CitroTech Inc. 2026年度季度报告

Form10-Q (Mark One) ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended:March 31, 2026 or CitroTech Inc. (Exact name of registrant as specified in its charter) (800)401-4535(Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying 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 As of May 14, 2026, 22,357,412 shares of the Company’s common stock were issued and outstanding. TABLE OF CONTENTS PART I - FINANCIAL INFORMATION PART II - OTHER INFORMATION PART I - FINANCIAL INFORMATION CitroTech Inc.(formerly General Enterprise Ventures, Inc.)Index to Unaudited Interim Consolidated Financial Statements Consolidated Balance Sheets at March 31, 2026 and December 31, 2025Consolidated Statements of Operations and Comprehensive Lossfor the three months ended March 31, 2026 and 2025Consolidated Statements of Changes in Stockholders’ Equity for the three months ended March 31, 2026 and 2025Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025Notes to Consolidated Financial Statements CitroTech Inc.(formerly General Enterprise Ventures, Inc.)Consolidated Balance Sheets CitroTech Inc.(formerly General Enterprise Ventures, Inc.)Consolidated Statements of Operations and Comprehensive Loss CitroTech Inc.(formerly General Enterprise Ventures, Inc.)Consolidated Statements of Changes in Stockholders’ Equity CitroTech Inc.(formerly General Enterprise Ventures, Inc.)Consolidated Statement of Cash Flows CitroTech Inc.(formerly General Enterprise Ventures, Inc.)Notes to Unaudited Interim Consolidated Financial Statements Note 1 –Organization, Business and Going Concern CitroTech Inc. was originally incorporated under the laws of the State of Nevada on March 14, 1990 and on June 3, 2021 wasredomiciled to the State of Wyoming. Effective on January 22, 2026, the Company changed its name from General EnterpriseVentures, Inc. to CitroTech Inc. When used in these notes, the terms “CITR,” “Company,” “we,” “us” and “our” mean CitroTech Inc. Business We develop and manufacture environmentally sustainable, non-toxic, long-term fire-inhibiting products for use in industrial andwildfire defense applications. The Company’s proprietary formulation, CitroTech®, is derived from food-grade, renewable materialsand is designed to provide an alternative to legacy conventional chemical fire retardants. CitroTech™ is used in the manufacturing offire-resilient lumber and building materials, enabling integration of flame-inhibiting properties during production or applied in the The Company continues to evaluate and develop additional formulations and product treatments to expand the range of potentialcommercial applications for its technology. Liquidity and Going Concern The accompanying unaudited interim consolidated financial statements of the Company have been prepared assuming the Companywill continue as a going concern and in accordance with generally accepted accounting principles in the United States of America. The At March 31, 2026, the Company had cash of approximately $4.3 million, working capital of $2.8 million, and an accumulated deficitof $119.4 million. For the three months ended March 31, 2026, the Company incurred a net loss of $6.2 million and usedapproximately $2.1 million of cash in operating activities. The Company's ability to continue as a going concern depends on its abilityto scale commercial sales. Management believes that current cash is not sufficient to fund commercial-scale production and the related To alleviate these conditions, management is currently evaluating various funding alternatives and may seek to raise additional fundsthrough the issuance of equity or debt securities, through arrangements with strategic partners. As we seek additional sources offinancing, there can be no assurance that such financing would be available to us on favorable terms or at all. Our ability to obtain Note 2 –Summary of Significant Accounting Policies Basis of Presentation Our unaudited interim consolidated financial statements and accompanying notes are prepared in accordance with generally acceptedaccounting principles in the United States of America (“GAAP”) for interim financial information and with the instructions to Form10-Q and Regulation S-X. Accordingly, the unaudited interim consolidated financial statements do not include all of the informationand footnotes required by generally accepted accounting principles for complete financial statements. However, except as disclosed In the opinion of management, the accompanying u