Company: TGNT
Filing Date: 2025-04-30
Form Type: S-1
Source: 0001477932-25-003124
Chunk: 95

Company: Totaligent, Inc.
Filing Date: 2025-04-30
Form: S-1
Chunk 95
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280): Improvements to Reportable Segment Disclosures*, enhancing segment expense transparency. The update requires public entities to disclose significant segment expenses regularly provided to the chief operating decision maker and extends certain annual segment disclosures to interim periods. ASU 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-13 |

3. Property and equipment

Property and equipment as of December 31, 2024 and 2023, are summarized as follows:

|                                |     | 2024 | December 31, |   |     | 2023 | December 31, |   |
|:-------------------------------|:----|:-----|-------------:|:--|:----|:-----|-------------:|:--|
| 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 $ 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.