Company: TGNT
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001477932-25-002496
Chunk: 285

Company: Totaligent, Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 2
Chunk 285
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 2023-07 is effective for fiscal years beginning after December 15, 2023, with interim period application required starting after December 15, 2024, and early adoption permitted. The Company does not expect any of the recently issued accounting pronouncements to have a material impact on its financial condition or results of operations for the quarter ended as of December 31, 2024 or on a going forward basis. The Company has reviewed all the recently issued, but not yet effective, accounting pronouncements and do not believe any of these pronouncements will have a material impact its consolidated financial statements.

 F-12Table of Contents

3. Property and equipment    Property and equipment as of December 31, 2024 and 2023, are summarized as follows:   December 31,  December 31,   2024  2023 Computer equipment $71,335  $69,200 Computer server  22,551   19,751 Mining equipment  54,325   54,325    148,211   143,276 Less: Accumulated depreciation  (81,857 )  (53,732 )Property and equipment - net $66,354  $89,544  For the years ended December 31, 2024 and 2023, the Company recorded $28,125 and $20,960 in depreciation expense, respectively. During the year ended December 31, 2023, the Company sold mining equipment for $20,678. As a result of the sale, the Company recorded a gain on sale of fixed assets in the amount of $20,176.

4. Intangible assets Intangible assets consisted of the following at December 31, 2024 and 2023:   December 31,  December 31,   2024  2023 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 $39,308 in software development costs for the year ended December 31, 2023 and an additional $88,683