M&A - Totaligent, Inc.

Form Type: 10-Q

Filing Date: 2025-05-16

Corporate Action: Merger

Type: Update

Accession Number: 000147793225003912

Filing Summary: Totaligent, Inc. filed its Form 10-Q for the quarterly period ended March 31, 2025, reporting significant financial performance indicators. The company recorded no revenue for the quarter, compared to $340,929 in the same period of the prior year. Operating expenses amounted to $78,023, leading to a net loss of $165,478. The company's total assets reached $349,573, with total liabilities of $2,252,303, resulting in a stockholders' deficit of $1,902,730. The financial statements reflect the impact of a merger with Digi, which was completed under an Agreement and Plan of Merger executed in December 2021, where Digi was merged into Totaligent. Following this merger, a subsidiary focused on refrigerant technology, CSES Group, Inc., was spun out. The company emphasized its need for additional capital to sustain operations and fulfill liabilities, highlighting doubts about its ability to continue as a going concern over the next year. Totaligent's common stock is traded under the symbol 'TGNT' since August 2022, but its financial stability remains uncertain as it faces substantial cash flow issues.