10-Q Filing

TREES CORP (COLORADO) CIK: 1477009 Q2 2016

Filing Information

Form Type	10-Q
Accession Number	`0001398432-16-000702`
Period End Date	20160630
Filing Date	20160810
Fiscal Year	2016
Fiscal Period	Q2
XBRL Instance	cann-20160630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 68 Income Statement 76 Cash Flow Statement 54

Balance Sheet 68 line items

Line Item	Tag	Value	Unit	Period
Preferred stock, value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Preferred stock, value (in Dollars per share)	`PreferredStockParOrStatedValuePerShare`	-	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$58.71K	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`	$54.40K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$160.81K	USD	Point-in-time
Accounts receivable	`AccountsReceivableNetCurrent`	$124.55K	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
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$46.73K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$20.01K	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
Inventory, net	`InventoryNet`	$29.21K	USD	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory, net	`InventoryNet`	$15.52K	USD	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Total current assets	`AssetsCurrent`	$264.43K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$245.52K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	15.50M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.73M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.71M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	14.92M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.52M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	15.50M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$1.35M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	14.92M	shares	Point-in-time
Goodwill	`Goodwill`	$187.00K	USD	Point-in-time
Goodwill	`Goodwill`	$187.00K	USD	Point-in-time
Total Assets	`Assets`	$3.68M	USD	Point-in-time
Total Assets	`Assets`	$3.51M	USD	Point-in-time
Accounts payable and accrued expenses	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$293.53K	USD	Point-in-time
Accounts payable and accrued expenses	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$496.97K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$84.72K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$126.67K	USD	Point-in-time
Line of credit related party	`LinesOfCreditCurrent`	$800.00K	USD	Point-in-time
Line of credit related party	`LinesOfCreditCurrent`	$1.24M	USD	Point-in-time
Notes payable (net of discount), current portion	`NotesAndLoansPayableCurrent`	$986.48K	USD	Point-in-time
Notes payable (net of discount), current portion	`NotesAndLoansPayableCurrent`	$1.20M	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`	$635.50K	USD	Point-in-time
Accrued stock payable	`AccruedStockPayableCurrentPortion`	$1.53M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.73M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$3.73M	USD	Point-in-time
Notes payable (net of debt discount), less current portion	`DebtCurrent`	$147.73K	USD	Point-in-time
Notes payable (net of debt discount), less current portion	`DebtCurrent`	$151.40K	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`	$3.89M	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 June 30, 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 June 30, 2016 and December 31, 2015	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 15,495,421 shares and 14,915,421 shares issued and outstanding on June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$15.49K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 15,495,421 shares and 14,915,421 shares issued and outstanding on June 30, 2016 and December 31, 2015, respectively	`CommonStockValue`	$14.91K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$16.20M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$18.56M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-16.43M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-18.95M	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Total Stockholders Deficit	`StockholdersEquity`	$-375.99K	USD	Point-in-time
Total Liabilities & Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$3.68M	USD	Point-in-time
Total Liabilities & Stockholders Deficit	`LiabilitiesAndStockholdersEquity`	$3.51M	USD	Point-in-time

Income Statement 76 line items

Line Item	Tag	Value	Unit	Period
Service	`SalesRevenueServicesGross`	$394.10K	USD	2 Qtrs
Service	`SalesRevenueServicesGross`	$1.28M	USD	2 Qtrs
Service	`SalesRevenueServicesGross`	$376.72K	USD	1 Quarter
Service	`SalesRevenueServicesGross`	$647.88K	USD	1 Quarter
Tenant	`PaymentsForProceedsFromTenantAllowance`	$67.83K	USD	2 Qtrs
Tenant	`PaymentsForProceedsFromTenantAllowance`	$31.46K	USD	1 Quarter
Tenant	`PaymentsForProceedsFromTenantAllowance`	$37.91K	USD	1 Quarter
Tenant	`PaymentsForProceedsFromTenantAllowance`	$64.59K	USD	2 Qtrs
Product Sales	`SalesRevenueGoodsGross`	$42.13K	USD	2 Qtrs
Product Sales	`SalesRevenueGoodsGross`	$22.60K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsGross`	$12.57K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsGross`	$25.37K	USD	2 Qtrs
Total revenues	`Revenues`	$427.20K	USD	1 Quarter
Total revenues	`Revenues`	$484.06K	USD	2 Qtrs
Total revenues	`Revenues`	$701.94K	USD	1 Quarter
Total revenues	`Revenues`	$1.39M	USD	2 Qtrs
Cost of service revenues	`CostOfServicesDirectLabor`	$907.90K	USD	2 Qtrs
Cost of service revenues	`CostOfServicesDirectLabor`	$313.05K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$455.31K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$326.09K	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$39.64K	USD	2 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$15.39K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$38.54K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$43.66K	USD	2 Qtrs
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$366.28K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$395.15K	USD	1 Quarter
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$811.51K	USD	2 Qtrs
Selling, general and administrative	`GeneralAndAdministrativeExpense`	$551.68K	USD	2 Qtrs
Share-based expense	`ShareBasedCompensation`	$3.86M	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$4.10M	USD	2 Qtrs
Share-based expense	`ShareBasedCompensation`	$501.50K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$1.10M	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$181.19K	USD	2 Qtrs
Professional fees	`ProfessionalFees`	$75.46K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$156.39K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$250.50K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$66.87K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$194.34K	USD	2 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$97.08K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$75.88K	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$5.35M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.24M	USD	2 Qtrs
Total costs and expenses	`CostsAndExpenses`	$4.80M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.54M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-4.37M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-4.86M	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-1.85M	USD	2 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-837.95K	USD	1 Quarter
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$376.82K	USD	2 Qtrs
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$215.62K	USD	2 Qtrs
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$134.19K	USD	1 Quarter
Amortization of debt discount and deferred financing costs	`AmortizationOfFinancingCostsAndDiscounts`	$79.78K	USD	1 Quarter
Interest expense	`InterestExpense`	$104.58K	USD	2 Qtrs
Interest expense	`InterestExpense`	$78.50K	USD	1 Quarter
Interest expense	`InterestExpense`	$60.74K	USD	1 Quarter
Interest expense	`InterestExpense`	$147.71K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-358.00K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-358.00K	USD	1 Quarter
Net (gain) loss on derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$232.87K	USD	1 Quarter
Net (gain) loss on derivative liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$210.63K	USD	2 Qtrs
Total other expense (income), net	`OtherNonoperatingIncomeExpense`	$-678.19K	USD	2 Qtrs
Total other expense (income), net	`OtherNonoperatingIncomeExpense`	$20.17K	USD	1 Quarter
Total other expense (income), net	`OtherNonoperatingIncomeExpense`	$-313.90K	USD	2 Qtrs
Total other expense (income), net	`OtherNonoperatingIncomeExpense`	$-498.53K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.18M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-2.52M	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-1.34M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.35M	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.09	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.17	USD	2 Qtrs
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.38	USD	2 Qtrs
Net loss per share (in Dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.31	USD	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.16M	shares	2 Qtrs
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	13.58M	shares	2 Qtrs
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	15.38M	shares	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	14.05M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-5.18M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-2.52M	USD	2 Qtrs
Net loss	`NetIncomeLoss`	$-1.34M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.35M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$357.66K	USD	2 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$215.62K	USD	2 Qtrs
Amortization of deferred financing costs	`DebtorReorganizationItemsWriteOffOfDeferredFinancingCostsAndDebtDiscounts`	$19.17K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-358.00K	USD	2 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-358.00K	USD	1 Quarter
(Gain) loss on derivative liability, net	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-210.63K	USD	2 Qtrs
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$75.88K	USD	2 Qtrs
Depreciation and amortization expense	`OtherDepreciationAndAmortization`	$194.34K	USD	2 Qtrs
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$1.10M	USD	2 Qtrs
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$4.10M	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-36.26K	USD	2 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-54.87K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-82.22K	USD	2 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$26.72K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$15.53K	USD	2 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-13.70K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInInterestPayableNet`	$243.90K	USD	2 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInInterestPayableNet`	$148.00K	USD	2 Qtrs
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-434.10K	USD	2 Qtrs
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-805.12K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$4.34K	USD	2 Qtrs
Purchase of property and equipment	`PaymentsToAcquireProductiveAssets`	$42.56K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-42.56K	USD	2 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-4.34K	USD	2 Qtrs
Increase in line of credit -- related party	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-437.50K	USD	2 Qtrs
Increase in line of credit -- related party	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-289.00K	USD	2 Qtrs
Borrowings under notes payable	`ProceedsFromNotesPayable`	$325.00K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$3.10K	USD	2 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$3.38K	USD	2 Qtrs
Proceeds from warrant exercises	`ProceedsFromWarrantExercises`	$87.62K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$434.12K	USD	2 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$698.51K	USD	2 Qtrs
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-4.31K	USD	2 Qtrs
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-149.16K	USD	2 Qtrs
CASH, BEGINNING OF PERIOD	`Cash`	$165.54K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$16.37K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$54.40K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$165.54K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$16.37K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$54.40K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$95.54K	USD	2 Qtrs
Cash paid for interest	`InterestPaidNet`	$62.63K	USD	2 Qtrs
Issuance of common stock and warrants from accrued stock payable	`IssuanceOfCommonStockAndWarrantsFromAccruedStockPayable`	$114.49K	USD	2 Qtrs
Issuance of common stock and warrants from accrued stock payable	`IssuanceOfCommonStockAndWarrantsFromAccruedStockPayable`	$1.07M	USD	2 Qtrs
Acquisition of IPG with common stock payable and warrants	`AcquisitionOfIpgWithCommonStockPayableNetOfCashReceived`	$1.89M	USD	2 Qtrs
Convertible notes payable settled in common stock	`ConvertibleNotesPayableSettledInCommonStock`	$290.00K	USD	2 Qtrs
Interest on convertible notes payable settled in common stock	`InterestOnConvertibleNotesPayableSettledInCommonStock`	$1.06K	USD	2 Qtrs
Issuance of common stock upon cashless conversion of warrants by Full Circle	`IssuanceOfCommonStockUponCashlessConversionOfWarrantsByFullCircle`	$3.68M	USD	2 Qtrs

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