Company: TGNT
Filing Date: 2025-08-13
Form Type: 10-Q
Source: 0001477932-25-005790
Chunk: 140

Company: Totaligent, Inc.
Filing Date: 2025-08-13
Form: 10-Q
Item: Part II, Item 8
Chunk 140
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 a decreased net loss in net loss in the amount of $44,042, a decrease in the loss on change in fair value of derivative liabilities in the amount of $26,550, an increase in loss on disposal of assets in the amount of $18,327 and an increase in the change of accrued interest in the amount of $8,327. During the six months ended June 30, 2025, net cash used in investing activities was ($15,234) compared to ($41,700) during the six months ended June 30, 2024. This difference related to less expenditures in the current period for capitalized software versus the prior period. During the six months ended June 30, 2025, our financing activities provided cash of $230,000 compared to $0 during the six months ended June 30, 2024. The cash provided in the current period related to proceeds from the issuance of convertible notes payable. 

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Item 3. Qualitative and Quantitative Discussions about Market Risk

Not applicable.

Item 4. Controls and Procedures

Evaluation of Disclosure Controls and Procedures

Our management is responsible for maintaining disclosure controls and procedures that are designed to ensure that information required to be disclosed in the reports that the Registrant files or submits under the Exchange Act is recorded, processed, summarized and reported within the time periods specified in the SEC’s rules and forms. In addition, the disclosure controls and procedures must ensure that such information is accumulated and communicated to the Registrant’s management, including its Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required financial and other required disclosures.

At June 30, 2025, an evaluation of the effectiveness of our disclosure controls and procedures (as defined in Rules 13(a)-15(e) and 15(d)-15(e) of the Exchange Act) was carried out under the supervision and with the participation of Edward C. DeFeudis our Chief Executive Officer and Brian Heckathorne our Director. Based on our evaluation of our disclosure controls and procedures, we concluded that, at June 30, 2025, our disclosure controls and procedures are effective.

Management’s Quarterly Report on Internal Control over Financial Reporting

Our management is responsible for establishing and maintaining adequate internal control over our financial reporting. Internal control over financial reporting is a process designed to provide reasonable assurance to our management and board of directors regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with U.S.