Company: TCRG
Filing Date: 2025-03-21
Form Type: 10-K
Source: 0001185185-25-000206
Chunk: 60

Company: Cannaisseur Group Inc.
Filing Date: 2025-03-21
Form: 10-K
Item: Item 1
Chunk 60
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 of $0.015 per share for cash proceeds of $2,500.

On
December 28, 2023, the Company sold 967,333 shares of common stock at a price of $0.015 per share for cash proceeds of $14,510.

10.
Income Taxes

Deferred
income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial
reporting purposes and the amounts used for income tax purposes. Significant components of the Company’s deferred tax assets as
of December 31, 2024 and 2023 are summarized below.

    December 31, 2024

    December 31, 2023

    Net operating loss carryforwards
     
    $
    1,715,000

    $
    415,000

    1,715,000

    415,000

    Valuation allowance

    (1,715,000
    )

    (415,000
    )
  
    Net deferred tax assets
     
    $
    -

    $
    -

In
assessing the potential realization of deferred tax assets, management considers whether it is more likely than not that some portion
or all of the deferred tax assets will be realized. The ultimate realization of deferred tax assets is dependent upon the Company attaining
future taxable income during the periods in which those temporary differences become deductible. As of December 31, 2023 and 2022, management
was unable to determine if it is more likely than not that the Company’s deferred tax assets will be realized and has therefore
recorded an appropriate valuation allowance against deferred tax assets at such dates.

No
U.S. federal tax provision has been provided for the Company for the years ended December 31, 2024 and 2023 due to the losses incurred
during the periods.

The
reconciliation below presents the difference between the income tax rate computed by applying the U.S. federal statutory rate and the
effective tax rate for the years ended December 31, 2024 and 2023.

    December 31, 2024  
    December 31, 2023 
  
    U. S. federal statutory tax rate 
     (21.0)% 
     (21.0)%
  
    Change in valuation allowance 
     21.0% 
     21.0%
  
    Effective tax rate 
     0.0% 
     0.0