Global Acquisitions Corporation reported significant financial developments in its 10-Q filing for the third quarter of 2024. As of September 30, 2024, the company had current assets of $75,000, a notable increase from $38,000 at the end of the previous fiscal year. Current liabilities decreased substantially to $66,923 from $610,287, resulting in a reduced stockholders' deficit of $(66,848) compared to $(610,250) at the end of 2023.

Despite these improvements in asset and liability management, the company experienced a net loss of $(637,013) for Q3 2024, a significant increase from a net loss of $(10,776) in Q3 2023. For the nine months ended September 30, 2024, the net loss totaled $(670,135), compared to $(47,214) for the same period in 2023. This increase in losses is attributed to higher operational costs and challenges in revenue generation.

Cash used in operating activities also rose, amounting to $(89,442) for the nine months ended September 30, 2024, compared to $(32,739) in the prior year. However, the company secured proceeds from related parties totaling $89,442 in 2024, up from $34,198 in 2023, indicating a reliance on external funding sources.

In a strategic move to manage its financial obligations, Global Acquisitions issued 1,495,390 shares for the settlement of payables, valued at $593,670 on July 3, 2024. The accumulated deficit as of September 30, 2024, stood at $30,014,955, reflecting the ongoing financial challenges faced by the company.

In November 2024, Global Acquisitions raised $2,500,000 through a private placement of 2,631,543 shares at $0.95 per share, which is expected to provide additional liquidity to support its operations and strategic initiatives. The working capital deficit was reported at $66,848 as of September 30, 2024, indicating ongoing financial strain despite recent funding efforts.

Overall, while the company has made strides in reducing liabilities and securing funding, it continues to face significant losses and operational challenges.