Business Description
theglobe.com, inc. 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 (“Tralliance Registry Management”), 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.
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.
