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

Company: Cannaisseur Group Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 25
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 to the lesser of (i) 25% interest, (ii) the difference between the ownership percentage of management and 50%, which will be distributed
to management, until a 35% profit goal achieved. Preferred shareholders are entitled to a return of their investment upon 15 days’
notice given to the Company after any distribution. On August 14, 2025, each of the Investors elected to convert their investment at a
price of $0.05 per shares. The Company issued 757,500 shares of common stock and recognized a loss on conversion of the mezzanine equity
in the amount of $68,175. See Note 9.

9. Stockholders’ Equity

The Company is authorized to issue up to 500,000,000
shares of common stock, $0.0001 par value per share. At September 30, 2025 and December 31, 2024, the Company had 60,459,890 and 44,337,557
shares of common stock, respectively, issued and outstanding.

Equity transactions during the nine months
ended September 30, 2025:

On January 22, 2025, the Company sold 642,857 shares
of common stock at a price of $0.14 per share for cash proceeds of $90,000.

On February 4, 2025, the Company issued 2,000,000 shares
of common stock with a fair value of $280,000 to its Chief Executive Officer as compensation for ongoing services.

On February 4, 2025, the Company issued 2,000,000 shares
of common stock with a fair value of $280,000 to its Chief Financial Officer as compensation for ongoing services.

On February 4, 2025, the Company issued 1,000,000 shares
of common stock with a fair value of $140,000 to its Corporate Secretary as compensation for ongoing services.

On June 2, 2025, the Company issued 76,365 shares
of common stock, with a fair value of $10,691, for the conversion of principal and accrued interest on notes payable in the amount of
$11,454. The Company recognized a gain on conversion of debt in the amount of $12,106 in additional paid-in capital.

On June 2, 2025, the Company cancelled 300,000 shares
of common stock held by