Bespoke Extracts Files Q3 2024 10-Q

TL;DR

Bespoke Extracts (BESK) filed its 10-Q for Q3 2024. Check financials.

AI Summary

Bespoke Extracts, Inc. filed its 10-Q for the quarterly period ended September 30, 2024. The company, formerly known as DiMi Telematics International, Inc., is incorporated in Nevada and operates in the Pharmaceutical Preparations sector. Its principal executive offices are located in Aurora, Colorado.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for Bespoke Extracts, Inc. for the third quarter of 2024.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial information, not indicating immediate operational or financial distress.

Key Players & Entities

• Bespoke Extracts, Inc. (company) — Registrant
• September 30, 2024 (date) — Quarterly period end date
• DiMi Telematics International, Inc. (company) — Former company name
• 20241113 (date) — Filing date
• 000-52759 (dollar_amount) — Commission File Number

FAQ

Key Financial Figures

• $0.001 — he registrant's common stock, par value $0.001. TABLE OF CONTENTS Page No. PART I

Filing Documents

• ea0220242-10q_bespoke.htm (10-Q) — 500KB
• ea022024201ex31-1_bespoke.htm (EX-31.1) — 11KB
• ea022024201ex32-1_bespoke.htm (EX-32.1) — 4KB
• 0001213900-24-097597.txt ( ) — 4126KB
• bspk-20240930.xsd (EX-101.SCH) — 38KB
• bspk-20240930_cal.xml (EX-101.CAL) — 32KB
• bspk-20240930_def.xml (EX-101.DEF) — 247KB
• bspk-20240930_lab.xml (EX-101.LAB) — 401KB
• bspk-20240930_pre.xml (EX-101.PRE) — 248KB
• ea0220242-10q_bespoke_htm.xml (XML) — 324KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION 1 Item 1.

Financial Statements

Financial Statements 1 Item 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 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 19 Item 4

Controls and Procedures

Controls and Procedures 20

- OTHER INFORMATION

PART II - OTHER INFORMATION 21 Item 1.

Legal Proceedings

Legal Proceedings 21 Item 1A.

Risk Factors

Risk Factors 21 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 21 Item 3. Defaults Upon Senior Securities 21 Item 4. Mine Safety Disclosures 21 Item 5. Other Information 21 Item 6. Exhibits 21 i PART I

Financial Statements

Item 1. Financial Statements. Bespoke Extracts, Inc. Consolidated Balance Sheets September 30, December 31, 2024 2023 (Unaudited) Assets Current assets Cash $ 21,445 $ 6,607 Accounts receivable 46,083 45,226 Prepaid stock awards - 9,206 Prepaid expense 12,295 5,000 Inventory, net 44,227 15,800 Total current assets 124,050 81,839 Furniture and equipment, net 33,959 40,979 License 10,000 10,000 Right of Use Asset 158,006 209,542 Deposits 12,000 12,000 Total assets $ 338,015 $ 354,360 Liabilities and Stockholders' Equity Current liabilities Accounts payable and accrued liabilities $ 1,446,989 $ 961,255 Note payable 25,000 - Notes payable -- secured (Net of discount of $ 14,606 ) 120,394 - Advances-related party 61,872 53,372 Operating lease liability 73,523 64,330 Total current liabilities 1,727,778 1,078,957 Note payable - related party 849,500 849,500 Long-Term Operating Lease Liability 90,138 150,460 Total liabilities 2,667,416 2,078,917 Commitments and contingencies (Note 10) Stockholders' Deficit Preferred stock, par value $ 0.001 , 50,000,000 shares authorized, 1 share issued and outstanding as of September 30, 2024 and December 31,2023, respectively - - Series C Convertible Preferred Stock, $ 0.001 par value, 1 share designated; 1 share issued and outstanding as of September 30, 2024 and December 31, 2023, respectively, stated value $ 24,000 . - - Common stock, $ 0.001 par value: 3,000,000,000 authorized; 11,123,220 and 9,946,067 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 11,121 10,166 Common stock to issue 6,478 shares - - Additional paid-in capital 23,876,745 23,631,918 Accumulated deficit ( 26,217,267 ) ( 25,366,641 ) Total stockholders' deficit ( 2,329,401 ) ( 1,724,557 ) Total liabilities and stockholders' deficit $ 338,015 $ 354,360 The accompanying notes are an integral part of

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS SEPTEMBER 30, 2024 (Unaudited) 1. NATURE OF OPERATIONS, SIGNIFICANT ACCOUNTING POLICIES AND GOING CONCERN Nature of Business Operations Bespoke Extracts, Inc. (the "Company") is a Nevada corporation focused on operating in the regulated cannabis markets in the United States. Through Bespoke Extracts Colorado, LLC ("Bespoke Colorado"), we operate a marijuana infused products production facility in Aurora, Colorado. On December 2, 2021, Bespoke Colorado, a newly formed wholly-owned subsidiary of the Company entered into an asset purchase agreement with WonderLeaf, LLC ("WonderLeaf"), and on December 7, 2021, Bespoke Colorado and WonderLeaf entered into an amendment to such asset purchase agreement (as amended, the "WonderLeaf Purchase Agreement"). On January 3, 2023, the Company completed the acquisition of the WonderLeaf assets and the change of control was approved by the Colorado Marijuana Enforcement Division for 222,223 shares of common stock valued at $ 50,000 , or $ 0.225 per share. At the time of acquisition WonderLeaf had no operations, no employees and was not considered a business. Principles of Consolidation The accompanying condensed consolidated unaudited financial statements include the accounts of Bespoke Extracts, Inc., and its wholly owned subsidiary Bespoke Extracts Colorado, LLC. All inter-company balances have been eliminated. Going Concern The accompanying consolidated financial statements have been prepared assuming a continuation of the Company as a going concern. The Company had negative cash flows from operations of $ 153,662 for the nine months ended September 30, 2024, and a working capital deficit of $ 1,603,728 and accumulated deficit of $ 26,217,267 , as of September 30, 2024. This raises substantial doubt about our ability to continue as a going concern for a period of one year from the date of these financial statements. The Company's ability to continue as a going concern

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View this 10-Q filing on SEC EDGAR