10-K Filing

TREES CORP (COLORADO) CIK: 1477009 FY 2017

Filing Information

Form Type	10-K
Accession Number	`0001398432-18-000038`
Period End Date	20171231
Filing Date	20180312
Fiscal Year	2017
Fiscal Period	FY
XBRL Instance	cann-20171231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 64 Income Statement 40 Cash Flow Statement 54 Stockholders Equity 18

Balance Sheet 64 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
Preferred stock, share authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Preferred stock, share authorized	`PreferredStockSharesAuthorized`	5.00M	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$773.79K	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$446.22K	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
Notes receivable DB Arizona	`DueFromRelatedPartiesNoncurrent`	$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
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$672.64K	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
Inventory	`InventoryFinishedGoods`	$34.77K	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	`InventoryFinishedGoods`	$7.98K	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	27.69M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	17.19M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$1.12M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.19M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	27.69M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	17.19M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.71M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.29M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$25.38K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$119.75K	USD	Point-in-time
Total Assets	`Assets`	$2.86M	USD	Point-in-time
Total Assets	`Assets`	$7.60M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$363.62K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$997.79K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$123.45K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$9.81K	USD	Point-in-time
Customer deposits and deferred rental revenue	`DeferredRevenueAndCreditsCurrent`	$46.16K	USD	Point-in-time
Customer deposits and deferred rental revenue	`DeferredRevenueAndCreditsCurrent`	$107.37K	USD	Point-in-time
Accrued stock payable	`DeferredCompensationShareBasedArrangementsLiabilityCurrent`	$321.86K	USD	Point-in-time
Notes payable (net of discount)	`NotesAndLoansPayableCurrent`	$1.18M	USD	Point-in-time
Infinity Note related party	`LinesOfCreditCurrent`	$1.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$419.58K	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$4.10M	USD	Point-in-time
Notes payable (net of discount)	`LongTermNotesAndLoans`	$1.25M	USD	Point-in-time
Infinity Note related party	`LongTermLineOfCredit`	$1.37M	USD	Point-in-time
Tenant deposits	`SecurityDepositLiability`	$8.85K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.10M	USD	Point-in-time
Total Liabilities	`Liabilities`	$3.05M	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, 2017 and 2016	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 share authorized; no shares issued and outstanding at December 31, 2017 and 2016	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,692,910 shares and 17,193,371 shares issued and outstanding on December 31, 2017 and 2016, respectively	`CommonStockValue`	$27.69K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 27,692,910 shares and 17,193,371 shares issued and outstanding on December 31, 2017 and 2016, respectively	`CommonStockValue`	$17.19K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$26.39M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.29M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-26.59M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.81M	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-190.22K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Total Stockholders Equity (Deficit)	`StockholdersEquity`	$3.51M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$2.86M	USD	Point-in-time
Total Liabilities & Stockholders Equity (Deficit)	`LiabilitiesAndStockholdersEquity`	$7.60M	USD	Point-in-time

Income Statement 40 line items

Line Item	Tag	Value	Unit	Period
Service	`SalesRevenueServicesGross`	$2.83M	USD	Annual
Service	`SalesRevenueServicesGross`	$2.74M	USD	Annual
Tenant	`PaymentsForProceedsFromTenantAllowance`	$132.78K	USD	Annual
Tenant	`PaymentsForProceedsFromTenantAllowance`	$128.43K	USD	Annual
Product sales	`SalesRevenueGoodsGross`	$562.70K	USD	Annual
Product sales	`SalesRevenueGoodsGross`	$117.70K	USD	Annual
Total revenues	`Revenues`	$3.52M	USD	Annual
Total revenues	`Revenues`	$2.98M	USD	Annual
Cost of service revenues	`CostOfServicesDirectLabor`	$1.92M	USD	Annual
Cost of service revenues	`CostOfServicesDirectLabor`	$2.41M	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$380.63K	USD	Annual
Cost of goods sold	`CostOfGoodsSold`	$76.98K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.04M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.84M	USD	Annual
Share-based expense	`ShareBasedCompensation`	$3.75M	USD	Annual
Share-based expense	`ShareBasedCompensation`	$3.88M	USD	Annual
Professional fees	`ProfessionalFees`	$712.59K	USD	Annual
Professional fees	`ProfessionalFees`	$513.99K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$125.91K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$394.21K	USD	Annual
Impairment of Notes receivable DB Arizona	`ImpairmentOfNotesReceivable`	$-221.67K	USD	Annual
Impairment of intangible assets and goodwill	`AssetImpairmentCharges`	$1.34M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$10.04M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$10.57M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-7.06M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-7.05M	USD	Annual
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.06M	USD	Annual
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$651.79K	USD	Annual
Interest expense	`InterestExpense`	$287.08K	USD	Annual
Interest expense	`InterestExpense`	$313.13K	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.17M	USD	Annual
Gain on sale of Pueblo property	`GainLossOnSaleOfPropertyPlantEquipment`	$196.00K	USD	Annual
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-3.11M	USD	Annual
Total other (income) expense, net	`OtherNonoperatingIncomeExpense`	$-1.17M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-10.17M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-8.22M	USD	Annual
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.66	USD	Annual
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.40	USD	Annual
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	15.49M	shares	Annual
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.47M	shares	Annual

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-10.17M	USD	Annual
Net loss	`NetIncomeLoss`	$-8.22M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$651.79K	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.06M	USD	Annual
Loss on extinguishment of debt	`GainsLossesOnExtinguishmentOfDebt`	$-2.17M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$394.21K	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$125.91K	USD	Annual
Impairment of Notes receivable DB Arizona	`ImpairmentOfNotesReceivable`	$-221.67K	USD	Annual
Impairment of intangible assets and goodwill	`GoodwillImpairmentLoss`	$1.34M	USD	Annual
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$3.75M	USD	Annual
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$3.88M	USD	Annual
Gain on sale of Pueblo property	`FairValueNetDerivativeAssetLiabilityMeasuredOnRecurringBasisChangeInUnrealizedGainLoss`	$-196.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-57.66K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-275.97K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-31.96K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-96.56K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$7.54K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$-26.79K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$80.46K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$326.22K	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-1.85M	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-3.20M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$53.69K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$41.45K	USD	Annual
Net cash proceeds from sale of Pueblo property	`IncomeLossFromEquityMethodInvestments`	$-579.82K	USD	Annual
Lending on Notes receivable DB Arizona	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-75.00K	USD	Annual
Lending on Notes receivable DB Arizona	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-26.50K	USD	Annual
Purchase of GC Finance Arizona LLC membership interest	`PaymentsToAcquireBusinessesAndInterestInAffiliates`	$106.00K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$393.63K	USD	Annual
Net cash provided by (used in) investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-116.45K	USD	Annual
Proceeds from sale of common stock and common stock warrants	`ProceedsFromIssuanceOfCommonStock`	$3.75M	USD	Annual
Proceeds from exercise of warrants and options for shares of common stock	`ProceedsFromStockOptionsExercised`	$606.09K	USD	Annual
Proceeds from exercise of warrants and options for shares of common stock	`ProceedsFromStockOptionsExercised`	$3.32M	USD	Annual
Borrowings under notes payable	`ProceedsFromNotesPayable`	$2.50M	USD	Annual
Increase in Infinity Note -- related party	`LineOfCreditFacilityIncreaseDecreaseForPeriodNet`	$-497.50K	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$917.31K	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.07M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$2.69M	USD	Annual
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$715.08K	USD	Annual
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.26M	USD	Annual
CASH, BEGINNING OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$5.04M	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$58.71K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$5.04M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$169.21K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$195.76K	USD	Annual
ProceedsFromWarrantExercises	`ProceedsFromWarrantExercises`	$878.75K	USD	Annual
ProceedsFromWarrantExercises	`ProceedsFromWarrantExercises`	$250.00K	USD	Annual
Taxes for stock options included in other assets and accrued expenses	`IncomeTaxEffectsAllocatedDirectlyToEquityEmployeeStockOptions`	$499.59K	USD	Annual
Warrants issued in connection with debt recorded as debt discount	`WarrantsIssuedInConnectionWithDebtRecordedAsDebtDiscount`	$1.89M	USD	Annual
Issuance of common stock for accrued stock payable	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$1.73M	USD	Annual
10% Notes and 14% Greenhouse Mortgage converted to 12% Notes	`ProceedsFromConvertibleDebt`	$550.00K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance	`StockholdersEquity`	$-190.22K	USD	Point-in-time
Balance	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.51M	USD	Point-in-time
Common stock and warrants issued with Fall 2017 capital raise	`CommonStockAndWarrantsIssuedValue`	$4.00M	USD	Annual
Warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$150.16K	USD	Annual
Warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$8.96K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$25.44K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$25.00K	USD	Annual
Stock options granted to employees	`StockOptionPlanExpense`	$3.35M	USD	Annual
Stock options granted to employees	`StockOptionPlanExpense`	$3.74M	USD	Annual
Common stock issued to employees	`StockIssuedDuringPeriodValueEmployeeStockOwnershipPlan`	$132.18K	USD	Annual
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$153.34K	USD	Annual
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$783.49K	USD	Annual
Net loss	`ProfitLoss`	$-8.22M	USD	Annual
Net loss	`ProfitLoss`	$-10.17M	USD	Annual
Balance	`StockholdersEquity`	$-190.22K	USD	Point-in-time
Balance	`StockholdersEquity`	$-208.18K	USD	Point-in-time
Balance	`StockholdersEquity`	$3.51M	USD	Point-in-time

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