Digital Brand Media & Marketing Group, Inc. Files 10-Q for Period Ended November 30, 2023

TL;DR

<b>Digital Brand Media & Marketing Group, Inc. has filed its quarterly report for the period ending November 30, 2023, confirming its operational status and compliance with SEC filing requirements.</b>

AI Summary

Digital Brand Media & Marketing Group, Inc. (DBMM) filed a Quarterly Report (10-Q) with the SEC on January 16, 2024. The filing is a quarterly report (10-Q) for the period ended November 30, 2023. Digital Brand Media & Marketing Group, Inc. is incorporated in Florida and headquartered in New York. The company's common stock trades under the symbol DBMM on OTC Markets. The filing confirms the company is not a shell company. The company has submitted all required reports for the preceding 12 months and the past 90 days.

Why It Matters

For investors and stakeholders tracking Digital Brand Media & Marketing Group, Inc., this filing contains several important signals. This 10-Q filing provides investors with an update on the company's financial performance and operational status for the most recent quarter. As a smaller reporting company, this filing is crucial for understanding the current financial health and strategic direction of Digital Brand Media & Marketing Group, Inc.

Risk Assessment

Risk Level: low — Digital Brand Media & Marketing Group, Inc. shows low risk based on this filing. The filing is a standard quarterly report and does not contain immediate red flags, but detailed financial analysis would be required for a full risk assessment.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess revenue, expenses, and cash flow for the quarter.

Key Numbers

• November 30, 2023 — Quarterly Period End Date (The report covers the period ending on this date.)
• 000-52838 — Commission File Number (SEC file number for the registrant.)
• DBMM — Trading Symbol (Symbol for Digital Brand Media & Marketing Group, Inc. common stock.)
• Smaller Reporting Company — Company Classification (Indicates the filer's size category for reporting purposes.)

Key Players & Entities

• Digital Brand Media & Marketing Group, Inc. (company) — Filer name
• November 30, 2023 (date) — Quarterly period ended
• 000-52838 (other) — Commission file number
• DBMM (company) — Trading Symbol
• OTC Markets (company) — Exchange where common stock is registered
• Florida (location) — State of incorporation
• New York (location) — Address of principal executive offices
• 59-3666743 (other) — IRS Employer Identification No.

FAQ

Industry Context

The company operates in the business services sector, specifically digital brand media and marketing.

Regulatory Implications

The filing is made pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, requiring quarterly reporting.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and cash flow.
2. Examine any Management's Discussion and Analysis (MD&A) for insights into business operations and outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2023-11-30: Quarterly Period End — Marks the end of the reporting period for the 10-Q filing.
• 2024-01-16: Filing Date — Date the 10-Q report was officially filed with the SEC.

Year-Over-Year Comparison

This is the 10-Q filing for the period ended November 30, 2023. Previous filings would provide comparative financial data.

Key Financial Figures

• $0.001 — ange on which registered Common Stock, $0.001 par value DBMM OTC Markets Indica

Filing Documents

• dbmm20231130_10q.htm (10-Q) — 564KB
• ex_610182.htm (EX-31.1) — 12KB
• ex_610183.htm (EX-32.1) — 5KB
• dbmm20231130_10qimg001.jpg (GRAPHIC) — 15KB
• dbmm20231130_10qimg002.jpg (GRAPHIC) — 10KB
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• dbmm20231130_10qimg008.jpg (GRAPHIC) — 34KB
• dbmm20231130_10qimg009.jpg (GRAPHIC) — 15KB
• dbmm20231130_10qimg011.jpg (GRAPHIC) — 18KB
• dbmm20231130_10qimg012.jpg (GRAPHIC) — 24KB
• dbmm20231130_10qimg013.jpg (GRAPHIC) — 35KB
• dbmm20231130_10qimg014.jpg (GRAPHIC) — 26KB
• dbmm20231130_10qimg015.jpg (GRAPHIC) — 13KB
• 0001185185-24-000075.txt (&nbsp;) — 3649KB
• dbmm-20231130.xsd (EX-101.SCH) — 36KB
• dbmm-20231130_cal.xml (EX-101.CAL) — 25KB
• dbmm-20231130_def.xml (EX-101.DEF) — 126KB
• dbmm-20231130_lab.xml (EX-101.LAB) — 260KB
• dbmm-20231130_pre.xml (EX-101.PRE) — 136KB
• dbmm20231130_10q_htm.xml (XML) — 247KB

CONDENSED CONSOLIDATED FINANCIAL INFORMATION - UNAUDITED

PART I. CONDENSED CONSOLIDATED FINANCIAL INFORMATION - UNAUDITED

Consolidated Financial Statements

Item 1. Consolidated Financial Statements 3 Consolidated Balance Sheets as of November 30, 2023 (unaudited) and August 31, 2023 (audited) 3 Consolidated Statements of Operations and Comprehensive Loss for the Three months ended November 30, 2023 and 2022 (unaudited) 4 Consolidated Statements of Changes in Stockholders' Deficit for the Three months ended November 30, 2023 and 2022 (unaudited) 5 Consolidated Statements of Cash Flows for the Three months ended November 30, 2023 and, 2022 (unaudited) 6 Notes to Unaudited Consolidated Financial Statements 7

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

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 15

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 35

Controls and Procedures

Item 4. Controls and Procedures 35

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 36

Risk Factors

Item 1A. Risk Factors 36

Unregistered Sale of Equity Securities and Use of Proceeds

Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 36

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 36

Submission of Matters to a Vote of Security Holders

Item 4. Submission of Matters to a Vote of Security Holders 36

Other Information

Item 5. Other Information 36

Exhibits

Item 6. Exhibits 36

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS DIGITAL BRAND MEDIA & MARKETING GROUP, INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (Unaudited) (Audited) November 30, August 31, 2023 2023 ASSETS CURRENT ASSETS Cash $ 10,925 $ 44,521 Accounts receivable, net 31,586 20,739 Prepaid expenses and other current assets 470 470 Total assets $ 42,981 $ 65,730 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable and accrued expenses $ 714,851 $ 724,272 Accrued interest 1,312,921 1,189,387 Accrued compensation 1,283,436 1,313,536 Derivative liability 372,980 206,476 Loans payable, net 2,619,716 2,478,291 Officers loans payable 49,765 53,893 Convertible debentures, net 517,242 517,242 6,870,911 6,483,097 Loan payable, net of short-term portion 27,297 27,297 TOTAL LIABILITIES 6,898,208 6,510,394 STOCKHOLDERS' DEFICIT Preferred stock, Series 1, par value .001 ; authorized 2,000,000 shares; 1,995,185 , and 1,995,185 shares issued and outstanding 1,995 1,995 Preferred stock, Series 2, par value .001 ; authorized 2,000,000 shares; 0 and 0 shares issued and outstanding - - Common stock, par value .001 ; authorized 2,000,000,000 shares: 825,218,631 and 825,218,631 shares issued and outstanding 825,218 825,218 Additional paid in capital 9,813,090 9,813,090 Other comprehensive loss 36,617 51,427 Accumulated deficit ( 17,532,147 ) ( 17,136,394 ) TOTAL STOCKHOLDERS' DEFICIT $ ( 6,855,227 ) $ ( 6,444,664 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 42,981 $ 65,730 See Notes to Unaudited Consolidated Financial Statements. 3 DIGITAL BRAND MEDIA & MARKETING GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS For the Three Months Ended November 30, 2023 2022 (Unaudited) (Unaudited) Revenues $ 85,550 $ 54,531 Cost of revenues 74,3

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View this 10-Q filing on SEC EDGAR