Company: TGNT
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001477932-25-005790
Chunk: 13

Company: Totaligent, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part I, Item 2
Chunk 13
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 which is nearing launch, and therefore did not generate revenue during the current period.

Cost of goods sold for the six months ended June 30, 2025 and 2024 were $0 and $334,610, respectively. Cost of goods sold consists primarily of costs associated with outsourcing certain campaign activities. The decrease in cost of goods sold for the six months ended June 30, 2025 when compared to the six months ended June 30, 2024 was primarily due to the corresponding decrease in revenues.

The Company’s operating expenses decreased from $353,237 for the six months ended June 30, 2024 to $182,528 for the six months ended June 30, 2025 due primarily to a decrease in personnel expenses due to employment agreements expiring on December 31, 2024.

Other income (expenses) went from $9,016 in income for the six months ended June 30, 2024 to ($37,722) in expense for the six months ended June 30, 2025. The primary reason for the difference is the Company recorded a loss on disposal of assets in the amount of ($18,327) in the current period along with a gain on the change in fair value of derivative liability in the amount of $11,512. In the prior period, the Company recorded a gain on the change in fair value of derivative liability in the amount of $38,062.

As a result of decreased sales, we had a net loss of $373,472 for the six months ended June 30, 2025 compared to a net loss of $264,292 for the six months ended June 30, 2024. The net loss for the six months ended June 30, 2025 included a deemed contribution in the amount of $153,222 the conversion of Series D Preferred Stock.

 Three months Ended June 30, 2025 compared to the three months Ended June 30, 2024

For the three months ended June 30, 2025 and 2024, the Company had total revenues of $0 and $73,610, respectively, and gross profits of $0 and $36,078, respectively. The Company’s volume of sales decreased in the three months ended June 30, 2025 when compared to the three months ended June 30, 2024 primarily due to a decrease in managed campaign activity.

Cost of goods sold for the three months ended June 30, 2025 and