Delfin Midstream LLC entered into a purchase agreement to acquire 70.9% stake in theglobe.com, inc. (OTCPK:TGLO) from Michael S. Egan, S. Jacqueline Egan, E & C Capital Partners, E&C Capital Partners II, LLLP, Dancing Bear Group and Registry Management Company, LLC for $0.03 million on December 20, 2017. Delfin Midstream will acquire 312.83 million common shares of theglobe.com, inc. Upon closing, Delfin Midstream will become a majority owner of theglobe.com, inc. The transaction is expected to be funded using Delfin's working capital. As contemplated by the purchase agreement, the current members of the theglobe.com, inc., Michael S. Egan, Chairman and Chief Executive Director, Edward A. Cespedes, President, Treasurer and Chief Financial Officer and Director, and Robin S. Lebowitz, Vice President of Finance and Director, will resign from their respective Director and officer positions with theglobe.com, inc. and William R. (Rusty) Nichols will be appointed as a Director and Executive Officer of theglobe.com, inc. The transaction is subject to conditions including delivery of documentation evidencing satisfaction of indebtedness under certain promissory notes and theglobe.com, inc.’s loan agreement with Dancing Bear; termination of the services agreement with Dancing Bear and satisfaction of accrued fees thereunder, satisfaction or waiver of accrued compensation to employees and directors; and resignation of all officers and directors of theglobe.com, inc., and appointment of William R. (Rusty) Nichols as the continuing director. The transaction is expected to close on December 31, 2017. Delfin Midstream LLC completed the acquisition of 70.9% stake in theglobe.com, inc. (OTCPK:TGLO) from Michael S. Egan, S. Jacqueline Egan, E & C Capital Partners, E&C Capital Partners II, LLLP, Dancing Bear Group and Registry Management Company, LLC on December 31, 2017.