$GCAN
Greater Cannabis Company Inc

2024 Q4 Form 10-Q Financial Statement

#000149315224044613 Filed on November 12, 2024

View on sec.gov

Income Statement

Concept 2024 Q4 2024 Q3
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $40.44K
YoY Change -19.86%
Operating Profit -$40.44K
YoY Change -19.86%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$5.722K
YoY Change 92.98%
Pretax Income -$46.17K
YoY Change -13.6%
Income Tax
% Of Pretax Income
Net Earnings -$46.17K
YoY Change -13.6%
Net Earnings / Revenue
Basic Earnings Per Share $0.00
Diluted Earnings Per Share $0.00
COMMON SHARES
Basic Shares Outstanding 804.6M shares 804.6M shares
Diluted Shares Outstanding 804.6M shares

Balance Sheet

Concept 2024 Q4 2024 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $62.28K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $62.28K
YoY Change -68.79%
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
YoY Change -75.0%
TOTAL ASSETS
Total Short-Term Assets $62.28K
Total Long-Term Assets $1.667K
Total Assets $63.95K
YoY Change -68.99%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $6.418K
YoY Change 92.16%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $860.9K
YoY Change 0.5%
LONG-TERM LIABILITIES
Long-Term Debt
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $860.9K
Total Long-Term Liabilities
Total Liabilities $860.9K
YoY Change 0.5%
SHAREHOLDERS EQUITY
Retained Earnings -$4.617M
YoY Change 4.12%
Common Stock $804.6K
YoY Change 4.68%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$796.9K
YoY Change
Total Liabilities & Shareholders Equity $63.95K
YoY Change -68.99%

Cashflow Statement

Concept 2024 Q4 2024 Q3
OPERATING ACTIVITIES
Net Income -$46.17K
YoY Change -13.6%
Depreciation, Depletion And Amortization
YoY Change
Cash From Operating Activities
YoY Change
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities
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
YoY Change
NET CHANGE
Cash From Operating Activities
Cash From Investing Activities
Cash From Financing Activities
Net Change In Cash
YoY Change
FREE CASH FLOW
Cash From Operating Activities
Capital Expenditures
Free Cash Flow
YoY Change

Facts In Submission

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dei Entity File Number
EntityFileNumber
000-56027
dei Entity Registrant Name
EntityRegistrantName
THE GREATER CANNABIS COMPANY, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
FL
dei Entity Tax Identification Number
EntityTaxIdentificationNumber
30-0842570
dei Entity Address Address Line1
EntityAddressAddressLine1
15 Walker Avenue Suite 101
dei Entity Address City Or Town
EntityAddressCityOrTown
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dei Entity Address State Or Province
EntityAddressStateOrProvince
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dei Entity Address Postal Zip Code
EntityAddressPostalZipCode
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dei City Area Code
CityAreaCode
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dei Local Phone Number
LocalPhoneNumber
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dei Entity Current Reporting Status
EntityCurrentReportingStatus
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<p id="xdx_841_eus-gaap--UseOfEstimates_zFhJwigN9Og9" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"><b><span id="xdx_867_ztkGqpDdGkGh">Use of Estimates</span></b></span></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 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 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 0; text-align: justify"><span style="font-family: Times New Roman, Times, Serif; font-size: 10pt"> </span></p>
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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
CY2020Q2 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

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