2024 Q1 Form 10-K Financial Statement

#000109690624000701 Filed on April 01, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $0.00 $0.00 $0.00
YoY Change
Cost Of Revenue $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit $0.00 $0.00 $0.00
YoY Change -100.0%
Gross Profit Margin
Selling, General & Admin $161.8K $195.0K $718.2K
YoY Change 1.18% -26.34% -48.48%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $5.071K -$7.610K $49.79K
YoY Change -75.64% -128.85% -53.08%
% of Gross Profit
Operating Expenses $170.1K $191.7K $770.6K
YoY Change -7.53% -34.15% -48.81%
Operating Profit -$170.1K -$191.7K -$770.6K
YoY Change -7.53% -33.65% -48.81%
Interest Expense $599.00 $320.00 $45.37K
YoY Change -95.43% -101.55% -61.26%
% of Operating Profit
Other Income/Expense, Net -$599.00 -$203.0K $203.0K
YoY Change 9003.59% 28135.05%
Pretax Income -$170.7K -$394.4K -$30.58K
YoY Change -13.38% -53.95% -98.0%
Income Tax $0.00 $980.00 $980.00
% Of Pretax Income
Net Earnings -$170.7K -$395.3K -$31.56K
YoY Change -13.38% -53.84% -97.93%
Net Earnings / Revenue
Basic Earnings Per Share
Diluted Earnings Per Share $0.00 $0.00 $0.00
COMMON SHARES
Basic Shares Outstanding 123.5M shares 123.5M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $102.7K $290.4K $290.4K
YoY Change 7.26% -8.05% -8.05%
Cash & Equivalents $102.7K $290.4K
Short-Term Investments
Other Short-Term Assets $4.439K $4.855K $24.62K
YoY Change 13.47% 199.14% -0.04%
Inventory
Prepaid Expenses $21.44K $24.62K
Receivables $4.440K $4.860K $4.860K
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $128.6K $319.9K $319.9K
YoY Change 7.63% -6.49% -6.49%
LONG-TERM ASSETS
Property, Plant & Equipment $511.3K $516.3K $548.0K
YoY Change -57.32% -57.29% -56.26%
Goodwill $0.00
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets $575.2K $584.2K $584.2K
YoY Change -54.96% -54.78% -54.78%
TOTAL ASSETS
Total Short-Term Assets $128.6K $319.9K $319.9K
Total Long-Term Assets $575.2K $584.2K $584.2K
Total Assets $703.8K $904.1K $904.1K
YoY Change -49.61% -44.67% -44.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $188.8K $183.6K $183.6K
YoY Change 15.21% -3.27% -3.27%
Accrued Expenses $71.10K $64.78K $327.7K
YoY Change 56.33% 53.48% -41.82%
Deferred Revenue
YoY Change
Short-Term Debt $129.3K $136.7K $136.7K
YoY Change -80.98% -80.75% -80.75%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $596.3K $648.8K $648.8K
YoY Change -57.27% -55.69% -55.69%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $0.00 $0.00 $0.00
YoY Change
TOTAL LIABILITIES
Total Short-Term Liabilities $596.3K $648.8K $648.8K
Total Long-Term Liabilities $0.00 $0.00 $0.00
Total Liabilities $596.3K $648.8K $648.8K
YoY Change -57.27% -55.69% -55.69%
SHAREHOLDERS EQUITY
Retained Earnings -$84.56M -$84.39M
YoY Change 0.01% 0.04%
Common Stock $123.5K $123.5K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $107.5K $255.3K $255.3K
YoY Change
Total Liabilities & Shareholders Equity $703.8K $904.1K $904.1K
YoY Change -49.61% -44.67% -44.67%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income -$170.7K -$395.3K -$31.56K
YoY Change -13.38% -53.84% -97.93%
Depreciation, Depletion And Amortization $5.071K -$7.610K $49.79K
YoY Change -75.64% -128.85% -53.08%
Cash From Operating Activities -$177.7K -$344.1K -$1.074M
YoY Change 0.31% 90.87% 32.12%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $0.00 $10.00K
YoY Change -100.0%
Acquisitions
YoY Change
Other Investing Activities $1.070K $1.641M
YoY Change 30.55%
Cash From Investing Activities $0.00 $1.070K $1.631M
YoY Change -100.0% 29.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$10.00K -17.98K -$588.0K
YoY Change -69.5% -55.03% 295.5%
NET CHANGE
Cash From Operating Activities -$177.7K -344.1K -$1.074M
Cash From Investing Activities $0.00 1.070K $1.631M
Cash From Financing Activities -$10.00K -17.98K -$588.0K
Net Change In Cash -$187.7K -361.0K -$30.99K
YoY Change -14.65% 63.9% -110.49%
FREE CASH FLOW
Cash From Operating Activities -$177.7K -$344.1K -$1.074M
Capital Expenditures $0.00 $0.00 $10.00K
Free Cash Flow -$177.7K -$344.1K -$1.084M
YoY Change -5.05% 90.87% 33.35%

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CY2022 us-gaap Income Taxes Paid Net
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CY2023 budz Acquistion Of Hemprical Genetics With Common Stock And Note Payable
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CY2023 us-gaap Nature Of Operations
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">WEED, Inc. (the “Company”), (formerly United Mines, Inc.) was incorporated under the laws of the State of Arizona on August 20, 1999 (“Inception Date”) as Plae, Inc. to engage in the exploration of gold and silver mining properties. On November 26, 2014, the Company was renamed from United Mines, Inc. to WEED, Inc. and was repurposed to pursue a business involving the purchase of land, and building Commercial Grade “Cultivation Centers” to consult, assist, manage &amp; lease to Licensed Dispensary owners and organic grow operators on a contract basis, with a concentration on the legal and medical marijuana sector. The Company’s plan is to become a True “Seed-to-Sale” company providing infrastructure, financial solutions and real estate options in this new emerging market. The Company, under United Mines, was formerly in the process of acquiring mineral properties or claims located in the State of Arizona, USA. The name was previously changed on February 18, 2005 to King Mines, Inc. and then subsequently changed to United Mines, Inc. on March 30, 2005. The Company trades on the OTC Pink Sheets under the stock symbol: BUDZ.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On April 20, 2017, the Company acquired Sangre AT, LLC, a Wyoming company doing business as Sangre AgroTech. (“Sangre”). Sangre is a plant genomic research and breeding company comprised of top-echelon scientists with extensive expertise in genomic sequencing, genetics-based breeding, plant tissue culture, and plant biochemistry, utilizing the most advanced sequencing and analytical technologies and proprietary bioinformatics data systems available. No work is being conducted now until further funds are available.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">On May 2, 2022, the Company acquired Hempirical Genetics, LLC, a Arizona company. </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America. These statements reflect all adjustments, consisting of normal recurring adjustments, which in the opinion of management are necessary for fair presentation of the information contained therein.</p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;"> </p><p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The Company has a calendar year end for reporting purposes.</p>
CY2023 us-gaap Basis Of Accounting
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The accompanying consolidated balance sheet at December 31, 2023, has been derived from audited consolidated financial statements and the audited condensed consolidated financial statements as of December 31, 2023 and 2022 ( the “financial statements”), have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and with the instructions to Form 10-Q and Article 8 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and should be read in conjunction with the audited consolidated financial statements and related footnotes. It is management’s opinion, however, that all material adjustments (consisting of normal recurring adjustments), have been made which are necessary for a fair financial statements presentation. The consolidated financial statements include all material adjustments (consisting of normal recurring accruals) necessary to make the consolidated financial statements not misleading as required by Regulation S-X, Rule 10-01. Interim result are not necessarily indicative of results for a full year.</p>
CY2023 dei Parent Entity Legal Name
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WEED, Inc.
CY2023 us-gaap Use Of Estimates
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<p style="FONT-SIZE: 10pt; FONT-FAMILY: times new roman; MARGIN: 0px; text-align:justify;">The preparation of financial statements in conformity with accounting principles generally accepted in the United States requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
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CY2023 budz Common Stock Issued For Stock Payable Shares
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CY2023 budz Common Stock Issued For Stock Payable Value
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Files In Submission

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0001096906-24-000701-index.html Edgar Link pending
0001096906-24-000701.txt Edgar Link pending
0001096906-24-000701-xbrl.zip Edgar Link pending
budz-20231231.xsd Edgar Link pending
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weed-10k_htm.xml Edgar Link completed