$GCAN
Greater Cannabis Company Inc

2024 Q3 Form 10-Q Financial Statement

#000149315224031106 Filed on August 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $30.00K
YoY Change 0.0%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $1.250K
YoY Change 0.0%
% of Gross Profit
Operating Expenses $40.44K $39.26K
YoY Change -19.86% -5.19%
Operating Profit -$40.44K -$39.26K
YoY Change -19.86% -5.19%
Interest Expense -$5.660K
YoY Change 55.49%
% of Operating Profit
Other Income/Expense, Net -$5.722K -$5.660K
YoY Change 92.98% 55.54%
Pretax Income -$46.17K -$44.92K
YoY Change -13.6% -0.28%
Income Tax
% Of Pretax Income
Net Earnings -$46.17K -$44.92K
YoY Change -13.6% -0.28%
Net Earnings / Revenue
Basic Earnings Per Share $0.00 $0.00
Diluted Earnings Per Share $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 804.6M shares 732.6M shares
Diluted Shares Outstanding 804.6M shares 804.6M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $80.32K
YoY Change -66.64%
Cash & Equivalents $62.28K $80.32K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $62.28K $80.32K
YoY Change -68.79% -66.64%
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 $1.667K $2.917K
YoY Change -75.0% -63.16%
TOTAL ASSETS
Total Short-Term Assets $62.28K $80.32K
Total Long-Term Assets $1.667K $2.917K
Total Assets $63.95K $83.23K
YoY Change -68.99% -66.53%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.418K $5.259K
YoY Change 92.16% -1.52%
Accrued Expenses $397.3K
YoY Change 6.56%
Deferred Revenue
YoY Change
Short-Term Debt $431.4K
YoY Change -14.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $860.9K $834.0K
YoY Change 0.5% -5.4%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $860.9K $834.0K
Total Long-Term Liabilities $0.00
Total Liabilities $860.9K $834.0K
YoY Change 0.5% -5.4%
SHAREHOLDERS EQUITY
Retained Earnings -$4.617M -$4.571M
YoY Change 4.12% 4.33%
Common Stock $804.6K $804.6K
YoY Change 4.68% 9.83%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$796.9K -$750.8K
YoY Change
Total Liabilities & Shareholders Equity $63.95K $83.23K
YoY Change -68.99% -66.53%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$46.17K -$44.92K
YoY Change -13.6% -0.28%
Depreciation, Depletion And Amortization $1.250K
YoY Change 0.0%
Cash From Operating Activities -$49.00K
YoY Change 353.7%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities $0.00
YoY Change
Cash From Investing Activities $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
YoY Change
NET CHANGE
Cash From Operating Activities -49.00K
Cash From Investing Activities 0.000
Cash From Financing Activities 0.000
Net Change In Cash -49.00K
YoY Change 353.7%
FREE CASH FLOW
Cash From Operating Activities -$49.00K
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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<p id="xdx_84F_eus-gaap--UseOfEstimates_z1GZFRzYX1Bb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_86E_zHOcqI5AFSz1">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0pt 0pt 0; 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 0pt 0pt 0; 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 0pt 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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us-gaap Debt Default Longterm Debt Description Of Notice Of Default
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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”). The Conversion Price shall be, equal to 70% of the average closing price of our common stock for the five prior trading days prior to the date that a registration statement in respect of the shares into which is the FF Note is convertible is declared effective.
us-gaap Default Longterm Debt Description Of Violation Or Event Of Default
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