Quarterly Report for Quarter Ending March 31, 2026 (Form 10-Q)

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.

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".

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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 March 31, 2026 and 2025.

Three months ended March 31, 2026 compared to three months ended March 31, 2025

		Three Months Ended
		March 31,								Changes
		2026				2025				Amount				%
Operating Expenses		$	(14,627	)		$	(17,436	)		$	2,809				(16	)%
Other Expense			(3,869	)			(3,267	)			(602	)			18	%
Net Loss		$	(18,496	)		$	(20,703	)		$	2,207			(11%)

The Company incurred net loss of $18,496 during the three months ended March 31, 2026 as compared to net loss of $20,703 during the three months ended March 31, 2025 The decrease in net loss was mainly due to a decrease in audit fees and interest expense.

Liquidity and Capital Resources

Working Capital

		As of				As of
		March 31,				December 31,				Changes
		2026				2025				Amount				%
Current Assets		$	-			$	-			$	-				-
Current Liabilities		$	58,218			$	43,998			$	14,220				32	%
Working Capital Deficiency		$	(58,218	)		$	(43,998	)		$	(14,220	)			32	%

As at March 31, 2026 and December 31, 2024, our Company had no cash and assets.

Our current liabilities increased from $43,998 as of December 31, 2025 to $58,218 as of March 31, 2026 mainly due to the increase in accounts payable and accrued liabilities and accrued interest.

As at March 31, 2026, our Company had a working capital deficiency of $58,218 compared with a working capital deficiency of $43,998 as at December 31, 2025. The increase in working capital deficit was due to the increase in accounts payable and accrued liabilities and accrued interest.

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Cash Flows

		Three Months Ended
		March 31,								Changes
		2026				2025				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 three months ended March 31, 2026 and 2025, net cash used in operating activities was $0.

Cash flows used in operating activities during the three months ended March 31, 2026, comprised of a net loss of $18,496, reduced by net changes in operating liabilities of $18,496.

Cash flows used in operating activities during the three months ended March 31, 2025, comprised of a net loss of $20,703, reduced by net changes in operating liabilities of $20,703.

Cash Flow from Investing Activities

The Company do not have any investing activities during the three months ended March 31, 2026 and 2025.

Cash Flow from Financing Activities

The Company do not have any financing activities during the three months ended March 31, 2026 and 2025.

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.