Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 115

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1A
Chunk 115
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discussed in Note 1 to the financial statements, the Company had a going concern due to a negative working capital and consecutive losses
from operations.

Auditing
management’s evaluation of a going concern can be a significant judgment given the fact that the Company uses management estimates
on future revenues and expenses which are not able to be substantiated.

To
evaluate the appropriateness of the going concern, we examined and evaluate the financial information that was the initial cause along
with managements’ plans to mitigate the going concern and managements’ disclosure on going concern.

/s/
M&K CPAS, PLLC

We
have served as the Company’s auditor since 2021.

The
Woodlands, Texas

March
21, 2025

F-1

THE
CANNAISSEUR GROUP, INC.

CONSOLIDATED
BALANCE SHEETS

    December 31,  
    December 31, 

    2024  
    2023 
  
    ASSETS 

    Current Assets: 

    Cash 
    $563  
    $38,390 
  
    Accounts receivable 
     285  
     - 
  
    Inventory 
     1,028  
     5,303 
  
    Total current assets 
     1,876  
     43,693 

    TOTAL ASSETS 
    $1,876  
    $43,693 

    LIABILITIES AND STOCKHOLDERS’ DEFICIT 

    Current Liabilities: 

    Accounts payable and accrued expenses 
     169,807  
     47,918 
  
    Settlement payable 
     9,501  
     15,001 
  
    Short-term loan payable - related party 
     1,500  
     - 
  
    Notes payable, current portion 
     6,697  
     6,377 
  
    Convertible notes payable - related party, current portion 
     40,000  
     - 
  
    Dividends payable 
     1,608  
     1,608 
  
    Total current liabilities 
     229,113  
     70,904 

    Long term notes payable, noncurrent portion 
     25,463  
     25,783 
  
    Convertible notes payable - related party, noncurrent portion 
     51,000