10-Q Filing

TREES CORP (COLORADO) CIK: 1477009 Q1 2018

Filing Information

Form Type	10-Q
Accession Number	`0001398432-18-000062`
Period End Date	20180331
Filing Date	20180511
Fiscal Year	2018
Fiscal Period	Q1
XBRL Instance	cann-20180331.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 59 Income Statement 37 Cash Flow Statement 47

Balance Sheet 59 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`	$4.64M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.04M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$368.35K	USD	Point-in-time
Preferred stock, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$446.22K	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
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$214.59K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$672.64K	USD	Point-in-time
Inventory	`InventoryFinishedGoods`	$34.77K	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
Inventory	`InventoryFinishedGoods`	$120.20K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$6.19M	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$5.34M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	27.69M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	35.43M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.42M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.29M	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$100.64K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$119.75K	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	27.69M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	35.43M	shares	Point-in-time
Investment in Desert Created	`EquityMethodInvestments`	$125.67K	USD	Point-in-time
Total Assets	`Assets`	$6.99M	USD	Point-in-time
Total Assets	`Assets`	$7.60M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$816.43K	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
Customer deposits	`DeferredRevenueAndCreditsCurrent`	$71.44K	USD	Point-in-time
Customer deposits	`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`	$4.10M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$887.88K	USD	Point-in-time
Total Liabilities	`Liabilities`	$887.88K	USD	Point-in-time
Total Liabilities	`Liabilities`	$4.10M	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, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 share authorized; no shares issued and outstanding at March 31, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 35,433,990 shares and 27,692,910 shares issued and outstanding on March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$35.43K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 35,433,990 shares and 27,692,910 shares issued and outstanding on March 31, 2018 and December 31, 2017, respectively	`CommonStockValue`	$27.69K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$45.35M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-39.28M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.81M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$3.51M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$6.10M	USD	Point-in-time
Total Liabilities & Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$6.99M	USD	Point-in-time
Total Liabilities & Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$7.60M	USD	Point-in-time

Income Statement 37 line items

Line Item	Tag	Value	Unit	Period
Service	`SalesRevenueServicesGross`	$663.33K	USD	1 Quarter
Service	`SalesRevenueServicesGross`	$893.38K	USD	1 Quarter
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$32.48K	USD	1 Quarter
Product sales	`SalesRevenueGoodsGross`	$23.29K	USD	1 Quarter
Product sales	`SalesRevenueGoodsGross`	$49.10K	USD	1 Quarter
Total revenues	`Revenues`	$719.11K	USD	1 Quarter
Total revenues	`Revenues`	$942.48K	USD	1 Quarter
Cost of service revenues	`CostDirectLabor`	$752.47K	USD	1 Quarter
Cost of service revenues	`CostDirectLabor`	$457.70K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$77.69K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$18.61K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$723.91K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$942.18K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$1.76M	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$1.43M	USD	1 Quarter
Professional fees	`ProfessionalFees`	$545.11K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$246.61K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$24.57K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$32.94K	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.91M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$4.11M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-2.19M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-3.17M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$364.93K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$443.92K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$78.03K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$2.66K	USD	1 Quarter
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-47.83K	USD	1 Quarter
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$805.50K	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-442.96K	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-1.30M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-2.63M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.47M	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.14	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.14	USD	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	32.03M	shares	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	18.90M	shares	1 Quarter

Cash Flow Statement 47 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-2.63M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-4.47M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$443.92K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$364.93K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$32.94K	USD	1 Quarter
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$24.57K	USD	1 Quarter
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$805.50K	USD	1 Quarter
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-47.83K	USD	1 Quarter
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$1.43M	USD	1 Quarter
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$1.76M	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-57.21K	USD	1 Quarter
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$77.87K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-36.99K	USD	1 Quarter
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$458.05K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-85.44K	USD	1 Quarter
Inventory	`IncreaseDecreaseInInventories`	$-1.74K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-340.73K	USD	1 Quarter
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-57.02K	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-958.71K	USD	1 Quarter
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-1.27M	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$12.38K	USD	1 Quarter
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$139.06K	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`	$-139.06K	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfCommonStock`	$3.56M	USD	1 Quarter
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfCommonStock`	$553.12K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$78.31K	USD	1 Quarter
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$443.32K	USD	1 Quarter
Payments on notes payable	`RepaymentsOfNotesPayable`	$-1.62M	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$631.43K	USD	1 Quarter
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.01M	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-366.16K	USD	1 Quarter
NET DECREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-395.99K	USD	1 Quarter
CASH, BEGINNING OF PERIOD	`Cash`	$407.64K	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, BEGINNING OF PERIOD	`Cash`	$4.64M	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$407.64K	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, END OF PERIOD	`Cash`	$4.64M	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$69.50K	USD	1 Quarter
Cash paid for interest	`InterestPaidNet`	$202.75K	USD	1 Quarter
Issuance of common stock and warrants for investment in Desert Created	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$979.00K	USD	Point-in-time
Issuance of common stock for accrued stock payable	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$321.86K	USD	1 Quarter
12% Note principal used to exercise 12% Warrants	`ProceedsFromWarrantExercises`	$668.75K	USD	1 Quarter

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