Company: TCRG
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001185185-25-001785
Chunk: 9

Company: Cannaisseur Group Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 9
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 and its ability to continue receiving capital from shareholders
and other related parties and obtain financing from third parties. No assurance can be given that the Company will be successful in these
efforts.

As a result, management has concluded that there
is substantial doubt about the Company’s ability to continue as a going concern within one year of the date that the accompanying
financial statements are issued. The ability of the Company to continue as a going concern is dependent upon the Company’s ability
to raise additional funds and implement its business plan, and to ultimately achieve sustainable operating revenues and profitability.
The accompanying financial statements do not include any adjustments that might be necessary if the Company is unable to continue as a
going concern.

If cash resources are insufficient to satisfy
the Company’s ongoing cash requirements, the Company would be required to obtain funds, if available, although there can be no certainty,
from its shareholders or officers.

7

2. Basis of Presentation and Summary of Significant
Accounting Policies

Basis of Presentation

The Financial Statements have been prepared in
conformity with accounting principles generally accepted in the United States of America (“GAAP”) and the rules and regulations
of the U.S. Securities and Exchange Commission (“SEC”) and include the accounts of The Cannaisseur Group, Inc. and Atlanta
CBD.

The consolidated financial statements include
the accounts of the Company and its majority owned subsidiary Atlanta CBD. At the time of the Atlanta CBD Acquisition, Floretta Gogo and
Xavier Carter owned the majority of Atlanta CBD and controlled the voting rights. Ms. Gogo and Mr. Carter also controlled 38% of The Cannaisseur
Group’s voting rights and were the CEO and COO, respectively, of both Companies both before and after the transaction. Pursuant
to the guidance of ASC 250 Accounting Changes and Error Corrections (“ASC 250”) the acquisition of Atlanta CBD by The
Cannaisseur Group resulted in a change in the reporting entity of the combined companies. The Company relied upon the guidance of ASC
805 Business Combinations (“ASC 805”) in the presentation of the combined entities. Pursuant to ASC 805-50-05-5, the
pooling-of-interests method of accounting provides relevant guidance when an exchange of shares between entities under common control
results in a change in the reporting entity. Under the pooling-of-interests method, the transferred assets and liabilities are recorded
at their historical carrying amounts, and the equity accounts of the separate entities are combined.