Company: TCRG
Filing Date: 2025-07-21
Form Type: 10-Q
Source: 0001185185-25-000810
Chunk: 18

Company: Cannaisseur Group Inc.
Filing Date: 2025-07-21
Form: 10-Q
Item: Item 1
Chunk 18
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6. The Brown Note 2 is convertible into common stock at a conversion price equal to the lesser of (i) 80% of the lowest price per
share paid by the investors purchasing equity securities with an aggregate sales price of not less than One Million Dollars, or (ii) the
number equal to $3,500,000 divided by the numbers of shares of the Company outstanding (calculated on a fully diluted basis), at the option
of the holder any time prior to repayment. During the three months ended March 31, 2025 and 2024, the Company accrued interest in the
amount of $96 and $0, respectively, on this note.

Convertible Note Payable in the amount of $40,000,
dated January 3, 2024, payable to Ridolfo R. Brown, a related party. The note bears interest at 6.5% and has a maturity date of January
3, 2026. The Brown Note is convertible into common stock at a conversion price equal to the lesser of (i) 80% of the lowest price per
share paid by the investors purchasing equity securities with an aggregate sales price of not less than One Million Dollars, or (ii) the
number equal to $3,500,000 divided by the numbers of shares of the Company outstanding (calculated on a fully diluted basis), at the option
of the holder any time prior to repayment. During the three months ended March 31, 2025 and 2024, the Company accrued interest in the
amount of $641 and $627, respectively, on this note.

Convertible Note Payable in the amount of $40,000,
dated December 26, 2023, payable to The National Legacy Foundation, a related party. The note bears interest at 6.5% and has a maturity
date of December 26, 2025. The Legacy Foundation Note is convertible into common stock at a conversion price of $0.015, at the option
of the holder any time prior to repayment. During the three months ended March 31, 2025 and 2024, the Company accrued interest in the
amount of $650 and $657, respectively, on this note.

On February 4, 2025, the Company issued 2,000,000 shares
of common stock with a fair value of $280,000 to each of its Chief Executive Officer and Chief Financial Officer as compensation
for ongoing services