$GCAN
Greater Cannabis Company Inc Stock $gcan

$gcan Overview Financials Valuation SEC Filings Company Website

2023 Q2 Form 10-K Financial Statement

#000149315223012132 Filed on April 13, 2023

Income Statement

Concept	2023 Q2	2022 Q4	2022
Revenue		$0.00
YoY Change
Cost Of Revenue		$0.00
YoY Change
Gross Profit		$0.00
YoY Change
Gross Profit Margin
Selling, General & Admin	$30.00K	$30.00K	$120.0K
YoY Change	0.0%	0.0%	-20.53%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization	$1.250K	$1.250K	$5.000K
YoY Change	0.0%	0.0%	0.0%
% of Gross Profit
Operating Expenses	$41.40K	$42.27K	$177.0K
YoY Change	-3.79%	-64.8%	-48.4%
Operating Profit	-$41.40K	-$42.27K	-$177.0K
YoY Change	-3.79%	-64.8%	-48.41%
Interest Expense	-$3.640K	-$5.130K	-$122.7K
YoY Change	-47.02%	-93.27%	-201.98%
% of Operating Profit
Other Income/Expense, Net	-$3.639K		-$183.2K
YoY Change	-81.21%
Pretax Income	-$45.04K	-$47.40K	-$360.3K
YoY Change	-27.82%	-75.86%	-40.18%
Income Tax		$0.00
% Of Pretax Income
Net Earnings	-$45.04K	-$47.40K	-$360.3K
YoY Change	-27.82%	-75.86%	-40.18%
Net Earnings / Revenue
Basic Earnings Per Share	$0.00		$0.00
Diluted Earnings Per Share	$0.00	$0.00	$0.00
COMMON SHARES
Basic Shares Outstanding	732.6M shares	668.6M shares	587.8M shares
Diluted Shares Outstanding	732.6M shares		587.8M shares

Balance Sheet

Concept	2023 Q2	2022 Q4	2022
SHORT-TERM ASSETS
Cash & Short-Term Investments	$240.8K	$270.0K	$270.0K
YoY Change	-22.64%	-28.47%	-28.47%
Cash & Equivalents	$240.7K	$270.0K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets	$240.7K	$270.0K	$270.0K
YoY Change	-22.64%	-28.47%	-28.47%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets	$7.917K	$10.42K	$10.42K
YoY Change	-38.71%	-32.43%	-32.43%
TOTAL ASSETS
Total Short-Term Assets	$240.7K	$270.0K	$270.0K
Total Long-Term Assets	$7.917K	$10.42K	$10.42K
Total Assets	$248.7K	$280.4K	$280.5K
YoY Change	-23.28%	-28.63%	-28.63%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$5.340K	$16.25K	$16.25K
YoY Change	-36.02%	38.84%	38.77%
Accrued Expenses	$372.8K	$305.6K	$305.6K
YoY Change	46.22%	38.15%	38.15%
Deferred Revenue
YoY Change
Short-Term Debt	$503.4K	$503.4K	$503.4K
YoY Change	-28.33%	-19.97%	-19.97%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities	$881.6K	$825.3K	$825.3K
YoY Change	-8.71%	-4.26%	-4.26%
LONG-TERM LIABILITIES
Long-Term Debt	$0.00	$0.00	$0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities	$0.00	$0.00	$0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities	$881.6K	$825.3K	$825.3K
Total Long-Term Liabilities	$0.00	$0.00	$0.00
Total Liabilities	$881.6K	$825.3K	$825.3K
YoY Change	-8.71%	-4.26%	-4.26%
SHAREHOLDERS EQUITY
Retained Earnings	-$4.381M	-$4.293M
YoY Change	5.75%	9.16%
Common Stock	$732.6K	$732.6K
YoY Change	37.29%	44.04%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	-$632.9K	-$544.8K	-$544.8K
YoY Change
Total Liabilities & Shareholders Equity	$248.7K	$280.4K	$280.5K
YoY Change	-23.28%	-28.63%	-28.63%

Cashflow Statement

Concept	2023 Q2	2022 Q4	2022
OPERATING ACTIVITIES
Net Income	-$45.04K	-$47.40K	-$360.3K
YoY Change	-27.82%	-75.86%	-40.18%
Depreciation, Depletion And Amortization	$1.250K	$1.250K	$5.000K
YoY Change	0.0%	0.0%	0.0%
Cash From Operating Activities	-$10.80K	-$19.06K	-$107.5K
YoY Change	-80.85%	-75.82%	-54.34%
INVESTING ACTIVITIES
Capital Expenditures	$0.00
YoY Change
Acquisitions
YoY Change
Other Investing Activities		$0.00	$0.00
YoY Change
Cash From Investing Activities	$0.00	$0.00	$0.00
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	0.000	0.000
YoY Change
NET CHANGE
Cash From Operating Activities	-10.80K	-19.06K	-$107.5K
Cash From Investing Activities	0.000	0.000	0.000
Cash From Financing Activities	0.000	0.000
Net Change In Cash	-10.80K	-19.06K	-$107.5K
YoY Change	-80.85%	-75.82%
FREE CASH FLOW
Cash From Operating Activities	-$10.80K	-$19.06K	-$107.5K
Capital Expenditures	$0.00
Free Cash Flow	-$10.80K
YoY Change

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
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CY2022	dei	Amendment Flag AmendmentFlag	false
CY2022	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	FY
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CY2022Q4	us-gaap	Derivative Liabilities DerivativeLiabilities		usd
CY2021Q4	us-gaap	Derivative Liabilities DerivativeLiabilities		usd
CY2022	dei	Document Type DocumentType	10-K
CY2022	dei	Document Annual Report DocumentAnnualReport	true
CY2022	dei	Document Period End Date DocumentPeriodEndDate	2022-12-31
CY2022	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
CY2022	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2022
CY2022	dei	Document Transition Report DocumentTransitionReport	false
CY2022	dei	Entity File Number EntityFileNumber	333-218854
CY2022	dei	Entity Registrant Name EntityRegistrantName	The GREATER CANNABIS COMPANY, INC.
CY2022	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	FL
CY2022	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	30-0842570
CY2022	dei	Entity Address Address Line1 EntityAddressAddressLine1	2833 Smith Avenue Suite 333
CY2022	dei	Entity Address City Or Town EntityAddressCityOrTown	Baltimore
CY2022	dei	Entity Address State Or Province EntityAddressStateOrProvince	MD
CY2022	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	21209
CY2022	dei	City Area Code CityAreaCode	(443)
CY2022	dei	Local Phone Number LocalPhoneNumber	738-4051
CY2022	dei	Entity Well Known Seasoned Issuer EntityWellKnownSeasonedIssuer	No
CY2022	dei	Entity Voluntary Filers EntityVoluntaryFilers	No
CY2022	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
CY2022	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
CY2022	dei	Entity Filer Category EntityFilerCategory	Non-accelerated Filer
CY2022	dei	Entity Small Business EntitySmallBusiness	true
CY2022	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	true
CY2022	dei	Entity Ex Transition Period EntityExTransitionPeriod	false
CY2022	dei	Entity Shell Company EntityShellCompany	false
CY2022Q2	dei	Entity Public Float EntityPublicFloat	586.110	usd
CY2023Q2	dei	Entity Common Stock Shares Outstanding EntityCommonStockSharesOutstanding	732638436	shares
CY2022	dei	Auditor Firm AuditorFirmId	5968
CY2022	dei	Auditor Name AuditorName	OLAYINKA OYEBOLA & CO.
CY2022	dei	Auditor Location AuditorLocation	Lago s Nigeria
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CY2022Q4	us-gaap	Intangible Assets Net Including Goodwill IntangibleAssetsNetIncludingGoodwill	10417	usd
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CY2021Q4	us-gaap	Accounts Payable Current AccountsPayableCurrent	11705	usd
CY2022Q4	us-gaap	Interest Payable Current InterestPayableCurrent	42589	usd
CY2021Q4	us-gaap	Interest Payable Current InterestPayableCurrent	18199	usd
CY2022Q4	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	263000	usd
CY2021Q4	us-gaap	Accrued Employee Benefits Current AccruedEmployeeBenefitsCurrent	203000	usd
CY2022Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	260000	usd
CY2021Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	260000	usd
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CY2021Q4	us-gaap	Liabilities Liabilities	861999	usd
CY2022Q4	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	19000000	shares
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CY2022	GCAN	Conversion Of Note Payable And Accrued Interest Into Shares Of Common Stock Fair Value Eleven ConversionOfNotePayableAndAccruedInterestIntoSharesOfCommonStockFairValueEleven	64000	usd
CY2022Q4	us-gaap	Cash Equivalents At Carrying Value CashEquivalentsAtCarryingValue	0	usd
CY2022	us-gaap	Use Of Estimates UseOfEstimates	<p id="xdx_844_eus-gaap--UseOfEstimates_zCD9mJwG0aQe" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_862_zmyFkDtaTbb2">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt">The preparation of 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 and disclosure of contingent assets and liabilities at the date of the financial statements and reported amounts of revenue and expenses during the reporting periods. Actual results could differ from those estimates.</span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
CY2022Q4	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	270030	usd
CY2022Q4	us-gaap	Liabilities Current LiabilitiesCurrent	825277	usd
CY2022Q4	GCAN	Working Capital Deficit WorkingCapitalDeficit	555247	usd
CY2022	us-gaap	Net Income Loss NetIncomeLoss	-360268	usd
CY2022	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-107490	usd
CY2021Q4	us-gaap	Allowance For Doubtful Accounts Premiums And Other Receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables	36750	usd
CY2022Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	260000	usd
CY2021Q4	us-gaap	Due To Related Parties Current DueToRelatedPartiesCurrent	260000	usd
CY2022Q4	us-gaap	Notes Payable Related Parties Current And Noncurrent NotesPayableRelatedPartiesCurrentAndNoncurrent	243437	usd
CY2021Q4	us-gaap	Notes Payable Related Parties Current And Noncurrent NotesPayableRelatedPartiesCurrentAndNoncurrent	369095	usd
CY2022Q4	us-gaap	Notes Payable Related Parties Current And Noncurrent NotesPayableRelatedPartiesCurrentAndNoncurrent	243437	usd
CY2021Q4	us-gaap	Notes Payable Related Parties Current And Noncurrent NotesPayableRelatedPartiesCurrentAndNoncurrent	369095	usd
CY2022	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	224000000	shares
CY2022	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	224000	usd
CY2022Q4	us-gaap	Debt Instrument Convertible Conversion Price1 DebtInstrumentConvertibleConversionPrice1	0.001
CY2022	us-gaap	Debt Default Longterm Debt Description Of Notice Of Default DebtDefaultLongtermDebtDescriptionOfNoticeOfDefault	(i) the date the Registration Statement (as defined below) covering the shares issuable upon conversion of the FFG Notes is declared effective by the Securities and Exchange Commission (the “SEC”) or (ii) one hundred eighty (180) days following the Issue Date to convert all or any part of the outstanding and unpaid principal amount of the FF Note into fully paid and non-assessable shares of our common stock at the conversion price (the “Conversion Price”)
CY2022	us-gaap	Default Longterm Debt Description Of Violation Or Event Of Default DefaultLongtermDebtDescriptionOfViolationOrEventOfDefault	In the case of an Event of Default (as defined in the Note), the FF Note shall become immediately due and payable in an amount (the “Default Amount”) equal to the principal amount then outstanding plus accrued interest (including any Default Interest) through the date of full repayment multiplied by one hundred twenty-five percent (125%) and interest shall accrue at the rate of Default Interest
CY2017Q1	us-gaap	Stock Issued During Period Shares New Issues StockIssuedDuringPeriodSharesNewIssues	26905969	shares
CY2019Q2	GCAN	Fair Value Of Shares Charged To Other Operating Expenses FairValueOfSharesChargedToOtherOperatingExpenses	75880	usd
CY2019Q2	GCAN	Number Of Shares Issued For Other Operating Expenses NumberOfSharesIssuedForOtherOperatingExpenses	542000	shares
CY2019Q3	GCAN	Number Of Shares Issued For Services NumberOfSharesIssuedForServices	175000	shares
CY2019Q3	GCAN	Fair Value Of Common Stock FairValueOfCommonStock	12250	usd
CY2019Q3	GCAN	Fair Value Of Shares Charged To Other Operating Expenses FairValueOfSharesChargedToOtherOperatingExpenses	175000	usd
CY2019Q4	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	1748363	shares
CY2019Q4	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	53705	usd
CY2019Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	2680	usd
CY2019Q4	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	1468204	shares
CY2019Q4	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	29000	usd
CY2019Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	4015	usd
CY2019Q4	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	637273	shares
CY2019Q4	us-gaap	Debt Instrument Face Amount DebtInstrumentFaceAmount	10000	usd
CY2019Q4	us-gaap	Interest Payable Current And Noncurrent InterestPayableCurrentAndNoncurrent	515	usd
CY2020Q1	GCAN	Excess Of Fair Value ExcessOfFairValue	228949	usd
CY2020Q1	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	406093	usd
CY2020Q1	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	21484688	shares
CY2020Q1	GCAN	Liability Reduction LiabilityReduction	177143	usd
	GCAN	Excess Of Fair Value ExcessOfFairValue	132838	usd
CY2020Q2	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	210532	usd
CY2020Q2	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	27563525	shares
CY2020Q2	GCAN	Liability Reduction LiabilityReduction	77695	usd
CY2020Q3	GCAN	Excess Of Fair Value ExcessOfFairValue	467554	usd
CY2020Q3	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	797067	usd
CY2020Q3	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	115277834	shares
CY2020Q3	GCAN	Liability Reduction LiabilityReduction	329512	usd
CY2020Q4	GCAN	Excess Of Fair Value ExcessOfFairValue	462263	usd
CY2020Q4	us-gaap	Debt Conversion Converted Instrument Amount1 DebtConversionConvertedInstrumentAmount1	804324	usd
CY2020Q4	us-gaap	Debt Conversion Converted Instrument Shares Issued1 DebtConversionConvertedInstrumentSharesIssued1	261215948	shares
CY2020Q4	GCAN	Liability Reduction LiabilityReduction	342061	usd

Files In Submission

Name	View Source	Status
0001493152-23-012132-index-headers.html	Edgar Link	pending
0001493152-23-012132-index.html	Edgar Link	pending
0001493152-23-012132.txt	Edgar Link	pending
0001493152-23-012132-xbrl.zip	Edgar Link	pending
ex1.htm	Edgar Link	pending
ex1_001.jpg	Edgar Link	pending
ex1_002.jpg	Edgar Link	pending
ex31-1.htm	Edgar Link	pending
ex31-2.htm	Edgar Link	pending
ex32-1.htm	Edgar Link	pending
Financial_Report.xlsx	Edgar Link	pending
form10-k.htm	Edgar Link	pending
gcan-20221231.xsd	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
R10.htm	Edgar Link	pending
R11.htm	Edgar Link	pending
R12.htm	Edgar Link	pending
R13.htm	Edgar Link	pending
R14.htm	Edgar Link	pending
R15.htm	Edgar Link	pending
R16.htm	Edgar Link	pending
gcan-20221231_cal.xml	Edgar Link	unprocessable
FilingSummary.xml	Edgar Link	unprocessable
gcan-20221231_def.xml	Edgar Link	unprocessable
gcan-20221231_lab.xml	Edgar Link	unprocessable
gcan-20221231_pre.xml	Edgar Link	unprocessable
form10-k_htm.xml	Edgar Link	completed
R17.htm	Edgar Link	pending
R18.htm	Edgar Link	pending
R19.htm	Edgar Link	pending
R2.htm	Edgar Link	pending
R20.htm	Edgar Link	pending
R21.htm	Edgar Link	pending
R22.htm	Edgar Link	pending
R23.htm	Edgar Link	pending
R24.htm	Edgar Link	pending
R25.htm	Edgar Link	pending
R26.htm	Edgar Link	pending
R27.htm	Edgar Link	pending
R28.htm	Edgar Link	pending
R29.htm	Edgar Link	pending
R3.htm	Edgar Link	pending
R30.htm	Edgar Link	pending
R31.htm	Edgar Link	pending
R32.htm	Edgar Link	pending
R33.htm	Edgar Link	pending
R34.htm	Edgar Link	pending
R35.htm	Edgar Link	pending
R36.htm	Edgar Link	pending
R4.htm	Edgar Link	pending
R5.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$GCAN
Greater Cannabis Company Inc Stock $gcan

2023 Q2 Form 10-K Financial Statement

#000149315223012132 Filed on April 13, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$GCAN Greater Cannabis Company Inc Stock $gcan

2023 Q2 Form 10-K Financial Statement

#000149315223012132 Filed on April 13, 2023

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$GCAN
Greater Cannabis Company Inc Stock $gcan