Company: TGNT
Filing Date: 2025-04-09
Form Type: 10-K/A
Source: 0001477932-25-002538
Chunk: 55

Company: Totaligent, Inc.
Filing Date: 2025-04-09
Form: 10-K/A
Chunk 55
---
     |      |      (53,732 | ) |
| Property and equipment - net   |     | $    |       66,354 |   |     | $    |       89,544 |   |

For the years ended December 31, 2024 and 2023, the Company recorded $ and $ in depreciation expense, respectively.

During the year ended December 31, 2023, the Company sold mining equipment for $. As a result of the sale, the Company recorded a gain on sale of fixed assets in the amount of $.

4. Intangible assets

Intangible assets consisted of the following at December 31, 2024 and 2023:

|                                |     | 2024 | December 31, |     | 2023 | December 31, |
|:-------------------------------|:----|:-----|-------------:|:----|:-----|-------------:|
| Software development costs     |     | $    |      127,991 |     | $    |       39,308 |
|                                |     |      |      127,991 |     |      |       39,308 |
| Less: Accumulated amortization |     |      |            - |     |      |            - |
| Intangible assets - net        |     | $    |      127,991 |     | $    |       39,308 |

The Company has incurred costs for software development. The software reached technological feasibility on May 23, 2023. As such the Company capitalized $ in software development costs for the year ended December 31, 2023 and an additional $ in costs during the year ended December 31, 2024. The Company will begin amortizing the asset once it reaches the stage of intended-use.

| F-13 |

5. Convertible notes payable

The following table details the Company’s convertible notes payable as of December 31, 2024 and 2023, respectively:

|     | Ref No. |     |       |     | Issuance                  | Date of Note | Balance | Original Principal |     | Maturity Date |     | Rate % | Interest |     | Principal Balance as of 
 2024                    | December 31, |     | 2023 | December 31, |   |
|:----|--------:|:----|:------|:----|:--------------------------|:-------------|:--------|-------------------:|:----