Cannaisseur Group Inc. Files Q2 2024 10-Q Report
Ticker: TCRG · Form: 10-Q · Filed: Aug 16, 2024 · CIK: 1879270
| Field | Detail |
|---|---|
| Company | Cannaisseur Group Inc. (TCRG) |
| Form Type | 10-Q |
| Filed Date | Aug 16, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, cannabis-sector
TL;DR
Cannaisseur Group Inc. filed its Q2 2024 10-Q. Check financials.
AI Summary
Cannaisseur Group Inc. filed its 10-Q report for the quarterly period ended June 30, 2024. The company, incorporated in Delaware, operates in the Medicinal Chemicals & Botanical Products sector. Its principal executive offices are located in Atlanta, Georgia.
Why It Matters
This filing provides investors with an update on Cannaisseur Group Inc.'s financial performance and operational status for the second quarter of 2024.
Risk Assessment
Risk Level: low — This is a standard quarterly filing (10-Q) and does not inherently indicate new risks.
Key Players & Entities
- Cannaisseur Group Inc. (company) — Registrant
- June 30, 2024 (date) — Quarterly period end date
- Delaware (jurisdiction) — State of incorporation
- Atlanta, GA (location) — Principal executive offices
- 000-56664 (identifier) — SEC file number
FAQ
What is the primary business of Cannaisseur Group Inc.?
Cannaisseur Group Inc. operates in the Medicinal Chemicals & Botanical Products sector, as indicated by its Standard Industrial Classification code [2833].
When was the quarterly period covered by this 10-Q filing?
The quarterly period ended on June 30, 2024.
Where are Cannaisseur Group Inc.'s principal executive offices located?
The principal executive offices are located at 650 Ponce De Leon Ave Suite 300 #2334, Atlanta, GA 30308.
What is the SEC file number for Cannaisseur Group Inc.?
The SEC file number is 000-56664.
In which state was Cannaisseur Group Inc. incorporated?
Cannaisseur Group Inc. was incorporated in Delaware.
Filing Stats: 4,659 words · 19 min read · ~16 pages · Grade level 14.8 · Accepted 2024-08-16 15:10:00
Key Financial Figures
- $0.0001 — gust 12, 2024: Common Stock, par value $0.0001 44,219,224 The Cannaisseur Group, In
Filing Documents
- tcgi20240630_10q.htm (10-Q) — 701KB
- ex_712640.htm (EX-31.1) — 11KB
- ex_712641.htm (EX-31.2) — 11KB
- ex_712642.htm (EX-32.1) — 8KB
- 0001185185-24-000828.txt ( ) — 3509KB
- tcgi-20240630.xsd (EX-101.SCH) — 32KB
- tcgi-20240630_cal.xml (EX-101.CAL) — 27KB
- tcgi-20240630_def.xml (EX-101.DEF) — 152KB
- tcgi-20240630_lab.xml (EX-101.LAB) — 252KB
- tcgi-20240630_pre.xml (EX-101.PRE) — 148KB
- tcgi20240630_10q_htm.xml (XML) — 294KB
Financial Statements (Unaudited)
Financial Statements (Unaudited) 3 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 20 Item 4
Controls And Procedures
Controls And Procedures 20 PART II Other Information Item 1
Legal Proceedings
Legal Proceedings 21 Item 1A
Risk Factors
Risk Factors 21 Item 2 Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities 21 Item 3 Defaults Upon Senior Securities 21 Item 4 Mine Safety Disclosures 21 Item 5 Other Information 21 Item 6 Exhibits 21
FINANCIAL INFORMATION
PART I. FINANCIAL INFORMATION
Financial Statements
Item 1. Financial Statements The Cannaisseur Group, Inc. Condensed Consolidated Balance Sheets June 30, December 31, 2024 2023 ASSETS (unaudited) Current Assets: Cash $ 1,471 $ 38,390 Inventory 2,809 5,303 Total current assets 4,280 43,693 TOTAL ASSETS $ 4,280 $ 43,693 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued expenses 80,961 47,918 Settlement payable 9,501 15,001 Notes payable, current portion 6,374 6,377 Dividends payable 1,608 1,608 Total current liabilities 98,444 70,904 Long term notes payable, less current portion 25,786 25,783 Convertible notes payable 80,000 40,000 Total long term liabilities 105,786 65,783 TOTAL LIABILITIES 204,230 136,687 Mezzanine Equity 37,875 37,875 Stockholders' Equity (Deficit) Common stock, $ 0.0001 par value, 100,000,000 shares authorized, 44,219,224 and 42,547,484 shares issued and outstanding as of June 30, 2024 and December 31, 2023, respectively 4,421 4,254 Additional paid in capital 1,466,616 414,783 Accumulated deficit ( 1,602,210 ) ( 445,538 ) Minority interest ( 106,652 ) ( 104,368 ) Total Stockholders' Deficit ( 237,825 ) ( 130,869 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 4,280 $ 43,693 The accompanying notes are an integral part of these financial statements. 3 Table of Contents The Cannaisseur Group, Inc. Condensed Consolidated Statements of Operations (unaudited) Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Revenue, net of discounts - 19,050 415 35,513 Cost of revenue 485 4,774 2,494 14,609 Gross profit ( 485 ) 14,276 ( 2,079 ) 20,904 Operating Expenses Selling, general and administrative expenses 1,069,581 57,865 1,153,777 96,040 Total operating expenses 1,069,581 57,865 1,153,777 96,040 Operating loss ( 1,070,066 ) ( 43,589