10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q1 2020

Filing Information

Form Type	10-Q
Accession Number	`0001477932-19-007263`
Period End Date	20191031
Filing Date	20191223
Fiscal Year	2020
Fiscal Period	Q1
XBRL Instance	thct-20191031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 39 Cash Flow Statement 53 Stockholders Equity 24

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.97K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$53.99K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$140.25K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$140.25K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.43M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$194.24K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.82M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$457.80K	USD	Point-in-time
Other assets	`OtherAssets`	-	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.82M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.43M	shares	Point-in-time
Other assets	`OtherAssets`	$168.12K	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$31.81K	USD	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$37.14K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$23.97K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	217,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	216,000.00	shares	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.08K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	216,000.00	shares	Point-in-time
Total assets	`Assets`	$418.14K	USD	Point-in-time
Total assets	`Assets`	$520.02K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	217,000.00	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.74K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$407.24K	USD	Point-in-time
Accrued liabilities due to related parties	`DueToRelatedPartiesCurrent`	$16.41K	USD	Point-in-time
Accrued liabilities due to related parties	`DueToRelatedPartiesCurrent`	$217.66K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$70.39K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$104.22K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	$70.00K	USD	Point-in-time
Notes payable	`NotesPayableCurrent`	-	USD	Point-in-time
Convertible Notes payable, net	`ConvertibleNotesPayable`	$152.90K	USD	Point-in-time
Convertible Notes payable, net	`ConvertibleNotesPayable`	$214.57K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$24.66K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$49.86K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$472.26K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$611.26K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.30M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 14,817,839 and 14,434,098 shares issued and outstanding as of October 31, 2019 and July 31, 2019, respectively	`CommonStockValue`	$14.82K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 14,817,839 and 14,434,098 shares issued and outstanding as of October 31, 2019 and July 31, 2019, respectively	`CommonStockValue`	$14.43K	USD	Point-in-time
Preferred Stock Value	`PreferredStockValue`	-	USD	Point-in-time
Preferred Stock Value	`PreferredStockValue`	-	USD	Point-in-time
Stock payable	`StockPayable`	$61.46K	USD	Point-in-time
Stock payable	`StockPayable`	$417.47K	USD	Point-in-time
Stock receivable	`StockReceivable`	$-6.90M	USD	Point-in-time
Stock receivable	`StockReceivable`	$-6.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.42M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.85M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.70M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$1.94M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$1.85M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$520.02K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$418.14K	USD	Point-in-time

Income Statement 39 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$13.11K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$18.29K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$349.80K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$36.89K	USD	1 Quarter
Payroll expense	`PayrollExpense`	$20.57K	USD	1 Quarter
Payroll expense	`PayrollExpense`	$46.94K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$17.82K	USD	1 Quarter
General and administrative expenses	`GeneralAndAdministrativeExpense`	$63.70K	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	-	USD	1 Quarter
Impairment expense	`AssetImpairmentCharges`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.44K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.44K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$172.26K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$407.74K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-172.26K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-407.74K	USD	1 Quarter
Gain/(loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$139.01K	USD	1 Quarter
Gain/(loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-25.35K	USD	1 Quarter
Gain/(loss) on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain/(loss) on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on rescission of token agreements	`GainOnRescissionOfTokenAgreements`	-	USD	1 Quarter
Gain on rescission of token agreements	`GainOnRescissionOfTokenAgreements`	-	USD	1 Quarter
Interest Expense	`InterestExpense`	$-112.22K	USD	1 Quarter
Interest Expense	`InterestExpense`	$-5.77K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$-31.12K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$26.78K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-438.86K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-32.85M	USD	11 Qtrs
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.03	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	14.75M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.00M	shares	1 Quarter

Cash Flow Statement 53 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-438.86K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-32.85M	USD	11 Qtrs
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$25.35K	USD	1 Quarter
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$-139.01K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$96.41K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Stock based compensation	`DividendsSharebasedCompensationStock`	$349.80K	USD	1 Quarter
Stock based compensation	`DividendsSharebasedCompensationStock`	$2.26K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.44K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.44K	USD	1 Quarter
Imputed interest	`DefinedBenefitPlanInterestCost`	-	USD	1 Quarter
Imputed interest	`DefinedBenefitPlanInterestCost`	$607.00	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$249.00K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-41.50K	USD	1 Quarter
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-201.25K	USD	1 Quarter
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$85.11K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-13.05K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-131.61K	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	-	USD	1 Quarter
Purchase of intangible assets	`PaymentsToAcquireIntangibleAssets`	$-1.20K	USD	1 Quarter
Increase in other assets	`PaymentsToAcquireInvestments`	$-168.12K	USD	1 Quarter
Increase in other assets	`PaymentsToAcquireInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.20K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-168.12K	USD	1 Quarter
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$20.57K	USD	1 Quarter
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$27.52K	USD	1 Quarter
Payments on related party debts	`RepaymentsOfRelatedPartyDebt`	$-54.39K	USD	1 Quarter
Payments on related party debts	`RepaymentsOfRelatedPartyDebt`	$-12.03K	USD	1 Quarter
Proceeds of convertible loans, net	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds of convertible loans, net	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Bank Overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	-	USD	1 Quarter
Bank Overdrafts	`ProceedsFromRepaymentsOfBankOverdrafts`	$33.00	USD	1 Quarter
Proceeds from loans	`ProceedsFromLoans`	-	USD	1 Quarter
Proceeds from loans	`ProceedsFromLoans`	$70.00K	USD	1 Quarter
Payments on loans	`PaymentsForLoans`	$-4.25K	USD	1 Quarter
Payments on loans	`PaymentsForLoans`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$11.28K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.17K	USD	1 Quarter
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-2.97K	USD	1 Quarter
Net increase (decrease) in Cash	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-263.56K	USD	1 Quarter
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$2.97K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$53.99K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$2.97K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$53.99K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	-	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for interest	`InterestPaid`	-	USD	1 Quarter
Cash paid for tax	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for tax	`IncomeTaxesPaid`	-	USD	1 Quarter

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$1.94M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$1.85M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Shares for services, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$349.80K	USD	1 Quarter
Imputed interest	`DefinedBenefitPlanInterestCost`	-	USD	1 Quarter
Imputed interest	`DefinedBenefitPlanInterestCost`	$607.00	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-438.86K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net Income (Loss)	`NetIncomeLoss`	$-32.85M	USD	11 Qtrs
Shares and warrants for services, Amount	`SharesAndWarrantsForServicesAmount`	$2.26K	USD	1 Quarter
Shares issued for conversion of convertible debt, Amount	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$10.03K	USD	1 Quarter
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, shares	`SharesIssued`	-	shares	Point-in-time
Balance, amount	`StockholdersEquity`	$1.94M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$1.85M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-882.59K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.