Company: TGNT
Filing Date: 2025-05-07
Form Type: S-1/A
Source: 0001477932-25-003416
Chunk: 104

Company: Totaligent, Inc.
Filing Date: 2025-05-07
Form: S-1/A
Chunk 104
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|------------------:|:---|:----|:----|------------------:|:---|
| U.S. statutory federal income tax rate |     |             |                21 | %  |     |     |                21 | %  |
| State income taxes                     |     |             |                 5 | %  |     |     |                 5 | %  |
| Change in valuation allowance          |     | (26         |                   | %) |     | (26 |                   | %) |
| Effective income tax rate              |     |             |                 0 | %  |     |     |                 0 | %  |

A reconciliation of the income taxes computed at the statutory rate is as follows:

|                                              |     | Years Ended | December 31, 2024 |   |     |   | December 31, 2023 |   |
|:---------------------------------------------|:----|:------------|------------------:|:--|:----|:--|------------------:|:--|
| Tax credit (expense) at statutory rate (26%) |     | $           |           246,281 |   |     | $ |           104,564 |   |
| Increase in valuation allowance              |     |             |          (246,281 | ) |     |   |          (104,564 | ) |
| Net deferred income tax asset                |     | $           |                 — |   |     | $ |                 — |   |

At December 31, 2024 and 2023, the significant components of the deferred tax assets are summarized below:

|                                    |     | 2024 | December 31, |   |     | 2023 | December 31, |   |
|:-----------------------------------|:----|:-----|-------------:|:--|:----|:-----|-------------:|:--|
| Net operating loss carry-forward   |     | $    |      469,914 |   |     | $    |      223,633 |   |
| Valuation allowance                |     |      |     (469,914 | ) |     |      |     (223,633 | ) |
| Net deferred tax asset (liability) |     | $    |            - |   |     | $    |            - |   |

As of December 31, 2024 and 2023, the Company had a federal net operating loss carry