Cannaisseur Group Inc. Files Q3 2024 10-Q

TL;DR

Cannaisseur Group Inc. filed its 10-Q for Q3 2024. Financials and operations update.

AI Summary

Cannaisseur Group Inc. filed its 10-Q for the quarterly period ended September 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 third quarter of 2024.

Risk Assessment

Risk Level: low — This is a routine quarterly filing and does not inherently present new risks.

Key Numbers

• 000-56664 — SEC File Number (Identifies the company's filings with the SEC.)
• 86-1907561 — IRS Employer Identification No. (Company's tax identification number.)

Key Players & Entities

• Cannaisseur Group Inc. (company) — Registrant
• September 30, 2024 (date) — Quarterly period end date
• 20241119 (date) — Filing date
• Delaware (jurisdiction) — State of incorporation
• Atlanta, GA (location) — Principal executive offices location
• 404-254-2100 (phone_number) — Registrant's telephone number

FAQ

Key Financial Figures

• $0.0001 — ember 8, 2024: Common Stock, par value $0.0001 44,229,224 The Cannaisseur Group, In

Filing Documents

• tcgi20240930_10q.htm (10-Q) — 746KB
• ex_725691.htm (EX-10.7) — 82KB
• ex_743589.htm (EX-31.1) — 11KB
• ex_743590.htm (EX-31.2) — 11KB
• ex_743591.htm (EX-32.1) — 8KB
• 0001185185-24-001155.txt ( ) — 3667KB
• tcgi-20240930.xsd (EX-101.SCH) — 26KB
• tcgi-20240930_cal.xml (EX-101.CAL) — 27KB
• tcgi-20240930_def.xml (EX-101.DEF) — 139KB
• tcgi-20240930_lab.xml (EX-101.LAB) — 227KB
• tcgi-20240930_pre.xml (EX-101.PRE) — 146KB
• tcgi20240930_10q_htm.xml (XML) — 324KB

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 September 30, December 31, 2024 2023 ASSETS Current Assets: Cash $ 532 $ 38,390 Accounts receivable 285 - Inventory 2,141 5,303 Total current assets 2,958 43,693 TOTAL ASSETS $ 2,958 $ 43,693 LIABILITIES AND STOCKHOLDERS' DEFICIT Current Liabilities: Accounts payable and accrued expenses 92,301 47,918 Settlement payable 9,501 15,001 Notes payable, current portion 6,534 6,377 Dividends payable 1,608 1,608 Total current liabilities 109,944 70,904 Long term notes payable, less current portion 25,626 25,783 Convertible notes payable 86,000 40,000 Total long term liabilities 111,626 65,783 TOTAL LIABILITIES 221,570 136,687 Mezzanine Equity 37,875 37,875 Stockholders' Equity (Deficit) Common stock, $ 0.0001 par value, 100,000,000 shares authorized, 44,229,224 and 42,547,484 shares issued and outstanding as of September 30, 2024 and December 31, 2023, respectively 4,422 4,254 Additional paid in capital 1,470,915 414,783 Accumulated deficit ( 1,624,543 ) ( 445,538 ) Minority interest ( 107,281 ) ( 104,368 ) Total Stockholders' Deficit ( 256,487 ) ( 130,869 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 2,958 $ 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 Nine Months Ended September 30, September 30, 2024 2023 2024 2023 Revenue, net of discounts 285 17,238 700 52,751 Cost of revenue 668 6,696 3,162 21,305 Gross profit ( 383 ) 10,542 ( 2,462 ) 31,446 Operating Expenses Selling, general and administrative expenses 20,953 65,019 1,174,730 161,059 Total operating expenses 20,953 65,019 1,174,730 161,059 Operati

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View this 10-Q filing on SEC EDGAR