Mycotopia Therapies Files Q2 2024 10-Q

TL;DR

Mycotopia Therapies (TPIA) filed its Q2 2024 10-Q. Check financials.

AI Summary

Mycotopia Therapies, Inc. filed its 10-Q for the period ending June 30, 2024. The company, formerly known as 20/20 Global, Inc., is incorporated in Nevada and operates in the medicinal chemicals and botanical products sector. Its principal business address is in Heyburn, Idaho.

Why It Matters

This filing provides investors with an update on Mycotopia Therapies' financial performance and operational status for the second quarter of 2024.

Risk Assessment

Risk Level: medium — As a 10-Q filing, it contains detailed financial information, but without specific financial performance data or forward-looking statements, the risk level is assessed as medium.

Key Numbers

• 20240630 — Period End Date (The end of the reporting period for this 10-Q filing.)
• 20240819 — Filing Date (The date the 10-Q was officially submitted to the SEC.)

Key Players & Entities

• Mycotopia Therapies, Inc. (company) — Filer
• 20/20 Global, Inc. (company) — Former company name
• 20190102 (date) — Date of name change
• 20240630 (date) — Period of report
• 20240819 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — g) of the Act: Common Stock, Par Value $0.001 (Title of class) Indicate by check m
• $350,000 — de for: (i) 20/20 Global's purchase for $350,000 in cash of all of the outstanding stock
• $2,000,000 — bs") for consideration of approximately $2,000,000 in exchange for the intangible assets.

Filing Documents

• tpia-20240630.htm (10-Q) — 501KB
• tpia_ex31z1.htm (EX-31.1) — 8KB
• tpia_ex32z1.htm (EX-32.1) — 4KB
• 0001096906-24-001763.txt ( ) — 2717KB
• tpia-20240630_cal.xml (EX-101.CAL) — 19KB
• tpia-20240630_def.xml (EX-101.DEF) — 62KB
• tpia-20240630_lab.xml (EX-101.LAB) — 142KB
• tpia-20240630_pre.xml (EX-101.PRE) — 136KB
• tpia-20240630.xsd (EX-101.SCH) — 35KB
• tpia-20240630_htm.xml (XML) — 368KB

—Financial Information

Part I—Financial Information 1

Financial Statements

Financial Statements 4 Condensed Consolidated Balance Sheets as of June 30, 2024 (unaudited) and December 31, 2023 4 Condensed Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) 5 Condensed Consolidated Statements of Mezzanine Equity and Stockholders' Deficit for the Three and Six Months Ended June 30, 2024 and 2023 (unaudited) 6 Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2024 and 2023 (unaudited) 7 Notes to the Unaudited Condensed Consolidated Financial Statements 8 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 16 3

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 18 4

Controls and Procedures

Controls and Procedures 19

—Other Information

Part II—Other Information 6 Exhibits 19

–FINANCIAL INFORMATION

PART I–FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS MYCOTOPIA THERAPIES, INC CONDENSED CONSOLIDATED BALANCE SHEETS AS OF JUNE 30, 2024 (UNAUDITED) AND DECEMBER 31, 2023 June 30, December 31, 2024 2023 (unaudited) ASSETS CURRENT ASSETS: Cash $ 279,905 $ 279,134 Prepaid expenses 500 - Total Current Assets 280,405 279,134 NON-CURRENT ASSETS: Property and equipment, net - 498 Intangible assets, net 1,607,664 1,939,781 TOTAL ASSETS $ 1,888,069 $ 2,219,413 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES: Accounts payable and accrued expenses $ 453,296 $ 341,358 Accrued interest 374,700 239,714 Accrued expenses – related party 720,000 576,000 Convertible note payable, net of debt discount 1,100,000 1,090,651 Notes payable – related party 165,000 - Shares to be issued 2,000,000 2,000,000 TOTAL LIABILITIES 4,812,996 4,247,723 Commitments and contingencies (Note 9 – Commitments and Contingencies) - - MEZZANINE EQUITY Preferred stock, $ 0.001 par value; 5,000,000 shares authorized; 0 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively; liquidation preference of $ 0 and $ 0 , respectively - - STOCKHOLDERS' DEFICIT Common stock, $ 0.001 par value; 100,000,000 shares authorized, 14,896,791 shares issued and outstanding as of June 30, 2024, and December 31, 2023, respectively 14,897 14,897 Additional paid in capital 6,917,774 6,917,774 Accumulated deficit ( 9,857,651 ) ( 8,960,981 ) TOTAL STOCKHOLDERS' DEFICIT ( 2,924,927 ) ( 2,028,310 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 1,888,069 $ 2,219,413 The accompanying notes are an integral part of these condensed consolidated financial statements. 4 MYCOTOPIA THERAPIES, INC CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS (Unaudited) For the Six Months Ended For the Three Months Ended June 30, June 30, 2024 2023 2024 2023 OPERATING EXPENSE G

View Full Filing

View this 10-Q filing on SEC EDGAR