Shin Hang Muk 4
4 · Global Interactive Technologies, Inc. · Filed Apr 24, 2026
Research Summary
AI-generated summary of this filing
Global Interactive (GITS) 10% Owner Shin Hang Muk Acquires Shares
What Happened
Shin Hang Muk, a reported 10% owner of Global Interactive Technologies, Inc. (GITS), acquired common stock and derivative securities on October 29, 2025 by converting outstanding debt. He received 90,123 shares at an effective price of $1.17 per share (total value $105,444) and was also issued 81,739 derivative securities reported at $0 (these are warrants issued in connection with the debt conversion and are immediately exercisable). The shares and warrants were issued pursuant to a Debt Conversion Agreement dated May 7, 2025 and approved by the company’s board on June 3, 2025.
Key Details
- Transaction date: October 29, 2025 (reported on Form 4 filed April 24, 2026). The filing appears late relative to the transaction date.
- Consideration: 90,123 shares at $1.17/share = $105,444; 81,739 derivative securities reported at $0 (warrants).
- Source/authority: Issued under a Debt Conversion Agreement (May 7, 2025) approved by the Board (June 3, 2025).
- Derivative detail: Warrants issued in connection with the conversion are immediately exercisable (footnote F2).
- Ownership disclosures: Mr. Shin’s reported beneficial ownership includes shares held by his spouse and children (F3) and shares held by Sewang Co., Ltd., an entity he controls (F4); he disclaims ownership except to the extent of his pecuniary interest.
- Reverse split: All share figures reflect the 1-for-20 reverse split effective January 27, 2025 (F5).
- Shares owned after transaction: Not specified in the provided filing summary.
Context
This was an issuance resulting from converting debt into equity (a capital-raising/settlement action), not an open-market purchase or sale. For retail investors, conversions that increase insider-held shares can be meaningful, but they often reflect debt restructuring rather than a direct bullish purchase. The warrants are immediately exercisable, which could lead to additional share issuance if exercised. The late filing reduces near-term transparency; investors tracking insider activity should note the delay.
Insider Transaction Report
- Conversion
Common Stock, par value $0.001
[F1][F3][F5]2025-10-29$1.17/sh+90,123$105,444→ 285,000 total - Conversion
Warrant to Purchase Common Stock
[F2][F5]2025-10-29+81,739→ 81,739 totalExercise: $1.29From: 2025-10-29Exp: 2030-05-07→ Common Stock (81,739 underlying)
- 151,915(indirect: See Footnote)
Common Stock, par value $0.001
[F4][F5]
Footnotes (5)
- [F1]Represents shares of common stock issued to Mr. Shin upon conversion of approximately $105,444 of outstanding indebtedness pursuant to a Debt Conversion Agreement dated as of May 7, 2025, approved by the Issuer's Board of Directors on June 3, 2025, and issued to Mr. Shin on October 29, 2025.
- [F2]Warrants to purchase shares of the Issuer's common stock issued in connection with the conversion of approximately $105,444 of outstanding indebtedness pursuant to a Debt Conversion Agreement dated as of May 7, 2025, approved by the Issuer's Board of Directors on June 3, 2025, and issued to Mr. Shin on October 29, 2025. The warrants are immediately exercisable.
- [F3]Represents shares of common stock beneficially owned by Hang Muk Shin, including shares held by his spouse (Taehee Kim) and children (Yi Jun Shin and Yi Hyeon Shin), over which Mr. Shin exercises voting and dispositive power. Mr. Shin disclaims beneficial ownership of the securities reported herein except to the extent of his pecuniary interest therein.
- [F4]Represents shares of common stock held by Sewang Co., Ltd., an entity controlled by Hang Muk Shin. Hang Muk Shin may be deemed to have indirect beneficial ownership of these shares by virtue of his control of Sewang Co., Ltd. Each reporting person disclaims beneficial ownership of the securities reported herein except to the extent of their respective pecuniary interest therein.
- [F5]All shares reflect a 1-for-20 reverse stock split of the Issuer's shares of common stock, effective January 27, 2025.