Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 53

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 53
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 amount of $40,000, dated December 26, 2023, payable to The National Legacy Foundation, a related party (the “Legacy Foundation Note”). 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 years ended December 31, 2024 and 2023, the Company accrued interest in the amount of $2,643 and $36, respectively, on this note.     40,000       40,000                       Total   $ 91,000     $ 40,000    Convertible notes payable – related party, current portion   $ 40,000     $ -    Convertible notes payable – related party, noncurrent portion   $ 51,000     $ 40,000   

F-11

5.
Notes Payable

      December 31, 
2024     December 31, 2023    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 years ended December 31, 2024 and 2023, the Company made repayments of $0 and $4,523, respectively.   $ 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 $2,822 has been accrued as of December 31, 2024. During the years ended December 31, 2024 and 2023, the Company made interest payments in the amount of $200 and $2,470, respectively.     27,300       27,300