Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2019 | Feb. 14, 2020 | |
Document Information [Line Items] | ||
Entity Registrant Name | GB SCIENCES INC | |
Entity Central Index Key | 0001165320 | |
Current Fiscal Year End Date | --03-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Interactive Data Current | Yes | |
Entity Common Stock, Shares Outstanding (in shares) | 272,767,352 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2019 | |
Document Fiscal Year Focus | 2020 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2019 | Mar. 31, 2019 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 37,300 | $ 182,055 |
Accounts receivable, net of allowance for doubtful accounts of $91,536 and $66,748 at December 31, 2019 and March 31, 2019, respectively | 80,436 | 488,329 |
Inventory, net | 1,560,048 | 1,533,792 |
Prepaid expenses and other current assets | 83,240 | 262,208 |
Note receivable, net of unamortized discount of $884,958 and $0 at December 31, 2019 and March 31, 2019, respectively | 1,365,042 | |
Current assets from discontinued operations | 1,000,387 | |
TOTAL CURRENT ASSETS | 3,126,066 | 3,466,771 |
Property and equipment, net | 10,097,430 | 10,481,706 |
Intangible assets, net of accumulated amortization of $3,745 at December 31, 2019 and March 31, 2019 | 2,073,839 | 1,818,802 |
Note receivable, net of unamortized discount of $383,867 and $0 at December 31, 2019 and March 31, 2019, respectively | 5,366,133 | |
Deposits and other noncurrent assets | 95,504 | 230,651 |
Operating lease right-of-use assets, net | 144,146 | |
Non-current assets from discontinued operations | 14,025,372 | |
TOTAL ASSETS | 20,903,118 | 30,023,302 |
CURRENT LIABILITIES: | ||
Accounts payable | 1,998,994 | 1,374,771 |
Accrued interest | 429,064 | 142,112 |
Accrued liabilities | 469,053 | 244,931 |
Notes and convertible notes payable, net of unamortized discount of $1,008,086 and $799,410 at December 31, 2019 and March 31, 2019, respectively | 4,860,221 | 2,229,812 |
Indebtedness to related parties | 324,738 | |
Note payable to related party | 151,923 | |
Income tax payable | 506,145 | 506,145 |
Operating lease obligations, current | 47,084 | |
Finance lease obligations, current | 134,239 | 80,132 |
Current liabilities from discontinued operations | 2,134,277 | |
TOTAL CURRENT LIABILITIES | 8,921,461 | 6,712,180 |
Note payable, net of unamortized discount of $0 and $13,929 at December 31, 2019 and March 31, 2019, respectively | 161,072 | |
Operating lease obligations, long term | 114,052 | |
Finance lease obligations, long term | 3,565,622 | 3,646,540 |
Long term liabilities from discontinued operations | 2,347,511 | |
TOTAL LIABILITIES | 12,601,135 | 12,867,303 |
Commitments and contingencies (Note 8) | ||
STOCKHOLDERS' EQUITY: | ||
Common Stock, $0.0001 par value, 600,000,000 shares authorized, 270,553,352 and 240,627,102 shares issued and outstanding at December 31, 2019 and March 31, 2019, respectively | 27,056 | 24,063 |
Additional paid-in capital | 97,039,072 | 93,020,015 |
Accumulated deficit | (88,764,145) | (84,743,836) |
TOTAL GB SCIENCES, INC. STOCKHOLDERS' EQUITY | 8,301,983 | 8,300,242 |
Non-controlling interest in discontinued operations | 8,855,757 | |
TOTAL EQUITY | 8,301,983 | 17,155,999 |
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ 20,903,118 | $ 30,023,302 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2019 | Mar. 31, 2019 |
Accounts receivable, allowance for doubtful accounts | $ 91,536 | $ 66,748 |
Note receivable, unamortized discount, current | 884,958 | 0 |
Intangible assets, accumulated amortization | 3,745 | 3,745 |
Note receivable, unamortized discount, noncurrent | 383,867 | 0 |
Notes and convertible notes payable, unamortized discount, current | 1,008,086 | 799,410 |
Note payable, unamortized discount, noncurrent | $ 0 | $ 13,929 |
Common stock, par value (in dollars per share) | $ 0.0001 | $ 0.0001 |
Common stock, shares authorized (in shares) | 600,000,000 | 600,000,000 |
Common stock, shares issued (in shares) | 270,553,352 | 240,627,102 |
Common stock, shares outstanding (in shares) | 270,553,352 | 240,627,102 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Sales revenue | $ 254,131 | $ 695,764 | $ 2,336,505 | $ 2,728,277 |
Cost of goods sold | (675,933) | (302,569) | (3,157,452) | (1,185,878) |
Gross profit (loss) | (421,802) | 393,195 | (820,947) | 1,542,399 |
General and administrative expenses | 1,744,699 | 2,456,411 | 5,213,561 | 10,079,767 |
LOSS FROM OPERATIONS | (2,166,501) | (2,063,216) | (6,034,508) | (8,537,368) |
OTHER INCOME (EXPENSE) | ||||
Interest expense, net | (419,264) | (258,522) | (1,332,637) | (4,681,235) |
Other expense | (118,695) | (402,504) | 74,920 | (3,352,311) |
Loss on extinguishment | (92,795) | (216,954) | ||
Gain on deconsolidation of subsidiary | 4,502,058 | 4,502,058 | ||
Total other income/(expense) | 3,871,304 | (661,026) | 3,027,387 | (8,033,546) |
NET INCOME/(LOSS) BEFORE INCOME TAXES | 1,704,803 | (2,724,242) | (3,007,121) | (16,570,914) |
Income tax expense | (737,568) | (737,568) | ||
INCOME/(LOSS) FROM CONTINUING OPERATIONS | 1,704,803 | (3,461,810) | (3,007,121) | (17,308,482) |
Loss from discontinued operations | (720,656) | (588,837) | (1,476,220) | (2,124,713) |
NET INCOME/(LOSS) | 984,147 | (4,050,647) | (4,483,341) | (19,433,195) |
Net loss attributable to non-controlling interest | (360,327) | (287,406) | (738,107) | (762,966) |
NET INCOME/(LOSS) ATTRIBUTABLE TO GB SCIENCES, INC. | 1,344,474 | (3,763,241) | (3,745,234) | (18,670,229) |
Continuing operations | 1,704,803 | (3,461,810) | (3,007,121) | (17,308,482) |
Discontinued operations | (360,329) | (301,431) | (738,113) | (1,361,747) |
Net income/(loss) | 1,344,474 | (3,763,241) | (3,745,234) | (18,670,229) |
Continuing operations | 1,756,411 | (3,461,810) | (3,007,121) | (17,308,482) |
Discontinued operations | (360,329) | (301,431) | (738,113) | (1,361,747) |
Net income/(loss) | $ 1,396,082 | $ (3,763,241) | $ (3,745,234) | $ (18,670,229) |
Continuing operations, basic (in dollars per share) | $ 0.01 | $ (0.02) | $ (0.01) | $ (0.08) |
Discontinued operations, basic (in dollars per share) | (0.01) | |||
Net income/(loss), basic (in dollars per share) | 0.01 | (0.02) | (0.01) | (0.09) |
Continuing operations, diluted (in dollars per share) | 0.01 | (0.02) | (0.01) | (0.08) |
Discontinued operations, diluted (in dollars per share) | (0.01) | |||
Net income/(loss), diluted (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.09) | |
Weighted average common shares outstanding - basic (in shares) | 263,055,254 | 222,856,453 | 253,297,660 | 200,971,724 |
Weighted average common shares outstanding - diluted (in shares) | 325,790,554 | 222,856,453 | 253,297,660 | 200,971,724 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 9 Months Ended | |
Dec. 31, 2019 | Dec. 31, 2018 | |
OPERATING ACTIVITIES: | ||
Net loss | $ (4,483,341) | $ (19,433,195) |
Loss from discontinued operations | (1,476,220) | (2,124,713) |
Net loss from continuing operations | (3,007,121) | (17,308,482) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Depreciation and amortization | 223,249 | 389,813 |
Stock-based compensation | 588,156 | 2,322,629 |
Bad debt expense/(recoveries) | 64,522 | (18,175) |
Amortization of debt discount and beneficial conversion feature | 741,912 | 685,766 |
Interest expense on conversion of notes payable | 93,931 | 3,464,187 |
Noncash expense recorded for settlement of royalty agreement (Note 5) | 2,140,925 | |
Loss on extinguishment of debt and disposal of assets | 224,089 | 113,623 |
Loss on induced conversion of note payable | 127,059 | |
Gain on deconsolidation of subsidiary | (4,502,058) | |
Interest income receivable and amortization of discount on note receivable | (170,994) | |
Changes in operating assets and liabilities: | ||
Accounts receivable | 520,565 | 255,442 |
Prepaid expenses and other current assets | 178,968 | 1,074,985 |
Decrease in deposits and other noncurrent assets | 131,026 | |
Inventory | 343,911 | (1,401,906) |
Accounts payable | 477,913 | (155,164) |
Accrued expenses | 615,667 | 905,432 |
Indebtedness to related parties | 476,661 | |
Net cash used in operating activities of continuing operations | (3,003,570) | (7,399,899) |
Net cash used in operating activities of discontinued operations | (1,244,721) | (447,852) |
Net cash used in operating activities | (4,248,291) | (7,847,751) |
INVESTING ACTIVITIES: | ||
Purchase of property and equipment | (186,297) | (897,087) |
Acquisition of intangible assets | (91,862) | (248,116) |
Net cash used in investing activities of continuing operations | (278,159) | (1,145,203) |
Net cash used in investing activities of discontinued operations | (260,625) | (8,946,434) |
Net cash used in investing activities | (538,784) | (10,091,637) |
FINANCING ACTIVITIES: | ||
Proceeds from issuance of common stock and warrant exercises | 1,860,200 | 8,823,555 |
Proceeds from notes payable and line of credit | 2,960,000 | |
Brokerage fees for issuance of common stock and warrants | (175,628) | |
Fees for issuance of convertible note | (175,000) | |
Principal payments on debt and finance lease obligations | (110,087) | (318,968) |
Cash paid to settle royalty agreement | (1,000,000) | |
Net cash provided by financing activities of continuing operations | 4,359,485 | 7,504,587 |
Net cash provided by financing activities of discontinued operations | 282,835 | 7,179,156 |
Net cash provided by financing activities | 4,642,320 | 14,683,743 |
Net change in cash and cash equivalents | (144,755) | (3,255,645) |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 182,055 | 3,579,700 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 37,300 | 324,055 |
Less: cash and cash equivalents classified as discontinued operations | (236,283) | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD FROM CONTINUING OPERATIONS | 37,300 | 87,772 |
Cash paid for interest | 451,040 | 539,242 |
Cash paid for income tax | ||
Non-cash transactions: | ||
Stock issued upon conversion of long-term note payable | 525,000 | 4,640,971 |
Stock issued to settle royalty agreement | 131,000 | |
Depreciation capitalized in inventory | 370,167 | 104,481 |
Induced dividend from warrant exercises | 267,525 | 2,861,436 |
Property capitalized under operating leases | 182,624 | |
Cumulative effect of the new lease standard | 7,550 | |
Convertible Notes Payable [Member] | ||
Non-cash transactions: | ||
Beneficial conversion feature on notes payable | $ 829,736 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Stockholders' Equity (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Mar. 31, 2018 | 168,616,855 | ||||
Balance at Mar. 31, 2018 | $ 16,862 | $ 70,961,104 | $ (58,229,235) | $ 2,882,990 | $ 15,631,721 |
Issuance of stock for services (in shares) | 3,885,412 | ||||
Issuance of stock for services | $ 388 | 1,231,207 | 1,231,595 | ||
Share based compensation expense (in shares) | |||||
Share based compensation expense | 831,729 | 831,729 | |||
Issuance of stock for cash, net of issuance costs (in shares) | 23,747,778 | ||||
Issuance of stock for cash, net of issuance costs | $ 2,375 | 4,900,460 | 4,902,835 | ||
Contributions from non-controlling interest | 6,920,856 | 6,920,856 | |||
Shares common stock issued to Pacific Leaf (in shares) | 600,000 | ||||
Stock issued to settle royalty agreement | $ 60 | 130,940 | 131,000 | ||
Net Income/(Loss) | (18,670,229) | (762,966) | (19,433,195) | ||
Issuance of stock for debt conversion (in shares) | 18,563,885 | ||||
Issuance of stock for debt conversion | $ 1,856 | 4,639,115 | 4,640,971 | ||
Exercise of warrants for stock (in shares) | 12,657,875 | ||||
Exercise of warrants for stock | $ 1,266 | 3,919,454 | 3,920,720 | ||
Inducement dividend from warrant exercises | 2,861,436 | (2,861,436) | |||
Compensation warrants | 592,638 | 592,638 | |||
Balance (in shares) at Dec. 31, 2018 | 228,071,805 | ||||
Balance at Dec. 31, 2018 | $ 22,807 | 90,068,083 | (79,760,900) | 9,040,880 | 19,370,870 |
Balance (in shares) at Sep. 30, 2018 | 221,760,237 | ||||
Balance at Sep. 30, 2018 | $ 22,176 | 88,860,249 | (75,997,660) | 9,122,287 | 22,007,052 |
Issuance of stock for services (in shares) | 2,341,568 | ||||
Issuance of stock for services | $ 234 | 489,671 | 489,905 | ||
Share based compensation expense (in shares) | |||||
Share based compensation expense | 170,725 | 170,725 | |||
Issuance of stock for cash, net of issuance costs (in shares) | 3,470,000 | ||||
Issuance of stock for cash, net of issuance costs | $ 347 | 452,488 | 452,835 | ||
Contributions from non-controlling interest | 206,000 | 206,000 | |||
Shares common stock issued to Pacific Leaf (in shares) | 500,000 | ||||
Stock issued to settle royalty agreement | $ 50 | 94,950 | 95,000 | ||
Net Income/(Loss) | (3,763,240) | (287,407) | (4,050,647) | ||
Balance (in shares) at Dec. 31, 2018 | 228,071,805 | ||||
Balance at Dec. 31, 2018 | $ 22,807 | 90,068,083 | (79,760,900) | 9,040,880 | 19,370,870 |
Balance (in shares) at Mar. 31, 2019 | 240,627,102 | ||||
Balance at Mar. 31, 2019 | $ 24,063 | 93,020,015 | (84,743,836) | 8,855,757 | $ 17,155,999 |
Issuance of stock for services (in shares) | 2,500,000 | 2,500,000 | |||
Issuance of stock for services | $ 250 | 213,750 | $ 214,000 | ||
Share based compensation expense (in shares) | |||||
Share based compensation expense | 241,242 | $ 241,242 | |||
Issuance of stock for cash, net of issuance costs (in shares) | 7,668,167 | 7,668,167 | |||
Issuance of stock for cash, net of issuance costs | $ 768 | 717,929 | $ 718,697 | ||
Contributions from non-controlling interest | 590,000 | 590,000 | |||
Stock issued to settle royalty agreement | |||||
Net Income/(Loss) | (3,745,234) | (738,107) | (4,483,341) | ||
Issuance of stock for debt conversion (in shares) | 7,583,333 | ||||
Issuance of stock for debt conversion | $ 758 | 524,242 | $ 525,000 | ||
Exercise of warrants for stock (in shares) | 12,574,750 | 12,574,750 | |||
Exercise of warrants for stock | $ 1,257 | 964,620 | $ 965,877 | ||
Beneficial conversion feature on notes payable | 829,736 | 829,736 | |||
Inducement dividend from warrant exercises | 267,525 | (267,525) | |||
Induced note conversions | 127,059 | 127,059 | |||
Deconsolidation of subsidiary | (8,707,650) | (8,707,650) | |||
Compensation warrants | 132,914 | 132,914 | |||
Cancellation of shares issued to consultant (in shares) | (400,000) | ||||
Cancellation of shares issued to consultant | $ (40) | 40 | |||
Cumulative effect of the new lease standard | (7,550) | (7,550) | |||
Balance (in shares) at Dec. 31, 2019 | 270,553,352 | ||||
Balance at Dec. 31, 2019 | $ 27,056 | 97,039,072 | (88,764,145) | 8,301,983 | |
Balance (in shares) at Sep. 30, 2019 | 255,345,019 | ||||
Balance at Sep. 30, 2019 | $ 25,535 | 95,333,271 | (90,071,120) | 9,027,977 | 14,315,663 |
Issuance of stock for services (in shares) | 2,500,000 | ||||
Issuance of stock for services | $ 250 | 213,750 | 214,000 | ||
Share based compensation expense (in shares) | |||||
Share based compensation expense | 32,431 | 32,431 | |||
Issuance of stock for cash, net of issuance costs (in shares) | 4,000,000 | ||||
Issuance of stock for cash, net of issuance costs | $ 400 | 239,600 | 240,000 | ||
Contributions from non-controlling interest | 40,000 | 40,000 | |||
Net Income/(Loss) | 1,344,474 | (360,327) | 984,147 | ||
Issuance of stock for debt conversion (in shares) | 5,583,333 | ||||
Issuance of stock for debt conversion | $ 558 | 244,442 | 245,000 | ||
Exercise of warrants for stock (in shares) | 3,125,000 | ||||
Exercise of warrants for stock | $ 313 | 115,088 | 115,401 | ||
Beneficial conversion feature on notes payable | 695,932 | 695,932 | |||
Inducement dividend from warrant exercises | 37,499 | (37,499) | |||
Induced note conversions | 127,059 | 127,059 | |||
Deconsolidation of subsidiary | (8,707,650) | (8,707,650) | |||
Balance (in shares) at Dec. 31, 2019 | 270,553,352 | ||||
Balance at Dec. 31, 2019 | $ 27,056 | $ 97,039,072 | $ (88,764,145) | $ 8,301,983 |
Note 1 - Background and Signifi
Note 1 - Background and Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | Note 1 GB Sciences, Inc. (“the Company”, “GB Sciences”, “we”, “us”, or “our”) seeks to be a biopharmaceutical research and cannabinoid-based drug development company whose goal is to create patented formulations for safe, standardized, cannabinoid therapies that target a variety of medical conditions in both the pharmaceutical and wellness markets. The Company is is engaged in the research and development of cannabinoid medicines and plans to produce cannabinoid therapies for the wellness markets based on its portfolio of intellectual property. Through its wholly owned Canadian subsidiary, GBS Global Biopharma, Inc. (“GBSGB”), the Company is engaged in the research and development of cannabinoid medicines with virtual operations in North America and Europe. GBSGB assets include cannabinoid medicine intellectual property, research contracts and key supplier arrangements. GBSGB’s intellectual property covers a range of conditions and several programs are in pre-clinical animal stage of development; including Parkinson’s disease, neuropathic pain, and cardiovascular therapeutic programs. GBSGB runs a lean drug development program and takes effort to minimize expenses, including personnel, overhead, and fixed capital expenses through strategic partnerships with Universities and Contract Research Organizations (“CROs”). GBSGB’s intellectual property portfolio includes four four three March 31, 2020, three We currently hold 100% November 15, 2019, 75% $3 $3 We recently completed the sale of the Company's controlling interest in GB Sciences Louisiana, LLC, which has partnered with Louisiana State University to operate a cultivation and extraction facility to produce products for the medical cannabis market. As consideration for the sale of our controlling membership interest in GB Sciences Louisiana, LLC, we received an $8 may $8 50% Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements of GB Sciences, Inc. (the “Company,” “We” or “Us”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10 8 X. not not may March 31, 2020. March 31, 2019 not 10 March 31, 2019 Principles of Consolidation We prepare our consolidated financial statements in accordance with generally accepted accounting principles (GAAP) for the United States of America. Our consolidated financial statements include all operating divisions and majority-owned subsidiaries, reported as a single operating segment, for which we maintain controlling interests. Intercompany accounts and transactions have been eliminated in consolidation. The ownership interest of non-controlling participants in subsidiaries that are not Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to allowances for doubtful accounts, inventory valuation, valuation of initial right-of-use assets and corresponding lease liabilities, valuation of beneficial conversion features in convertible debt, valuation of the assets and liabilities of discontinued operations, stock-based compensation expense, purchased intangible asset valuations, deferred income tax asset valuation allowances, uncertain tax positions, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of costs and expenses that are not may Reclassifications Certain reclassifications have been made to the comparative period amounts in order to conform to the current period presentation. The current and long-term capital lease obligations recorded in the consolidated balance sheet as of March 31, 2019 10 no Discontinued Operations Discontinued operations comprise those activities that were disposed of during the period or which were classified as held for sale at the end of the period and represent a separate major line of business or geographical area that can be clearly distinguished for operational and financial reporting purposes. The assets and liabilities associated with discontinued operations included in our condensed consolidated balance sheets are as follows: Discontinued Operations – (continued) December 31, 2019 March 31, 2019 Continuing Discontinued Total Continuing Discontinued Total ASSETS CURRENT ASSETS Cash $ 37,300 $ - $ 37,300 $ 182,055 $ 45,703 $ 227,758 Accounts receivable, net 80,436 - 80,436 488,329 - 488,329 Inventory, net 1,560,048 - 1,560,048 1,533,792 602,714 2,136,506 Prepaid and other current assets 83,240 - 83,240 262,208 351,970 614,178 Note receivable 1,365,042 - 1,365,042 - - - TOTAL CURRENT ASSETS 3,126,066 - 3,126,066 2,466,384 1,000,387 3,466,771 Property and equipment, net 10,097,430 - 10,097,430 10,481,706 13,022,996 23,504,702 Intangible assets, net 2,073,839 - 2,073,839 1,818,802 - 1,818,802 Note receivable 5,366,133 - 5,366,133 - - - Deposits and other noncurrent assets 95,504 - 95,504 230,651 1,002,376 1,233,027 Operating lease right-of-use assets, net 144,146 - 144,146 - - - TOTAL ASSETS $ 20,903,118 $ - $ 20,903,118 $ 14,997,543 $ 15,025,759 $ 30,023,302 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,998,994 $ - $ 1,998,994 $ 1,374,771 $ 1,695,985 $ 3,070,756 Accrued interest 429,064 - 429,064 142,112 - 142,112 Accrued expenses 469,053 - 469,053 244,931 76,415 321,346 Notes payable, net 4,860,221 - 4,860,221 2,229,812 300,000 2,529,812 Indebtedness to related parties 476,661 - 476,661 - - - Income tax payable 506,145 - 506,145 506,145 - 506,145 Operating lease obligations, current 47,084 - 47,084 - - - Finance lease obligations, current 134,239 - 134,239 80,132 61,877 142,009 TOTAL CURRENT LIABILITIES 8,921,461 - 8,921,461 4,577,903 2,134,277 6,712,180 Note payable, net - - - 161,072 161,072 Operating lease obligations, long term 114,052 - 114,052 - - Finance lease obligations, long term 3,565,622 - 3,565,622 3,646,540 2,347,511 5,994,051 TOTAL LIABILITIES $ 12,601,135 $ - $ 12,601,135 $ 8,385,515 $ 4,481,788 $ 12,867,303 The revenues and expenses associated with discontinued operations included in our condensed consolidated statements of operations were as follows: For the Three Months Ended December 31, 2019 2018 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ 254,131 $ 192,070 $ 446,201 $ 695,764 $ - $ 695,764 Cost of goods sold (675,933 ) (193,915 ) (869,848 ) (302,569 ) - (302,569 ) Gross profit (loss) (421,802 ) (1,845 ) (423,647 ) 393,195 - 393,195 General and administrative expenses 1,744,699 666,042 2,410,741 2,456,411 526,210 2,982,621 LOSS FROM OPERATIONS (2,166,501 ) (667,887 ) (2,834,388 ) (2,063,216 ) (526,210 ) (2,589,426 ) OTHER INCOME/(EXPENSE) Interest expense (419,264 ) (52,769 ) (472,033 ) (258,522 ) (62,627 ) (321,149 ) Other income/(expense) (118,695 ) - (118,695 ) (402,504 ) (402,504 ) Loss on extinguishment (92,795 ) - (92,795 ) - - - Gain on deconsolidation of subsidiary 4,502,058 - 4,502,058 - - - Total other expense 3,871,304 (52,769 ) 3,818,535 (661,026 ) (62,627 ) (723,653 ) NET LOSS BEFORE INCOME TAXES 1,704,803 (720,656 ) 984,147 (2,724,242 ) (588,837 ) (3,313,079 ) Income tax expense - - - (737,568 ) - (737,568 ) NET INCOME/(LOSS) $ 1,704,803 $ (720,656 ) $ 984,147 $ (3,461,810 ) $ (588,837 ) $ (4,050,647 ) For the Nine Months Ended December 31, 2019 2018 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ 2,336,505 $ 569,077 $ 2,905,582 $ 2,728,277 $ - $ 2,728,277 Cost of goods sold (3,157,452 ) (574,544 ) (3,731,996 ) (1,185,878 ) - (1,185,878 ) Gross profit (loss) (820,947 ) (5,467 ) (826,414 ) 1,542,399 - 1,542,399 General and administrative expenses 5,213,561 1,292,613 6,506,174 10,079,767 1,935,766 12,015,533 LOSS FROM OPERATIONS (6,034,508 ) (1,298,080 ) (7,332,588 ) (8,537,368 ) (1,935,766 ) (10,473,134 ) OTHER INCOME/(EXPENSE) Interest expense (1,332,637 ) (178,140 ) (1,510,777 ) (4,681,235 ) (188,947 ) (4,870,182 ) Other income/(expense) 74,920 - 74,920 (3,352,311 ) - (3,352,311 ) Loss on extinguishment (216,954 ) - (216,954 ) - - - Gain on deconsolidation of subsidiary 4,502,058 - 4,502,058 - - - Total other expense 3,027,387 (178,140 ) 2,849,247 (8,033,546 ) (188,947 ) (8,222,493 ) NET LOSS BEFORE INCOME TAXES (3,007,121 ) (1,476,220 ) (4,483,341 ) (16,570,914 ) (2,124,713 ) (18,695,627 ) Income tax expense - - - (737,568 ) - (737,568 ) NET LOSS $ (3,007,121 ) $ (1,476,220 ) $ (4,483,341 ) $ (17,308,482 ) $ (2,124,713 ) $ (19,433,195 ) Long-Lived Assets Property and equipment comprise a significant portion of our total assets. We evaluate the carrying value of property and equipment if impairment indicators are present or if other circumstances indicate that impairment may March 31. may not No March 31, 2019 Inventory We value our inventory at the lower of the actual cost of our inventory, as determined using the first first Beneficial Conversion Feature of Convertible Notes Payable The Company accounts for convertible notes payable in accordance with the guidelines established by the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 470 20, 00 27, No. 98 5 first 718 The value of the proceeds received from a convertible note is then allocated between the conversion features and warrants on a relative fair value basis. The allocated fair value is recorded in the financial statements as a debt discount (premium) from the face amount of the note and such discount is amortized over the expected term of the convertible note (or to the conversion date of the note, if sooner) and is charged to interest expense. Revenue Recognition The FASB issued Accounting Standards Codification (“ASC”) 606 two April 1, 2018 The Company’s only current revenue source is from sales of cannabis, a distinct physical good. Under ASC 606, may may one 606 not Earnings/(loss) per Share The Company’s basic loss per share has been calculated using the weighted average number of common shares outstanding during the period. The Company had 158,728,095 108,999,521 December 31, 2019 2018 nine December 31, 2019 three nine December 31, 2018, not three December 31, 2019, For the Three Months Ended December 31, 2019 Diluted EPS Computation Income (Numerator) Shares (Denominator) Per-Share Amount Net income from continuing operations available to common stockholders $ 1,704,803 Plus: Income impact of assumed conversions Interest expense on convertible notes payable 51,608 Effect of assumed conversions 51,608 Income from continuing operations plus assumed conversions 1,756,411 Net loss from discontinued operations available to common stockholders (360,329 ) Net income available to common stockholders $ 1,396,082 Weighted-average common shares outstanding 263,055,254 Plus: incremental shares from assumed conversions Warrants 26,648,530 Convertible notes payable 36,086,770 Dilutive potential common shares 62,735,300 Adjusted weighted-average shares 325,790,554 Diluted EPS Net income from continuing operations $ 1,756,411 325,790,554 $ 0.01 Net loss from discontinued operations $ (360,329 ) 325,790,554 $ (0.00 ) Net loss $ 1,396,082 325,790,554 $ 0.00 Recent Accounting Pronouncements Recently Adopted Standards In February 2016, 2016 02, 842 Lease payments include fixed payments, variable payments based on an index or rate, reasonably certain purchase options, termination penalties, and others as required by the standard. Lease payments do not December 15, 2018 April 1, 2019. not The Company adopted the New Lease Standard using the modified retrospective transition approach as of the effective date as permitted by the amendments in ASU 2018 11, 842 not April 1, 2019. The Company's consolidated balance sheet was affected by this standard, but the consolidated statement of operations and consolidated statement of cash flows were not April 1, 2019 $182,624, $190,173 In June 2018, 2018 07, 718 2018 07” No 2018 07 718 718 December 15, 2018, April 1, 2019. no All other newly issued accounting pronouncements but not not |
Note 2 - Going Concern
Note 2 - Going Concern | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | Note 2 The Company’s condensed consolidated financial statements have been prepared assuming the Company will continue as a going concern. The Company has sustained net losses since inception, which have caused an accumulated deficit of $ ( 88,764,145 December 31, 2019 $ ( 5,795,395 December 31, 2019 $ ( 3,245,409 $ ( 1,133,890 March 31, 2019 ( 4,248,291 ( 1,244,721 nine December 31, 2019 ( 7,847,751 ( 447,852 Management has been able, thus far, to finance the losses through a public offering, private placements and obtaining operating funds from stockholders. The Company is continuing to seek sources of financing. There are no In view of these conditions, the Company’s ability to continue as a going concern is dependent upon its ability to obtain additional financing or capital sources, to meet its financing requirements, and ultimately to achieve profitable operations. Management believes that its current and future plans provide an opportunity to continue as a going concern. The accompanying consolidated financial statements do not may |
Note 3 - Inventory
Note 3 - Inventory | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Inventory Disclosure [Text Block] | Note 3 Raw materials consist of supplies, materials, and consumables used in the cultivation and extraction processes. Work-in-progress includes live plants and cannabis in the drying, curing, and trimming processes. Finished goods includes completed cannabis flower, trim, extracts, and vapes in bulk and packaged forms. December 31, 2019 March 31, 2019 Raw materials $ 299,740 $ 440,414 Work in progress 1,495,301 676,341 Finished goods 257,995 579,604 Allowance to reduce inventory to NRV (492,988 ) (162,567 ) Total inventory $ 1,560,048 $ 1,533,792 |
Note 4 - Leases
Note 4 - Leases | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | Note 4 The Company determines if an arrangement is a lease at inception and has lease agreements for warehouses, office facilities, and equipment. These commitments have remaining non-cancelable lease terms, with lease expirations which range from 2021 2032. As a result of the adoption of ASC 842, $182,624, $190,173 April 1, 2019, Operating leases are included in other current assets , accrued liabilities, and operating lease obligations, long term on the unaudited condensed consolidated balance sheets. Finance leases are included in property and equipment, finance lease obligations, short term, and finance lease obligations, long term, on the unaudited condensed consolidated balance sheets. ROU assets represent the Company's right to use an underlying asset for the lease term, and lease liabilities represent the obligation to make scheduled lease payments. ROU assets and liabilities are recognized on the lease commencement date based on the present value of lease payments over the lease term. The present value of lease payments is calculated using the incremental borrowing rate at lease commencement, which takes into consideration recent debt issuances as well as other applicable market data available. The rates used to discount finance leases previously recorded as capital leases range from 10.2% 11.5%. 17.0%. Lease terms include options to extend when it is reasonably certain that the option will be exercised. Leases with a term of 12 not During the nine December 31, 2019 $ 790,666 $ 474,686 $ 315,980 $ 61,144 $ 22,667 $ 38,477 Discontinued operations includes $ 280,227 $ 153,977 $ 126,250 Amortization of lease assets is included in general and administrative expenses. The future minimum lease payments of lease liabilities as of December 31, 2019 Year Ending Operating March 31, Finance Leases Leases 2020 (3 months) $ 185,871 $ 17,547 2021 528,443 71,548 2022 544,296 73,939 2023 560,625 38,101 2024 577,444 3,926 Thereafter 4,375,869 - Total undiscounted lease payments 6,772,548 205,061 Less: Amount representing interest (3,072,687 ) (43,925 ) Present value of minimum lease payments 3,699,861 161,136 Less: Current maturities of lease obligations (134,239 ) (47,084 ) Long-term lease obligations $ 3,565,622 $ 114,052 |
Note 5 - Notes Payable
Note 5 - Notes Payable | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 5 6% November 30, 2018 On July 28, 2018, $1 $1.5 August 31, 2018. $0.5 6% November 30, 2018. $5,425 three December 31, 2018 In consideration for deferring the payment of the amounts due to Pacific Leaf, the Company issued 100,000 July 31, 2018 $36,000. $1.0 August 2018 $36,000 $ 1,000,000 August 2018 September 31, 2018, On December 21, 2018, $100,000 $12,164 $87,836 On December 21, 2018, 500,000 95,000 March 31, 2019 The Company made additional payments on the promissory note of $100,000 January 16, 2019, $100,000 February 6, 2019, $210,000 March 4, 2019 Because the Amendment and Termination Agreement irrevocably terminated the Pacific Leaf Royalty Agreement Royalty Agreement, the Company recorded an expense of $1,530,000 December 31, 2018 February 2018 nine December 31, 2018 $3.1 nine December 31, 2018 Amounts Recorded in Other Expense Related to Royalty Settlement For the Nine Months Ended December 31, 2018 Prepaid royalties expensed during the quarter $ 1,530,000 Promissory note issued to Pacific Leaf, due on or before November 30, 2018 500,000 600,000 shares common stock issued to Pacific Leaf 131,000 Long-term note payable and accrued interest terminated (20,075 ) Total non-cash expense 2,140,925 Cash payments made in August 2018 1,000,000 Total $ 3,140,925 0% October 23, 2017 On October 23, 2017, 100% 100% one $500,000 0% $700,000 three January 1, 2018. The present value of the note was $521,067 20.3% $178,933. nine December 31, 2019 $31,092 The Company has been in default on this note since June 2019, eight $155,555 ten 483 $369,444 10%, Line of Credit dated November 27, 2019 In connection with the Binding Letter of Intent dated November 27, 2019, $470,000 75% nine December 31, 2019 $330,000 December 31, 2019 $150,000 $480,000 $10,000. December 31, 2019 $330,000. Note payable to BCM MED, LLC On December 20, 2018, $300,000 Pursuant to the Loan Agreement, GBSLA began making eight 8 $33,333 10 th April 2019. November 15, 2019, $266,667 $33,333. 10 Summary of Notes Payable and Convertible Notes As of December 31, 2019 As of December 31, 2019 Short-Term Notes Payable Face Value Discount Carrying Value 6% Convertible promissory notes payable (Note 6) $ 1,257,000 $ (257,177 ) $ 999,823 8% Convertible Secured Promissory Note dated February 28, 2019, as amended (Note 6) 1,271,863 (584,842 ) 687,021 8% Convertible Promissory Note dated April 23, 2019 (Note 6) 2,640,000 (142,314 ) 2,497,686 0% Note Payable dated October 23, 2017, current portion 369,444 (23,753 ) 345,691 Line of Credit dated November 27, 2019 330,000 - 330,000 Note Payable to John Davis (Note 9) 151,923 - 151,923 Total Short-Term Notes Payable $ 6,020,230 $ (1,008,086 ) $ 5,012,144 |
Note 6 - Convertible Notes
Note 6 - Convertible Notes | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Convertible Debt [Text Block] | Note 6 March 2017 In March 2017, $965,500. three 3,862,000 3,862,000 one $0.60 three $416,733 $548,767 During the three June 30, 2017, $1,034,500. three 4,138,000 4,138,000 one $0.60 three $487,957 $480,236 July 2017 In July 2017, third $1,000 6% 4,000 $0.25 4,000 $0.65 three During the three September 30, 2017, $3,085,000. three 12,340,000 12,340,000 one $0.65 three $1,541,797 $1,532,335 During the three December 31, 2017, $4,116,000. three 16,464,000 16,464,000 one $0.65 three $1,600,808 $2,417,856 As of December 31, 2019 $ 999,823 $ ( 257,177 March 2017 July 2017 $ 178,381 nine December 31, 2019 $ 364,575 $ 307,752 8% Convertible Promissory Note dated February 28, 2019 On February 28, 2019, $1,500,000 8% August 28, 2020 8,823,529 $0.17 100% The intrinsic value of the beneficial conversion feature resulting from the market price of the Company’s common stock in excess of the conversion price was $176,471 nine December 31, 2019 $32,186 $61,286 On May 28, 2019, $170,000 8% February 28, 2019. 1,000,000 $0.17 17,225 $152,775. $1,330,000. On July 12, 2019, 8% $100,000 $100,000 July 12, 2019, $41,863 $0.11 We evaluated the modification under the guidance in ASC 470 50 10% $1,338,057, $133,806, $124,158. On August 1, 2019, 110,000 $0.11 1,000,000 $9,579 $100,421. 1,361,863. On October 23, 2019, October 23, 2019 $0.08 We evaluated the modification under the guidance in ASC 470 50 10% 2nd $1,269,067, $92,796, $92,796. On November 27, 2019, 8% “2nd 2nd $0.04 $30,000 We evaluated the modification under the guidance in ASC 470 50 2nd 10% 2nd no 2nd $1,361,863. On December 16, 2019, $120,000 $0.04 3,000,000 $57,551 $62,449. $1,271,863 $687,021, $584,842 During the nine December 31, 2019 $ 89,624 $ 27,270 $ 62,354 The Company is in default on the amended CSW Note due to non-payment of the quarterly interest payments due on October 1, 2019, January 1, 2020, March 31, 2018 5 ten not 75% 10 may 10%, 8% April 23, 2019 On April 23, 2019, 8% $2,765,000. $265,000 $0.17 April 22, 2020. A total discount of $440,000 $265,000 $175,000 nine December 31, 2019 $ 164,150 $ 109,870 The Company may March 31, 2018 may 5 6. not 15% 10%. As inducement for the temporary forbearance of formal default proceedings, the Company has honored the conversion of a total of a total of $125,000 October 30, 2019, $75,000 $0.06 1,250,000 $64,706, November 18, 2019, $50,000 $0.0375 1,333,333 $62,353, $ 127,059 two three nine December 31, 2019 |
Note 7 - Capital Transactions
Note 7 - Capital Transactions | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 7 Increase in Authorized Capital Effective April 8, 2018, 250,000,000 400,000,000. August 15, 2019, 400,000,000 600,000,000. Sale of Common Stock and Exercise of Warrants Stock Issued for Debt Conversions During the nine December 31, 2019 7,583,333 On May 28, 2019, $170,000 8% February 28, 2019 ( 6 1,000,000 $0.17 $17,225 $152,775. On August 1, 2019, $110,000 $0.11 1,000,000 $9,579 $100,421. $1,361,863. On December 16, 2019, $120,000 $0.04 3,000,000 $57,551 $62,449. $1,271,863 $687,021, $584,842 As inducement for the temporary forbearance of formal default proceedings, the Company has honored the conversion of a total of a total of $125,000 October 30, 2019, $75,000 $0.06 1,250,000 $64,706, November 18, 2019, $50,000 $0.0375 1,333,333 $62,353, $ 127,059 two three nine December 31, 2019 Exercise of Warrants for Stock During the nine December 31, 2019 12,574,750 In order to encourage the exercise of approximately 70.5 $0.65 $0.30, $0.10 July 11, 2019. July 12, 2019, August 30, 2019, July 31, 2019, December 31, 2019 9,449,750 $850,478, $94,498. $230,025. In order to encourage the further exercise of the same warrants, the Company effected a temporary decrease in the exercise price of the warrants to $0.04 December 2019. 3,125,000 $112,500, $12,500. 37,499 Issuance of Stock for Services During the nine December 31, 2019 2,500,000 $214,000 Issuance of Stock for Cash During the nine December 31, 2019 7,668,167 On December 4, 2018, 15,000,000 $0.20 $3 one one one $0.60 five January 15, 2019, $0.20 $0.15 20,000,000 $0.60 $0.30, no nine December 31, 2019 $478,696 $71,529 3,668,167 3,668,167 one $0.30 On October 10, 2019, 4,000,000 2,000,000 one $0.08 three $240,000 $110,000 Cancellation of Shares Issued to Consultant During the nine December 31, 2019 400,000 March 31, 2019 June 30, 2019, not December 31, 2019 Options and Warrants At the conclusion of the December 2018 December 31, 2019 1,954,613 $0.30 June 15, 2024 132,914 As of December 31, 2019, 87,526,411 $0.30 $1.00 For the nine December 31, 2019 241,242 December 31, 2019, $15,131 December 31, 2019, 10,383,334 2,383,000 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 8 On September 18, 2017 five two five The contract includes the Company’s commitment to make an annual research investments of $500,000 50% 10 $250,000 $500,000 three $750,000. September one The monetary contributions will be used to conduct research on plant varieties, compounds, extraction techniques and delivery methods that could generate additional revenue through discoveries that are subject to intellectual property rights, of which AgCenter would retain 50% 50% 25% On December 6, 2018, 2 $0.1125 $244,000 $162,667 nine December 31, 2019 $10,000 12 4 2 2 nine On June 6, 2019, December 6, 2018 $135,000 one not two million December 31, 2019 On October 1, 2019, 2 $50,000 December 1, 2019, 2 90, 180, 270 $180,000 $50,000 December 31, 2019 During the year ended March 31, 2019 $200,000 one not not September 6, 2019, From time to time, the Company may not |
Note 9 - Related Party Transact
Note 9 - Related Party Transactions | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 9 As of December 31, 2019 $324,738, $142,637 $75,747 $106,354 In connection with the sale of membership interest in GB Sciences Louisiana, LLC, the Company issued a note payable in the amount of $151,923 first 10 During the fiscal year ended March 31, 2017, one nine December 31, 2018, $1.1 During the year ended March 31, 2017, one one March 31, 2018. nine December 31, 2018, $73,904 285,412 $99,596. December 31, 2018, On November 1, 2017, 20% 25% Contemporaneously with the EPA, the Company entered into a Non-Revolving Credit Line Agreement and Non-Revolving Credit Line Promissory Note (together, the “THC Note” or “Note”) to advance up to $300,000 90 first 25% As of December 31, 2018, $253,034 October 19, 2018 October 22, 2018, The Company assessed the fair value of the machinery and equipment received at $139,411 December 31, 2018. $ 113,623 three nine December 31, 2018, |
Note 10 - Sale of 50% Membershi
Note 10 - Sale of 50% Membership Interest in GB Sciences Louisiana, LLC | 9 Months Ended |
Dec. 31, 2019 | |
GB Sciences Louisiana, LLC, Sale of Equity [Member] | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 10 50% On February 12, 2018, 15% $3 35% 5% $1 $7.0 49.99%. On November 15, 2019, 50.01% $8,000,000 may $8,000,000 The Wellcana note bears interest at a rate of 5% June 1, 2020, December 1, 2021. $1,389,408 17.0%, $6,610,592 November 15, 2019: Wellcana Note Receivable Note Payments June 1, 2020 $ 500,000 September 1, 2020 750,000 December 1, 2020 1,000,000 March 1, 2020 1,250,000 June 1, 2021 1,500,000 September 1, 2021 1,500,000 December 1, 2021 1,500,000 TOTAL PAYMENTS 8,000,000 DISCOUNT ON NOTE RECEIVABLE (1,389,408 ) NET PRESENT VALUE $ 6,610,592 The Company may $8,000,000 25% September 30, 2022, 10% 1 2 no Based on the foregoing assessment of the consideration received, the Company recorded a gain on deconsolidation of $4,502,058 As of November 15, 2019 Present value of promissory note $ 6,610,592 Carrying amount of non-controlling interest 8,707,651 TOTAL 15,318,243 Carrying amount of assets 14,715,798 Carrying amount of liabilities (3,899,613 ) Net assets deconsolidated 10,816,185 GAIN ON DECONSOLIDATION $ 4,502,058 For all periods presented in the unaudited financial statements, the assets, liabilities, income, and cash flows of GBSLA have been reclassified to discontinued operations. The losses and cash flows from discontinued operations for the three nine December 31, 2019 November 15, 2019. |
Note 11 - Sale of Membership In
Note 11 - Sale of Membership Interests in Nevada Subsidiaries | 9 Months Ended |
Dec. 31, 2019 | |
Nevada Subsidiaries [Member] | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 11 The Company operates cannabis cultivation and extraction facilities located at 3550 89118. two On November 27, 2019, 75% $3,000,000 $3,000,000 may In connection with the Teco LOI, on December 6, 2019, $75,000 no In connection with the Teco LOI, the Company also entered into a Line of Credit of up to $470,000 5 8% 6 The Company also holds a Nevada license for cultivation of medical marijuana located in Sandy Valley, Nevada (the “Nopah License”). The license is owned by the Company’s wholly owned subsidiary, GB Sciences Nopah, LLC ("Nopah"). Operations have not November 27, 2019, 100% $300,000. |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 9 Months Ended |
Dec. 31, 2019 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 12 Capital Transactions Subsequent to December 31, 2019 2,214,000 $0.04 7 $79,704, $8,856. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2019 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying unaudited interim condensed consolidated financial statements of GB Sciences, Inc. (the “Company,” “We” or “Us”) have been prepared in accordance with U.S. generally accepted accounting principles (“U.S. GAAP”) for interim financial information and with the instructions to Form 10 8 X. not not may March 31, 2020. March 31, 2019 not 10 March 31, 2019 |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation We prepare our consolidated financial statements in accordance with generally accepted accounting principles (GAAP) for the United States of America. Our consolidated financial statements include all operating divisions and majority-owned subsidiaries, reported as a single operating segment, for which we maintain controlling interests. Intercompany accounts and transactions have been eliminated in consolidation. The ownership interest of non-controlling participants in subsidiaries that are not |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. The Company regularly evaluates estimates and assumptions related to allowances for doubtful accounts, inventory valuation, valuation of initial right-of-use assets and corresponding lease liabilities, valuation of beneficial conversion features in convertible debt, valuation of the assets and liabilities of discontinued operations, stock-based compensation expense, purchased intangible asset valuations, deferred income tax asset valuation allowances, uncertain tax positions, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of costs and expenses that are not may |
Reclassification, Policy [Policy Text Block] | Reclassifications Certain reclassifications have been made to the comparative period amounts in order to conform to the current period presentation. The current and long-term capital lease obligations recorded in the consolidated balance sheet as of March 31, 2019 10 no |
Discontinued Operations, Policy [Policy Text Block] | Discontinued Operations Discontinued operations comprise those activities that were disposed of during the period or which were classified as held for sale at the end of the period and represent a separate major line of business or geographical area that can be clearly distinguished for operational and financial reporting purposes. The assets and liabilities associated with discontinued operations included in our condensed consolidated balance sheets are as follows: December 31, 2019 March 31, 2019 Continuing Discontinued Total Continuing Discontinued Total ASSETS CURRENT ASSETS Cash $ 37,300 $ - $ 37,300 $ 182,055 $ 45,703 $ 227,758 Accounts receivable, net 80,436 - 80,436 488,329 - 488,329 Inventory, net 1,560,048 - 1,560,048 1,533,792 602,714 2,136,506 Prepaid and other current assets 83,240 - 83,240 262,208 351,970 614,178 Note receivable 1,365,042 - 1,365,042 - - - TOTAL CURRENT ASSETS 3,126,066 - 3,126,066 2,466,384 1,000,387 3,466,771 Property and equipment, net 10,097,430 - 10,097,430 10,481,706 13,022,996 23,504,702 Intangible assets, net 2,073,839 - 2,073,839 1,818,802 - 1,818,802 Note receivable 5,366,133 - 5,366,133 - - - Deposits and other noncurrent assets 95,504 - 95,504 230,651 1,002,376 1,233,027 Operating lease right-of-use assets, net 144,146 - 144,146 - - - TOTAL ASSETS $ 20,903,118 $ - $ 20,903,118 $ 14,997,543 $ 15,025,759 $ 30,023,302 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,998,994 $ - $ 1,998,994 $ 1,374,771 $ 1,695,985 $ 3,070,756 Accrued interest 429,064 - 429,064 142,112 - 142,112 Accrued expenses 469,053 - 469,053 244,931 76,415 321,346 Notes payable, net 4,860,221 - 4,860,221 2,229,812 300,000 2,529,812 Indebtedness to related parties 476,661 - 476,661 - - - Income tax payable 506,145 - 506,145 506,145 - 506,145 Operating lease obligations, current 47,084 - 47,084 - - - Finance lease obligations, current 134,239 - 134,239 80,132 61,877 142,009 TOTAL CURRENT LIABILITIES 8,921,461 - 8,921,461 4,577,903 2,134,277 6,712,180 Note payable, net - - - 161,072 161,072 Operating lease obligations, long term 114,052 - 114,052 - - Finance lease obligations, long term 3,565,622 - 3,565,622 3,646,540 2,347,511 5,994,051 TOTAL LIABILITIES $ 12,601,135 $ - $ 12,601,135 $ 8,385,515 $ 4,481,788 $ 12,867,303 The revenues and expenses associated with discontinued operations included in our condensed consolidated statements of operations were as follows: For the Three Months Ended December 31, 2019 2018 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ 254,131 $ 192,070 $ 446,201 $ 695,764 $ - $ 695,764 Cost of goods sold (675,933 ) (193,915 ) (869,848 ) (302,569 ) - (302,569 ) Gross profit (loss) (421,802 ) (1,845 ) (423,647 ) 393,195 - 393,195 General and administrative expenses 1,744,699 666,042 2,410,741 2,456,411 526,210 2,982,621 LOSS FROM OPERATIONS (2,166,501 ) (667,887 ) (2,834,388 ) (2,063,216 ) (526,210 ) (2,589,426 ) OTHER INCOME/(EXPENSE) Interest expense (419,264 ) (52,769 ) (472,033 ) (258,522 ) (62,627 ) (321,149 ) Other income/(expense) (118,695 ) - (118,695 ) (402,504 ) (402,504 ) Loss on extinguishment (92,795 ) - (92,795 ) - - - Gain on deconsolidation of subsidiary 4,502,058 - 4,502,058 - - - Total other expense 3,871,304 (52,769 ) 3,818,535 (661,026 ) (62,627 ) (723,653 ) NET LOSS BEFORE INCOME TAXES 1,704,803 (720,656 ) 984,147 (2,724,242 ) (588,837 ) (3,313,079 ) Income tax expense - - - (737,568 ) - (737,568 ) NET LOSS $ 1,704,803 $ (720,656 ) $ 984,147 $ (3,461,810 ) $ (588,837 ) $ (4,050,647 ) For the Nine Months Ended December 31, 2019 2018 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ 2,336,505 $ 569,077 $ 2,905,582 $ 2,728,277 $ - $ 2,728,277 Cost of goods sold (3,157,452 ) (574,544 ) (3,731,996 ) (1,185,878 ) - (1,185,878 ) Gross profit (loss) (820,947 ) (5,467 ) (826,414 ) 1,542,399 - 1,542,399 General and administrative expenses 5,213,561 1,292,613 6,506,174 10,079,767 1,935,766 12,015,533 LOSS FROM OPERATIONS (6,034,508 ) (1,298,080 ) (7,332,588 ) (8,537,368 ) (1,935,766 ) (10,473,134 ) OTHER INCOME/(EXPENSE) Interest expense (1,332,637 ) (178,140 ) (1,510,777 ) (4,681,235 ) (188,947 ) (4,870,182 ) Other income/(expense) 74,920 - 74,920 (3,352,311 ) - (3,352,311 ) Loss on extinguishment (216,954 ) - (216,954 ) - - - Gain on deconsolidation of subsidiary 4,502,058 - 4,502,058 - - - Total other expense 3,027,387 (178,140 ) 2,849,247 (8,033,546 ) (188,947 ) (8,222,493 ) NET LOSS BEFORE INCOME TAXES (3,007,121 ) (1,476,220 ) (4,483,341 ) (16,570,914 ) (2,124,713 ) (18,695,627 ) Income tax expense - - - (737,568 ) - (737,568 ) NET LOSS $ (3,007,121 ) $ (1,476,220 ) $ (4,483,341 ) $ (17,308,482 ) $ (2,124,713 ) $ (19,433,195 ) |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived Assets Property and equipment comprise a significant portion of our total assets. We evaluate the carrying value of property and equipment if impairment indicators are present or if other circumstances indicate that impairment may March 31. may not No March 31, 2019 |
Inventory, Policy [Policy Text Block] | Inventory We value our inventory at the lower of the actual cost of our inventory, as determined using the first first |
Debt, Policy [Policy Text Block] | Beneficial Conversion Feature of Convertible Notes Payable The Company accounts for convertible notes payable in accordance with the guidelines established by the Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) Topic 470 20, 00 27, No. 98 5 first 718 The value of the proceeds received from a convertible note is then allocated between the conversion features and warrants on a relative fair value basis. The allocated fair value is recorded in the financial statements as a debt discount (premium) from the face amount of the note and such discount is amortized over the expected term of the convertible note (or to the conversion date of the note, if sooner) and is charged to interest expense. |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition The FASB issued Accounting Standards Codification (“ASC”) 606 two April 1, 2018 The Company’s only current revenue source is from sales of cannabis, a distinct physical good. Under ASC 606, may may one 606 not |
Earnings Per Share, Policy [Policy Text Block] | Earnings/(loss) per Share The Company’s basic loss per share has been calculated using the weighted average number of common shares outstanding during the period. The Company had 158,728,095 108,999,521 December 31, 2019 2018 nine December 31, 2019 three nine December 31, 2018, not three December 31, 2019, For the Three Months Ended December 31, 2019 Diluted EPS Computation Income (Numerator) Shares (Denominator) Per-Share Amount Net income from continuing operations available to common stockholders $ 1,704,803 Plus: Income impact of assumed conversions Interest expense on convertible notes payable 51,608 Effect of assumed conversions 51,608 Income from continuing operations plus assumed conversions 1,756,411 Net loss from discontinued operations available to common stockholders (360,329 ) Net income available to common stockholders $ 1,396,082 Weighted-average common shares outstanding 263,055,254 Plus: incremental shares from assumed conversions Warrants 26,648,530 Convertible notes payable 36,086,770 Dilutive potential common shares 62,735,300 Adjusted weighted-average shares 325,790,554 Diluted EPS Net income from continuing operations $ 1,756,411 325,790,554 $ 0.01 Net loss from discontinued operations $ (360,329 ) 325,790,554 $ (0.00 ) Net loss $ 1,396,082 325,790,554 $ 0.00 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Recently Adopted Standards In February 2016, 2016 02, 842 Lease payments include fixed payments, variable payments based on an index or rate, reasonably certain purchase options, termination penalties, and others as required by the standard. Lease payments do not December 15, 2018 April 1, 2019. not The Company adopted the New Lease Standard using the modified retrospective transition approach as of the effective date as permitted by the amendments in ASU 2018 11, 842 not April 1, 2019. The Company's consolidated balance sheet was affected by this standard, but the consolidated statement of operations and consolidated statement of cash flows were not April 1, 2019 $182,624, $190,173 In June 2018, 2018 07, 718 2018 07” No 2018 07 718 718 December 15, 2018, April 1, 2019. no All other newly issued accounting pronouncements but not not |
Note 1 - Background and Signi_2
Note 1 - Background and Significant Accounting Policies (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | Discontinued Operations – (continued) December 31, 2019 March 31, 2019 Continuing Discontinued Total Continuing Discontinued Total ASSETS CURRENT ASSETS Cash $ 37,300 $ - $ 37,300 $ 182,055 $ 45,703 $ 227,758 Accounts receivable, net 80,436 - 80,436 488,329 - 488,329 Inventory, net 1,560,048 - 1,560,048 1,533,792 602,714 2,136,506 Prepaid and other current assets 83,240 - 83,240 262,208 351,970 614,178 Note receivable 1,365,042 - 1,365,042 - - - TOTAL CURRENT ASSETS 3,126,066 - 3,126,066 2,466,384 1,000,387 3,466,771 Property and equipment, net 10,097,430 - 10,097,430 10,481,706 13,022,996 23,504,702 Intangible assets, net 2,073,839 - 2,073,839 1,818,802 - 1,818,802 Note receivable 5,366,133 - 5,366,133 - - - Deposits and other noncurrent assets 95,504 - 95,504 230,651 1,002,376 1,233,027 Operating lease right-of-use assets, net 144,146 - 144,146 - - - TOTAL ASSETS $ 20,903,118 $ - $ 20,903,118 $ 14,997,543 $ 15,025,759 $ 30,023,302 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,998,994 $ - $ 1,998,994 $ 1,374,771 $ 1,695,985 $ 3,070,756 Accrued interest 429,064 - 429,064 142,112 - 142,112 Accrued expenses 469,053 - 469,053 244,931 76,415 321,346 Notes payable, net 4,860,221 - 4,860,221 2,229,812 300,000 2,529,812 Indebtedness to related parties 476,661 - 476,661 - - - Income tax payable 506,145 - 506,145 506,145 - 506,145 Operating lease obligations, current 47,084 - 47,084 - - - Finance lease obligations, current 134,239 - 134,239 80,132 61,877 142,009 TOTAL CURRENT LIABILITIES 8,921,461 - 8,921,461 4,577,903 2,134,277 6,712,180 Note payable, net - - - 161,072 161,072 Operating lease obligations, long term 114,052 - 114,052 - - Finance lease obligations, long term 3,565,622 - 3,565,622 3,646,540 2,347,511 5,994,051 TOTAL LIABILITIES $ 12,601,135 $ - $ 12,601,135 $ 8,385,515 $ 4,481,788 $ 12,867,303 For the Three Months Ended December 31, 2019 2018 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ 254,131 $ 192,070 $ 446,201 $ 695,764 $ - $ 695,764 Cost of goods sold (675,933 ) (193,915 ) (869,848 ) (302,569 ) - (302,569 ) Gross profit (loss) (421,802 ) (1,845 ) (423,647 ) 393,195 - 393,195 General and administrative expenses 1,744,699 666,042 2,410,741 2,456,411 526,210 2,982,621 LOSS FROM OPERATIONS (2,166,501 ) (667,887 ) (2,834,388 ) (2,063,216 ) (526,210 ) (2,589,426 ) OTHER INCOME/(EXPENSE) Interest expense (419,264 ) (52,769 ) (472,033 ) (258,522 ) (62,627 ) (321,149 ) Other income/(expense) (118,695 ) - (118,695 ) (402,504 ) (402,504 ) Loss on extinguishment (92,795 ) - (92,795 ) - - - Gain on deconsolidation of subsidiary 4,502,058 - 4,502,058 - - - Total other expense 3,871,304 (52,769 ) 3,818,535 (661,026 ) (62,627 ) (723,653 ) NET LOSS BEFORE INCOME TAXES 1,704,803 (720,656 ) 984,147 (2,724,242 ) (588,837 ) (3,313,079 ) Income tax expense - - - (737,568 ) - (737,568 ) NET INCOME/(LOSS) $ 1,704,803 $ (720,656 ) $ 984,147 $ (3,461,810 ) $ (588,837 ) $ (4,050,647 ) For the Nine Months Ended December 31, 2019 2018 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ 2,336,505 $ 569,077 $ 2,905,582 $ 2,728,277 $ - $ 2,728,277 Cost of goods sold (3,157,452 ) (574,544 ) (3,731,996 ) (1,185,878 ) - (1,185,878 ) Gross profit (loss) (820,947 ) (5,467 ) (826,414 ) 1,542,399 - 1,542,399 General and administrative expenses 5,213,561 1,292,613 6,506,174 10,079,767 1,935,766 12,015,533 LOSS FROM OPERATIONS (6,034,508 ) (1,298,080 ) (7,332,588 ) (8,537,368 ) (1,935,766 ) (10,473,134 ) OTHER INCOME/(EXPENSE) Interest expense (1,332,637 ) (178,140 ) (1,510,777 ) (4,681,235 ) (188,947 ) (4,870,182 ) Other income/(expense) 74,920 - 74,920 (3,352,311 ) - (3,352,311 ) Loss on extinguishment (216,954 ) - (216,954 ) - - - Gain on deconsolidation of subsidiary 4,502,058 - 4,502,058 - - - Total other expense 3,027,387 (178,140 ) 2,849,247 (8,033,546 ) (188,947 ) (8,222,493 ) NET LOSS BEFORE INCOME TAXES (3,007,121 ) (1,476,220 ) (4,483,341 ) (16,570,914 ) (2,124,713 ) (18,695,627 ) Income tax expense - - - (737,568 ) - (737,568 ) NET LOSS $ (3,007,121 ) $ (1,476,220 ) $ (4,483,341 ) $ (17,308,482 ) $ (2,124,713 ) $ (19,433,195 ) |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | For the Three Months Ended December 31, 2019 Diluted EPS Computation Income (Numerator) Shares (Denominator) Per-Share Amount Net income from continuing operations available to common stockholders $ 1,704,803 Plus: Income impact of assumed conversions Interest expense on convertible notes payable 51,608 Effect of assumed conversions 51,608 Income from continuing operations plus assumed conversions 1,756,411 Net loss from discontinued operations available to common stockholders (360,329 ) Net income available to common stockholders $ 1,396,082 Weighted-average common shares outstanding 263,055,254 Plus: incremental shares from assumed conversions Warrants 26,648,530 Convertible notes payable 36,086,770 Dilutive potential common shares 62,735,300 Adjusted weighted-average shares 325,790,554 Diluted EPS Net income from continuing operations $ 1,756,411 325,790,554 $ 0.01 Net loss from discontinued operations $ (360,329 ) 325,790,554 $ (0.00 ) Net loss $ 1,396,082 325,790,554 $ 0.00 |
Note 3 - Inventory (Tables)
Note 3 - Inventory (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2019 March 31, 2019 Raw materials $ 299,740 $ 440,414 Work in progress 1,495,301 676,341 Finished goods 257,995 579,604 Allowance to reduce inventory to NRV (492,988 ) (162,567 ) Total inventory $ 1,560,048 $ 1,533,792 |
Note 4 - Leases (Tables)
Note 4 - Leases (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Operating and Finance Lease Liabilities, Maturity [Table Text Block] | Year Ending Operating March 31, Finance Leases Leases 2020 (3 months) $ 185,871 $ 17,547 2021 528,443 71,548 2022 544,296 73,939 2023 560,625 38,101 2024 577,444 3,926 Thereafter 4,375,869 - Total undiscounted lease payments 6,772,548 205,061 Less: Amount representing interest (3,072,687 ) (43,925 ) Present value of minimum lease payments 3,699,861 161,136 Less: Current maturities of lease obligations (134,239 ) (47,084 ) Long-term lease obligations $ 3,565,622 $ 114,052 |
Note 5 - Notes Payable (Tables)
Note 5 - Notes Payable (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Amounts Recorded in Other Expense [Table Text Block] | Amounts Recorded in Other Expense Related to Royalty Settlement For the Nine Months Ended December 31, 2018 Prepaid royalties expensed during the quarter $ 1,530,000 Promissory note issued to Pacific Leaf, due on or before November 30, 2018 500,000 600,000 shares common stock issued to Pacific Leaf 131,000 Long-term note payable and accrued interest terminated (20,075 ) Total non-cash expense 2,140,925 Cash payments made in August 2018 1,000,000 Total $ 3,140,925 |
Schedule of Debt [Table Text Block] | As of December 31, 2019 Short-Term Notes Payable Face Value Discount Carrying Value 6% Convertible promissory notes payable (Note 6) $ 1,257,000 $ (257,177 ) $ 999,823 8% Convertible Secured Promissory Note dated February 28, 2019, as amended (Note 6) 1,271,863 (584,842 ) 687,021 8% Convertible Promissory Note dated April 23, 2019 (Note 6) 2,640,000 (142,314 ) 2,497,686 0% Note Payable dated October 23, 2017, current portion 369,444 (23,753 ) 345,691 Line of Credit dated November 27, 2019 330,000 - 330,000 Note Payable to John Davis (Note 9) 151,923 - 151,923 Total Short-Term Notes Payable $ 6,020,230 $ (1,008,086 ) $ 5,012,144 |
Note 10 - Sale of 50% Members_2
Note 10 - Sale of 50% Membership Interest in GB Sciences Louisiana, LLC (Tables) | 9 Months Ended |
Dec. 31, 2019 | |
Notes Tables | |
Schedule of Note Receivable with Imputed Interest [Table Text Block] | Wellcana Note Receivable Note Payments June 1, 2020 $ 500,000 September 1, 2020 750,000 December 1, 2020 1,000,000 March 1, 2020 1,250,000 June 1, 2021 1,500,000 September 1, 2021 1,500,000 December 1, 2021 1,500,000 TOTAL PAYMENTS 8,000,000 DISCOUNT ON NOTE RECEIVABLE (1,389,408 ) NET PRESENT VALUE $ 6,610,592 |
Schedule of Deconsolidation [Table Text Block] | As of November 15, 2019 Present value of promissory note $ 6,610,592 Carrying amount of non-controlling interest 8,707,651 TOTAL 15,318,243 Carrying amount of assets 14,715,798 Carrying amount of liabilities (3,899,613 ) Net assets deconsolidated 10,816,185 GAIN ON DECONSOLIDATION $ 4,502,058 |
Note 1 - Background and Signi_3
Note 1 - Background and Significant Accounting Policies (Details Textual) - USD ($) | Nov. 15, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | Nov. 30, 2019 | Apr. 01, 2019 |
Impairment of Long-Lived Assets Held-for-use | $ 0 | |||||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 158,728,095 | 108,999,521 | ||||
Operating Lease, Right-of-Use Asset | $ 144,146 | |||||
Operating Lease, Liability, Total | $ 161,136 | |||||
Accounting Standards Update 2016-02 [Member] | ||||||
Operating Lease, Right-of-Use Asset | $ 182,624 | |||||
Operating Lease, Liability, Total | $ 190,173 | |||||
GB Sciences Louisiana, LLC [Member] | ||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 8,000,000 | |||||
Earnout Payments | $ 8,000,000 | $ 8,000,000 | ||||
GB Sciences, Nevada, LLC and GB Sciences Las Vegas, LLC [Member] | ||||||
Sale of Stock, Percentage of Ownership | 75.00% | |||||
Sale of Stock, Consideration Received on Transaction | $ 3,000,000 | |||||
Sale of Stock, Additional Earn-out Payments | $ 3,000,000 | |||||
GB Sciences, Nevada, LLC and GB Sciences Las Vegas, LLC [Member] | ||||||
Controlling Interest, Ownership Percentage by Parent | 100.00% |
Note 1 - Background and Signi_4
Note 1 - Background and Significant Accounting Policies - Discontinued Operations (Details) - USD ($) | Nov. 15, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD FROM CONTINUING OPERATIONS | $ 37,300 | $ 87,772 | $ 37,300 | $ 87,772 | $ 182,055 | |
Accounts receivable, net of allowance for doubtful accounts of $91,536 and $66,748 at December 31, 2019 and March 31, 2019, respectively | 80,436 | 80,436 | 488,329 | |||
Inventory, net | 1,560,048 | 1,560,048 | 1,533,792 | |||
Prepaid expenses and other current assets | 83,240 | 83,240 | 262,208 | |||
Note receivable | 1,365,042 | 1,365,042 | ||||
TOTAL CURRENT ASSETS | 3,126,066 | 3,126,066 | 3,466,771 | |||
Property and equipment, net | 10,097,430 | 10,097,430 | 10,481,706 | |||
Intangible assets, net of accumulated amortization of $3,745 at December 31, 2019 and March 31, 2019 | 2,073,839 | 2,073,839 | 1,818,802 | |||
Note receivable | 5,366,133 | 5,366,133 | ||||
Deposits and other noncurrent assets | 95,504 | 95,504 | 230,651 | |||
Operating lease right-of-use assets, net | 144,146 | 144,146 | ||||
TOTAL ASSETS | 20,903,118 | 20,903,118 | 30,023,302 | |||
Accounts payable | 1,998,994 | 1,998,994 | 1,374,771 | |||
Accrued interest | 429,064 | 429,064 | 142,112 | |||
Accrued liabilities | 469,053 | 469,053 | 244,931 | |||
Notes and convertible notes payable, net of unamortized discount of $1,008,086 and $799,410 at December 31, 2019 and March 31, 2019, respectively | 4,860,221 | 4,860,221 | 2,229,812 | |||
Indebtedness to related parties | 324,738 | 324,738 | ||||
Income tax payable | 506,145 | 506,145 | 506,145 | |||
Operating lease obligations, current | 47,084 | 47,084 | ||||
Finance lease obligations, current | 134,239 | 134,239 | 80,132 | |||
TOTAL CURRENT LIABILITIES | 8,921,461 | 8,921,461 | 6,712,180 | |||
Note payable, net of unamortized discount of $0 and $13,929 at December 31, 2019 and March 31, 2019, respectively | 161,072 | |||||
Operating lease obligations, long term | 114,052 | 114,052 | ||||
Finance lease obligations, long term | 3,565,622 | 3,565,622 | 3,646,540 | |||
TOTAL LIABILITIES | 12,601,135 | 12,601,135 | 12,867,303 | |||
Sales revenue | 254,131 | 695,764 | 2,336,505 | 2,728,277 | ||
Cost of goods sold | (675,933) | (302,569) | (3,157,452) | (1,185,878) | ||
Gross profit (loss) | (421,802) | 393,195 | (820,947) | 1,542,399 | ||
General and administrative expenses | 1,744,699 | 2,456,411 | 5,213,561 | 10,079,767 | ||
LOSS FROM OPERATIONS | (2,166,501) | (2,063,216) | (6,034,508) | (8,537,368) | ||
Interest expense, net | (419,264) | (258,522) | (1,332,637) | (4,681,235) | ||
Loss on extinguishment | (92,795) | (216,954) | ||||
Gain on deconsolidation of subsidiary | $ 4,502,058 | 4,502,058 | 4,502,058 | |||
Total other expense | 3,871,304 | (661,026) | 3,027,387 | (8,033,546) | ||
NET LOSS BEFORE INCOME TAXES | 1,704,803 | (2,724,242) | (3,007,121) | (16,570,914) | ||
Income tax expense | (737,568) | (737,568) | ||||
Net loss | 984,147 | (4,050,647) | (4,483,341) | (19,433,195) | ||
Continuing Operations [Member] | ||||||
CASH AND CASH EQUIVALENTS AT END OF PERIOD FROM CONTINUING OPERATIONS | 37,300 | 37,300 | 182,055 | |||
Accounts receivable, net of allowance for doubtful accounts of $91,536 and $66,748 at December 31, 2019 and March 31, 2019, respectively | 80,436 | 80,436 | 488,329 | |||
Inventory, net | 1,560,048 | 1,560,048 | 1,533,792 | |||
Prepaid expenses and other current assets | 83,240 | 83,240 | 262,208 | |||
Note receivable | 1,365,042 | 1,365,042 | ||||
TOTAL CURRENT ASSETS | 3,126,066 | 3,126,066 | 2,466,384 | |||
Property and equipment, net | 10,097,430 | 10,097,430 | 10,481,706 | |||
Intangible assets, net of accumulated amortization of $3,745 at December 31, 2019 and March 31, 2019 | 2,073,839 | 2,073,839 | 1,818,802 | |||
Note receivable | 5,366,133 | 5,366,133 | ||||
Deposits and other noncurrent assets | 95,504 | 95,504 | 230,651 | |||
Operating lease right-of-use assets, net | 144,146 | 144,146 | ||||
TOTAL ASSETS | 20,903,118 | 20,903,118 | 14,997,543 | |||
Accounts payable | 1,998,994 | 1,998,994 | 1,374,771 | |||
Accrued interest | 429,064 | 429,064 | 142,112 | |||
Accrued liabilities | 469,053 | 469,053 | 244,931 | |||
Notes and convertible notes payable, net of unamortized discount of $1,008,086 and $799,410 at December 31, 2019 and March 31, 2019, respectively | 4,860,221 | 4,860,221 | 2,229,812 | |||
Indebtedness to related parties | 476,661 | 476,661 | ||||
Income tax payable | 506,145 | 506,145 | 506,145 | |||
Operating lease obligations, current | 47,084 | 47,084 | ||||
Finance lease obligations, current | 134,239 | 134,239 | 80,132 | |||
TOTAL CURRENT LIABILITIES | 8,921,461 | 8,921,461 | 4,577,903 | |||
Note payable, net of unamortized discount of $0 and $13,929 at December 31, 2019 and March 31, 2019, respectively | 161,072 | |||||
Operating lease obligations, long term | 114,052 | 114,052 | ||||
Finance lease obligations, long term | 3,565,622 | 3,565,622 | 3,646,540 | |||
TOTAL LIABILITIES | 12,601,135 | 12,601,135 | 8,385,515 | |||
Sales revenue | 254,131 | 695,764 | 2,336,505 | 2,728,277 | ||
Cost of goods sold | (675,933) | (302,569) | (3,157,452) | (1,185,878) | ||
Gross profit (loss) | (421,802) | 393,195 | (820,947) | 1,542,399 | ||
General and administrative expenses | 1,744,699 | 2,456,411 | 5,213,561 | 10,079,767 | ||
LOSS FROM OPERATIONS | (2,166,501) | (2,063,216) | (6,034,508) | (8,537,368) | ||
Interest expense, net | (419,264) | (258,522) | (1,332,637) | (4,681,235) | ||
Other income/(expense) | (118,695) | (402,504) | 74,920 | (3,352,311) | ||
Loss on extinguishment | (92,795) | (216,954) | ||||
Gain on deconsolidation of subsidiary | 4,502,058 | 4,502,058 | ||||
Total other expense | 3,871,304 | (661,026) | 3,027,387 | (8,033,546) | ||
NET LOSS BEFORE INCOME TAXES | 1,704,803 | (2,724,242) | (3,007,121) | (16,570,914) | ||
Income tax expense | (737,568) | (737,568) | ||||
Net loss | 1,704,803 | (3,461,810) | (3,007,121) | (17,308,482) | ||
Discontinued Operations [Member] | ||||||
CASH AND CASH EQUIVALENTS AT END OF PERIOD FROM CONTINUING OPERATIONS | 45,703 | |||||
Accounts receivable, net of allowance for doubtful accounts of $91,536 and $66,748 at December 31, 2019 and March 31, 2019, respectively | ||||||
Inventory, net | 602,714 | |||||
Prepaid expenses and other current assets | 351,970 | |||||
Note receivable | ||||||
TOTAL CURRENT ASSETS | 1,000,387 | |||||
Property and equipment, net | 13,022,996 | |||||
Intangible assets, net of accumulated amortization of $3,745 at December 31, 2019 and March 31, 2019 | ||||||
Note receivable | ||||||
Deposits and other noncurrent assets | 1,002,376 | |||||
Operating lease right-of-use assets, net | ||||||
TOTAL ASSETS | 15,025,759 | |||||
Accounts payable | 1,695,985 | |||||
Accrued interest | ||||||
Accrued liabilities | 76,415 | |||||
Notes and convertible notes payable, net of unamortized discount of $1,008,086 and $799,410 at December 31, 2019 and March 31, 2019, respectively | 300,000 | |||||
Indebtedness to related parties | ||||||
Income tax payable | ||||||
Operating lease obligations, current | ||||||
Finance lease obligations, current | 61,877 | |||||
TOTAL CURRENT LIABILITIES | 2,134,277 | |||||
Note payable, net of unamortized discount of $0 and $13,929 at December 31, 2019 and March 31, 2019, respectively | ||||||
Operating lease obligations, long term | ||||||
Finance lease obligations, long term | 2,347,511 | |||||
TOTAL LIABILITIES | 4,481,788 | |||||
Sales revenue | 192,070 | 569,077 | ||||
Cost of goods sold | (193,915) | (574,544) | ||||
Gross profit (loss) | (1,845) | (5,467) | ||||
General and administrative expenses | 666,042 | 526,210 | 1,292,613 | 1,935,766 | ||
LOSS FROM OPERATIONS | (667,887) | (526,210) | (1,298,080) | (1,935,766) | ||
Interest expense, net | (52,769) | (62,627) | (178,140) | (188,947) | ||
Other income/(expense) | ||||||
Loss on extinguishment | ||||||
Gain on deconsolidation of subsidiary | ||||||
Total other expense | (52,769) | (62,627) | (178,140) | (188,947) | ||
NET LOSS BEFORE INCOME TAXES | (720,656) | (588,837) | (1,476,220) | (2,124,713) | ||
Income tax expense | ||||||
Net loss | (720,656) | (588,837) | (1,476,220) | (2,124,713) | ||
Segment, Continuing and Discontinued Operations [Member] | ||||||
CASH AND CASH EQUIVALENTS AT END OF PERIOD FROM CONTINUING OPERATIONS | 37,300 | 37,300 | 227,758 | |||
Accounts receivable, net of allowance for doubtful accounts of $91,536 and $66,748 at December 31, 2019 and March 31, 2019, respectively | 80,436 | 80,436 | 488,329 | |||
Inventory, net | 1,560,048 | 1,560,048 | 2,136,506 | |||
Prepaid expenses and other current assets | 83,240 | 83,240 | 614,178 | |||
Note receivable | 1,365,042 | 1,365,042 | ||||
TOTAL CURRENT ASSETS | 3,126,066 | 3,126,066 | 3,466,771 | |||
Property and equipment, net | 10,097,430 | 10,097,430 | 23,504,702 | |||
Intangible assets, net of accumulated amortization of $3,745 at December 31, 2019 and March 31, 2019 | 2,073,839 | 2,073,839 | 1,818,802 | |||
Note receivable | 5,366,133 | 5,366,133 | ||||
Deposits and other noncurrent assets | 95,504 | 95,504 | 1,233,027 | |||
Operating lease right-of-use assets, net | 144,146 | 144,146 | ||||
TOTAL ASSETS | 20,903,118 | 20,903,118 | 30,023,302 | |||
Accounts payable | 1,998,994 | 1,998,994 | 3,070,756 | |||
Accrued interest | 429,064 | 429,064 | 142,112 | |||
Accrued liabilities | 469,053 | 469,053 | 321,346 | |||
Notes and convertible notes payable, net of unamortized discount of $1,008,086 and $799,410 at December 31, 2019 and March 31, 2019, respectively | 4,860,221 | 4,860,221 | 2,529,812 | |||
Indebtedness to related parties | 476,661 | 476,661 | ||||
Income tax payable | 506,145 | 506,145 | 506,145 | |||
Operating lease obligations, current | 47,084 | 47,084 | ||||
Finance lease obligations, current | 134,239 | 134,239 | 142,009 | |||
TOTAL CURRENT LIABILITIES | 8,921,461 | 8,921,461 | 6,712,180 | |||
Note payable, net of unamortized discount of $0 and $13,929 at December 31, 2019 and March 31, 2019, respectively | 161,072 | |||||
Operating lease obligations, long term | 114,052 | 114,052 | ||||
Finance lease obligations, long term | 3,565,622 | 3,565,622 | 5,994,051 | |||
TOTAL LIABILITIES | 12,601,135 | 12,601,135 | $ 12,867,303 | |||
Sales revenue | 446,201 | 695,764 | 2,905,582 | 2,728,277 | ||
Cost of goods sold | (869,848) | (302,569) | (3,731,996) | (1,185,878) | ||
Gross profit (loss) | (423,647) | 393,195 | (826,414) | 1,542,399 | ||
General and administrative expenses | 2,410,741 | 2,982,621 | 6,506,174 | 12,015,533 | ||
LOSS FROM OPERATIONS | (2,834,388) | (2,589,426) | (7,332,588) | (10,473,134) | ||
Interest expense, net | (472,033) | (321,149) | (1,510,777) | (4,870,182) | ||
Other income/(expense) | (118,695) | (402,504) | 74,920 | (3,352,311) | ||
Loss on extinguishment | (92,795) | (216,954) | ||||
Gain on deconsolidation of subsidiary | 4,502,058 | 4,502,058 | ||||
Total other expense | 3,818,535 | (723,653) | 2,849,247 | (8,222,493) | ||
NET LOSS BEFORE INCOME TAXES | 984,147 | (3,313,079) | (4,483,341) | (18,695,627) | ||
Income tax expense | (737,568) | (737,568) | ||||
Net loss | $ 984,147 | $ (4,050,647) | $ (4,483,341) | $ (19,433,195) |
Note 1 - Background and Signi_5
Note 1 - Background and Significant Accounting Policies - Earnings (Loss) Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | |
Net income from continuing operations available to common stockholders | $ 1,704,803 | $ (3,461,810) | $ (3,007,121) | $ (17,308,482) |
Interest expense on convertible notes payable | 51,608 | |||
Effect of assumed conversions | 51,608 | |||
Income from continuing operations plus assumed conversions | 1,756,411 | (3,461,810) | (3,007,121) | (17,308,482) |
Net loss from discontinued operations available to common stockholders | (360,329) | (301,431) | (738,113) | (1,361,747) |
Net income available to common stockholders | $ 1,396,082 | $ (3,763,241) | $ (3,745,234) | $ (18,670,229) |
Weighted-average common shares outstanding (in shares) | 263,055,254 | 222,856,453 | 253,297,660 | 200,971,724 |
Warrants (in shares) | 26,648,530 | |||
Convertible notes payable (in shares) | 36,086,770 | |||
Dilutive potential common shares (in shares) | 62,735,300 | |||
Adjusted weighted-average shares (in shares) | 325,790,554 | 222,856,453 | 253,297,660 | 200,971,724 |
Net income from continuing operations per common share diluted (in dollars per share) | $ 0.01 | $ (0.02) | $ (0.01) | $ (0.08) |
Net loss from discontinued operations per common share diluted (in dollars per share) | (0.01) | |||
Net loss per common share diluted (in dollars per share) | $ (0.02) | $ (0.01) | $ (0.09) |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | 9 Months Ended | ||
Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (88,764,145) | $ (84,743,836) | |
Working Capital Deficit | 5,795,395 | 3,245,409 | |
Net Cash Provided by (Used in) Operating Activities, Total | (4,248,291) | $ (7,847,751) | |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | $ (1,244,721) | $ (447,852) | |
Discontinued Operations [Member] | |||
Working Capital Deficit | $ 1,133,890 |
Note 3 - Inventory - Schedule o
Note 3 - Inventory - Schedule of Inventory (Details) - USD ($) | Dec. 31, 2019 | Mar. 31, 2019 |
Raw materials | $ 299,740 | $ 440,414 |
Work in progress | 1,495,301 | 676,341 |
Finished goods | 257,995 | 579,604 |
Allowance to reduce inventory to NRV | (492,988) | (162,567) |
Total inventory | $ 1,560,048 | $ 1,533,792 |
Note 4 - Leases (Details Textua
Note 4 - Leases (Details Textual) - USD ($) | 9 Months Ended | ||
Dec. 31, 2019 | Apr. 01, 2019 | Mar. 31, 2019 | |
Operating Lease, Right-of-Use Asset | $ 144,146 | ||
Operating Lease, Liability, Total | $ 161,136 | ||
Lessee, Operating Lease, Discount Rate | 17.00% | ||
Finance Lease Costs | $ 790,666 | ||
Finance Lease, Interest Expense | 474,686 | ||
Finance Lease, Right-of-Use Asset, Amortization | 315,980 | ||
Operating Lease, Cost | 61,144 | ||
Operating Lease, Interest Expense | 22,667 | ||
Operating Lease, Right-of-Use Asset Amortization | 38,477 | ||
Discontinued Operations [Member] | |||
Operating Lease, Right-of-Use Asset | |||
Finance Lease Costs | 280,227 | ||
Finance Lease, Interest Expense | 153,977 | ||
Finance Lease, Right-of-Use Asset, Amortization | $ 126,250 | ||
Minimum [Member] | |||
Lessee, Finance Lease, Discount Rate | 10.20% | ||
Maximum [Member] | |||
Lessee, Finance Lease, Discount Rate | 11.50% | ||
Accounting Standards Update 2016-02 [Member] | |||
Operating Lease, Right-of-Use Asset | $ 182,624 | ||
Operating Lease, Liability, Total | $ 190,173 |
Note 4 - Leases - Future Minimu
Note 4 - Leases - Future Minimum Lease Payments (Details) - USD ($) | Dec. 31, 2019 | Mar. 31, 2019 |
2020 (6 Months), finance leases | $ 185,871 | |
2020 (6 Months), operating leases | 17,547 | |
2021, finance leases | 528,443 | |
2021, operating leases | 71,548 | |
2022, finance leases | 544,296 | |
2022, operating leases | 73,939 | |
2023, finance leases | 560,625 | |
2023, operating leases | 38,101 | |
2024, finance lease | 577,444 | |
2024, operating leases | 3,926 | |
Thereafter, finance leases | 4,375,869 | |
Thereafter, operating leases | ||
Total undiscounted lease payments, finance leases | 6,772,548 | |
Total undiscounted lease payments, operating leases | 205,061 | |
Less: Amount representing interest, finance leases | (3,072,687) | |
Less: Amount representing interest, operating leases | (43,925) | |
Present value of minimum lease payments, finance leases | 3,699,861 | |
Present value of minimum lease payments, operating leases | 161,136 | |
Less: Current maturities of lease obligations, finance leases | (134,239) | $ (80,132) |
Less: Current maturities of lease obligations, operating leases | (47,084) | |
Finance lease obligations, long term | 3,565,622 | 3,646,540 |
Operating lease obligations, long term | $ 114,052 |
Note 5 - Notes Payable (Details
Note 5 - Notes Payable (Details Textual) | Nov. 15, 2019USD ($) | Mar. 04, 2019USD ($) | Feb. 06, 2019USD ($) | Jan. 16, 2019USD ($) | Dec. 21, 2018USD ($)shares | Dec. 20, 2018USD ($) | Jul. 31, 2018USD ($)shares | Jul. 28, 2018USD ($) | Oct. 23, 2017USD ($) | Feb. 18, 2020USD ($) | Feb. 14, 2020USD ($) | Dec. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($)shares | Feb. 18, 2020USD ($) | Nov. 15, 2019USD ($) | Mar. 31, 2019USD ($) | Nov. 27, 2019USD ($) | Nov. 30, 2018 |
Stock Issued to Settle Royalty Agreement, Value | $ 95,000 | $ 131,000 | |||||||||||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 451,040 | 539,242 | |||||||||||||||||||
Other Expenses, Total | 3,140,925 | ||||||||||||||||||||
Proceeds from Lines of Credit, Total | 330,000 | ||||||||||||||||||||
Long-term Line of Credit, Total | 330,000 | ||||||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||||||
Proceeds from Lines of Credit, Total | $ 150,000 | $ 480,000 | |||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity, Increased | $ 10,000 | ||||||||||||||||||||
GB Sciences, Nevada, LLC and GB Sciences Las Vegas, LLC [Member] | |||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage to be Sold by Parent | 75.00% | 75.00% | 75.00% | ||||||||||||||||||
Line of Credit [Member] | |||||||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 470,000 | ||||||||||||||||||||
Promissory Note [Member] | |||||||||||||||||||||
Debt Instrument, Face Amount | 6,020,230 | ||||||||||||||||||||
Other Expense [Member] | |||||||||||||||||||||
Repayments of Debt | $ 1,000,000 | ||||||||||||||||||||
Stock Issued to Settle Royalty Agreement, Shares | shares | 600,000 | ||||||||||||||||||||
Stock Issued During Period, Expense, New Issues | $ 131,000 | ||||||||||||||||||||
Royalty Expense | 1,530,000 | $ 1,530,000 | |||||||||||||||||||
The 0% Note Payable Dated October 23, 2017 [Member] | Promissory Note [Member] | |||||||||||||||||||||
Debt Instrument, Face Amount | 369,444 | ||||||||||||||||||||
Debt Instrument, Debt Default, Remaining Balance | 369,444 | ||||||||||||||||||||
The 0% Note Payable Dated October 23, 2017 [Member] | Promissory Note [Member] | |||||||||||||||||||||
Debt Instrument, Face Amount | $ 700,000 | ||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | ||||||||||||||||||||
Interest Expense, Debt, Total | 31,092 | ||||||||||||||||||||
Debt Instrument, Term | 3 years | ||||||||||||||||||||
Debt Instrument, Present Value | $ 521,067 | ||||||||||||||||||||
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 20.30% | ||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 178,933 | ||||||||||||||||||||
Debt Instrument, Accrued Monthly Payments, Amount | $ 155,555 | ||||||||||||||||||||
Days to Cure Breach of Default After Notification From Lender | 10 | ||||||||||||||||||||
Debt Instrument, Debt Default, Interest Rate Penalty | 10.00% | ||||||||||||||||||||
Amendment and Termination Agreement [Member] | Pacific Leaf [Member] | |||||||||||||||||||||
Stock Issued to Settle Royalty Agreement, Shares | shares | 100,000 | ||||||||||||||||||||
Stock Issued to Settle Royalty Agreement, Value | $ 36,000 | ||||||||||||||||||||
Amendment and Termination Agreement [Member] | Pacific Leaf [Member] | Other Expense [Member] | |||||||||||||||||||||
Stock Issued to Settle Royalty Agreement, Value | $ 36,000 | ||||||||||||||||||||
Nevada Medical Marijuana Production License Agreement [Member] | |||||||||||||||||||||
Payments to Acquire License | $ 500,000 | ||||||||||||||||||||
Nevada Medical Marijuana Production License Agreement [Member] | Production License [Member] | |||||||||||||||||||||
Ownership of Licence | 100.00% | ||||||||||||||||||||
Nevada Medical Marijuana Production License Agreement [Member] | Cultivation License [Member] | |||||||||||||||||||||
Ownership of Licence | 100.00% | ||||||||||||||||||||
Pacific Leaf [Member] | The 6% Note Payable Due November 30, 2018 [Member] | |||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 500,000 | ||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||||||||||||||||
Interest Expense, Debt, Total | $ 5,425 | ||||||||||||||||||||
Stock Issued to Settle Royalty Agreement, Shares | shares | 500,000 | ||||||||||||||||||||
Repayments of Notes Payable | $ 210,000 | $ 100,000 | $ 100,000 | $ 100,000 | |||||||||||||||||
Interest Paid, Excluding Capitalized Interest, Operating Activities | 12,164 | ||||||||||||||||||||
Repayments of Notes Payable, Principal | $ 87,836 | ||||||||||||||||||||
Stock Issued During Period, Expense, New Issues | $ 95,000 | ||||||||||||||||||||
Pacific Leaf [Member] | Amendment and Termination Agreement [Member] | |||||||||||||||||||||
Repayments of Debt | 1,000,000 | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,500,000 | ||||||||||||||||||||
Pacific Leaf [Member] | Amendment and Termination Agreement [Member] | Other Expense [Member] | |||||||||||||||||||||
Repayments of Debt | $ 1,000,000 | $ 1,000,000 | |||||||||||||||||||
BCM MED [Member] | The 0% Note Payable Dated December 20, 2018 [Member] | Notes Payable, Other Payables [Member] | |||||||||||||||||||||
Repayments of Debt | $ 266,667 | ||||||||||||||||||||
Debt Instrument, Face Amount | $ 300,000 | ||||||||||||||||||||
Debt Instrument, Periodic Payments, Number of Monthly Payments | 8 | ||||||||||||||||||||
Debt Instrument, Periodic Payment, Total | $ 33,333 | ||||||||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | $ 33,333 |
Note 5 - Notes Payable - Amount
Note 5 - Notes Payable - Amounts Recorded in Other Expense (Details) - USD ($) | 3 Months Ended | 9 Months Ended |
Dec. 31, 2018 | Dec. 31, 2018 | |
Total | $ 3,140,925 | |
Other Expense [Member] | ||
Prepaid royalties expensed during the quarter | $ 1,530,000 | 1,530,000 |
Promissory note issued to Pacific Leaf, due on or before November 30, 2018 | 500,000 | |
600,000 shares common stock issued to Pacific Leaf | 131,000 | |
Long-term note payable and accrued interest terminated | (20,075) | |
Total non-cash expense | 2,140,925 | |
Cash payments made in August 2018 | $ 1,000,000 |
Note 5 - Notes Payable - Amou_2
Note 5 - Notes Payable - Amounts Recorded in Other Expense (Details) (Parentheticals) | 9 Months Ended |
Dec. 31, 2018shares | |
Other Expense [Member] | |
Shares common stock issued to Pacific Leaf (in shares) | 600,000 |
Note 5 - Notes Payable - Schedu
Note 5 - Notes Payable - Schedule of Debt Payable (Details) - USD ($) | Dec. 31, 2019 | Apr. 23, 2019 | Mar. 31, 2019 |
Discount, short-term notes payable | $ (1,008,086) | $ (799,410) | |
Note Payable to John Davis [Member] | |||
Face Value, short-term notes payable | 151,923 | ||
Discount, short-term notes payable | |||
Carrying Value, short-term notes payable | 151,923 | ||
Convertible Notes Payable [Member] | The 6% Note Payable Due November 30, 2018 [Member] | |||
Face Value, short-term notes payable | 1,257,000 | ||
Discount, short-term notes payable | (257,177) | ||
Carrying Value, short-term notes payable | 999,823 | ||
Convertible Notes Payable [Member] | The 8% Convertible Promissory Note Dated April 23, 2019 [Member] | |||
Face Value, short-term notes payable | 2,640,000 | $ 2,765,000 | |
Discount, short-term notes payable | (142,314) | ||
Carrying Value, short-term notes payable | 2,497,686 | ||
Senior Secured Convertible Promissory Note [Member] | The Amended 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | |||
Face Value, short-term notes payable | 1,271,863 | ||
Discount, short-term notes payable | (584,842) | ||
Carrying Value, short-term notes payable | 687,021 | ||
Promissory Note [Member] | |||
Face Value, short-term notes payable | 6,020,230 | ||
Discount, short-term notes payable | (1,008,086) | ||
Carrying Value, short-term notes payable | 5,012,144 | ||
Promissory Note [Member] | The 0% Note Payable Dated October 23, 2017 [Member] | |||
Face Value, short-term notes payable | 369,444 | ||
Discount, short-term notes payable | (23,753) | ||
Carrying Value, short-term notes payable | 345,691 | ||
Line of Credit [Member] | |||
Face Value, short-term notes payable | 330,000 | ||
Discount, short-term notes payable | |||
Carrying Value, short-term notes payable | $ 330,000 |
Note 6 - Convertible Notes (Det
Note 6 - Convertible Notes (Details Textual) | Dec. 16, 2019USD ($)$ / sharesshares | Nov. 27, 2019USD ($)$ / shares | Nov. 18, 2019USD ($)$ / sharesshares | Oct. 30, 2019USD ($)$ / sharesshares | Oct. 23, 2019USD ($)$ / shares | Aug. 01, 2019USD ($)$ / sharesshares | Jul. 12, 2019USD ($)$ / shares | May 28, 2019USD ($)$ / sharesshares | Apr. 23, 2019USD ($)$ / shares | Feb. 28, 2019USD ($)$ / shares | Nov. 18, 2019USD ($)$ / shares | Jul. 31, 2017USD ($)$ / shares | Mar. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | Dec. 31, 2018USD ($) | Dec. 31, 2017USD ($)$ / sharesshares | Sep. 30, 2017USD ($)$ / sharesshares | Jun. 30, 2017USD ($)$ / sharesshares | Dec. 31, 2019USD ($)shares | Dec. 31, 2018USD ($) | Nov. 15, 2019 | Mar. 31, 2019USD ($) |
Interest Payable, Current | $ 429,064 | $ 429,064 | $ 142,112 | |||||||||||||||||||
Amortization of Debt Discount (Premium) | $ 741,912 | $ 685,766 | ||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 7,583,333 | |||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | (92,795) | $ (216,954) | ||||||||||||||||||||
Interest Expense, Debt, Excluding Amortization | 93,931 | 3,464,187 | ||||||||||||||||||||
Induced Conversion of Convertible Debt Expense | 127,059 | 127,059 | ||||||||||||||||||||
GB Sciences, Nevada, LLC and GB Sciences Las Vegas, LLC [Member] | ||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage to be Sold by Parent | 75.00% | 75.00% | ||||||||||||||||||||
Warrants Issued in March 2017 Convertible Note Offering [Member] | ||||||||||||||||||||||
Class of Warrant or Right, Issued | shares | 3,862,000 | 4,138,000 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 1 | 1 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.60 | $ 0.60 | ||||||||||||||||||||
Warrants and Rights Outstanding, Term | 3 years | 3 years | ||||||||||||||||||||
Warrants Related to July 2017 Convertible Note Offering [Member] | ||||||||||||||||||||||
Class of Warrant or Right, Issued | shares | 16,464,000 | 12,340,000 | ||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | shares | 1 | 1 | ||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.65 | $ 0.65 | $ 0.65 | |||||||||||||||||||
Warrants and Rights Outstanding, Term | 3 years | 3 years | ||||||||||||||||||||
Debt Instrument, Convertible, Number of Warrants | 4,000 | |||||||||||||||||||||
Convertible Notes Payable [Member] | ||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 829,736 | |||||||||||||||||||||
Convertible Notes Payable [Member] | March 2017 Convertible Note Offering [Member] | ||||||||||||||||||||||
Debt Instrument, Face Amount | $ 965,500 | $ 1,034,500 | ||||||||||||||||||||
Debt Instrument, Term | 3 years | 3 years | ||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 416,733 | $ 487,957 | ||||||||||||||||||||
Debt Instrument, Convertible, Discount, Fair Value of Warrants | $ 548,767 | $ 480,236 | ||||||||||||||||||||
Convertible Notes Payable [Member] | March 2017 Convertible Note Offering [Member] | Common Stock [Member] | ||||||||||||||||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 3,862,000 | 4,138,000 | ||||||||||||||||||||
Convertible Notes Payable [Member] | July 2017 Convertible Note Offering [Member] | ||||||||||||||||||||||
Debt Instrument, Face Amount | $ 4,116,000 | $ 3,085,000 | ||||||||||||||||||||
Debt Instrument, Term | 3 years | 3 years | 3 years | |||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 1,600,808 | $ 1,541,797 | ||||||||||||||||||||
Debt Instrument, Convertible, Discount, Fair Value of Warrants | $ 2,417,856 | $ 1,532,335 | ||||||||||||||||||||
Debt Instrument, Face Amount Per Note | $ 1,000 | |||||||||||||||||||||
Convertible Notes Payable [Member] | July 2017 Convertible Note Offering [Member] | Common Stock [Member] | ||||||||||||||||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 4,000 | 16,464,000 | 12,340,000 | |||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.25 | |||||||||||||||||||||
Convertible Notes Payable [Member] | March 2017 and July 2017 Note Offerings [Member] | ||||||||||||||||||||||
Long-term Debt, Gross | 999,823 | 999,823 | ||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 257,177 | 257,177 | ||||||||||||||||||||
Interest Payable, Current | 178,381 | 178,381 | ||||||||||||||||||||
Interest Expense, Debt, Total | 364,575 | |||||||||||||||||||||
Amortization of Debt Discount (Premium) | 307,752 | |||||||||||||||||||||
Convertible Notes Payable [Member] | The 8% Convertible Promissory Note Dated April 23, 2019 [Member] | ||||||||||||||||||||||
Debt Instrument, Face Amount | $ 2,765,000 | 2,640,000 | 2,640,000 | |||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.0375 | $ 0.06 | $ 0.17 | $ 0.0375 | ||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 265,000 | |||||||||||||||||||||
Interest Expense, Debt, Total | 164,150 | |||||||||||||||||||||
Amortization of Debt Discount (Premium) | 109,870 | |||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 50,000 | $ 75,000 | $ 125,000 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 1,333,333 | 1,250,000 | ||||||||||||||||||||
Short-term Debt, Total | $ 2,497,686 | $ 2,497,686 | ||||||||||||||||||||
Debt Instrument, Debt Default, Interest Rate Penalty | 15.00% | 15.00% | ||||||||||||||||||||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net, Total | 440,000 | |||||||||||||||||||||
Payments for Brokerage Fees | $ 175,000 | |||||||||||||||||||||
Debt Instrument, Debt Default, Increase in Balance Outstanding, Percentage | 10.00% | 10.00% | ||||||||||||||||||||
Induced Conversion of Convertible Debt Expense | $ 62,353 | $ 64,706 | $ 127,059 | $ 127,059 | ||||||||||||||||||
Promissory Note [Member] | ||||||||||||||||||||||
Debt Instrument, Face Amount | 6,020,230 | 6,020,230 | ||||||||||||||||||||
Short-term Debt, Total | 5,012,144 | 5,012,144 | ||||||||||||||||||||
Promissory Note [Member] | July 2017 Convertible Note Offering [Member] | ||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | |||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | ||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,500,000 | |||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 92,796 | $ 133,806 | $ 176,471 | |||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 8.00% | 8.00% | |||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 57,551 | $ 9,579 | $ 17,225 | 584,842 | 584,842 | |||||||||||||||||
Interest Payable, Current | 32,186 | 32,186 | ||||||||||||||||||||
Interest Expense, Debt, Total | 61,286 | |||||||||||||||||||||
Debt Conversion, Original Debt, Amount | 120,000 | 110,000 | 170,000 | |||||||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | (62,449) | $ 30,000 | (100,421) | $ 100,000 | (152,775) | |||||||||||||||||
Short-term Debt, Total | $ 1,271,863 | 1,361,863 | 1,269,067 | $ 1,361,863 | 1,338,057 | $ 1,330,000 | $ 687,021 | $ 687,021 | ||||||||||||||
Proceeds from Related Party Debt | 100,000 | |||||||||||||||||||||
Debt Instrument, Increase, Accrued Interest | 41,863 | |||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 0 | $ (92,796) | $ (124,158) | |||||||||||||||||||
Debt Instrument, Debt Default, Interest Rate Penalty | 10.00% | 10.00% | ||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | Minimum [Member] | ||||||||||||||||||||||
Days to Cure Breach of Default After Notification From Lender | 5 | 5 | ||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | Maximum [Member] | ||||||||||||||||||||||
Days to Cure Breach of Default After Notification From Lender | 10 | 10 | ||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | GB Sciences, Nevada, LLC [Member] | Collateral Pledged [Member] | ||||||||||||||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | |||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | Common Stock [Member] | ||||||||||||||||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 8,823,529 | |||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ / shares | $ 0.04 | $ 0.04 | $ 0.08 | $ 0.11 | $ 0.11 | $ 0.17 | $ 0.17 | |||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | shares | 3,000,000 | 1,000,000 | 1,000,000 | |||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The Amended 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | ||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,271,863 | $ 1,271,863 | ||||||||||||||||||||
Interest Expense, Debt, Total | 89,624 | |||||||||||||||||||||
Amortization of Debt Discount (Premium) | 62,354 | |||||||||||||||||||||
Short-term Debt, Total | $ 687,021 | 687,021 | ||||||||||||||||||||
Interest Expense, Debt, Excluding Amortization | $ 27,270 |
Note 7 - Capital Transactions (
Note 7 - Capital Transactions (Details Textual) - USD ($) | Dec. 31, 2019 | Dec. 16, 2019 | Nov. 27, 2019 | Nov. 18, 2019 | Oct. 30, 2019 | Oct. 10, 2019 | Oct. 01, 2019 | Aug. 01, 2019 | Jul. 12, 2019 | May 28, 2019 | Dec. 31, 2019 | Nov. 18, 2019 | Dec. 31, 2019 | Jul. 11, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Oct. 23, 2019 | Aug. 15, 2019 | Jul. 10, 2019 | Apr. 23, 2019 | Mar. 31, 2019 | Feb. 28, 2019 | Jan. 15, 2019 | Dec. 04, 2018 | Apr. 08, 2018 | Apr. 07, 2018 |
Common Stock, Shares Authorized | 600,000,000 | 600,000,000 | 600,000,000 | 600,000,000 | 600,000,000 | 600,000,000 | 400,000,000 | 250,000,000 | |||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 7,583,333 | ||||||||||||||||||||||||||
Induced Conversion of Convertible Debt Expense | $ 127,059 | $ 127,059 | |||||||||||||||||||||||||
Exercise of Warrants for Stock, Shares | 12,574,750 | ||||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 2,000,000 | 2,500,000 | |||||||||||||||||||||||||
Consulting Service Expense | $ 214,000 | ||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 7,668,167 | ||||||||||||||||||||||||||
Proceeds from Issuance of Common Stock and Warrants | $ 240,000 | ||||||||||||||||||||||||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 15,131 | $ 15,131 | $ 15,131 | $ 15,131 | |||||||||||||||||||||||
Employees and Consultants [Member] | Share-based Payment Arrangement, Option [Member] | |||||||||||||||||||||||||||
Share-based Payment Arrangement, Expense | $ 241,242 | ||||||||||||||||||||||||||
Employees [Member] | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 10,383,334 | 10,383,334 | 10,383,334 | 10,383,334 | |||||||||||||||||||||||
Consultants [Member] | |||||||||||||||||||||||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance | 2,383,000 | 2,383,000 | 2,383,000 | 2,383,000 | |||||||||||||||||||||||
Private Placement [Member] | |||||||||||||||||||||||||||
Brokerage Fees for Issuance of Common Stock and Warrants | $ 71,529 | ||||||||||||||||||||||||||
Units of Common Stock and Warrants, Authorized | 20,000,000 | 15,000,000 | |||||||||||||||||||||||||
Units of Combined Common Stock and Warrants, Price Per Unit | $ 0.15 | $ 0.20 | |||||||||||||||||||||||||
Units of Combined Common Stock and Warrants, Value | $ 3,000,000 | ||||||||||||||||||||||||||
Proceeds from Issuance of Private Placement | $ 478,696 | ||||||||||||||||||||||||||
Warrants Issued to Investors in Private Placements [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Outstanding | 70,500,000 | ||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.04 | $ 0.04 | $ 0.04 | $ 0.04 | |||||||||||||||||||||||
Class of Warrant or Right, Temporarily Reduced Exercise Price of Warrants or Rights | $ 0.10 | ||||||||||||||||||||||||||
Class of Warrant or Right, Exercises in Period | 9,449,750 | 3,125,000 | |||||||||||||||||||||||||
Proceeds from Warrant Exercises | $ 850,478 | $ 112,500 | |||||||||||||||||||||||||
Brokerage Fees for Issuance of Common Stock and Warrants | 94,498 | 12,500 | |||||||||||||||||||||||||
Inducement Dividend, Exercise of Warrants | $ 37,499 | $ 230,025 | $ 37,499 | $ 37,499 | $ 37,499 | ||||||||||||||||||||||
Warrants Issued to Investors in Private Placements [Member] | Maximum [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.65 | ||||||||||||||||||||||||||
Warrants Issued to Investors in Private Placements [Member] | Minimum [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.30 | ||||||||||||||||||||||||||
Warrants Issued In the Private Placement on December 4, 2018 [Member] | Private Placement [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.30 | $ 0.30 | $ 0.30 | $ 0.30 | $ 0.30 | $ 0.60 | |||||||||||||||||||||
Units of Combined Common Stock and Warrants, Warrants Per Unit | 1 | ||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | ||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 5 years | ||||||||||||||||||||||||||
Class of Warrant or Right, Issued | 3,668,167 | ||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | 1 | 1 | 1 | 1 | |||||||||||||||||||||||
Warrants Issued to an Investor on October 10, 2019 [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.08 | ||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right | 1 | ||||||||||||||||||||||||||
Warrants and Rights Outstanding, Term | 3 years | ||||||||||||||||||||||||||
Class of Warrant or Right, Issued | 2,000,000 | ||||||||||||||||||||||||||
Warrants and Rights Outstanding | $ 110,000 | ||||||||||||||||||||||||||
Warrants Issued to Broker Participating in Private Placement on December 4, 2018 [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Outstanding | 87,526,411 | 87,526,411 | 87,526,411 | 87,526,411 | |||||||||||||||||||||||
Warrants Issued to Broker Participating in Private Placement on December 4, 2018 [Member] | Private Placement [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.30 | $ 0.30 | $ 0.30 | $ 0.30 | |||||||||||||||||||||||
Class of Warrant or Right, Issued | 1,954,613 | ||||||||||||||||||||||||||
Class of Warrant or Right, Expense | $ 132,914 | ||||||||||||||||||||||||||
Warrants Issued to Broker Participating in Private Placement on December 4, 2018 [Member] | Maximum [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 1 | 1 | 1 | 1 | |||||||||||||||||||||||
Warrants Issued to Broker Participating in Private Placement on December 4, 2018 [Member] | Minimum [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ 0.30 | $ 0.30 | $ 0.30 | $ 0.30 | |||||||||||||||||||||||
Common Stock [Member] | |||||||||||||||||||||||||||
Exercise of Warrants for Stock, Shares | 3,125,000 | 12,574,750 | 12,657,875 | ||||||||||||||||||||||||
Stock Issued During Period, Shares, Issued for Services | 2,500,000 | 2,341,568 | 2,500,000 | 3,885,412 | |||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 4,000,000 | 4,000,000 | 3,470,000 | 7,668,167 | 23,747,778 | ||||||||||||||||||||||
Cancellation of Shares Issued for Services | 400,000 | ||||||||||||||||||||||||||
Common Stock [Member] | Private Placement [Member] | |||||||||||||||||||||||||||
Stock Issued During Period, Shares, New Issues | 3,668,167 | ||||||||||||||||||||||||||
Units of Combined Common Stock and Warrants, Shares Per Unit | 1 | ||||||||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | |||||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 120,000 | $ 110,000 | $ 170,000 | ||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | 8.00% | 8.00% | ||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 584,842 | 57,551 | 9,579 | $ 17,225 | $ 584,842 | $ 584,842 | $ 584,842 | ||||||||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | (62,449) | $ 30,000 | (100,421) | $ 100,000 | (152,775) | ||||||||||||||||||||||
Short-term Debt, Total | 687,021 | $ 1,271,863 | $ 1,361,863 | $ 1,361,863 | $ 1,338,057 | $ 1,330,000 | 687,021 | 687,021 | 687,021 | $ 1,269,067 | |||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | Common Stock [Member] | |||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 3,000,000 | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.04 | $ 0.04 | $ 0.11 | $ 0.11 | $ 0.17 | $ 0.08 | $ 0.17 | ||||||||||||||||||||
Convertible Notes Payable [Member] | The 8% Convertible Promissory Note Dated April 23, 2019 [Member] | |||||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued | 1,333,333 | 1,250,000 | |||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 50,000 | $ 75,000 | $ 125,000 | ||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price | $ 0.0375 | $ 0.06 | $ 0.0375 | $ 0.17 | |||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 265,000 | ||||||||||||||||||||||||||
Short-term Debt, Total | $ 2,497,686 | $ 2,497,686 | 2,497,686 | 2,497,686 | |||||||||||||||||||||||
Induced Conversion of Convertible Debt Expense | $ 62,353 | $ 64,706 | $ 127,059 | $ 127,059 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Details Textual) | Oct. 01, 2019USD ($)shares | Jun. 06, 2019USD ($)shares | Dec. 06, 2018USD ($)$ / sharesshares | Sep. 18, 2017USD ($) | Dec. 31, 2019USD ($) | Jun. 06, 2019shares | Dec. 31, 2019USD ($)shares | Mar. 31, 2019USD ($) | Dec. 31, 2019USD ($) |
Monthly Consulting Fee | $ 50,000 | ||||||||
Stock Issued During Period, Shares, Issued for Services | shares | 2,000,000 | 2,500,000 | |||||||
Quarterly Stock Fee, Shares | shares | 2,000,000 | ||||||||
Consulting Expense Related to Common Stock Payments | $ 180,000 | ||||||||
Consulting Expense Related to Cash Payments | $ 50,000 | ||||||||
Asset Forfeiture, Charge | $ 200,000 | ||||||||
SylvaCap Media [Member] | |||||||||
Monthly Consulting Fee | $ 10,000 | ||||||||
Monthly Consulting Fee, Number of Months | 12 | ||||||||
SylvaCap Media [Member] | Restricted Stock [Member] | |||||||||
Stock Issued During Period, Shares, Issued for Services | shares | 2,000,000 | 2,000,000 | 4,000,000 | ||||||
Loss on Contract Termination | $ 135,000 | ||||||||
Shares Unissued for Services, Contract Termination | shares | 2,000,000 | ||||||||
Warrants Issued to SylvaCap Media for Business Advisory and Consulting Services [Member] | |||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 2,000,000 | ||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.1125 | ||||||||
Warrants and Rights Outstanding | $ 244,000 | ||||||||
Class of Warrant or Right, Expense | $ 162,667 | ||||||||
Agreement With Louisiana State Unversity AgCenter [Member] | |||||||||
Term of Agreement | 5 years | 3 years | |||||||
Option to Renew Agreement, Amount | 2 | ||||||||
Term of Agreement, Renewal | 5 years | ||||||||
Research and Development Expense, Total | $ 500,000 | $ 250,000 | $ 750,000 |
Note 9 - Related Party Transa_2
Note 9 - Related Party Transactions (Details Textual) - USD ($) | Oct. 01, 2019 | Nov. 01, 2017 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Mar. 31, 2019 |
Due to Officers or Stockholders, Current | $ 324,738 | |||||
Notes Payable, Related Parties, Current | $ 151,923 | |||||
Stock Issued During Period, Shares, Issued for Services | 2,000,000 | 2,500,000 | ||||
Other Expenses, Total | $ 3,140,925 | |||||
THC Note [Member] | Line of Credit [Member] | ||||||
Line of Credit Facility, Current Borrowing Capacity | $ 300,000 | |||||
Repayment as Percent of Gross Revenue | 25.00% | |||||
Proceeds from Related Party Debt | 253,034 | |||||
Officer [Member] | ||||||
Due to Officers or Stockholders, Current | $ 324,738 | |||||
Unpaid Wages, Related Parties | 142,637 | |||||
Unpaid Bonuses, Related Parties | 75,747 | |||||
Reimbursement for Business Expense, Related Parties | 106,354 | |||||
John Davis [Member] | ||||||
Notes Payable, Related Parties, Current | $ 151,923 | |||||
Quantum Shop [Member] | ||||||
Related Party Transaction, Amounts of Transaction | 1,100,000 | |||||
Electrum Partners, LLC [Member] | ||||||
Related Party Transaction, Amounts of Transaction | $ 73,904 | |||||
Stock Issued During Period, Shares, Issued for Services | 285,412 | |||||
Restricted Stock or Unit Expense | $ 99,596 | |||||
THCLLC [Member] | ||||||
Capitalization of Fair Value of Machinery and Equipment | $ 139,411 | |||||
Other Expenses, Total | $ 113,623 | $ 113,623 | ||||
THCLLC [Member] | Minimum [Member] | ||||||
Royalty Rates | 20.00% | |||||
THCLLC [Member] | Maximum [Member] | ||||||
Royalty Rates | 25.00% |
Note 10 - Sale of 50% Members_3
Note 10 - Sale of 50% Membership Interest in GB Sciences Louisiana, LLC (Details Textual) - USD ($) | Nov. 15, 2019 | Feb. 12, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Nov. 30, 2019 |
Deconsolidation, Gain (Loss), Amount | $ 4,502,058 | $ 4,502,058 | $ 4,502,058 | |||||
Wellcana Note [Member] | ||||||||
Note Receivable, Interest Rate | 5.00% | |||||||
Receivable with Imputed Interest, Discount | $ 1,389,408 | |||||||
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 17.00% | |||||||
Receivable with Imputed Interest, Net Amount, Total | $ 6,610,592 | |||||||
GB Sciences Louisiana, LLC [Member] | ||||||||
Proceeds from Divestiture of Businesses | 8,000,000 | |||||||
Earnout Payments | $ 8,000,000 | $ 8,000,000 | ||||||
Wellcana Group, LLC [Member] | ||||||||
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners | 49.99% | |||||||
Wellcana Group, LLC [Member] | GB Sciences Louisiana, LLC, Sale of Equity [Member] | ||||||||
Sale of Stock, Percentage of Ownership | 50.01% | 15.00% | ||||||
Sale of Stock, Consideration Received on Transaction | $ 3,000,000 | $ 7,000,000 | ||||||
Sale of Stock, Percentage of Ownership Available For Sale | 35.00% | |||||||
Sale of Stock, Percentage of Available Stock For Sale, Percent to be Sold Per Transaction | 5.00% | |||||||
Sale of Stock, Consideration Received Per Transaction | $ 1,000,000 |
Note 10 - Sale of 50% Members_4
Note 10 - Sale of 50% Membership Interest in GB Sciences Louisiana, LLC - Note Receivable (Details) - Wellcana Note [Member] | Nov. 15, 2019USD ($) |
June 1, 2020 | $ 500,000 |
September 1, 2020 | 750,000 |
December 1, 2020 | 1,000,000 |
March 1, 2020 | 1,250,000 |
June 1, 2021 | 1,500,000 |
September 1, 2021 | 1,500,000 |
December 1, 2021 | 1,500,000 |
TOTAL PAYMENTS | 8,000,000 |
DISCOUNT ON NOTE RECEIVABLE | (1,389,408) |
NET PRESENT VALUE | $ 6,610,592 |
Note 10 - Sale of 50% Members_5
Note 10 - Sale of 50% Membership Interest in GB Sciences Louisiana, LLC - Deconsolidation (Details) - USD ($) | Nov. 15, 2019 | Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2019 | Dec. 31, 2018 |
GAIN ON DECONSOLIDATION | $ 4,502,058 | $ 4,502,058 | $ 4,502,058 | ||
GB Sciences Louisiana, LLC [Member] | |||||
Present value of promissory note | 6,610,592 | ||||
Carrying amount of non-controlling interest | 8,707,651 | ||||
TOTAL | 15,318,243 | ||||
Carrying amount of assets | 14,715,798 | ||||
Carrying amount of liabilities | (3,899,613) | ||||
Net assets deconsolidated | 10,816,185 | ||||
GAIN ON DECONSOLIDATION | $ 4,502,058 |
Note 11 - Sale of Membership _2
Note 11 - Sale of Membership Interests in Nevada Subsidiaries (Details Textual) - USD ($) | Dec. 06, 2019 | Nov. 27, 2019 |
Line of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 470,000 | |
Teco Note [Member] | Line of Credit [Member] | ||
Line of Credit Facility, Maximum Borrowing Capacity | $ 470,000 | |
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |
AJE Management, LLC [Member] | ||
Management Fee | $ 75,000 | |
Teco [Member] | ||
Sale of Stock, Percentage of Ownership | 75.00% | |
Sale of Stock, Consideration Received on Transaction | $ 3,000,000 | |
Sale of Stock, Additional Earn-out Payments | $ 3,000,000 | |
GB Sciences Nopah, LLC [Member] | ||
Sale of Stock, Percentage of Ownership | 100.00% | |
Sale of Stock, Consideration Received on Transaction | $ 300,000 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - Subsequent Event [Member] | 2 Months Ended |
Feb. 18, 2020USD ($)$ / sharesshares | |
Class of Warrant or Right, Exercises in Period | shares | 2,214,000 |
Class of Warrant or Right, Exercises in Period, Exercise Price | $ / shares | $ 0.04 |
Proceeds from Warrant Exercises | $ 79,704 |
Brokerage Fees | $ 8,856 |