General Enterprise Ventures, Inc.

CitroTech Inc. (CITR), formerly General Enterprise Ventures, Inc., is a specialty chemical company developing environmentally sustainable fire inhibitors, primarily CitroTech, for wildfire prevention, asset protection, and wood/lumber treatment. Incorporated in 1990 and redomiciled to Wyoming in 2021, the Company acquired intellectual property from MFB California in April 2022, holding 31 granted patents and 56 pending applications. CitroTech has received EPA Safer Choice awards twice and UL GreenGuard Gold status, positioning it as the only EPA-recognized fire inhibitor adopted by California fire departments. Revenue grew from $520,645 in 2023 to $808,372 in 2024 and $1,945,232 for nine months ended September 30, 2025, driven by product sales and installation services, though net losses widened to $30.7 million in the same period due to high operating expenses and stock-based compensation. This S-1 registers 8,154,280 shares of common stock for resale by selling stockholders, including shares from 2025 private placements, warrants, and debt conversions; the Company receives no proceeds but may from warrant exercises. Theodore Ralston controls 81.1% voting power via Series A Preferred Stock, qualifying as a controlled company exempt from certain NYSE American governance rules. Investors face risks from going concern doubts, high leverage ($2.5M debt), dilution overhang, and wildfire seasonality, but growth potential exists in $13.6B global fire-retardant market by 2034 amid rising wildfire prevention demand.

Key Takeaways