The Globe.com Files Q2 2024 10-Q

TL;DR

TGLO filed its Q2 10-Q. All systems go.

AI Summary

The Globe.com, Inc. filed its 10-Q for the period ending June 30, 2024. The company, incorporated in Delaware, operates in the advertising services sector. Its principal executive offices are located at 110 East Broward Boulevard, Suite 1400, Fort Lauderdale, FL.

Why It Matters

This filing provides investors with an update on The Globe.com's financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not contain immediate red flags.

Key Numbers

• 20240630 — Period End Date (Indicates the end of the reporting quarter.)
• 20240805 — Filing Date (Shows when the report was submitted to the SEC.)

Key Players & Entities

• THEGLOBE COM INC (company) — Filer
• 0001066684 (company) — Central Index Key
• 7310 (company) — Standard Industrial Classification (Advertising Services)
• 110 EAST BROWARD BOULEVARD SUITE 1400 FORT LAUDERDALE FL 33301 (company) — Business Address
• PO BOX 029006 FORT LAUDERDALE FL 33302 (company) — Mail Address
• 20240630 (date) — Period of Report

FAQ

Key Financial Figures

• $0 — months ended June 30, 2024 and 2023 was $0. GENERAL AND ADMINISTRATIVE. General a
• $42,000 — strative expenses totaled approximately $42,000 in the second quarter of 2024 as compar
• $28,000 — er of 2024 as compared to approximately $28,000 for the same quarter of the prior year.
• $21,000 — ed June 30, 2024, totaled approximately $21,000 compared to approximately $19,000 for t
• $19,000 — ately $21,000 compared to approximately $19,000 for the three months ended June 30, 202
• $63,000 — ended June 30, 2024, was approximately $63,000 as compared to a net loss of approximat
• $47,000 — compared to a net loss of approximately $47,000 for the three months ended June 30, 202
• $73,000 — strative expenses totaled approximately $73,000 for the first six months of 2024 as com
• $41,000 — ed June 30, 2024, totaled approximately $41,000 compared to approximately $36,000 for t
• $36,000 — ately $41,000 compared to approximately $36,000 for the six months ended June 30, 2023.
• $114,000 — ended June 30, 2024, was approximately $114,000 as compared to a net loss of approximat
• $100,000 — compared to a net loss of approximately $100,000 for the six months ended June 30, 2023.
• $10,513 — LOW ITEMS As of June 30, 2024, we had $10,513 in cash as compared to $9,105 as of Dec
• $9,105 — , we had $10,513 in cash as compared to $9,105 as of December 31, 2023. Net cash flows
• $78,000 — rating activities totaled approximately $78,000 for the six months ended June 30, 2024,

Filing Documents

• tglo-20240630x10q.htm (10-Q) — 461KB
• tglo-20240630xex10d2.htm (EX-10.2) — 37KB
• tglo-20240630xex31d1.htm (EX-31.1) — 13KB
• tglo-20240630xex32d1.htm (EX-32.1) — 8KB
• 0001410578-24-001153.txt ( ) — 1718KB
• tglo-20240630.xsd (EX-101.SCH) — 15KB
• tglo-20240630_cal.xml (EX-101.CAL) — 15KB
• tglo-20240630_def.xml (EX-101.DEF) — 25KB
• tglo-20240630_lab.xml (EX-101.LAB) — 117KB
• tglo-20240630_pre.xml (EX-101.PRE) — 81KB
• tglo-20240630x10q_htm.xml (XML) — 100KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 2 ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 2 CONDENSED BALANCE SHEETS AT JUNE 30, 2024 (UNAUDITED) AND DECEMBER 31, 2023 2 UNAUDITED CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024 AND 2023 3 UNAUDITED CONDENSED STATEMENTS OF STOCKHOLDERS' DEFICIT FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2024 AND 2023 4 UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 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 9 ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK 12 ITEM 4.

CONTROLS AND PROCEDURES

CONTROLS AND PROCEDURES 12

- OTHER INFORMATION

PART II - OTHER INFORMATION 13 ITEM 1.

LEGAL PROCEEDINGS

LEGAL PROCEEDINGS 13 ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS 13 ITEM 3. DEFAULTS UPON SENIOR SECURITIES 13 ITEM 4. MINE SAFETY DISCLOSURES 13 ITEM 5. OTHER INFORMATION 13 ITEM 6. EXHIBITS 14

SIGNATURES

SIGNATURES 15 Table of Contents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

CONDENSED FINANCIAL STATEMENTS

ITEM 1. CONDENSED FINANCIAL STATEMENTS THEGLOBE.COM, INC. CONDENSED BALANCE SHEETS JUNE 30, DECEMBER 31, 2024 2023 (Unaudited) ASSETS Current Assets: Cash $ 10,513 $ 9,105 Total current assets $ 10,513 $ 9,105 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable $ 5,325 $ 3,661 Accrued expenses and other current liabilities 19,145 25,748 Accrued interest due to related party 322,295 281,204 Notes payable due to related party 1,056,000 977,000 Total current liabilities 1,402,765 1,287,613 Stockholders' Deficit: Common stock, $ 0.001 par value; 500,000,000 shares authorized; 441,480,473 shares issued at June 30, 2024 and December 31, 2023 441,480 441,480 Preferred stock, $ 0.001 par value; 3,000,000 shares authorized; 0 shares issued at June 30, 2024 and December 31, 2023 — — Additional paid in capital 296,594,042 296,594,042 Accumulated deficit ( 298,427,774 ) ( 298,314,030 ) Total stockholders' deficit ( 1,392,252 ) ( 1,278,508 ) Total liabilities and stockholders' deficit $ 10,513 $ 9,105 See notes to unaudited condensed financial statements 2 Table of Contents THEGLOBE.COM, INC. CONDENSED STATEMENTS OF OPERATIONS Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 (UNAUDITED) (UNAUDITED) Net Revenue $ — $ — $ — $ — Operating Expenses: General and administrative 41,850 28,353 72,653 63,495 Operating Loss ( 41,850 ) ( 28,353 ) ( 72,653 ) ( 63,495 ) Other Expense: Related party interest expense 20,662 18,555 41,091 36,397 Loss from Operations Before Income Tax ( 62,512 ) ( 46,908 ) ( 113,744 ) ( 99,892 ) Income Tax Provision — — — — Loss from Operations ( 62,512 ) ( 46,908 ) ( 113,744 ) ( 99,892 ) Net Loss $ ( 62,512 ) $ ( 46,908 ) $ ( 113,744 ) $ ( 99,892 ) Loss Per Share: Basic and Diluted $ — $ — $ — $ — Weighted Average Common

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 by Rule 12b-2 of the Exchange Act, we are not required to provide the i

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