THEGLOBE.COM's Losses Widen Amid Shell Company Status, Delfin Funding

TL;DR

**TGLO is a zombie stock, bleeding cash and relying solely on its majority shareholder to stay afloat; avoid at all costs.**

AI Summary

THEGLOBE.COM, INC. (TGLO) reported no revenue for the three and nine months ended September 30, 2025, consistent with its status as a shell company since September 29, 2008. The company incurred a net loss of $59,644 for the three months ended September 30, 2025, an increase from a net loss of $52,559 in the prior-year period, primarily due to increased general and administrative expenses and related party interest expense. For the nine months ended September 30, 2025, the net loss was $172,313, up from $166,303 in the same period of 2024. General and administrative expenses rose to $35,692 in Q3 2025 from $30,917 in Q3 2024, driven by higher legal and filing expenses. Related party interest expense increased to $23,952 in Q3 2025 from $21,642 in Q3 2024, reflecting additional borrowings from Delfin Midstream LLC. As of September 30, 2025, TGLO's current liabilities of $1,687,365 significantly exceeded its total assets of $31,677, resulting in a stockholders' deficit of $1,655,688. The company continues to rely on funding from its majority stockholder, Delfin, through a promissory note, which increased to $1,220,000 by September 30, 2025.

Why It Matters

For investors, TGLO's continued status as a shell company with no revenue and increasing losses signals extreme risk and a lack of operational viability. The reliance on Delfin Midstream LLC for ongoing funding, with the promissory note balance reaching $1,220,000, highlights a precarious financial position and raises questions about long-term sustainability. Employees are non-existent in a shell company, and customers are irrelevant as there are no operations. In the broader market, TGLO serves as a cautionary tale of a once-prominent internet company reduced to a non-operating entity, underscoring the importance of fundamental business models over speculative ventures. Its competitive context is non-existent, as it has no active business.

Risk Assessment

Risk Level: high — The company explicitly states it is a 'shell company' with 'no material operations or assets' and has generated '$0' in net revenue for both the three and nine months ended September 30, 2025. Its current liabilities of $1,687,365 vastly exceed its total assets of $31,677, leading to a stockholders' deficit of $1,655,688, which raises 'substantial doubt about the Company's ability to continue as a going concern beyond the next twelve months.'

Analyst Insight

Investors should avoid TGLO stock due to its shell company status, lack of revenue, and significant going concern risk. The company's financial health is entirely dependent on its majority shareholder, Delfin, which is an unsustainable long-term strategy. This is a speculative asset with no underlying business.

Financial Highlights

debt To Equity

N/A

revenue

$0

operating Margin

N/A

total Assets

$31,677

total Debt

$1,655,688

net Income

-$59,644

eps

$0.00

gross Margin

N/A

cash Position

$31,677

revenue Growth

0.0%

Revenue Breakdown

Key Numbers

• $0 — Net Revenue (For three and nine months ended September 30, 2025, indicating no operations.)
• $59,644 — Net Loss (Q3 2025) (Increased from $52,559 in Q3 2024, showing widening losses.)
• $172,313 — Net Loss (YTD Q3 2025) (Increased from $166,303 in YTD Q3 2024.)
• $1,687,365 — Total Current Liabilities (As of September 30, 2025, significantly exceeding assets.)
• $31,677 — Total Current Assets (As of September 30, 2025, indicating minimal liquidity.)
• $1,220,000 — Notes Payable due to related party (Balance as of September 30, 2025, showing reliance on Delfin funding.)
• $435,544 — Accrued interest due to related party (As of September 30, 2025, growing debt burden from Delfin.)
• $1,655,688 — Total Stockholders' Deficit (As of September 30, 2025, reflecting negative equity.)
• 441,480,473 — Shares Outstanding (As of November 3, 2025, indicating a large share count for a non-operating company.)

Key Players & Entities

• THEGLOBE.COM, INC. (company) — Registrant
• Delfin Midstream LLC (company) — Majority stockholder and primary lender
• Tralliance Corporation (company) — Former subsidiary whose sale made TGLO a shell company
• Michael S. Egan (person) — Former Chairman and CEO, sold majority stake to Delfin
• SEC (regulator) — Securities and Exchange Commission

FAQ

Risk Factors

• Severe Liquidity Constraints [high — financial]: As of September 30, 2025, total current liabilities of $1,687,365 far exceed total assets of $31,677. This significant imbalance results in a substantial stockholders' deficit of $1,655,688, indicating a high risk of insolvency.
• Increasing Related Party Debt [high — financial]: The company's reliance on funding from Delfin Midstream LLC is increasing, with notes payable due to the related party rising to $1,220,000 and accrued interest to $435,544 as of September 30, 2025. This growing debt burden, coupled with no revenue, poses a significant financial risk.
• Shell Company Status and Lack of Operations [high — operational]: The company has reported no revenue since September 29, 2008, and continues to operate as a shell company. This lack of active business operations means the company has no discernible business model or path to profitability.
• Widening Net Losses [medium — financial]: Net losses have increased year-over-year, with Q3 2025 losses at $59,644 compared to $52,559 in Q3 2024, and year-to-date losses at $172,313 compared to $166,303. These losses are driven by rising general and administrative expenses and related party interest.
• Rising General and Administrative Expenses [medium — operational]: General and administrative expenses increased to $35,692 in Q3 2025 from $30,917 in Q3 2024, primarily due to higher legal and filing expenses. These costs are unsustainable for a company with no revenue.

Industry Context

TheGlobe.com, Inc. operates in a highly competitive and rapidly evolving technology and internet services landscape. However, as a shell company with no active operations, it is not directly participating in this industry. Its current financial situation and lack of revenue make it a non-player in any active market.

Regulatory Implications

As a publicly traded shell company, TGLO is subject to SEC reporting requirements, including the filing of 10-Q and 10-K reports. Failure to maintain compliance or engage in any fraudulent activities could lead to severe penalties and delisting.

What Investors Should Do

1. Avoid Investment
2. Monitor for Potential Reverse Merger Activity

Key Dates

• 2008-09-29: Company status changed to shell company — Marks the beginning of the company's non-operational phase, with no revenue generation since this date.
• 2025-09-30: Balance Sheet Date — Reveals a severe liquidity crisis with current liabilities ($1,687,365) vastly exceeding total assets ($31,677).
• 2025-09-30: End of Q3 Reporting Period — Reported net loss of $59,644 for the quarter, an increase from the prior year, highlighting deteriorating financial performance.

Glossary

Shell Company

A company that is formed and maintained for the purpose of holding assets, limiting legal liability, or facilitating the transfer of assets, but which typically has no commercial operations or significant assets of its own. (TheGlobe.com, Inc. has been operating as a shell company since September 29, 2008, explaining its lack of revenue and focus on financial maneuvering rather than business operations.)

Stockholders' Deficit

The amount by which a company's liabilities exceed its assets, resulting in negative equity for shareholders. (The company has a significant stockholders' deficit of $1,655,688 as of September 30, 2025, indicating that the company's liabilities far outweigh its assets.)

Related Party Transaction

A financial transaction that occurs between entities that are related to each other, such as between a parent company and its subsidiary, or between companies controlled by the same individual or group. (The company's operations are heavily influenced by related party transactions, specifically borrowings from and interest expenses owed to Delfin Midstream LLC.)

Accrued Interest

Interest that has been incurred but not yet paid. (The significant and growing accrued interest due to Delfin Midstream LLC ($435,544) adds to the company's debt burden.)

Year-Over-Year Comparison

Compared to the prior year's filing, TheGlobe.com, Inc. continues to report zero revenue, reinforcing its status as a shell company. Net losses have widened both for the quarter ($59,644 vs. $52,559) and year-to-date ($172,313 vs. $166,303), primarily due to increased general and administrative expenses and related party interest. Total liabilities have grown significantly, while assets remain minimal, leading to a further deterioration of the already substantial stockholders' deficit.

Key Financial Figures

• $0 — s ended September 30, 2025 and 2024 was $0. GENERAL AND ADMINISTRATIVE. General a
• $36,000 — strative expenses totaled approximately $36,000 in the third quarter of 2025 as compare
• $31,000 — er of 2025 as compared to approximately $31,000 for the same quarter of the prior year.
• $24,000 — eptember 30, 2025 totaled approximately $24,000 compared to $22,000 for the three month
• $22,000 — taled approximately $24,000 compared to $22,000 for the three months ended September 30
• $60,000 — ed September 30, 2025 was approximately $60,000 as compared to a net loss of approximat
• $53,000 — compared to a net loss of approximately $53,000 for the three months ended September 30
• $103,000 — strative expenses totaled approximately $103,000 for the first nine months of 2025 as co
• $104,000 — hs of 2025 as compared to approximately $104,000 for the same period of the prior year.
• $69,000 — eptember 30, 2025 totaled approximately $69,000 compared to $63,000 for the nine months
• $63,000 — taled approximately $69,000 compared to $63,000 for the nine months ended September 30,
• $172,000 — ed September 30, 2025 was approximately $172,000 as compared to a net loss of approximat
• $166,000 — compared to a net loss of approximately $166,000 for the nine months ended September 30,
• $31,677 — TEMS As of September 30, 2025, we had $31,677 in cash as compared to $23,750 as of De
• $23,750 — , we had $31,677 in cash as compared to $23,750 as of December 31, 2024. Net cash flows

Filing Documents

• tglo-20250930x10q.htm (10-Q) — 478KB
• tglo-20250930xex10d1.htm (EX-10.1) — 35KB
• tglo-20250930xex31d1.htm (EX-31.1) — 9KB
• tglo-20250930xex32d1.htm (EX-32.1) — 4KB
• 0001104659-25-107076.txt ( ) — 1816KB
• tglo-20250930.xsd (EX-101.SCH) — 15KB
• tglo-20250930_cal.xml (EX-101.CAL) — 15KB
• tglo-20250930_def.xml (EX-101.DEF) — 35KB
• tglo-20250930_lab.xml (EX-101.LAB) — 125KB
• tglo-20250930_pre.xml (EX-101.PRE) — 87KB
• tglo-20250930x10q_htm.xml (XML) — 114KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 2 ITEM 1.

FINANCIAL STATEMENTS

FINANCIAL STATEMENTS 2 CONDENSED BALANCE SHEETS AT SEPTEMBER 30, 2025 (UNAUDITED) AND DECEMBER 31, 2024 2 UNAUDITED CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024 3 UNAUDITED CONDENSED STATEMENTS OF STOCKHOLDERS' DEFICIT FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024 4 UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025, AND 2024 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 SEPTEMBER 30, DECEMBER 31, 2025 2024 (Unaudited) ASSETS Current Assets: Cash $ 31,677 $ 23,750 Total current assets $ 31,677 $ 23,750 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable $ 9,210 $ 2,136 Accrued expenses and other current liabilities 22,611 25,870 Accrued interest due to related party 435,544 366,119 Notes payable due to related party 1,220,000 1,113,000 Total current liabilities 1,687,365 1,507,125 Stockholders' Deficit: Common stock, $ 0.001 par value; 500,000,000 shares authorized; 441,480,473 shares issued at September 30, 2025 and December 31, 2024 441,480 441,480 Preferred stock, $ 0.001 par value; 3,000,000 shares authorized; 0 shares issued at September 30, 2025 and December 31, 2024 — — Additional paid in capital 296,594,042 296,594,042 Accumulated deficit ( 298,691,210 ) ( 298,518,897 ) Total stockholders' deficit ( 1,655,688 ) ( 1,483,375 ) Total liabilities and stockholders' deficit $ 31,677 $ 23,750 See notes to unaudited condensed financial statements 2 Table of Contents THEGLOBE.COM, INC. CONDENSED STATEMENTS OF OPERATIONS Three Months Ended September 30, Nine Months Ended September 30, 2025 2024 2025 2024 (UNAUDITED) (UNAUDITED) Net Revenue $ — $ — $ — $ — Operating Expenses: General and administrative 35,692 30,917 102,888 103,570 Operating Loss ( 35,692 ) ( 30,917 ) ( 102,888 ) ( 103,570 ) Other Expense: Related party interest expense 23,952 21,642 69,425 62,733 Loss from Operations Before Income Tax ( 59,644 ) ( 52,559 ) ( 172,313 ) ( 166,303 ) Income Tax Provision — — — — Loss from Operations ( 59,644 ) ( 52,559 ) ( 172,313 ) ( 166,303 ) Net Loss $ ( 59,644 ) $ ( 52,559 ) $ ( 172,313 ) $ ( 166,303 ) Loss Per Share: Basic and Diluted: — — — —

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; matters related to our anticipated funding from Delfin; our beliefs regarding the effects of inflation on our results of operations; 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 expr

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