Greenwave Technology Solutions

2 serious warning signs in Greenwave Technology Solutions’ filings.

We look for five warning signs: doubt it can keep going, weak checks on its own accounts, a notice that its past accounts can't be relied on, a change of auditor, and one customer bringing in a big share of sales. We don't check lawsuits, investigations or debt yet.

We checked the auditor's report, internal controls, restatement notices, auditor changes and big customers in the 10-K filed 15 Jun 2026, plus the 10-Q filed 18 Aug 2026 and 3 later 8-Ks.

• Doubt it can keep going

  Serious

  The company or its auditor warned it may not have enough money to last the next year.

  “These conditions raise substantial doubt about the Company’s ability to continue as a going concern for one year from the issuance of the unaudited condensed consolidated financial statements.”

  Show the full paragraph

  As of June 30, 2026, the Company had cash of $654,987 and a working capital deficit (current liabilities in excess of current assets) of $23,052,504. The accumulated deficit as of June 30, 2026 was $525,656,136. For the six months ended June 30, 2026, the Company had a loss from operations of $3,919,774. These conditions raise substantial doubt about the Company’s ability to continue as a going concern for one year from the issuance of the unaudited condensed consolidated financial statements.

  From the 10-Q filed 18 August 2026, Part I, Item 2. Management's Discussion and Analysis. Read it in the filing

• Weak checks on its own accounts

  Serious

  The company said its checks on its own accounts did not work at year end. Mistakes could slip into the numbers.

  “Based on this assessment, management concluded that the Company did not maintain effective internal control over financial reporting as of December 31, 2025 due to material weaknesses, including the lack of segregation of duties and the need for a stronger internal control environment, as well as an insufficient process to ensure appropriate levels of review of accounting and financial reporting matters, which resulted in the closing process not identifying all required adjustments and disclosures in a timely manner.”

  From the 10-K filed 15 June 2026, Item 9A. Controls and Procedures. Read it in the filing

• One big customer

  Worth knowing

  One customer brings in a big share of sales: 25.9% last year. Losing that customer would hurt.

  “For the fiscal year ended December 31, 2025, two large customers individually accounted for $12,073,690 and $5,482,886, or approximately 25.88% and 11.75% of our revenues, respectively.”

  From the 10-K filed 15 June 2026, Item 1A. Risk Factors. Read it in the filing