10-K Filing

GAXOS.AI INC. CIK: 1895618 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001213900-24-026681`
Period End Date	20231231
Filing Date	20240327
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	ea0202356-10k_gaxosai_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 34 Cash Flow Statement 60 Stockholders Equity 13

Balance Sheet 63 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$1.02M	USD	Point-in-time
Preferred stock, authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$679.78K	USD	Point-in-time
Short-term investments, at fair value	`ShortTermInvestments`	$2.59M	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Short-term investments, at fair value	`ShortTermInvestments`	-	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	-	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$8.00	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	-	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	-	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$25.13K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseAndOtherAssetsCurrent`	$400.00	USD	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	$202.60K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Deferred offering costs	`DeferredOfferingCosts`	-	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	50.00M	shares	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	868,154.00	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$882.78K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$3.64M	USD	Point-in-time
Common stock, share issued	`CommonStockSharesIssued`	988,368.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	988,368.00	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	868,154.00	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$52.61K	USD	Point-in-time
Digital currencies	`DigitalCurrencies`	$801.00	USD	Point-in-time
Digital currencies	`DigitalCurrencies`	-	USD	Point-in-time
Intangible asset, net	`IntangibleAssetsNetExcludingGoodwill`	$58.65K	USD	Point-in-time
Intangible asset, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Total Long-Term Assets	`AssetsNoncurrent`	$58.65K	USD	Point-in-time
Total Long-Term Assets	`AssetsNoncurrent`	$53.41K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$3.70M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$941.43K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$215.88K	USD	Point-in-time
Accounts payable	`AccountsPayableCurrent`	$245.01K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$54.15K	USD	Point-in-time
Accrued expenses	`AccruedLiabilitiesCurrent`	$10.68K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$270.04K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$255.69K	USD	Point-in-time
Total Liabilities	`Liabilities`	$255.69K	USD	Point-in-time
Total Liabilities	`Liabilities`	$270.04K	USD	Point-in-time
Commitments and Contingencies (See Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (See Note 7)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock; par value $0.0001; 5,000,000 shares authorized; No shares issued and outstanding on December 31, 2023 and 2022	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; par value $0.0001; 5,000,000 shares authorized; No shares issued and outstanding on December 31, 2023 and 2022	`PreferredStockValue`	-	USD	Point-in-time
Common stock; par value $0.0001: 50,000,000 shares authorized; 988,368 and 868,154 share issued and outstanding on December 31, 2023 and 2022, respectively	`CommonStockValue`	$99.00	USD	Point-in-time
Common stock; par value $0.0001: 50,000,000 shares authorized; 988,368 and 868,154 share issued and outstanding on December 31, 2023 and 2022, respectively	`CommonStockValue`	$87.00	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.71M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$2.12M	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	$95.78K	USD	Point-in-time
Accumulated other comprehensive income	`AccumulatedOtherComprehensiveIncomeLossNetOfTax`	-	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-1.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-5.38M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$2.07M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$685.73K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$3.43M	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$941.43K	USD	Point-in-time
Total Liabilities and Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$3.70M	USD	Point-in-time

Income Statement 34 line items

Line Item	Tag	Value	Unit	Period
REVENUES	`Revenues`	$256.00	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-4.00	USD	Annual
Diluted	`EarningsPerShareDiluted`	$-1.64	USD	Annual
REVENUES	`Revenues`	-	USD	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	987,938.00	shares	Annual
Diluted	`WeightedAverageNumberOfDilutedSharesOutstanding`	868,154.00	shares	Annual
Research and development	`ResearchAndDevelopmentExpense`	$915.82K	USD	Annual
Research and development	`ResearchAndDevelopmentExpense`	$824.52K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$599.57K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$3.05M	USD	Annual
Impairment loss	`GoodwillImpairmentLoss`	$52.36K	USD	Annual
Impairment loss	`GoodwillImpairmentLoss`	-	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$4.02M	USD	Annual
Total Operating Expenses	`OperatingExpenses`	$1.42M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-1.42M	USD	Annual
LOSS FROM OPERATIONS	`OperatingIncomeLoss`	$-4.02M	USD	Annual
Interest income	`InterestAndOtherIncome`	$46.53K	USD	Annual
Interest income	`InterestAndOtherIncome`	$2.92K	USD	Annual
Realized gain on short-term investments	`GainLossOnInvestments`	-	USD	Annual
Realized gain on short-term investments	`GainLossOnInvestments`	$20.66K	USD	Annual
Total other income	`OtherNonoperatingIncomeExpense`	$67.19K	USD	Annual
Total other income	`OtherNonoperatingIncomeExpense`	$2.92K	USD	Annual
NET LOSS	`NetIncomeLoss`	$-1.42M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-3.95M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.42M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.95M	USD	Annual
Unrealized gain on short-term investments	`UnrealizedGainLossOnInvestments`	-	USD	Annual
Unrealized gain on short-term investments	`UnrealizedGainLossOnInvestments`	$95.78K	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-1.42M	USD	Annual
Comprehensive loss	`ComprehensiveIncomeNetOfTax`	$-3.85M	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.64	USD	Annual
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-4.00	USD	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	868,154.00	shares	Annual
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	987,938.00	shares	Annual

Cash Flow Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.42M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.95M	USD	Annual
Amortization expense	`AdjustmentForAmortization`	$4.19K	USD	Annual
Amortization expense	`AdjustmentForAmortization`	$10.65K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	$936.35K	USD	Annual
Stock-based compensation	`ShareBasedCompensation`	-	USD	Annual
Realized gain on short-term investments	`RealizedInvestmentGainsLosses`	-	USD	Annual
Realized gain on short-term investments	`RealizedInvestmentGainsLosses`	$20.66K	USD	Annual
Impairment loss	`GoodwillImpairmentLoss`	$52.36K	USD	Annual
Impairment loss	`GoodwillImpairmentLoss`	-	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$8.00	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$400.00	USD	Annual
Prepaid expenses and other current assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$24.73K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$148.76K	USD	Annual
Accounts payable	`IncreaseDecreaseInAccountsPayable`	$-29.93K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$8.20K	USD	Annual
Accrued expenses	`IncreaseDecreaseInAccruedLiabilities`	$43.47K	USD	Annual
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.26M	USD	Annual
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-2.98M	USD	Annual
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	-	USD	Annual
Purchase of short-term investments	`PaymentsToAcquireShortTermInvestments`	$3.49M	USD	Annual
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	-	USD	Annual
Proceeds from sale of short-term investments	`ProceedsFromSaleOfShortTermInvestments`	$1.01M	USD	Annual
Increase in capitalized internal-use software development costs	`PaymentsToDevelopSoftware`	$56.97K	USD	Annual
Increase in capitalized internal-use software development costs	`PaymentsToDevelopSoftware`	-	USD	Annual
Purchase of intangible asset	`PaymentsToAcquireIntangibleAssets`	$62.84K	USD	Annual
Purchase of intangible asset	`PaymentsToAcquireIntangibleAssets`	-	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-62.84K	USD	Annual
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-2.53M	USD	Annual
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from the sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$5.96M	USD	Annual
Proceeds from subscriptions receivable	`ProceedsFromSubscriptionsReceivable`	-	USD	Annual
Proceeds from subscriptions receivable	`ProceedsFromSubscriptionsReceivable`	$37.50K	USD	Annual
Payment of deferred offering costs	`PaymentsOfDebtIssuanceCosts`	$112.60K	USD	Annual
Payment of deferred offering costs	`PaymentsOfDebtIssuanceCosts`	-	USD	Annual
Purchase and cancellation of treasury shares	`PaymentsForRepurchaseOfCommonStock`	$99.74K	USD	Annual
Purchase and cancellation of treasury shares	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$-75.10K	USD	Annual
NET CASH PROVIDED BY (USED IN) FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$5.86M	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$344.93K	USD	Annual
NET INCREASE (DECREASE) IN CASH	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-1.40M	USD	Annual
CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.02M	USD	Point-in-time
CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$679.78K	USD	Point-in-time
CASH, beginning of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.08M	USD	Point-in-time
CASH, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$1.02M	USD	Point-in-time
CASH, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$679.78K	USD	Point-in-time
CASH, end of year	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$2.08M	USD	Point-in-time
Interest	`InterestPaidNet`	-	USD	Annual
Interest	`InterestPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Income taxes	`IncomeTaxesPaidNet`	-	USD	Annual
Reclassification of deferred offering costs to equity	`ReclassificationOfDeferredOfferingCostsToEquity`	$202.60K	USD	Annual
Reclassification of deferred offering costs to equity	`ReclassificationOfDeferredOfferingCostsToEquity`	-	USD	Annual
Unrealized gain on short-term investments	`UnrealizedGainLossOnInvestments`	-	USD	Annual
Unrealized gain on short-term investments	`UnrealizedGainLossOnInvestments`	$95.78K	USD	Annual
Increase in digital currency and accounts payable	`IncreaseInDigitalCurrencyAndAccountsPayable`	-	USD	Annual
Increase in digital currency and accounts payable	`IncreaseInDigitalCurrencyAndAccountsPayable`	$801.00	USD	Annual
Deferred offering costs in accounts payable	`DeferredOfferingCostsInAccountsPayable`	-	USD	Annual
Deferred offering costs in accounts payable	`DeferredOfferingCostsInAccountsPayable`	$90.00K	USD	Annual

Stockholders Equity 13 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$2.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$685.73K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.43M	USD	Point-in-time
Common shares issued for cash	`StockIssuedDuringPeriodValueNewIssues`	$5.76M	USD	Annual
Purchase and cancellation of treasury stock	`StockIssuedDuringPeriodValueShareBasedCompensationForfeited`	$99.74K	USD	Annual
Accretion of stock option expense	`StockIssuedDuringPeriodValueShareBasedCompensation`	$936.35K	USD	Annual
Accumulated other comprehensive gain - short-term investments	`OtherComprehensiveIncomeLossNetOfTax`	$95.78K	USD	Annual
Proceeds from subscriptions receivable	`StockIssuedDuringPeriodValueOther`	$37.50K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.42M	USD	Annual
Net loss	`NetIncomeLoss`	$-3.95M	USD	Annual
Balance	`StockholdersEquity`	$2.07M	USD	Point-in-time
Balance	`StockholdersEquity`	$685.73K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.43M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.