Company: TGNT
Filing Date: 2025-11-17
Form Type: 10-Q
Source: 0001477932-25-008363
Chunk: 67

Company: Totaligent, Inc.
Filing Date: 2025-11-17
Form: 10-Q
Item: Part I, Item 2
Chunk 67
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 30, 2024 primarily due to a decrease in managed campaign activity.

Cost of goods sold for the three months ended September 30, 2025 and 2024 were $0 and $30,879, respectively. Cost of goods sold consists primarily of costs associated with outsourcing certain campaign activities. The decrease in cost of goods sold for the three months ended September 30, 2025 when compared to the three months ended September 30, 2024 was primarily due to the corresponding decrease in revenues.

The Company’s operating expenses decreased from $457,615 for the three months ended September 30, 2024 to $117,300 for the three months ended September 30, 2025 due to in the prior period the Company paid stock based compensation to consultants totaling $300,000 and there were none in the current period.

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Other expenses went from $116,919 for the three months ended September 30, 2024 to $2,365 for the three months ended September 30, 2025. The primary reason for the difference is the Company recorded income of $19,170 related to securities received, recorded income of $70,830 resulting from the change in fair value of the securities, offset by a loss of ($75,046) related to the change in fair value of the derivative liability. In the prior period, the Company had expense of ($105,066) related to the change in fair value of the derivative liability.

We had a net loss of $117,417 for the three months ended September 30, 2025 compared to a net loss of $575,423 for the three months ended September 30, 2024.  The primary reason for the decrease net loss was related to the decrease in operating expenses which was primarily a result of in the prior period the Company paid stock based compensation to consultants totaling $300,000 and there were none in the current period.

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