10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q2 2021

Filing Information

Form Type	10-Q
Accession Number	`0001477932-21-001739`
Period End Date	20210131
Filing Date	20210329
Fiscal Year	2021
Fiscal Period	Q2
XBRL Instance	thct-20210131.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 67 Cash Flow Statement 58 Stockholders Equity 30

Balance Sheet 66 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`	$150.27K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$29.64K	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
Cash	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	24.18M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.46M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$12.97K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	24.18M	shares	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	21.46M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$43.24K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$163.24K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$15.41K	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$21.45K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$18.44K	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
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.66K	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
Total assets	`Assets`	$85.35K	USD	Point-in-time
Total assets	`Assets`	$197.09K	USD	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`	$632.26K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$11.31K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$8.47K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$154.36K	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`	$337.62K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$175.34K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$124.93K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$603.85K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$842.57K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.91M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.86M	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 24,177,860 and 21,461,784 shares issued and outstanding as of January 31, 2021 and July 31, 2020, respectively	`CommonStockValue`	$24.18K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 24,177,860 and 21,461,784 shares issued and outstanding as of January 31, 2021 and July 31, 2020, respectively	`CommonStockValue`	$21.46K	USD	Point-in-time
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 218,000 and 218,000 series A and B shares issued and outstanding as of January 31, 2021 and July 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 218,000 and 218,000 series A and B shares issued and outstanding as of January 31, 2021 and July 31, 2020, respectively	`PreferredStockValue`	-	USD	Point-in-time
Stock payable	`StockPayable`	$221.70K	USD	Point-in-time
Stock payable	`StockPayable`	$627.75K	USD	Point-in-time
Stock receivable	`StockReceivables`	$-6.90M	USD	Point-in-time
Stock receivable	`StockReceivables`	$-6.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.61M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.51M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-35.08M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.63M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.60M	USD	Point-in-time
Total stockholders' equity (deficit)	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$197.09K	USD	Point-in-time
Total liabilities and stockholders' equity (deficit)	`LiabilitiesAndStockholdersEquity`	$85.35K	USD	Point-in-time

Income Statement 67 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$89.22K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$180.80K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$109.52K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$199.09K	USD	2 Qtrs
Consulting fees	`ConsultingFees`	$136.55K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$143.55K	USD	2 Qtrs
Consulting fees	`ConsultingFees`	$129.62K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$166.50K	USD	2 Qtrs
Payroll expense	`PayrollExpense`	$93.88K	USD	2 Qtrs
Payroll expense	`PayrollExpense`	$55.16K	USD	1 Quarter
Payroll expense	`PayrollExpense`	$102.10K	USD	2 Qtrs
Payroll expense	`PayrollExpense`	$46.94K	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$42.85K	USD	1 Quarter
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$95.79K	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$78.53K	USD	2 Qtrs
General and administrative expenses	`SellingGeneralAndAdministrativeExpense`	$32.08K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$5.51K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.25K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.13K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.95K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$394.95K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$441.96K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$567.20K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$327.91K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-441.96K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-327.91K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-567.20K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-394.95K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$58.08K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-359.26K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-220.25K	USD	2 Qtrs
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$195.89K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$90.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$225.06K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$112.83K	USD	1 Quarter
Interest Expense	`InterestExpense`	$203.81K	USD	2 Qtrs
Total other income (expense)	`OtherNoncashIncomeExpense`	$-445.31K	USD	2 Qtrs
Total other income (expense)	`OtherNoncashIncomeExpense`	$-31.92K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$-472.09K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$-7.92K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-449.88K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.01M	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-867.04K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-449.88K	USD	2 Qtrs
Net income (loss)	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.08	USD	2 Qtrs
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.07	USD	1 Quarter
Basic income (loss) per common share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.04M	shares	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	22.73M	shares	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	13.07M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	23.68M	shares	1 Quarter

Cash Flow Statement 58 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-449.88K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.01M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-867.04K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-449.88K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$215.75K	USD	2 Qtrs
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$-195.89K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$169.92K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$193.11K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$108.55K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$251.62K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$5.51K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$8.25K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$4.13K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$11.95K	USD	2 Qtrs
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-12.97K	USD	2 Qtrs
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	-	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$313.10K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$133.01K	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$2.84K	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-210.99K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$2.24M	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-237.96K	USD	2 Qtrs
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-236.16K	USD	2 Qtrs
Increase in short-term investments	`IncreaseInShortTermInvestments`	-	USD	2 Qtrs
Increase in short-term investments	`IncreaseInShortTermInvestments`	$-168.45K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-168.45K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$82.59K	USD	2 Qtrs
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$20.57K	USD	2 Qtrs
Payments on related party debts	`PaymentsToFundLongtermLoansToRelatedParties`	$11.89K	USD	2 Qtrs
Payments on related party debts	`PaymentsToFundLongtermLoansToRelatedParties`	$54.39K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$297.50K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	2 Qtrs
Proceeds from loans	`ProceedsFromLoans`	$152.33K	USD	2 Qtrs
Proceeds from loans	`ProceedsFromLoans`	-	USD	2 Qtrs
Payments on loans	`PaymentsForLoans`	$25.00K	USD	2 Qtrs
Payments on loans	`PaymentsForLoans`	-	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$118.51K	USD	2 Qtrs
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$343.20K	USD	2 Qtrs
Net increase (decrease) in Cash	`CashPeriodIncreaseDecrease`	$-287.91K	USD	2 Qtrs
Net increase (decrease) in Cash	`CashPeriodIncreaseDecrease`	$107.03K	USD	2 Qtrs
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$150.27K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$29.64K	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`	$150.27K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$29.64K	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	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaidNet`	-	USD	2 Qtrs
Derivative Liability written off to Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalOther`	-	USD	2 Qtrs
Derivative Liability written off to Additional paid in capital	`AdjustmentsToAdditionalPaidInCapitalOther`	$42.83K	USD	2 Qtrs

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.72M	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
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$40.20K	USD	1 Quarter
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$40.00K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-449.88K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.01M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-145.47K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-867.04K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-449.88K	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Shares and warrants for services	`SharesAndWarrantsForServices`	$110.24K	USD	1 Quarter
Rescission of equity grant, amount	`RescissionOfEquityGrantAmount`	-	USD	1 Quarter
Shares and warrants issued for services	`SharesAndWarrantsIssuedForServices`	$108.55K	USD	1 Quarter
Cash received for stock payable	`CashReceivedForStockPayable`	$297.50K	USD	1 Quarter
Derivative written off to additional paid in capital	`DerivativeWrittenOffToAdditionalPaidInCapital`	$42.83K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-882.59K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.60M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.72M	USD	Point-in-time

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