Marquie Group, Inc. Files 10-Q for Period Ending February 29, 2024

TL;DR

<b>Marquie Group, Inc. has filed its 10-Q report for the quarter ending February 29, 2024, detailing its financial performance and business operations.</b>

AI Summary

Marquie Group, Inc. (TMGI) filed a Quarterly Report (10-Q) with the SEC on April 22, 2024. The Marquie Group, Inc. filed a 10-Q report for the period ending February 29, 2024. The company's fiscal year ends on May 31. The filing covers the third quarter of the fiscal year. The company was formerly known as ZHONG SEN INTERNATIONAL TEA Co and MUSIC OF YOUR LIFE INC. The business address is located in Las Vegas, NV.

Why It Matters

For investors and stakeholders tracking Marquie Group, Inc., this filing contains several important signals. This filing provides investors with an update on the company's financial health and operational status for the specified quarter. Understanding the details within this 10-Q is crucial for assessing the company's performance and making informed investment decisions.

Risk Assessment

Risk Level: low — Marquie Group, Inc. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial changes or disclosures that would indicate high risk.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to understand the company's performance trends.

Key Players & Entities

• Marquie Group, Inc. (company) — Filer name
• TMGI (company) — Ticker symbol
• 2024-02-29 (date) — Period of report
• 2024-04-22 (date) — Filing date
• Las Vegas, NV (location) — Business 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, as indicated by its SIC code 4832.

Regulatory Implications

The filing is a standard 10-Q report under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and other key metrics.
2. Review the Management's Discussion and Analysis (MD&A) section for insights into operational performance and future outlook.
3. Check for any new risk factors or updates to existing ones disclosed in the filing.

Key Dates

• 2024-02-29: Quarter End — End of the reporting period for the 10-Q filing.
• 2024-04-22: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is a 10-Q filing for the period ending February 29, 2024. Specific comparative data from the previous filing (likely a 10-Q for the period ending November 30, 2023, or a 10-K for the fiscal year ending May 31, 2023) is not detailed in this header information.

Key Financial Figures

• $0.0001 — 024, there were 1,410,789,824 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 $ 668,817 $ 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) 19,973 17,412 Con
• $6,845 — e on April 10, 2024, net of discount of $6,845 and $52,586, respectively (F) 54,255
• $52,586 — 10, 2024, net of discount of $6,845 and $52,586, respectively (F) 54,255 8,514 Conv
• $25,021 — on August 15, 2024, net of discount of $25,021 and $-0-, respectively (J) 16,979 –
• $1,932 — September 18, 2024, net of discount of $1,932 and $-0-, respectively (K) 1,569 –
• $27,039 — on January 18, 2025, net of discount of $27,039 and $-0-, respectively (L) 3,516 –

Filing Documents

• marquie_i10q-022924.htm (10-Q) — 604KB
• marquie_ex3101.htm (EX-31.1) — 12KB
• marquie_ex3201.htm (EX-32.1) — 4KB
• 0001683168-24-002554.txt (&nbsp;) — 3319KB
• tmgi-20240229.xsd (EX-101.SCH) — 34KB
• tmgi-20240229_cal.xml (EX-101.CAL) — 37KB
• tmgi-20240229_def.xml (EX-101.DEF) — 73KB
• tmgi-20240229_lab.xml (EX-101.LAB) — 237KB
• tmgi-20240229_pre.xml (EX-101.PRE) — 187KB
• marquie_i10q-022924_htm.xml (XML) — 468KB

: 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 19

: Quantitative and Qualitative Disclosures about Market Risk

Item 3: Quantitative and Qualitative Disclosures about Market Risk 22

: Controls and Procedures

Item 4: Controls and Procedures 23

: OTHER INFORMATION

PART II: OTHER INFORMATION

: Legal Proceedings

Item 1: Legal Proceedings 24

: Risk Factors

Item 1A: Risk Factors 24

: Unregistered Sales of Equity Securities and Use of Proceeds

Item 2: Unregistered Sales of Equity Securities and Use of Proceeds 24

: Defaults Upon Senior Securities

Item 3: Defaults Upon Senior Securities 24

: Mine Safety Disclosures

Item 4: Mine Safety Disclosures 24

: Other Information

Item 5: Other Information 24

: Exhibits

Item 6: Exhibits 25

- 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 February 29, May 31, 2024 2023 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 2,162 $ – Total Current Assets 2,162 – OTHER ASSETS Investment in Acquisition 6,200,000 6,200,000 Loans receivable, related party 35,237 28,247 Music inventory, net of accumulated depreciation of $ 21,386 and $ 20,719 , respectively 882 929 Trademark costs 11,165 10,365 Total Other Assets 6,247,284 6,239,541 TOTAL ASSETS $ 6,249,446 $ 6,239,541 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Bank overdraft $ – $ 46 Accounts payable 70,658 50,664 Accrued interest payable on notes payable 834,846 578,017 Accrued consulting fees, related parties 1,105,367 925,367 Accrued consulting fees 220,550 220,550 Notes payable, net of debt discounts of $ 60,837 and $ 66,794 , respectively 1,546,330 1,465,138 Notes payable to related parties 2,082,015 2,090,772 Derivative liability 603,138 1,035,998 Total Current Liabilities 6,462,904 6,366,552 TOTAL LIABILITIES 6,462,904 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, 1,410,789,824 and 756,612,000 shares issued and outstanding, respectively 141,080 75,663 Common stock payable - 1 share 8,460 8,460 Additional paid-in-capital 14,575,002 14,486,896 Accumulated deficit ( 14,938,000 ) ( 14,698,030 ) Total Stockholders' Deficit ( 213,458 ) ( 127,011 ) TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 6,249,446 $ 6,239,541 The accompanying notes are an integral part of these financial statements 3 THE MARQUIE GROUP, INC. (formerly Music of Your Life, Inc.) Consolidated Statements of Operations (Unaudited) For the Three Months Ended

Financial Statements

Financial Statements February 29, 2024 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 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 t

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