Company: TGNT
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001477932-25-002496
Chunk: 57

Company: Totaligent, Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1
Chunk 57
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** 8/7/2024  30,000  2/7/2025  6   30,000   -  13  ** 8/26/2024  30,000  2/26/2025  6   30,000   -  14   ** 10/29/2024  7,000  4/29/2025  6   7,000   -  15  ** 11/27/2024  25,000  5/27/2025  6   25,000   -  16   ** 12/2/2024  25,000  6/2/2025  6   25,000   -  17  ** 12/9/2024  25,000  6/9/2025  6   25,000   -  18   ** 12/18/2024  18,505  3/28/2024  10   18,505   -       Total         $681,335  $520,830       Total Current           $681,335  $520,830       Total Long Term           $-  $-       Less unamortized discount        $-  $(6,467)      Carrying value           $681,335  $514,363    *The conversion price is the average closing bid price for the 10 trading days prior to the conversion date multiplied by 80%, not to exceed $0.01.**The conversion price is fixed at $0.01 per share.*** In default as of December 31, 2024.

 F-14Table of Contents

Accounting considerations for notes with variable conversion prices  The Company evaluated the notes under ASC 815 Derivatives and Hedging (“ASC 815”). ASC 815 generally requires the analysis of embedded terms and features that have characteristics of derivatives to be evaluated for bifurcation and separate accounting in instances where their economic risks and characteristics are not clearly and closely related to the risks of the host contract. The material embedded derivative features consisted of the embedded conversion option. The conversion option bears risk of equity