Company: TCRG
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0001185185-25-001156
Chunk: 19

Company: Cannaisseur Group Inc.
Filing Date: 2025-09-09
Form: 10-Q
Item: Item 1
Chunk 19
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, 2025,
the Company accrued interest in the amount of $49 and $145, respectively, on this note.

During
the three months ended June 30, 2025, the Company and Mr. Brown agreed to convert principal and accrued interest in the amount of $6,000
and $292, respectively, due under the Brown Note 2 at a price of $0.15 per share into 41,950 shares of common stock. The fair value of
the stock at the conversion date was $0.14 per share, and the Company recognized a gain on conversion of debt in the amount of $419 in
additional paid-in capital.

Convertible
Note Payable in the amount of $40,000, dated January 3, 2024, payable to Ridolfo R. Brown, a related party. The note bears interest at
6.5% and has a maturity date of January 3, 2026. The Brown Note is convertible into common stock at a conversion price equal to the lesser
of (i) 80% of the lowest price per share paid by the investors purchasing equity securities with an aggregate sales price of not less
than One Million Dollars, or (ii) the number equal to $3,500,000 divided by the numbers of shares of the Company outstanding (calculated
on a fully diluted basis), at the option of the holder any time prior to repayment. During the three and six months ended June 30, 2025,
the Company accrued interest in the amount of $648 and $1,289, respectively, on this note. During the three and six months ended June 30,
2024, the Company accrued interest in the amount of $648 and $1,275, respectively, on this note.

Convertible
Note Payable in the amount of $40,000, dated December 26, 2023, payable to The National Legacy Foundation, a related party. The note
bears interest at 6.5% and has a maturity date of December 26, 2025. The Legacy Foundation Note is convertible into common stock at a
conversion price of $0.015, at the option of the holder any time prior to repayment. During the three and six months ended June 30, 2025,
the Company accrued interest in the amount of $657 and $1,307, respectively, on this note. During the three and six months ended June 30,
2024, the Company accrued