10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q1 2021

Filing Information

Form Type	10-Q
Accession Number	`0001477932-20-007372`
Period End Date	20201031
Filing Date	20201217
Fiscal Year	2021
Fiscal Period	Q1
XBRL Instance	thct-20201031.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 63 Income Statement 33 Cash Flow Statement 43 Stockholders Equity 15

Balance Sheet 63 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
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$998.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$53.99K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$998.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$43.24K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	22.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.46M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	257,661.00	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$21.45K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.46M	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$18.43K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	22.18M	shares	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$19.55K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.66K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	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
Total assets	`Assets`	$38.98K	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 issued	`PreferredStockSharesIssued`	218,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	218,000.00	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`	$556.43K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$8.47K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$9.57K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$83.66K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$110.94K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayable`	$353.84K	USD	Point-in-time
Convertible notes payable, net	`ConvertibleNotesPayable`	$305.11K	USD	Point-in-time
Convertible notes payable - Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$150.14K	USD	Point-in-time
Convertible notes payable - Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$124.93K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$842.57K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$704.77K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.89M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.86M	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 22,180,692 and 21,461,784 shares issued and outstanding as of October 31, 2020 and July 31, 2020, respectively	`CommonStockValue`	$22.18K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 22,180,692 and 21,461,784 shares issued and outstanding as of October 31, 2020 and July 31, 2020, respectively	`CommonStockValue`	$21.46K	USD	Point-in-time
Stock payable	`StockPayable`	$221.70K	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`	$39.53M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.72M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$38.98K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$85.35K	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock value	`PreferredStockValue`	-	USD	Point-in-time

Income Statement 33 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`	$20.30K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$18.29K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$7.00K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$36.89K	USD	1 Quarter
Payroll expense	`PayrollExpense`	$46.94K	USD	1 Quarter
Payroll expense	`PayrollExpense`	$46.94K	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$63.70K	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$35.68K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.44K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.13K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$114.05K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$172.26K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-114.05K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-172.26K	USD	1 Quarter
Gain on derivative liability	`DerivativeGainLossOnDerivativeNet`	$137.81K	USD	1 Quarter
Gain on derivative liability	`DerivativeGainLossOnDerivativeNet`	$139.01K	USD	1 Quarter
Interest Expense	`InterestExpense`	$113.81K	USD	1 Quarter
Interest Expense	`InterestExpense`	$112.22K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$24.00K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$26.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-34.72M	USD	54 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	-	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	21.78M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	14.75M	shares	1 Quarter

Cash Flow Statement 43 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-34.72M	USD	54 Qtrs
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$-137.81K	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`	$95.93K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$2.26K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$6.44K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.13K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$57.18K	USD	1 Quarter
Increase in accounts payable	`IncreaseDecreaseInAccountsPayable`	$249.00K	USD	1 Quarter
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.09K	USD	1 Quarter
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-201.25K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-69.52K	USD	1 Quarter
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-131.61K	USD	1 Quarter
Increase in short-term investments	`IncreaseInShortTermInvestments`	$-168.12K	USD	1 Quarter
Increase in short-term investments	`IncreaseInShortTermInvestments`	-	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-168.12K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$35.89K	USD	1 Quarter
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$20.57K	USD	1 Quarter
Payments on related party debts	`PaymentsForAdvanceToAffiliate`	$8.62K	USD	1 Quarter
Payments on related party debts	`PaymentsForAdvanceToAffiliate`	$54.39K	USD	1 Quarter
Proceeds from loans	`ProceedsFromLoans`	$70.00K	USD	1 Quarter
Proceeds from loans	`ProceedsFromLoans`	-	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$36.17K	USD	1 Quarter
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$27.28K	USD	1 Quarter
Net increase (decrease) in Cash	`CashPeriodIncreaseDecrease`	$-263.56K	USD	1 Quarter
Net increase (decrease) in Cash	`CashPeriodIncreaseDecrease`	$-42.24K	USD	1 Quarter
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$998.00	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$53.99K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$998.00	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$53.99K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	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 15 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Shares and warrants for services, amount	`SharesAndWarrantsForServicesAmount`	$2.26K	USD	1 Quarter
Conversion of Preferred to Common Stock, amount	`ConversionOfPreferredToCommonStockAmount`	-	USD	1 Quarter
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$22.00K	USD	1 Quarter
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$10.03K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-34.72M	USD	54 Qtrs
Balance, amount	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.85M	USD	Point-in-time

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