Company: TGNT
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008363
Chunk: 108

Company: Totaligent, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 8
Chunk 108
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 9Table of Contents

Results of Operations

The following discussion should be read in conjunction with the information contained in the accompanying unaudited consolidated financial statements and related notes included elsewhere in this Quarterly Report on Form 10-Q. Our historical results of operations summarized and analyzed below may not necessarily reflect what will occur in the future.

Nine Months Ended September 30, 2025 compared to the Nine Months Ended September 30, 2024

For the nine months ended September 30, 2025 and 2024, the Company had total revenues of $2,248 and $444,529, respectively, and gross profits of $2,248 and $45,290, respectively. The Company’s volume of sales decreased in the nine months ended September 30, 2025 when compared to the nine months ended September 30, 2024 primarily due to a decrease in managed campaign activity. The Company focused its efforts during the year on completing development of its platform, which is nearing launch.

Cost of goods sold for the nine months ended September 30, 2025 and 2024 were $0 and $399,239, respectively. Cost of goods sold consists primarily of costs associated with outsourcing certain campaign activities. The decrease in cost of goods sold for the nine months ended September 30, 2025 when compared to the nine months ended September 30, 2024 was primarily due to the corresponding decrease in revenues.

The Company’s operating expenses decreased from $772,102 for the nine months ended September 30, 2024 to $299,828 for the nine months ended September 30, 2025 due primarily to a decrease in personnel expenses due to employment agreements expiring on December 31, 2024. Additionally, in the prior period the Company paid stock based compensation to consultants totaling $300,000 and there were none in the current period.

Other expenses went from $107,903 for the nine months ended September 30, 2024 to $40,087 for the nine months ended September 30, 2025. The primary reason for the difference is the Company recorded income of $19,170 related