WEED INC

Previous wording

Our net income increased by $62,490, from $(173,443) to $(110,953), from the three months ended June 30, 2023, compared to the three months ended June 30, 2024. Our net operating loss decreased by $11,208, from $(156,163) to $(144,995) for the same period.

Current wording

Our net income decreased by $830,135, from $734,248to $(95,887), from the three months ended September 30, 2023, compared to the three months ended September 30, 2024. Our net operating loss decreased by $146,175 from $(238,824) to $(92,649) for the same period.

Previous wording

General and administrative expenses decreased by $23,434, from $108,730 for the three months ended June 30, 2023, to $85,296 for the three months ended June 30, 2024.

Current wording

General and administrative expenses decreased by $39,478, from $25,355 for the three months ended September 30, 2023, to $64,833 for the three months ended September 30, 2024.

Previous wording

Our professional fees increased by $27,397 during the three months ended June 30, 2024, compared to the three months ended June 30, 2023. Our professional fees were $51,474 for the three months ended June 30, 2024, and $24,077 for the three months ended June 30, 2023. These fees are largely related to fees paid for legal and accounting services, along with compensation to independent contractors. We expect these fees to vary quarter-to-quarter as our business and stock price fluctuate if we continue to use stock-based compensation. In the event we undertake an unusual transaction, such as an acquisition, securities offering, or file a registration statement, we would expect these fees to substantially increase during that period.

Current wording

Our professional fees decreased by $182,939 during the three months ended September 30, 2024, compared to the three months ended September 30, 2023. Our professional fees were $22,195 for the three months ended September 30, 2024, and $205,134 for the three months ended September 30, 2023. These fees are largely related to fees paid for legal and accounting services, along with compensation to independent contractors. We expect these fees to vary quarter-to-quarter as our business and stock price fluctuate if we continue to use stock-based compensation. In the event we undertake an unusual transaction, such as an acquisition, securities offering, or file a registration statement, we would expect these fees to substantially increase during that period.

Previous wording

During the three months ended June 30, 2024, we had depreciation and amortization expense of $8,185, compared to $23,356 in the three months ended June 30, 2023. Our depreciation and amortization expense primarily relates to our property and trademark acquisitions.

Current wording

During the three months ended September 30, 2024, we had depreciation and amortization expense of $5,621, compared to $8,335in the three months ended September 30, 2023. Our depreciation and amortization expense primarily relates to our property and trademark acquisitions.

Previous wording

Interest expense decreased from $(17,280) for the three months ended June 30, 2023, to $(599) for the three months ended June 30, 2024. Our interest expense primarily relates to notes payable from related parties.

Current wording

Interest expense decreased from $(15,303) for the three months ended September 30, 2023, to $(3,238) for the three months ended September 30, 2024. Our interest expense primarily relates to notes payable from related parties.

Previous wording

Our comprehensive net loss decreased by $85,846, from ($367,838) to ($281,992), from the six months ended June 30, 2023, compared to the six months ended June 30, 2024. Our operating loss decreased by $25,063, from ($340,071) to ($315,008) for the same period. These changes are detailed below.

Current wording

Our comprehensive net loss decreased by $745,811, from $367,775 to ($378,036), from the nine months ended September 30, 2023, compared to the nine months ended September 30, 2024. Our operating loss decreased by $176,365 from ($578,895) to ($402,530) for the same period. These changes are detailed below.

Previous wording

Our professional fees increased by $26,504, from $50,173 for the six months ended June 30, 2023 to $76,677 for the six months ended June 30, 2024, primarily due to reduced consulting activities. These fees are largely related to fees paid for legal and accounting services, along with compensation to independent contractors, and decreased significantly primarily as a result of decreases in the value of stock-based compensation awards due to issuing shares for services during the period. We expect these fees to vary quarter-to-quarter as our business and stock price fluctuate if we continue to use stock-based compensation. In the event we undertake an unusual transaction, such as an acquisition, securities offering, or file a registration statement, we would expect these fees to substantially increase during that period.

Current wording

Our professional fees increased by $156,435, from $255,307 for the nine months ended September 30, 2023 to $98,872for the nine months ended September 30, 2024, primarily due to reduced consulting activities. These fees are largely related to fees paid for legal and accounting services, along with compensation to independent contractors, and decreased significantly primarily as a result of decreases in the value of stock-based compensation awards due to issuing shares for services during the period. We expect these fees to vary quarter-to-quarter as our business and stock price fluctuate if we continue to use stock-based compensation. In the event we undertake an unusual transaction, such as an acquisition, securities offering, or file a registration statement, we would expect these fees to substantially increase during that period.

Previous wording

During the six months ended June 30, 2024 we had depreciation and amortization expense of $16,470, compared to $47,386 in the six months ended June 30, 2023. Our depreciation and amortization expense primarily relates to our property and trademark acquisitions.

Current wording

During the nine months ended September 30, 2024 we had depreciation and amortization expense of $16,964, compared to $55,721in the nine months ended September 30, 2023. Our depreciation and amortization expense primarily relates to our property and trademark acquisitions.

Previous wording

Interest expense decreased from ($30,386) for the six months ended June 30, 2023 to ($1,198) for the six months ended June 30, 2024. Our interest expense primarily relates to notes payable from related parties.

Current wording

Interest expense decreased from ($45,689) for the nine months ended September 30, 2023 to ($9,563) for the nine months ended September 30, 2024. Our interest expense primarily relates to notes payable from related parties.

Previous wording

During the six months ended June 30, 2024, because of our operating losses, we did not generate positive operating cash flows. Our cash on hand as of June 30, 2024, was $15,171 and our monthly cash flow burn rate was approximately $46,000. We currently do not believe we will be able to satisfy our cash needs from our revenues for many years to come.

Current wording

During the nine months ended September 30, 2024, because of our operating losses, we did not generate positive operating cash flows. Our cash on hand as of September 30, 2024, was $5,311and our monthly cash flow burn rate was approximately $32,000. We currently do not believe we will be able to satisfy our cash needs from our revenues for many years to come.

Previous wording

Our total assets decreased by $300,766 as of June 30, 2024, as compared to December 31, 2023. The decrease in our total assets between the two periods was attributed to decreases in our property and equipment, intangible assets, ROU assets.

Current wording

Our total assets decreased by $307,244 as of September 30, 2024, as compared to December 31, 2023. The decrease in our total assets between the two periods was attributed to decreases in our property and equipment, intangible assets, ROU assets.

Previous wording

Our current liabilities and total liabilities decreased by $52,974, as of June 30, 2024, as compared to December 31, 2023. This decrease was primarily due to decreases in accrued officer compensation, notes payable- related parties, accounts payable, lease liability and partially offset by increase in accrued expense and accrued interest.

Current wording

Our current liabilities and total liabilities increased by $36,291, as of September 30, 2024, as compared to December 31, 2023. This increase was primarily due to increases in accounts payable, accrued expenses, accrued interest, notes payable -related parties and partially offset by decreases in accrued officer compensation and lease liability.

Previous wording

We had cash available of $15,171 and $290,409 as of June 30, 2024 and December 31, 2023, respectively. Based on our lack of revenues, our cash on hand and current monthly burn rate of approximately $46,000, we will need to continue borrowing from our shareholders and other related parties, and/or raise money from the sales of our securities, to fund operations.

Current wording

We had cash available of $5,311and $290,409 as of September 30, 2024 and December 31, 2023, respectively. Based on our lack of revenues, our cash on hand and current monthly burn rate of approximately $32,000, we will need to continue borrowing from our shareholders and other related parties, and/or raise money from the sales of our securities, to fund operations.

Previous wording

We had net cash used in operating activities of $259,451 for the six months ended June 30, 2024, as compared to $282,998 for the six months ended June 30, 2023. For the period in 2024, the net cash used in operating activities consisted primarily of our net income of $281,605, adjusted by depreciation and amortization of $11,343, debt discount amortization of $5,127, estimated fair value of shares issued for services of $14,000, estimated fair value of shares issued for services of $20,000, and imputed interest on RP loans of $600, and further adjusted by decreases in assets related to prepaid expenses and deposits of $7,709 and increases in liabilities consisting of accounts payable of $(6,789) and accrued expenses of $(29,836). For the period in 2023, the net cash used in operating activities consisted primarily of our net loss of ($370,458), adjusted by depreciation and amortization of $47,386, debt discount amortization of $4,293, estimated fair value of shares issued for services of $45,000, imputed interest on RP loans of $16,386, and further adjusted by decreases in prepaid expenses and deposits of $3,750 and accounts payable of $(38,696), and decreases in accrued expenses of $9,341.

Current wording

We had net cash used in operating activities of $279,154 for the nine months ended September 30, 2024, as compared to $734,202 for the nine months ended September 30, 2023. For the period in 2024, the net cash used in operating activities consisted primarily of our net loss of $377,492, adjusted by depreciation and amortization of $16,964, debt discount amortization of $7,691, estimated fair value of shares issued for services of $14,000, estimated fair value of shares issued for services of $20,000, and imputed interest on RP loans of $900, and further adjusted by decreases in assets related to prepaid expenses and deposits of $4,592 and increases in liabilities consisting of accounts payable of $16,631and accrued expenses of $17,829. For the period in 2023, the net cash used in operating activities consisted primarily of our net income of $363,790, adjusted by depreciation and amortization of $55,721, debt discount amortization of $4,292, estimated fair value of shares issued for services of $67,500, imputed interest on RP loans of $16,686, and further adjusted by decreases in prepaid expenses and deposits of $(14,171) and accounts payable of $(42,174), and decreases in accrued expenses of $(197,471).

Previous wording

For the three months ended June 30, 2024, we had no cash flows provided from investing activities. For the six months ended June 30, 2023, we had cash flows used in investing activities of ($10,000), all related to purchases of property and equipment.

Current wording

For the nine months ended September 30, 2024, we had no cash flows provided from investing activities. For the nine months ended September 30, 2023, we had cash flows used in investing activities of $1,631,073, primarily related to the proceeds from disposal of a fixed asset of $1,641,073, slightly offset by ($10,000) related to purchases of property and equipment.

Previous wording

Our net cash used in financing activities for the six months ended June 30, 2024, was $(15,000). For the period in 2023, our financing activities related to proceeds of note payable of $50,000 partially offset by repayments of notes payable-related party of ($42,979).

Current wording

Our net cash used in financing activities for the nine months ended September 30, 2024, was $(5,000). For the period in 2023, our financing activities related to proceeds of note payable of $50,000, offset by repayments of notes payable-related party of ($622,979).