10-K Filing

TREES CORP (COLORADO) CIK: 1477009 FY 2018

Filing Information

Form Type	10-K
Accession Number	`0001398432-19-000020`
Period End Date	20181231
Filing Date	20190308
Fiscal Year	2018
Fiscal Period	FY
XBRL Instance	cann-20181231.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 60 Income Statement 36 Cash Flow Statement 59 Stockholders Equity 18

Balance Sheet 60 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`	$5.04M	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
Cash and cash equivalents	`CashAndCashEquivalentsAtCarryingValue`	$7.96M	USD	Point-in-time
Accounts receivable, net	`AccountsReceivableNetCurrent`	$415.58K	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
Accounts receivable, net	`AccountsReceivableNetCurrent`	$446.22K	USD	Point-in-time
Note receivable	`AccountsNotesAndLoansReceivableNetCurrent`	$50.00K	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
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
Common Stock, par value (in Dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Prepaid expenses and other current assets	`PrepaidExpenseCurrent`	$440.89K	USD	Point-in-time
Inventory	`InventoryFinishedGoods`	$123.26K	USD	Point-in-time
Common Stock, shares authorized	`CommonStockSharesAuthorized`	100.00M	shares	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 issued	`CommonStockSharesIssued`	36.22M	shares	Point-in-time
Common Stock, shares issued	`CommonStockSharesIssued`	27.69M	shares	Point-in-time
Total current assets	`AssetsCurrent`	$8.99M	USD	Point-in-time
Total current assets	`AssetsCurrent`	$6.19M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.29M	USD	Point-in-time
Property and equipment, net	`PropertyPlantAndEquipmentNet`	$1.46M	USD	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	27.69M	shares	Point-in-time
Common Stock, shares outstanding	`CommonStockSharesOutstanding`	36.22M	shares	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$42.25K	USD	Point-in-time
Intangible assets, net	`IntangibleAssetsNetExcludingGoodwill`	$119.75K	USD	Point-in-time
Investment	`Investments`	$250.00K	USD	Point-in-time
Total Assets	`Assets`	$7.60M	USD	Point-in-time
Total Assets	`Assets`	$10.74M	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$997.79K	USD	Point-in-time
Accounts payable and accrued expenses	`AccountsPayableAndAccruedLiabilitiesCurrent`	$525.69K	USD	Point-in-time
Interest payable	`InterestPayableCurrent`	$123.45K	USD	Point-in-time
Customer deposits	`DeferredRevenueAndCreditsCurrent`	$391.29K	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
Notes payable (net of discount)	`NotesAndLoansPayableCurrent`	$5.27M	USD	Point-in-time
Infinity Note related party	`LinesOfCreditCurrent`	$1.37M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$6.19M	USD	Point-in-time
Total current liabilities	`LiabilitiesCurrent`	$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 shares authorized; no shares issued and outstanding at December 31, 2018 and 2017	`PreferredStockValue`	-	USD	Point-in-time
Preferred stock, no par value; 5,000,000 shares authorized; no shares issued and outstanding at December 31, 2018 and 2017	`PreferredStockValue`	-	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 36,222,752 shares and 27,692,910 shares issued and outstanding on December 31, 2018 and 2017, respectively	`CommonStockValue`	$27.69K	USD	Point-in-time
Common Stock, $0.001 par value; 100,000,000 shares authorized; 36,222,752 shares and 27,692,910 shares issued and outstanding on December 31, 2018 and 2017, respectively	`CommonStockValue`	$36.22K	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$38.29M	USD	Point-in-time
Additional paid-in capital	`AdditionalPaidInCapital`	$56.30M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-34.81M	USD	Point-in-time
Accumulated deficit	`RetainedEarningsAccumulatedDeficit`	$-51.79M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$-190.22K	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$3.51M	USD	Point-in-time
Total Stockholders Equity	`StockholdersEquity`	$4.55M	USD	Point-in-time
Total Liabilities & Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$10.74M	USD	Point-in-time
Total Liabilities & Stockholders Equity	`LiabilitiesAndStockholdersEquity`	$7.60M	USD	Point-in-time

Income Statement 36 line items

Line Item	Tag	Value	Unit	Period
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$18.75K	USD	Annual
Rent and interest	`PaymentsForProceedsFromTenantAllowance`	$132.78K	USD	Annual
Total revenues	`Revenues`	$3.52M	USD	Annual
Total revenues	`Revenues`	$4.62M	USD	Annual
Cost of service revenues	`CostDirectLabor`	$2.41M	USD	Annual
Cost of service revenues	`CostDirectLabor`	$3.15M	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$380.63K	USD	Annual
Cost of goods sold	`CostOfGoodsAndServicesSold`	$590.59K	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$4.62M	USD	Annual
Selling, general and administrative	`SellingGeneralAndAdministrativeExpense`	$2.84M	USD	Annual
Share-based expense	`ShareBasedCompensation`	$3.88M	USD	Annual
Share-based expense	`ShareBasedCompensation`	$6.00M	USD	Annual
Professional fees	`ProfessionalFees`	$1.52M	USD	Annual
Professional fees	`ProfessionalFees`	$712.59K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$125.91K	USD	Annual
Depreciation and amortization	`DepreciationAndAmortization`	$149.50K	USD	Annual
Impairment of Notes receivable DB Arizona	`ImpairmentOfNotesReceivable`	$221.67K	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$10.57M	USD	Annual
Total costs and expenses	`CostsAndExpenses`	$16.03M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-11.41M	USD	Annual
OPERATING LOSS	`OperatingIncomeLoss`	$-7.05M	USD	Annual
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$1.06M	USD	Annual
Amortization of debt discount	`AmortizationOfFinancingCostsAndDiscounts`	$4.23M	USD	Annual
Interest expense, net	`InterestExpense`	$313.13K	USD	Annual
Interest expense, net	`InterestExpense`	$325.98K	USD	Annual
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-182.14K	USD	Annual
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$823.82K	USD	Annual
Gain on sale of Pueblo property	`GainLossOnSaleOfPropertyPlantEquipment`	$196.00K	USD	Annual
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-1.17M	USD	Annual
Total other expense, net	`OtherNonoperatingIncomeExpense`	$-5.57M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-8.22M	USD	Annual
NET LOSS	`NetIncomeLoss`	$-16.97M	USD	Annual
Net loss per share (in Dollars per share)	`EarningsPerShareDiluted`	$-0.49	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`	34.94M	shares	Annual
Weighted average number of common shares outstanding (in Shares)	`WeightedAverageNumberOfSharesOutstandingBasic`	20.47M	shares	Annual

Cash Flow Statement 59 line items

Line Item	Tag	Value	Unit	Period
Net loss	`NetIncomeLoss`	$-8.22M	USD	Annual
Net loss	`NetIncomeLoss`	$-16.97M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$1.06M	USD	Annual
Amortization of debt discount	`AmortizationOfDebtDiscountPremium`	$4.23M	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$149.50K	USD	Annual
Depreciation and amortization expense	`DepreciationDepletionAndAmortization`	$125.91K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$82.61K	USD	Annual
Bad debt expense	`ProvisionForDoubtfulAccounts`	$87.59K	USD	Annual
Impairment of Notes receivable DB Arizona	`ImpairmentOfNotesReceivable`	$221.67K	USD	Annual
Impairment of Desert Created investment	`EquityMethodInvestmentOtherThanTemporaryImpairment`	$823.82K	USD	Annual
Loss from Desert Created investment	`IncomeLossFromEquityMethodInvestments`	$-182.14K	USD	Annual
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$3.88M	USD	Annual
Share-based payments	`EmployeeBenefitsAndShareBasedCompensation`	$6.00M	USD	Annual
Gain on sale of Pueblo property	`GainLossOnSaleOfProperties`	$196.00K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$56.95K	USD	Annual
Accounts receivable	`IncreaseDecreaseInAccountsReceivable`	$358.59K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$-231.75K	USD	Annual
Prepaid expenses and other assets	`IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets`	$96.56K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$88.49K	USD	Annual
Inventory	`IncreaseDecreaseInInventories`	$26.79K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$326.22K	USD	Annual
Accounts payable and accrued liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$-311.63K	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-3.20M	USD	Annual
Net cash used in operating activities:	`NetCashProvidedByUsedInOperatingActivities`	$-5.73M	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$241.31K	USD	Annual
Purchase of property and equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$53.69K	USD	Annual
Net cash proceeds from sale of Pueblo property	`ProceedsFromSaleOfOtherRealEstate`	$579.82K	USD	Annual
Lending on notes receivable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-650.00K	USD	Annual
Lending on notes receivable	`ProceedsFromRepaymentsOfRelatedPartyDebt`	$-26.50K	USD	Annual
Proceeds on notes receivable	`ProceedsFromCollectionOfNotesReceivable`	$600.00K	USD	Annual
Proceeds on investment in Desert Created	`PaymentsForProceedsFromInvestments`	$-23.05K	USD	Annual
Purchase of GC Finance Arizona LLC	`PaymentsToAcquireInvestments`	$106.00K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$393.63K	USD	Annual
Net cash (used in) provided by investing activities	`NetCashProvidedByUsedInInvestingActivities`	$-568.27K	USD	Annual
Proceeds from sale of common stock and common stock warrants	`ProceedsFromIssuanceOfCommonStock`	$3.75M	USD	Annual
Note principal used to exercise warrants	`ProceedsFromWarrantExercises`	$3.99M	USD	Annual
Note principal used to exercise warrants	`ProceedsFromWarrantExercises`	$3.05M	USD	Annual
Acquisition of MHPS accrued stock payable	`StockIssuedDuringPeriodValueAcquisitions`	$155.00K	USD	Annual
Acquisition of MHPS accrued stock payable	`StockIssuedDuringPeriodValueAcquisitions`	$-155.00K	USD	Annual
Taxes for stock options included in other assets and accrued expenses	`IncomeTaxEffectsAllocatedDirectlyToEquityEmployeeStockOptions`	$499.59K	USD	Annual
8.5% Warrants recorded as debt discount and additional paid-in capital	`ProceedsFromIssuanceOfLongTermDebtAndCapitalSecuritiesNet`	$5.37M	USD	Annual
Issuance of common stock for accrued stock payable	`StockIssuedDuringPeriodValueShareBasedCompensationGross`	$321.86K	USD	Annual
Issuance of common stock and warrants for investment in Desert Created	`InvestmentsInAffiliatesSubsidiariesAssociatesAndJointVentures`	$979.00K	USD	Point-in-time
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$275.56K	USD	Annual
Proceeds from exercise of stock options	`ProceedsFromStockOptionsExercised`	$721.03K	USD	Annual
Proceeds from notes payable	`ProceedsFromNotesPayable`	$7.50M	USD	Annual
Payments on notes payable	`RepaymentsOfNotesPayable`	$1.62M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$7.07M	USD	Annual
Net cash provided by financing activities	`NetCashProvidedByUsedInFinancingActivities`	$9.21M	USD	Annual
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$2.92M	USD	Annual
NET INCREASE IN CASH	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$4.26M	USD	Annual
CASH, BEGINNING OF PERIOD	`Cash`	$5.04M	USD	Point-in-time
CASH, BEGINNING OF PERIOD	`Cash`	$7.96M	USD	Point-in-time
CASH, BEGINNING 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`	$7.96M	USD	Point-in-time
CASH, END OF PERIOD	`Cash`	$773.79K	USD	Point-in-time
Cash paid for interest	`InterestPaidNet`	$637.59K	USD	Annual
Cash paid for interest	`InterestPaidNet`	$195.76K	USD	Annual

Stockholders Equity 18 line items

Line Item	Tag	Value	Unit	Period
Balance as of	`StockholdersEquity`	$-190.22K	USD	Point-in-time
Balance as of	`StockholdersEquity`	$3.51M	USD	Point-in-time
Balance as of	`StockholdersEquity`	$4.55M	USD	Point-in-time
Common stock issued upon exercise of warrants for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$3.25M	USD	Annual
Common stock issued upon exercise of warrants for debt	`StockIssuedDuringPeriodValueConversionOfUnits`	$4.80M	USD	Annual
Warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$71.47K	USD	Annual
Warrants issued for services	`IssuanceOfStockAndWarrantsForServicesOrClaims`	$8.96K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$235.00K	USD	Annual
Common stock issued for services	`StockIssuedDuringPeriodValueIssuedForServices`	$25.44K	USD	Annual
Stock options granted to employees	`StockOptionPlanExpense`	$3.74M	USD	Annual
Stock options granted to employees	`StockOptionPlanExpense`	$3.63M	USD	Annual
Common stock issued upon exercise of stock options	`StockIssuedDuringPeriodValueStockOptionsExercised`	$721.03K	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`	$-16.97M	USD	Annual
Balance as of	`StockholdersEquity`	$-190.22K	USD	Point-in-time
Balance as of	`StockholdersEquity`	$3.51M	USD	Point-in-time
Balance as of	`StockholdersEquity`	$4.55M	USD	Point-in-time

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