Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 307

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 2
Chunk 307
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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.

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 the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and include the accounts of The Cannaisseur
Group, Inc. and Atlanta CBD.

F-6

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
between entities under common control results in