Digital Brand Media & Marketing Group, Inc. Files 10-Q for Period Ended February 29, 2024

TL;DR

<b>Digital Brand Media & Marketing Group, Inc. has filed its quarterly report (10-Q) for the period ending February 29, 2024, indicating 825,218,631 shares outstanding.</b>

AI Summary

Digital Brand Media & Marketing Group, Inc. (DBMM) filed a Quarterly Report (10-Q) with the SEC on April 15, 2024. Digital Brand Media & Marketing Group, Inc. filed a 10-Q report for the quarterly period ended February 29, 2024. The company is incorporated in Florida and its principal executive offices are located in New York, NY. As of April 15, 2024, there were 825,218,631 shares of common stock outstanding. The company is classified as a smaller reporting company and not a shell company. Common stock is traded under the symbol DBMM on OTC Markets.

Why It Matters

For investors and stakeholders tracking Digital Brand Media & Marketing Group, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial performance and operational status for the most recent quarter. The disclosure of outstanding shares is crucial for understanding potential dilution and the current market capitalization of the company.

Risk Assessment

Risk Level: low — Digital Brand Media & Marketing Group, Inc. shows low risk based on this filing. The filing is a routine quarterly report (10-Q) and does not contain significant new financial data or strategic shifts that would indicate immediate high risk.

Analyst Insight

Monitor future filings for financial performance trends and any strategic announcements from Digital Brand Media & Marketing Group, Inc.

Key Numbers

• 825,218,631 — Shares Outstanding (As of April 15, 2024)
• 000-52838 — SEC File Number (Commission file number)
• 2024-02-29 — Quarterly Period End Date (For the quarterly period ended)
• 2024-04-15 — Filing Date (Date filed)

Key Players & Entities

• Digital Brand Media & Marketing Group, Inc. (company) — Filer name
• February 29, 2024 (date) — Quarterly period ended
• 825,218,631 (dollar_amount) — Shares outstanding as of April 15, 2024
• DBMM (company) — Trading symbol
• OTC Markets (company) — Exchange where common stock is registered
• New York (company) — Address of principal executive offices
• Florida (company) — State of incorporation

FAQ

Industry Context

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

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring quarterly reports from public companies.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and management discussion.
2. Track the company's stock performance on OTC Markets under the ticker DBMM.
3. Compare this filing's data with previous periods to identify trends.

Year-Over-Year Comparison

This is the initial 10-Q filing for the period ending February 29, 2024, and no prior period data is available for comparison within this specific document.

Key Financial Figures

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

Filing Documents

• dbmm20240229_10q.htm (10-Q) — 836KB
• ex_651099.htm (EX-31.1) — 12KB
• ex_651100.htm (EX-32.1) — 5KB
• dbmm20240229_10qimg001.jpg (GRAPHIC) — 15KB
• dbmm20240229_10qimg002.jpg (GRAPHIC) — 10KB
• dbmm20240229_10qimg003.jpg (GRAPHIC) — 50KB
• dbmm20240229_10qimg004.jpg (GRAPHIC) — 16KB
• dbmm20240229_10qimg005.jpg (GRAPHIC) — 18KB
• dbmm20240229_10qimg006.jpg (GRAPHIC) — 12KB
• dbmm20240229_10qimg007.jpg (GRAPHIC) — 17KB
• dbmm20240229_10qimg008.jpg (GRAPHIC) — 33KB
• dbmm20240229_10qimg009.jpg (GRAPHIC) — 15KB
• dbmm20240229_10qimg010.jpg (GRAPHIC) — 18KB
• dbmm20240229_10qimg011.jpg (GRAPHIC) — 24KB
• dbmm20240229_10qimg012.jpg (GRAPHIC) — 35KB
• dbmm20240229_10qimg013.jpg (GRAPHIC) — 26KB
• dbmm20240229_10qimg014.jpg (GRAPHIC) — 13KB
• 0001185185-24-000387.txt (&nbsp;) — 4280KB
• dbmm-20240229.xsd (EX-101.SCH) — 38KB
• dbmm-20240229_cal.xml (EX-101.CAL) — 26KB
• dbmm-20240229_def.xml (EX-101.DEF) — 134KB
• dbmm-20240229_lab.xml (EX-101.LAB) — 245KB
• dbmm-20240229_pre.xml (EX-101.PRE) — 133KB
• dbmm20240229_10q_htm.xml (XML) — 297KB

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 February 29, 2024 (unaudited) and August 31, 2023 (audited) 3 Consolidated Statements of Operations and Comprehensive Loss for the Three months and Six months ended February 29, 2024 and 2022 (unaudited) 4 Consolidated Statements of Changes in Stockholders' Deficit for the Three months and Six months ended February 29, 2024 and 2022 (unaudited) 5 Consolidated Statements of Cash Flows for the Six months ended February 29, 2024 and February 28, 2023 (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) February 29, August 31, 2024 2023 ASSETS CURRENT ASSETS Cash $ 21,666 $ 44,521 Accounts receivable, net 26,694 20,739 Prepaid expenses and other current assets 470 470 Total assets 48,830 $ 65,730 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable and accrued expenses $ 658,143 $ 724,272 Accrued interest 1,375,760 1,189,387 Accrued compensation 1,148,077 1,313,536 Derivative liability 546,488 206,476 Loans payable, net 2,780,676 2,478,291 Officers loans payable 42,969 53,893 Convertible debentures, net 517,242 517,242 7,069,355 6,483,097 Loan payable, net of short-term portion 24,154 27,297 TOTAL LIABILITIES 7,093,509 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 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 ( 17,721,599 ) ( 17,136,394 ) TOTAL STOCKHOLDERS' DEFICIT $ ( 7,044,679 ) $ ( 6,444,664 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 48,830 $ 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 (Unaudited) (Unaudited) (Unaudited) (Unaudited) For the three-month period ended February 29 and 28, For the six-month period ended February 29 and 2

View Full Filing

View this 10-Q filing on SEC EDGAR