Company: TCRG
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0001185185-25-001156
Chunk: 4

Company: Cannaisseur Group Inc.
Filing Date: 2025-09-09
Form: 10-Q
Item: Item 1
Chunk 4
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 in cash and cash equivalents 
     1,995  
     (36,919)
  
    Cash and cash equivalents, beginning of period 
     563  
     38,390 
  
    Cash and cash equivalents, end of period 
    $2,558  
    $1,471 

    Supplemental cash flow information 

    Cash paid for interest 
    $938  
    $200 
  
    Cash paid for taxes 
    $-  
    $- 

    Non-cash investing and financing activities: 

    Shares issued for conversion of convertible notes payable 
    $11,454  
    $- 

The
accompanying notes are an integral part of these financial statements.

6

The
Cannaisseur Group, Inc.

Notes
To the Condensed Consolidated Financial Statements

For
The Three and Six Months Ended June 30, 2025 and 2024

(Unaudited)

1.
Organization and Nature of Operations 

Organization
and Combination

The
Cannaisseur Group, Inc. (the Company) was incorporated in the State of Delaware on December 22, 2020.

On
January 4, 2021, the Company acquired 51% of the common stock of Atlanta CBD, Inc. (“Atlanta CDB”), (the “Atlanta CBD
Acquisition”). Atlanta CBD, Inc. was incorporated in the State of Georgia on October 17, 2018.

Principles
of Consolidation

The
consolidated financial statements include the accounts of the Company and its majority owned subsidiary Atlanta CBD. At the time of the
Atlanta CBD Acquisition, Floretta Gogo and Xavier Carter owned the majority of Atlanta CBD and controlled the voting rights. Ms. Gogo
and Mr. Carter also controlled 38% of The Cannaisseur Group’s voting rights and were the CEO and COO, respectively, of both Companies
both before and after the transaction. Pursuant to the guidance of ASC 250 Accounting Changes and Error Corrections (“ASC
250”) the acquisition of Atlanta CBD by The Cannaisseur Group resulted in a change in the reporting entity of the combined companies.
The Company relied upon the guidance of ASC 805 Business Combinations (“ASC 805”) in the presentation of the combined
entities. Pursuant to ASC 805-50-05-5, the pooling-of-interests method of accounting provides relevant guidance when an exchange of shares