Digital Brand Media & Marketing Group Files 10-Q

TL;DR

DBMM filed its 10-Q for Nov 30, 2024. Financials are in.

AI Summary

Digital Brand Media & Marketing Group, Inc. filed its 10-Q for the quarterly period ended November 30, 2024. The company, formerly known as RTG Ventures Inc., is incorporated in Florida and headquartered in New York. The filing covers its operations as a business services provider.

Why It Matters

This filing provides investors with an update on the company's financial performance and operational status for the most recent quarter.

Risk Assessment

Risk Level: low — This is a standard quarterly filing providing financial updates, not indicating immediate high risk.

Key Players & Entities

• Digital Brand Media & Marketing Group, Inc. (company) — Filer of the 10-Q
• November 30, 2024 (date) — Quarterly period end date
• RTG Ventures Inc. (company) — Former company name
• 845 Third Avenue, 6th Floor, New York, NY 10022 (address) — Principal executive offices

FAQ

Key Financial Figures

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

Filing Documents

• dbmm20241130_10q.htm (10-Q) — 648KB
• ex_764392.htm (EX-31.1) — 12KB
• ex_764393.htm (EX-32.1) — 5KB
• dbmm20241130_10qimg001.jpg (GRAPHIC) — 24KB
• dbmm20241130_10qimg002.jpg (GRAPHIC) — 18KB
• dbmm20241130_10qimg003.jpg (GRAPHIC) — 19KB
• 0001185185-25-000027.txt ( ) — 3237KB
• dbmm-20241130.xsd (EX-101.SCH) — 27KB
• dbmm-20241130_cal.xml (EX-101.CAL) — 24KB
• dbmm-20241130_def.xml (EX-101.DEF) — 109KB
• dbmm-20241130_lab.xml (EX-101.LAB) — 194KB
• dbmm-20241130_pre.xml (EX-101.PRE) — 117KB
• dbmm20241130_10q_htm.xml (XML) — 263KB

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, 2024 (unaudited) and August 31, 2023 (audited) 3 Consolidated Statements of Operations and Comprehensive Loss for the Three months ended November 30, 2024 and 2023 (unaudited) 4 Consolidated Statements of Changes in Stockholders' Deficit for the Three months ended November 30, 2024 and 2023 (unaudited) 5 Consolidated Statements of Cash Flows for the Three months ended November 30, 2024 and 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 14

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 32

Controls and Procedures

Item 4. Controls and Procedures 32

OTHER INFORMATION

PART II. OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 33

Risk Factors

Item 1A. Risk Factors 33

Unregistered Sale of Equity Securities and Use of Proceeds

Item 2. Unregistered Sale of Equity Securities and Use of Proceeds 33

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 33

Submission of Matters to a Vote of Security Holders

Item 4. Submission of Matters to a Vote of Security Holders 33

Other Information

Item 5. Other Information 33

Exhibits

Item 6. Exhibits 33

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION ITEM I. FINANCIAL STATEMENTS DIGITAL BRAND MEDIA & MARKETING GROUP, INC. AND SUBSIDIARY CONSOLIDATED BALANCE SHEETS (Unaudited) (Audited) November 30, August 31, 2024 2024 ASSETS CURRENT ASSETS Cash $ 26,688 $ 49,815 Accounts receivable, net 9,249 11,010 Prepaid expenses and other current assets 614 592 Total assets 36,551 $ 61,417 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Accounts payable and accrued expenses $ 891,939 $ 812,483 Accrued interest 1,732,587 1,606,522 Accrued compensation 1,106,428 1,109,178 Derivative liability 410,142 375,792 Loans payable, net 3,227,706 3,161,226 Officers loans payable 42,969 46,040 Convertible debentures, net 517,242 517,242 7,929,013 7,628,483 Loan payable, net of short-term portion 12,071 14,105 TOTAL LIABILITIES 7,941,084 7,642,588 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 ( 8,286 ) ( 39,938 ) Accumulated deficit ( 18,536,550 ) ( 18,181,536 ) TOTAL STOCKHOLDERS' DEFICIT $ ( 7,904,533 ) $ ( 7,581,171 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 36,551 $ 61,417 See Notes to Unaudited Consolidated Financial Statements. 3 DIGITAL BRAND MEDIA & MARKETING GROUP, INC. AND SUBSIDIARIES CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) (Unaudited) For the three-months ended November 30, 2024 November 30, 2023 Revenues $ 28,973 $ 85,550 Cost of revenues

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View this 10-Q filing on SEC EDGAR