THC Therapeutics, Inc.

2024 Q1 Form 10-Q Financial Statement

#000147793224005523 Filed on September 05, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q1

Balance Sheet

Concept 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $8.840K
YoY Change -64.95%
Cash & Equivalents $3.511K $8.835K
Short-Term Investments
Other Short-Term Assets $1.490K
YoY Change -89.85%
Inventory $0.00
Prepaid Expenses $0.00 $1.494K
Receivables
Other Receivables
Total Short-Term Assets $3.511K $10.33K
YoY Change -66.01% -74.63%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $11.31K $12.70K
YoY Change -10.97% -9.88%
Long-Term Investments
YoY Change
Other Assets $0.00
YoY Change -100.0%
Total Long-Term Assets $11.31K $12.70K
YoY Change -10.97% -92.54%
TOTAL ASSETS
Total Short-Term Assets $3.511K $10.33K
Total Long-Term Assets $11.31K $12.70K
Total Assets $14.82K $23.03K
YoY Change -35.65% -89.09%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $1.790M
YoY Change 120.38%
Accrued Expenses $3.520K
YoY Change -99.41%
Deferred Revenue
YoY Change
Short-Term Debt $706.8K
YoY Change -8.92%
Long-Term Debt Due $25.00K
YoY Change
Total Short-Term Liabilities $3.810M $3.294M
YoY Change 15.66% -1.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $100.0K
YoY Change 0.0%
Total Long-Term Liabilities $100.0K
YoY Change 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.810M $3.294M
Total Long-Term Liabilities $100.0K
Total Liabilities $3.810M $3.294M
YoY Change 15.66% -1.51%
SHAREHOLDERS EQUITY
Retained Earnings -$39.06M -$38.49M
YoY Change 1.49% 1.93%
Common Stock $32.75K $32.75K
YoY Change 0.0% 0.78%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$3.895M -$3.371M
YoY Change
Total Liabilities & Shareholders Equity $14.82K $23.03K
YoY Change -35.65% -89.09%

Cashflow Statement

Concept 2024 Q1 2023 Q1

Facts In Submission

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THC Therapeutics, Inc.
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Significant estimates include estimates used to review the Company’s goodwill, impairments and estimations of long-lived assets, revenue recognition on percentage of completion type contracts, allowances for uncollectible accounts, inventory valuation, and the valuations of non-cash capital stock issuances. The Company bases its estimates on historical experience and on various other assumptions that are believed to be reasonable in the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions.</p>
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ConcentrationRiskCreditRisk
<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px 0px 0px 0in; text-align:justify;">At times throughout the year, the Company may maintain cash balances in certain bank accounts in excess of FDIC limits. As of January 31, 2024, the cash balance in excess of the FDIC limits was $0. The Company has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk in these accounts.</p>
CY2024Q1 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
0 usd
CY2023Q3 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
489569 usd
CY2024Q1 us-gaap Derivative Instruments And Hedges Liabilities
DerivativeInstrumentsAndHedgesLiabilities
944610 usd
CY2024Q1 thct Stock Price
StockPrice
0.004
CY2024Q1 thct Risk Free Discount Rate
RiskFreeDiscountRate
0.0553 pure
CY2024Q1 thct Volatility Rate
VolatilityRate
5.7349 pure
us-gaap Advertising Expense
AdvertisingExpense
436 usd
thct Debt Instruments Issued Principal Amount
DebtInstrumentsIssuedPrincipalAmount
130761 usd
CY2024Q1 us-gaap Convertible Long Term Notes Payable
ConvertibleLongTermNotesPayable
576028 usd
CY2021Q3 us-gaap Commitments And Contingencies
CommitmentsAndContingencies
100000 usd

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