting company that provides advisory services to companies located in Asia for the purpose of facilitating the competitiveness of those companies in the international market. The Company offers a wide assortment of advisory services, ranging from business planning consulting services, mergers and acquisitions advising, and marketing services. As of the date of this report, the Company has signed few clients.

On March 10, 2021, new management acquired control and has begun to implement a new business model.

On November 2, 2021, Greenlit reported that it has entered the encryption industry with the beta launch of Forceshield Mail, a fully-featured secure e-mail service. ForceShield Mail (www.forceshieldmail.com) employs modern end-to-end encryption methods to ensure the privacy of users' electronic communications, with an emphasis on accessibility and ease of use. The Company hopes to fill the growing demand for services that address the increasing need for Digital Privacy by developing and providing a suite of robust, easy-to-use solutions that will safeguard consumers' private information.

On November 22, 2021, Greenlit also announced the beta launch of ForceShield VPN, a state-of-the-art encrypted VPN service that seeks to achieve synergy with the Company's prior product, ForceShield Mail, to provide users with robust protection against privacy intrusions and other cyber-related crimes.

Effective February 1, 2024, the Company's name changed to Greenlit Ventures Inc. and the Company trading symbol changed to "GLVT".

**BASIS OF PRESENTATION**

The accompanying unaudited interim financial statements have been prepared in accordance with generally accepted accounting principles for interim financial information and in accordance with the instructions to Form 10-Q and Article 8 of Regulation S-X. In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation have been included. Operating results for the nine months ended September 30, 2025 are not necessarily indicative of the results that may be expected for the year ending December 31, 2025. Notes to the unaudited interim financial statements that would substantially duplicate the disclosures contained in the audited financial statements for fiscal year 2024 have been omitted. This report should be read in conjunction with the audited financial statements and the footnotes thereto for the fiscal year ended December 31, 2024 included in the Company's Form 10-K as filed with the Securities and Exchange Commission on March 27, 2025.

**USE OF ESTIMATES**

The preparation of financial statements in conformity with generally accepted accounting principles 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 the financial statements and the reported amount of revenues and expenses during the reporting period. Actual results could differ from those estimates.

---

| |
|:---|
| 7 |
| *[**Table of Contents**](#TOC)* |

---

**FAIR VALUE OF FINANCIAL INSTRUMENTS**

ASC 820, "Fair Value Measurements and Disclosures", defines fair value, establishes a three-level valuation hierarchy for disclosures of fair value measurement and enhances disclosure requirements for fair value measures. The three levels are defined as follows:

Level 1 – inputs to the valuation methodology are quoted prices (unadjusted) for identical assets or liabilities in active markets.

Level 2 – inputs to the valuation methodology include quoted prices for similar assets and liabilities in active markets, and inputs that are observable for the assets or liability, either directly or indirectly, for substantially the full term of the financial instruments.

Level 3 – inputs to the valuation methodology are unobservable and significant to the fair value.

The carrying amounts of financial instruments such as accounts payable and promissory note payable approximate their fair values because of the short maturity of these instruments.

**CONVERTIBLE FINANCIAL INSTRUMENTS**

The Company bifurcates conversion options from their host instruments and accounts for them as free-standing derivative financial instruments if certain criteria are met. The criteria include circumstances in which (a) the economic characteristics and risks of the embedded derivative instrument are not clearly and closely related to the economic characteristics and risks of the host contract, (b) the hybrid instrument that embodies both the embedded derivative instrument and the host contract is not remeasured at fair value under otherwise applicable US GAAP with changes in fair value reported in earnings as they occur, and (c) a separate instrument with the same terms as the embedded derivative instrument would be considered a derivative instrument. An exception to this rule is when the host instrument is deemed to be conventional, as that term is described under applicable US GAAP.

When the Company has historically determined that the embedded conversion options should not be bifurcated from their host instruments, discounts have been recorded for the intrinsic value of conversion options embedded in the instruments based upon the differences between the fair value of the underlying common stock at the commitment date of the transaction and the effective conversion price embedded in the instrument. On July 3, 2023, the Company chose to adopt ASU 2020-06 and did not record a beneficial conversion feature ("BCF") discount on the issuance of convertible notes with the conversion rate below the Company's market stock price on the date of note issuance.

**SHARE-BASED COMPENSATION**

The Company accounts for share-based compensation under the fair value method in accordance with ASC 718, "Compensation - Stock Compensation," which requires all such compensation to employees and non-employees to be calculated based on its fair value of the equity instrument at the grant date and recognized in the earnings over the requisite service or vesting period.

During the nine months ended September 30, 2025 and 2024, the Company recorded $0 and $175,000 stock-based compensation expense, respectively. The stock-based compensation incurred from common stock awarded to consultants and executives was reported under professional fees and professional fees - related parties in the statements of operation.

---

| |
|:---|
| 8 |
| *[**Table of Contents**](#TOC)* |

---

**NET INCOME (LOSS) PER SHARE**

Basic net income (loss) per share is computed by dividing net income (loss) available to common shareholders by the weighted-average number of common shares outstanding during the period. Diluted net income per share is computed similar to basic net income (loss) per share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. If applicable, diluted net income per share assumes the conversion, exercise or issuance of all common stock instruments, such as convertible notes, unless the effect is to reduce a loss or increase earnings per share. For the nine months ended September 30, 2025 and 2024, convertible notes were potentially dilutive instruments and were not included in the calculation of diluted loss per share as their effect would be antidilutive.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **September 30,** | **September 30,** | **September** <br>**30,** | **September** <br>**30,** |
|  | **2025** | **2025** | **2024** | **2024** |
|  | **(Shares)** | **(Shares)** | **(Shares)** | **(Shares)** |
| Convertible Notes |  | 3820020 |  | 3152920 |

---

**RECENT ACCOUNTING PRONOUNCEMENTS**

We have evaluated all recently issued, but not yet effective, accounting pronouncements and do not believe that these accounting pronouncements will have any material impact on our financial statements or disclosures upon adoption.

**RECENT ADOPTED ACCOUNTING STANDARDS**

In August 2020, the FASB issued ASU 2020-06, ASC Subtopic 470-20 "Debt-Debt with Conversion and Other Options" and ASC subtopic 815-40 "Hedging-Contracts in Entity's Own Equity." The standard reduced the number of accounting models for convertible debt instruments and convertible preferred stock. Convertible instruments that continue to be subject to separation models are (1) those with embedded conversion features that are not clearly and closely related to the host contract, that meet the definition of a derivative, and that do not qualify for a scope exception from derivative accounting; and (2) convertible debt instruments issued with substantial premiums for which the premiums are recorded as paid-in capital. ASU 2020-06 removes from U.S. GAAP the separation models for (1) convertible debt with a CCF and (2) convertible instruments with a beneficial conversion feature ("BCF"). With the adoption of ASU 2020-06, entities will not separately present in equity an embedded conversion feature these debts. The amendments in this update are effective for fiscal years beginning after December 15, 2023, including interim periods within those fiscal years. Early adoption is permitted. The adoption of ASU 2023-09 has not had a material effect on the Company's statements and disclosures.

In November 2023, the FASB issued ASU 2023-07, *Segment Reporting* (Topic 280). The amendments in this update expand segment disclosure requirements, including new segment disclosure requirements for entities with a single reportable segment among other disclosure requirements. This update is effective for fiscal years beginning after December 15, 2023, and interim periods within fiscal years beginning after December 15, 2024.The adoption of ASU 2023-07 has not had a material effect on the Company's statements and disclosures.

In December 2023, the FASB issued ASU No. 2023-09, Income Taxes (Topic 740) - Improvements to Income Tax Disclosures ("ASU 2023-09"), which is intended to enhance the transparency and decision usefulness of income tax disclosures. The amendments in ASU 2023-09 provide for enhanced income tax information primarily through changes to the rate reconciliation and income taxes paid information. ASU 2023-09 is effective for the Company prospectively to all annual periods beginning after December 15, 2024. Early adoption is permitted. The adoption of ASU 2023-09 has not had a material effect on the Company's statements and disclosures.

---

| |
|:---|
| 9 |
| *[**Table of Contents**](#TOC)* |

---

**NOTE 2 – GOING CONCERN**

The Company has generated minimal revenue since inception to date and accumulated deficit of $762,159 through the nine months ended September 30, 2025. These factors among others raise substantial doubt about our ability to continue as a going concern. The Company's continuation as a going concern is dependent on its ability to generate sufficient cash flows from operations to meet its obligations and/or obtaining additional financing from its members or other sources, as may be required. These financial statements do not include any adjustments to the recoverability and classification of recorded asset amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern.

Management believes that the current actions to obtain additional funding and implement its strategic plans provide the opportunity for the Company to continue as a going concern. There are no assurances that additional funds will be available when needed from any source or, if available, will be available on terms that are acceptable to us.

 **NOTE 3 – CONVERTIBLE NOTE PAYABLE**

---

| | | | |
|:---|:---|:---|:---|
|  | <br>**Expiry Date** | **September 30,**<br>**2025** | **December 31,**<br>**2024** |
| Convertible Note - July 2023 | 12/31/2027 | $101881 | $101881 |
| Convertible Note - September 2023 | 12/31/2027 | 9619 | 9619 |
| Convertible Note - December 2023 | 12/31/2027 | 11327 | 11327 |
| Convertible Note - March 31, 2024 | 12/31/2027 | 16040 | 16040 |
| Convertible Note - June 30, 2024 | 12/31/2027 | 15303 | 15303 |
| Convertible Note - September 30, 2024 | 12/31/2027 | 3476 | 3476 |
| Convertible Note - December 31, 2024 | 12/31/2027 | 5674 | 5674 |
| Convertible Note - March 31, 2025 | 12/31/2027 | 9426 |  |
| Convertible Note - June 30, 2025 | 12/31/2027 | 12557 |  |
| Convertible Note - September 30, 2025 | 12/31/2027 | 5698 | - |
|  |  | 191001 | 163320 |
| Less: Non-current portion |  | (191001) | (163320) |
| Current portion |  | $- | $- |

---

On July 9, 2023, the Company replaced the promissory notes held by a non-affiliate with convertible notes at aggregate principal amount of $119,526. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On September 30, 2023, the Company issued a convertible note of $9,619 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On December 31, 2023, the Company issued a convertible note of $11,327 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On June 30, 2024, the Company issued a convertible note of $16,040 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On June 30, 2024, the Company issued a convertible note of $15,303 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On September 30, 2024, the Company issued a convertible note of $3,476 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On December 31, 2024, the Company issued a convertible note of $5,674 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

---

| |
|:---|
| 10 |
| *[**Table of Contents**](#TOC)* |

---

On March 31, 2025, the Company issued a convertible note of $9,426 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On June 30, 2025, the Company issued a convertible note of $12,557 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

On September 30, 2025, the Company issued a convertible note of $5,698 to an unaffiliated party for payment of operating expenses on behalf of the Company. The convertible notes bear interest at 8% per annum, have a maturity date of December 31, 2027 and are convertible at $0.05 per share for the Company common stock.

During the nine months ended September 30, 2024, convertible note principal amount of $17,645 was converted into 352,900 shares of common stock.

During the nine months ended September 30, 2025 and 2024, the interest expense was $10,548 and $8,823, respectively.

As of September 30, 2025 and December 31, 2024, the convertible notes payable was $191,001 and $163,320 and accrued interest payable was $30,381 and $19,832, respectively.

**NOTE 4 – EQUITY**

The Company is authorized to issue 100,000,000 shares of common stock with par value of $0.0001 and 20,000,000 shares of preferred stock with par value of $0.0001.

Effective February 1, 2024, FINRA has approved a reverse stock split of our issued and outstanding shares of common stock on a basis of up to thirty (30) old shares for one (1) new share of common stock.

During the nine months ended September 30, 2024, convertible note principal amount of $17,645 was converted into 352,900 shares of common stock.

During the nine months ended September 30, 2024, 3,500,000 shares of common stock was issued to the Director of the Company for services from March 10, 2024 through March 10, 2024 valued at $175,000.

As of September 30, 2025 and December 31, 2024, there were no preferred stock issued and outstanding.

As of September 30, 2025 and December 31, 2024, there were 4,082,479 shares of common stock issued and outstanding.

---

| |
|:---|
| 11 |
| *[**Table of Contents**](#TOC)* |

---

**NOTE 5 – SEGMENT REPORTING**

Operating segments comprised of the components of an entity in which separate information is available for evaluation by the Company's chief operating decision maker, or group of decision makers, in determining how to allocate resources in evaluating performance. The Company consists of a single reporting segment: encryption industry. The Company's chief operating decision maker ("CODM") is its Chief Executive Officer.

Through September 30, 2025, the Company is still in development stage. Upon the start of its operation, the CODM will evaluate the performance of the encryption industry segment based on the Company's net income (loss) as reported in the Statements of Operations. The Company's segment assets are reported on the Balance Sheets.

The CODM will review performance based on gross profit, operating profit, net earnings and net earnings excluding the impact of the fair value adjustment, a non-GAAP financial measure. Operating profit is reviewed to monitor the operating and administrative expenses of the Company. Profitability is important to the Company's ability to grow and expand operations and strategic initiatives. The Company does not have any operations or sources of revenue outside of the United States.

**NOTE 6 – SUBSEQUENT EVENTS**

In accordance with ASC 855, "Subsequent Events," the Company has analyzed its operations subsequent to September 30, 2025 to the date these financial statements were issued and has determined that it does not have any material subsequent events to disclose in these financial statements.

---

| |
|:---|
| 12 |
| *[**Table of Contents**](#TOC)* |

---

**Item 2. Management's Discussion and Analysis of Financial Condition or Plan of Operation**

**FORWARD-LOOKING STATEMENTS**

***This quarterly report contains forward-looking statements relating to future events or our future financial performance. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "intends", "expects", "plans", "anticipates", "believes", "estimates", "predicts", "potential", or "continue" or the negative of these terms or other comparable terminology. These statements are only predictions and involve known and unknown risks, uncertainties and other factors which may cause our or our industry's actual results, levels of activity or performance to be materially different from any future results, levels of activity or performance expressed or implied by these forward-looking statements.***

***Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity or performance. You should not place undue reliance on these statements, which speak only as of the date that they were made. These cautionary statements should be considered with any written or oral forward-looking statements that we may issue in the future. Except as required by applicable law, including the securities laws of the United States, we do not intend to update any of the forward-looking statements to conform these statements to actual results, later events or circumstances or to reflect the occurrence of unanticipated events.***

In this report unless otherwise specified, all dollar amounts are expressed in United States dollars and all references to "common shares" refer to the common shares of our capital stock.

The management's discussion and analysis of our financial condition and results of operations are based upon our financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP").

As used in this quarterly report, the terms "we", "us", "our", and "our company" means Greenlit Ventures Inc., unless otherwise indicated.

**General Overview**

Greenlit Ventures Inc. (formerly "Ms Young Adventure Enterprise, Inc.", "AllyMe Holding Inc," and formerly "Rain Sound Acquisition Corporation") (the "Company" or "Greenlit") was incorporated on December 7, 2016 under the laws of the state of Delaware. The Company engages in consulting services.

In November 2017, the Company implemented a change of control by issuing shares to new stockholders, redeeming shares of existing stockholders, electing a new officer and director, Zilin Wang, and accepting the resignations of its then existing officers and directors. In connection with this change in control, the stockholders of the Company and its board of directors unanimously approved the change of the Company's name from Rain Sound Acquisition Corporation to Allyme Holding Inc on August 6, 2019, the Company changed the Company's name to Ms Young Adventure Enterprise, Inc.

In May 2018, the Company implemented another change in control by electing a new officer and director and accepting the resignations of its then existing officer and director and whereby the then majority shareholder of the Company, Zilin Wang, sold his common stock shares in the Company to Chunxia Jiang, who is now the sole officer and director and majority shareholder of the Company.

On March 10, 2021, Chunxia Jiang sold his 6,010,000 common shares to Pearl Digital International, Limited and resigned from all positions as an officer and director. Mr. Fu Yong Nan was appointed as Chief Executive Officer, Chief Financial Officer, Secretary and sole Director.

On November 2, 2021, Greenlit reported that it has entered the encryption industry with the beta launch of Forceshield Mail, a fully-featured secure e-mail service. ForceShield Mail (www.forceshieldmail.com) employs modern end-to-end encryption methods to ensure the privacy of users' electronic communications, with an emphasis on accessibility and ease of use. The Company hopes to fill the growing demand for services that address the increasing need for Digital Privacy by developing and providing a suite of robust, easy-to-use solutions that will safeguard consumers' private information.

---

| |
|:---|
| 13 |
| *[**Table of Contents**](#TOC)* |

---

On November 22, 2021, Greenlit also announced the beta launch of ForceShield VPN, a state-of-the-art encrypted VPN service that seeks to achieve synergy with the Company's prior product, ForceShield Mail, to provide users with robust protection against privacy intrusions and other cyber-related crimes.

Effective February 1, 2024, the Company's name changed to Greenlit Ventures Inc. and the Company trading symbol changed to "GLVT".

**Business**

The Company was a marketing and management consulting company that provides advisory services to companies located in Asia for the purpose of facilitating the competitiveness of those companies in the international market. The Company offers a wide assortment of advisory services, ranging from business planning consulting services, mergers and acquisitions advising, and marketing services. The new management is developing a new direction and business model.

We do not have any subsidiaries.

We have never declared bankruptcy, been in receivership, or involved in any kind of legal proceeding.

**Results of Operations**

The following summary of our operations should be read in conjunction with our unaudited condensed financial statements for the three months ended and nine months ended September 30, 2025 and 2024.

*Three months ended September 30, 2025 compared to three months ended September 30, 2024*

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Three Months Ended** | **Three Months Ended** |  |  |
|  | **September 30,** | **September 30,** | **Changes** | **Changes** |
|  | **2025** | **2024** | **Amount** | **%** |
| Operating Expenses | $(5583) | $(3976) | $(1607) | 40% |
| Other Expense | (3788) | (3152) | (636) | 20% |
| Net Loss  | $(9371) | $(7128) | $(2243) | 31% |

---

The Company incurred net loss of $9,371 during the three months ended September 30, 2025 as compared to net loss of $7,128 during the three months ended September 30, 2024. The increase in net loss was mainly due to an increase in audit fees and interest expense.

*Nine months ended September 30, 2025 compared to nine months ended September 30, 2024*

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
|  | **Nine Months Ended** | **Nine Months Ended** |  |  |  |
|  | **September 30,** | **September 30,** | **Changes** | **Changes** | **Changes** |
|  | **2025** | **2024** | **Amount** | **%** | **%** |
| Operating Expenses | $(28451) | $(210069) | $181618 | (86 | (86%) |
| Other Expense | (10548) | (8823) | (1725) |  | 20% |
| Net Loss | $(38999) | $(218892) | $179893 | (82 | (82%) |

---

The Company incurred net loss of $38,999 during the nine months ended September 30, 2025 as compared to net loss of $218,892 during the nine months ended September 30, 2024. The decrease in net loss was mainly due to a decrease in professional fees including stock-based compensation, audit fees and transfer agent fees. During the nine months ended September 30, 2024, the Company incurred stock based compensation of $175,000 from issuance of 3,500,000 shares of common stock to the Director of the Company for services from March 10, 2024 through March 10, 2024.

---

| |
|:---|
| 14 |
| *[**Table of Contents**](#TOC)* |

---

***Liquidity and Capital Resources***

<u>Working Capital</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **As of**<br>**September 30,** | **As of**<br>**December 31,** | **Changes** | **Changes** |
|  | **2025** | **2024** | **Amount** | **%** |
| Current Assets | $- | $- | $- |  |
| Current Liabilities | $36943 | $25625 | $11318 | 44% |
| Working Capital Deficiency | $(36943) | $(25625) | $(11318) | 44% |

---

As at September 30, 2025 and December 31, 2024, our Company had no cash and assets.

Our current liabilities increased from $25,625 as of December 31, 2024 to $36,943 as of September 30, 2025 mainly due to the increase in accounts payable and accrued liabilities and accrued interest.

As at September 30, 2025, our Company had a working capital deficiency of $36,943 compared with a working capital deficiency of $25,625 as at December 31, 2024. The increase in working capital deficit was due to the increase in accounts payable and accrued liabilities and accrued interest.

<u>Cash Flows</u>

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **Nine Months Ended** | **Nine Months Ended** |  |  |
|  | **September 30,** | **September 30,** | **Changes** | **Changes** |
|  | **2025** | **2024** | **Amount** | **%** |
| Cash flows used in operating activities | $- | $- | $- |  |
| Cash flows used in investing activities |  |  |  |  |
| Cash flows provided by financing activities | - | - | - |  |
| Net changes in cash  | $- | $- | $- |  |

---

*Cash Flow from Operating Activities*

We have not generated positive cash flow from operating activities. During the nine months ended September 30, 2025 and 2024, net cash used in operating activities was $0.

Cash flows used in operating activities during the nine months ended September 30, 2025, comprised of a net loss of $38,999, reduced by net changes in operating liabilities of $38,999.

---

| |
|:---|
| 15 |
| *[**Table of Contents**](#TOC)* |

---

Cash flows used in operating activities during the nine months ended September 30, 2024, comprised of a net loss of $218,892, reduced by stock-based compensation of $175,000 and net changes in operating liabilities of $43,892.

*Cash Flow from Investing Activities*

The Company do not have any investing activities during the nine months ended September 30, 2025 and 2024.

*Cash Flow from Financing Activities*

The Company do not have any financing activities during the nine months ended September 30, 2025 and 2024.

**Off-Balance Sheet Arrangements**

We have no off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that are material to stockholders.

---

| |
|:---|
| 16 |
| *[**Table of Contents**](#TOC)* |

---

**Item 3. Quantitative and Qualitative Disclosures About Market Risk**

As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 4. Controls and Procedures**

*Disclosure Controls and Procedures*

Our management, with the participation of our Chief Executive Officer (our principal executive officer, principal financial officer and principal accounting officer), has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a- 15(e) and 15d- 15(e) under the Securities Exchange Act of 1934, as amended (Exchange Act)), as of the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, our Chief Executive Officer has concluded that as of such date, our disclosure controls and procedures were not effective such that the information relating to us required to be disclosed in our Securities and Exchange Commission ("SEC") reports (i) is recorded, processed, summarized and reported within the time periods specified in SEC rules and forms, and (ii) is accumulated and communicated to our management, including our chief executive officer and chief financial officer, as appropriate to allow timely decisions regarding required disclosure.

C*hanges in Internal Control Over Financial Reporting*

During the period covered by this report there were no changes in our internal control over financial reporting that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

---

| |
|:---|
| 17 |
| *[**Table of Contents**](#TOC)* |

---

**PART II - OTHER INFORMATION**

**Item 1. Legal Proceedings**

We know of no material, existing or pending legal proceedings against us, nor are we involved as a plaintiff in any material proceeding or pending litigation. 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 company.

**Item 1A. Risk Factors**

As a "smaller reporting company", we are not required to provide the information required by this Item.

**Item 2. Unregistered Sales of Equity Securities and Use of Proceeds**

None.

**Item 3. Defaults Upon Senior Securities**

None.

**Item 4. Mine Safety Disclosures**

Not Applicable.

**Item 5. Other Information**

None.

---

| |
|:---|
| 18 |
| *[**Table of Contents**](#TOC)* |

---

**Item 6. Exhibits**

The following exhibits are included as part of this report:

---

| | |
|:---|:---|
| **Exhibit**<br>**Number** | **Description** |
| **31** | **Rule 13a-14(a)/15d-14(a) Certification** |
| [31.1](msyn_ex311.htm) | [Section 302 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer](msyn_ex311.htm) |
| **32** | **Section 1350 Certification** |
| [32.1\*](msyn_ex321.htm) | [Section 906 Certification under the Sarbanes-Oxley Act of 2002 of the Principal Executive Officer](msyn_ex321.htm) |
| **101** | **Interactive Data Files** |
| 101.INS\*\* | XBRL Instance Document |
| 101.SCH\*\* | XBRL Taxonomy Extension Schema Document |
| 101.CAL\*\* | XBRL Taxonomy Extension Calculation Linkbase Document |
| 101.DEF\*\* | XBRL Taxonomy Extension Definition Linkbase Document |
| 101.LAB\*\* | XBRL Taxonomy Extension Label Linkbase Document |
| 101.PRE\*\* | XBRL Taxonomy Extension Presentation Linkbase Document |

---

_________

\* Filed herewith. In addition, in accordance with SEC Release 33-8238, Exhibits 32.1 and 32.2 are being furnished and not filed.

\*\* XBRL Information is furnished and not filed or a part of a registration statement or prospectus for purposes of sections 11 or 12 of the Securities Act of 1933, as amended, is deemed not filed for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and otherwise is not subject to liability under these sections.

---

| |
|:---|
| 19 |
| *[**Table of Contents**](#TOC)* |

---

**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.

---

| | |
|:---|:---|
|  | **Greenlit Ventures Inc.** |
|  | (Registrant) |
| Dated: October 03, 2025 | */s/ Fu Yong Nan* |
|  | **Fu Yong Nan** |
|  | Director, CEO, CFO, and Secretary |

---

## Exhibit 31.1

**EXHIBIT 31.1**

**CERTIFICATION PURSUANT TO SECTION 302 OF THE SARBANES-OXLEY ACT OF 2002**

I, Fu Yong Nan, certify that:

1. I have reviewed this quarterly report on Form 10-Q of Greenlit Ventures Inc.;

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;

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;

4. I am 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:

(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;

(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;

(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

(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;

5. I have disclosed, based on my 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):

(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

(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: October 03, 2025

---

| |
|:---|
| */s/ Fu Yong Nan* |
| Fu Yong Nan |
| Director, CEO, CFO, and Secretary  |

---

## 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**

The undersigned, Fu Yong Nan, President, of Greenlit Ventures Inc., hereby certifies, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

(1) the quarterly report on Form 10-Q of Greenlit Ventures Inc. for the period ended September 30, 2025 (the "Report") fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of Greenlit Ventures Inc.

Date: October 03, 2025

---

| |
|:---|
| */s/ Fu Yong Nan* |
| Fu Yong Nan |
| Director, CEO, CFO, and Secretary  |

---