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Theglobe.com Inc. (TGLO0.00%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing indicates that Theglobe.com Inc. is a shell company with no material operations or assets since the sale of its Tralliance business in 2008. The company has been primarily funded by Delfin Midstream LLC, its majority stockholder.
The company reported a net loss of approximately $204,867 for the year ended December 31, 2024, compared to a net loss of approximately $191,740 for the previous year. The increase in net loss is attributed to higher legal and accounting fees and related party interest expenses.
As of December 31, 2024, Theglobe.com Inc. had total assets of $23,750 and total liabilities of $1,507,125, resulting in a stockholders' deficit of $1,483,375. The company has a working capital deficit of approximately $1,483,000 and relies on loans from Delfin to meet its financial obligations.
The company's financial statements include a going concern explanatory paragraph, highlighting significant doubt about its ability to continue as a going concern without additional funding.
Theglobe.com Inc. has no employees, and its executive officer, Frederick Jones, receives no compensation. Mr. Jones is also the sole member of the company's Board of Directors.
The company's common stock is quoted on the over-the-counter market under the symbol 'TGLO'. As of March 18, 2025, there were 441,480,473 shares of common stock outstanding.
The company does not anticipate paying dividends on its common stock in the foreseeable future. The delisting of its common stock from the NASDAQ national market in 2001 has made it more difficult for investors to sell shares.
Theglobe.com Inc. continues to explore its options related to its future and intends to maintain its status as a public company, making all requisite filings under the Exchange Act.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Theglobe.com Inc. annual 10-K report dated March 20, 2025. To report an error, please email earnings@qz.com.