10-Q Filing

TREES CORP (COLORADO) CIK: 1477009 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001398432-18-000123`
Period End Date	20180930
Filing Date	20181108
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	cann-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 58 Income Statement 68 Cash Flow Statement 64

Balance Sheet 58 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, shares issued	`PreferredStockSharesIssued`	0.00	shares	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.04M	USD	Point-in-time
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.84M	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$421.54K	USD	Point-in-time
Preferred stock, shares outstanding	`PreferredStockSharesOutstanding`	0.00	shares	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$446.22K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$672.64K	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$300.36K	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
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryFinishedGoods`	$102.34K	USD	Point-in-time
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Inventory	`InventoryFinishedGoods`	$34.77K	USD	Point-in-time
Total current assets	`AssetsCurrent`	$10.67M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.19M	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
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.44M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	36.06M	shares	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.29M	USD	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	27.69M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	27.69M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	36.06M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$61.78K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$119.75K	USD	Point-in-time
Total Assets	`Assets`	$12.17M	USD	Point-in-time
Total Assets	`Assets`	$7.60M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$511.41K	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`	$152.37K	USD	Point-in-time
Customer deposits	`DeferredRevenueAndCreditsCurrent`	$112.38K	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`	$4.10M	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`	$4.88M	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 shares authorized; no shares issued and outstanding at September 30, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 shares authorized; no shares issued and outstanding at September 30, 2018 and December 31, 2017	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 36,057,827 shares and 27,692,910 shares issued and outstanding on September 30, 2018 and December 31, 2017, respectively	`CommonStockValue`	$36.06K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 36,057,827 shares and 27,692,910 shares issued and outstanding on September 30, 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`	$54.42M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-47.16M	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`	$7.29M	USD	Point-in-time
Total Liabilities & Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$12.17M	USD	Point-in-time
Total Liabilities & Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$7.60M	USD	Point-in-time

Income Statement 68 line items

Line Item	Tag	Value	Unit	Period
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$32.90K	USD	1 Quarter
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$16.86K	USD	3 Qtrs
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$16.86K	USD	1 Quarter
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$99.25K	USD	3 Qtrs
Total revenues	`Revenues`	$1.10M	USD	1 Quarter
Total revenues	`Revenues`	$2.53M	USD	3 Qtrs
Total revenues	`Revenues`	$979.99K	USD	1 Quarter
Total revenues	`Revenues`	$3.15M	USD	3 Qtrs
Cost of service revenues	`CostDirectLabor`	$752.15K	USD	1 Quarter
Cost of service revenues	`CostDirectLabor`	$805.66K	USD	1 Quarter
Cost of service revenues	`CostDirectLabor`	$2.39M	USD	3 Qtrs
Cost of service revenues	`CostDirectLabor`	$1.76M	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$240.58K	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$146.01K	USD	3 Qtrs
Cost of goods sold	`CostOfGoodsAndServicesSold`	$32.46K	USD	1 Quarter
Cost of goods sold	`CostOfGoodsAndServicesSold`	$52.60K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$657.53K	USD	1 Quarter
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$3.20M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.98M	USD	3 Qtrs
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$1.09M	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$4.25M	USD	3 Qtrs
Share-based expense	`ShareBasedCompensation`	$839.32K	USD	1 Quarter
Share-based expense	`ShareBasedCompensation`	$3.00M	USD	3 Qtrs
Share-based expense	`ShareBasedCompensation`	$1.29M	USD	1 Quarter
Professional fees	`ProfessionalFees`	$275.52K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$126.30K	USD	1 Quarter
Professional fees	`ProfessionalFees`	$1.17M	USD	3 Qtrs
Professional fees	`ProfessionalFees`	$454.59K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$88.79K	USD	3 Qtrs
Depreciation and amortization	`DepreciationAndAmortization`	$39.88K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$38.73K	USD	1 Quarter
Depreciation and amortization	`DepreciationAndAmortization`	$109.27K	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$11.27M	USD	3 Qtrs
Total costs and expenses	`CostsAndExpenses`	$3.55M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$2.45M	USD	1 Quarter
Total costs and expenses	`CostsAndExpenses`	$7.51M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-2.46M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-1.47M	USD	1 Quarter
OPERATING LOSS	`OperatingIncomeLoss`	$-4.98M	USD	3 Qtrs
OPERATING LOSS	`OperatingIncomeLoss`	$-8.11M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$3.01M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.56M	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$193.82K	USD	1 Quarter
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$750.47K	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$214.33K	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$240.38K	USD	3 Qtrs
Interest expense, net	`InterestExpense`	$81.56K	USD	1 Quarter
Interest expense, net	`InterestExpense`	$119.10K	USD	1 Quarter
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-182.14K	USD	3 Qtrs
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-62.16K	USD	1 Quarter
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$823.82K	USD	3 Qtrs
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$18.32K	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-1.76M	USD	1 Quarter
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-4.24M	USD	3 Qtrs
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-990.85K	USD	3 Qtrs
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-275.38K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-4.21M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-1.74M	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-5.97M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-12.35M	USD	3 Qtrs
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.12	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.35	USD	3 Qtrs
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.08	USD	1 Quarter
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.30	USD	3 Qtrs
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	19.88M	shares	3 Qtrs
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	36.01M	shares	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.65M	shares	1 Quarter
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	34.92M	shares	3 Qtrs

Cash Flow Statement 64 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-4.21M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-1.74M	USD	1 Quarter
Net loss	`NetIncomeLoss`	$-5.97M	USD	3 Qtrs
Net loss	`NetIncomeLoss`	$-12.35M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$3.01M	USD	3 Qtrs
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$750.47K	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$88.79K	USD	3 Qtrs
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$109.27K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$78.70K	USD	3 Qtrs
Bad debt expense	`ProvisionForDoubtfulAccounts`	$82.61K	USD	3 Qtrs
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$823.82K	USD	3 Qtrs
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$18.32K	USD	1 Quarter
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-182.14K	USD	3 Qtrs
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-62.16K	USD	1 Quarter
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$4.25M	USD	3 Qtrs
Equity-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$3.00M	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-179.89K	USD	3 Qtrs
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$-57.93K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-109.38K	USD	3 Qtrs
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$395.32K	USD	3 Qtrs
Inventory	`IncreaseDecreaseInInventories`	$-67.57K	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`	$-467.45K	USD	3 Qtrs
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-2.12M	USD	3 Qtrs
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-4.08M	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$197.71K	USD	3 Qtrs
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$38.92K	USD	3 Qtrs
Lending on note receivable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-26.50K	USD	3 Qtrs
Lending on note receivable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-585.00K	USD	3 Qtrs
Proceeds on note receivable	`ProceedsFromCollectionOfNotesReceivable`	$600.00K	USD	3 Qtrs
Investment in Desert Created	`PaymentsToAcquireEquityMethodInvestments`	$50.00K	USD	3 Qtrs
Purchase of GC Finance Arizona LLC	`PaymentsToAcquireInvestments`	$106.00K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-171.43K	USD	3 Qtrs
Net cash used in investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-232.71K	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfCommonStock`	$3.99M	USD	3 Qtrs
Proceeds from exercise of warrants	`ProceedsFromIssuanceOfCommonStock`	$1.33M	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$625.60K	USD	3 Qtrs
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$272.81K	USD	3 Qtrs
Proceeds from the sale of common stock accrued stock payable	`ProceedsFromIssuanceOrSaleOfEquity`	$166.86K	USD	Annual
Proceeds from the sale of common stock accrued stock payable	`ProceedsFromIssuanceOrSaleOfEquity`	$175.00K	USD	3 Qtrs
Proceeds from notes payable	`ProceedsFromNotesPayable`	$7.50M	USD	3 Qtrs
Payments on notes payable	`RepaymentsOfNotesPayable`	$-1.62M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.12M	USD	3 Qtrs
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$1.77M	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.80M	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-521.26K	USD	3 Qtrs
CASH, BEGINNING OF PERIOD	`Cash`	$252.54K	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$5.04M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$9.84M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$252.54K	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$5.04M	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$9.84M	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$131.76K	USD	3 Qtrs
Cash paid for interest	`InterestPaidNet`	$334.37K	USD	3 Qtrs
Note principal used to exercise Warrants	`ProceedsFromWarrantExercises`	$668.75K	USD	3 Qtrs
Note principal used to exercise Warrants	`ProceedsFromWarrantExercises`	$604.00K	USD	3 Qtrs
8.5% Warrants recorded as debt discount and additional paid-in capital	`ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet`	$5.37M	USD	3 Qtrs
Acquisition of MHPS accrued stock payable	`StockIssuedDuringPeriodValueAcquisitions`	$155.00K	USD	3 Qtrs
Issuance of common stock for accrued stock payable	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$321.86K	USD	3 Qtrs
Issuance of common stock and warrants for investment in Desert Created	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$979.00K	USD	Point-in-time
Portion of Dope Media Note related to reimbursed legal fees	`ReimbursementOfLegalFees`	$15.00K	USD	3 Qtrs

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