10-Q Filing

TREES CORP (COLORADO) CIK: 1477009 Q1 2017

Filing Information

Form Type	10-Q
Accession Number	`0001398432-17-000079`
Period End Date	20170331
Filing Date	20170512
Fiscal Year	2017
Fiscal Period	Q1
XBRL Instance	cann-20170331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 66 Income Statement 41 Cash Flow Statement 44

Balance Sheet 66 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`	$773.79K	USD	Point-in-time
Preferred stock, share authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$407.64K	USD	Point-in-time
Preferred stock, share authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$182.21K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$239.42K	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
Note receivable related party	`DueFromRelatedPartiesCurrent`	$77.20K	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
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$76.49K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$109.31K	USD	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
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory	`PublicUtilitiesInventory`	$7.98K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory	`PublicUtilitiesInventory`	$9.72K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	17.13M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	19.42M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$766.09K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$1.12M	USD	Point-in-time
Note receivable related party	`DueFromRelatedPartiesNoncurrent`	$107.88K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	19.42M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	17.13M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.71M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.71M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$16.83K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.38K	USD	Point-in-time
Total Assets	`Assets`	$2.60M	USD	Point-in-time
Total Assets	`Assets`	$2.86M	USD	Point-in-time
Accounts payable and accrued expenses	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$281.84K	USD	Point-in-time
Accounts payable and accrued expenses	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$363.62K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$9.81K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$17.94K	USD	Point-in-time
Deferred rental revenue and customer deposits	`DeferredRevenueAndCreditsCurrent`	$46.16K	USD	Point-in-time
Deferred rental revenue and customer deposits	`DeferredRevenueAndCreditsCurrent`	$62.77K	USD	Point-in-time
Derivative warrant liability	`DerivativeLiabilitiesCurrent`	$12.16M	USD	Point-in-time
Derivative warrant liability	`DerivativeLiabilitiesCurrent`	$23.12M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$12.52M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.54M	USD	Point-in-time
Notes payable (net of discount)	`LongTermNotesAndLoans`	$841.53K	USD	Point-in-time
Notes payable (net of discount)	`LongTermNotesAndLoans`	$815.25K	USD	Point-in-time
Infinity Note related party	`LongTermLineOfCredit`	$1.37M	USD	Point-in-time
Infinity Note related party	`LongTermLineOfCredit`	$1.37M	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`	$25.73M	USD	Point-in-time
Total Liabilities	`Liabilities`	$14.74M	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, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 share authorized; no shares issued and outstanding at March 31, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 19,417,064 shares and 17,128,778 shares issued and outstanding on March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$19.42K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 19,417,064 shares and 17,128,778 shares issued and outstanding on March 31, 2017 and December 31, 2016, respectively	`CommonStockValue`	$17.13K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$34.89M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.33M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-49.23M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.06M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-22.88M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-12.14M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.86M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.60M	USD	Point-in-time

Income Statement 41 line items

Line Item	Tag	Value	Unit	Period
Service	`SalesRevenueServicesGross`	$636.22K	USD	1 Quarter
Service	`SalesRevenueServicesGross`	$663.33K	USD	1 Quarter
Tenant	`PaymentsForProceedsFromTenantAllowance`	$32.48K	USD	1 Quarter
Tenant	`PaymentsForProceedsFromTenantAllowance`	$36.37K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsGross`	$23.29K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsGross`	$19.52K	USD	1 Quarter
Total revenues	`Revenues`	$692.11K	USD	1 Quarter
Total revenues	`Revenues`	$719.11K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$452.58K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$457.70K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$18.61K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$12.49K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$432.14K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$723.91K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$1.43M	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$600.47K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$105.73K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$246.61K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$97.27K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$24.57K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.91M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$1.70M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-2.19M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.01M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$135.84K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$695.03K	USD	1 Quarter
Interest expense	`InterestExpense`	$78.03K	USD	1 Quarter
Interest expense	`InterestExpense`	$43.83K	USD	1 Quarter
Gain on derivative warrant liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$5.13M	USD	1 Quarter
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$4.36M	USD	1 Quarter
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-179.67K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$2.17M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-1.19M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.08	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.11	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.10	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	14.93M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.90M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.83M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	14.93M	shares	1 Quarter

Cash Flow Statement 44 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$2.17M	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-1.19M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$695.03K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$135.84K	USD	1 Quarter
Gain on derivative warrant liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-5.13M	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$97.27K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$24.57K	USD	1 Quarter
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$1.43M	USD	1 Quarter
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$600.47K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-24.82K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-57.21K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$30.14K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-36.99K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$6.16K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.74K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-57.02K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$95.88K	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-247.30K	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-958.71K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.62K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.38K	USD	1 Quarter
Lending on Note receivable related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-26.50K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-38.88K	USD	1 Quarter
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-2.62K	USD	1 Quarter
Proceeds from exercise of warrants and stock options	`ProceedsFromStockOptionsExercised`	$631.43K	USD	1 Quarter
Increase in Infinity Note related party	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-207.50K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$1.67K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$205.83K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$631.43K	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-366.16K	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-44.09K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`Cash`	$14.63K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$407.64K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$14.63K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$407.64K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$69.50K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$24.43K	USD	1 Quarter
Portion of warrant derivative liability recorded as additional paid-in capital upon exercise of warrants	`PortionOfWarrantDerivativeLiabilityRecordedAsAdditionalPaidinCapitalUponExerciseOfWarrants`	$5.83M	USD	1 Quarter
12% Note principal used to exercise 12% Warrants	`ProceedsFromWarrantExercises`	$668.75K	USD	1 Quarter
Acquisition of Chiefton with common stock payable	`ProceedsFromIssuanceOfCommonStock`	$25.00K	USD	1 Quarter

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