Company: TCRG
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0001185185-25-001156
Chunk: 16

Company: Cannaisseur Group Inc.
Filing Date: 2025-09-09
Form: 10-Q
Item: Item 1
Chunk 16
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000   Convertible notes payable – related party, current portion  $80,000   $40,000   Convertible notes payable – related party, noncurrent portion  $-   $51,000  

12

5.
Notes Payable

     June 30, 2025   December 31, 2024   Loan in the amount of $4,095, dated January 4, 2023, payable to Lightspeed Capital (the “Lightspeed Loan”). The Lightspeed Loan is payable at the rate of 11% of the Company’s sales receipts. During the year ended December 31, 2023, the Company received additional borrowings of $5,283, subject to the same repayment terms as the original agreement. During the three and six months ended June 30, 2025, the Company made repayments of $0. During the three and six months ended June 30, 2024, the Company made repayments of $0.  $4,860   $4,860                Economic Injury Disaster Loan (EIDL), dated June 9, 2020. The note bears interest at 3.75% and has a maturity date of June 9, 2050. Payments on the loan were deferred until June 2022, at which point monthly payments of principal and interest totaling $134 became due. Interest in the amount of $2,370 has been accrued as of June 30, 2025. During the three and six months ended June 30, 2025, the Company made interest payments in the amount of $402 and $938, respectively. During the three and six months ended June 30, 2024, the Company made interest payments in the amount of $0 and $200, respectively.   27,300    27,300                Total  $32,160   $32,160   Notes payable, current portion  $7,026   $6,697   Notes payable, noncurrent portion  $25,134   $25,463  

Aggregate
maturities of convertible notes payable – related parties and notes payable as of June 30, 2025 are as follows:

For
the twelve months ended June 30,

    2026 
    $87,026 
  
    2027 
     677 
  
    2028