10-Q Filing

TREES CORP (COLORADO) CIK: 1477009 Q1 2015

Filing Information

Form Type	10-Q
Accession Number	`0001398432-15-000248`
Period End Date	20150331
Filing Date	20150515
Fiscal Year	2015
Fiscal Period	Q1
XBRL Instance	cann-20150331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 44 Cash Flow Statement 66

Balance Sheet 75 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, par value	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, shares authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$165.54K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$99.69K	USD	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$427.44K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$17.38K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$18.32K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$49.21K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$22.40K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryNet`	$81.58K	USD	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory	`InventoryNet`	$70.34K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$247.85K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	13.27M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	12.50M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$276.60K	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	13.27M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.72M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.71M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.40M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Goodwill	`Goodwill`	$487.00K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$73.47K	USD	Point-in-time
Deferred financing costs, net	`DeferredFinanceCostsNoncurrentNet`	$83.06K	USD	Point-in-time
Total Assets	`Assets`	$2.07M	USD	Point-in-time
Total Assets	`Assets`	$3.92M	USD	Point-in-time
Accrued stock payable, current portion	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$1.50M	USD	Point-in-time
Accrued stock payable, current portion	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$385.92K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$601.62K	USD	Point-in-time
Derivative liability	`DerivativeLiabilitiesCurrent`	$3.89M	USD	Point-in-time
Related party line of credit	`NotesPayableRelatedPartiesClassifiedCurrent`	$239.00K	USD	Point-in-time
Related party line of credit	`NotesPayableRelatedPartiesClassifiedCurrent`	-	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$99.66K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$133.39K	USD	Point-in-time
Deferred Rent Credit, Current	`DeferredRentCreditCurrent`	-	USD	Point-in-time
Deferred Rent Credit, Current	`DeferredRentCreditCurrent`	$18.24K	USD	Point-in-time
Convertible notes payable (net of debt discount), current portion	`ConvertibleNotesPayableCurrent`	$6.47K	USD	Point-in-time
Convertible notes payable (net of debt discount), current portion	`ConvertibleNotesPayableCurrent`	$6.34K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$4.39M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.49M	USD	Point-in-time
Convertible notes payable (net of debt discount), less current portion	`LongTermNotesPayable`	$997.17K	USD	Point-in-time
Convertible notes payable (net of debt discount), less current portion	`LongTermNotesPayable`	$1.06M	USD	Point-in-time
Accrued stock payable, less current portion	`DeferredCompensationSharebasedArrangementsLiabilityClassifiedNoncurrent`	$221.00K	USD	Point-in-time
Accrued stock payable, less current portion	`DeferredCompensationSharebasedArrangementsLiabilityClassifiedNoncurrent`	$138.12K	USD	Point-in-time
Tenant deposits	`SecurityDepositLiability`	$8.85K	USD	Point-in-time
Tenant deposits	`SecurityDepositLiability`	$8.85K	USD	Point-in-time
Total Liabilities	`Liabilities`	$5.59M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.72M	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Commitments and Contingencies	`CommitmentsAndContingencies`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 share authorized; no shares issued and outstanding at March 31, 2015 and December 31, 2014	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 share authorized; no shares issued and outstanding at March 31, 2015 and December 31, 2014	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 13,268,409 shares and 12,499,933 shares issued and outstanding on March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$12.50K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 13,268,409 shares and 12,499,933 shares issued and outstanding on March 31, 2015 and December 31, 2014, respectively	`CommonStockValue`	$13.27K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$8.66M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$4.11M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-7.64M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-8.47M	USD	Point-in-time
Total Stockholders' Equity (Deficiency)	`StockholdersEquity`	$203.05K	USD	Point-in-time
Total Stockholders' Equity (Deficiency)	`StockholdersEquity`	$-3.52M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$3.92M	USD	Point-in-time
Total Liabilities and Stockholders' Equity	`LiabilitiesAndStockholdersEquity`	$2.07M	USD	Point-in-time

Income Statement 44 line items

Line Item	Tag	Value	Unit	Period
Security services revenue	`SalesRevenueServicesGross`	-	USD	1 Quarter
Security services revenue	`SalesRevenueServicesGross`	$17.38K	USD	1 Quarter
Cost of security services revenue	`CostOfServicesDirectLabor`	-	USD	1 Quarter
Cost of security services revenue	`CostOfServicesDirectLabor`	$14.14K	USD	1 Quarter
Security services revenue, net	`SalesRevenueServicesNet`	$3.25K	USD	1 Quarter
Security services revenue, net	`SalesRevenueServicesNet`	-	USD	1 Quarter
Wholesale sales, net	`SalesRevenueGoodsNet`	$12.80K	USD	1 Quarter
Wholesale sales, net	`SalesRevenueGoodsNet`	-	USD	1 Quarter
Tenant rentals	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$28.77K	USD	1 Quarter
Tenant rentals	`OperatingLeasesIncomeStatementMinimumLeaseRevenue`	$26.68K	USD	1 Quarter
Consulting revenue, net	`OtherSalesRevenueNet`	-	USD	1 Quarter
Consulting revenue, net	`OtherSalesRevenueNet`	$20.00K	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$48.77K	USD	1 Quarter
Net revenues	`SalesRevenueNet`	$42.72K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$54.48K	USD	1 Quarter
General and administrative	`GeneralAndAdministrativeExpense`	$82.94K	USD	1 Quarter
Payroll and related	`SalariesWagesAndOfficersCompensation`	$89.20K	USD	1 Quarter
Payroll and related	`SalariesWagesAndOfficersCompensation`	$105.14K	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Share-based compensation	`ShareBasedCompensation`	$248.62K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$94.11K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$82.52K	USD	1 Quarter
Office expense	`OtherGeneralExpense`	$13.26K	USD	1 Quarter
Office expense	`OtherGeneralExpense`	$7.69K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.12K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.01K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$252.93K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$537.14K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-204.17K	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-494.42K	USD	1 Quarter
Amortization of Financing Costs and Discounts	`AmortizationOfFinancingCostsAndDiscounts`	$304.84K	USD	1 Quarter
Amortization of Financing Costs and Discounts	`AmortizationOfFinancingCostsAndDiscounts`	$242.63K	USD	1 Quarter
Interest expense	`InterestExpense`	$69.21K	USD	1 Quarter
Interest expense	`InterestExpense`	$49.27K	USD	1 Quarter
Loss on change in fair value of derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-22.23K	USD	1 Quarter
Loss on change in fair value of derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-647.64K	USD	1 Quarter
Total other (expense)	`OtherNonoperatingIncomeExpense`	$-1.00M	USD	1 Quarter
Total other (expense)	`OtherNonoperatingIncomeExpense`	$-334.07K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-828.49K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.21M	USD	1 Quarter
Net loss per share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.09	USD	1 Quarter
Net loss per share basic and diluted	`IncomeLossFromContinuingOperationsPerBasicShare`	$-0.06	USD	1 Quarter
Weighted average number of common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.66M	shares	1 Quarter
Weighted average number of common shares outstanding basic and diluted	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.10M	shares	1 Quarter

Cash Flow Statement 66 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-828.49K	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.21M	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$3.12K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.01K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$304.84K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$233.05K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$9.58K	USD	1 Quarter
Amortization of deferred financing costs	`AmortizationOfFinancingCosts`	$6.00K	USD	1 Quarter
Gain (loss) on derivative liability, net	`DerivativeGainLossOnDerivativeNet`	$-647.64K	USD	1 Quarter
Gain (loss) on derivative liability, net	`DerivativeGainLossOnDerivativeNet`	$-22.23K	USD	1 Quarter
Issuance of common stock for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	-	USD	1 Quarter
Issuance of common stock for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$248.62K	USD	1 Quarter
(Increase) / decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-938.00	USD	1 Quarter
(Increase) / decrease in accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$65.62K	USD	1 Quarter
(Increase) / decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$7.30K	USD	1 Quarter
(Increase) / decrease in prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$26.80K	USD	1 Quarter
(Increase) in inventory	`IncreaseDecreaseInInventories`	$11.24K	USD	1 Quarter
(Increase) in inventory	`IncreaseDecreaseInInventories`	-	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInPrepaidExpense`	$12.73K	USD	1 Quarter
Increase in accounts payable and accrued expenses	`IncreaseDecreaseInPrepaidExpense`	$-34.80K	USD	1 Quarter
Increase in deferred rental revenue	`IncreaseDecreaseInPrepaidRent`	-	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-290.06K	USD	1 Quarter
Net cash provided by (used in) operating activities	`NetCashProvidedByUsedInOperatingActivities`	$-329.98K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$13.25K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$8.25K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-8.25K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.25K	USD	1 Quarter
Increase in short-term financing with related party	`ProceedsFromLinesOfCredit`	-	USD	1 Quarter
Increase in short-term financing with related party	`ProceedsFromLinesOfCredit`	$239.00K	USD	1 Quarter
Proceeds from sale of warrants, net	`ProceedsFromIssuanceOfWarrants`	$500.00K	USD	Point-in-time
Proceeds from sale of warrants, net	`ProceedsFromIssuanceOfWarrants`	$400.00K	USD	1 Quarter
Proceeds from sale of warrants, net	`ProceedsFromIssuanceOfWarrants`	-	USD	1 Quarter
Principal repayment on convertible notes payable	`RepaymentsOfConvertibleDebt`	$1.53K	USD	1 Quarter
Principal repayment on convertible notes payable	`RepaymentsOfConvertibleDebt`	$1.74K	USD	1 Quarter
Proceeds from issuance of convertible notes payable, net of cash expenses	`ProceedsFromConvertibleDebt`	-	USD	1 Quarter
Proceeds from issuance of convertible notes payable, net of cash expenses	`ProceedsFromConvertibleDebt`	$1.41M	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	$15.00K	USD	1 Quarter
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$237.47K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.80M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.46M	USD	1 Quarter
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-65.85K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$165.54K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$99.69K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$427.44K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$165.54K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$99.69K	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$1.88M	USD	Point-in-time
CASH, END OF PERIOD	`CashAndCashEquivalentsAtCarryingValue`	$427.44K	USD	Point-in-time
Cash paid for interest	`InterestPaid`	$46.94K	USD	1 Quarter
Cash paid for interest	`InterestPaid`	$46.48K	USD	1 Quarter
Value of common stock and warrants issuable in acquisition of IPG	`NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1`	-	USD	1 Quarter
Value of common stock and warrants issuable in acquisition of IPG	`NoncashOrPartNoncashAcquisitionValueOfAssetsAcquired1`	$1.89M	USD	1 Quarter
Non-cash financing costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	$100.00K	USD	1 Quarter
Non-cash financing costs	`DebtIssuanceCostsIncurredDuringNoncashOrPartialNoncashTransaction`	-	USD	1 Quarter
Convertible notes payable settled in stock	`DebtConversionOriginalDebtAmount1`	$290.00K	USD	1 Quarter
Convertible notes payable settled in stock	`DebtConversionOriginalDebtAmount1`	$255.00K	USD	1 Quarter
Interest on convertible notes payable settled in stock	`InterestOnConvertibleNotesPayableSettledInStock`	$1.06K	USD	1 Quarter
Interest on convertible notes payable settled in stock	`InterestOnConvertibleNotesPayableSettledInStock`	$3.67K	USD	1 Quarter
Warrants issued in connection with debt recorded as debt discount	`WarrantsIssuedAsPaymentForDeferredFinancingCosts`	$92.60K	USD	1 Quarter
Warrants issued in connection with debt recorded as debt discount	`WarrantsIssuedAsPaymentForDeferredFinancingCosts`	-	USD	1 Quarter
Stock Issued During Period, Value, Conversion of Convertible Securities	`StockIssuedDuringPeriodValueConversionOfConvertibleSecurities`	$3.31M	USD	1 Quarter
Stock and warrants issued in satisfaction of accrued stock payable	`StockIssued1`	-	USD	1 Quarter
Stock and warrants issued in satisfaction of accrued stock payable	`StockIssued1`	$109.67K	USD	1 Quarter
Stock Warrants Capitalized to CIP	`StockWarrantsCapitalizedtoCIP`	$4.82K	USD	1 Quarter

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