Company: TCRG
Filing Date: 2025-09-09
Form Type: 10-Q
Source: 0001185185-25-001156
Chunk: 5

Company: Cannaisseur Group Inc.
Filing Date: 2025-09-09
Form: 10-Q
Item: Item 1
Chunk 5
---

between entities under common control results in a change in the reporting entity. Under the pooling-of-interests method, the transferred
assets and liabilities are recorded at their historical carrying amounts, and the equity accounts of the separate entities are combined.
Pursuant to ASC 805-50-45-2, the transaction should be presented as if it occurred on the first day of the period reported; accordingly,
we have reported the Atlanta CBD transaction as if it occurred on January 1, 2020.

Business
Operations

Currently,
the Company sells its products online only, and no longer operates a physical retail store. The Company may reopen a physical store or
stores in the future if it is advantageous to its operations.

Going
Concern

The
accompanying financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction
of liabilities in the normal course of business. As of June 30, 2025, the Company has a cumulative net loss since inception of $2,642,291,
a working capital deficit of $405,024, and has required additional capital raises to support its operations. These factors raise substantial
doubt about the ability of the Company to continue as a going concern for a reasonable period of time. The Company’s continuation
as a going concern is dependent upon its ability to create positive cash flows from operations and its ability to continue receiving
capital from shareholders and other related parties and obtain financing from third parties. No assurance can be given that the Company
will be successful in these efforts.

As
a result, management has concluded that there is substantial doubt about the Company’s ability to continue as a going concern within
one year of the date that the accompanying financial statements are issued. The ability of the Company to continue as a going concern
is dependent upon the Company’s ability to raise additional funds and implement its business plan, and to ultimately achieve sustainable
operating revenues and profitability. The accompanying financial statements do not include any adjustments that might be necessary if
the Company is unable to continue as a going concern.

If
cash resources are insufficient to satisfy the Company’s ongoing cash requirements, the Company would be required to obtain funds,
if available, although there can be no certainty, from its shareholders or officers.

7

2.
Basis of Presentation and Summary of Significant Accounting Policies

Basis
of Presentation

The
Financial Statements have been prepared in conformity with accounting principles generally accepted in the United States of America (“GAAP”)
and