Marquie Group Files Q2 10-Q

TL;DR

Marquie Group (MQBG) filed their Q2 10-Q. Radio broadcasting biz.

AI Summary

Marquie Group, Inc. filed a 10-Q for the period ending November 30, 2024. The filing covers the second quarter of their fiscal year, which ends on May 31st. The company's primary business is in radio broadcasting stations.

Why It Matters

This filing provides investors with an update on Marquie Group's financial performance and operational status for the second quarter of their fiscal year.

Risk Assessment

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

Key Numbers

• 2024-11-30 — Period End Date (The end of the reporting period for this 10-Q filing.)
• 20250121 — Filing Date (The date the 10-Q was officially filed with the SEC.)
• 0531 — Fiscal Year End (Indicates the end of Marquie Group's fiscal year.)

Key Players & Entities

• Marquie Group, Inc. (company) — Filer of the 10-Q
• 2024-11-30 (date) — End of the reporting period
• 20250121 (date) — Filing date
• RADIO BROADCASTING STATIONS (industry) — Standard Industrial Classification

FAQ

Key Financial Figures

• $0.0001 — 2025 there were 3,325,531,102 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 $ 848,817 $ 728,81
• $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
• $11,319 — in default, net of discount of $-0- and $11,319, respectively (J) 21,520 10,201 Con
• $1,052 — r 18, 2024, net of discount of $-0- and $1,052, respectively (K) 3,500 2,448 Conve
• $4,018 — on January 18, 2025, net of discount of $4,018 and $19,338, respectively (L) 26,536
• $19,338 — 18, 2025, net of discount of $4,018 and $19,338, respectively (L) 26,536 11,217 Not
• $25,000 — On April 22, 2015, the Company issued a $25,000 Promissory Note, non-interest bearing (
• $50,000 — On July 24, 2015, the Company issued a $50,000 Promissory Note to Kodiak Capital Group
• $72,750 — V) On May 3, 2017, the Company issued a $72,750 Convertible Promissory Note to a lender

Filing Documents

• marquie_i10q-113024.htm (10-Q) — 553KB
• marquie_ex3101.htm (EX-31.1) — 12KB
• marquie_ex3201.htm (EX-32.1) — 4KB
• 0001683168-25-000452.txt ( ) — 3269KB
• tmgi-20241130.xsd (EX-101.SCH) — 33KB
• tmgi-20241130_cal.xml (EX-101.CAL) — 36KB
• tmgi-20241130_def.xml (EX-101.DEF) — 79KB
• tmgi-20241130_lab.xml (EX-101.LAB) — 239KB
• tmgi-20241130_pre.xml (EX-101.PRE) — 190KB
• marquie_i10q-113024_htm.xml (XML) — 427KB

: 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 17

: 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. Consolidated Balance Sheets November 30, May 31, 2024 2024 (Unaudited) ASSETS CURRENT ASSETS Cash and cash equivalents $ 243 $ – Total Current Assets 243 – OTHER ASSETS Investment in Acquisition 6,200,000 6,200,000 Loans receivable, related party 35,237 35,237 Music inventory, net of accumulated depreciation of $ 21,719 and $ 21,533 , respectively 549 735 Trademark costs 11,165 11,165 Total Other Assets 6,246,951 6,247,137 TOTAL ASSETS $ 6,247,194 $ 6,247,137 LIABILITIES AND STOCKHOLDERS' DEFICIT CURRENT LIABILITIES Bank overdraft $ – $ 89 Accounts payable 81,074 77,074 Accrued interest payable on notes payable 1,017,856 844,460 Accrued consulting fees 1,505,917 1,385,917 Notes payable, net of debt discounts of $ 4,018 and $ 31,709 , respectively 1,462,423 1,434,733 Notes payable to related parties 2,083,815 2,082,315 Derivative liability 239,991 206,113 Total Current Liabilities 6,391,076 6,030,701 TOTAL LIABILITIES 6,391,076 6,030,701 STOCKHOLDERS' EQUITY (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, 3,325,531,102 and 756,612,000 shares issued and outstanding, respectively 332,555 332,555 Additional paid-in-capital 14,747,367 14,747,367 Accumulated deficit ( 15,223,804 ) ( 14,863,486 ) Total Stockholders' Equity (Deficit) ( 143,882 ) 216,436 TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 6,247,194 $ 6,247,137 The accompanying notes are an integral part of these

financial statements

financial statements 3 THE MARQUIE GROUP, INC. Consolidated Statements of Operations (Unaudited) For the Three Months Ended For the Six Months Ended November 30, November 30, 2024 2023 2024 2023 NET REVENUES $ – $ – $ – $ – OPERATING EXPENSES Salaries and Consulting fees 60,000 60,000 120,000 120,000 Professional fees 4,500 45,917 4,500 62,893 Other selling, general and administrative 214 60,848 854 61,415 Total Operating Expenses 64,714 166,765 125,354 244,308 LOSS FROM OPERATIONS ( 64,714 ) ( 166,765 ) ( 125,354 ) ( 244,308 ) OTHER INCOME (EXPENSES) Income from derivative liability 3,355 167,975 ( 33,877 ) 711,198 Interest expense (including amortization of debt discounts of $ 7,790 , $ 24,757 , $ 27,690 , and $ 48,882 , respectively) ( 94,015 ) ( 135,326 ) ( 201,087 ) ( 247,924 ) Total Other Income (Expenses) ( 90,660 ) 32,649 ( 234,964 ) 463,274 LOSS BEFORE INCOME TAXES ( 155,374 ) ( 134,116 ) ( 360,318 ) 218,966 INCOME TAX EXPENSE – – – – NET INCOME (LOSS) $ ( 155,374 ) $ ( 134,116 ) $ ( 360,318 ) $ 218,966 BASIC AND DILUTED: Net income (loss) per common share $ ( 0.00 ) $ ( 0.00 ) $ ( 0.00 ) $ 0.00 Weighted average shares outstanding 3,325,531,102 427,583,795 3,325,531,102 807,957,041 The accompanying notes are an integral part of these

financial statements

financial statements 4 THE MARQUIE GROUP, INC. Consolidated Statements of Stockholders' Equity (Deficit) (Unaudited) Six Months Ended November 30, 2024 Preferred Stock Common Stock Additional Paid-in Accumulated Total Stockholders' Equity Shares Amount Shares Amount Capital Deficit (Deficit) Balance, May 31, 2024 200 $ – 3,325,531,102 $ 332,555 $ 14,747,367 $ ( 14,863,486 ) $ 216,436 Net loss for the three months ended August 31, 2024 – – – – – ( 204,944 ) ( 204,944 ) Balance, August 31, 2024 200 $ – 3,325,531,102 $ 332,555 $ 14,747,367 $ ( 15,068,430 ) $ 11,492 Net loss for the three months ended November 30, 2024 – – – – – ( 155,374 ) ( 155,374 ) Balance, November 30, 2024 200 $ – 3,325,531,102 $ 332,555 $ 14,747,367 $ ( 15,223,804 ) $ ( 143,882 ) Six Months Ended November 30, 2023 Preferred Stock Common Stock Additional Paid-in Accumulated Total Stockholders' Equity Shares Amount Shares Amount Capital Deficit (Deficit) Balance, May 31, 2023 200 $ – 756,612,000 $ 75,663 $ 14,495,356 $ ( 14,698,030 ) $ ( 127,011 ) Net income for the three months ended August 31, 2023 – – – – – 353,082 353,082 Balance, August 31, 2023 200 $ – 756,612,000 $ 75,663 $ 14,495,356 $ ( 14,344,948 ) $ 226,071 Common stock issued for conversion of debt – – 279,334,689 27,932 49,179 – 77,111 Common stock issued for Standby Equity Agreement – – 118,443,135 11,844 43,887 – 55,731 Net loss for the three months ended November 30, 2023 – – – – – ( 134,116 ) ( 134,116 ) Balance, November 30, 2023 200 $ – 1,154,389,824 $ 115,440 $ 14,588,422 $ ( 14,479,064 ) $ 224,798 The accompanying notes are an integral part of these

financial statements

financial statements 5 THE MARQUIE GROUP, INC. Consolidated Statements of Cash Flows (Unaudited) For the Six Months Ended November 30, 2024 November 30, 2023 CASH FLOWS FROM OPERATING ACTIVITIES: Net income (loss) $ ( 360,318 ) $ 218,966 Adjustments to reconcile net income to net cash used by operating activities: Depreciation of music inventory 186 446 Change in fair value of derivative liability 33,878 ( 711,198 ) Amortization of debt discounts 27,690 48,882 Changes in operating assets and liabilities: Accounts payable 4,000 19,333 Accrued interest payable on notes payable 173,396 197,043 Accrued consulting fees 120,000 120,000 Net Cash Used by Operating Activities ( 1,168 ) ( 106,528 ) CASH FLOWS FROM INVESTING ACTIVITIES: – – CASH FLOWS FROM FINANCING ACTIVITIES: Bank overdraft ( 89 ) ( 46 ) Proceeds from standby equity agreement – 55,732 Proceeds from notes payable – 56,000 Repayments of notes payable to related parties – ( 2,725 ) Proceeds from notes payable to related parties 1,500 – Net Cash Provided by Financing Activities 1,411 108,961 NET INCREASE IN CASH AND CASH EQUIVALENTS 243 2,433 CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD – – CASH AND CASH EQUIVALENTS, END OF PERIOD $ 243 $ 2,433 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 Conversion of debt and accrued interest into common stock $ – $ 77,111 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, 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. 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 six months ended November 30, 2024 are not necessarily indicative of results that may be expected for the year ending May 31, 2025. Acquisition of The Marquie Group, Inc. On August 16, 2018 (see Note 8), th

View Full Filing

View this 10-Q filing on SEC EDGAR