10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q1 2023

Filing Information

Form Type	10-Q
Accession Number	`0001477932-22-009498`
Period End Date	20221031
Filing Date	20221222
Fiscal Year	2023
Fiscal Period	Q1
XBRL Instance	thct_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 32 Cash Flow Statement 46 Stockholders Equity 15

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Common Stock, Shares Par Value	`CommonStockParOrStatedValuePerShare`	$0.01	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`	$3.56K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	33.89M	shares	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	34.15M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$32.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$39.01K	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`	34.15M	shares	Point-in-time
Other current assets	`OtherAssetsCurrent`	$25.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Other current assets	`OtherAssetsCurrent`	$995.00	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`	$40.71K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$43.56K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	165,000.00	shares	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`	226,300.00	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`	-	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	226,300.00	shares	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Fixed assets, net	`PropertyPlantAndEquipmentNet`	-	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	226,300.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.05K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.40K	USD	Point-in-time
Total assets	`Assets`	$206.90K	USD	Point-in-time
Total assets	`Assets`	$56.61K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.66M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$2.45K	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrent`	$16.81K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$99.25K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$144.63K	USD	Point-in-time
Notes payable, net	`NotesPayableCurrent`	$25.00K	USD	Point-in-time
Notes payable, net	`NotesPayableCurrent`	$25.00K	USD	Point-in-time
Convertible notes payable	`ConvertibleDebtCurrent`	$576.03K	USD	Point-in-time
Convertible notes payable	`ConvertibleDebtCurrent`	$576.03K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedPartyNetCurrent`	$130.76K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedPartyNetCurrent`	$200.00K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$2.68M	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$673.71K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$5.18M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$5.18M	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
Preferred stock, value	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, value	`PreferredStockValue`	-	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 34,146,149 and 33,891,671 shares issued and outstanding as of October 31, 2022 and July 31, 2022, respectively	`CommonStockValue`	$32.75K	USD	Point-in-time
Common stock; $0.001 par value; 500,000,000 shares authorized; 34,146,149 and 33,891,671 shares issued and outstanding as of October 31, 2022 and July 31, 2022, respectively	`CommonStockValue`	$32.49K	USD	Point-in-time
Stock payable	`StockPayable`	$622.28K	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`	$41.19M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-40.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.04M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-5.22M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$206.90K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$56.61K	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`	$35.46K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$31.55K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$21.28K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$44.43K	USD	1 Quarter
Salaries and wages	`SalariesAndWages`	$79.20K	USD	1 Quarter
Salaries and wages	`SalariesAndWages`	$46.94K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$7.79K	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`	$107.56K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-107.56K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-221.56K	USD	1 Quarter
Loss on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-223.69K	USD	1 Quarter
Loss on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-2.01M	USD	1 Quarter
Gain settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.31K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.12K	USD	1 Quarter
Interest expense	`InterestExpense`	$41.19K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-264.88K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-2.03M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.06	USD	1 Quarter
Basic loss per common share	`EarningsPerShareBasic`	$-0.02	USD	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	32.87M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingBasic`	32.28M	shares	1 Quarter

Cash Flow Statement 46 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-2.13M	USD	1 Quarter
Net loss	`ProfitLoss`	$-486.44K	USD	1 Quarter
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-223.69K	USD	1 Quarter
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-2.01M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$14.68K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$35.43K	USD	1 Quarter
Stock based compensation	`ShareBasedCompensation`	$21.28K	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.31K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$4.13K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$351.00	USD	1 Quarter
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$-1.65K	USD	1 Quarter
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidExpense`	$4.53K	USD	1 Quarter
Increase (decrease) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	$970.00	USD	1 Quarter
Increase (decrease) in other current assets	`IncreaseDecreaseInOtherCurrentAssets`	-	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$82.78K	USD	1 Quarter
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$8.83K	USD	1 Quarter
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties1`	$45.52K	USD	1 Quarter
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties1`	$1.10K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-158.68K	USD	1 Quarter
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-21.48K	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`	$13.72K	USD	1 Quarter
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$33.45K	USD	1 Quarter
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$26.03K	USD	1 Quarter
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$8.44K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$25.01K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-12.31K	USD	1 Quarter
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$3.53K	USD	1 Quarter
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-170.99K	USD	1 Quarter
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.56K	USD	Point-in-time
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.14K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$3.56K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$125.14K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	-	USD	1 Quarter
Cash paid for tax	`IncomeTaxesPaid`	-	USD	1 Quarter
Cash paid for tax	`IncomeTaxesPaid`	-	USD	1 Quarter
Silver used to settle debt	`SilverUsedToSettleDebt`	-	USD	1 Quarter
Silver used to settle debt	`SilverUsedToSettleDebt`	$152.78K	USD	1 Quarter

Stockholders Equity 15 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-5.22M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Conversion of preferred shares into common stock shares, amount	`ConversionOfPreferredSharesIntoCommonStockSharesAmount`	-	USD	1 Quarter
Shares issued for cash, amount	`SharesIssuedForCashAmount`	-	USD	1 Quarter
Shares and warrants issued for services, amount	`SharesAndWarrantsIssuedForServicesAmount`	$35.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-486.44K	USD	1 Quarter
Shares issued for services, amount	`SharesIssuedForServicesAmount`	$21.28K	USD	1 Quarter
Shares cancelled, amount	`SharesCancelledAmount`	-	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-5.22M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.93M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time

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