10-K Filing

THC THERAPEUTICS, INC. CIK: 1404935 FY 2022

Filing Information

Form Type	10-K
Accession Number	`0001477932-22-008875`
Period End Date	20220731
Filing Date	20221125
Fiscal Year	2022
Fiscal Period	FY
XBRL Instance	thct_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 30 Cash Flow Statement 59 Stockholders Equity 17

Balance Sheet 67 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
Common Stock, Shares Issued	`CommonStockSharesIssued`	29.29M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	33.89M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$32.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$296.13K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	33.89M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$40.66K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	29.29M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$4.59K	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$25.00	USD	Point-in-time
Inventory	`InventoryNet`	$830.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$301.55K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$40.71K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	218,000.00	shares	Point-in-time
Physical silver assets	`PhysicalSilverAssetsNet`	$152.78K	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	226,300.00	shares	Point-in-time
Physical silver assets	`PhysicalSilverAssetsNet`	$152.78K	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	$9.48K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	226,300.00	shares	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	218,000.00	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.40K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$16.26K	USD	Point-in-time
Total assets	`Assets`	$206.90K	USD	Point-in-time
Total assets	`Assets`	$480.07K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$970.45K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$28.08K	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$16.81K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$96.31K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$144.63K	USD	Point-in-time
Notes payable, net	`NotesPayableCurrent`	-	USD	Point-in-time
Notes payable, net	`NotesPayableCurrent`	$25.00K	USD	Point-in-time
Convertible notes payable	`ConvertibleDebtCurrent`	$561.35K	USD	Point-in-time
Convertible notes payable	`ConvertibleDebtCurrent`	$576.03K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedPartyNetCurrent`	$200.00K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedPartyNetCurrent`	$200.00K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$673.71K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$1.00M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.22M	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`	$3.22M	USD	Point-in-time
Commitments and Contingencies (See note 10)	`CommitmentsAndContingencies`	$100.00K	USD	Point-in-time
Commitments and Contingencies (See note 10)	`CommitmentsAndContingencies`	$100.00K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 33,891,671 and 29,287,337 shares issued and outstanding as of July 31, 2022 and 2021, respectively	`CommonStockValue`	$32.49K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 33,891,671 and 29,287,337 shares issued and outstanding as of July 31, 2022 and 2021, respectively	`CommonStockValue`	$29.29K	USD	Point-in-time
Stock payable	`StockPayable`	$658.89K	USD	Point-in-time
Stock payable	`StockPayable`	$622.28K	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`	$41.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.04M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-36.52M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-1.74M	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`	$206.90K	USD	Point-in-time

Income Statement 30 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`	$253.84K	USD	Annual
Professional fees	`ProfessionalFees`	$178.90K	USD	Annual
Consulting fees	`ConsultingFees`	$966.53K	USD	Annual
Consulting fees	`ConsultingFees`	$205.17K	USD	Annual
Salaries and wages	`SalariesAndWages`	$462.32K	USD	Annual
Salaries and wages	`SalariesAndWages`	$267.98K	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$212.99K	USD	Annual
General and administrative	`SellingGeneralAndAdministrativeExpense`	$138.28K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.75M	USD	Annual
Total operating expenses	`OperatingExpenses`	$939.98K	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.75M	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`	$327.50K	USD	Annual
Interest expense	`InterestExpense`	$100.40K	USD	Annual
Interest expense	`InterestExpense`	$551.75K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$-945.47K	USD	Annual
Total other income (expense)	`NonoperatingIncomeExpense`	$227.10K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.52M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.89M	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.08	USD	Annual
Basic loss per common share	`EarningsPerShareBasic`	$-0.05	USD	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	33.24M	shares	Annual
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	23.66M	shares	Annual

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.89M	USD	Annual
Net loss	`ProfitLoss`	$-1.52M	USD	Annual
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-393.72K	USD	Annual
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$327.50K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$14.68K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$277.85K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$836.79K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$115.69K	USD	Annual
Convertible loan increase due to default	`ConvertibleLoanIncreaseDueToDefault`	-	USD	Annual
Convertible loan increase due to default	`ConvertibleLoanIncreaseDueToDefault`	$179.96K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$16.37K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$12.33K	USD	Annual
Imputed interest	`ImputedInterest`	-	USD	Annual
Imputed interest	`ImputedInterest`	-	USD	Annual
Loss on settlement of accounts payable	`GainsLossesOnExtinguishmentOfDebt`	-	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`	$-805.00	USD	Annual
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$36.07K	USD	Annual
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$4.59K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$610.24K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$-86.24K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties1`	$505.04K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties1`	$-11.27K	USD	Annual
Increase (decrease) in contingent liability	`IncreaseDecreaseInContingentLiabilities`	-	USD	Annual
Increase (decrease) in contingent liability	`IncreaseDecreaseInContingentLiabilities`	$100.00K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-418.92K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-388.48K	USD	Annual
Purchase of silver	`PurchasedSilverBarsAndCoinsAmount`	$152.78K	USD	Annual
Purchase of silver	`PurchasedSilverBarsAndCoinsAmount`	-	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 advances	`ProceedsFromRelatedPartyDebt`	$102.88K	USD	Annual
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$91.08K	USD	Annual
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$54.56K	USD	Annual
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$78.43K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$147.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$506.50K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$97.50K	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	`ProceedsFromNotesPayable`	-	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromNotesPayable`	$25.00K	USD	Annual
Repayments of convertible notes payable	`RepaymentsOfNotesPayable`	$25.00K	USD	Annual
Repayments of convertible notes payable	`RepaymentsOfNotesPayable`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$794.15K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$122.82K	USD	Annual
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-296.10K	USD	Annual
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$252.89K	USD	Annual
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.24K	USD	Point-in-time
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$43.24K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Derivative liability written off to additional paid in capital	`DerivativeLiabilityWrittenOffToAdditionalPaidInCapital`	$128.00K	USD	Annual
Derivative liability written off to additional paid in capital	`DerivativeLiabilityWrittenOffToAdditionalPaidInCapital`	-	USD	Annual
Shares issued for the conversion of debt	`DebtConversionConvertedInstrumentSharesIssued1`	101,500.00	shares	Annual

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.74M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Shares issued for conversion of convertible debt, amount	`SharesIssuedForConversionOfConvertibleDebtAmount`	$101.50K	USD	Annual
Shares and warrants issued for services, amount	`SharesAndWarrantsIssuedForServicesAmount`	$836.79K	USD	Annual
Shares and warrants issued for services, amount	`SharesAndWarrantsIssuedForServicesAmount`	$115.69K	USD	Annual
Common Stock issued for cash, amount	`StockIssuedDuringPeriodValueNewIssues`	$506.50K	USD	Annual
Common Stock issued for cash, amount	`StockIssuedDuringPeriodValueNewIssues`	$147.00K	USD	Annual
Preferred stock issued for cash, amount	`PreferredStockIssuedForCashAmount`	$300.00K	USD	Annual
Derivative liability written off to additional paid in capital	`DerivativeLiabilityWrittenOffToAdditionalPaidInCapital`	$128.00K	USD	Annual
Derivative liability written off to additional paid in capital	`DerivativeLiabilityWrittenOffToAdditionalPaidInCapital`	-	USD	Annual
Net loss	`NetIncomeLoss`	$-1.52M	USD	Annual
Net loss	`NetIncomeLoss`	$-1.89M	USD	Annual
Repurchase of common stock, amount	`StockRepurchasedDuringPeriodValue`	$97.50K	USD	Annual
Balance, amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-1.74M	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.