$TCRG
Cannaisseur Group Inc.

2024 Q3 Form 10-Q Financial Statement

#000118518524000828 Filed on August 16, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2 2023 Q2
Revenue $285.00 $0.00 $19.05K
YoY Change -98.35% -100.0%
Cost Of Revenue $668.00 $485.00 $4.774K
YoY Change -90.02% -89.84%
Gross Profit -$383.00 -$485.00 $14.28K
YoY Change -103.63% -103.4%
Gross Profit Margin -134.39% 74.94%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses $20.95K $1.070M $57.87K
YoY Change -67.77% 1748.41%
Operating Profit -$21.34K -$1.070M -$43.59K
YoY Change -60.83% 2354.9%
Interest Expense
YoY Change
% of Operating Profit
Other Income/Expense, Net -$1.626K -$1.560K -$255.00
YoY Change 530.23% 511.76%
Pretax Income -$22.96K -$1.072M -$43.84K
YoY Change -58.05% 2344.18%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$22.33K -$1.071M -$43.84K
YoY Change -31.1% 2343.35% 1262.04%
Net Earnings / Revenue -7836.14% -230.15%
Basic Earnings Per Share $0.00 -$0.02 $0.00
Diluted Earnings Per Share $0.00 -$0.02 $0.00
COMMON SHARES
Basic Shares Outstanding 44.22M shares 42.55M shares 39.37M shares
Diluted Shares Outstanding 44.23M shares 44.95M shares 39.37M shares

Balance Sheet

Concept 2024 Q3 2024 Q2 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $532.00 $1.471K $13.11K
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $2.141K $2.809K
Prepaid Expenses
Receivables $285.00
Other Receivables
Total Short-Term Assets $2.958K $4.280K
YoY Change -86.39%
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 $0.00 $0.00
YoY Change -100.0%
TOTAL ASSETS
Total Short-Term Assets $2.958K $4.280K
Total Long-Term Assets $0.00 $0.00
Total Assets $2.958K $4.280K
YoY Change -89.26%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due $6.534K $6.374K
YoY Change
Total Short-Term Liabilities $109.9K $98.44K
YoY Change 32.98%
LONG-TERM LIABILITIES
Long-Term Debt $111.6K $105.8K
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $111.6K $105.8K
YoY Change 332.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $109.9K $98.44K
Total Long-Term Liabilities $111.6K $105.8K
Total Liabilities $221.6K $204.2K
YoY Change 104.28%
SHAREHOLDERS EQUITY
Retained Earnings -$1.625M -$1.602M
YoY Change 301.56%
Common Stock $4.422K $4.421K
YoY Change 9.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity
YoY Change
Total Liabilities & Shareholders Equity $2.958K $4.280K
YoY Change -89.26%

Cashflow Statement

Concept 2024 Q3 2024 Q2 2023 Q2
OPERATING ACTIVITIES
Net Income -$22.33K -$1.071M -$43.84K
YoY Change -31.1% 2343.35% 1262.04%
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
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us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration:underline">Use of Estimates</span></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of expenses during the reporting period. Management bases its estimates on historical experience and on various assumptions that are believed to be reasonable in relation to the financial statements taken as a whole under 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. Management regularly evaluates the key factors and assumptions used to develop the estimates utilizing currently available information, changes in facts and circumstances, historical experience and reasonable assumptions. After such evaluations, if deemed appropriate, those estimates are adjusted accordingly. Actual results could differ from those estimates. Significant estimates are expected to include those related to assumptions used in calculating accruals for potential liabilities, valuing equity instruments issued for services, and the realization of deferred tax assets.</p>
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;"><span style="text-decoration:underline">Concentration of Risk</span></p><p style="font-family:Times New Roman;font-size:10pt;font-variant:normal;text-align:justify;margin:0pt;">The Company may periodically contract with consultants and vendors to provide services related to the Company's business development activities. Agreements for these services may be for a specific time period or for a specific project or task. The Company did not have any agreements at June 30, 2024 or December 31, 2023.</p>
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
3202505 shares
CY2023 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
2666667 shares
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
112160 usd
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
72160 usd
CY2024Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
6374 usd
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
6377 usd
CY2024Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
105786 usd
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
65783 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
6374 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
80652 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
677 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
703 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
730 usd
CY2024Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
23024 usd
CY2024Q2 us-gaap Long Term Debt
LongTermDebt
112160 usd
CY2023Q4 tcgi Operating Lease Right Of Use Asset Before Accumulated Amortization
OperatingLeaseRightOfUseAssetBeforeAccumulatedAmortization
84994 usd
CY2023Q4 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.10 pure
CY2023Q4 us-gaap Security Deposit
SecurityDeposit
9084 usd
CY2023Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
18000 usd
CY2023Q4 us-gaap Loss Contingency Settlement Agreement Terms
LossContingencySettlementAgreementTerms
monthly installments of $1,500 for 12 months
CY2023 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
4185 usd
CY2023 us-gaap Increase Decrease In Operating Lease Liability
IncreaseDecreaseInOperatingLeaseLiability
2726 usd
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
18968 usd
us-gaap Payments For Rent
PaymentsForRent
5500 usd
CY2024Q2 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
9501 usd
CY2023Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
15001 usd
us-gaap Temporary Equity Description
TemporaryEquityDescription
preferred stock of Atlanta CBD with redeemable features that allow the investors (“Investors”) to request repayment of their investment. The Investors are also entitled to profit distributions equal to the lesser of (i) 25% interest, (ii) the difference between the ownership percentage of management and 50%, which will be distributed to management, until a 35% profit goal achieved. Preferred shareholders are entitled to a return of their investment upon 15 days’ notice given to the Company after any distribution
CY2024Q2 us-gaap Common Stock Shares Authorized
CommonStockSharesAuthorized
100000000 shares
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
44219224 shares
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
44219224 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
42547484 shares
CY2023Q4 us-gaap Common Stock Other Shares Outstanding
CommonStockOtherSharesOutstanding
42547484 shares
CY2024Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
21740 shares
CY2024Q2 us-gaap Share Price
SharePrice
0.23
CY2024Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
5000 usd
CY2024Q2 us-gaap Stock Issued During Period Shares Issued For Services
StockIssuedDuringPeriodSharesIssuedForServices
400000 shares
CY2024Q2 us-gaap Stock Issued During Period Value Issued For Services
StockIssuedDuringPeriodValueIssuedForServices
115000 usd
CY2024Q2 us-gaap Stock Issued During Period Shares Share Based Compensation Forfeited
StockIssuedDuringPeriodSharesShareBasedCompensationForfeited
4750000 shares
CY2024Q2 tcgi Cancellation Of Shares Of Common Stock
CancellationOfSharesOfCommonStock
475 usd
CY2024Q2 us-gaap Proceeds From Contributed Capital
ProceedsFromContributedCapital
4000 usd
CY2023Q1 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
333334 shares
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
914286 shares
CY2023Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
20000 usd
CY2023Q2 us-gaap Share Price
SharePrice
0.022
CY2023Q2 us-gaap Stock Issued During Period Shares New Issues
StockIssuedDuringPeriodSharesNewIssues
2133332 shares
CY2023Q2 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
32000 usd
CY2023Q4 us-gaap Increase Decrease In Security Deposits
IncreaseDecreaseInSecurityDeposits
9084 usd
CY2023Q4 us-gaap Litigation Settlement Amount Awarded To Other Party
LitigationSettlementAmountAwardedToOtherParty
18000 usd
CY2023Q4 us-gaap Loss Contingency Settlement Agreement Terms
LossContingencySettlementAgreementTerms
monthly installments of $1,500 for 12 months
CY2023 us-gaap Gain Loss Related To Litigation Settlement
GainLossRelatedToLitigationSettlement
18968 usd
us-gaap Payments For Rent
PaymentsForRent
5500 usd
CY2024Q2 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
9501 usd
CY2023Q4 us-gaap Settlement Liabilities Current
SettlementLiabilitiesCurrent
15001 usd
ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Entity Central Index Key
EntityCentralIndexKey
0001879270

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