10-Q Filing

TREES CORP (COLORADO) CIK: 1477009 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001398432-17-000157`
Period End Date	20170930
Filing Date	20171107
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	cann-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 67 Income Statement 86 Cash Flow Statement 57

Balance Sheet 67 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`	$252.54K	USD	Point-in-time
Preferred stock, share authorized	`PreferredStockSharesAuthorized`	5.00M	shares	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$283.41K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$182.21K	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
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Note receivable DB Arizona	`DueFromRelatedPartiesCurrent`	$77.20K	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
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$76.49K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$173.91K	USD	Point-in-time
Inventory	`InventoryFinishedGoods`	$7.98K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Inventory	`InventoryFinishedGoods`	$30.44K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	20.88M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	17.13M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$740.29K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	17.13M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	20.88M	shares	Point-in-time
Notes receivable DB Arizona	`DueFromRelatedPartiesNoncurrent`	$221.67K	USD	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`	$25.38K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$139.29K	USD	Point-in-time
Total Assets	`Assets`	$2.81M	USD	Point-in-time
Total Assets	`Assets`	$2.86M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$474.20K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$363.62K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$9.81K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$115.24K	USD	Point-in-time
Deferred rental revenue and customer deposits	`DeferredRevenueAndCreditsCurrent`	$46.16K	USD	Point-in-time
Deferred rental revenue and customer deposits	`DeferredRevenueAndCreditsCurrent`	$75.50K	USD	Point-in-time
Accrued stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$330.00K	USD	Point-in-time
Derivative warrant liability	`DerivativeLiabilitiesCurrent`	$5.24M	USD	Point-in-time
Derivative warrant liability	`DerivativeLiabilitiesCurrent`	$23.12M	USD	Point-in-time
Notes payable (net of discount)	`NotesAndLoansPayableCurrent`	$1.28M	USD	Point-in-time
Infinity Note related party	`LinesOfCreditCurrent`	$1.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$8.88M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$23.54M	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
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`	$8.89M	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 September 30, 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 September 30, 2017 and December 31, 2016	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 20,881,605 and 17,128,778 shares issued and outstanding on September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$17.13K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 20,881,605 and 17,128,778 shares issued and outstanding on September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$20.88K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.89M	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`	$-45.00M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-6.09M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-22.88M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.86M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.81M	USD	Point-in-time

Income Statement 86 line items

Line Item	Tag	Value	Unit	Period
Service	`SalesRevenueServicesGross`	$2.20M	USD	3 Qtrs
Service	`SalesRevenueServicesGross`	$704.49K	USD	1 Quarter
Service	`SalesRevenueServicesGross`	$932.14K	USD	1 Quarter
Service	`SalesRevenueServicesGross`	$1.99M	USD	3 Qtrs
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$25.57K	USD	1 Quarter
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$93.40K	USD	3 Qtrs
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$99.25K	USD	3 Qtrs
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$32.90K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsGross`	$235.77K	USD	3 Qtrs
Product Sales	`SalesRevenueGoodsGross`	$122.45K	USD	3 Qtrs
Product Sales	`SalesRevenueGoodsGross`	$80.33K	USD	1 Quarter
Product Sales	`SalesRevenueGoodsGross`	$14.95K	USD	1 Quarter
Total revenues	`Revenues`	$2.53M	USD	3 Qtrs
Total revenues	`Revenues`	$979.99K	USD	1 Quarter
Total revenues	`Revenues`	$2.20M	USD	3 Qtrs
Total revenues	`Revenues`	$810.38K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$1.55M	USD	3 Qtrs
Cost of service revenues	`CostOfServicesDirectLabor`	$752.15K	USD	1 Quarter
Cost of service revenues	`CostOfServicesDirectLabor`	$1.76M	USD	3 Qtrs
Cost of service revenues	`CostOfServicesDirectLabor`	$564.69K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$32.46K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$68.99K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsSold`	$112.65K	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsSold`	$240.58K	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$409.40K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$657.53K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.15M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.98M	USD	3 Qtrs
Share-based expense	`ShareBasedCompensation`	$839.32K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$1.97M	USD	3 Qtrs
Share-based expense	`ShareBasedCompensation`	$872.22K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$3.00M	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$276.71K	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$95.52K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$126.30K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$454.59K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$39.88K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$88.79K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$97.99K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$292.33K	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$2.45M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$7.51M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$2.11M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$5.35M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-1.30M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.47M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-3.14M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-4.98M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$284.90K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$327.45K	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.13M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$111.84K	USD	1 Quarter
Interest expense	`InterestExpense`	$240.38K	USD	3 Qtrs
Interest expense	`InterestExpense`	$5.28M	USD	1 Quarter
Interest expense	`InterestExpense`	$81.56K	USD	1 Quarter
Interest expense	`InterestExpense`	$5.38M	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.73M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.09M	USD	3 Qtrs
(Gain) loss on derivative warrant liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-6.03M	USD	3 Qtrs
(Gain) loss on derivative warrant liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$2.42M	USD	1 Quarter
(Gain) loss on derivative warrant liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$-6.03M	USD	1 Quarter
(Gain) loss on derivative warrant liability	`DerivativeInstrumentsNotDesignatedAsHedgingInstrumentsGainLossNet`	$10.58M	USD	3 Qtrs
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-13.83M	USD	3 Qtrs
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-13.15M	USD	1 Quarter
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$9.21M	USD	3 Qtrs
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$2.05M	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$4.23M	USD	3 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$586.87K	USD	1 Quarter
NET INCOME (LOSS)	`NetIncomeLoss`	$-16.97M	USD	3 Qtrs
NET INCOME (LOSS)	`NetIncomeLoss`	$-14.45M	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.21	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-0.93	USD	1 Quarter
Basic (in Dollars per share)	`EarningsPerShareBasic`	$-1.11	USD	3 Qtrs
Basic (in Dollars per share)	`EarningsPerShareBasic`	$0.03	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-1.11	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.21	USD	3 Qtrs
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.06	USD	1 Quarter
Diluted (in Dollars per share)	`EarningsPerShareDiluted`	$-0.93	USD	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.50M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.65M	shares	1 Quarter
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.27M	shares	3 Qtrs
Basic (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.88M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.27M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.62M	shares	3 Qtrs
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	29.19M	shares	1 Quarter
Diluted (in Shares)	`WeightedAverageNumberOfDilutedSharesOutstanding`	15.50M	shares	1 Quarter

Cash Flow Statement 57 line items

Line Item	Tag	Value	Unit	Period
Net income (loss)	`NetIncomeLoss`	$4.23M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$586.87K	USD	1 Quarter
Net income (loss)	`NetIncomeLoss`	$-16.97M	USD	3 Qtrs
Net income (loss)	`NetIncomeLoss`	$-14.45M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.13M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$327.45K	USD	3 Qtrs
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-1.73M	USD	1 Quarter
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.09M	USD	3 Qtrs
Initial fair value of derivative warrant liability included as interest expense	`InitialFairValueOfDerivativeWarrantLiabilityIncludedAsInterestExpense`	$5.19M	USD	3 Qtrs
(Gain) loss on derivative warrant liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-10.58M	USD	3 Qtrs
(Gain) loss on derivative warrant liability	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$6.03M	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$292.33K	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$88.79K	USD	3 Qtrs
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$3.00M	USD	3 Qtrs
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$1.97M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-143.14K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-101.19K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-109.38K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-12.32K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-11.63K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-22.46K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$245.36K	USD	3 Qtrs
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$174.95K	USD	3 Qtrs
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-2.12M	USD	3 Qtrs
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-1.06M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$11.62K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.92K	USD	3 Qtrs
Lending on Note receivable related party	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-26.50K	USD	3 Qtrs
Purchase of GC Finance Arizona LLC	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$106.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-11.62K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-171.43K	USD	3 Qtrs
Proceeds from exercise of warrants and stock options	`ProceedsFromStockOptionsExercised`	$1.60M	USD	3 Qtrs
Proceeds from the sale of common stock accrued stock payable	`ProceedsFromIssuanceOfCommonStock`	$175.00K	USD	3 Qtrs
Borrowings under notes payable	`ProceedsFromNotesPayable`	$2.50M	USD	3 Qtrs
Increase in Infinity Note related party	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-497.50K	USD	3 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$917.31K	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.77M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.08M	USD	3 Qtrs
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-521.26K	USD	3 Qtrs
NET (DECREASE) INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$1.01M	USD	3 Qtrs
CASH, BEGINNING OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$252.54K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$1.06M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$252.54K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$1.06M	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$213.81K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$131.76K	USD	3 Qtrs
Portion of warrant derivative liability recorded as additional paid-in capital upon exercise of warrants	`PortionOfWarrantDerivativeLiabilityRecordedAsAdditionalPaidinCapitalUponExerciseOfWarrants`	$7.30M	USD	3 Qtrs
12% Note principal used to exercise 12% Warrants	`ProceedsFromWarrantExercises`	$668.75K	USD	3 Qtrs
Acquisition of MHPS accrued stock payable	`StockIssuedDuringPeriodValueAcquisitions`	$155.00K	USD	3 Qtrs
Issuance of common stock and warrants from accrued stock payable	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.07M	USD	3 Qtrs
Derivative warrant liability recorded as debt discount	`DerivativeWarrantLiabilityRecordedAsDebtDiscount`	$2.45M	USD	3 Qtrs
Warrants issued in connection with debt recorded as debt discount	`WarrantsIssuedInConnectionWithDebtRecordedAsDebtDiscount`	$31.10K	USD	3 Qtrs
10% Notes and 14% Mortgage Note Payable converted to 12% Notes	`ProceedsFromConvertibleDebt`	$550.00K	USD	3 Qtrs

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