theglobe.com posts Q2 2026 loss as shell entity

Q: What were theglobe.com (TGLO) revenues and losses for Q2 2026?

theglobe.com reported no revenue for Q2 2026 and Q2 2025. Net loss was approximately $66,000 for Q2 2026 and about $57,000 for Q2 2025, reflecting public-company costs and related-party interest expense at a shell company with no operations.

Q: What is the cash position and working capital of theglobe.com (TGLO) as of June 30, 2026?

As of June 30, 2026, theglobe.com held $15,115 in cash and had current liabilities of about $1.85 million, resulting in a net working capital deficit of roughly $1.83 million. This structure contributes to substantial doubt about continuing as a going concern.

Q: How much debt does theglobe.com (TGLO) owe to its majority stockholder Delfin?

The company owes Delfin under a Promissory Note with principal of $1,304,000 at June 30, 2026. Accrued interest due to the related party totaled about $510,000, and the note is payable on demand at an interest rate of 8% per year.

Q: Does theglobe.com (TGLO) face going concern risks?

Yes. Management and auditors cite substantial doubt about the company’s ability to continue as a going concern beyond twelve months. Limited cash, a large working capital deficit, and reliance on related-party funding drive this risk, absent new debt or equity capital.

Q: Is theglobe.com (TGLO) currently operating an active business?

No. theglobe.com is a shell company with no material operations or assets since selling its last operating business in 2008. Current activities primarily involve covering customary public-company expenses such as accounting, legal, audit, and reporting obligations.

Q: How many shares of theglobe.com (TGLO) are outstanding and who controls the company?

As of August 5, 2026, theglobe.com had 441,480,473 common shares outstanding. Delfin Midstream LLC is the majority stockholder, having previously acquired about 70.9% of the company’s common stock through a stock purchase agreement.

theglobe.com, inc. remains a shell company with no material operations and reported zero revenue for the three and six months ended June 30, 2026.

Filing Impact

(High)

Filing Sentiment

(Neutral)

Form Type

10-Q

Rhea-AI Filing Summary

theglobe.com, inc. remains a shell company with no material operations and reported zero revenue for the three and six months ended June 30, 2026. The company recorded a net loss of about $66,000 for the quarter and about $124,000 for the first half of 2026, driven by public-company overhead and related-party interest expense.

Cash was $15,115 at June 30, 2026, versus $3,632 at year-end 2025, supported by continued loans from majority stockholder Delfin Midstream LLC under a demand Promissory Note with principal of $1,304,000 and accrued interest of about $510,000. Current liabilities totaled $1.85 million, resulting in a stockholders’ deficit of $1.83 million and a net working capital deficit of roughly $1.83 million.

Management and the independent auditor highlight substantial doubt about the company’s ability to continue as a going concern beyond twelve months without additional capital or continued creditor forbearance. Delfin is expected to continue funding while management evaluates future direction. Disclosure controls and procedures were assessed as effective, and there were no material changes in internal control during the quarter. Shares outstanding remained 441,480,473 with no equity issuances.

Positive

None.

Negative

Substantial doubt about going concern: management and auditors state that limited cash resources and dependence on external funding raise substantial doubt about the ability to continue as a going concern beyond the next twelve months.
Significant working capital deficit: at June 30, 2026, the company reports a net working capital deficit of approximately $1,833,000, with current liabilities far exceeding total assets.
Ongoing losses with no revenue: as a shell company, net revenue was $0, while net loss reached approximately $124,000 for the first six months of 2026, adding to an accumulated deficit of about $298.9 million.

Filing Explained

Delfin support remains demand debt at 8%, while authorized shares exceed issued shares without a new equity issuance.

As of June 30, 2026, the company’s disclosed financing support remains debt from Delfin rather than a reported equity issuance: the promissory note is due upon demand and accrues 8% interest.

The note is an obligation owed to the majority stockholder, was used for expenses and working capital, and generated $84,000 of related-party loan proceeds during the six months ended June 30, 2026.

The filing lists $500,000,000 of authorized common-stock par value, representing 500,000,000 authorized shares, against 441,480,473 issued common shares; preferred stock has 3,000,000 authorized shares and none issued.

Key Figures

Cash balance: $15,115 Q2 2026 net loss: $65,778 Six-month 2026 net loss: $123,504 +5 more

8 metrics

Cash balance $15,115 Cash at June 30, 2026

Q2 2026 net loss $65,778 Net loss for three months ended June 30, 2026

Six-month 2026 net loss $123,504 Net loss for six months ended June 30, 2026

Promissory Note principal $1,304,000 Principal owed to Delfin under demand Promissory Note at June 30, 2026

Accrued related-party interest $510,135 Accrued interest due to related party at June 30, 2026

Working capital deficit $1,833,000 Approximate net working capital deficit at June 30, 2026

Shares outstanding 441,480,473 Common shares outstanding as of August 5, 2026

Accumulated deficit $298,868,590 Accumulated deficit at June 30, 2026

Key Terms

shell company, going concern, working capital deficit, Promissory Note, +2 more

6 terms

shell company regulatory

"we became a “shell company,” as that term is defined in Rule 12b-2"

A shell company is a legal entity that exists on paper but has little or no active business operations or significant assets—think of it like an empty storefront or a mailbox with a business name. Investors should care because shells can be used for legitimate purposes like simplifying a merger, but they also carry higher risks: unclear value, limited revenue or disclosure, potential for fraud, and sudden price swings when a real business is introduced or hidden liabilities surface.

going concern financial

"These reasons raise substantial doubt about the Company’s ability to continue as a going concern"

Going concern is the accounting assumption that a company will keep operating and meeting its obligations for the foreseeable future. The phrase matters most when a company or its auditors disclose substantial doubt about it, a formal warning that the business may not have enough resources to continue without raising money, restructuring, or selling assets. That language in a filing or press release signals elevated financial risk.

working capital deficit financial

"At June 30, 2026, the Company had a net working capital deficit of approximately $1,833,000"

A working capital deficit occurs when a company's short-term obligations—like bills, supplier payments and near-term debt—are larger than its readily available short-term resources such as cash, money expected from customers, and inventory that can be sold. Like a household whose monthly bills exceed its checking account, it signals potential difficulty paying immediate expenses, which matters to investors because it raises the chance the company will need outside financing or cut operations, affecting risk and value.

Promissory Note financial

"In March 2018, the Company executed a promissory note with Delfin for $50,000 (as amended and restated from time to time, the “Promissory Note”)"

A promissory note is a written IOU in which one party promises to pay a specific sum, often with interest, to another party by a set date or on demand. Investors care because it functions like a loan: it creates a legal claim on future cash flows, carries credit and timing risk, and can affect valuation or liquidity—think of it as a formal, tradable promise to be repaid that can be assessed like any other debt investment.

disclosure controls and procedures regulatory

"We maintain disclosure controls and procedures that are designed to ensure"

Policies, routines and internal checks a public company uses to identify, collect and verify information that must appear in its financial reports and public filings, and to make sure that material news is disclosed accurately and on time. Investors care because effective controls increase confidence that the company’s reported numbers and disclosures are reliable and reduce the risk of surprises, much like a building’s inspection and alarm system helps occupants trust the structure’s safety.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What were theglobe.com (TGLO) revenues and losses for Q2 2026?

theglobe.com reported no revenue for Q2 2026 and Q2 2025. Net loss was approximately $66,000 for Q2 2026 and about $57,000 for Q2 2025, reflecting public-company costs and related-party interest expense at a shell company with no operations.

What is the cash position and working capital of theglobe.com (TGLO) as of June 30, 2026?

As of June 30, 2026, theglobe.com held $15,115 in cash and had current liabilities of about $1.85 million, resulting in a net working capital deficit of roughly $1.83 million. This structure contributes to substantial doubt about continuing as a going concern.

How much debt does theglobe.com (TGLO) owe to its majority stockholder Delfin?

The company owes Delfin under a Promissory Note with principal of $1,304,000 at June 30, 2026. Accrued interest due to the related party totaled about $510,000, and the note is payable on demand at an interest rate of 8% per year.

Does theglobe.com (TGLO) face going concern risks?

Yes. Management and auditors cite substantial doubt about the company’s ability to continue as a going concern beyond twelve months. Limited cash, a large working capital deficit, and reliance on related-party funding drive this risk, absent new debt or equity capital.

Is theglobe.com (TGLO) currently operating an active business?

No. theglobe.com is a shell company with no material operations or assets since selling its last operating business in 2008. Current activities primarily involve covering customary public-company expenses such as accounting, legal, audit, and reporting obligations.

How many shares of theglobe.com (TGLO) are outstanding and who controls the company?

As of August 5, 2026, theglobe.com had 441,480,473 common shares outstanding. Delfin Midstream LLC is the majority stockholder, having previously acquired about 70.9% of the company’s common stock through a stock purchase agreement.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/14/2026 - 12:10 PM Accepted by SEC EDGAR 08/14/2026 - 12:09 PM

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

Form 10-Q

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2026

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

FOR THE TRANSITION PERIOD FROM TO .

COMMISSION FILE NUMBER: 0-25053

THEGLOBE.COM, INC.

(EXACT NAME OF REGISTRANT AS SPECIFIED IN ITS CHARTER)


STATE OF DELAWARE		14-1782422
(STATE OR OTHER JURISDICTION OF		(I.R.S. EMPLOYER
INCORPORATION OR ORGANIZATION)		IDENTIFICATION NO.)

14643 DALLAS PARKWAY, SUITE 650, DALLAS, TX 75254

c/o Toombs Hall and Foster

(ADDRESS OF PRINCIPAL EXECUTIVE OFFICES

(214) 369-5695

(Registrant’s telephone number, including area code)

Securities registered pursuant to Section 12(b) of the Act:


Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $.001 per share		tglo		None

Indicate by check mark whether the Registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). Yes ☐ No ☒

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “small reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.


☐	Large accelerated filer	☐ Accelerated filer
☒	Non-accelerated filer	☒ Smaller reporting company
☐	Emerging growth company

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☒ No ☐

The number of shares outstanding of the Registrant’s Common Stock, $.001 par value (the “Common Stock”) as of August 5, 2026 was 441,480,473.

Table of Contents

THEGLOBE.COM, INC.

FORM 10-Q

TABLE OF CONTENTS


PART I - FINANCIAL INFORMATION		2

ITEM 1.	FINANCIAL STATEMENTS	2
	CONDENSED BALANCE SHEETS AT JUNE 30, 2026 (UNAUDITED) AND DECEMBER 31, 2025	2
	UNAUDITED CONDENSED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025	3
	UNAUDITED CONDENSED STATEMENTS OF STOCKHOLDERS’ DEFICIT FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025	4
	UNAUDITED CONDENSED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025	5
	NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS	6
ITEM 2.	MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS	9
ITEM 3.	QUANTITATIVE AND QUALITATIVE DISCLOSURE ABOUT MARKET RISK	13
ITEM 4.	CONTROLS AND PROCEDURES	13

PART II - OTHER INFORMATION		14

ITEM 1.	LEGAL PROCEEDINGS	14
ITEM 2.	UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS	14
ITEM 3.	DEFAULTS UPON SENIOR SECURITIES	14
ITEM 4.	MINE SAFETY DISCLOSURES	14
ITEM 5.	OTHER INFORMATION	14
ITEM 6.	EXHIBITS	15

SIGNATURES		16

Table of Contents

PART I - FINANCIAL INFORMATION

ITEM 1. CONDENSED FINANCIAL STATEMENTS

THEGLOBE.COM, INC.

CONDENSED BALANCE SHEETS


	JUNE 30,		DECEMBER 31,
	2026		2025
	(Unaudited)
ASSETS
Current Assets:
Cash	$	15,115	$	3,632
Total current assets	$	15,115	$	3,632
LIABILITIES AND STOCKHOLDERS’ DEFICIT
Current Liabilities:
Accounts payable	$	12,040	$	4,113
Accrued expenses and other current liabilities		22,008		28,938
Accrued interest due to related party		510,135		460,145
Notes payable due to related party		1,304,000		1,220,000
Total current liabilities		1,848,183		1,713,196

Stockholders’ Deficit:
Common stock, $0.001 par value; 500,000,000 shares authorized; 441,480,473 shares issued at June 30, 2026 and December 31, 2025		441,480		441,480
Preferred stock, $0.001 par value; 3,000,000 shares authorized; 0 shares issued at June 30, 2026 and December 31, 2025		—		—
Additional paid in capital		296,594,042		296,594,042
Accumulated deficit		(298,868,590)		(298,745,086)
Total stockholders’ deficit		(1,833,068)		(1,709,564)
Total liabilities and stockholders’ deficit	$	15,115	$	3,632

See notes to unaudited condensed financial statements

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THEGLOBE.COM, INC.

CONDENSED STATEMENTS OF OPERATIONS


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025		2026		2025

	(UNAUDITED)				(UNAUDITED)
Net Revenue	$	—	$	—	$	—	$	—

Operating Expenses:
General and administrative		40,453		33,646		73,514		67,195
Operating Loss		(40,453)		(33,646)		(73,514)		(67,195)
Other Expense:
Related party interest expense		25,325		23,233		49,990		45,474

Loss from Operations Before Income Tax		(65,778)		(56,879)		(123,504)		(112,669)
Income Tax Provision		—		—		—		—
Loss from Operations		(65,778)		(56,879)		(123,504)		(112,669)

Net Loss	$	(65,778)	$	(56,879)	$	(123,504)	$	(112,669)

Loss Per Share:
Basic and Diluted	$	—	$	—	$	—	$	—

Weighted Average Common Shares Outstanding		441,480,473		441,480,473		441,480,473		441,480,473

See notes to unaudited condensed financial statements

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THEGLOBE.COM, INC.

CONDENSED STATEMENTS OF STOCKHOLDERS’ DEFICIT


		Six Month Period Ended June 30, 2026
		(UNAUDITED)
		Common Stock					Additional Paid-in		Accumulated
		Shares		Amount			Capital		Deficit		Total
Balance, January 1, 2026		441,480,473		$	441,480		$	296,594,042	$	(298,745,086)	$	(1,709,564)

Net Loss		—			—			—		(123,504)		(123,504)
Balance, June 30, 2026		441,480,473		$	441,480		$	296,594,042	$	(298,868,590)	$	(1,833,068)


		Six Month Period Ended June 30, 2025
		(UNAUDITED)
		Common Stock					Additional Paid-in			Accumulated
		Shares		Amount			Capital			Deficit			Total
Balance, January 1, 2025		441,480,473		$	441,480		$	296,594,042		$	(298,518,897)		$	(1,483,375)

Net Loss		—			—			—			(112,669)			(112,669)
Balance, June 30, 2025		441,480,473		$	441,480		$	296,594,042		$	(298,631,566)		$	(1,596,044)


		Three Month Period Ended June 30, 2026
		(UNAUDITED)
		Common Stock					Additional Paid-in			Accumulated
		Shares		Amount			Capital			Deficit			Total
Balance, April 1, 2026		441,480,473		$	441,480		$	296,594,042		$	(298,802,812)		$	(1,767,290)

Net Loss		—			—			—			(65,778)			(65,778)
Balance, June 30, 2026		441,480,473		$	441,480		$	296,594,042		$	(298,868,590)		$	(1,833,068)


		Three Month Period Ended June 30, 2025
		(UNAUDITED)
		Common Stock					Additional Paid-in			Accumulated
		Shares		Amount			Capital			Deficit			Total
Balance, April 1, 2025		441,480,473		$	441,480		$	296,594,042		$	(298,574,687)		$	(1,539,165)

Net Loss		—			—			—			(56,879)			(56,879)
Balance, June 30, 2025		441,480,473		$	441,480		$	296,594,042		$	(298,631,566)		$	(1,596,044)

See notes to unaudited condensed financial statements

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THEGLOBE.COM, INC.

CONDENSED STATEMENTS OF CASH FLOWS


	Six Months Ended June 30,
	2026		2025
	(UNAUDITED)		(UNAUDITED)
Cash Flows from Operating Activities
Net Loss	$	(123,504)	$	(112,669)

Adjustments to reconcile net loss to net cash used in operating activities
Changes in operating assets and liabilities

Increase in Accounts payable		7,928		413
Decrease in accrued expenses and other current liabilities		(6,931)		(7,636)
Increase in accrued interest due to related party		49,990		45,474

Net cash flows used in operating activities		(72,517)		(74,418)

Cash Flows from Financing Activities
Proceeds from related party loans		84,000		70,000
Net cash flows provided by financing activities		84,000		70,000

Net Increase/(Decrease) in Cash		11,483		(4,418)
Cash at beginning of period		3,632		23,750
Cash at end of period	$	15,115	$	19,332

See notes to unaudited condensed financial statements.

Table of Contents

THEGLOBE.COM, INC.

NOTES TO UNAUDITED CONDENSED FINANCIAL STATEMENTS

(1) ORGANIZATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

DESCRIPTION OF THEGLOBE.COM

theglobe.com, inc. (the “Company,” “theglobe,” “we” or “us”) was incorporated on May 1, 1995 and commenced operations on that date. Originally, we were an online community with registered members and users in the United States and abroad. On September 29, 2008, we consummated the sale of the business and substantially all of the assets of our subsidiary, Tralliance Corporation (“Tralliance”), to Tralliance Registry Management Company, LLC, an entity controlled by Michael S. Egan, our former Chairman and Chief Executive Officer. As a result of and on the effective date of the sale of our Tralliance business, which was our last remaining operating business, we became a “shell company,” as that term is defined in Rule 12b-2 of the Exchange Act, with no material operations or assets.

On December 20, 2017, Delfin Midstream LLC (“Delfin”) entered into a Common Stock Purchase Agreement with certain of our stockholders for the purchase of a total of 312,825,952 shares of our Common Stock, par value $0.001 per share (“Common Stock”), representing approximately 70.9% of our Common Stock (the “Purchase Agreement”).

As a shell company, our operating expenses have consisted primarily of, and we expect them to continue to consist primarily of, customary public company expenses, including personnel, accounting, financial reporting, legal, audit and other related public company costs.

As of June 30, 2026, as reflected in our accompanying condensed balance sheet, our current liabilities exceed our total assets. We prefer to avoid filing for protection under the U.S. Bankruptcy Code. However, unless we are successful in raising additional funds through the offering of debt or equity securities, we may not be able to continue to operate as a going concern beyond the next twelve months. Notwithstanding the above, we currently intend to continue operating as a public company and making all the requisite filings under the Exchange Act.

UNAUDITED INTERIM CONDENSED FINANCIAL INFORMATION

The unaudited interim condensed financial statements of the Company at June 30, 2026 and for the three and six months ended June 30, 2026 and 2025 included herein have been prepared in accordance with the instructions for Form 10-Q under the Securities Exchange Act of 1934, as amended, and Article 10 of Regulation S-X under the Securities Act of 1933, as amended. Certain information and note disclosures normally included in financial statements prepared in accordance with generally accepted accounting principles have been condensed or omitted pursuant to such rules and regulations relating to interim condensed financial statements.

In the opinion of management, the accompanying unaudited interim condensed financial statements reflect all adjustments, consisting only of normal recurring adjustments, necessary to present fairly the financial position of the Company at June 30, 2026 and the results of its operations and stockholders’ equity for the three and six months ended June 30, 2026 and 2025 and its cash flows for the six months ended June 30, 2026 and 2025. The results of operations and cash flows for such periods are not necessarily indicative of results expected for the full year or for any future period.

USE OF ESTIMATES

The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires the Company to make estimates and assumptions that affect the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period.

Table of Contents

NET INCOME PER SHARE

The Company reports basic and diluted net income per common share in accordance with FASB ASC Topic 260, “Earnings Per Share.” Basic earnings per share is computed using the weighted average number of common shares outstanding during the period. Common equivalent shares consist of the incremental common shares issuable upon the exercise of stock options (using the treasury stock method). Common equivalent shares are excluded from the calculation if their effect is anti-dilutive. There were no potentially dilutive securities and common stock equivalents for the period ended June 30, 2026.

RECENT ACCOUNTING PRONOUNCEMENTS

Management has determined that all recently issued accounting pronouncements will not have a material impact on the Company’s financial statements or do not apply to the Company’s operations.

(2) LIQUIDITY AND GOING CONCERN CONSIDERATIONS

The accompanying condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, the financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. However, for the reasons described below, Company management does not believe that cash on hand and cash flows generated internally by the Company will be adequate to fund its limited overhead and other cash requirements over the next twelve months. These reasons raise substantial doubt about the Company’s ability to continue as a going concern within one year after the date that the financial statements are issued.

Delfin, the Company’s majority stockholder, has continued to fund the Company through loans to the Company (see Note 3). At June 30, 2026, the Company had a net working capital deficit of approximately $1,833,000. Such working capital deficit included accrued expenses of approximately $22,000, accounts payable of approximately $12,000 and approximately $1,814,000 in principal and accrued interest owed under the Promissory Note (as defined in Note 3) with Delfin.

MANAGEMENT’S PLANS

Management anticipates continued funding from Delfin over the next twelve months as it determines the direction of the Company.

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(3) DEBT

In March 2018, the Company executed a promissory note with Delfin for $50,000 (as amended and restated from time to time, the “Promissory Note”), which was amended and restated several times over the years to $1,220,000, which was our balance at December 31, 2025. In January 2026 it was amended and restated to $1,256,000 and further amended in May 2026 to $1,304,000, which is our balance as of June 30, 2026. The Promissory Note is used to pay certain accrued expenses, accounts payable and to allow the Company to have working capital. Interest accrues on the unpaid principal balance at a rate of 8% per annum, calculated on a 365/366 day year, as applicable. The Promissory Note is due upon demand. It may be prepaid in whole or in any part at any time prior to demand.

(4) RELATED PARTY TRANSACTIONS

Under terms of the debt with its majority stockholder (See Note 3), the Company has recorded accrued interest of approximately $510,000 as of June 30, 2026 and approximately $460,000 as of December 31, 2025. The Company has also recorded interest expense of approximately $25,000 and $23,000 for the three months ended June 30, 2026 and 2025 and $50,000 and $45,000 for the six months ended June 30, 2026 and 2025, respectively.

(5) SUBSEQUENT EVENTS

The Company’s management evaluated subsequent events through the time of the filing of this report on Form 10-Q. The Company’s management is not aware of any significant events that occurred subsequent to the balance sheet date but prior to the filing of this report that would have a material impact on its financial statements.

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

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:

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our need for additional equity and debt capital financing to continue as a going concern, and the sources of such capital;

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our estimates with respect to our ability to continue as a going concern;

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matters related to our anticipated funding from Delfin;

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our beliefs regarding the effects of inflation on our results of operations;

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the continued forbearance of certain related parties from making demand for payment under certain contractual obligations of, and loans to, the Company; and

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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 “Risk Factors” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. The most important factors that could prevent us from achieving our goals, and cause the assumptions underlying forward- looking statements and the actual results to differ materially from those expressed in or implied by those forward-looking statements include, but are not limited to, the following:

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our ability to raise additional and sufficient capital;

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our ability to continue to receive funding from related parties; and

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our ability to successfully estimate the impact of certain accounting and tax matters.

The following discussion should be read together in conjunction with the accompanying unaudited condensed financial statements and related notes thereto and the audited financial statements and notes to those statements contained in the Annual Report on Form 10-K for the year ended December 31, 2025.

OVERVIEW

On December 20, 2017, our former Chief Executive Officer and majority stockholder, Mr. Egan entered into the Purchase Agreement with Delfin for the purchase by Delfin of shares owned by Mr. Egan representing approximately 70.9% of our Common Stock.

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As of June 30, 2026, as reflected in our accompanying condensed balance sheet, our current liabilities exceed our total assets.

BASIS OF PRESENTATION OF CONDENSED FINANCIAL STATEMENTS; GOING CONCERN

We received a report from our independent registered public accountants, relating to our December 31, 2025 audited financial statements, containing an explanatory paragraph regarding our ability to continue as a going concern. As a shell company, our management believes that we will not be able to generate operating cash flows sufficient to fund our operations and pay our existing current liabilities. Based upon our current limited cash resources and without the infusion of additional capital and/or the continued forbearance of our creditors, our management does not believe we can operate as a going concern beyond the next twelve months. See “Future and Critical Need for Capital” section of this “Management’s Discussion and Analysis of Financial Condition and Results of Operations” for further details.

Our financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, our condensed financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should we be unable to continue as a going concern.

RESULTS OF OPERATIONS

THREE MONTHS ENDED JUNE 30, 2026, COMPARED TO THE THREE MONTHS ENDED JUNE 30, 2025

NET REVENUE. Commensurate with the sale of our Tralliance business on September 29, 2008, we became a shell company, and we have not had any material operations since then. As a result, net revenue for both the three months ended June 30, 2026 and 2025 was $0.

GENERAL AND ADMINISTRATIVE. General and administrative expenses include only customary public company expenses, including accounting, legal, audit, insurance and other related public company costs. General and administrative expenses totaled approximately $40,000 in the second quarter of 2026 as compared to approximately $34,000 for the same quarter of the prior year. This increase was due to an increase in legal and accounting fees.

RELATED PARTY INTEREST EXPENSE. Related party interest expense for the three months ended June 30, 2026, totaled approximately $25,000 compared to approximately $23,000 for the three months ended June 30, 2025. This increase consisted of interest due and payable to Delfin for additional loan amounts.

NET LOSS. Net loss for the three months ended June 30, 2026, was approximately $66,000 as compared to a net loss of approximately $57,000 for the three months ended June 30, 2025. This increase was due to an increase in legal and accounting fees as well as interest expense on related party loans.

SIX MONTHS ENDED JUNE 30, 2026, COMPARED TO THE SIX MONTHS ENDED JUNE 30, 2025

GENERAL AND ADMINISTRATIVE. General and administrative expenses include only customary public company expenses, including accounting, legal, audit, insurance and other related public company costs. General and administrative expenses totaled approximately $74,000 for the first six months of 2026 as compared to approximately $67,000 for the same period of the prior year. This increase was due to an increase in legal and accounting fees.

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RELATED PARTY INTEREST EXPENSE. Related party interest expense for the six months ended June 30, 2026, totaled approximately $50,000 compared to approximately $45,000 for the six months ended June 30, 2025. This increase consisted of interest due and payable to Delfin as the loan amount has increased.

NET LOSS. Net loss for the six months ended June 30, 2026, was approximately $124,000 as compared to a net loss of approximately $113,000 for the six months ended June 30, 2025. This increase was due to an increase in legal and accounting fees as well as interest expense on related party loans.

LIQUIDITY AND CAPITAL RESOURCES

CASH FLOW ITEMS

As of June 30, 2026, we had $15,115 in cash as compared to $3,632 as of December 31, 2025. Net cash flows used in operating activities totaled approximately $73,000 for the six months ended June 30, 2026, compared to net cash flows used in operating activities of $74,000 for the six months ended June 30, 2025. The net cash flows moved due to payment of expenses .

Net cash flows provided by financing activities totaled $84,000 for the six months ended June 30, 2026, compared to $70,000 for the six months ended June 30, 2025. The increase was due to an increase in funding for loans made by Delfin.

FUTURE AND CRITICAL NEED FOR CAPITAL

The accompanying condensed financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. Accordingly, the financial statements do not include any adjustments relating to the recoverability of assets and classification of liabilities that might be necessary should we be unable to continue as a going concern. However, for the reasons described below, our management does not believe that cash on hand and cash flow generated internally by us will be adequate to fund our limited overhead and other cash requirements beyond the next twelve months. These reasons raise significant doubt about our ability to continue as a going concern.

As of June 30, 2026, as reflected in our accompanying balance sheet, our current liabilities exceed our total assets. We prefer to avoid filing for protection under the U.S. Bankruptcy Code. However, unless we are successful in raising additional funds through the offering of debt or equity securities, we may not be able to continue to operate as a going concern beyond the next twelve months. Notwithstanding the above, we currently intend to continue operating as a public company and making all the requisite filings under the Exchange Act.

At June 30, 2026, the Company had a net working capital deficit of approximately $1,833,000. Such working capital deficit included accrued expenses of approximately $22,000, accounts payable of approximately $12,000 and approximately $1,814,000 in principal and accrued interest owed under the Promissory Note (as defined in Note 3) with Delfin.

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MANAGEMENT’S DISCUSSION OF CRITICAL ACCOUNTING POLICIES AND ESTIMATES

The preparation of our financial statements in conformity with accounting principles generally accepted in the United States of America requires us to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reporting period. Our estimates, judgments and assumptions are continually evaluated based on available information and experience. Because of the use of estimates inherent in the financial reporting process, actual results could differ from those estimates.

Certain of our accounting policies require higher degrees of judgment than others in their application.

At this time, management does not have any critical accounting policies or estimates to disclose.

IMPACT OF RECENTLY ISSUED ACCOUNTING STANDARDS

Management has determined that all recently issued accounting pronouncements will not have a material impact on the Company’s financial statements or do not apply to the Company’s operations.

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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 information under this item.

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 June 30, 2026. Based on that evaluation, our Chief Executive Officer and Chief Financial Officer has concluded that, as of June 30, 2026, 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 June 30, 2026, 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.

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PART II - OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

None.

ITEM 1A. RISK FACTORS

There have been no material changes to the Company’s risk factors disclosed in Part I, Item 1A. “Risk Factors” of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2025.

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, 2025, 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, 2025 are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial position, or future results of operations.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

(a)	Unregistered Sales of Equity Securities.

None.

(b)	Use of Proceeds From Sales of Registered Securities.

Not applicable.

(c)	Repurchases.

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

During the three months ended June 30, 2026, none of our officers (as defined in Rule 16a-1(f) of the Exchange Act) or directors adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

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ITEM 6. EXHIBITS

31.1		Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(a) and Rule 15d-14(a).

32.1*		Certification of the Chief Executive Officer and Chief Financial Officer pursuant to Rule 13a-14(b) and Rule 15d-14(b).

101.1NS		XBRL Instance Document - the instance document does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document.

101.SCH		XBRL Taxonomy Extension Schema Document

101.CAL		XBRL Taxonomy Extension Calculation Linkbase Document

101.LAB		XBRL Taxonomy Extension Label Linkbase Document

101.PRE		XBRL Taxonomy Extension Presentation Linkbase Document

101.DEF		XBRL Taxonomy Extension Definitions Linkbase Document

Exhibit 104		Cover Page Interactive Data File - The cover page interactive data file does not appear in the Interactive Data File because its XBRL tags are embedded within the Inline XBRL document

* Furnished herewith

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SIGNATURES

Pursuant to the requirements of Section 13 or 15(d) of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Dated: August 14, 2026	theglobe.com, inc.

	By:	/s/ Frederick Jones
		Frederick Jones
		Chief Executive Officer and Chief Financial Officer
		(Principal Executive Officer and Principal Financial Officer)

Source: View Original Filing on SEC EDGAR

theglobe.com posts Q2 2026 loss as shell entity

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