TheGlobe.com Inc (TGLO)

[senor_c]

DD Refresher Summary: 7/16/2023

For those new to TGLO, wondering why a shell company is recently trading in the .20-.30 range, consider the information below and make your own judgements and decisions. Most of this information can be verified through links provided in the TGLO IHUB Introduction (thanks, chen!). Welcome!

Quick Facts:

-TGLO is a shell company that has no current revenues or business activity. It is a fully reporting company with filings found on EDGAR. It’s listed on the OTC Markets as Pink Current Information.

-Delfin Midstream, Inc. owns about 71% of TGLO shares, making them the majority owner and parent company of TGLO. Delfin purchased 71% of TGLO shares back in 2017, with the option to use TGLO to go public via reverse merger (RM).

-Delfin Midstream is a fully permitted LNG development company, meaning they have at least 2 major LNG projects that they are planning to execute (Delfin LNG, 4 FLNGs; and Avocet LNG, 2 FLNGs). (see https://delfinmidstream.com/)

-Delfin has 3 binding SPAs (two 15-year and one 20-year) with Vitol, Centrica, and Hartree, total worth well over 15 billion dollars over those respective time periods. Delfin also has a pending SPA (currently HOA) with Devon Energy for long-term liquefaction capacity and a pre-Financial Investment Decision strategic investment by Devon in Delfin. It’s anticipated that this HOA will convert to a SPA within the next month or two.

-Delfin also recently announced (June, 2023) that it entered into a strategic investment agreement with Mitsui O.S.K. Lines, (MOL) to accelerate making Final Investment Decision on Delfin’s first 2 FLNG vessels in 2023. MOL is a global leading shipping company, focusing on LNG infrastructure and investment.

-To move forward with the Delfin LNG project, Delfin needs to make FID (financial investment decision – an industry term that generally refers to the financial viability of the project: https://www.blackridgeresearch.com/blog/what-is-fid-final-investment-decision. Delfin CEO has stated that they have sold the off-take capacity for the first FLNG vessel and that they are on their way for the 2nd vessel.

-Delfin has loaned a total of $932,000 to maintain TGLO since it purchased the majority of TGLO’s shares in late December of 2017. In its recent annual filing, the filing stated that TGLO anticipates continued funding from Delfin over the next twelve months as it determines the direction of the company.

-Delfin recently posted several job postings for middle and upper management positions for project management and operations, expected to begin in the fall of 2023. Delfin Midstream also recently added a new CFO to their management team.


Current TGLO Share Structure (unchanged since Delfin took majority ownership):
Authorized Common: 500,000,000
Issued Common: 441,480,473
Authorized Preferred: 3,000,000
Issued Preferred: 0

Investors’ Speculation Summary:
Based on the decisions of other LNG developers such as Tellurian, Next Decade (and Delfin’s filing to purchase TGLO shares) many TGLO investors/traders speculate that Delfin plans to use TGLO to go public to assist with aspects of financing their LNG projects or use to create other incentives for private investors and/or attract and retain top talent and well connected board members (such as Oscar Spieler).

Float Speculation:
Many TGLO investors – based on due diligence by his holiness (aka XL175), Delfin insider ownership, and share price action – believe that the public float is low, below 25,000,000 shares. Through filings and an understanding of the Delfin Midstream ownership (breakdown of Delfin ownership and links found in IHUB Intro), it’s specifically believed that Talisman owns a significant amount of shares purchased on the open market in addition to shares indirectly owned through its percent of ownership of Delfin Midstream, Inc.

Delfin FLNG Vessel Ownership Speculation:
One TGLO investor (maybe the author of this – aka shill - and attending shill anonymous 12-step program) speculates that Delfin Midstream, Inc. is intentionally structuring vessel ownership through private LLCs to offer direct investment opportunities of specific projects and vessels (e.g, Devon, MOL, etc.), while creating less exposure to Delfin Midstream, Inc., allowing Delfin Midstream, Inc. insiders to retain more ownership percentage of the parent company (i.e. avoiding $NEXT’s ownership percentage missteps) once it decides to go public through merging with TGLO.

GAIL Speculation:
Several TGLO investors believe India’s GAIL is looking to Delfin to give it what it wants, which is a significant percentage in a USA LNG project. Delfin is in the position to do just that. NorthPeak22 has provided good summaries on this potential development, and if it does happen, it’s just one more massive win for Delfin.

FINAL Speculation:
All of the above confirmed facts and solid speculation based on significant DD (chose to agree or not) are partially the reason for the recent increase in share price. The Centrica news helped, but current investors and those on the sidelines are recognizing the moment: Delfin is months away from FID on at least 1 vessel and has massive backing from BIG TIME players in the energy and LNG world (Vitol, Devon, Hartree, MOL, Centrica and more are coming). If you want to have a shot at being part of the moment, you need shares. They are hard to come by these days, but many long-term investors have added well above early prices. It’s okay if you do, too. Welcome and good luck!

Some of the Expected or Upcoming News Events:
-MOL or Delfin announcement of terms or finalizing vessel deals with Samsung Heavy Industries (SHI) for Delfin LNG 1 and 2.
-Devon Energy HOA converting to SPA
-FERC or no FERC that is the question
-FID announcement within next few months
-Possible news mention of TGLO w/Delfin or R/M