10-Q Filing

TREES CORP (COLORADO) CIK: 1477009 Q1 2016

Filing Information

Form Type	10-Q
Accession Number	`0001398432-16-000639`
Period End Date	20160331
Filing Date	20160509
Fiscal Year	2016
Fiscal Period	Q1
XBRL Instance	cann-20160331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 38 Cash Flow Statement 56

Balance Sheet 68 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`	$14.63K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.71K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$149.38K	USD	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`	$16.59K	USD	Point-in-time
Common stock, par value	`CommonStockParOrStatedValuePerShare`	$0.00	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
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory, net	`InventoryNet`	$15.52K	USD	Point-in-time
Inventory, net	`InventoryNet`	$9.36K	USD	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.92M	shares	Point-in-time
Common stock, shares issued	`CommonStockSharesIssued`	14.92M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$245.52K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$189.95K	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.73M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.92M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.72M	USD	Point-in-time
Common stock, shares outstanding	`CommonStockSharesOutstanding`	14.92M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.52M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.44M	USD	Point-in-time
Goodwill	`Goodwill`	$187.00K	USD	Point-in-time
Goodwill	`Goodwill`	$187.00K	USD	Point-in-time
Total Assets	`Assets`	$3.53M	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`	$371.50K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$84.72K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$104.11K	USD	Point-in-time
Line of credit - related party	`LinesOfCreditCurrent`	$1.01M	USD	Point-in-time
Line of credit - related party	`LinesOfCreditCurrent`	$800.00K	USD	Point-in-time
Notes payable (net of discount), current portion	`NotesAndLoansPayableCurrent`	$1.12M	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`	$32.02K	USD	Point-in-time
Accrued stock payable	`AccruedStockPayableCurrentPortion`	$1.60M	USD	Point-in-time
Accrued stock payable	`AccruedStockPayableCurrentPortion`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.24M	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`	$149.58K	USD	Point-in-time
Tenant deposits	`SecurityDepositLiability`	$9.20K	USD	Point-in-time
Tenant deposits	`SecurityDepositLiability`	$8.85K	USD	Point-in-time
Total liabilities	`Liabilities`	$4.39M	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 March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 share authorized; no shares issued and outstanding at March 31, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 14,965,421 shares and 14,915,421 shares issued and outstanding on March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$14.96K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 14,965,421 shares and 14,915,421 shares issued and outstanding on March 31, 2016 and December 31, 2015, respectively	`CommonStockValue`	$14.91K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.74M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.20M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-17.62M	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-861.15K	USD	Point-in-time
Total Stockholders' Equity (Deficit)	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Total Liabilities & Stockholders' Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$3.53M	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`	$17.38K	USD	1 Quarter
Services	`SalesRevenueServicesGross`	$636.22K	USD	1 Quarter
Tenant	`PaymentsForProceedsFromTenantAllowance`	$36.37K	USD	1 Quarter
Tenant	`PaymentsForProceedsFromTenantAllowance`	$26.68K	USD	1 Quarter
Product sales	`SalesRevenueGoodsGross`	$12.80K	USD	1 Quarter
Product sales	`SalesRevenueGoodsGross`	$19.52K	USD	1 Quarter
Total revenues	`Revenues`	$56.86K	USD	1 Quarter
Total revenues	`Revenues`	$692.11K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$13.04K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$452.58K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$28.27K	USD	1 Quarter
Cost of Goods Sold	`CostOfGoodsSold`	$1.10K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$416.36K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$185.40K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$248.62K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$600.47K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$105.73K	USD	1 Quarter
Professional Fees	`ProfessionalFees`	$94.11K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$9.01K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$97.27K	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$551.28K	USD	1 Quarter
Total Costs and Expenses	`CostsAndExpenses`	$1.70M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.01M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-494.42K	USD	1 Quarter
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$-242.63K	USD	1 Quarter
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$-135.84K	USD	1 Quarter
Interest expense	`InterestExpense`	$-43.83K	USD	1 Quarter
Interest expense	`InterestExpense`	$-69.21K	USD	1 Quarter
Net gain (loss) on derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	-	USD	1 Quarter
Net gain (loss) on derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$22.23K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$334.07K	USD	1 Quarter
Total other income (expense), net	`OtherNonoperatingIncomeExpense`	$179.67K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-828.49K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.19M	USD	1 Quarter
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.06	USD	1 Quarter
Net loss per share	`EarningsPerShareBasicAndDiluted`	$-0.08	USD	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.93M	shares	1 Quarter
Weighted average number of common shares outstanding	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.10M	shares	1 Quarter

Cash Flow Statement 56 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-828.49K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-1.19M	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$233.05K	USD	1 Quarter
Amortization of Debt Discount	`AmortizationOfDebtDiscountPremium`	$135.84K	USD	1 Quarter
Amortization of deferred financing costs	`DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts`	-	USD	1 Quarter
Amortization of deferred financing costs	`DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts`	$9.58K	USD	1 Quarter
(Gain) loss on derivative liability, net	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	-	USD	1 Quarter
(Gain) loss on derivative liability, net	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$22.23K	USD	1 Quarter
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$9.01K	USD	1 Quarter
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$97.27K	USD	1 Quarter
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$600.47K	USD	1 Quarter
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$248.62K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-24.82K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$938.00	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$30.14K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-26.80K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$6.16K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-11.24K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInInterestPayableNet`	$53.04K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInInterestPayableNet`	$95.88K	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-247.30K	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-290.06K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$13.25K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$2.62K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.62K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-13.25K	USD	1 Quarter
Increase in line of credit -- related party	`ProceedsFromLinesOfCredit`	$239.00K	USD	1 Quarter
Increase in line of credit -- related party	`ProceedsFromLinesOfCredit`	$207.50K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$1.67K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$1.53K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$205.83K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$237.47K	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-44.09K	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-65.85K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`Cash`	$14.63K	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, BEGINNING OF PERIOD	`Cash`	$99.69K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$14.63K	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, END OF PERIOD	`Cash`	$99.69K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$24.43K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$46.94K	USD	1 Quarter
Issuance of common stock and warrants from accrued stock payable	`IssuanceOfCommonStockAndWarrantsFromAccruedStockPayable`	$25.00K	USD	1 Quarter
Issuance of common stock and warrants from accrued stock payable	`IssuanceOfCommonStockAndWarrantsFromAccruedStockPayable`	$109.67K	USD	1 Quarter
Acquisition of IPG with common stock payable and warrants	`AcquisitionOfIpgWithCommonStockPayableNetOfCashReceived`	$1.89M	USD	1 Quarter
Acquisition of IPG with common stock payable and warrants	`AcquisitionOfIpgWithCommonStockPayableNetOfCashReceived`	-	USD	1 Quarter
Common stock and warrants capitalized as construction in progress	`CommonStockAndWarrantsCapitalizedAsConstructionInProgress`	$4.82K	USD	1 Quarter
Common stock and warrants capitalized as construction in progress	`CommonStockAndWarrantsCapitalizedAsConstructionInProgress`	-	USD	1 Quarter
Convertible notes settled in common stock	`ConvertibleNotesPayableSettledInCommonStock`	-	USD	1 Quarter
Convertible notes settled in common stock	`ConvertibleNotesPayableSettledInCommonStock`	$290.00K	USD	1 Quarter
Interest on convertible notes payable settled in common stock	`InterestOnConvertibleNotesPayableSettledInCommonStock`	$1.06K	USD	1 Quarter
Interest on convertible notes payable settled in common stock	`InterestOnConvertibleNotesPayableSettledInCommonStock`	-	USD	1 Quarter
Issuance of common stock upon cashless conversion of warrants by Full Circle	`IssuanceOfCommonStockUponCashlessConversionOfWarrantsByFullCircle`	$3.31M	USD	1 Quarter
Issuance of common stock upon cashless conversion of warrants by Full Circle	`IssuanceOfCommonStockUponCashlessConversionOfWarrantsByFullCircle`	-	USD	1 Quarter

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