Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 194

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1B
Chunk 194
---
 $ 40,000   

F-11

5.
Notes Payable

      December 31, 
2024     December 31, 2023    Loan in the amount of $4,095, dated January 4, 2023, payable to Lightspeed Capital (the “Lightspeed Loan”). The Lightspeed Loan is payable at the rate of 11% of the Company’s sales receipts. During the year ended December 31, 2023, the Company received additional borrowings of $5,283, subject to the same repayment terms as the original agreement. During the years ended December 31, 2024 and 2023, the Company made repayments of $0 and $4,523, respectively.   $ 4,860     $ 4,860                       Economic Injury Disaster Loan (EIDL), dated June 9, 2020. The note bears interest at 3.75% and has a maturity date of June 9, 2050. Payments on the loan were deferred until June 2022, at which point monthly payments of principal and interest totaling $134 became due. Interest in the amount of $2,822 has been accrued as of December 31, 2024. During the years ended December 31, 2024 and 2023, the Company made interest payments in the amount of $200 and $2,470, respectively.     27,300       27,300                       Total   $ 32,160     $ 32,160    Notes payable, current portion   $ 6,697     $ 6,377    Notes payable, noncurrent portion   $ 25,463     $ 25,783   

Aggregate
maturities of loans payable – related party, convertible notes payable – related parties, and notes payable as of December
31, 2024 are as follows:

For
the twelve months ended December 31,

    2025 
    $48,197 
  
    2026 
     51,664 
  
    2027 
     690 
  
    2028 
     716 
  
    2029 
     743 
  
    Thereafter 
     22,650 
  
    Total 
    $124,660 

6.
Settlement Payable 

The
Company leased its retail store in Atlanta, Georgia under a five-year lease