10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q2 2022

Filing Information

Form Type	10-Q
Accession Number	`0001477932-22-003539`
Period End Date	20220131
Filing Date	20220516
Fiscal Year	2022
Fiscal Period	Q2
XBRL Instance	thct_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 70 Income Statement 62 Cash Flow Statement 56 Stockholders Equity 30

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`	$43.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$150.27K	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`	$296.13K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$25.21K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$4.59K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	32.49M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$14.68K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	29.29M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	32.49M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	29.29M	shares	Point-in-time
Inventory	`InventoryGross`	$830.00	USD	Point-in-time
Inventory	`InventoryGross`	$830.00	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$40.72K	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
Total Current Assets	`AssetsCurrent`	$301.55K	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
Physical Silver Assets	`PhysicalSilverAssets`	$152.78K	USD	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
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	213,300.00	shares	Point-in-time
Fixed Assets, Net	`PropertyPlantAndEquipmentNet`	$9.48K	USD	Point-in-time
Fixed Assets, Net	`PropertyPlantAndEquipmentNet`	$3.45K	USD	Point-in-time
Intangible Assets, Net	`IntangibleAssetsNetExcludingGoodwill`	$16.26K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	213,300.00	shares	Point-in-time
Intangible Assets, Net	`IntangibleAssetsNetExcludingGoodwill`	$14.09K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	218,000.00	shares	Point-in-time
Total Assets	`Assets`	$211.05K	USD	Point-in-time
Total Assets	`Assets`	$480.07K	USD	Point-in-time
Accounts Payable And Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$485.01K	USD	Point-in-time
Accounts Payable And Accrued Liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$812.10K	USD	Point-in-time
Accrued Liabilities Due To Related Parties	`AccountsPayableRelatedPartiesCurrent`	$596.97K	USD	Point-in-time
Accrued Liabilities Due To Related Parties	`AccountsPayableRelatedPartiesCurrent`	$513.51K	USD	Point-in-time
Advances From Related Parties	`AdvancesFromRelatedParties`	$96.31K	USD	Point-in-time
Advances From Related Parties	`AdvancesFromRelatedParties`	$79.86K	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`	$1.00M	USD	Point-in-time
Derivative Liability	`DerivativeLiabilities`	$1.08M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.86M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$3.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.34M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.86M	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; 32,491,671 And 29,287,337 Shares Issued And 33,891,671 And 29,287,337 Shares Outstanding As Of January 31, 2022 And July 31, 2021, Respectively	`CommonStockValue`	$32.49K	USD	Point-in-time
Common Stock; $0.001 Par Value; 500,000,000 Shares Authorized; 32,491,671 And 29,287,337 Shares Issued And 33,891,671 And 29,287,337 Shares Outstanding As Of January 31, 2022 And July 31, 2021, Respectively	`CommonStockValue`	$29.29K	USD	Point-in-time
Stock Payable	`StockPayable`	$658.89K	USD	Point-in-time
Stock Payable	`StockPayable`	$615.04K	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`	$40.25M	USD	Point-in-time
Additional Paid-in Capital	`AdditionalPaidInCapital`	$40.78M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-36.52M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-37.76M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Total Stockholders' Deficit	`StockholdersEquity`	$-1.72M	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 Liabilities And Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$211.05K	USD	Point-in-time
Total Liabilities And Stockholders' Deficit	`LiabilitiesAndStockholdersEquity`	$480.07K	USD	Point-in-time

Income Statement 62 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Cost Of Revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost Of Revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost Of Revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost Of Revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Gross Profit	`GrossProfit`	-	USD	2 Qtrs
Gross Profit	`GrossProfit`	-	USD	2 Qtrs
Gross Profit	`GrossProfit`	-	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$35.46K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$118.31K	USD	2 Qtrs
Professional Fees	`ProfessionalFees`	$109.52K	USD	2 Qtrs
Professional Fees	`ProfessionalFees`	$89.22K	USD	1 Quarter
Consulting Fees	`ConsultingFees`	$443.29K	USD	1 Quarter
Consulting Fees	`ConsultingFees`	$487.71K	USD	2 Qtrs
Consulting Fees	`ConsultingFees`	$136.55K	USD	1 Quarter
Consulting Fees	`ConsultingFees`	$143.55K	USD	2 Qtrs
Salaries And Wages	`SalariesAndWages`	$102.10K	USD	2 Qtrs
Salaries And Wages	`SalariesAndWages`	$368.44K	USD	2 Qtrs
Salaries And Wages	`SalariesAndWages`	$55.16K	USD	1 Quarter
Salaries And Wages	`SalariesAndWages`	$289.24K	USD	1 Quarter
General And Administrative	`SellingGeneralAndAdministrativeExpense`	$86.78K	USD	2 Qtrs
General And Administrative	`SellingGeneralAndAdministrativeExpense`	$52.70K	USD	1 Quarter
General And Administrative	`SellingGeneralAndAdministrativeExpense`	$46.98K	USD	1 Quarter
General And Administrative	`SellingGeneralAndAdministrativeExpense`	$115.16K	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$868.08K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$327.91K	USD	1 Quarter
Total Operating Expenses	`OperatingExpenses`	$1.09M	USD	2 Qtrs
Total Operating Expenses	`OperatingExpenses`	$441.96K	USD	2 Qtrs
Loss From Operations	`OperatingIncomeLoss`	$-441.96K	USD	2 Qtrs
Loss From Operations	`OperatingIncomeLoss`	$-327.91K	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-868.08K	USD	1 Quarter
Loss From Operations	`OperatingIncomeLoss`	$-1.09M	USD	2 Qtrs
Gain (loss) On Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$58.08K	USD	1 Quarter
Gain (loss) On Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$195.89K	USD	2 Qtrs
Gain (loss) On Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$145.14K	USD	1 Quarter
Gain (loss) On Derivative Liability	`DerivativeGainLossOnDerivativeNet`	$-78.55K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$29.53K	USD	1 Quarter
Interest Expense	`InterestExpense`	$70.72K	USD	2 Qtrs
Interest Expense	`InterestExpense`	$90.00K	USD	1 Quarter
Interest Expense	`InterestExpense`	$203.81K	USD	2 Qtrs
Total Other Income (expense)	`OtherNoncashIncomeExpense`	$115.61K	USD	1 Quarter
Total Other Income (expense)	`OtherNoncashIncomeExpense`	$-31.92K	USD	1 Quarter
Total Other Income (expense)	`OtherNoncashIncomeExpense`	$-7.92K	USD	2 Qtrs
Total Other Income (expense)	`OtherNoncashIncomeExpense`	$-149.27K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-449.88K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.24M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-752.46K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Basic Loss Per Common Share	`EarningsPerShareBasic`	$-0.02	USD	2 Qtrs
Basic Loss Per Common Share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic Loss Per Common Share	`EarningsPerShareBasic`	$-0.04	USD	2 Qtrs
Basic Loss Per Common Share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	23.68M	shares	1 Quarter
Basic Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	33.98M	shares	2 Qtrs
Basic Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	35.69M	shares	1 Quarter
Basic Weighted Average Common Shares Outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	22.73M	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-449.88K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.24M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-752.46K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Loss (gain) On Change In Derivative Liabilities	`DerivativeGainLossOnDerivativeNet`	$58.08K	USD	1 Quarter
Loss (gain) On Change In Derivative Liabilities	`DerivativeGainLossOnDerivativeNet`	$195.89K	USD	2 Qtrs
Loss (gain) On Change In Derivative Liabilities	`DerivativeGainLossOnDerivativeNet`	$145.14K	USD	1 Quarter
Loss (gain) On Change In Derivative Liabilities	`DerivativeGainLossOnDerivativeNet`	$-78.55K	USD	2 Qtrs
Amortization Of Debt Discount	`AmortizationOfDebtDiscountPremium`	$169.92K	USD	2 Qtrs
Amortization Of Debt Discount	`AmortizationOfDebtDiscountPremium`	$14.68K	USD	2 Qtrs
Stock Based Compensation	`ShareBasedCompensation`	$440.05K	USD	2 Qtrs
Stock Based Compensation	`ShareBasedCompensation`	$108.55K	USD	2 Qtrs
Depreciation And Amortization	`DepreciationAndAmortization`	$8.25K	USD	2 Qtrs
Depreciation And Amortization	`DepreciationAndAmortization`	$8.20K	USD	2 Qtrs
Imputed Interest	`ImputedInterest`	-	USD	2 Qtrs
Imputed Interest	`ImputedInterest`	-	USD	2 Qtrs
Loss On Settlement Of Accounts Payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	2 Qtrs
Loss On Settlement Of Accounts Payable	`IncreaseDecreaseInOtherAccountsPayable`	-	USD	2 Qtrs
Increase (decrease) In Prepaid Assets	`IncreaseDecreaseInPrepaidExpense`	$12.97K	USD	2 Qtrs
Increase (decrease) In Prepaid Assets	`IncreaseDecreaseInPrepaidExpense`	$10.09K	USD	2 Qtrs
Increase (decrease) In Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$327.09K	USD	2 Qtrs
Increase (decrease) In Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$133.01K	USD	2 Qtrs
Increase (decrease) In Accounts Payable Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$83.46K	USD	2 Qtrs
Increase (decrease) In Accounts Payable Related Party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$2.84K	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-236.16K	USD	2 Qtrs
Net Cash Used In Operating Activities	`NetCashProvidedByUsedInOperatingActivities`	$-296.96K	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Net Cash Used In Investing Activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Proceeds From Related Party Advances	`ProceedsFromRelatedPartyDebt`	$82.59K	USD	2 Qtrs
Proceeds From Related Party Advances	`ProceedsFromRelatedPartyDebt`	$13.72K	USD	2 Qtrs
Payments On Related Party Advances	`RepaymentsOfRelatedPartyDebt`	$11.89K	USD	2 Qtrs
Payments On Related Party Advances	`RepaymentsOfRelatedPartyDebt`	$30.18K	USD	2 Qtrs
Proceeds From Sale Of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$297.50K	USD	2 Qtrs
Proceeds From Sale Of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$135.00K	USD	2 Qtrs
Repurchase Of Common Stock	`PaymentsForRepurchaseOfCommonStock`	$92.50K	USD	2 Qtrs
Repurchase Of Common Stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Repayments Of Convertible Notes Payable	`ProceedsFromRepaymentsOfNotesPayable`	-	USD	2 Qtrs
Repayments Of Convertible Notes Payable	`ProceedsFromRepaymentsOfNotesPayable`	$-25.00K	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$343.20K	USD	2 Qtrs
Net Cash Provided By Financing Activities	`NetCashProvidedByUsedInFinancingActivities`	$26.04K	USD	2 Qtrs
Net Decrease In Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-270.92K	USD	2 Qtrs
Net Decrease In Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$107.03K	USD	2 Qtrs
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$150.27K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Beginning Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$25.21K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$150.27K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Ending Cash Balance	`CashAndCashEquivalentsAtCarryingValue`	$25.21K	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

Stockholders Equity 30 line items

Line Item	Tag	Value	Unit	Period
Balance, Amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.85M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Shares Issued For Conversion Of Convertible Debt, Amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$22.00K	USD	1 Quarter
Shares Issued For Conversion Of Convertible Debt, Amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$40.00K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-90.05K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-449.88K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.24M	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-752.46K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Shares And Warrants Issued For Services	`SharesAndWarrantsIssuedForServicesShares`	108,552.00	shares	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
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	`SharesIssuedForServicesAmount`	$35.43K	USD	1 Quarter
Shares Issued For Cash	`SharesIssuedForCash`	$135.00K	USD	1 Quarter
Shares And Warrants Issued For Services, Amount	`SharesAndWarrantsIssuedForServicesAmount`	$404.62K	USD	1 Quarter
Shares Cancelled, Amount	`SharesCancelledAmount`	-	USD	1 Quarter
Repurchase Of Common Stock, Amount	`RepurchaseOfCommonStockAmount`	$-92.50K	USD	1 Quarter
Balance, Amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.72M	USD	Point-in-time
Balance, Amount	`StockholdersEquity`	$-1.85M	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.