WEED INC
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
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Item 1. Unaudited Consolidated Balance Sheets
CONSOLIDATED BALANCE SHEETS
(Unaudited)
| March 31, 2024 | December 31, | |
|---|---|---|
| ASSETS | ||
| CURRENT ASSETS: | ||
| Cash | $102,696 | $290,409 |
| Prepaid expenses | 21,435 | 24,622 |
| Other current asset | 4,439 | 4,855 |
| TOTAL CURRENT ASSETS | 128,570 | 319,886 |
| Land | 258,319 | 258,319 |
| Building | 218,681 | 218,681 |
| Computers & Equipment | 147,771 | 147,771 |
| Property and equipment, gross | 624,771 | 624,771 |
| Less: Accumulated depreciation | (113,502) | (108,431) |
| Property and equipment, net | 511,269 | 516,340 |
| Grower License | 667 | 667 |
| Trademark | 50,000 | 50,000 |
| Intangible assets, gross | 50,667 | 50,667 |
| Less: Accumulated amortization | (15,134) | (14,484) |
| Intangible assets, net | 35,533 | 36,183 |
| ROU asset | 28,435 | 31,653 |
| TOTAL ASSETS | $703,807 | $904,062 |
| LIABILITIES AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| CURRENT LIABILITIES | ||
| Accounts payable | $188,798 | $183,565 |
| Accrued expense | 71,100 | 64,778 |
| Accrued officer compensation | 128,879 | 182,500 |
| Accrued interest | 13,300 | 13,000 |
| Notes payable, related parties | 125,637 | 133,073 |
| Notes payable - in default | 3,661 | 3,661 |
| Asset retirement obligation | 35,800 | 35,800 |
| Lease liability | 28,435 | 31,653 |
| Due to officer | 723 | 723 |
| TOTAL CURRENT LIABILITIES | 596,333 | 648,753 |
| TOTAL LIABILITIES | 596,333 | 648,753 |
| STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Common stock, $0.001 par value, 200,000,000 authorized, 123,482,685 and 123,482,685 issued and outstanding, respectively | 123,483 | 123,483 |
| Additional paid-in capital | 83,818,651 | 83,818,351 |
| Subscription payable | 723,750 | 701,250 |
| Accumulated deficit | (84,563,215) | (84,392,563) |
| Accumulated other comprehensive loss: | ||
| Foreign currency translation | 4,805 | 4,788 |
| TOTAL STOCKHOLDERS’ EQUITY | 107,474 | 255,309 |
| TOTAL LIABILITIES & STOCKERHOLDERS’ EQUITY | $703,807 | $904,062 |
WEED, INC.
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