Theglobe.com Reports No Revenue and Increased Losses in Q2 2025

theglobe.com, Inc. reported its financial results for the second quarter of 2025, revealing a continued lack of revenue generation as the company remains classified as a shell entity following the sale of its last operating business in 2008. For the three months ended June 30, 2025, the company reported no net revenue, consistent with the same period in 2024. Operating expenses for the second quarter were approximately $33,646, a decrease from $41,850 in the prior year, primarily due to reduced spending on accounting and legal services. The net loss for the quarter was approximately $56,879, down from a loss of $62,512 in the same quarter of the previous year.

For the six-month period ending June 30, 2025, the company also reported no net revenue, mirroring the results from the first half of 2024. General and administrative expenses totaled approximately $67,195, a decrease from $72,653 year-over-year. The net loss for the first half of 2025 was approximately $112,669, slightly lower than the loss of $113,744 reported for the same period in 2024. The company continues to incur related party interest expenses, which increased to approximately $23,233 for the second quarter of 2025, compared to $20,662 in the prior year.

As of June 30, 2025, the company reported total current assets of $19,332, a decline from $23,750 at the end of 2024. Current liabilities increased to $1,615,376 from $1,507,125, resulting in a stockholders' deficit of approximately $1,596,044, compared to $1,483,375 at the end of the previous fiscal year. The company’s financial position raises concerns about its ability to continue as a going concern, as its current liabilities exceed its total assets. Management has indicated that without additional funding, the company may not be able to sustain operations beyond the next twelve months.

The company has been reliant on funding from its majority stockholder, Delfin Midstream LLC, which has provided loans to support operations. As of June 30, 2025, the principal balance owed under a promissory note with Delfin was $1,183,000, with accrued interest of approximately $412,000. Management anticipates continued support from Delfin in the near term as it evaluates the company's future direction. However, the ongoing need for capital raises significant uncertainty regarding the company's operational viability.

Looking ahead, the company acknowledges the critical need for additional capital to meet its operational requirements. Management has expressed that without successful fundraising efforts, the company may face challenges in continuing its public company status and fulfilling its financial obligations. The outlook remains cautious, with management emphasizing the importance of securing further funding to navigate the upcoming fiscal year.