10-Q Filing

THC THERAPEUTICS, INC. CIK: 1404935 Q2 2023

Filing Information

Form Type	10-Q
Accession Number	`0001477932-24-000075`
Period End Date	20230131
Filing Date	20240108
Fiscal Year	2023
Fiscal Period	Q2
XBRL Instance	thct_10q_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 64 Cash Flow Statement 56 Stockholders Equity 27

Balance Sheet 72 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`	33.89M	shares	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$32.00	USD	Point-in-time
Cash	`CashAndCashEquivalentsAtCarryingValue`	$8.84K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	34.15M	shares	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$40.66K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$1.49K	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	33.89M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	34.15M	shares	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$25.00	USD	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	-	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
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	165,000.00	shares	Point-in-time
Total current assets	`AssetsCurrent`	$10.33K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Physical silver assets	`PhysicalSilverAssetsNet`	$152.78K	USD	Point-in-time
Physical silver assets	`PhysicalSilverAssetsNet`	-	USD	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	226,300.00	shares	Point-in-time
Preferred Stock, Shares Issued	`PreferredStockSharesIssued`	226,300.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$13.40K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	226,300.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$12.70K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	226,300.00	shares	Point-in-time
Total assets	`Assets`	$206.90K	USD	Point-in-time
Total assets	`Assets`	$23.03K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.79M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartyCurrent`	$3.52K	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartyCurrent`	$16.81K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$144.63K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$66.25K	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`	$673.71K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$703.05K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.29M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.22M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.29M	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; $0.001 par value; 10,000,000 shares authorized; 226,300 and 226,300 series A and B and C shares issued and outstanding as of January 31, 2023 and July 31, 2022, respectively	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock; $0.001 par value; 10,000,000 shares authorized; 226,300 and 226,300 series A and B and C shares issued and outstanding as of January 31, 2023 and July 31, 2022, respectively	`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`	$32.49K	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
Stock payable	`StockPayable`	$752.23K	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`	$41.17M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.49M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.04M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.75M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.37M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-5.22M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.44M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$23.03K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$206.90K	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Revenues	`Revenues`	-	USD	1 Quarter
Revenues	`Revenues`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Cost of revenues	`CostOfRevenue`	-	USD	2 Qtrs
Cost of revenues	`CostOfRevenue`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$82.85K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$134.38K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$118.31K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$102.83K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$487.71K	USD	2 Qtrs
Consulting fees	`ConsultingFees`	$65.89K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$443.29K	USD	1 Quarter
Consulting fees	`ConsultingFees`	$87.17K	USD	2 Qtrs
Salaries and wages	`SalariesAndWages`	$46.94K	USD	1 Quarter
Salaries and wages	`SalariesAndWages`	$93.88K	USD	2 Qtrs
Salaries and wages	`SalariesAndWages`	$368.44K	USD	2 Qtrs
Salaries and wages	`SalariesAndWages`	$289.24K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$65.82K	USD	2 Qtrs
General and administrative	`SellingGeneralAndAdministrativeExpense`	$58.03K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$52.70K	USD	1 Quarter
General and administrative	`SellingGeneralAndAdministrativeExpense`	$115.16K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$1.09M	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$381.24K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$868.08K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$273.68K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-1.09M	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-381.24K	USD	2 Qtrs
Loss from operations	`OperatingIncomeLoss`	$-868.08K	USD	1 Quarter
Loss from operations	`OperatingIncomeLoss`	$-273.68K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$145.14K	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$1.98M	USD	1 Quarter
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-29.34K	USD	2 Qtrs
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$-78.55K	USD	2 Qtrs
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.31K	USD	2 Qtrs
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Interest expense	`InterestExpense`	$29.53K	USD	1 Quarter
Interest expense	`InterestExpense`	$20.07K	USD	1 Quarter
Interest expense	`InterestExpense`	$40.18K	USD	2 Qtrs
Interest expense	`InterestExpense`	$70.72K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$-67.21K	USD	2 Qtrs
Total other income (expense)	`NonoperatingIncomeExpense`	$115.61K	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$1.96M	USD	1 Quarter
Total other income (expense)	`NonoperatingIncomeExpense`	$-149.27K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-1.24M	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$-752.46K	USD	1 Quarter
Net income (loss)	`ProfitLoss`	$-448.45K	USD	2 Qtrs
Net income (loss)	`ProfitLoss`	$1.69M	USD	1 Quarter
Basic loss per common share	`EarningsPerSharesBasic`	$-0.02	USD	1 Quarter
Basic loss per common share	`EarningsPerSharesBasic`	$0.05	USD	1 Quarter
Basic loss per common share	`EarningsPerSharesBasic`	$-0.04	USD	2 Qtrs
Basic loss per common share	`EarningsPerSharesBasic`	$-0.01	USD	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingsBasic`	32.75M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingsBasic`	35.69M	shares	1 Quarter
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingsBasic`	33.98M	shares	2 Qtrs
Basic weighted average common shares outstanding	`WeightedAverageNumberOfSharesOutstandingsBasic`	32.81M	shares	2 Qtrs

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net loss	`ProfitLoss`	$-1.24M	USD	2 Qtrs
Net loss	`ProfitLoss`	$-752.46K	USD	1 Quarter
Net loss	`ProfitLoss`	$-448.45K	USD	2 Qtrs
Net loss	`ProfitLoss`	$1.69M	USD	1 Quarter
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$145.14K	USD	1 Quarter
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$1.98M	USD	1 Quarter
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-29.34K	USD	2 Qtrs
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$-78.55K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$14.68K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	-	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$87.17K	USD	2 Qtrs
Stock based compensation	`ShareBasedCompensation`	$440.05K	USD	2 Qtrs
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	2 Qtrs
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.31K	USD	2 Qtrs
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$702.00	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$8.20K	USD	2 Qtrs
Increase (decrease) in inventory	`IncreaseDecreaseInPrepaidExpense`	$-25.00	USD	2 Qtrs
Increase (decrease) in inventory	`IncreaseDecreaseInPrepaidExpense`	-	USD	2 Qtrs
Increase (decrease) in prepaid assets	`IncreaseDecreaseInOtherCurrentAssets`	$-39.16K	USD	2 Qtrs
Increase (decrease) in prepaid assets	`IncreaseDecreaseInOtherCurrentAssets`	$10.09K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$208.99K	USD	2 Qtrs
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$327.09K	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties1`	$83.46K	USD	2 Qtrs
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties1`	$2.17K	USD	2 Qtrs
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-83.21K	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`	$35.96K	USD	2 Qtrs
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$13.72K	USD	2 Qtrs
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$43.95K	USD	2 Qtrs
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$30.18K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromSaleOfLongtermInvestments`	$135.00K	USD	2 Qtrs
Proceeds from sale of common stock	`ProceedsFromSaleOfLongtermInvestments`	$100.00K	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	2 Qtrs
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$92.50K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$26.04K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$92.01K	USD	2 Qtrs
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$8.80K	USD	2 Qtrs
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect`	$-270.92K	USD	2 Qtrs
Beggining cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Beggining cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.21K	USD	Point-in-time
Beggining cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.84K	USD	Point-in-time
Beggining cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$25.21K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$8.84K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	-	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash paid for tax	`IncomeTaxesPaid`	-	USD	2 Qtrs
Silver used to settle debt	`SilverUsedToSettleDebt`	$152.78K	USD	2 Qtrs
Silver used to settle debt	`SilverUsedToSettleDebt`	-	USD	2 Qtrs

Stockholders Equity 27 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-2.75M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.37M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-5.22M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.44M	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`	$404.62K	USD	1 Quarter
Shares and warrants issued for services, amount	`SharesAndWarrantsIssuedForServicesAmount`	$35.43K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$1.69M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-2.13M	USD	1 Quarter
Net loss	`NetIncomeLoss`	-	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-752.46K	USD	1 Quarter
Shares issued for cash	`SharesIssuedForCash`	$100.00K	USD	1 Quarter
Shares issued for cash	`SharesIssuedForCash`	$135.00K	USD	1 Quarter
Shares cancelled, amount	`SharesCancelledAmount`	-	USD	1 Quarter
Shares cancelled, amount	`SharesCancelledAmount`	-	USD	1 Quarter
Repurchase of common stock, amount	`RepurchaseOfCommonStockAmount`	$-92.50K	USD	1 Quarter
Shares issued for services, amount	`SharesIssuedForServicesAmount`	$21.28K	USD	1 Quarter
Shares and warrants issued for services	`SharesAndWarrantsIssuedForServices`	$65.89K	USD	1 Quarter
Balance, amount	`StockholdersEquity`	$-2.75M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.37M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-5.22M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.44M	USD	Point-in-time

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