Company: TCRG
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001185185-25-001785
Chunk: 20

Company: Cannaisseur Group Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 20
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 months ended September 30, 2025, 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 $2,344 has been accrued as of September 30, 2025. During the three and nine months ended September 30, 2025, the Company made interest payments in the amount of $268 and $1,206, respectively.     27,300       27,300                       Total   $ 32,160     $ 32,160    Notes payable, current portion   $ 7,193     $ 6,697    Notes payable, noncurrent portion   $ 24,967     $ 25,463   

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

For the twelve months ended September 30,

    2026 
    $7,193 
  
    2027 
     683 
  
    2028 
     709 
  
    2029 
     737 
  
    2030 
     765 
  
    Thereafter 
     22,073 
  
    Total 
    $32,160 

6. Settlement Payable 

The Company leased its retail store in Atlanta,
Georgia under a five-year lease executed on January 24, 2019. The monthly cash payment for this operating lease was approximately $2,000
per month, with the lease term ending on December 24, 2023. The Company recorded right-of-use assets and liabilities of $84,994 on January
24, 2019, based on the present value of payments and an incremental borrowing rate of 10.0% per annum.

On October 18, 2023, the Company entered into
a Lease Termination and Settlement Agreement (the “Settlement Agreement”) with the Landlord, under which the Company surrendered
the leased premises, and settled all outstanding obligations and debts. According to the terms of the Settlement Agreement, the Company