Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 62

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 62
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-based compensation 
     1,042,034  
     - 
  
    Bank fees 
     1,541  
     4,347 
  
    Taxes 
     75  
     5,306 
  
    Advertising and marketing 
     40  
     1,139 
  
    Depreciation 
     -  
     3,822 
  
    Other 
     469  
     4,177 
  
    Total operating expenses 
     1,263,004  
     216,054 

    Other income (expense) 

    Gain on settlement 
     -  
     18,968 
  
    Interest expense 
     (6,427) 
     (1,654)
  
    Total other income (expense) 
     (6,427) 
     17,314 

    Net loss 
    $(1,273,006) 
    $(172,586)

    Reconciliation of loss 

    Adjustments and reconciling items 
     -  
     - 
  
    Net loss 
    $(1,273,006) 
    $(172,586)

    Other segment disclosures: 

    Segment assets 
    $1,876  
    $43,693 

F-16

12.
Commitments and Contingencies

Legal
Matters

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. On August 14, 2023, the Landlord
initiated a civil action against the Company and Guarantors styled AP 1039 Grant St., LLC v. Inno Medicinals LLC, a/k/a InnoMedicals
Atlanta CBD, Inc., Xavier Carter, and Floretta Gogo, State Court of DeKalb County, Georgia, Case No. 23A03681 for failing to pay
amounts owed under the lease. The Company and Guarantors filed counterclaims against the Landlord for breach of fiduciary duties, breach
of contract, and attorney’s fees.

On
October 18, 2023, the Company entered into a Lease Termination and Settlement Agreement (the “Settlement Agreement”) with
the Landlord,