10-K/A Filing

TREES CORP (COLORADO) CIK: 1477009 FY 2019

Filing Information

Form Type	10-K/A
Accession Number	`0001104659-20-081458`
Period End Date	20191231
Filing Date	20200707
Fiscal Year	2019
Fiscal Period	FY
XBRL Instance	cann-20191231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 72 Income Statement 48 Cash Flow Statement 54 Stockholders Equity 17

Balance Sheet 72 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.60M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$122.39K	USD	Point-in-time
Preferred Stock, Shares Authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$116.62K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$85.20K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Note receivable, net - current portion	`NoteReceivableNet`	$50.00K	USD	Point-in-time
Note receivable, net - current portion	`NoteReceivableNet`	$375.00K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$421.58K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$546.97K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$375.22K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroupCurrent`	$649.77K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$144.37K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	39.50M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	36.22M	shares	Point-in-time
Assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$47.45K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	3.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	42,736.00	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	39.50M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	36.22M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.55M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$8.99M	USD	Point-in-time
Note receivable, net	`AccountsReceivableNetNoncurrent`	$93.33K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.44M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.51M	USD	Point-in-time
Investment	`Investments`	$250.00K	USD	Point-in-time
Investment	`Investments`	$250.00K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroup`	$15.58K	USD	Point-in-time
Assets held for sale	`AssetsHeldForSaleNotPartOfDisposalGroup`	$66.25K	USD	Point-in-time
Assets of discontinued operations	`AssetsOfDisposalGroupIncludingDiscontinuedOperation`	$83.53K	USD	Point-in-time
Total Assets	`Assets`	$3.50M	USD	Point-in-time
Total Assets	`Assets`	$10.74M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$1.22M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$442.71K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$93.38K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$308.11K	USD	Point-in-time
Customer deposits	`ContractWithCustomerLiabilityCurrent`	$562.80K	USD	Point-in-time
Accrued stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$80.66K	USD	Point-in-time
Notes payable (net of discount)	`NotesAndLoansPayableCurrent`	$5.27M	USD	Point-in-time
Notes payable (net of discount)	`NotesAndLoansPayableCurrent`	$2.23M	USD	Point-in-time
Related party note payable (net of discount)	`LinesOfCreditCurrent`	$99.67K	USD	Point-in-time
Warrant derivative liability	`DerivativeLiabilitiesCurrent`	$4.62M	USD	Point-in-time
Liabilities held for sale	`OtherLiabilitiesCurrent`	$149.25K	USD	Point-in-time
Liabilities held for sale	`OtherLiabilitiesCurrent`	$159.94K	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$6.22K	USD	Point-in-time
Liabilities of discontinued operations	`LiabilitiesOfDisposalGroupIncludingDiscontinuedOperationCurrent`	$207.99K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$9.27M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.19M	USD	Point-in-time
Commitments and Contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies (Note 13)	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 shares authorized; no shares issued and outstanding at December 31, 2019 and 2018	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 shares authorized; no shares issued and outstanding at December 31, 2019 and 2018	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 39,497,480 shares and 36,222,752 shares issued and outstanding on December 31, 2019 and 2018, respectively	`CommonStockValue`	$39.50K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 39,497,480 shares and 36,222,752 shares issued and outstanding on December 31, 2019 and 2018, respectively	`CommonStockValue`	$36.22K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.30M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$61.47M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.79M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-67.27M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$3.51M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-5.76M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$4.55M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$10.74M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$3.50M	USD	Point-in-time

Income Statement 48 line items

Line Item	Tag	Value	Unit	Period
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$18.75K	USD	Annual
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$95.44K	USD	Annual
Total revenues	`Revenues`	$3.67M	USD	Annual
Total revenues	`Revenues`	$1.74M	USD	Annual
Cost of service revenues	`CostOfServiceRevenues`	$858.71K	USD	Annual
Cost of service revenues	`CostOfServiceRevenues`	$1.06M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$400.10K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$1.61M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.41M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.38M	USD	Annual
Share-based expense	`ShareBasedCompensation`	$3.97M	USD	Annual
Share-based expense	`ShareBasedCompensation`	$6.00M	USD	Annual
Professional fees	`ProfessionalFees`	$1.38M	USD	Annual
Professional fees	`ProfessionalFees`	$1.60M	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$62.44K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$115.70K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$12.31M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$12.53M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-10.57M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-8.86M	USD	Annual
Amortization of debt discount and equity issuance costs	`AmortizationOfDebtDiscountAndEquityIssuanceCosts`	$4.23M	USD	Annual
Amortization of debt discount and equity issuance costs	`AmortizationOfDebtDiscountAndEquityIssuanceCosts`	$2.02M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$377.30K	USD	Annual
Interest expense, net	`InterestExpense`	$345.37K	USD	Annual
Interest expense, net	`InterestExpense`	$323.56K	USD	Annual
Loss on warrant derivative liability	`GainLossOnSaleOfPropertyPlantEquipment`	$-2.20M	USD	Annual
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-182.14K	USD	Annual
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$147.03K	USD	Annual
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$823.82K	USD	Annual
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-4.95M	USD	Annual
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-5.56M	USD	Annual
NET LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-13.81M	USD	Annual
NET LOSS FROM CONTINUING OPERATIONS	`IncomeLossFromContinuingOperations`	$-16.14M	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-838.45K	USD	Annual
Loss from discontinued operations	`IncomeLossFromDiscontinuedOperationsNetOfTax`	$-1.68M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-15.48M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-16.97M	USD	Annual
Deemed dividend	`Dividends`	$2.34M	USD	Annual
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-16.97M	USD	Annual
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS	`NetIncomeLossAvailableToCommonStockholdersBasic`	$-17.82M	USD	Annual
Net loss from continuing operations per share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.36	USD	Annual
Net loss from continuing operations per share (in Dollars per share)	`IncomeLossFromContinuingOperationsPerBasicAndDilutedShare`	$-0.46	USD	Annual
Net loss from discontinued operations per share (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.04	USD	Annual
Net loss from discontinued operations per share (in Dollars per share)	`IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare`	$-0.02	USD	Annual
Net loss attributable to common stockholders per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.47	USD	Annual
Net loss attributable to common stockholders per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.49	USD	Annual
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	38.11M	shares	Annual
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	34.94M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-15.48M	USD	Annual
Net loss	`NetIncomeLoss`	$-16.97M	USD	Annual
Amortization of debt discount and equity issuance costs	`AmortizationOfDebtDiscountAndEquityIssuanceCosts`	$4.23M	USD	Annual
Amortization of debt discount and equity issuance costs	`AmortizationOfDebtDiscountAndEquityIssuanceCosts`	$2.02M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$149.50K	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$196.25K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$174.25K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$87.59K	USD	Annual
Impairment of assets	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$147.03K	USD	Annual
Impairment of assets	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$823.82K	USD	Annual
Impairment of Desert Created investment	`OtherAssetImpairmentCharges`	$823.82K	USD	Annual
Loss from Desert Created investment	`LossFromDesertCreatedInvestment`	$182.14K	USD	Annual
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$3.97M	USD	Annual
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$6.00M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$56.95K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$101.77K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$138.25K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-231.75K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$23.77K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$88.49K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-311.63K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$1.24M	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-5.73M	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-5.33M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$318.64K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$241.31K	USD	Annual
Lending on notes receivable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-705.00K	USD	Annual
Lending on notes receivable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-650.00K	USD	Annual
Proceeds on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$270.00K	USD	Annual
Proceeds on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$600.00K	USD	Annual
Proceeds on investment in Desert Created	`ProceedsOnInvestmentInDesertCreated`	$-23.05K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-568.27K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-753.64K	USD	Annual
Note principal used to exercise warrants	`ProceedsFromWarrantExercises`	$3.99M	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$188.77K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$721.03K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$1.46M	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$7.50M	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$5.90M	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$1.62M	USD	Annual
Payments on Infinity Note related party	`RepaymentsOfLongTermDebt`	$1.37M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.21M	USD	Annual
Net cash provided by (used in) financing activities	`NetCashProvidedByUsedInFinancingActivities`	$-1.65M	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.92M	USD	Annual
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-7.73M	USD	Annual
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.96M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$224.99K	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$7.96M	USD	Point-in-time
CASH AND CASH EQUIVALENTS, END OF PERIOD	`CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents`	$224.99K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$305.19K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$637.59K	USD	Annual
Issuance of common stock for accrued stock payable	`ProceedsFromIssuanceOfCommonStock`	$321.86K	USD	Annual
Issuance of common stock and warrants for investment in Desert Created	`ProceedsFromIssuanceOfCommonStockAndWarrants`	$979.00K	USD	Annual
Issuance of common stock and warrants for investment in Desert Created	`ProceedsFromIssuanceOfCommonStockAndWarrants`	$3.00M	USD	Point-in-time

Stockholders Equity 17 line items

Line Item	Tag	Value	Unit	Period
Balance at the beginning of the year	`StockholdersEquity`	$3.51M	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$-5.76M	USD	Point-in-time
Balance at the beginning of the year	`StockholdersEquity`	$4.55M	USD	Point-in-time
Common stock issued upon exercise of warrants for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$4.80M	USD	Annual
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$188.77K	USD	Annual
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$721.03K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$235.00K	USD	Annual
Stock options granted to employees and consultants	`StockOptionPlanExpense`	$3.89M	USD	Annual
Stock options granted to employees and consultants	`StockOptionPlanExpense`	$3.63M	USD	Annual
Sale of common stock, net of issuance costs	`StockIssuedDuringPeriodValueNewIssues`	$506.61K	USD	Annual
Warrants issued with Notes	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$28.80K	USD	Annual
Common stock issued for property and equipment	`StockIssuedDuringPeriodValuePropertyAndEquipment`	$8.00K	USD	Annual
Net loss	`ProfitLoss`	$-16.97M	USD	Annual
Net loss	`ProfitLoss`	$-15.48M	USD	Annual
Balance at the end of the year	`StockholdersEquity`	$3.51M	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$-5.76M	USD	Point-in-time
Balance at the end of the year	`StockholdersEquity`	$4.55M	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.