10-K Filing

THC THERAPEUTICS, INC. CIK: 1404935 FY 2023

Filing Information

Form Type	10-K
Accession Number	`0001477932-24-000896`
Period End Date	20230731
Filing Date	20240226
Fiscal Year	2023
Fiscal Period	FY
XBRL Instance	thct_10k_htm.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 32 Cash Flow Statement 50 Stockholders Equity 16

Balance Sheet 66 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`	34.15M	shares	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Common Stock, Shares Issued	`CommonStockSharesIssued`	33.89M	shares	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.00	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$40.66K	USD	Point-in-time
Prepaid expenses	`PrepaidExpenseCurrent`	$970.00	USD	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	34.15M	shares	Point-in-time
Common Stock, Shares Outstanding	`CommonStockSharesOutstanding`	33.89M	shares	Point-in-time
Preferred Stock, Par Value	`PreferredStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	-	USD	Point-in-time
Inventory	`InventoryNet`	$25.00	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`	$40.71K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$980.00	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	10.00M	shares	Point-in-time
Physical silver assets	`PhysicalSilverAssetsNonCurrent`	-	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
Physical silver assets	`PhysicalSilverAssetsNonCurrent`	$152.78K	USD	Point-in-time
Preferred Stock, Shares Outstanding	`PreferredStockSharesOutstanding`	226,300.00	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$12.01K	USD	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
Total assets	`Assets`	$206.90K	USD	Point-in-time
Total assets	`Assets`	$12.99K	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.94M	USD	Point-in-time
Accounts payable and accrued liabilities	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.58M	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrentCurrent`	$16.81K	USD	Point-in-time
Accrued expenses - related party	`AccountsPayableRelatedPartiesCurrentCurrent`	$5.18K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$59.65K	USD	Point-in-time
Advances from related parties	`AdvancesFromRelatedPartiesCurrent`	$144.63K	USD	Point-in-time
Notes payable, net	`NotesPayable`	$25.00K	USD	Point-in-time
Notes payable, net	`NotesPayable`	$25.00K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayable`	$576.03K	USD	Point-in-time
Convertible notes payable	`ConvertibleNotesPayable`	$576.03K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedParty`	$130.76K	USD	Point-in-time
Convertible notes payable- related party	`ConvertibleNotesPayableRelatedParty`	$200.00K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$489.57K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$673.71K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.22M	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`	$3.22M	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; 34,146,149 and 33,891,671 shares issued and outstanding as of July 31, 2023 and 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 July 31, 2023 and 2022, respectively	`CommonStockValue`	$32.49K	USD	Point-in-time
Stock payable	`StockPayable`	$622.28K	USD	Point-in-time
Stock payable	`StockPayable`	$752.23K	USD	Point-in-time
Stock receivable	`StockReceivable`	$6.90M	USD	Point-in-time
Stock receivable	`StockReceivable`	$6.90M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.23M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$41.17M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-38.04M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.31M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Total stockholders' deficit	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$12.99K	USD	Point-in-time
Total liabilities and stockholders' deficit	`LiabilitiesAndStockholdersEquity`	$206.90K	USD	Point-in-time

Income Statement 32 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`	$148.50K	USD	Annual
Professional fees	`ProfessionalFees`	$178.90K	USD	Annual
Consulting fees	`ConsultingFees`	$87.17K	USD	Annual
Consulting fees	`ConsultingFees`	$966.53K	USD	Annual
Salaries and wages	`SalariesAndWages`	$187.75K	USD	Annual
Salaries and wages	`SalariesAndWages`	$462.32K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$138.28K	USD	Annual
General and administrative	`GeneralAndAdministrativeExpense`	$70.50K	USD	Annual
Total operating expenses	`OperatingExpenses`	$493.91K	USD	Annual
Total operating expenses	`OperatingExpenses`	$1.75M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-1.75M	USD	Annual
Loss from operations	`OperatingIncomeLoss`	$-493.91K	USD	Annual
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$184.14K	USD	Annual
Gain (loss) on derivative liability	`DerivativeGainLossOnDerivativeNet`	$327.50K	USD	Annual
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	$2.31K	USD	Annual
Gain on settlement of debt	`GainsLossesOnExtinguishmentOfDebt`	-	USD	Annual
Interest expense	`InterestExpense`	$79.58K	USD	Annual
Interest expense	`InterestExpense`	$100.40K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$106.88K	USD	Annual
Total other income (expense)	`OtherNonoperatingIncomeExpense`	$227.10K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-387.04K	USD	Annual
Net income (loss)	`NetIncomeLoss`	$-1.52M	USD	Annual
Basic loss per common share	`BasicEarningsPerShare`	$-0.01	USD	Annual
Basic loss per common share	`BasicEarningsPerShare`	$-0.05	USD	Annual
Basic weighted average common shares outstanding	`BasicWeightedAverageNumberOfSharesOutstanding`	33.24M	shares	Annual
Basic weighted average common shares outstanding	`BasicWeightedAverageNumberOfSharesOutstanding`	32.81M	shares	Annual

Cash Flow Statement 50 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-387.04K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.52M	USD	Annual
Loss (gain) on change in derivative liabilities	`DerivativeGainLossOnDerivativeNet`	$184.14K	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`	-	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$87.17K	USD	Annual
Stock based compensation	`ShareBasedCompensation`	$836.79K	USD	Annual
Gain on settlement of debt	`GainOnSettlementOfDebt`	$-1.46K	USD	Annual
Gain on settlement of debt	`GainOnSettlementOfDebt`	-	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$12.33K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$1.39K	USD	Annual
Increase (decrease) in inventory	`IncreaseDecreaseInInventories`	$805.00	USD	Annual
Increase (decrease) in inventory	`IncreaseDecreaseInInventories`	$25.00	USD	Annual
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-36.07K	USD	Annual
Increase (decrease) in prepaid assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$39.69K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$355.95K	USD	Annual
Increase (decrease) in accounts payable	`IncreaseDecreaseInAccountsPayable`	$610.24K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$-11.27K	USD	Annual
Increase (decrease) in accounts payable related party	`IncreaseDecreaseInAccountsPayableRelatedParties`	$2.98K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-418.92K	USD	Annual
Net cash used in operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-85.43K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	-	USD	Annual
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$36.00K	USD	Annual
Proceeds from related party advances	`ProceedsFromRelatedPartyDebt`	$102.88K	USD	Annual
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$54.56K	USD	Annual
Payments on related party advances	`RepaymentsOfRelatedPartyDebt`	$50.59K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$147.00K	USD	Annual
Proceeds from sale of common stock	`ProceedsFromIssuanceOfCommonStock`	$100.00K	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	-	USD	Annual
Repurchase of common stock	`PaymentsForRepurchaseOfCommonStock`	$97.50K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	$25.00K	USD	Annual
Proceeds from convertible notes payable	`ProceedsFromConvertibleDebt`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$122.82K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$85.41K	USD	Annual
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-296.10K	USD	Annual
Net decrease in Cash	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect`	$-22.00	USD	Annual
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Beginning cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.00	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$296.13K	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$32.00	USD	Point-in-time
Ending cash balance	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$10.00	USD	Point-in-time
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for interest	`InterestPaid`	-	USD	Annual
Cash paid for tax	`IncomeTaxesPaid`	-	USD	Annual
Cash paid for tax	`IncomeTaxesPaid`	-	USD	Annual
Silver used to settle debt	`SilverUsedToSettleDebt`	-	USD	Annual
Silver used to settle debt	`SilverUsedToSettleDebt`	$152.78K	USD	Annual

Stockholders Equity 16 line items

Line Item	Tag	Value	Unit	Period
Balance, amount	`StockholdersEquity`	$-3.31M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.11M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-2.48M	USD	Point-in-time
Conversion of preferred shares into common stock shares, amount	`ConversionOfPreferredSharesIntoCommonStockSharesAmount`	-	USD	Annual
Shares issued for cash, amount	`SharesIssuedForCashAmount`	$147.00K	USD	Annual
Shares and warrants issued for services, amount	`SharesAndWarrantsIssuedForServicesAmount`	$836.79K	USD	Annual
Shares cancelled, amount	`SharesCancelledAmount`	-	USD	Annual
Shares cancelled, amount	`SharesCancelledAmount`	-	USD	Annual
Repurchase of common stock, amount	`StockRepurchasedDuringPeriodValue`	$97.50K	USD	Annual
Net loss	`NetIncomeLoss`	$-387.04K	USD	Annual
Net loss	`NetIncomeLoss`	$-1.52M	USD	Annual
Shares issued for services, amount	`StockIssuedDuringPeriodAmountIssuedForServices`	$87.17K	USD	Annual
Shares issued for cash	`SharesIssuedForCash`	$100.00K	USD	Annual
Balance, amount	`StockholdersEquity`	$-3.31M	USD	Point-in-time
Balance, amount	`StockholdersEquity`	$-3.11M	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.