GHST World Inc.

GHST World Inc. is a development-stage U.S. company that has shifted across several early-stage ventures, including a patented Smart Shin Guard sports device, a clean energy initiative, and smaller subsidiaries in art and IoT. The company currently generates only nominal revenue and is still trying to convert its patents, partnerships, and subsidiary concepts into commercial products and services.

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+47,8 %

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— GHST World Inc.
%
Smart Shin Guard and sports wearables40% Patented wearable sports equipment designed to collect and transmit player performance data during play.
Clean energy services35% Consulting, electricity sales structuring, and solar energy infrastructure development, primarily in Italy.
IoTT data platforms15% Early-stage Internet-of-Things and sports data platform concepts tied to the Cross-Ing joint venture.
GHST Art digital art platform10% Art-related assets and planned online platform for artists, trading, and content distribution.

The company’s near-term customers are expected to be soccer players, teams, leagues, and sports organizations that...

  • Soccer players and teamsprimary

    Buy the Smart Shin Guard for wearable performance tracking, in-game data capture, and competitive analysis.

  • Soccer leagues and governing bodiesprimary

    Do not buy the product directly but must approve use in matches, which is essential for commercialization.

  • Energy buyers and project counterpartiessecondary

    Purchase electricity or contract for energy-related services tied to the clean energy business.

  • Artists and art consumersemerging

    Potential users of GHST Art's incubator, trading platform, and content network.

  • Sports data platform partnersemerging

    Potential users of IoTT-based sports data platforms developed through the Cross-Ing joint venture.

GHST World is incorporated in the United States, but its commercial ambitions are split across the U.S...

  • •United States is the corporate base and initial commercialization market
  • •Italy is the main focus of the clean energy initiative
  • •Europe matters through patent coverage in five countries
  • •International soccer markets are important for Smart Shin Guard adoption
  • •Foreign expansion depends on approvals, partners, and financing

Management is trying to commercialize the Smart Shin Guard while simultaneously building a clean energy business that...

01
Launch and commercialize Smart Shin Guardshort-term

The patented sports wearable is the clearest path to product revenue and brand recognition.

02
Secure strategic partners and capitalshort-term

The company lacks the resources to self-fund development and commercialization at scale.

03
Build the clean energy business in Italymedium-term

This is intended to diversify revenue and create a second operating platform.

04
Preserve optionality in IoTT and GHST Artlong-term

These subsidiaries could become more central if funding and execution improve.

GHST World faces high execution risk because it is still development-stage, has limited capital, and has not yet...

critical

Insufficient financing

Both the sports and clean energy businesses require external capital to reach market.

Scope
Working capital and project funding
Materiality
high
high

Failure to commercialize the Smart Shin Guard

The company has not sold the product and development delays could prevent monetization before patents lose value.

Scope
Sports wearable commercialization
Materiality
high
high

League and regulatory approval delays

In-game use and energy projects depend on approvals from sports bodies and local/EU authorities.

Scope
FIFA, UEFA, Serie A, Ligue 1, Premier League; Italy/EU energy regulation
Materiality
high
high

Concentration in a small number of products and customers

The company relies on a narrow set of early-stage offerings and limited prospective buyers.

Scope
Revenue concentration
Materiality
high
medium

Competitive pressure from better-capitalized rivals

Competitors may have stronger brands, more experience, and lower-cost offerings.

Scope
Sports wearables, IoT, art platforms, clean energy
Materiality
medium
Revenue recognition under ASC 606
Affects when consulting and future product revenue appears in the income statement
Deferred revenue
Can shift revenue between periods and affect working capital
Stock compensation
Non-cash expense can distort comparability across periods
Impairment of patents and development assets
Potential write-downs if commercialization stalls
Going concern and liquidity assumptions
Influences disclosures, estimates, and asset recoverability

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: 28/04/2026