10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q3 2022

Filing Information

Form Type	10-Q
Accession Number	`0001477932-22-004445`
Period End Date	20220430
Filing Date	20220616
Fiscal Year	2022
Fiscal Period	Q3
XBRL Instance	thct_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 74 Income Statement 64 Cash Flow Statement 51 Stockholders Equity 39

Balance Sheet 74 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
Common Stock, Shares Authorized	`CommonStockSharesAuthorized`	500.00M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	32.49M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	29.29M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$3.82K	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$40.90K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	29.29M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.59K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	33.89M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$43.48K	USD	Point-in-time
Inventory	`InventoryGross`	$830.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryGross`	$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`	$48.13K	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
Physical silver assets	`PhysicalSilverAssets`	$152.78K	USD	Point-in-time
Physical silver assets	`PhysicalSilverAssets`	$152.78K	USD	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
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	213,300.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	218,000.00	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$9.48K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$530.00	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$16.26K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.75K	USD	Point-in-time
Total assets	`Assets`	$215.20K	USD	Point-in-time
Total assets	`Assets`	$480.07K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.45M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$970.45K	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$28.08K	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$50.05K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$124.86K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedParties`	$96.31K	USD	Point-in-time
Notes payable, net	`NotesPayable`	$25.00K	USD	Point-in-time
Notes payable, net	`NotesPayable`	-	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayable`	$561.35K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayable`	$576.03K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedPartyNet`	$200.00K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedPartyNet`	$200.00K	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$1.00M	USD	Point-in-time
Derivative liability	`DerivativeLiabilities`	$1.55M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$2.86M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.97M	USD	Point-in-time
Total liabilities	`Liabilities`	$2.86M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.97M	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 April 30, 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 April 30, 2022 and July 31, 2021, respectively	`CommonStockValue`	$29.29K	USD	Point-in-time
Stock payable	`StockPayable`	$622.04K	USD	Point-in-time
Stock payable	`StockPayable`	$658.89K	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`	$-38.39M	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 stockholders' deficit	`StockholdersEquity`	$-3.86M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.86M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$215.20K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$480.07K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	3 Qtrs
Revenues	`Revenues`	-	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	3 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	3 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Professional fees	`ProfessionalFees`	$23.39K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$43.15K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$161.46K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$132.91K	USD	3 Qtrs
Consulting fees	`ConsultingFees`	$17.98K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$487.71K	USD	3 Qtrs
Consulting fees	`ConsultingFees`	$161.53K	USD	3 Qtrs
Consulting fees	`ConsultingFees`	-	USD	1 Quarter
Salaries and wages	`SalariesAndWages`	$415.38K	USD	3 Qtrs
Salaries and wages	`SalariesAndWages`	$46.94K	USD	1 Quarter
Salaries and wages	`SalariesAndWages`	$149.04K	USD	3 Qtrs
Salaries and wages	`SalariesAndWages`	$46.94K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$167.99K	USD	3 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$81.21K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$33.44K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$148.60K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$169.51K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$123.53K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$611.46K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.21M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-123.53K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.21M	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-611.46K	USD	3 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-169.51K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-85.87K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-467.00K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-545.56K	USD	3 Qtrs
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$110.01K	USD	3 Qtrs
Interest expense	`InterestExpense`	$299.20K	USD	3 Qtrs
Interest expense	`InterestExpense`	$112.46K	USD	3 Qtrs
Interest expense	`InterestExpense`	$41.74K	USD	1 Quarter
Interest expense	`InterestExpense`	$95.40K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$-181.27K	USD	1 Quarter
Total other income (expense)	`OtherNoncashIncomeExpense`	$-189.19K	USD	3 Qtrs
Total other income (expense)	`OtherNoncashIncomeExpense`	$-658.02K	USD	3 Qtrs
Total other income (expense)	`OtherNoncashIncomeExpense`	$-508.75K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-752.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.05K	USD	5 Qtrs
Net loss	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-800.65K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-350.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.87M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-632.28K	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.03	USD	3 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.06	USD	3 Qtrs
Basic loss per common share	`EarningsPerShareBasic`	$-0.01	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	32.49M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	23.20M	shares	3 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	33.50M	shares	3 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	24.18M	shares	1 Quarter

Cash Flow Statement 51 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$1.87M	USD	3 Qtrs
Net loss	`ProfitLoss`	$800.65K	USD	3 Qtrs
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-85.87K	USD	1 Quarter
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-467.00K	USD	1 Quarter
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-545.56K	USD	3 Qtrs
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$110.01K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$243.40K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$14.68K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$108.55K	USD	3 Qtrs
Stock based compensation	`ShareBasedCompensation`	$440.05K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$12.24K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$11.45K	USD	3 Qtrs
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$18.30K	USD	3 Qtrs
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$38.90K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$203.78K	USD	3 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$481.00K	USD	3 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$21.97K	USD	3 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$8.66K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-352.33K	USD	3 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-395.36K	USD	3 Qtrs
Purchase of silver	`PurchaseOfSilver`	$152.78K	USD	3 Qtrs
Purchase of silver	`PurchaseOfSilver`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-152.78K	USD	3 Qtrs
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$82.59K	USD	3 Qtrs
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$63.17K	USD	3 Qtrs
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$34.62K	USD	3 Qtrs
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$61.31K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$147.00K	USD	3 Qtrs
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$506.50K	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	3 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$97.50K	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$25.00K	USD	3 Qtrs
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	-	USD	3 Qtrs
Repayments of convertible notes payable	`ProceedsFromRepaymentsOfNotesPayable`	-	USD	3 Qtrs
Repayments of convertible notes payable	`ProceedsFromRepaymentsOfNotesPayable`	$-25.00K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$103.05K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$502.77K	USD	3 Qtrs
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-292.31K	USD	3 Qtrs
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-2.34K	USD	3 Qtrs
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$43.24K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$3.82K	USD	Point-in-time
Beginning cash balance	`CashAndCashEquivalentsAtCarryingValue`	$40.90K	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`	$3.82K	USD	Point-in-time
Ending cash balance	`CashAndCashEquivalentsAtCarryingValue`	$40.90K	USD	Point-in-time
Derivative liability written off to additional paid in capital	`DerivativeLiabilityWrittenOffToAdditionalPaidInCapital`	$42.83K	USD	3 Qtrs
Derivative liability written off to additional paid in capital	`DerivativeLiabilityWrittenOffToAdditionalPaidInCapital`	-	USD	3 Qtrs
Shares issued for the conversion of debt	`DebtConversionConvertedInstrumentSharesIssued1`	62,000.00	shares	3 Qtrs

Stockholders Equity 39 line items

Line Item	Tag	Value	Unit	Period
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
Balance, amount	`StockholdersEquity`	$-3.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.23M	USD	Point-in-time
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$40.00K	USD	1 Quarter
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$22.00K	USD	5 Qtrs
Net loss	`NetIncomeLoss`	$-752.46K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-90.05K	USD	5 Qtrs
Net loss	`NetIncomeLoss`	$-359.82K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-800.65K	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-350.78K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.87M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-632.28K	USD	1 Quarter
Shares and warrants issued for services	`SharesAndWarrantsIssuedForServicesShares`	$108.55K	USD	1 Quarter
Cash received for stock	`CashReceivedForStockPayable`	$209.00K	USD	1 Quarter
Cash received for stock	`CashReceivedForStockPayable`	$12.00K	USD	1 Quarter
Cash received for stock	`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, shares	`SharesIssuedForCashShares`	$135.00K	USD	1 Quarter
Shares issued for cash, amount	`SharesIssuedForCashAmount`	-	USD	1 Quarter
Shares issued for services, amount	`SharesIssuedForServicesAmount`	$35.43K	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`	$-5.00K	USD	1 Quarter
Repurchase of common stock, amount	`RepurchaseOfCommonStockAmount`	$-92.50K	USD	1 Quarter
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
Balance, amount	`StockholdersEquity`	$-3.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.86M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.78M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.23M	USD	Point-in-time

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