10-K Filing

TREES CORP (COLORADO) CIK: 1477009 FY 2015

Filing Information

Form Type	10-K
Accession Number	`0001398432-16-000545`
Period End Date	20151231
Filing Date	20160325
Fiscal Year	2015
Fiscal Period	FY
XBRL Instance	cann-20151231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 75 Income Statement 38 Cash Flow Statement 74 Stockholders Equity 24

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
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`	$165.54K	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.71K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$18.32K	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`	$124.55K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$46.73K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
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
Inventory	`InventoryNet`	$15.52K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$245.52K	USD	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 issued	`CommonStockSharesIssued`	14.92M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.71M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.92M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	12.50M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	-	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.52M	USD	Point-in-time
Goodwill	`Goodwill`	$187.00K	USD	Point-in-time
Goodwill	`Goodwill`	-	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	$83.06K	USD	Point-in-time
Deferred financing costs	`DeferredFinanceCostsNoncurrentNet`	-	USD	Point-in-time
Total Assets	`Assets`	$2.07M	USD	Point-in-time
Total Assets	`Assets`	$3.68M	USD	Point-in-time
Accounts payable and accrued expenses	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$293.53K	USD	Point-in-time
Accounts payable and accrued expenses	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$83.19K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$84.72K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$16.47K	USD	Point-in-time
Line of credit - related party	`LinesOfCreditCurrent`	$800.00K	USD	Point-in-time
Line of credit - related party	`LinesOfCreditCurrent`	-	USD	Point-in-time
Notes payable (net of discount), current portion	`NotesAndLoansPayableCurrent`	$6.34K	USD	Point-in-time
Notes payable (net of discount), current portion	`NotesAndLoansPayableCurrent`	$986.48K	USD	Point-in-time
Deferred rental revenue	`DeferredRentalRevenue`	$33.15K	USD	Point-in-time
Deferred rental revenue	`DeferredRentalRevenue`	-	USD	Point-in-time
Accrued stock payable, current portion	`AccruedStockPayableCurrentPortion`	$385.92K	USD	Point-in-time
Accrued stock payable, current portion	`AccruedStockPayableCurrentPortion`	$1.53M	USD	Point-in-time
Warrant derivative liability	`DerivativeLiabilitiesCurrent`	-	USD	Point-in-time
Warrant derivative liability	`DerivativeLiabilitiesCurrent`	$3.89M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.39M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.73M	USD	Point-in-time
Notes payable (net of debt discount), less current portion	`LongTermNotesPayable`	$151.40K	USD	Point-in-time
Notes payable (net of debt discount), less current portion	`LongTermNotesPayable`	$1.06M	USD	Point-in-time
Accrued stock payable, less current portion	`DeferredCompensationSharebasedArrangementsLiabilityClassifiedNoncurrent`	$138.12K	USD	Point-in-time
Accrued stock payable, less current portion	`DeferredCompensationSharebasedArrangementsLiabilityClassifiedNoncurrent`	-	USD	Point-in-time
Tenant deposits	`SecurityDepositLiability`	$8.85K	USD	Point-in-time
Tenant deposits	`SecurityDepositLiability`	$9.20K	USD	Point-in-time
Total liabilities	`Liabilities`	$5.59M	USD	Point-in-time
Total liabilities	`Liabilities`	$3.89M	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 December 31, 2015 and 2014	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 share authorized; no shares issued and outstanding at December 31, 2015 and 2014	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 14,915,421 shares and 12,499,933 shares issued and outstanding on December 31, 2015 and 2014, respectively	`CommonStockValue`	$12.50K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 14,915,421 shares and 12,499,933 shares issued and outstanding on December 31, 2015 and 2014, respectively	`CommonStockValue`	$14.91K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.20M	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`	$-16.43M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-3.52M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$222.66K	USD	Point-in-time
Total Liabilities & Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.07M	USD	Point-in-time
Total Liabilities & Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$3.68M	USD	Point-in-time

Income Statement 38 line items

Line Item	Tag	Value	Unit	Period
Services	`SalesRevenueServicesGross`	$1.60M	USD	Annual
Services	`SalesRevenueServicesGross`	$40.00K	USD	Annual
Tenant	`PaymentsForProceedsFromTenantAllowance`	$100.78K	USD	Annual
Tenant	`PaymentsForProceedsFromTenantAllowance`	$115.06K	USD	Annual
Product sales	`SalesRevenueGoodsGross`	$57.56K	USD	Annual
Product sales	`SalesRevenueGoodsGross`	$85.15K	USD	Annual
Total revenues	`Revenues`	$1.76M	USD	Annual
Total revenues	`Revenues`	$240.21K	USD	Annual
Cost of service revenues	`CostOfServicesDirectLabor`	$1.31M	USD	Annual
Cost of service revenues	`CostOfServicesDirectLabor`	-	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$115.21K	USD	Annual
Cost of Goods Sold	`CostOfGoodsSold`	$68.54K	USD	Annual
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$787.33K	USD	Annual
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$1.43M	USD	Annual
Share-based Compensation	`ShareBasedCompensation`	$1.30M	USD	Annual
Share-based Compensation	`ShareBasedCompensation`	$5.42M	USD	Annual
Professional Fees	`ProfessionalFees`	$448.50K	USD	Annual
Professional Fees	`ProfessionalFees`	$555.44K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$282.83K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$66.26K	USD	Annual
Total Costs and Expenses	`CostsAndExpenses`	$2.78M	USD	Annual
Total Costs and Expenses	`CostsAndExpenses`	$9.01M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-2.54M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-7.24M	USD	Annual
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$-755.73K	USD	Annual
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$-1.45M	USD	Annual
Interest expense	`InterestExpense`	$-300.67K	USD	Annual
Interest expense	`InterestExpense`	$-244.77K	USD	Annual
Net gain (loss) on derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-210.63K	USD	Annual
Net gain (loss) on derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$3.39M	USD	Annual
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$4.39M	USD	Annual
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$1.54M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-8.79M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-6.93M	USD	Annual
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.63	USD	Annual
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.51	USD	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.02M	shares	Annual
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.46M	shares	Annual

Cash Flow Statement 74 line items

Line Item	Tag	Value	Unit	Period
Line of credit	`LineOfCreditFacilityInterestRateDuringPeriod`	0.10	pure	Annual
Line of credit	`LineOfCreditFacilityInterestRateDuringPeriod`	0.10	pure	Annual
Net Loss	`NetIncomeLoss`	$-8.79M	USD	Annual
Net Loss	`NetIncomeLoss`	$-6.93M	USD	Annual
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$755.73K	USD	Annual
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$1.37M	USD	Annual
Amortization of deferred financing costs	`DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts`	$83.06K	USD	Annual
Amortization of deferred financing costs	`DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts`	$31.94K	USD	Annual
(Gain) loss on derivative liability, net	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-210.63K	USD	Annual
(Gain) loss on derivative liability, net	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$3.39M	USD	Annual
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$282.83K	USD	Annual
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$66.26K	USD	Annual
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$5.42M	USD	Annual
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$1.30M	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-18.32K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-106.23K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-24.33K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-20.16K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-70.34K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$67.07K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInInterestPayableNet`	$300.97K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInInterestPayableNet`	$67.72K	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-1.60M	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-1.43M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$56.21K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$573.05K	USD	Annual
Chiefton acquisition - cash paid for inventory	`ChieftonAcquisitionCashPaidForInventory`	$-12.25K	USD	Annual
Purchase of intangible assets	`PaymentsForProceedsFromProductiveAssets`	$38.20K	USD	Annual
Purchase of intangible assets	`PaymentsForProceedsFromProductiveAssets`	-	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-56.21K	USD	Annual
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-611.25K	USD	Annual
Proceeds from issuance of notes payable, net of cash expenses	`ProceedsFromNotesPayable`	$350.00K	USD	Annual
Proceeds from issuance of notes payable, net of cash expenses	`ProceedsFromNotesPayable`	$1.39M	USD	Annual
Increase in line of credit -- related party	`ProceedsFromLinesOfCredit`	-	USD	Annual
Increase in line of credit -- related party	`ProceedsFromLinesOfCredit`	$1.10M	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$5.36K	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$6.34K	USD	Annual
Proceeds from sale of warrants, net	`ProceedsFromWarrantExercises`	-	USD	Annual
Proceeds from sale of warrants, net	`ProceedsFromWarrantExercises`	$400.00K	USD	Annual
Proceeds from exercise of warrants for shares of common stock, net	`ProceedsFromIssuanceOfWarrants`	-	USD	Annual
Proceeds from exercise of warrants for shares of common stock, net	`ProceedsFromIssuanceOfWarrants`	$100.00K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	$15.00K	USD	Annual
Deferred financing costs	`PaymentsOfFinancingCosts`	-	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.54M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.77M	USD	Annual
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-106.83K	USD	Annual
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-261.90K	USD	Annual
CASH, BEGINNING OF PERIOD	`Cash`	$427.44K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$165.54K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$427.44K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$165.54K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$231.30K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$225.50K	USD	Annual
Acquisition of IPG with common stock payable and warrants	`AcquisitionOfIpgWithCommonStockPayableNetOfCashReceived`	$1.89M	USD	Annual
Acquisition of IPG with common stock payable and warrants	`AcquisitionOfIpgWithCommonStockPayableNetOfCashReceived`	-	USD	Annual
Acquisition of Chiefton with common stock payable	`AcquisitionOfChieftonWithCommonStockPayable`	-	USD	Annual
Acquisition of Chiefton with common stock payable	`AcquisitionOfChieftonWithCommonStockPayable`	$69.40K	USD	Annual
Purchase of property with note payable	`PurchaseOfPropertyWithNotePayable`	$600.00K	USD	Annual
Purchase of property with note payable	`PurchaseOfPropertyWithNotePayable`	-	USD	Annual
Convertible notes settled in common stock	`ConvertibleNotesPayableSettledInCommonStock`	$485.00K	USD	Annual
Convertible notes settled in common stock	`ConvertibleNotesPayableSettledInCommonStock`	$1.65M	USD	Annual
Line of credit - related party converted into 10% Note	`LineOfCreditRelatedPartyConvertedInto10Note`	$309.00K	USD	Annual
Warrants issued in connection with debt recorded as debt discount	`WarrantsIssuedInConnectionWithDebtRecordedAsDebtDiscount`	$92.60K	USD	Annual
Warrants issued in connection with debt recorded as debt discount	`WarrantsIssuedInConnectionWithDebtRecordedAsDebtDiscount`	$298.53K	USD	Annual
Non-cash financing costs	`AmortizationOfFinancingCosts`	-	USD	Annual
Non-cash financing costs	`AmortizationOfFinancingCosts`	$100.00K	USD	Annual
Issuance of common stock upon cashless conversion of warrants by Full Circle	`IssuanceOfCommonStockUponCashlessConversionOfWarrantsByFullCircle`	-	USD	Annual
Issuance of common stock upon cashless conversion of warrants by Full Circle	`IssuanceOfCommonStockUponCashlessConversionOfWarrantsByFullCircle`	$3.68M	USD	Annual
Issuance of common stock from accrued stock payable	`IssuanceOfCommonStockFromAccruedStockPayable`	$988.49K	USD	Annual
Issuance of common stock from accrued stock payable	`IssuanceOfCommonStockFromAccruedStockPayable`	-	USD	Annual
Accrued stock payable and warrants for architectural services	`AccruedStockPayableAndWarrantsForArchitecturalServices`	$109.67K	USD	Annual
Accrued stock payable and warrants for architectural services	`AccruedStockPayableAndWarrantsForArchitecturalServices`	-	USD	Annual

Stockholders Equity 24 line items

Line Item	Tag	Value	Unit	Period
Interest on Note payable	`InterestOnNotePayable`	0.10	pure	Annual
Beginning Balance, Amount	`StockholdersEquity`	$-3.52M	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Beginning Balance, Amount	`StockholdersEquity`	$222.66K	USD	Point-in-time
Re-acquired common stock, Shares	`StockIssuedDuringPeriodSharesAcquisitions`	1.75M	shares	Point-in-time
Re-acquired common stock, Amount	`StockIssuedDuringPeriodValueAcquisitions`	-	USD	Annual
Discount on convertible notes issued	`NotesIssued1`	$1.81M	USD	Annual
Issuance of common stock under Feinsod Agreement, Amount	`StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan`	$3.63M	USD	Annual
Issuance of common stock under Feinsod Agreement, Amount	`StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan`	$884.00K	USD	Annual
Conversion of Notes payable and interest, Amount	`StockIssuedDuringPeriodValueConversionOfUnits`	$488.67K	USD	Annual
Conversion of Notes payable and interest, Amount	`StockIssuedDuringPeriodValueConversionOfUnits`	$1.65M	USD	Annual
Retraction of common stock in settlement of lawsuit with former shareholder, Amount	`StockIssuedDuringPeriodValueOther`	-	USD	Annual
Full Circle non-cash exercise of warrants, Amount	`FullCircleNoncashExerciseOfWarrantsAmount`	$3.68M	USD	Annual
Full Circle exercise of warrants for cash, Amount	`StockIssuedDuringPeriodValueStockOptionsExercised`	$100.00K	USD	Annual
Stock issued for architectural services, Amount	`StockIssuedDuringPeriodValueNewIssues`	$114.69K	USD	Annual
Warrants issued with 10% Notes Payable	`WarrantsIssuedWithNotesPayable`	$298.53K	USD	Annual
Common stock and warrants issued for IPG acquisition, Amount	`StockIssuedDuringPeriodValueIssuedForServices`	$524.04K	USD	Annual
Warrants issued for services	`ShareBasedGoodsAndNonemployeeServicesTransactionStockholdersEquity`	$77.92K	USD	Annual
Employee stock options	`StockOptionPlanExpense`	$1.50M	USD	Annual
Net loss	`ProfitLoss`	$-6.93M	USD	Annual
Net loss	`ProfitLoss`	$-8.79M	USD	Annual
Ending Balance, Amount	`StockholdersEquity`	$-3.52M	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Ending Balance, Amount	`StockholdersEquity`	$222.66K	USD	Point-in-time

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