10-K Filing

THC THERAPEUTICS, INC. CIK: 1404935 FY 2021

Filing Information

Form Type	10-K
Accession Number	`0001477932-22-001755`
Period End Date	20210731
Filing Date	20220331
Fiscal Year	2021
Fiscal Period	FY
XBRL Instance	thct-20210731.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 34 Cash Flow Statement 62 Stockholders Equity 18

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`	$43.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$4.59K	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
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Inventory	`InventoryNet`	$830.00	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	29.29M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	21.46M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$301.55K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	29.29M	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
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Physical silver assets	`PhysicalSilverAssets`	$152.78K	USD	Point-in-time
Physical silver assets	`PhysicalSilverAssets`	-	USD	Point-in-time
Fixed Assets, net	`PropertyPlantAndEquipmentNet`	$9.48K	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`	$21.45K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	218,000.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	218,300.00	shares	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$16.26K	USD	Point-in-time
Intangible Assets, net	`IntangibleAssetsNetExcludingGoodwill`	$20.66K	USD	Point-in-time
Total assets	`Assets`	$480.07K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	218,000.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	218,300.00	shares	Point-in-time
Total assets	`Assets`	$85.35K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$485.01K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$571.25K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$513.51K	USD	Point-in-time
Accrued liabilities due to related parties	`AccountsPayableRelatedPartiesCurrent`	$8.47K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$83.66K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$96.31K	USD	Point-in-time
Convertible Notes payable, net	`ConvertibleNotesPayable`	$305.11K	USD	Point-in-time
Convertible Notes payable, net	`ConvertibleNotesPayable`	$561.35K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$200.00K	USD	Point-in-time
Convertible Notes payable- Related party, net	`ConvertibleNotesPayableRelatedPartyNet`	$124.93K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$1.00M	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$735.50K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$1.83M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$1.83M	USD	Point-in-time
Commitments and Contingencies (See note 9)	`CommitmentsAndContingencies`	$100.00K	USD	Point-in-time
Commitments and Contingencies (See note 9)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 29,287,337 and 21,461,784 shares issued and outstanding as of July 31, 2021 and 2020, respectively	`CommonStockValue`	$21.46K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 29,287,337 and 21,461,784 shares issued and outstanding as of July 31, 2021 and 2020, respectively	`CommonStockValue`	$29.29K	USD	Point-in-time
Stock payable	`StockPayable`	$221.70K	USD	Point-in-time
Stock payable	`StockPayable`	$658.89K	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`	$40.25M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$39.55M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.63M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.52M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.74M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$480.07K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$85.35K	USD	Point-in-time

Income Statement 34 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`	$315.75K	USD	Annual
Professional fees	`ProfessionalFees`	$253.84K	USD	Annual
Consulting fees	`ConsultingFees`	$205.17K	USD	Annual
Consulting fees	`ConsultingFees`	$611.31K	USD	Annual
Salaries and wages	`SalariesAndWages`	$264.56K	USD	Annual
Salaries and wages	`SalariesAndWages`	$267.98K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$212.99K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$198.78K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.39M	USD	Annual
Total operating expenses	`OperatingExpenses`	$939.98K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.39M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-939.98K	USD	Annual
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-393.72K	USD	Annual
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$123.86K	USD	Annual
Loss on settlement of det	`GainsLossesOnExtinguishmentOfDebt`	$165.00K	USD	Annual
Loss on settlement of det	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Loss on sale of investment	`GainOnSaleOfInvestments`	-	USD	Annual
Loss on sale of investment	`GainOnSaleOfInvestments`	$12.15K	USD	Annual
Interest Expense	`InterestExpense`	$487.70K	USD	Annual
Interest Expense	`InterestExpense`	$551.75K	USD	Annual
Total other income (expense)	`OtherNoncashIncomeExpense`	$-945.47K	USD	Annual
Total other income (expense)	`OtherNoncashIncomeExpense`	$-540.99K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.89M	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.93M	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.08	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.12	USD	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	16.55M	shares	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	23.66M	shares	Annual

Cash Flow Statement 62 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-1.89M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.93M	USD	Annual
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$393.72K	USD	Annual
Loss on change in derivative liabilities	`LossOnChangeInDerivativeLiabilities`	$-136.04K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$277.85K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$426.38K	USD	Annual
Stock based compensation	`AdjustmentsToTaxEffectFromShareBasedCompensation`	$115.69K	USD	Annual
Stock based compensation	`AdjustmentsToTaxEffectFromShareBasedCompensation`	$438.43K	USD	Annual
Convertible loan increase due to default	`ConvertibleLoanIncreaseDueToDefault`	$179.96K	USD	Annual
Convertible loan increase due to default	`ConvertibleLoanIncreaseDueToDefault`	-	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$20.11K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$16.37K	USD	Annual
Loss on settlement of accounts payable	`GainsLossesOnExtinguishmentOfDebt`	$165.00K	USD	Annual
Loss on settlement of accounts payable	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Increase (decrease) in inventory	`IncreaseDecreaseInInventories`	$-830.00	USD	Annual
Increase (decrease) in inventory	`IncreaseDecreaseInInventories`	-	USD	Annual
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-4.59K	USD	Annual
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$140.25K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-86.24K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$498.51K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$505.04K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-209.18K	USD	Annual
Increase (decrease) in contingent liability	`IncreaseDecreaseInContingentLiabilities`	-	USD	Annual
Increase (decrease) in contingent liability	`IncreaseDecreaseInContingentLiabilities`	$100.00K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-388.48K	USD	Annual
Net cash from operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-587.93K	USD	Annual
Purchase of Silver assets	`PaymentsForPurchaseOfOtherAssets1`	$152.78K	USD	Annual
Purchase of Silver assets	`PaymentsForPurchaseOfOtherAssets1`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-152.78K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$91.08K	USD	Annual
Proceeds from related party debts	`ProceedsFromRelatedPartyDebt`	$128.52K	USD	Annual
Payments on related party debts	`PaymentsToFundLongtermLoansToRelatedParties`	$78.43K	USD	Annual
Payments on related party debts	`PaymentsToFundLongtermLoansToRelatedParties`	$149.08K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$506.50K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	Annual
Proceeds from sale of preferred stock	`ProceedsFromSaleOfPreferredStock`	-	USD	Annual
Proceeds from sale of preferred stock	`ProceedsFromSaleOfPreferredStock`	$300.00K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$163.50K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	Annual
Proceeds from loans	`ProceedsFromLoans`	-	USD	Annual
Proceeds from loans	`ProceedsFromLoans`	$288.01K	USD	Annual
Repayments of convertible notes payable	`RepaymentsOfConvertibleDebt`	$117.33K	USD	Annual
Repayments of convertible notes payable	`RepaymentsOfConvertibleDebt`	$25.00K	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$794.15K	USD	Annual
Net cash from financing activities	`NetCashProvidedByUsedInFinancingActivities`	$313.62K	USD	Annual
Net increase (decrease) in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$252.89K	USD	Annual
Net increase (decrease) in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-274.31K	USD	Annual
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$317.55K	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
Derivative Liability written off to additional paid in capital	`ServicingLiabilityAtFairValueAdditions`	$41.30K	USD	Annual
Derivative Liability written off to additional paid in capital	`ServicingLiabilityAtFairValueAdditions`	$128.00K	USD	Annual
Shares issued for the conversion of notes payable	`SharesIssuedForTheConversionOfNotesPayable`	-	USD	Annual
Shares issued for the conversion of notes payable	`SharesIssuedForTheConversionOfNotesPayable`	$101.50K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-1.74M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Shares and warrants for services, amount	`SharesAndWarrantsForServicesAmount`	$172.50K	USD	Annual
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$101.50K	USD	Annual
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$217.50K	USD	Annual
Issuance of warrants	`PreferredStockCapitalSharesReservedAmount`	$265.94K	USD	Annual
Shares issued to settle debt, amount	`ConversionOfStockAmountConvertedAmount`	$240.00K	USD	Annual
Derivative liability written off to additional paid in capital	`DerivativeGainLossOnDerivativesNet`	$41.30K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.89M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.93M	USD	Annual
Shares and warrants issued for services	`SharesAndWarrantsIssuedForServices`	$115.69K	USD	Annual
Common stock issued for cash, amount	`CommonStockSharesIssueAmount`	$506.50K	USD	Annual
Preferred stock issued for cash, amount	`PreferredStocksValueAmount`	$300.00K	USD	Annual
Derivative liability written off to additional paid in capital	`DerivativeLiabilityWrittenOffToAdditionalPaidInCapital`	$128.00K	USD	Annual
Balance, amount	`StockholdersEquity`	$-1.74M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-749.41K	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time

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