TheGlobe.com, Inc. Files Quarterly Report (10-Q) for Period Ended March 31, 2024

TL;DR

<b>TheGlobe.com, Inc. has filed its quarterly report for Q1 2024, detailing financial positions and related party transactions.</b>

AI Summary

THEGLOBE COM INC (TGLO) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. TheGlobe.com, Inc. filed a Form 10-Q for the quarterly period ended March 31, 2024. The company is incorporated in Delaware and has an IRS number of 141782422. Its principal business address is 110 East Broward Boulevard, Suite 1400, Fort Lauderdale, FL 33301. The filing references various financial statement items including Retained Earnings, Additional Paid In Capital, Common Stock, and Notes Payable. Specific related party notes mention Delfin Midstream LLC and a Common Stock Purchase Agreement dated December 20, 2017.

Why It Matters

For investors and stakeholders tracking THEGLOBE COM INC, this filing contains several important signals. This 10-Q filing provides an update on the company's financial health and operational status as of the end of the first quarter of 2024. The inclusion of related party information, such as the notes payable to Delfin Midstream LLC, offers insight into significant financial relationships and potential obligations.

Risk Assessment

Risk Level: low — THEGLOBE COM INC shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate indicators of significant financial distress or major operational changes, suggesting a low level of immediate risk based solely on this document.

Analyst Insight

Monitor future filings for updates on the company's financial performance and any developments related to the mentioned related party transactions.

Key Numbers

• 2024-03-31 — Quarter End Date (Period of Report)
• 2024-05-14 — Filing Date (Date Filed)
• 141782422 — IRS Number (Company Tax ID)
• DE — State of Incorporation (Jurisdiction of Organization)
• 7310 — SIC Code (Services-Advertising)
• 0-25053 — SEC File Number (Commission File Number)

Key Players & Entities

• THEGLOBE COM INC (company) — Registrant name
• TGLO (company) — Ticker symbol
• Delfin Midstream LLC (company) — Related party mentioned in notes payable
• Fort Lauderdale (location) — City of business address
• Delaware (location) — State of incorporation
• 2024-03-31 (date) — Quarterly period end date
• 2024-05-14 (date) — Filing date
• 0-25053 (other) — SEC file number

FAQ

Risk Factors

• Notes Payable to Related Party [medium — financial]: The company has notes payable to Delfin Midstream LLC, indicating a financial obligation to a related entity.

Key Dates

• 2024-03-31: Quarterly Period End — Financial data reported is as of this date.
• 2024-05-14: Filing Date — The date the 10-Q was officially submitted to the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides an update on the company's financial performance and condition between annual reports.)

Key Financial Figures

• $0 — onths ended March 31, 2024 and 2023 was $0. GENERAL AND ADMINISTRATIVE. General a
• $31,000 — strative expenses totaled approximately $31,000 in the first quarter of 2024 as compare
• $35,000 — er of 2024 as compared to approximately $35,000 for the same quarter of the prior year.
• $21,000 — ed March 31, 2024 totaled approximately $21,000 compared to approximately $18,000 for t
• $18,000 — ately $21,000 compared to approximately $18,000 for the three months ended March 31, 20
• $51,000 — ended March 31, 2024 was approximately $51,000 as compared to a net loss of approximat
• $53,000 — compared to a net loss of approximately $53,000 for the three months ended March 31, 20
• $28,677 — OW ITEMS As of March 31, 2024, we had $28,677 in cash as compared to $9,105 as of Dec
• $9,105 — , we had $28,677 in cash as compared to $9,105 as of December 31, 2023. Net cash flows
• $30,000 — rating activities totaled approximately $30,000 for the three months ended March 31, 20
• $32,000 — n operating activities of approximately $32,000 for the three months ended March 31, 20
• $50,000 — rovided by financing activities totaled $50,000 for the three months ended March 31, 20
• $45,000 — e three months ended March 31, 2024 and $45,000 for the three months ended March 31, 20
• $977,000 — s over the years and in October 2023 to $977,000, which was our balance at December 31,
• $1,027,000 — ary 2024 it was amended and restated to $1,027,000, which is our balance as of March 31, 2

Filing Documents

• tglo-20240331x10q.htm (10-Q) — 350KB
• tglo-20240331xex31d1.htm (EX-31.1) — 12KB
• tglo-20240331xex32d1.htm (EX-32.1) — 8KB
• 0001410578-24-000806.txt (&nbsp;) — 1509KB
• tglo-20240331.xsd (EX-101.SCH) — 15KB
• tglo-20240331_cal.xml (EX-101.CAL) — 15KB
• tglo-20240331_def.xml (EX-101.DEF) — 25KB
• tglo-20240331_lab.xml (EX-101.LAB) — 117KB
• tglo-20240331_pre.xml (EX-101.PRE) — 80KB
• tglo-20240331x10q_htm.xml (XML) — 78KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 2 ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 2 CONDENSED BALANCE SHEETS AT MARCH 31, 2024 (UNAUDITED) AND DECEMBER 31, 2023 2 UNAUDITED CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023 3 UNAUDITED CONDENSED STATEMENTS OF STOCKHOLDERS' DEFICIT FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023 4 UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023 5 NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS 6 ITEM 2.

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS 8 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 10 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 11

- OTHER INFORMATION

PART II - OTHER INFORMATION 11 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 11 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 11 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 11 ITEM 4. MINE SAFETY DISCLOSURES 12 ITEM 5. OTHER INFORMATION 12 ITEM 6. EXHIBITS 13

SIGNATURES

SIGNATURES 14 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

CONDENSED FINANCIAL STATEMENTS

ITEM 1. CONDENSED FINANCIAL STATEMENTS THEGLOBE.COM, INC. CONDENSED BALANCE SHEETS MARCH 31, DECEMBER 31, 2024 2023 (Unaudited) ASSETS Current Assets: Cash $ 28,677 $ 9,105 Total current assets $ 28,677 $ 9,105 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable $ 2,736 $ 3,661 Accrued expenses and other current liabilities 27,048 25,748 Accrued interest due to related party 301,633 281,204 Notes payable due to related party 1,027,000 977,000 Total current liabilities 1,358,417 1,287,613 Stockholders' Deficit: Common stock, $ 0.001 par value; 500,000,000 shares authorized; 441,480,473 shares issued at March 31, 2024 and December 31, 2023 441,480 441,480 Preferred stock, $ 0.001 par value; 3,000,000 shares authorized; 0 shares issued at March 31, 2024 and December 31, 2023 — — Additional paid in capital 296,594,042 296,594,042 Accumulated deficit ( 298,365,262 ) ( 298,314,030 ) Total stockholders' deficit ( 1,329,740 ) ( 1,278,508 ) Total liabilities and stockholders' deficit $ 28,677 $ 9,105 See notes to unaudited condensed financial statements 2 Table of Contents THEGLOBE.COM, INC. CONDENSED STATEMENTS OF OPERATIONS Three Months Ended March 31, 2024 2023 (UNAUDITED) Net Revenue $ — $ — Operating Expenses: General and administrative 30,803 35,142 Operating Loss ( 30,803 ) ( 35,142 ) Other Expense: Related party interest expense 20,429 17,842 Loss from Operations Before Income Tax ( 51,232 ) ( 52,984 ) Income Tax Provision — — Loss from Operations ( 51,232 ) ( 52,984 ) Net Loss $ ( 51,232 ) $ ( 52,984 ) Loss Per Share Basic and Diluted: $ — $ — Weighted Average Common Shares Outstanding $ 441,480,473 $ 441,480,473 See notes to unaudited condensed financial statements 3 Table of Contents THEGLOBE.COM, INC. UNAUDITED CONDENSED STATEMENTS OF STOCKHOLDERS' DEFICIT Three Month Period

MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

FORWARD LOOKING STATEMENTS

FORWARD LOOKING STATEMENTS This Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). These statements concern expectations, beliefs, projections, plans and strategies, anticipated events or trends and similar expressions concerning matters that are not historical facts. In some cases, you can identify forward-looking statements by terminology, such as "may," "will," "should," "could," "expect," "plan," "anticipate," "believe," "estimate," "project," "predict," "intend," "potential" or "continue" or the negative of such terms or other comparable terminology, although not all forward-looking statements contain such terms. In addition, these forward-looking statements include, but are not limited to, statements regarding: our need for additional equity and debt capital financing to continue as a going concern, and the sources of such capital; our estimates with respect to our ability to continue as a going concern; our intent with respect to future dividends; the continued forbearance of certain related parties from making demand for payment under certain contractual obligations of, and loans to, the Company; and our estimates with respect to certain accounting and tax matters. These forward-looking statements reflect our current view about future events and are subject to risks, uncertainties and assumptions. Unless required by law, we do not intend to update any of the forward-looking statements after the date of this Form 10-Q or to conform these statements to actual results. We wish to caution readers that certain important factors may have affected and could in the future affect our actual results and could cause actual results to differ significantly from those expressed in any forward-looking statement. A description of risks that could cause our results to vary appears under the section titled "R

QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK As a smaller reporting company, as defined in Rule 12B - 2 of the Exchange Act, we are not required to provide the information under this item. 10 Table of Contents

CONTROLS AND PROCEDURES

ITEM 4. CONTROLS AND PROCEDURES We maintain disclosure controls and procedures that are designed to ensure (1) that information required to be disclosed by us in the reports we file or submit under the Securities Exchange Act of 1934, as amended (the "Exchange Act"), is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission's ("SEC") rules and forms, and (2) that this information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, can provide only reasonable assurance of achieving the desired control objectives, and management necessarily was required to apply its judgment in evaluating the cost benefit relationship of possible controls and procedures. Our Chief Executive Officer and Chief Financial Officer has evaluated the effectiveness of our disclosure controls and procedures as of March 31, 2024. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer has concluded that, as of March 31, 2024, our disclosure controls and procedures were effective in alerting him in a timely manner to material information regarding us that is required to be included in our periodic reports to the SEC. Our Chief Executive Officer and Chief Financial Officer has evaluated any change in our internal control over financial reporting that occurred during the quarter ended March 31, 2024 that has materially affected, or is reasonably likely to materially affect, our internal control over financial reporting, and has determined there to be no reportable changes.

- OTHER INFORMATION

PART II - OTHER INFORMATION

LEGAL PROCEEDINGS

ITEM 1. LEGAL PROCEEDINGS None.

RISK FACTORS

ITEM 1A. RISK FACTORS There have been no material changes to the risk factors disclosed in Part I, Item 1A. "Risk Factors" in our Annual Report on Form 10 - K for the fiscal year ended December 31, 2023. You should carefully consider the factors discussed in Part I, "Item 1A. Risk Factors" in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, which could materially affect our business, financial position, or future results of operations. The risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2023, are not

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