THEGLOBE COM INC 10-Q Report

About this update from Theglobe.com, Inc.

THEGLOBE COM INC, a shell company with no material operations or assets since the sale of its Tralliance business in 2008, has released its Form 10-Q report for the second quarter of 2024. The report highlights the company's financial and operational performance, focusing on its ongoing expenses and future outlook. Financial Highlights Net Revenue: $0 million. The company has not had any material operations since becoming a shell company in 2008, resulting in no net revenue for the reporting periods. Operating Loss: $(41,850) for the three months ended June 30, 2024, compared to $(28,353) for the same period in 2023. This increase in operating loss is primarily due to higher general and administrative expenses. Net Loss: $(62,512) for the three months ended June 30, 2024, compared to $(46,908) for the same period in 2023. The increase in net loss is attributed to higher general and administrative expenses and related party interest expenses. Net Loss: $(113,744) for the six months ended June 30, 2024, compared to $(99,892) for the same period in 2023. The increase in net loss is due to increased general and administrative expenses and related party interest expenses. Loss Per Share: $0 for both the three and six months ended June 30, 2024 and 2023, as there were no potentially dilutive securities. Business Highlights Shell Company Status: THEGLOBE COM INC is currently a shell company with no material operations or assets since the sale of its Tralliance business in 2008. The company primarily incurs expenses related to being a public entity, such as accounting, legal, and audit costs. Operational Expenses: The company's general and administrative expenses have increased due to higher accounting and legal costs, totaling approximately $42,000 for the second quarter of 2024 compared to $28,000 for the same period in 2023. Related Party Transactions: The company continues to rely on funding from its majority stockholder, Delfin, which has provided loans to cover operating expenses. Interest expenses related to these loans have increased due to additional borrowings. Future Outlook: Management anticipates continued funding from Delfin over the next twelve months as it determines the company's future direction. However, there is substantial doubt about the company's ability to continue as a going concern without additional capital or creditor forbearance. Management's Plans: The company intends to continue operating as a public entity and making requisite filings under the Exchange Act, despite its current financial challenges. SEC Filing:

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