10-K Filing

THC THERAPEUTICS, INC. CIK: 1404935 FY 2020

Filing Information

Form Type	10-K
Accession Number	`0001477932-20-006275`
Period End Date	20200731
Filing Date	20201104
Fiscal Year	2020
Fiscal Period	FY
XBRL Instance	thct-20200731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 42 Cash Flow Statement 62 Stockholders Equity 24

Balance Sheet 64 line items

Line Item	Tag	Value	Unit	Period
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, shares par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$2.97K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.46M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	257,661.00	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.43M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$140.25K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$457.80K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$43.24K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.43M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.46M	shares	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$21.45K	USD	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
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$37.14K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.66K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.08K	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
Preferred stock, shares issued	`PreferredStockSharesIssued`	217,000.00	shares	Point-in-time
Total assets	`Assets`	$520.02K	USD	Point-in-time
Total assets	`Assets`	$85.35K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	218,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	217,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	218,000.00	shares	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$499.25K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$158.74K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$8.47K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$217.66K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$104.22K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$83.66K	USD	Point-in-time
Convertible Notes payable, net	`ConvertibleNotesPayable`	$305.11K	USD	Point-in-time
Convertible Notes payable, net	`ConvertibleNotesPayable`	$152.90K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$124.93K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$24.66K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$611.26K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$842.57K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$59.78K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.27M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.86M	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 21,461,784 and 14,434,098 shares issued and outstanding as of July 31, 2020 and July 31, 2019, respectively	`CommonStockValue`	$21.46K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 21,461,784 and 14,434,098 shares issued and outstanding as of July 31, 2020 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`	$417.47K	USD	Point-in-time
Stock payable	`StockPayable`	$221.70K	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`	$39.51M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-32.70M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.63M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$1.94M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$520.02K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$85.35K	USD	Point-in-time

Income Statement 42 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	Annual
Revenues	`Revenues`	-	USD	Annual
Cost of revenues	`CostOfRevenue`	-	USD	Annual
Cost of revenues	`CostOfRevenue`	-	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Gross profit	`GrossProfit`	-	USD	Annual
Professional fees	`ProfessionalFees`	$118.75K	USD	Annual
Professional fees	`ProfessionalFees`	$315.75K	USD	Annual
Consulting fees	`ConsultingFees`	$23.88M	USD	Annual
Consulting fees	`ConsultingFees`	$611.31K	USD	Annual
Payroll expense	`PayrollExpense`	$192.56K	USD	Annual
Payroll expense	`PayrollExpense`	$134.71K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$99.82K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$178.66K	USD	Annual
Impairment expense	`AssetImpairmentCharges`	$2.43M	USD	Annual
Impairment expense	`AssetImpairmentCharges`	-	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$25.56K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$20.11K	USD	Annual
Total operating expenses	`OperatingExpenses`	$26.69M	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.32M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.32M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-26.69M	USD	Annual
Gain/(loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-3.93M	USD	Annual
Gain/(loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$58.08K	USD	Annual
Gain/(loss) on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	$165.00K	USD	Annual
Gain/(loss) on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	$37.50K	USD	Annual
Gain/(loss) on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	$165.00K	USD	Point-in-time
Gain (loss) on sale of investment	`GainOnSaleOfInvestments`	-	USD	Annual
Gain (loss) on sale of investment	`GainOnSaleOfInvestments`	$-12.15K	USD	Annual
Gain on recission of token agreements	`GainOnRecissionOfTokenAgreements`	$7.65M	USD	Annual
Gain on recission of token agreements	`GainOnRecissionOfTokenAgreements`	-	USD	Annual
Interest Expense	`InterestExpense`	$487.70K	USD	Annual
Interest Expense	`InterestExpense`	$303.59K	USD	Annual
Total other income (expense)	`OtherNoncashIncomeExpense`	$3.38M	USD	Annual
Total other income (expense)	`OtherNoncashIncomeExpense`	$-606.77K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-23.31M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-34.63M	USD	53 Qtrs
Net income (loss)	`NetIncomeLoss`	$-1.93M	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-1.74	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.12	USD	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.38M	shares	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	16.55M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-23.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-34.63M	USD	53 Qtrs
Net loss	`NetIncomeLoss`	$-1.93M	USD	Annual
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$-58.08K	USD	Annual
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$2.92M	USD	Annual
Gain on recission of token agreements	`GainOnRecissionOfTokenAgreements`	$7.65M	USD	Annual
Gain on recission of token agreements	`GainOnRecissionOfTokenAgreements`	-	USD	Annual
Initial loss on derivative liabilities	`DerivativeLossOnDerivative`	$-12.18K	USD	Annual
Initial loss on derivative liabilities	`DerivativeLossOnDerivative`	$1.13M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$426.38K	USD	Annual
Increase in note due to penalties	`IncreaseInNoteDueToPenalties`	-	USD	Annual
Increase in note due to penalties	`IncreaseInNoteDueToPenalties`	$33.93K	USD	Annual
Impairment expense	`ExplorationAbandonmentAndImpairmentExpense`	$2.43M	USD	Annual
Impairment expense	`ExplorationAbandonmentAndImpairmentExpense`	-	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$438.43K	USD	Annual
Stock based compensation	`AdjustmentsToAdditionalPaidInCapitalTaxEffectFromShareBasedCompensation`	$23.82M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$25.56K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$20.11K	USD	Annual
Imputed interest	`DefinedBenefitPlanInterestCost`	-	USD	Annual
Imputed interest	`DefinedBenefitPlanInterestCost`	$1.82K	USD	Annual
Loss on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	$165.00K	USD	Annual
Loss on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	$37.50K	USD	Annual
Loss on settlement of debts	`GainsLossesOnExtinguishmentOfDebt`	$165.00K	USD	Point-in-time
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$140.25K	USD	Annual
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$426.51K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$16.93K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-209.18K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$209.93K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-587.93K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-329.80K	USD	Annual
Purchase of intangible assets	`PaymentsForPurchaseOfOtherAssets1`	-	USD	Annual
Purchase of intangible assets	`PaymentsForPurchaseOfOtherAssets1`	$1.20K	USD	Annual
Increase in short-term investments	`IncreaseInShortTermInvestments`	-	USD	Annual
Increase in short-term investments	`IncreaseInShortTermInvestments`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-1.20K	USD	Annual
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$120.15K	USD	Annual
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$128.52K	USD	Annual
Payments on related party debts	`PaymentsToFundLongtermLoansToRelatedParties`	$175.50K	USD	Annual
Payments on related party debts	`PaymentsToFundLongtermLoansToRelatedParties`	$149.08K	USD	Annual
Proceeds of convertible loans, net	`ProceedsFromConvertibleDebt`	$766.38K	USD	Annual
Proceeds of convertible loans, net	`ProceedsFromConvertibleDebt`	$163.50K	USD	Annual
Proceeds from loans	`ProceedsFromLoans`	-	USD	Annual
Proceeds from loans	`ProceedsFromLoans`	$288.01K	USD	Annual
Payments on loans	`PaymentsForLoans`	$117.33K	USD	Annual
Payments on loans	`PaymentsForLoans`	$65.45K	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$645.58K	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$313.62K	USD	Annual
Net increase (decrease) in Cash	`CashPeriodIncreaseDecrease`	$314.58K	USD	Annual
Net increase (decrease) in Cash	`CashPeriodIncreaseDecrease`	$-274.31K	USD	Annual
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$2.97K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$2.97K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for tax	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for tax	`IncomeTaxesPaid`	-	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$1.94M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Shares and warrants for services, amount	`SharesAndWarrantsForServicesAmount`	$23.96M	USD	Annual
Shares and warrants for services, amount	`SharesAndWarrantsForServicesAmount`	$172.50K	USD	Annual
Shares and warrants issued for cash investments, amount	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Settlement of derivative liabilities, amount	`SettlementOfDerivativeLiabilitiesAmount`	$4.26M	USD	Annual
Conversion of Preferred to Common Stock, amount	`ConversionOfPreferredToCommonStockAmount`	-	USD	Annual
Conversion of Preferred to Common Stock, amount	`ConversionOfPreferredToCommonStockAmount`	-	USD	Annual
Imputed interest	`ImputedInterest`	$1.82K	USD	Annual
Shares issued for settlement of debt, amount	`SharesIssuedForSettlementOfDebtAmount`	$49.62K	USD	Annual
Shares issued upon exercise of warrants, amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	-	USD	Annual
Return of shares and warrants under rescission agreements	`ReturnOfSharesAndWarrantsUnderRescissionAgreements`	$-7.65M	USD	Annual
Net loss	`NetIncomeLoss`	$-23.31M	USD	Annual
Net loss	`NetIncomeLoss`	$-34.63M	USD	53 Qtrs
Net loss	`NetIncomeLoss`	$-1.93M	USD	Annual
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$217.50K	USD	Annual
Rescission of equity grant, amount	`RescissionOfEquityGrantAmount`	-	USD	Annual
Issuance of warrants	`IssuanceOfWarrants`	$265.94K	USD	Annual
Shares issued for warrant exercise, amount	`SharesIssuedForWarrantExerciseAmount`	-	USD	Annual
Shares issued to settle debt, amount	`ConversionOfStockAmountConverted1`	$240.00K	USD	Annual
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$1.94M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time

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