Company: TCRG
Filing Date: 2025-11-18
Form Type: 10-Q
Source: 0001185185-25-001785
Chunk: 22

Company: Cannaisseur Group Inc.
Filing Date: 2025-11-18
Form: 10-Q
Item: Item 1
Chunk 22
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 $5,000 and $162, respectively, due under the Brown Note 3 at a price of $0.15
per share into 34,415 shares of common stock. The fair value of the stock at the conversion date was $0.14 per share, and the Company
recognized a gain on conversion of debt in the amount of $344 in additional paid-in capital.

Convertible Note Payable in the amount of $6,000,
dated August 15, 2024, payable to Ridolfo R. Brown, a related party. The note bears interest at 6.5% and has a maturity date of August
15, 2026. 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 and nine months ended September 30, 2025, the Company accrued interest in
the amount of $0 and $145, respectively, on this note.

On June 2, 2025, the Company and Mr. Brown agreed
to convert principal and accrued interest in the amount of $6,000 and $292, respectively, due under the Brown Note 2 at a price of $0.15
per share into 41,950 shares of common stock. The fair value of the stock at the conversion date was $0.14 per share, and the Company
recognized a gain on conversion of debt in the amount of $6,650 in additional paid-in capital.

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