Marquie Group, Inc. Files 10-Q for Period Ending November 30, 2023

TL;DR

<b>Marquie Group, Inc. (TMGI) filed its quarterly report (10-Q) for the period ending November 30, 2023, detailing its financial position and operational updates.</b>

AI Summary

Marquie Group, Inc. (TMGI) filed a Quarterly Report (10-Q) with the SEC on January 22, 2024. Marquie Group, Inc. filed a 10-Q for the period ending November 30, 2023. The company's fiscal year ends on May 31. The filing covers the second quarter of fiscal year 2024. Previous company names include ZHONG SEN INTERNATIONAL TEA Co and MUSIC OF YOUR LIFE INC. The business and mailing address is 3225 MCLEOD DRIVE, SUITE 100, LAS VEGAS, NV 89103.

Why It Matters

For investors and stakeholders tracking Marquie Group, Inc., this filing contains several important signals. This 10-Q filing provides investors with the latest financial performance and operational status of Marquie Group, Inc. for the second quarter of fiscal year 2024. Understanding the company's financial health and any changes in its business structure, as detailed in this report, is crucial for current and potential investors to make informed decisions.

Risk Assessment

Risk Level: low — Marquie Group, Inc. shows low risk based on this filing. The filing is a standard 10-Q, providing routine financial updates without immediate indicators of significant financial distress or major positive developments.

Analyst Insight

Review the detailed financial statements within the 10-Q to assess revenue trends, profitability, and any changes in debt or equity structure.

Key Numbers

• 2023-11-30 — Reporting Period End Date (10-Q filing)
• 2024-01-22 — Filing Date (10-Q filing)
• 0531 — Fiscal Year End (Company fiscal year)
• 2024 — Fiscal Quarter (Q2 of fiscal year 2024)

Key Players & Entities

• Marquie Group, Inc. (company) — Filer name
• TMGI (company) — Ticker symbol
• 10-Q (document) — Form type
• 2023-11-30 (date) — Reporting period end date
• 2024-01-22 (date) — Filing date
• 3225 MCLEOD DRIVE, SUITE 100, LAS VEGAS, NV 89103 (address) — Business and mailing address
• ZHONG SEN INTERNATIONAL TEA Co (company) — Former company name
• MUSIC OF YOUR LIFE INC (company) — Former company name

FAQ

Industry Context

Marquie Group, Inc. operates in the Radio Broadcasting Stations industry (SIC code 4832). This filing provides insights into its performance within this sector.

Regulatory Implications

As a publicly traded company, Marquie Group, Inc. is subject to SEC regulations, including the requirement to file quarterly reports (10-Q) to disclose financial and operational information.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and cash flow for the reported period.
2. Investigate any changes in the company's capital structure, such as preferred stock, common stock, and retained earnings.
3. Research the company's historical filings to understand its business evolution, including past name changes.

Key Dates

• 2024-01-22: 10-Q Filing — Submission of the quarterly report for the period ending November 30, 2023.

Year-Over-Year Comparison

This is the 10-Q filing for the period ending November 30, 2023. Specific comparative financial data from the previous filing period (e.g., August 31, 2023, or November 30, 2022) is not detailed in the provided header information.

Key Financial Figures

• $0.0001 — 2024, there were 825,569,220 shares of $0.0001 par value common stock, issued and outs
• $10,000 — March 1, 2017 – monthly compensation of $10,000 to May 31, 2022, increased to $20,000 a
• $20,000 — f $10,000 to May 31, 2022, increased to $20,000 after May 31, 2022 $ 608,817 $ 488,81
• $15,000 — gust 16, 2018 – monthly compensation of $15,000 (which was terminated May 31, 2021) 30
• $5,000 — ber 30, 2019) – monthly compensation of $5,000 to November 30, 2019 131,350 131,350
• $1,000 — ber 30, 2019) – monthly compensation of $1,000 to November 30, 2019 48,000 48,000
• $2,500 — e to a family trust, stated interest of $2,500, due on October 31, 2015, in default (E
• $85,233 — in default, net of discount of $-0- and $85,233, respectively (SS) 154,764 154,764
• $1,065 — e 10, 2023, net of discount of $-0- and $1,065, respectively (AA) – 37,815 Convert
• $13,143 — in default, net of discount of $-0- and $13,143, respectively (C) 34,204 17,412 Con
• $22,036 — e on April 10, 2024, net of discount of $22,036 and $52,586, respectively (F) 39,063
• $52,586 — 0, 2024, net of discount of $22,036 and $52,586, respectively (F) 39,063 8,514 Conv
• $38,574 — on August 15, 2024, net of discount of $38,574 and $-0-, respectively (J) 3,426 –
• $2,802 — September 18, 2024, net of discount of $2,802 and $-0-, respectively (K) 698 – No
• $25,000 — On April 22, 2015, the Company issued a $25,000 Promissory Note, non-interest bearing (

Filing Documents

• marquie_i10q-113023.htm (10-Q) — 590KB
• marquie_ex3101.htm (EX-31.1) — 12KB
• marquie_ex3201.htm (EX-32.1) — 4KB
• 0001683168-24-000369.txt (&nbsp;) — 3088KB
• tmgi-20231130.xsd (EX-101.SCH) — 33KB
• tmgi-20231130_cal.xml (EX-101.CAL) — 36KB
• tmgi-20231130_def.xml (EX-101.DEF) — 69KB
• tmgi-20231130_lab.xml (EX-101.LAB) — 189KB
• tmgi-20231130_pre.xml (EX-101.PRE) — 150KB
• marquie_i10q-113023_htm.xml (XML) — 453KB

: FINANCIAL INFORMATION

PART I: FINANCIAL INFORMATION

: Financial Statements

Item 1: Financial Statements 3

: Management's Discussion and Analysis of Financial Condition and Results of Operation

Item 2: Management's Discussion and Analysis of Financial Condition and Results of Operation 16

: Quantitative and Qualitative Disclosures about Market Risk

Item 3: Quantitative and Qualitative Disclosures about Market Risk 20

: Controls and Procedures

Item 4: Controls and Procedures 20

: OTHER INFORMATION

PART II: OTHER INFORMATION

: Legal Proceedings

Item 1: Legal Proceedings 21

: Risk Factors

Item 1A: Risk Factors 21

: Unregistered Sales of Equity Securities and Use of Proceeds

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 21

: Defaults Upon Senior Securities

Item 3: Defaults Upon Senior Securities 21

: Mine Safety Disclosures

Item 4: Mine Safety Disclosures 21

: Other Information

Item 5: Other Information 21

: Exhibits

Item 6: Exhibits 21

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements THE MARQUIE GROUP, INC. (formerly Music of Your Life, Inc.) Consolidated Balance Sheets November 30, May 31, 2023 2023 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 2,433 $ – Total Current Assets 2,433 – OTHER ASSETS Investment in Acquisition, related party 6,200,000 6,200,000 Loans receivable, related party 28,247 28,247 Music inventory, net of accumulated depreciation of $ 21,165 and $ 20,719 , respectively 483 929 Trademark costs 10,365 10,365 Total Other Assets 6,239,095 6,239,541 TOTAL ASSETS $ 6,241,528 $ 6,239,541 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Bank overdraft $ – $ 46 Accounts payable 69,997 50,664 Accrued interest payable on notes payable 743,680 578,017 Accrued consulting fees 1,265,917 1,145,917 Notes payable, net of debt discounts of $ 63,412 and $ 66,794 , respectively 1,478,788 1,465,138 Notes payable to related parties 2,088,047 2,090,772 Derivative liability 370,301 1,035,998 Total Current Liabilities 6,016,730 6,366,552 TOTAL LIABILITIES 6,016,730 6,366,552 STOCKHOLDERS' DEFICIT Preferred Stock, $ 0.0001 par value; 20,000,000 shares authorized, 200 and 200 shares issued and outstanding – – Common stock, $ 0.0001 par value; 50,000,000,000 shares authorized, 756,612,000 and 1,154,389,824 shares issued and outstanding, respectively 115,440 75,663 Common stock payable - 1 share 8,460 8,460 Additional paid-in-capital 14,579,962 14,486,896 Accumulated deficit ( 14,479,064 ) ( 14,698,030 ) Total Stockholders' Deficit 224,798 ( 127,011 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 6,241,528 $ 6,239,541 The accompanying notes are an integral part of these

financial statements

financial statements 3 THE MARQUIE GROUP, INC. (formerly Music of Your Life, Inc.) Consolidated Statements of Operations (Unaudited) For the Three Months Ended For the Six Months Ended November 30, November 30, 2023 2022 2023 2022 NET REVENUES $ – $ – $ – $ – OPERATING EXPENSES Salaries and Consulting fees 60,000 60,000 120,000 120,000 Professional fees 45,917 12,992 62,893 51,113 Other selling, general and administrative 60,848 10,696 61,415 12,001 Total Operating Expenses 166,765 83,688 244,308 183,114 LOSS FROM OPERATIONS ( 166,765 ) ( 83,688 ) ( 244,308 ) ( 183,114 ) OTHER INCOME (EXPENSES) Income from derivative liability 167,975 1,809,922 711,198 1,851,116 Interest expense (including amortization of debt discounts of $ 24,757 , $ 14,878 , $ 48,882 , and $ 27,493 , respectively) ( 135,326 ) ( 92,535 ) ( 247,924 ) ( 145,743 ) Total Other Income (Expenses) 32,649 1,717,387 463,274 1,705,373 LOSS BEFORE INCOME TAXES ( 134,116 ) 1,633,699 218,966 1,522,259 INCOME TAX EXPENSE – – – – NET INCOME (LOSS) $ ( 134,116 ) $ 1,633,699 $ 218,966 $ 1,522,259 BASIC AND DILUTED: Net income (loss) per common share $ ( 0.00 ) $ 0.01 $ 0.00 $ 0.01 Weighted average shares outstanding 427,583,795 292,900,441 807,957,041 301,040,848 The accompanying notes are an integral part of these financial statements 4 THE MARQUIE GROUP, INC. (formerly Music of Your Life, Inc.) Consolidated Statements of Stockholders' Deficit (Unaudited) Six Months Ended November 30, 2023 Preferred Stock Common Stock Common Stock Additional Paid-in Accumulated Total Stockholders' Shares Amount Shares Amount Payable Capital Deficit Deficit Balance, May 31, 2023 200 $ – 756,612,000 $ 75,663 $ 8,460 $ 14,486,896 $ ( 14,698,030 ) $ ( 127,011 ) Net income for the three months ended August 31, 2023 – – – – – – 353,082 353,082 Balance, August 31, 2023 200 $ – 756,

financial statements

financial statements 5 THE MARQUIE GROUP, INC. (formerly Music of Your Life, Inc.) Consolidated Statements of Cash Flows (Unaudited) For the Six Months Ended November 30, 2023 2022 CASH FLOWS FROM OPERATING ACTIVITIES: Net income $ 218,966 $ 1,522,259 Adjustments to reconcile net income to net cash used by operating activities: Depreciation of music inventory 446 778 Income from derivative liability ( 711,198 ) ( 1,851,116 ) Amortization of debt discounts 48,882 27,493 Changes in operating assets and liabilities: Accounts payable 19,333 30,914 Accrued interest payable on notes payable 197,043 111,316 Accrued consulting fees 120,000 110,700 Net Cash Used by Operating Activities ( 106,528 ) ( 47,657 ) CASH FLOWS FROM INVESTING ACTIVITIES: Payments from loans receivable, related party – ( 9,247 ) Net Cash Used by Investing Activities – ( 9,247 ) CASH FLOWS FROM FINANCING ACTIVITIES: Bank overdraft ( 46 ) – Proceeds from standby equity agreement 55,732 – Proceeds from notes payable 56,000 69,435 Repayments of notes payable to related parties ( 2,725 ) ( 12,100 ) Net Cash Provided by Financing Activities 108,961 57,335 NET INCREASE IN CASH AND CASH EQUIVALENTS 2,433 431 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD – 353 CASH AND CASH EQUIVALENTS, END OF PERIOD $ 2,433 $ 784 SUPPLEMENTAL CASH FLOW INFORMATION Cash Payments For: Interest $ – $ – Income taxes $ – $ – Non-cash investing and financing activities: Initial derivative liability charged to debt discounts $ 45,501 $ – Issuance of stock and promissory note for investment in acquisition $ – $ 6,200,000 Conversion of debt and accrued interest into common stock $ 77,111 $ 147,507 The accompanying notes are an integral part of these

financial statements

financial statements 6 THE MARQUIE GROUP, INC. (formerly Music of Your Life, Inc.) Notes to the Consolidated

Financial Statements

Financial Statements November 30, 2023 NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES AND ORGANIZATION Organization The Marquie Group, Inc. (formerly Music of Your Life, Inc.) (the "Company") was incorporated under the laws of the State of Florida on January 30, 2008 under the name of "Zhong Sen International Tea Company". From January 2008 to May 2013, the Company operated with the principal business objective of providing sales and marketing consulting services to small to medium sized Chinese tea producing companies who wished to export and distribute high quality Chinese tea products worldwide. On May 31, 2013 (the "Closing Date"), the Company entered into a Merger Agreement (the "Merger Agreement") by and among the Company, Music of Your Life, Inc., a Nevada corporation ("MYL Nevada") incorporated October 10, 2012, and Music of Your Life Merger Sub, Inc., a Utah corporation (Merger Sub), pursuant to which MYL Nevada merged with Merger Sub. As a result of the merger, MYL Nevada became a wholly owned subsidiary of the Company, and on July 26, 2013, the Company changed its name to Music of Your Life, Inc., a syndicated radio network. On May 20, 2014 the Company acquired 100% of the outstanding stock of iRadio, Inc., a Utah corporation. The Company was the surviving corporation. iRadio was an entity related to the Company by common ownership. Basis of Presentation The accompanying unaudited financial statements are presented in accordance with generally accepted accounting principles for interim financial information and the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring accruals) considered necessary in order to make the financial statements not misleading, have been included. Operating results for the

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