Company: TGNT
Filing Date: 2025-05-16
Form Type: 10-Q
Source: 0001477932-25-003912
Chunk: 127

Company: Totaligent, Inc.
Filing Date: 2025-05-16
Form: 10-Q
Item: Part II, Item 8
Chunk 127
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 $78,023 for the three months ended March 31, 2025 due primarily to a decrease in personnel expenses due to all of the employment agreements expiring on December 31, 2024.

Other income (expenses) went from $26,958 in income for the three months ended March 31, 2024 to ($87,455) in expense for the three months ended March 31, 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 loss on the change in fair value of derivative liability in the amount of $55,336. In the prior period, the Company recorded a gain on the change in fair value of derivative liability in the amount of $43,907.

As a result of decreased sales, we had a net loss of $165,478 for the three months ended March 31, 2025 compared to a net loss of $127,890 for the three months ended March 31, 2024. 

Liquidity and Capital Resources

Going Concern

We have had negative working capital and have sustained operating losses since inception.  These factors, and the need for additional financing in order for the Company to meet its business plan raises substantial doubt about the Company’s ability to continue as a going concern. 

We anticipate that operating losses will continue in the near term. We intend to meet near-term obligations with private placement offerings. We currently have limited revenue, which is not sufficient to cover operational expenses.

Failure to raise adequate capital and generate adequate revenues could result in the Company having to curtail or cease operations. The Company’s ability to raise additional capital through the future issuances of the common stock is unknown. Additionally, even if the Company does raise sufficient capital to support its operating expenses and generate adequate revenues, there can be no assurances that the revenue will be sufficient to enable it to develop to a level where it will generate profits and cash flows from operations. These matters raise substantial doubt about the Company’s ability to continue as a going concern; however, the accompanying consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and satisfaction of liabilities in the normal course of business. These consolidated financial statements do not include any adjustments relating to the recovery of the recorded assets or the classifications of the liabilities that might be necessary should the Company be unable to continue as a going concern. 

 9Table of Contents

Capital Resources

To