10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q1 2022

Filing Information

Form Type	10-Q
Accession Number	`0001477932-22-003529`
Period End Date	20211031
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q1
XBRL Instance	thct_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 32 Cash Flow Statement 47 Stockholders Equity 15

Balance Sheet 70 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`	$125.14K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$998.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$16.89K	USD	Point-in-time
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	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`	$40.90K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$4.59K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	29.29M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	33.44M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$9.11K	USD	Point-in-time
Inventory	`InventoryNet`	$830.00	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	29.29M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	33.44M	shares	Point-in-time
Inventory	`InventoryNet`	$830.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$301.55K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$135.08K	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`	$152.78K	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`	218,000.00	shares	Point-in-time
Fixed Assets, Net	`PropertyPlantAndEquipmentNet`	$9.48K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	213,300.00	shares	Point-in-time
Fixed Assets, Net	`PropertyPlantAndEquipmentNet`	$6.46K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	213,300.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	218,000.00	shares	Point-in-time
Intangible Assets, Net	`IntangibleAssetsNetExcludingGoodwill`	$16.26K	USD	Point-in-time
Intangible Assets, Net	`IntangibleAssetsNetExcludingGoodwill`	$15.15K	USD	Point-in-time
Total Assets	`Assets`	$480.07K	USD	Point-in-time
Total Assets	`Assets`	$309.48K	USD	Point-in-time
Accounts Payable And Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$485.01K	USD	Point-in-time
Accounts Payable And Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$493.84K	USD	Point-in-time
Accrued Liabilities Due To Related Parties	`AccountsPayableRelatedPartiesCurrent`	$513.51K	USD	Point-in-time
Accrued Liabilities Due To Related Parties	`AccountsPayableRelatedPartiesCurrent`	$559.03K	USD	Point-in-time
Advances From Related Parties	`AdvancesFromRelatedParties`	$96.31K	USD	Point-in-time
Advances From Related Parties	`AdvancesFromRelatedParties`	$84.00K	USD	Point-in-time
Convertible Notes Payable, Net	`ConvertibleNotesPayable`	$561.35K	USD	Point-in-time
Convertible Notes Payable, Net	`ConvertibleNotesPayable`	$576.03K	USD	Point-in-time
Convertible Notes Payable- Related Party, Net	`ConvertibleNotesPayableRelatedPartyNet`	$200.00K	USD	Point-in-time
Convertible Notes Payable- Related Party, Net	`ConvertibleNotesPayableRelatedPartyNet`	$200.00K	USD	Point-in-time
Derivative Liability	`DerivativeLiabilities`	$1.22M	USD	Point-in-time
Derivative Liability	`DerivativeLiabilities`	$1.00M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.86M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.14M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.86M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.14M	USD	Point-in-time
Commitments And Contingencies (see Note 9)	`CommitmentsAndContingencies`	$100.00K	USD	Point-in-time
Commitments And Contingencies (see Note 9)	`CommitmentsAndContingencies`	$100.00K	USD	Point-in-time
Common Stock; $0.001 Par Value; 500,000,000 Shares Authorized; 33,437,171 And 29,287,337 Shares Issued And Outstanding As Of October 31, 2021 And July 31, 2021, Respectively	`CommonStockValue`	$33.44K	USD	Point-in-time
Common Stock; $0.001 Par Value; 500,000,000 Shares Authorized; 33,437,171 And 29,287,337 Shares Issued And Outstanding As Of October 31, 2021 And July 31, 2021, Respectively	`CommonStockValue`	$29.29K	USD	Point-in-time
Stock Payable	`StockPayable`	$456.12K	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`	$40.49M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-37.00M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-36.52M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total Liabilities And Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$309.48K	USD	Point-in-time
Total Liabilities And Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$480.07K	USD	Point-in-time

Income Statement 32 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`	$132.91K	USD	3 Qtrs
Professional Fees	`ProfessionalFees`	$20.30K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$35.46K	USD	1 Quarter
Consulting Fees	`ConsultingFees`	$44.43K	USD	1 Quarter
Consulting Fees	`ConsultingFees`	$7.00K	USD	1 Quarter
Salaries And Wages	`SalariesAndWages`	$46.94K	USD	1 Quarter
Salaries And Wages	`SalariesAndWages`	$79.20K	USD	1 Quarter
General And Administrative	`SellingGeneralAndAdministrativeExpense`	$39.81K	USD	1 Quarter
General And Administrative	`SellingGeneralAndAdministrativeExpense`	$62.46K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$221.56K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$114.05K	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-114.05K	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-221.56K	USD	1 Quarter
Gain (loss) On Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$-223.69K	USD	1 Quarter
Gain (loss) On Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$137.81K	USD	1 Quarter
Interest Expense	`InterestExpense`	$113.81K	USD	1 Quarter
Interest Expense	`InterestExpense`	$41.19K	USD	1 Quarter
Total Other Income (expense)	`OtherNoncashIncomeExpense`	$24.00K	USD	1 Quarter
Total Other Income (expense)	`OtherNoncashIncomeExpense`	$-264.88K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	3 Qtrs
Basic Loss Per Common Share	`BasicLossPerCommonShare`	-	USD	1 Quarter
Basic Loss Per Common Share	`BasicLossPerCommonShare`	$-0.02	USD	1 Quarter
Basic Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	32.28M	shares	1 Quarter
Basic Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	21.78M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	3 Qtrs
Loss (gain) On Change In Derivative Liabilities	`LossGainOnChangeInDerivativeLiabilities`	$-137.81K	USD	1 Quarter
Loss (gain) On Change In Derivative Liabilities	`LossGainOnChangeInDerivativeLiabilities`	$223.69K	USD	1 Quarter
Amortization Of Debt Discount	`AmortizationOfDebtDiscountPremium`	$14.68K	USD	1 Quarter
Amortization Of Debt Discount	`AmortizationOfDebtDiscountPremium`	$243.40K	USD	3 Qtrs
Amortization Of Debt Discount	`AmortizationOfDebtDiscountPremium`	$95.93K	USD	1 Quarter
Stock Based Compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock Based Compensation	`ShareBasedCompensation`	$35.43K	USD	1 Quarter
Depreciation And Amortization	`DepreciationAndAmortization`	$4.13K	USD	1 Quarter
Depreciation And Amortization	`DepreciationAndAmortization`	$4.13K	USD	1 Quarter
Increase (decrease) In Prepaid Assets	`IncreaseDecreaseInPrepaidExpense`	$-4.53K	USD	1 Quarter
Increase (decrease) In Prepaid Assets	`IncreaseDecreaseInPrepaidExpense`	-	USD	1 Quarter
Increase (decrease) In Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$8.83K	USD	1 Quarter
Increase (decrease) In Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$57.18K	USD	1 Quarter
Increase (decrease) In Accounts Payable Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$1.09K	USD	1 Quarter
Increase (decrease) In Accounts Payable Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$45.52K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-69.52K	USD	1 Quarter
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-158.68K	USD	3 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-158.68K	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	1 Quarter
Proceeds From Related Party Advances	`ProceedsFromRelatedPartyDebt`	$35.89K	USD	1 Quarter
Proceeds From Related Party Advances	`ProceedsFromRelatedPartyDebt`	$13.72K	USD	1 Quarter
Payments On Related Party Advances	`RepaymentsOfRelatedPartyDebt`	$8.62K	USD	1 Quarter
Payments On Related Party Advances	`RepaymentsOfRelatedPartyDebt`	$26.03K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$27.28K	USD	1 Quarter
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.31K	USD	1 Quarter
Net Decrease In Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-42.24K	USD	1 Quarter
Net Decrease In Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-170.99K	USD	1 Quarter
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$125.14K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$998.00	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.89K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$40.90K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$125.14K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$998.00	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$16.89K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$40.90K	USD	Point-in-time
Cash Paid For Interest	`InterestPaidNet`	-	USD	1 Quarter
Cash Paid For Interest	`InterestPaidNet`	-	USD	1 Quarter
Cash Paid For Tax	`IncomeTaxesPaidNet`	-	USD	1 Quarter
Cash Paid For Tax	`IncomeTaxesPaidNet`	-	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance, Amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Shares Issued For Conversion Of Convertible Debt, Amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$22.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	3 Qtrs
Conversion Of Preferred Shares Into Common Stock Shares, Amount	`ConversionOfPreferredSharesIntoCommonStockSharesAmount`	-	USD	1 Quarter
Shares Issued For Cash, Amount	`SharesIssuedForCashAmount`	-	USD	1 Quarter
Shares Issued For Services, Amount	`SharesIssuedForServiceAmount`	$35.43K	USD	1 Quarter
Balance, Amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-2.48M	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.