Global Gas Corp
HGAS, HGASW · Industrial Inorganic Chemicals · EDGAR filings ↗
Grade
D44Pre-revenue hydrogen project developer with no customers, minimal staff, and weak liquidity.
Strengths
- Experienced founding team and a stated project-development pipeline
- Asset-light intended model selling equipment/systems
Risks
- No customers and no meaningful revenue; current/quick ratios 0.165 (9th pct) signal liquidity strain
- Operating cash margin deeply negative; reliant on raising additional funds
- Headline net-margin/ROA at 100th pct are non-operating artifacts, not earnings power
Notable findings
- No interest coverageInterest coverage -18.23 (cannot cover interest)
- Weak liquidityCurrent ratio 0.17 (<1)
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Operating margin
-503.6%
Net margin
73.7%
Return on equity
-8.2%
Return on assets
43.9%
Interest coverage
-18.2×
Current ratio
0.2×
Tangible book value
-$296K
Stock comp / revenue
379.3%
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2025-08-20 | Material agreementExec/director changeExhibits | filing ↗ |
| 2024-12-09 | Material agreementDebt obligationExhibits | filing ↗ |
| 2024-06-24 | Delisting notice | filing ↗ |
| 2024-06-21 | Exec/director change | filing ↗ |
| 2024-03-05 | Material agreementExhibits | filing ↗ |
| 2024-02-12 | Auditor changeExhibits | filing ↗ |
| 2024-02-09 | Material agreementExhibits | filing ↗ |
| 2023-12-28 | Material agreementAcquisition/dispositionDelisting notice3.023.03Auditor change5.01Exec/director change5.035.055.06Exhibits | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 10-Q | 2026-05-15 | 2026-03-31 | 0001213900-26-056883 ↗ |
| 10-K | 2026-04-15 | 2025-12-31 | 0001213900-26-044164 ↗ |
| 10-Q | 2025-11-14 | 2025-09-30 | 0001213900-25-110899 ↗ |
| 8-K | 2025-08-20 | 2025-08-19 | 0001213900-25-078639 ↗ |
| 10-Q | 2025-08-12 | 2025-06-30 | 0001213900-25-074976 ↗ |
| 10-Q/A | 2025-06-05 | 2025-03-31 | 0001213900-25-051561 ↗ |
| 10-Q | 2025-05-14 | 2025-03-31 | 0001213900-25-043274 ↗ |
| 10-K | 2025-03-31 | 2024-12-31 | 0001213900-25-026224 ↗ |
| 8-K | 2024-12-09 | 2024-12-05 | 0001213900-24-106997 ↗ |
| 10-Q | 2024-11-13 | 2024-09-30 | 0001213900-24-097142 ↗ |
| 10-Q | 2024-08-14 | 2024-06-30 | 0001213900-24-068965 ↗ |
| 8-K | 2024-06-24 | 2024-06-21 | 0001213900-24-055277 ↗ |