Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 233

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1C
Chunk 233
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305,576, consisting of accounts payable and accrued expenses of $169,807, settlement
payable of $9,501, notes payable - current of $46,697, dividends payable of $1,608, and long-term notes payable of $76,463. As of December
31, 2023, we had total liabilities of $136,687, including accounts payable and accrued expenses of $47,918, settlement payable of $15,001,
dividends payable of $1,608, notes payable current of $6,377, and long-term notes payable of $65,783. The increase in liabilities is
mainly due to an increase in accounts payable and accrued expenses and additional convertible notes payable.

Cash
Flows from Operating Activities 

For
the twelve months ended December 31, 2024, cash used in operating activities of $110,627 resulted from a net loss of $1,273,006, adjustments
for non-cash items totaling $1,042,000 and a net increase of $120,379 in the components of working capital. The non-cash adjustments
to net income is attributable to charges of $1,042,000 for share-based compensation. The change in the components of working capital
was due primarily to an increase in accounts payable and accrued expenses of $121,889 and a decrease in the settlement payable liability
of $5,500, with the remaining change attributable to normal operational fluctuations in current assets and current liabilities.

For
the twelve months ended December 31, 2023, cash used in operating activities of $126,074 resulted primarily from a net loss of $172,586
adjusted for non-cash items totaling $339 and a net increase of $46,173 in the components of working capital. The non-cash adjustments
to net income are attributable to charges of $15,485 for amortization of right of use asset, gain on settlement of $18,968, and $3,822
for depreciation. The change in the components of working capital was due primarily to an increase in accounts payable and accrued expenses
of $63,420 and a decrease in right of use lease liability of $17,124, with the remaining change attributable to normal operational fluctuations
in current assets and current liabilities.

Cash
Flows Provided by Financing Activities

Our
financing activities consisted primarily of the sale of common stock, borrowings and repayments of debt, and contributed capital from
related parties.

For