Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 625

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 7
Chunk 625
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 of December 31, 2024.

F-13

9.
Stockholders’ Equity

The
Company is authorized to issue up to 100,000,000 shares of common stock, $0.0001 par value per share. At December 31, 2024 and 2023,
the Company had 44,337,557 and 42,547,484 shares of common stock issued and outstanding, respectively.

In
January 2021, the Company entered into a Stock Purchase Agreement with the owners of Atlanta CBD, Inc. and acquired 51% of the common
stock of Atlanta CBD, Inc. in exchange for 13,600,000 shares of the Company’s common stock. This transaction was accounted for
using common control accounting; accordingly, the transaction was recorded as if it occurred on January 1, 2020. The amount of $55,412
was recorded to additional paid-in capital, $22,350 was charged to minority interest, and $23,263 was recorded to accumulated deficit.

Equity
transactions during the year ended December 31, 2024:

On
January 16, 2024, the Company received capital contributions from a related party in the amount of $1,000.

On
February 28, 2024, the Company’s Board of Directors approved the issuance of 1,000,000 shares of common stock with a fair value
of $15,000 to its Chief Executive Officer as a bonus.

On
February 28, 2024, the Company’s Board of Directors approved the issuance of 1,000,000 shares of common stock with a fair value
of $15,000 to its Interim Chief Financial Officer as a bonus.

On
May 8, 2024, the Company sold 21,740 shares of common stock at a price of $0.23 per share for cash proceeds of $5,000.

On
May 17, 2024, the Company issued 1,000,000 shares of common stock with a fair value of $230,000 to one of its directors as compensation.

On
June 4, 2024, the Company issued 1,000,000 shares of common stock with a fair value of $230,000 to its Chief Executive Officer as compensation
for ongoing services.

On
June 4, 2024, the Company issued 1,000,000 shares of common stock with a fair value of $230,