TGLO debt to Delfin climbs to $1.26M as working capital deficit widens to $1.77M

Filed May 22, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 8, 2025 · ~1 min read

Key Changes

• high

  Related-party debt to Delfin increased $101K year-over-year to $1.26M principal, with total debt plus accrued interest reaching $1.74M—the company's primary funding source as a shell entity.

  MD&A: Delfin promissory note balance verify on EDGAR →
• high

  Working capital deficit widened 15% to $1.77M from $1.54M, driven by rising Delfin obligations and accounts payable jumping from $3.6K to $39K.

  MD&A: Working capital deficit verify on EDGAR →
• medium

  Operating cash burn improved 73% to $12K per quarter from $45K, though the company remains cash-flow negative and dependent on Delfin advances.

  MD&A: Operating cash burn verify on EDGAR →