Company: TGNT
Filing Date: 2025-04-07
Form Type: 10-K
Source: 0001477932-25-002496
Chunk: 226

Company: Totaligent, Inc.
Filing Date: 2025-04-07
Form: 10-K
Item: Item 1C
Chunk 226
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 Company involves auditor judgment due to the nature and extent of audit evidence and effort required to address these matters.

The primary procedures we performed to address these critical audit matters included the following:

 -We obtained debt and warrant related agreements and performed the following procedures:    -Reviewed agreements for all relevant terms.    -Tested management’s identification and treatment of agreement terms.    -Recalculated management’s fair value of each conversion feature based on the terms in the agreements.    -Assessed the terms and evaluated the appropriateness of management’s application of their accounting policies, along with their use of estimates, in the determination of the amortization of the debt discount.    -Reviewed the work of the Company’s specialist to calculate the fair value of the derivative liability using the Monte Carlo method to determine whether the derivative liability recorded by the Company was reasonable.   

We have served as the Company’s auditor since 2024.  Astra Audit & Advisory, LLC Tampa, Florida  April 7, 2025  

 F-2Table of Contents

TOTALIGENT, INC.(Formerly Alltemp, Inc.)AND SUBSIDIARYCONSOLIDATED BALANCE SHEETS  December 31, 2024  December 31, 2023                       ASSETS             Current assets      Cash $22,128  $167,735 Prepaid expenses  6,452   190,213 Total current assets  28,580   357,948          Property and equipment, net  66,354   89,544 Capitalized software  127,991   39,308 Total assets $222,925  $486,800                    LIABILITIES AND STOCKHOLDERS' DEFICIT                 Current liabilities        Accounts payable $7,000  $- Accrued compensation  988,697   655,395 Accrued interest  125,090   77,876 Convertible notes payable, net of unamortized discount of $0 and $6,467  681,335   514,363 Derivative liability  158,055   149,182 Total current liabilities  1,960,177   1,396,816          Total liabilities  1,960,177   1,396,816