Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Dec. 31, 2020 | Feb. 13, 2021 | |
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) | 293,521,444 | |
Entity Shell Company | false | |
Document Type | 10-Q | |
Document Period End Date | Dec. 31, 2020 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 |
CURRENT ASSETS: | ||
Cash and cash equivalents | $ 771,064 | $ 2,406 |
Prepaid expenses and other current assets | 40,225 | 18,776 |
Note receivable | 5,224,423 | |
Current assets from discontinued operations | 2,084,877 | 1,755,275 |
TOTAL CURRENT ASSETS | 2,896,166 | 7,000,880 |
Property and equipment, net | 28,150 | 37,821 |
Intangible assets, net of accumulated amortization of $28,968 and $12,287 at December 31, 2020 and March 31, 2020, respectively | 1,647,376 | 1,128,702 |
Long term assets from discontinued operations | 5,677,156 | 6,185,465 |
TOTAL ASSETS | 10,248,848 | 14,352,868 |
CURRENT LIABILITIES: | ||
Accounts payable | 1,456,695 | 1,913,049 |
Accrued interest | 462,930 | 366,865 |
Accrued liabilities | 1,110,525 | 813,618 |
Notes and convertible notes payable and line of credit, net of unamortized discount of $0 and $608,580 at December 31, 2020 and March 31, 2020, respectively | 3,726,308 | 5,054,728 |
Indebtedness to related parties | 331,895 | 586,512 |
Note payable to related party | 151,923 | |
Income tax payable | 827,546 | 592,982 |
Current liabilities from discontinued operations | 1,115,379 | 1,406,080 |
TOTAL CURRENT LIABILITIES | 9,031,278 | 10,885,757 |
Convertible notes payable, net of unamortized discount of $63,058 and $0 at December 31, 2020 and March 31, 2020, respectively | 283,942 | |
Long term liabilities from discontinued operations | 3,429,704 | 3,555,605 |
TOTAL LIABILITIES | 12,744,924 | 14,441,362 |
Commitments and contingencies (Note 8) | ||
STOCKHOLDERS' DEFICIT: | ||
Common Stock, $0.0001 par value, 600,000,000 shares authorized, 283,819,453 and 275,541,602 outstanding at December 31, 2020 and March 31, 2020, respectively | 28,382 | 27,554 |
Additional paid-in capital | 98,126,152 | 97,271,157 |
Accumulated deficit | (100,650,610) | (97,387,205) |
TOTAL STOCKHOLDERS' DEFICIT | (2,496,076) | (88,494) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 10,248,848 | $ 14,352,868 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 |
Intangible assets, accumulated amortization | $ 28,968 | $ 12,287 |
Unamortized discount, current | 0 | 608,580 |
Unamortized discount, noncurrent | $ 63,058 | $ 0 |
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) | 283,819,453 | 275,541,602 |
Common stock, shares outstanding (in shares) | 283,819,453 | 275,541,602 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Sales revenue | ||||
Cost of goods sold | ||||
Gross profit | ||||
General and administrative expenses | 670,311 | 1,472,937 | 1,677,482 | 4,555,633 |
LOSS FROM OPERATIONS | (670,311) | (1,472,937) | (1,677,482) | (4,555,633) |
OTHER INCOME/(EXPENSE) | ||||
Interest expense | (167,120) | (277,813) | (1,249,994) | (942,750) |
Loss on amendment to line of credit | (650,000) | (650,000) | ||
Gain/(loss) on extinguishment | 467,872 | (92,796) | 467,872 | (216,954) |
Gain on settlement of accounts payable | 372,415 | 372,415 | ||
Gain on deconsolidation | 4,502,058 | 4,502,058 | ||
Debt default penalty | (286,059) | |||
Other income/(expense) | 17,523 | (127,059) | 14,149 | 89,806 |
Total other income/(expense) | 40,690 | 4,004,390 | (1,331,617) | 3,432,160 |
INCOME/(LOSS) BEFORE INCOME TAXES | (629,621) | 2,531,453 | (3,009,099) | (1,123,473) |
Income tax expense | (206,690) | (234,564) | ||
INCOME/(LOSS) FROM CONTINUING OPERATIONS | (836,311) | 2,531,453 | (3,243,663) | (1,123,473) |
Gain/(loss) from discontinued operations | 242,327 | (1,547,306) | (2,479) | (3,359,868) |
NET INCOME/(LOSS) | (593,984) | 984,147 | (3,246,142) | (4,483,341) |
Net loss attributable to non-controlling interest | (360,327) | (738,107) | ||
NET INCOME/(LOSS) ATTRIBUTABLE TO GB SCIENCES, INC. | (593,984) | 1,344,474 | (3,246,142) | (3,745,234) |
Net income/(loss) attributable to common stockholders of GB Sciences, Inc. - basic | ||||
Continuing operations | (836,311) | 2,531,453 | (3,243,663) | (1,123,473) |
Discontinued operations, net of non-controlling interest | 242,327 | (1,186,979) | (2,479) | (2,621,761) |
Net income/(loss) | (593,984) | 1,344,474 | (3,246,142) | (3,745,234) |
Net income/(loss) attributable to common stockholders of GB Sciences, Inc. - diluted | ||||
Continuing operations | (836,311) | 2,583,061 | (3,243,663) | (1,123,473) |
Discontinued operations, net of non-controlling interest | 242,327 | (1,186,979) | (2,479) | (2,621,761) |
Net income/(loss) | $ (593,984) | $ 1,396,082 | $ (3,246,142) | $ (3,745,234) |
Net income/(loss) per common share – basic | ||||
Continuing operations (in dollars per share) | $ 0 | $ 0.01 | $ (0.01) | $ 0 |
Discontinued operations, net of non-controlling interest (in dollars per share) | 0 | 0 | 0 | (0.01) |
Net income/(loss) (in dollars per share) | 0 | 0.01 | (0.01) | (0.01) |
Net income/(loss) per common share – diluted | ||||
Continuing operations (in dollars per share) | 0 | 0 | (0.01) | 0 |
Discontinued operations, net of non-controlling interest (in dollars per share) | 0 | 0 | 0 | (0.01) |
Net income/(loss) (in dollars per share) | $ 0 | $ 0 | $ (0.01) | $ (0.01) |
Weighted average common shares outstanding - basic (in shares) | 280,967,623 | 263,055,254 | 280,119,116 | 253,297,660 |
Weighted average common shares outstanding - diluted (in shares) | 280,967,623 | 325,790,554 | 280,119,116 | 253,297,660 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2020USD ($) | |
OPERATING ACTIVITIES: | |||||
Net loss | $ (593,984) | $ 984,147 | $ (3,246,142) | $ (4,483,341) | |
Loss from discontinued operations | 242,327 | (1,547,306) | (2,479) | (3,359,868) | |
Net loss from continuing operations | (3,243,663) | (1,123,473) | |||
Adjustments to reconcile net loss to net cash used in operating activities: | |||||
Depreciation and amortization | 30,097 | 100,877 | |||
Stock-based compensation and modification expense | 248,850 | 455,242 | |||
Compensation warrants issued | 132,914 | ||||
Amortization of debt discount and beneficial conversion feature | 776,908 | 698,615 | |||
Interest expense on conversion of notes payable | 93,931 | ||||
Loss on induced conversion | 127,059 | ||||
Amortization of discount on note receivable | (120,583) | ||||
Accrued interest income | (50,411) | ||||
ASC 842 Adjustment | (1,227) | ||||
Loss on amendment to line of credit | 650,000 | 650,000 | |||
Loss/(gain) on extinguishment | (467,872) | 92,796 | (467,872) | 216,954 | |
Gain on settlement of accounts payable | (372,415) | (372,415) | |||
Gain on deconsolidation | (4,502,058) | (4,502,058) | |||
Debt default penalty | 286,059 | ||||
Changes in operating assets and liabilities: | |||||
Prepaid expenses and other current assets | (21,449) | 204,699 | |||
Accounts payable | 20,961 | 485,774 | |||
Accrued expenses | 319,407 | 169,096 | |||
Accrued interest | 518,892 | 291,256 | |||
Deposits and other noncurrent assets | 106,385 | ||||
Income tax payable | 234,564 | ||||
Indebtedness to related parties | (254,617) | ||||
Net cash used in operating activities of continuing operations | (1,274,278) | (2,714,950) | |||
Net cash provided by/(used in) operating activities of discontinued operations | 21,098 | (1,533,341) | |||
Net cash used in operating activities | (1,253,180) | (4,248,291) | |||
INVESTING ACTIVITIES: | |||||
Proceeds from note receivable | 5,051,923 | ||||
Acquisition of intangible assets | (326,000) | (91,862) | |||
Net cash provided by/(used in) investing activities of continuing operations | 4,725,923 | (91,862) | |||
Net cash used in investing activities of discontinued operations | (131,302) | (446,922) | |||
Net cash provided by/(used in) investing activities | 4,594,621 | (538,784) | |||
FINANCING ACTIVITIES: | |||||
Proceeds from issuance of common stock | 790,225 | ||||
Gross proceeds from warrant exercises | 249,807 | 1,069,975 | |||
Gross proceeds from convertible notes payable | 300,000 | 2,630,000 | |||
Proceeds from Line of Credit | 375,000 | ||||
Principal payment of notes and convertible notes payable | (3,156,014) | (26,664) | |||
Principal payment of note payable to related party | (151,923) | ||||
Fees for issuance of note payable and convertible note payable | (34,500) | (175,000) | |||
Brokerage fees for issuance of common stock and warrants | (24,983) | (175,628) | |||
Net cash provided by/(used in) financing activities of continuing operations | (2,442,613) | 4,112,908 | |||
Net cash provided by/(used in) financing activities of discontinued operations | (129,237) | 529,412 | |||
Net cash provided by/(used in) financing activities | (2,571,850) | 4,642,320 | |||
Net change in cash and cash equivalents | 769,591 | (144,755) | |||
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 151,766 | 182,055 | $ 182,055 | ||
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 921,357 | 37,300 | 921,357 | 37,300 | $ 151,766 |
Less: cash and cash equivalents classified as discontinued operations | (150,293) | (17,782) | (150,293) | (17,782) | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD FROM CONTINUING OPERATIONS | $ 771,064 | $ 19,518 | 771,064 | 19,518 | |
Cash paid for interest | 241,014 | 451,040 | |||
Cash paid for income tax | |||||
Non-cash transactions: | |||||
Accrued liabilities forgiven in connection with Wellcana Note settlement | 172,500 | ||||
Depreciation capitalized in inventory (discontinued operations) | 417,616 | 370,167 | |||
Accrued interest capitalized in convertible note principal | 223,094 | ||||
Property capitalized under operating leases | 182,624 | ||||
Patent acquisition costs capitalized in intangible assets | 45,100 | 163,174 | |||
Stock options issued for services | 168,000 | ||||
Stock issued upon conversion of notes payable | 525,000 | ||||
Induced dividend from warrant exercises | 17,263 | 267,525 | |||
Cumulative effect of the new lease standard | 7,550 | ||||
Convertible Notes Payable [Member] | |||||
Non-cash transactions: | |||||
Beneficial conversion feature on notes payable | $ 196,886 | $ 829,736 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Equity/(Deficit) (Unaudited) - USD ($) | Cumulative Effect, Period of Adoption, Adjustment [Member]Common Stock [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Additional Paid-in Capital [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Retained Earnings [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member]Noncontrolling Interest [Member] | Cumulative Effect, Period of Adoption, Adjustment [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Mar. 31, 2019 | 240,627,102 | |||||||||
Balance (Accounting Standards Update 2016-02 [Member]) at Mar. 31, 2019 | $ (7,550) | $ (7,550) | ||||||||
Balance at Mar. 31, 2019 | $ 24,063 | $ 93,020,015 | $ (84,743,836) | $ 8,855,757 | $ 17,155,999 | |||||
Exercise of warrants for stock, net of issuance costs (in shares) | 12,574,750 | |||||||||
Exercise of warrants for stock, net of issuance costs | $ 1,257 | 964,620 | 965,877 | |||||||
Share based compensation expense | 241,242 | 241,242 | ||||||||
Beneficial conversion feature on notes payable | 829,736 | 829,736 | ||||||||
Net 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 | |||||||
Issuance of stock for services (in shares) | 2,500,000 | |||||||||
Issuance of stock for services | $ 250 | 213,750 | 214,000 | |||||||
Issuance of stock for cash, net of issuance costs (in shares) | 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 | ||||||||
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) | ||||||||
Share based compensation expense | 241,242 | 241,242 | ||||||||
Compensation warrants | 132,914 | 132,914 | ||||||||
Cancelled shares issued to consultant (in shares) | (400,000) | |||||||||
Cancelled shares issued to consultant | $ (40) | 40 | ||||||||
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 | |||||
Exercise of warrants for stock, net of issuance costs (in shares) | 3,125,000 | |||||||||
Exercise of warrants for stock, net of issuance costs | $ 313 | 115,088 | 115,401 | |||||||
Share based compensation expense | 32,431 | 32,431 | ||||||||
Beneficial conversion feature on notes payable | 695,932 | 695,932 | ||||||||
Net 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 | |||||||
Issuance of stock for services (in shares) | 2,500,000 | |||||||||
Issuance of stock for services | $ 250 | 213,750 | 214,000 | |||||||
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 | ||||||||
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) | ||||||||
Share based compensation expense | 32,431 | 32,431 | ||||||||
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 Mar. 31, 2020 | 275,541,602 | |||||||||
Balance at Mar. 31, 2020 | $ 27,554 | 97,271,157 | (97,387,205) | (88,494) | ||||||
Exercise of warrants for stock, net of issuance costs (in shares) | 8,277,851 | |||||||||
Exercise of warrants for stock, net of issuance costs | $ 828 | 223,996 | 224,824 | |||||||
Share based compensation expense | 191,500 | 191,500 | ||||||||
Modification of employee options and warrants | 57,350 | 57,350 | ||||||||
Beneficial conversion feature on notes payable | 196,886 | 196,886 | ||||||||
Stock options issued for services | 168,000 | 168,000 | ||||||||
Net loss | (3,246,142) | (3,246,142) | ||||||||
Inducement dividend from warrant exercises | 17,263 | (17,263) | ||||||||
Share based compensation expense | 191,500 | 191,500 | ||||||||
Balance (in shares) at Dec. 31, 2020 | 283,819,453 | |||||||||
Balance at Dec. 31, 2020 | $ 28,382 | 98,126,152 | (100,650,610) | (2,496,076) | ||||||
Balance (in shares) at Sep. 30, 2020 | 280,532,686 | |||||||||
Balance at Sep. 30, 2020 | $ 28,054 | 97,679,001 | (100,056,626) | (2,349,571) | ||||||
Exercise of warrants for stock, net of issuance costs (in shares) | 3,286,767 | |||||||||
Exercise of warrants for stock, net of issuance costs | $ 328 | 88,415 | 88,743 | |||||||
Share based compensation expense | 191,500 | 191,500 | ||||||||
Modification of employee options and warrants | 57,350 | 57,350 | ||||||||
Beneficial conversion feature on notes payable | 46,886 | 46,886 | ||||||||
Stock options issued for services | 63,000 | 63,000 | ||||||||
Net loss | (593,984) | (593,984) | ||||||||
Share based compensation expense | 191,500 | 191,500 | ||||||||
Balance (in shares) at Dec. 31, 2020 | 283,819,453 | |||||||||
Balance at Dec. 31, 2020 | $ 28,382 | $ 98,126,152 | $ (100,650,610) | $ (2,496,076) |
Note 1 - Background and Signifi
Note 1 - Background and Significant Accounting Policies | 9 Months Ended |
Dec. 31, 2020 | |
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 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 plant-based medicines, primarily cannabinoid medicines, with virtual operations in North America and Europe. GBSGB's assets include a portfolio of cannabinoid medicine intellectual property, critical research contracts, and key supplier arrangements. GBSGB's intellectual property covers a range of conditions and several programs are in the 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 five seven three 29 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, 2021. March 31, 2020 not 10 March 31, 2020 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 and standard cost allocations, 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 to conform to the current period presentation. Certain items on the unaudited balance sheets and statements of operations and cash flows have been reclassified to conform with current period presentation. The assets, liabilities, income/(loss), and cash flows of GB Sciences Louisiana, LLC, GB Sciences Nevada, LLC, GB Sciences Las Vegas, LLC, and GB Sciences Nopah, LLC have been reclassified to discontinued operations due to the sale of the Company's Louisiana cultivation and extraction facility (Note 10 11 Discontinued Operations Refer to Note 3. Long-Lived 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 December 31, 2020 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 (classified as discontinued operations) 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 131,886,787 158,728,095 December 31, 2020 March 31, 2020 not three nine December 31, 2020 nine December 31, 2019 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 $ 2,531,453 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 2,583,061 Net loss from discontinued operations available to common stockholders (1,186,979 ) 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 $ 2,583,061 325,790,554 $ 0.00 Net loss from discontinued operations $ (1,186,979 ) 325,790,554 $ (0.00 ) Net income $ 1,396,082 325,790,554 $ 0.00 Recent Accounting Pronouncements Recently Adopted Standards In June 2016, No. 2016 13, 326 2016 13" 326 326 326 2016 13 not not December 15, 2022, In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019, April 1, 2020. not All other newly issued but not not |
Note 2 - Going Concern
Note 2 - Going Concern | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Substantial Doubt about Going Concern [Text Block] | Note 2 The Company's 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 $ ( 100,650,610 December 31, 2020 ( 6,135,112 December 31, 2020 969,498 ( 3,884,877 March 31, 2020 349,195 ( 1,253,180 nine December 31, 2020 21,098 ( 4,248,291 ( 1,533,341 nine December 31, 2019 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 Furthermore, Management believes the COVID- 19 may not 19 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 financial statements do not may |
Note 3 - Discontinued Operation
Note 3 - Discontinued Operations | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 3 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 Company has included its subsidiaries GB Sciences Louisiana, LLC, GB Sciences Nevada, LLC, GB Sciences Las Vegas, LLC, and GB Sciences Nopah, LLC in discontinued operations due to the sale of the Company's Louisiana cultivation and extraction facility (Note 10 11 There were no December 31, 2020 March 31, 2020 December 31, 2020 March 31, 2020 December 31, 2020 March 31, 2020 Continuing Discontinued Nevada Subsidiaries Total Continuing Discontinued Nevada Subsidiaries Total ASSETS CURRENT ASSETS Cash $ 771,064 $ 150,293 $ 921,357 $ 2,406 $ 149,360 $ 151,766 Accounts receivable, net - 233,039 233,039 - 117,967 117,967 Inventory, net - 1,662,473 1,662,473 - 1,445,839 1,445,839 Prepaid and other current assets 40,225 39,072 79,297 18,776 42,109 60,885 Note receivable - - - 5,224,423 - 5,224,423 TOTAL CURRENT ASSETS 811,289 2,084,877 2,896,166 5,245,605 1,755,275 7,000,880 Property and equipment, net 28,150 5,022,987 5,051,137 37,821 5,496,012 5,533,833 Intangible assets, net 1,647,376 571,265 2,218,641 1,128,702 571,264 1,699,966 Deposits and other noncurrent assets - 82,904 82,904 - 91,504 91,504 Operating lease right-of-use assets, net - - - - 26,685 26,685 TOTAL ASSETS $ 2,486,815 $ 7,762,033 $ 10,248,848 $ 6,412,128 $ 7,940,740 $ 14,352,868 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,456,695 $ 351,258 $ 1,807,953 $ 1,913,049 $ 646,865 $ 2,559,914 Accrued interest 462,930 39,644 502,574 366,865 30,787 397,652 Accrued expenses 1,110,525 103,559 1,214,084 813,618 74,394 888,012 Notes payable, net 3,726,308 485,000 4,211,308 5,054,728 480,000 5,534,728 Indebtedness to related parties 331,895 - 331,895 586,512 - 586,512 Note payable to related party - - - 151,923 - 151,923 Income tax payable 827,546 - 827,546 592,982 - 592,982 Finance lease obligations, current - 135,918 135,918 - 166,769 166,769 Operating lease obligations, current - - - - 7,265 7,265 TOTAL CURRENT LIABILITIES 7,915,899 1,115,379 9,031,278 9,479,677 1,406,080 10,885,757 Convertible notes payable 283,942 - 283,942 - - - Operating lease obligations, long term - - - - 22,515 22,515 Finance lease obligations, long term - 3,429,704 3,429,704 - 3,533,090 3,533,090 TOTAL LIABILITIES $ 8,199,841 $ 4,545,083 $ 12,744,924 $ 9,479,677 $ 4,961,685 $ 14,441,362 Discontinued Operations - Revenues and Expenses The revenues and expenses associated with discontinued operations included in our condensed consolidated statements of operations for the three nine December 31, 2020 2019 For the Three Months Ended December 31, 2020 2019 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ - $ 1,015,464 $ 1,015,464 $ - $ 446,201 $ 446,201 Cost of goods sold - (596,362 ) (596,362 ) - (869,848 ) (869,848 ) Gross profit/(loss) - 419,102 419,102 - (423,647 ) (423,647 ) General and administrative expenses 670,311 77,064 747,375 1,472,937 937,804 2,410,741 INCOME/(LOSS) FROM OPERATIONS (670,311 ) 342,038 (328,273 ) (1,472,937 ) (1,361,451 ) (2,834,388 ) OTHER INCOME/(EXPENSE) Interest expense (167,120 ) (113,241 ) (280,361 ) (277,813 ) (194,219 ) (472,032 ) Loss on amendment to line of credit (650,000 ) - (650,000 ) - - - Gain/(loss) on extinguishment 467,872 - 467,872 (92,796 ) - (92,796 ) Gain on settlement of accounts payable 372,415 15,972 388,387 - - - Gain on deconsolidation - - - 4,502,058 - 4,502,058 Debt default penalty - - - - - - Other income/(expense) 17,523 (2,442 ) 15,081 (127,059 ) 8,364 (118,695 ) Total other income/(expense) 40,690 (99,711 ) (59,021 ) 4,004,390 (185,855 ) 3,818,535 INCOME/(LOSS) BEFORE INCOME TAXES (629,621 ) 242,327 (387,294 ) 2,531,453 (1,547,306 ) 984,147 Income tax expense (206,690 ) - (206,690 ) - - - NET INCOME/(LOSS) $ (836,311 ) $ 242,327 $ (593,984 ) $ 2,531,453 $ (1,547,306 ) $ 984,147 For the Nine Months Ended December 31, 2020 2019 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ - $ 2,830,932 $ 2,830,932 $ - $ 2,905,582 $ 2,905,582 Cost of goods sold - (1,947,225 ) (1,947,225 ) - (3,731,996 ) (3,731,996 ) Gross profit/(loss) - 883,707 883,707 - (826,414 ) (826,414 ) General and administrative expenses 1,677,482 447,885 2,125,367 4,555,633 1,950,541 6,506,174 INCOME/(LOSS) FROM OPERATIONS (1,677,482 ) 435,822 (1,241,660 ) (4,555,633 ) (2,776,955 ) (7,332,588 ) OTHER INCOME/(EXPENSE) Interest expense (1,249,994 ) (374,383 ) (1,624,377 ) (942,750 ) (568,027 ) (1,510,777 ) Loss on amendment to line of credit (650,000 ) - (650,000 ) - - - Gain/(loss) on extinguishment 467,872 - 467,872 (216,954 ) - (216,954 ) Gain on settlement of accounts payable 372,415 15,972 388,387 - - - Gain on deconsolidation - - - 4,502,058 - 4,502,058 Debt default penalty (286,059 ) - (286,059 ) - - - Other income/(expense) 14,149 (79,890 ) (65,741 ) 89,806 (14,886 ) 74,920 Total other income/(expense) (1,331,617 ) (438,301 ) (1,769,918 ) 3,432,160 (582,913 ) 2,849,247 INCOME/(LOSS) BEFORE INCOME TAXES (3,009,099 ) (2,479 ) (3,011,578 ) (1,123,473 ) (3,359,868 ) (4,483,341 ) Income tax expense (234,564 ) - (234,564 ) - - - NET INCOME/(LOSS) $ (3,243,663 ) $ (2,479 ) $ (3,246,142 ) $ (1,123,473 ) $ (3,359,868 ) $ (4,483,341 ) Discontinued Operations - Revenues and Expenses (continued) The components of revenues and expenses associated with discontinued operations included in our condensed consolidated statements of operations for the three nine December 31, 2020 2019 For the Three Months Ended December 31, 2020 2019 GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations Sales revenue $ - $ 1,015,464 $ 1,015,464 $ 192,070 $ 254,131 $ 446,201 Cost of goods sold - (596,362 ) (596,362 ) (193,915 ) (675,933 ) (869,848 ) Gross profit/(loss) - 419,102 419,102 (1,845 ) (421,802 ) (423,647 ) General and administrative expenses - 77,064 77,064 666,042 271,762 937,804 INCOME/(LOSS) FROM OPERATIONS - 342,038 342,038 (667,887 ) (693,564 ) (1,361,451 ) OTHER EXPENSE Interest expense - (113,241 ) (113,241 ) (52,769 ) (141,450 ) (194,219 ) Gain on settlement of accounts payable - 15,972 15,972 - - Other income/(expense) - (2,442 ) (2,442 ) - 8,364 8,364 Total other expense - (99,711 ) (99,711 ) (52,769 ) (133,086 ) (185,855 ) INCOME/(LOSS) BEFORE INCOME TAXES - 242,327 242,327 (720,656 ) (826,650 ) (1,547,306 ) Income tax expense - - - - - - NET INCOME/(LOSS) $ - $ 242,327 $ 242,327 $ (720,656 ) $ (826,650 ) $ (1,547,306 ) For the Nine Months Ended December 31, 2020 2019 GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations Sales revenue $ - $ 2,830,932 $ 2,830,932 $ 569,077 $ 2,336,505 $ 2,905,582 Cost of goods sold - (1,947,225 ) (1,947,225 ) (574,544 ) (3,157,452 ) (3,731,996 ) Gross profit/(loss) - 883,707 883,707 (5,467 ) (820,947 ) (826,414 ) General and administrative expenses - 447,885 447,885 1,292,613 657,928 1,950,541 INCOME/(LOSS) FROM OPERATIONS - 435,822 435,822 (1,298,080 ) (1,478,875 ) (2,776,955 ) OTHER EXPENSE Interest expense - (374,383 ) (374,383 ) (178,140 ) (389,887 ) (568,027 ) Gain on settlement of accounts payable - 15,972 15,972 - - - Other expense - (79,890 ) (79,890 ) - (14,886 ) (14,886 ) Total other expense - (438,301 ) (438,301 ) (178,140 ) (404,773 ) (582,913 ) INCOME/(LOSS) BEFORE INCOME TAXES - (2,479 ) (2,479 ) (1,476,220 ) (1,883,648 ) (3,359,868 ) Income tax expense - - - - - NET INCOME/(LOSS) $ - $ (2,479 ) $ (2,479 ) $ (1,476,220 ) $ (1,883,648 ) $ (3,359,868 ) Discontinued Operations - Inventory 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, and extracts in bulk and packaged forms. Inventory is included in current assets from discontinued operations in the Company's unaudited condensed consolidated balance sheets at December 31, 2020 March 31, 2020 December 31, 2020 March 31, 2020 Raw materials $ 2,573 $ 91,465 Work in progress 1,008,164 1,166,511 Finished goods 651,736 466,319 Subtotal 1,662,473 1,724,295 Allowance to reduce inventory to net realizable value - (278,456 ) Total inventory, net $ 1,662,473 $ 1,445,839 Discontinued Operations - Leases 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 2024 2025. 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 All finance lease costs recorded in the Company's unaudited condensed consolidated financial statements for the three nine December 31, 2020 2019 nine December 31, 2020 428,487 312,463 116,024 Amortization of lease assets is included in income/(loss) from discontinued operations. As of December 31, 2020 no December 31, 2020 Year Ending March 31, Finance Leases 2021 (3 months) $ 135,061 2022 544,296 2023 560,625 2024 577,444 2025 594,767 Thereafter 3,781,102 Total minimum lease payments 6,193,295 Less: Amount representing interest (2,627,673 ) Present value of minimum lease payments 3,565,622 Less: Current maturities of capital lease obligations (135,918 ) Long-term capital lease obligations $ 3,429,704 |
Note 4 - Leases (Continuing Ope
Note 4 - Leases (Continuing Operations) | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Lessee, Operating and Finance Leases [Text Block] | Note 4 As a result of the adoption of ASC 842, $182,624, $190,173 April 1, 2019, Operating leases are included in discontinued operations under operating right-of-use assets, net and operating lease obligations, short and long term on the unaudited condensed consolidated balance sheets. Lease terms include options to extend when it is reasonably certain that the option will be exercised. Leases with a term of 12 not There are no $3,243, $1,242 $2,001 December 31, 2020 no |
Note 5 - Notes Payable and Line
Note 5 - Notes Payable and Line of Credit | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 5 0% October 23, 2017 On October 23, 2017, 100% 100% one $500,000 0% $700,000 three January 1, 2018. $521,067 20.3% $178,933 To date, the company has made principal payments totaling $330,555 369,445 December 31, 2020 nine December 31, 2020 $13,929 December 31, 2020 $0. On August 10, 2020, 11 $190,272 July 31, 2021, no no 15% 8% November 27, 2019 In connection with the Binding Letter of Intent dated November 27, 2019 ( 11 $470,000 December 31, 2020 485,000 $15,000. $29,200 nine December 31, 2020 485,000 December 31, 2020 8% May 7, 2020 On May 7, 2020, $135,000 $15,000 $150,000 8.0% first $8,000,000 10 11 8,002,500 $0.04. $272,085 $49,525 $222,560. $150,000. nine December 31, 2020 $154,964 $4,964 $150,000 $154,964 October 5, 2020 8% July 24, 2020 On July 24, 2020, 8% "July 24 $500,000 may 8% February 28, 2019 ( 6 July 24 $4,000,000 11 3 July 24 may On December 29, 2020, 11 $975,000 three $325,000 July 24 $3,025,000. July 24 $325,000 one $4,000,000 not July 24 $650,000 two $325,000 $325,000 July 24 $50,000 $325,000 $1,025,000 December 31, 2020 $5,112 nine December 31, 2020 Summary of Notes and Convertible Notes Payable As of December 31, 2020 As of December 31, 2020 Short-Term Notes Payable Face Value Discount Carrying Value 0% Note Payable dated October 23, 2017 (Note 5) $ 369,445 $ - $ 369,445 8% Line of Credit dated November 27, 2019 (Note 5) 485,000 - 485,000 8% Line of Credit dated July 24, 2020 (Note 5) 1,025,000 - 1,025,000 6% Convertible promissory notes payable (Note 6) 1,060,000 - 1,060,000 8% Convertible Secured Promissory Note dated February 28, 2019, as amended (Note 6) 1,271,863 - 1,271,863 Total short-term notes payable 4,211,308 - 4,211,308 Less: Notes payable classified as discontinued operations (485,000 ) - (485,000 ) Total short-term notes payable classified as continuing operations $ 3,726,308 $ - $ 3,726,308 6% Convertible promissory notes payable due September 30, 2023 (Note 6) 197,000 (43,752 ) 153,248 6% Convertible note payable due December 31, 2023 (Note 6) 150,000 (19,306 ) 130,694 Total long-term notes payable classified as continuing operations $ 347,000 $ (63,058 ) $ 283,942 |
Note 6 - Convertible Notes
Note 6 - Convertible Notes | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Convertible Debt [Text Block] | Note 6 March 2017 July 2017 In March 2017, third $1,000 6% 4,000 $0.25 4,000 $0.60 three March 2017 May 2017, $2,000,000. three 8,000,000 8,000,000 one $0.60 three $1,933,693, $904,690 $1,029,003 In July, 2017, third $1,000 6% 4,000 $0.25 4,000 $0.65 three July 2017 December 2017, $7,201,000. three 28,804,000 28,804,000 one $0.60 three $7,092,796, $3,142,605 $3,950,191 All notes from the March July 2017 December 31, 2020 $197,000 $1,257,000 $197,000 $0.10 788,000 three $0.10 September 30, 2023. $13,396 $33,490. 10% $46,886 $6,114 three December 31, 2020 $3,134 $197,000 $41,417 December 31, 2020 Three convertible notes totaling $1,060,000 not nine December 31, 2020 $191,191, $143,273 $1,060,000 $212,591 December 31, 2020 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% $176,471 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 The Company 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 March 31, 2020. 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 On December 29, 2020, 11 November 30, 2020. nine December 31, 2020 $477,500 $68,019 $409,481 December 31, 2020 1,271,863 no $1,416,857 $4,000,000 11 no 8% April 23, 2019 On April 23, 2019, 8% $2,765,000. $265,000 $0.17 April 22, 2020. $440,000 $265,000 $175,000 During the year ended March 31, 2020, $125,000 October 30, 2019, $75,000 $0.06 1,250,000 $64,706, November 18, 2019, $50,000 $0.0375 1,333,333 On April 22, 2020, 10%. $9,559 10% $276,500 10% On May 20, 2020, July 14, 2020, $3,264,594 15% On November 20, 2020, $3,006,014 10 December 8, 2020. December 8, 2020, December 9, 2020, $25,000 $25,000 $3,006,014 not December 16, 2020, $3,006,014 December 18, 2020, no During the nine December 31, 2020 $379,956, $29,831 $140,833 $209,292 $25,000 $3,264,594 $209,292 $3,473,886, 467,872 December 2020 $500,000 6% On December 18, 2020, $500,000 6.0% 19 $0.05 December 31, 2023. Prior to December 31, 2020 $150,000 no $130,500, $19,500. $514 nine December 31, 2020 $194 $320 December 31, 2020 |
Note 7 - Capital Transactions
Note 7 - Capital Transactions | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 7 Sale of Common Stock and Exercise of Warrants On April 1, 2020, $0.03 $.05 8,277,851 nine December 31, 2020 224,824 ( 24,983 During the nine December 31, 2020 3,500,000 one $0.05 ten $168,000 During the nine December 31, 2020 788,000 three $0.10 three $197,000. $13,396 6 On November 16,2020, 450,000 $0.03. November 16, 2025 June 1, 2023. $4,950 $11,250 $6,300. On December 7, 2020, 3,500,000 $0.04 ten $133,000 $133,000 On December 15, 2020, 3,250,000 $0.05 ten one third one third one one third two $156,000 $58,500 nine December 31, 2020 $97,500 December 31, 2020 On December 15, 2020, 6,050,000 $0.05, $199,600 $250,650 $51,050. At December 31, 2020 67,074,495 $0.08 $1.00 18,916,334 $0.19 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 9 Months Ended |
Dec. 31, 2020 | |
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. August 4, 2020, first $250,000 twelve September 30, 2020, twelve On August 24, 2020, $250,000 no 10 Tara “Dee” Russell filed a Charge of Discrimination with the Nevada Equal Rights Commission ("NERC") against the Company on April 2, 2019, May 15, 2019. July 26, 2019. not not On April 22, 2020, May 20, 2020, July 14, 2020, $3,264,594. December 16, 2020 $3,006,014 6 On April 22, 2020, $73,050 September 17, 2020, $25,000 $48,050. From time to time, the Company may not |
Note 9 - Related Party Transact
Note 9 - Related Party Transactions | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 9 As of December 31, 2020 $276,484 On November 16, 2020, $20,000 $60,411 $5,000 December 31, 2020 $55,411. 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 August 4, 2020, first |
Note 10 - Sale of Membership In
Note 10 - Sale of Membership Interests in GB Sciences Louisiana, LLC | 9 Months Ended |
Dec. 31, 2020 | |
GB Sciences Louisiana, LLC, Sale of Equity [Member] | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 10 On November 15, 2019, 50.01% $8,000,000 $8,000,000 November 2019. On August 24, 2020, $5,224,423, $151,923, $172,500 $4,900,000 October 15, 2020, $8,000,000 $250,000 8 no $750,000 September 1, 2020 $500,000. August 24, 2020 March 31, 2020 5,224,423 $1,895,434 March 31, 2020 The Company received payments from Wellcana totaling $550,000 August September 2020, $151,923 $172,500 $4,350,000. On October 15, 2020 $4,350,000 October 15, 2020, $4,350,000 December 8, 2020. $4,350,000 $250,000, $4,350,000 December 8, 2020. October 24, 2020, $250,000 October 29, 2020. On December 8, 2020, $250,000 $50,000 December 8, 2020, not $4,350,000 December 16, 2020, $4,150,000, |
Note 11 - Sale of Membership In
Note 11 - Sale of Membership Interests in Nevada Subsidiaries | 9 Months Ended |
Dec. 31, 2020 | |
Nevada Subsidiaries [Member] | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 11 On November 15, 2019, 75% $3.0 $3.0 $470,000 5 8% 8% February 28, 2019 ( 6 On March 24, 2020, 100% $4,000,000 $4,000,000 8% 36 On July 24, 2020, 8% "July 24 $500,000 may 8% February 28, 2019 ( 6 July 24 $4,000,000 3 July 24 $375,000 July 24 5 On December 29, 2020, 11 $975,000 $3,025,000 $325,000 one three not July 24 $650,000 July 24 three $325,000, $1,025,000, $4,000,000 The Omnibus Amendment also amends the Management Services Agreement to provide that no November 30, 2020. December 31, 2020 $850,000 $4,000,000 three 5 1/2 The sale is expected to close upon the successful transfer of the Nevada cultivation and production licenses. The transfer of cannabis licenses in the State of Nevada was subject to an indefinite moratorium beginning in October 2019. July 21, 2020, 90 19 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% August 10, 2020, $300,000 $300,000 0% October 23, 2017, Because the moratorium on license transfers has been lifted, the Company determined that the Teco Facility and Nopah Facility qualify for presentation as discontinued operations, and the income, assets, and cash flows of the Teco Subsidiaries and GB Sciences Nopah, LLC have been reclassified as discontinued operations for all periods presented in the Company's condensed consolidated financial statements. |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 9 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 12 Capital Transactions Subsequent to December 31, 2020 9,701,991 $0.03 $261,938, $29,104 Settlement Agreement On January 2, 2021, $57,000 $114,000 $57,000 January 4, 2020. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Dec. 31, 2020 | |
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, 2021. March 31, 2020 not 10 March 31, 2020 |
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 and standard cost allocations, 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, Comparability Adjustment [Policy Text Block] | Reclassifications Certain reclassifications have been made to the comparative period amounts to conform to the current period presentation. Certain items on the unaudited balance sheets and statements of operations and cash flows have been reclassified to conform with current period presentation. The assets, liabilities, income/(loss), and cash flows of GB Sciences Louisiana, LLC, GB Sciences Nevada, LLC, GB Sciences Las Vegas, LLC, and GB Sciences Nopah, LLC have been reclassified to discontinued operations due to the sale of the Company's Louisiana cultivation and extraction facility (Note 10 11 |
Discontinued Operations, Policy [Policy Text Block] | Discontinued Operations Refer to Note 3. |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-Lived 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 December 31, 2020 |
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 (classified as discontinued operations) 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 131,886,787 158,728,095 December 31, 2020 March 31, 2020 not three nine December 31, 2020 nine December 31, 2019 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 $ 2,531,453 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 2,583,061 Net loss from discontinued operations available to common stockholders (1,186,979 ) 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 $ 2,583,061 325,790,554 $ 0.00 Net loss from discontinued operations $ (1,186,979 ) 325,790,554 $ (0.00 ) Net income $ 1,396,082 325,790,554 $ 0.00 |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Recently Adopted Standards In June 2016, No. 2016 13, 326 2016 13" 326 326 326 2016 13 not not December 15, 2022, In August 2018, 2018 13, Fair Value Measurement (Topic 820 December 15, 2019, April 1, 2020. not All other newly issued but not not |
Note 1 - Background and Signi_2
Note 1 - Background and Significant Accounting Policies (Tables) | 9 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
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 $ 2,531,453 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 2,583,061 Net loss from discontinued operations available to common stockholders (1,186,979 ) 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 $ 2,583,061 325,790,554 $ 0.00 Net loss from discontinued operations $ (1,186,979 ) 325,790,554 $ (0.00 ) Net income $ 1,396,082 325,790,554 $ 0.00 |
Note 3 - Discontinued Operati_2
Note 3 - Discontinued Operations (Tables) | 9 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | December 31, 2020 March 31, 2020 Continuing Discontinued Nevada Subsidiaries Total Continuing Discontinued Nevada Subsidiaries Total ASSETS CURRENT ASSETS Cash $ 771,064 $ 150,293 $ 921,357 $ 2,406 $ 149,360 $ 151,766 Accounts receivable, net - 233,039 233,039 - 117,967 117,967 Inventory, net - 1,662,473 1,662,473 - 1,445,839 1,445,839 Prepaid and other current assets 40,225 39,072 79,297 18,776 42,109 60,885 Note receivable - - - 5,224,423 - 5,224,423 TOTAL CURRENT ASSETS 811,289 2,084,877 2,896,166 5,245,605 1,755,275 7,000,880 Property and equipment, net 28,150 5,022,987 5,051,137 37,821 5,496,012 5,533,833 Intangible assets, net 1,647,376 571,265 2,218,641 1,128,702 571,264 1,699,966 Deposits and other noncurrent assets - 82,904 82,904 - 91,504 91,504 Operating lease right-of-use assets, net - - - - 26,685 26,685 TOTAL ASSETS $ 2,486,815 $ 7,762,033 $ 10,248,848 $ 6,412,128 $ 7,940,740 $ 14,352,868 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,456,695 $ 351,258 $ 1,807,953 $ 1,913,049 $ 646,865 $ 2,559,914 Accrued interest 462,930 39,644 502,574 366,865 30,787 397,652 Accrued expenses 1,110,525 103,559 1,214,084 813,618 74,394 888,012 Notes payable, net 3,726,308 485,000 4,211,308 5,054,728 480,000 5,534,728 Indebtedness to related parties 331,895 - 331,895 586,512 - 586,512 Note payable to related party - - - 151,923 - 151,923 Income tax payable 827,546 - 827,546 592,982 - 592,982 Finance lease obligations, current - 135,918 135,918 - 166,769 166,769 Operating lease obligations, current - - - - 7,265 7,265 TOTAL CURRENT LIABILITIES 7,915,899 1,115,379 9,031,278 9,479,677 1,406,080 10,885,757 Convertible notes payable 283,942 - 283,942 - - - Operating lease obligations, long term - - - - 22,515 22,515 Finance lease obligations, long term - 3,429,704 3,429,704 - 3,533,090 3,533,090 TOTAL LIABILITIES $ 8,199,841 $ 4,545,083 $ 12,744,924 $ 9,479,677 $ 4,961,685 $ 14,441,362 For the Three Months Ended December 31, 2020 2019 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ - $ 1,015,464 $ 1,015,464 $ - $ 446,201 $ 446,201 Cost of goods sold - (596,362 ) (596,362 ) - (869,848 ) (869,848 ) Gross profit/(loss) - 419,102 419,102 - (423,647 ) (423,647 ) General and administrative expenses 670,311 77,064 747,375 1,472,937 937,804 2,410,741 INCOME/(LOSS) FROM OPERATIONS (670,311 ) 342,038 (328,273 ) (1,472,937 ) (1,361,451 ) (2,834,388 ) OTHER INCOME/(EXPENSE) Interest expense (167,120 ) (113,241 ) (280,361 ) (277,813 ) (194,219 ) (472,032 ) Loss on amendment to line of credit (650,000 ) - (650,000 ) - - - Gain/(loss) on extinguishment 467,872 - 467,872 (92,796 ) - (92,796 ) Gain on settlement of accounts payable 372,415 15,972 388,387 - - - Gain on deconsolidation - - - 4,502,058 - 4,502,058 Debt default penalty - - - - - - Other income/(expense) 17,523 (2,442 ) 15,081 (127,059 ) 8,364 (118,695 ) Total other income/(expense) 40,690 (99,711 ) (59,021 ) 4,004,390 (185,855 ) 3,818,535 INCOME/(LOSS) BEFORE INCOME TAXES (629,621 ) 242,327 (387,294 ) 2,531,453 (1,547,306 ) 984,147 Income tax expense (206,690 ) - (206,690 ) - - - NET INCOME/(LOSS) $ (836,311 ) $ 242,327 $ (593,984 ) $ 2,531,453 $ (1,547,306 ) $ 984,147 For the Nine Months Ended December 31, 2020 2019 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ - $ 2,830,932 $ 2,830,932 $ - $ 2,905,582 $ 2,905,582 Cost of goods sold - (1,947,225 ) (1,947,225 ) - (3,731,996 ) (3,731,996 ) Gross profit/(loss) - 883,707 883,707 - (826,414 ) (826,414 ) General and administrative expenses 1,677,482 447,885 2,125,367 4,555,633 1,950,541 6,506,174 INCOME/(LOSS) FROM OPERATIONS (1,677,482 ) 435,822 (1,241,660 ) (4,555,633 ) (2,776,955 ) (7,332,588 ) OTHER INCOME/(EXPENSE) Interest expense (1,249,994 ) (374,383 ) (1,624,377 ) (942,750 ) (568,027 ) (1,510,777 ) Loss on amendment to line of credit (650,000 ) - (650,000 ) - - - Gain/(loss) on extinguishment 467,872 - 467,872 (216,954 ) - (216,954 ) Gain on settlement of accounts payable 372,415 15,972 388,387 - - - Gain on deconsolidation - - - 4,502,058 - 4,502,058 Debt default penalty (286,059 ) - (286,059 ) - - - Other income/(expense) 14,149 (79,890 ) (65,741 ) 89,806 (14,886 ) 74,920 Total other income/(expense) (1,331,617 ) (438,301 ) (1,769,918 ) 3,432,160 (582,913 ) 2,849,247 INCOME/(LOSS) BEFORE INCOME TAXES (3,009,099 ) (2,479 ) (3,011,578 ) (1,123,473 ) (3,359,868 ) (4,483,341 ) Income tax expense (234,564 ) - (234,564 ) - - - NET INCOME/(LOSS) $ (3,243,663 ) $ (2,479 ) $ (3,246,142 ) $ (1,123,473 ) $ (3,359,868 ) $ (4,483,341 ) For the Three Months Ended December 31, 2020 2019 GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations Sales revenue $ - $ 1,015,464 $ 1,015,464 $ 192,070 $ 254,131 $ 446,201 Cost of goods sold - (596,362 ) (596,362 ) (193,915 ) (675,933 ) (869,848 ) Gross profit/(loss) - 419,102 419,102 (1,845 ) (421,802 ) (423,647 ) General and administrative expenses - 77,064 77,064 666,042 271,762 937,804 INCOME/(LOSS) FROM OPERATIONS - 342,038 342,038 (667,887 ) (693,564 ) (1,361,451 ) OTHER EXPENSE Interest expense - (113,241 ) (113,241 ) (52,769 ) (141,450 ) (194,219 ) Gain on settlement of accounts payable - 15,972 15,972 - - Other income/(expense) - (2,442 ) (2,442 ) - 8,364 8,364 Total other expense - (99,711 ) (99,711 ) (52,769 ) (133,086 ) (185,855 ) INCOME/(LOSS) BEFORE INCOME TAXES - 242,327 242,327 (720,656 ) (826,650 ) (1,547,306 ) Income tax expense - - - - - - NET INCOME/(LOSS) $ - $ 242,327 $ 242,327 $ (720,656 ) $ (826,650 ) $ (1,547,306 ) For the Nine Months Ended December 31, 2020 2019 GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations GB Sciences Louisiana, LLC Nevada Subsidiaries Total Discontinued Operations Sales revenue $ - $ 2,830,932 $ 2,830,932 $ 569,077 $ 2,336,505 $ 2,905,582 Cost of goods sold - (1,947,225 ) (1,947,225 ) (574,544 ) (3,157,452 ) (3,731,996 ) Gross profit/(loss) - 883,707 883,707 (5,467 ) (820,947 ) (826,414 ) General and administrative expenses - 447,885 447,885 1,292,613 657,928 1,950,541 INCOME/(LOSS) FROM OPERATIONS - 435,822 435,822 (1,298,080 ) (1,478,875 ) (2,776,955 ) OTHER EXPENSE Interest expense - (374,383 ) (374,383 ) (178,140 ) (389,887 ) (568,027 ) Gain on settlement of accounts payable - 15,972 15,972 - - - Other expense - (79,890 ) (79,890 ) - (14,886 ) (14,886 ) Total other expense - (438,301 ) (438,301 ) (178,140 ) (404,773 ) (582,913 ) INCOME/(LOSS) BEFORE INCOME TAXES - (2,479 ) (2,479 ) (1,476,220 ) (1,883,648 ) (3,359,868 ) Income tax expense - - - - - NET INCOME/(LOSS) $ - $ (2,479 ) $ (2,479 ) $ (1,476,220 ) $ (1,883,648 ) $ (3,359,868 ) |
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | December 31, 2020 March 31, 2020 Raw materials $ 2,573 $ 91,465 Work in progress 1,008,164 1,166,511 Finished goods 651,736 466,319 Subtotal 1,662,473 1,724,295 Allowance to reduce inventory to net realizable value - (278,456 ) Total inventory, net $ 1,662,473 $ 1,445,839 |
Finance Lease, Liability, Fiscal Year Maturity [Table Text Block] | Year Ending March 31, Finance Leases 2021 (3 months) $ 135,061 2022 544,296 2023 560,625 2024 577,444 2025 594,767 Thereafter 3,781,102 Total minimum lease payments 6,193,295 Less: Amount representing interest (2,627,673 ) Present value of minimum lease payments 3,565,622 Less: Current maturities of capital lease obligations (135,918 ) Long-term capital lease obligations $ 3,429,704 |
Note 5 - Notes Payable and Li_2
Note 5 - Notes Payable and Line of Credit (Tables) | 9 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of December 31, 2020 Short-Term Notes Payable Face Value Discount Carrying Value 0% Note Payable dated October 23, 2017 (Note 5) $ 369,445 $ - $ 369,445 8% Line of Credit dated November 27, 2019 (Note 5) 485,000 - 485,000 8% Line of Credit dated July 24, 2020 (Note 5) 1,025,000 - 1,025,000 6% Convertible promissory notes payable (Note 6) 1,060,000 - 1,060,000 8% Convertible Secured Promissory Note dated February 28, 2019, as amended (Note 6) 1,271,863 - 1,271,863 Total short-term notes payable 4,211,308 - 4,211,308 Less: Notes payable classified as discontinued operations (485,000 ) - (485,000 ) Total short-term notes payable classified as continuing operations $ 3,726,308 $ - $ 3,726,308 6% Convertible promissory notes payable due September 30, 2023 (Note 6) 197,000 (43,752 ) 153,248 6% Convertible note payable due December 31, 2023 (Note 6) 150,000 (19,306 ) 130,694 Total long-term notes payable classified as continuing operations $ 347,000 $ (63,058 ) $ 283,942 |
Note 1 - Background and Signi_3
Note 1 - Background and Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 9 Months Ended | 12 Months Ended |
Dec. 31, 2020 | Mar. 31, 2020 | |
Impairment of Long-Lived Assets Held-for-use | $ 0 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | 131,886,787 | 158,728,095 |
Note 1 - Background and Signi_4
Note 1 - Background and Significant Accounting Policies - Earnings (Loss) Per Share (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | |
Net income from continuing operations available to common stockholders | $ (836,311) | $ 2,531,453 | $ (3,243,663) | $ (1,123,473) |
Interest expense on convertible notes payable | 51,608 | |||
Effect of assumed conversions | 51,608 | |||
Income from continuing operations plus assumed conversions | (836,311) | 2,583,061 | (3,243,663) | (1,123,473) |
Net loss from discontinued operations available to common stockholders | 242,327 | (1,186,979) | (2,479) | (2,621,761) |
Net income available to common stockholders | $ (593,984) | $ 1,396,082 | $ (3,246,142) | $ (3,745,234) |
Weighted-average common shares outstanding (in shares) | 280,967,623 | 263,055,254 | 280,119,116 | 253,297,660 |
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) | 280,967,623 | 325,790,554 | 280,119,116 | 253,297,660 |
Net income from continuing operations per common share diluted (in dollars per share) | $ 0 | $ 0 | $ (0.01) | $ 0 |
Net loss from discontinued operations per common share diluted (in dollars per share) | 0 | 0 | 0 | (0.01) |
Net income (in dollars per share) | $ 0 | $ 0 | $ (0.01) | $ (0.01) |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | 9 Months Ended | ||
Dec. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2020 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (100,650,610) | $ (97,387,205) | |
Working Capital (Deficit) | (6,135,112) | (3,884,877) | |
Net Cash Provided by (Used in) Operating Activities, Total | (1,253,180) | $ (4,248,291) | |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | 21,098 | $ (1,533,341) | |
Discontinued Operations [Member] | |||
Working Capital (Deficit) | $ 969,498 | $ 349,195 |
Note 3 - Discontinued Operati_3
Note 3 - Discontinued Operations (Details Textual) - USD ($) | 9 Months Ended | ||
Dec. 31, 2020 | Mar. 31, 2020 | Apr. 01, 2019 | |
Lessee, Operating Lease, Discount Rate | 17.00% | ||
Discontinued Operations [Member] | |||
Operating Lease, Right-of-Use Asset | $ 26,685 | ||
Finance Lease Costs | 428,487 | ||
Finance Lease, Interest Expense | 312,463 | ||
Finance Lease, Right-of-Use Asset, Amortization | $ 116,024 | ||
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 | ||
GB Sciences Louisiana, LLC [Member] | |||
Disposal Group, Including Discontinued Operation, Assets, Total | $ 0 | 0 | |
Disposal Group, Including Discontinued Operation, Liabilities, Total | $ 0 | $ 0 |
Note 3 - Discontinued Operati_4
Note 3 - Discontinued Operations - Discontinued Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Dec. 31, 2020 | Dec. 31, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2020 | |
Cash and cash equivalents | $ 771,064 | $ 771,064 | $ 2,406 | ||
Prepaid and other current assets | 40,225 | 40,225 | 18,776 | ||
Note receivable | 5,224,423 | ||||
TOTAL CURRENT ASSETS | 2,896,166 | 2,896,166 | 7,000,880 | ||
Property and equipment, net | 28,150 | 28,150 | 37,821 | ||
Intangible assets, net | 1,647,376 | 1,647,376 | 1,128,702 | ||
TOTAL ASSETS | 10,248,848 | 10,248,848 | 14,352,868 | ||
Accounts payable | 1,456,695 | 1,456,695 | 1,913,049 | ||
Accrued interest | 462,930 | 462,930 | 366,865 | ||
Accrued liabilities | 1,110,525 | 1,110,525 | 813,618 | ||
Notes Payable, Current, Total | 3,726,308 | 3,726,308 | 5,054,728 | ||
Indebtedness to related parties | 331,895 | 331,895 | 586,512 | ||
Note payable to related party | 151,923 | ||||
Income tax payable | 827,546 | 827,546 | 592,982 | ||
TOTAL CURRENT LIABILITIES | 9,031,278 | 9,031,278 | 10,885,757 | ||
Convertible notes payable, net of unamortized discount of $63,058 and $0 at December 31, 2020 and March 31, 2020, respectively | 283,942 | 283,942 | |||
TOTAL LIABILITIES | 12,744,924 | 12,744,924 | 14,441,362 | ||
Sales revenue | |||||
Cost of goods sold | |||||
Gross profit | |||||
General and administrative expenses | 670,311 | 1,472,937 | 1,677,482 | 4,555,633 | |
LOSS FROM OPERATIONS | (670,311) | (1,472,937) | (1,677,482) | (4,555,633) | |
Interest expense | (167,120) | (277,813) | (1,249,994) | (942,750) | |
Loss on amendment to line of credit | (650,000) | (650,000) | |||
Gain/(loss) on extinguishment | 467,872 | (92,796) | 467,872 | (216,954) | |
Gain on settlement of accounts payable | 372,415 | 372,415 | |||
Gain on deconsolidation | 4,502,058 | 4,502,058 | |||
Debt default penalty | (286,059) | ||||
Other income/(expense) | 17,523 | (127,059) | 14,149 | 89,806 | |
Total other income/(expense) | 40,690 | 4,004,390 | (1,331,617) | 3,432,160 | |
INCOME/(LOSS) BEFORE INCOME TAXES | (629,621) | 2,531,453 | (3,009,099) | (1,123,473) | |
Income tax expense | (206,690) | (234,564) | |||
NET INCOME/(LOSS) | (593,984) | 984,147 | (3,246,142) | (4,483,341) | |
NET INCOME/(LOSS) | 242,327 | (1,547,306) | (2,479) | (3,359,868) | |
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | |||||
Inventory, net | 1,662,473 | 1,662,473 | 1,445,839 | ||
Finance lease obligations, current | 135,918 | 135,918 | |||
Long-term capital lease obligations, finance leases | 3,429,704 | 3,429,704 | |||
Sales revenue | 1,015,464 | 446,201 | 2,830,932 | 2,905,582 | |
Cost of goods sold | (596,362) | (869,848) | (1,947,225) | (3,731,996) | |
Gross profit/(loss) | 419,102 | (423,647) | 883,707 | (826,414) | |
General and administrative expenses | 77,064 | 937,804 | 447,885 | 1,950,541 | |
INCOME/(LOSS) FROM OPERATIONS | 342,038 | (1,361,451) | 435,822 | (2,776,955) | |
Interest expense | (113,241) | (194,219) | (374,383) | (568,027) | |
Gain on settlement of accounts payable | 15,972 | 15,972 | |||
Other income/(expense) | (2,442) | (79,890) | (14,886) | ||
Other income/(expense) | 8,364 | ||||
Total other expense | (99,711) | (185,855) | (438,301) | (582,913) | |
INCOME/(LOSS) BEFORE INCOME TAXES | 242,327 | (1,547,306) | (2,479) | (3,359,868) | |
Income tax expense | |||||
NET INCOME/(LOSS) | 242,327 | (1,547,306) | (2,479) | (3,359,868) | |
GB Sciences Louisiana, LLC [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | |||||
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 | 1,292,613 | |||
INCOME/(LOSS) FROM OPERATIONS | (667,887) | (1,298,080) | |||
Interest expense | (52,769) | (178,140) | |||
Gain on settlement of accounts payable | |||||
Other income/(expense) | |||||
Total other expense | (52,769) | (178,140) | |||
INCOME/(LOSS) BEFORE INCOME TAXES | (720,656) | (1,476,220) | |||
Income tax expense | |||||
NET INCOME/(LOSS) | (720,656) | (1,476,220) | |||
Nevada Subsidiaries [Member] | Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | |||||
Sales revenue | 1,015,464 | 254,131 | 2,830,932 | 2,336,505 | |
Cost of goods sold | (596,362) | (675,933) | (1,947,225) | (3,157,452) | |
Gross profit/(loss) | 419,102 | (421,802) | 883,707 | (820,947) | |
General and administrative expenses | 77,064 | 271,762 | 447,885 | 657,928 | |
INCOME/(LOSS) FROM OPERATIONS | 342,038 | (693,564) | 435,822 | (1,478,875) | |
Interest expense | (113,241) | (141,450) | (374,383) | (389,887) | |
Gain on settlement of accounts payable | 15,972 | 15,972 | |||
Other income/(expense) | (2,442) | (79,890) | (14,886) | ||
Other income/(expense) | 8,364 | ||||
Total other expense | (99,711) | (133,086) | (438,301) | (404,773) | |
INCOME/(LOSS) BEFORE INCOME TAXES | 242,327 | (826,650) | (2,479) | (1,883,648) | |
Income tax expense | |||||
NET INCOME/(LOSS) | 242,327 | (826,650) | (2,479) | (1,883,648) | |
Continuing Operations [Member] | |||||
Cash and cash equivalents | 771,064 | 771,064 | 2,406 | ||
Accounts receivable, net | |||||
Inventory, net | |||||
Prepaid and other current assets | 40,225 | 40,225 | 18,776 | ||
Note receivable | 5,224,423 | ||||
TOTAL CURRENT ASSETS | 811,289 | 811,289 | 5,245,605 | ||
Property and equipment, net | 28,150 | 28,150 | 37,821 | ||
Intangible assets, net | 1,647,376 | 1,647,376 | 1,128,702 | ||
Deposits and other noncurrent assets | |||||
Operating lease right-of-use assets, net | |||||
TOTAL ASSETS | 2,486,815 | 2,486,815 | 6,412,128 | ||
Accounts payable | 1,456,695 | 1,456,695 | 1,913,049 | ||
Accrued interest | 462,930 | 462,930 | 366,865 | ||
Accrued liabilities | 1,110,525 | 1,110,525 | 813,618 | ||
Notes Payable, Current, Total | 3,726,308 | 3,726,308 | 5,054,728 | ||
Indebtedness to related parties | 331,895 | 331,895 | 586,512 | ||
Note payable to related party | 151,923 | ||||
Income tax payable | 827,546 | 827,546 | 592,982 | ||
Finance lease obligations, current | |||||
Operating lease obligations, current | |||||
TOTAL CURRENT LIABILITIES | 7,915,899 | 7,915,899 | 9,479,677 | ||
Convertible notes payable, net of unamortized discount of $63,058 and $0 at December 31, 2020 and March 31, 2020, respectively | 283,942 | 283,942 | |||
Operating lease obligations, long term | |||||
Long-term capital lease obligations, finance leases | |||||
TOTAL LIABILITIES | 8,199,841 | 8,199,841 | 9,479,677 | ||
Sales revenue | |||||
Cost of goods sold | |||||
Gross profit | |||||
General and administrative expenses | 670,311 | 1,472,937 | 1,677,482 | 4,555,633 | |
LOSS FROM OPERATIONS | (670,311) | (1,472,937) | (1,677,482) | (4,555,633) | |
Interest expense | (167,120) | (277,813) | (1,249,994) | (942,750) | |
Loss on amendment to line of credit | (650,000) | (650,000) | |||
Gain/(loss) on extinguishment | 467,872 | (92,796) | 467,872 | (216,954) | |
Gain on settlement of accounts payable | 372,415 | 372,415 | |||
Gain on deconsolidation | 4,502,058 | 4,502,058 | |||
Debt default penalty | (286,059) | ||||
Other income/(expense) | 17,523 | (127,059) | 14,149 | 89,806 | |
Total other income/(expense) | 40,690 | 4,004,390 | (1,331,617) | 3,432,160 | |
INCOME/(LOSS) BEFORE INCOME TAXES | (629,621) | 2,531,453 | (3,009,099) | (1,123,473) | |
Income tax expense | (206,690) | (234,564) | |||
NET INCOME/(LOSS) | (836,311) | 2,531,453 | (3,243,663) | (1,123,473) | |
Discontinued Operations [Member] | |||||
Cash and cash equivalents | 150,293 | 150,293 | 149,360 | ||
Accounts receivable, net | 233,039 | 233,039 | 117,967 | ||
Inventory, net | 1,662,473 | 1,662,473 | 1,445,839 | ||
Prepaid and other current assets | 39,072 | 39,072 | 42,109 | ||
Note receivable | |||||
TOTAL CURRENT ASSETS | 2,084,877 | 2,084,877 | 1,755,275 | ||
Property and equipment, net | 5,022,987 | 5,022,987 | 5,496,012 | ||
Intangible assets, net | 571,265 | 571,265 | 571,264 | ||
Deposits and other noncurrent assets | 82,904 | 82,904 | 91,504 | ||
Operating lease right-of-use assets, net | 26,685 | ||||
TOTAL ASSETS | 7,762,033 | 7,762,033 | 7,940,740 | ||
Accounts payable | 351,258 | 351,258 | 646,865 | ||
Accrued interest | 39,644 | 39,644 | 30,787 | ||
Accrued liabilities | 103,559 | 103,559 | 74,394 | ||
Notes Payable, Current, Total | 485,000 | 485,000 | 480,000 | ||
Indebtedness to related parties | |||||
Note payable to related party | |||||
Income tax payable | |||||
Finance lease obligations, current | 135,918 | 135,918 | 166,769 | ||
Operating lease obligations, current | 7,265 | ||||
TOTAL CURRENT LIABILITIES | 1,115,379 | 1,115,379 | 1,406,080 | ||
Convertible notes payable, net of unamortized discount of $63,058 and $0 at December 31, 2020 and March 31, 2020, respectively | |||||
Operating lease obligations, long term | 22,515 | ||||
Long-term capital lease obligations, finance leases | 3,429,704 | 3,429,704 | 3,533,090 | ||
TOTAL LIABILITIES | 4,545,083 | 4,545,083 | 4,961,685 | ||
Sales revenue | 1,015,464 | 446,201 | 2,830,932 | 2,905,582 | |
Cost of goods sold | (596,362) | (869,848) | (1,947,225) | (3,731,996) | |
Gross profit | 419,102 | (423,647) | 883,707 | (826,414) | |
General and administrative expenses | 77,064 | 937,804 | 447,885 | 1,950,541 | |
LOSS FROM OPERATIONS | 342,038 | (1,361,451) | 435,822 | (2,776,955) | |
Interest expense | (113,241) | (194,219) | (374,383) | (568,027) | |
Loss on amendment to line of credit | |||||
Gain/(loss) on extinguishment | |||||
Gain on settlement of accounts payable | 15,972 | 15,972 | |||
Gain on deconsolidation | |||||
Debt default penalty | |||||
Other income/(expense) | (2,442) | 8,364 | (79,890) | (14,886) | |
Total other income/(expense) | (99,711) | (185,855) | (438,301) | (582,913) | |
INCOME/(LOSS) BEFORE INCOME TAXES | 242,327 | (1,547,306) | (2,479) | (3,359,868) | |
Income tax expense | |||||
NET INCOME/(LOSS) | 242,327 | (1,547,306) | (2,479) | (3,359,868) | |
Segment, Continuing and Discontinued Operations [Member] | |||||
Cash and cash equivalents | 921,357 | 921,357 | 151,766 | ||
Accounts receivable, net | 233,039 | 233,039 | 117,967 | ||
Inventory, net | 1,662,473 | 1,662,473 | 1,445,839 | ||
Prepaid and other current assets | 79,297 | 79,297 | 60,885 | ||
Note receivable | 5,224,423 | ||||
TOTAL CURRENT ASSETS | 2,896,166 | 2,896,166 | 7,000,880 | ||
Property and equipment, net | 5,051,137 | 5,051,137 | 5,533,833 | ||
Intangible assets, net | 2,218,641 | 2,218,641 | 1,699,966 | ||
Deposits and other noncurrent assets | 82,904 | 82,904 | 91,504 | ||
Operating lease right-of-use assets, net | 26,685 | ||||
TOTAL ASSETS | 10,248,848 | 10,248,848 | 14,352,868 | ||
Accounts payable | 1,807,953 | 1,807,953 | 2,559,914 | ||
Accrued interest | 502,574 | 502,574 | 397,652 | ||
Accrued liabilities | 1,214,084 | 1,214,084 | 888,012 | ||
Notes Payable, Current, Total | 4,211,308 | 4,211,308 | 5,534,728 | ||
Indebtedness to related parties | 331,895 | 331,895 | 586,512 | ||
Note payable to related party | 151,923 | ||||
Income tax payable | 827,546 | 827,546 | 592,982 | ||
Finance lease obligations, current | 135,918 | 135,918 | 166,769 | ||
Operating lease obligations, current | 7,265 | ||||
TOTAL CURRENT LIABILITIES | 9,031,278 | 9,031,278 | 10,885,757 | ||
Convertible notes payable, net of unamortized discount of $63,058 and $0 at December 31, 2020 and March 31, 2020, respectively | 283,942 | 283,942 | |||
Operating lease obligations, long term | 22,515 | ||||
Long-term capital lease obligations, finance leases | 3,429,704 | 3,429,704 | 3,533,090 | ||
TOTAL LIABILITIES | 12,744,924 | 12,744,924 | $ 14,441,362 | ||
Sales revenue | 1,015,464 | 446,201 | 2,830,932 | 2,905,582 | |
Cost of goods sold | (596,362) | (869,848) | (1,947,225) | (3,731,996) | |
Gross profit | 419,102 | (423,647) | 883,707 | (826,414) | |
General and administrative expenses | 747,375 | 2,410,741 | 2,125,367 | 6,506,174 | |
LOSS FROM OPERATIONS | (328,273) | (2,834,388) | (1,241,660) | (7,332,588) | |
Interest expense | (280,361) | (472,032) | (1,624,377) | (1,510,777) | |
Loss on amendment to line of credit | (650,000) | (650,000) | |||
Gain/(loss) on extinguishment | 467,872 | (92,796) | 467,872 | (216,954) | |
Gain on settlement of accounts payable | 388,387 | 388,387 | |||
Gain on deconsolidation | 4,502,058 | 4,502,058 | |||
Debt default penalty | (286,059) | ||||
Other income/(expense) | 15,081 | (118,695) | (65,741) | 74,920 | |
Total other income/(expense) | (59,021) | 3,818,535 | (1,769,918) | 2,849,247 | |
INCOME/(LOSS) BEFORE INCOME TAXES | (387,294) | 984,147 | (3,011,578) | (4,483,341) | |
Income tax expense | (206,690) | (234,564) | |||
NET INCOME/(LOSS) | $ (593,984) | $ 984,147 | $ (3,246,142) | $ (4,483,341) |
Note 3 - Discontinued Operati_5
Note 3 - Discontinued Operations - Schedule of Inventory (Details) - Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 |
Raw materials | $ 2,573 | $ 91,465 |
Work in progress | 1,008,164 | 1,166,511 |
Finished goods | 651,736 | 466,319 |
Subtotal | 1,662,473 | 1,724,295 |
Allowance to reduce inventory to net realizable value | (278,456) | |
Total inventory, net | $ 1,662,473 | $ 1,445,839 |
Note 3 - Discontinued Operati_6
Note 3 - Discontinued Operations - Future Minimum Lease Payments (Details) - Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | Dec. 31, 2020USD ($) |
2021 (3 months) | $ 135,061 |
2022 | 544,296 |
2023 | 560,625 |
2024 | 577,444 |
2025 | 594,767 |
Thereafter | 3,781,102 |
Total minimum lease payments, finance leases | 6,193,295 |
Less: Amount representing interest, finance leases | (2,627,673) |
Present value of minimum lease payments, finance leases | 3,565,622 |
Less: Current maturities of capital lease obligations, finance leases | (135,918) |
Long-term capital lease obligations, finance leases | $ 3,429,704 |
Note 4 - Leases (Continuing O_2
Note 4 - Leases (Continuing Operations) (Details Textual) - USD ($) | 9 Months Ended | |
Dec. 31, 2020 | Apr. 01, 2019 | |
Operating Lease, Cost | $ 3,243 | |
Operating Lease, Interest Expense | 1,242 | |
Operating Lease, Right-of-Use Asset, Amortization Expense | $ 2,001 | |
Accounting Standards Update 2016-02 [Member] | ||
Operating Lease, Right-of-Use Asset | $ 182,624 | |
Operating Lease, Liability, Total | $ 190,173 |
Note 5 - Notes Payable and Li_3
Note 5 - Notes Payable and Line of Credit (Details Textual) | Dec. 29, 2020USD ($) | Oct. 05, 2020USD ($) | May 07, 2020USD ($)$ / sharesshares | Oct. 23, 2017USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020USD ($) | Aug. 10, 2020USD ($) | Jul. 24, 2020USD ($) | May 06, 2020USD ($) | Mar. 31, 2020USD ($) | Mar. 24, 2020USD ($) | Nov. 27, 2019USD ($) |
Notes Payable, Current, Total | $ 3,726,308 | $ 3,726,308 | $ 3,726,308 | $ 3,726,308 | $ 5,054,728 | |||||||||||
Proceeds from Lines of Credit, Total | 375,000 | |||||||||||||||
Payments of Debt Issuance Costs | 34,500 | 175,000 | ||||||||||||||
Interest Expense, Debt, Excluding Amortization | 93,931 | |||||||||||||||
Amortization of Debt Discount (Premium) | 776,908 | 698,615 | ||||||||||||||
Gain (Loss) on Amendment to Line of Credit | (650,000) | (650,000) | ||||||||||||||
The July 24 Note [Member] | ||||||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 1,025,000 | |||||||||||||||
Gain (Loss) on Amendment to Line of Credit | (650,000) | |||||||||||||||
Repriced Preexisting Warrants with Convertible Debt Issuance [Member] | ||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 8,002,500 | |||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.04 | |||||||||||||||
Warrants and Rights Outstanding | $ 272,085 | $ 49,525 | ||||||||||||||
Fair Value Adjustment of Warrants | $ 222,560 | |||||||||||||||
Line of Credit [Member] | ||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 470,000 | |||||||||||||||
Proceeds from Lines of Credit, Total | 485,000 | |||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity, Increased | 15,000 | |||||||||||||||
Interest Payable | 29,200 | 29,200 | 29,200 | 29,200 | ||||||||||||
Long-term Line of Credit, Total | 485,000 | 485,000 | 485,000 | 485,000 | ||||||||||||
Teco [Member] | ||||||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 4,000,000 | |||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | 4,000,000 | 4,000,000 | 4,000,000 | 4,000,000 | ||||||||||||
Teco [Member] | The July 24 Note [Member] | ||||||||||||||||
Interest and Debt Expense, Total | 5,112 | |||||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | 3,025,000 | 1,025,000 | 1,025,000 | 1,025,000 | 1,025,000 | |||||||||||
Increase (Decrease) in Notes Receivable, Current | 975,000 | |||||||||||||||
Notes Receivable, Maximum Allowed Prepayments On Note | 325,000 | |||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | 4,000,000 | |||||||||||||||
Gain (Loss) on Amendment to Line of Credit | $ (650,000) | |||||||||||||||
Notes Receivable, Additional Advances | 50,000 | |||||||||||||||
The July 24 Note [Member] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||||||
The July 24 Note [Member] | Revolving Credit Facility [Member] | ||||||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 500,000 | |||||||||||||||
The July 24 Note [Member] | Teco [Member] | ||||||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 4,000,000 | |||||||||||||||
Debt Instrument, Forgiveness, Ratio of Notes Receivable Amount Reduced to the Debt Balance Outstanding | 3 | |||||||||||||||
Promissory Note [Member] | The 0% Note Payable Dated October 23, 2017 [Member] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 0.00% | ||||||||||||||
Debt Instrument, Face Amount | $ 700,000 | |||||||||||||||
Debt Instrument, Term (Year) | 3 years | |||||||||||||||
Debt Instrument, Present Value | 521,067 | $ 521,067 | 521,067 | 521,067 | ||||||||||||
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 20.30% | |||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 178,933 | 0 | $ 0 | 0 | 0 | |||||||||||
Repayments of Debt | 330,555 | |||||||||||||||
Notes Payable, Current, Total | 369,445 | 369,445 | 369,445 | 369,445 | ||||||||||||
Interest Expense, Debt, Total | 13,929 | |||||||||||||||
Promissory Note [Member] | The 0% Note Payable Dated October 23, 2017 [Member] | Membership Interest Purchase Agreement for Sale of Interest in GB Sciences Nopah, LLC [Member] | ||||||||||||||||
Debt Instrument, Principal Balance After Reduction Upon Close of Disposition | $ 190,272 | |||||||||||||||
Debt Instrument, Penalty Rate Waived Upon Closing of Disposition | 15.00% | |||||||||||||||
Convertible Debt [Member] | ||||||||||||||||
Interest Expense, Debt, Total | 191,191 | |||||||||||||||
Interest Payable | $ 212,591 | 212,591 | $ 212,591 | $ 212,591 | ||||||||||||
Amortization of Debt Discount (Premium) | 143,273 | |||||||||||||||
Convertible Debt [Member] | The 8% Note Payable dated May 7, 2020 [Member] | ||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||||||
Debt Instrument, Face Amount | $ 150,000 | |||||||||||||||
Debt Instrument, Unamortized Discount, Total | 150,000 | |||||||||||||||
Proceeds from Issuance of Long-term Debt, Net | 135,000 | |||||||||||||||
Payments of Debt Issuance Costs | 15,000 | |||||||||||||||
Repayments of Long-term Debt, Total | $ 8,000,000 | |||||||||||||||
Interest and Debt Expense, Total | $ 154,964 | 154,964 | ||||||||||||||
Interest Expense, Debt, Excluding Amortization | 4,964 | |||||||||||||||
Amortization of Debt Discount (Premium) | $ 150,000 | |||||||||||||||
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% |
Note 5 - Notes Payable and Li_4
Note 5 - Notes Payable and Line of Credit - Schedule of Debt Payable (Details) - USD ($) | Dec. 31, 2020 | Mar. 31, 2020 | Oct. 23, 2017 |
Discount, short-term notes payable | $ 0 | $ (608,580) | |
Discount, long-term notes payable | (63,058) | $ 0 | |
Promissory Note [Member] | |||
Total short-term notes payable classified as continuing operations | 347,000 | ||
Total short-term notes payable classified as continuing operations | (63,058) | ||
Total short-term notes payable classified as continuing operations | 283,942 | ||
Total long-term notes payable classified as continuing operations | (347,000) | ||
Total long-term notes payable classified as continuing operations | (63,058) | ||
Total long-term notes payable classified as continuing operations | 283,942 | ||
The 0% Note Payable Dated October 23, 2017 [Member] | Promissory Note [Member] | |||
Face Value, short-term notes payable | $ 700,000 | ||
The 6 % Note Payable Dated September 30, 2023 [Member] | Convertible Debt [Member] | |||
Face Value, short-term notes payable | 197,000 | ||
Discount, long-term notes payable | (43,752) | ||
Carrying Value, long-term notes payable | 153,248 | ||
The 6 % Note Payable Dated December 31, 2023 [Member] | Convertible Debt [Member] | |||
Face Value, short-term notes payable | 150,000 | ||
Discount, long-term notes payable | (19,306) | ||
Carrying Value, long-term notes payable | 130,694 | ||
Convertible Notes Payable [Member] | The 0% Note Payable Dated October 23, 2017 [Member] | |||
Face Value, short-term notes payable | 369,445 | ||
Discount, short-term notes payable | |||
Carrying Value, short-term notes payable | 369,445 | ||
Convertible Notes Payable [Member] | The 6% Note Payable Due November 30, 2018 [Member] | |||
Face Value, short-term notes payable | 1,060,000 | ||
Discount, short-term notes payable | |||
Carrying Value, short-term notes payable | 1,060,000 | ||
Line of Credit [Member] | The 8% Line of Credit Dated November 27, 2019 [Member] | |||
Face Value, short-term notes payable | 485,000 | ||
Discount, short-term notes payable | |||
Carrying Value, short-term notes payable | 485,000 | ||
Line of Credit [Member] | The 8% Line of Credit Dated July 24, 2020 [Member] | |||
Face Value, short-term notes payable | 1,025,000 | ||
Discount, short-term notes payable | |||
Carrying Value, short-term notes payable | 1,025,000 | ||
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 | |||
Carrying Value, short-term notes payable | 1,271,863 | ||
Promissory Note [Member] | |||
Face Value, short-term notes payable | 4,211,308 | ||
Discount, short-term notes payable | |||
Carrying Value, short-term notes payable | 4,211,308 | ||
Less: Notes payable classified as discontinued operations, face value | (485,000) | ||
Less: Notes payable classified as discontinued operations, discount | |||
Less: Notes payable classified as discontinued operations, carrying value | (485,000) | ||
Total short-term notes payable classified as continuing operations | 3,726,308 | ||
Total short-term notes payable classified as continuing operations | |||
Total short-term notes payable classified as continuing operations | 3,726,308 | ||
Total long-term notes payable classified as continuing operations | (3,726,308) | ||
Total long-term notes payable classified as continuing operations | |||
Total long-term notes payable classified as continuing operations | $ 3,726,308 |
Note 6 - Convertible Notes (Det
Note 6 - Convertible Notes (Details Textual) | Dec. 16, 2020USD ($) | Jul. 14, 2020USD ($) | Apr. 22, 2020USD ($) | Dec. 16, 2019USD ($)$ / 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 | Dec. 31, 2020USD ($)$ / shares | Jul. 31, 2017USD ($)$ / shares | Mar. 31, 2017USD ($)$ / shares | Dec. 31, 2020USD ($)$ / shares | Dec. 31, 2019USD ($) | May 31, 2017USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Dec. 31, 2020USD ($)$ / sharesshares | Dec. 31, 2019USD ($) | Mar. 31, 2020USD ($) | Dec. 18, 2020USD ($)$ / shares | Dec. 09, 2020USD ($) | Nov. 20, 2020USD ($) | Sep. 30, 2020USD ($) |
Amortization of Debt Discount (Premium) | $ 776,908 | $ 698,615 | |||||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 467,872 | $ (92,796) | 467,872 | (216,954) | |||||||||||||||||||||||
Interest Expense, Debt, Excluding Amortization | 93,931 | ||||||||||||||||||||||||||
Induced Conversion of Convertible Debt Expense | 127,059 | ||||||||||||||||||||||||||
Repayment of Iliad Note [Member] | Judicial Ruling [Member] | |||||||||||||||||||||||||||
Debt Instrument, Debt Default, Interest Rate Penalty | 15.00% | ||||||||||||||||||||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 3,264,594 | ||||||||||||||||||||||||||
Litigation Settlement, Amount Final Settlement | $ 3,006,014 | $ 3,006,014 | |||||||||||||||||||||||||
Litigation Settlement, One Time Required Payment | 25,000 | ||||||||||||||||||||||||||
Litigation Settlement, Weekly Required Payment | $ 25,000 | ||||||||||||||||||||||||||
Litigation Settlement, Payment | $ 3,006,014 | ||||||||||||||||||||||||||
Judgement Settlement Agreement [Member] | Judicial Ruling [Member] | |||||||||||||||||||||||||||
Litigation Settlement, Expense | 25,000 | ||||||||||||||||||||||||||
Teco [Member] | |||||||||||||||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | $ 4,000,000 | 4,000,000 | 4,000,000 | ||||||||||||||||||||||||
Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Instrument, Extended Amount | 197,000 | 197,000 | 197,000 | ||||||||||||||||||||||||
Interest Expense, Debt, Total | 191,191 | ||||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 143,273 | ||||||||||||||||||||||||||
Interest Payable | 212,591 | 212,591 | 212,591 | ||||||||||||||||||||||||
Debt Instrument, Debt Default, Amount | $ 1,060,000 | $ 1,060,000 | $ 1,060,000 | ||||||||||||||||||||||||
Warrants Issued in March 2017 Convertible Note Offering [Member] | |||||||||||||||||||||||||||
Debt Instrument, Convertible, Number of Warrants | 4,000 | ||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.60 | $ 0.60 | |||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | 3 years | |||||||||||||||||||||||||
Class of Warrant or Right, Issued (in shares) | shares | 8,000,000 | ||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 | ||||||||||||||||||||||||||
Warrants Issued In March 2017 and July 2017 Convertible Note Offerings [Member] | |||||||||||||||||||||||||||
Debt Instrument, Convertible, Number of Warrants | 4,000 | ||||||||||||||||||||||||||
Class of Warrant or Right, Issued During Period (in shares) | shares | 788,000 | ||||||||||||||||||||||||||
Warrants Related to July 2017 Convertible Note Offering [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.65 | $ 0.60 | |||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | ||||||||||||||||||||||||||
Class of Warrant or Right, Issued (in shares) | shares | 28,804,000 | ||||||||||||||||||||||||||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | shares | 1 | ||||||||||||||||||||||||||
Warrants Issued in September 30, 2023, Convertible Note Offering [Member] | |||||||||||||||||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 | ||||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | 3 years | 3 years | ||||||||||||||||||||||||
Warrants and Rights Outstanding | $ 13,396 | $ 13,396 | $ 13,396 | ||||||||||||||||||||||||
March And July 2017 Convertible Note Offering [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 46,886 | 46,886 | 46,886 | ||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 33,490 | ||||||||||||||||||||||||||
Interest Expense, Debt, Total | 6,114 | ||||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 3,134 | ||||||||||||||||||||||||||
Interest Payable | 41,417 | 41,417 | 41,417 | ||||||||||||||||||||||||
The 6 % Convertible Note Payable Dated December 31, 2023 [Member] | |||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.05 | ||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 150,000 | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 19,500 | $ 19,500 | 19,500 | ||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 0 | ||||||||||||||||||||||||||
Interest Expense, Debt, Total | 514 | ||||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 194 | ||||||||||||||||||||||||||
Interest Expense, Debt, Excluding Amortization | 320 | ||||||||||||||||||||||||||
Debt Instrument, Aggregate Offering | $ 500,000 | ||||||||||||||||||||||||||
Proceeds from Debt, Net of Issuance Costs | 130,500 | ||||||||||||||||||||||||||
Convertible Notes Payable [Member] | |||||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 196,886 | $ 829,736 | |||||||||||||||||||||||||
Convertible Notes Payable [Member] | March 2017 Convertible Note Offering [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount Per Note | $ 1,000 | ||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 2,000,000 | ||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 3 years | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 1,933,693 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 904,690 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Discount, Fair Value of Warrants | $ 1,029,003 | ||||||||||||||||||||||||||
Convertible Notes Payable [Member] | March 2017 Convertible Note Offering [Member] | Common Stock [Member] | |||||||||||||||||||||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 4,000 | 8,000,000 | |||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.25 | ||||||||||||||||||||||||||
Convertible Notes Payable [Member] | July 2017 Convertible Note Offering [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount Per Note | $ 1,000 | ||||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 7,201,000 | ||||||||||||||||||||||||||
Debt Instrument, Term (Year) | 3 years | 3 years | |||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 7,092,796 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 3,142,605 | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Discount, Fair Value of Warrants | $ 3,950,191 | ||||||||||||||||||||||||||
Convertible Notes Payable [Member] | July 2017 Convertible Note Offering [Member] | Common Stock [Member] | |||||||||||||||||||||||||||
Debt Instrument, Convertible, Number of Equity Instruments | 4,000 | 28,804,000 | |||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.25 | ||||||||||||||||||||||||||
Convertible Notes Payable [Member] | March And July 2017 Convertible Note Offering [Member] | |||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.10 | $ 0.10 | $ 0.10 | ||||||||||||||||||||||||
Debt Instrument, Extended Amount | $ 197,000 | $ 197,000 | $ 197,000 | ||||||||||||||||||||||||
Convertible Notes Payable, Total | 1,257,000 | 1,257,000 | 1,257,000 | ||||||||||||||||||||||||
Convertible Notes Payable [Member] | The 8% Convertible Promissory Note Dated April 23, 2019 [Member] | |||||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.0375 | $ 0.06 | $ 0.17 | ||||||||||||||||||||||||
Debt Instrument, Face Amount | $ 2,765,000 | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 265,000 | ||||||||||||||||||||||||||
Interest Expense, Debt, Total | 209,292 | 379,956 | |||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 29,831 | ||||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | $ 50,000 | $ 75,000 | $ 125,000 | ||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 1,333,333 | 1,250,000 | |||||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | 467,872 | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net, Total | 440,000 | ||||||||||||||||||||||||||
Payments for Brokerage Fees | $ 175,000 | ||||||||||||||||||||||||||
Induced Conversion of Convertible Debt Expense | $ 64,706 | ||||||||||||||||||||||||||
Debt Instrument, Debt Default, Interest Rate Penalty | 10.00% | ||||||||||||||||||||||||||
Debt Instrument, Debt Default, Interest Expense | $ 9,559 | ||||||||||||||||||||||||||
Debt Instrument, Debt Default, Principal Expense | $ 276,500 | ||||||||||||||||||||||||||
Debt Instrument, Debt Default, Increase in Principal Amount, Percent | 10.00% | ||||||||||||||||||||||||||
Interest Expense, Debt, Pre-judgment Interest | 140,833 | ||||||||||||||||||||||||||
Convertible Notes Payable [Member] | The 8% Convertible Promissory Note Dated April 23, 2019 [Member] | Judicial Ruling [Member] | |||||||||||||||||||||||||||
Litigation Settlement, Amount Awarded to Other Party | 3,264,594 | ||||||||||||||||||||||||||
Litigation Settlement, Amount Including Interest Expense | 3,473,886 | 3,473,886 | 3,473,886 | ||||||||||||||||||||||||
Promissory Note [Member] | |||||||||||||||||||||||||||
Debt Instrument, Face Amount | 4,211,308 | 4,211,308 | 4,211,308 | ||||||||||||||||||||||||
Short-term Debt, Total | 4,211,308 | 4,211,308 | 4,211,308 | ||||||||||||||||||||||||
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, Interest Rate, Stated Percentage | 8.00% | 8.00% | 8.00% | 8.00% | |||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,500,000 | ||||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 9,579 | $ 17,225 | 0 | 0 | 0 | ||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 92,796 | $ 133,806 | $ 176,471 | ||||||||||||||||||||||||
Interest Expense, Debt, Total | $ 584,842 | 477,500 | |||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 57,551 | 409,481 | |||||||||||||||||||||||||
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 | |||||||||||||||||||||
Proceeds from Related Party Debt | 100,000 | ||||||||||||||||||||||||||
Debt Instrument, Increase, Accrued Interest | 41,863 | ||||||||||||||||||||||||||
Gain (Loss) on Extinguishment of Debt, Total | $ 0 | $ (124,158) | $ (92,796) | ||||||||||||||||||||||||
Long-term Debt, Gross | $ 687,021 | 1,271,863 | 1,271,863 | 1,271,863 | |||||||||||||||||||||||
Interest Expense, Debt, Excluding Amortization | 68,019 | ||||||||||||||||||||||||||
Long Term Debt Including Interest | $ 1,416,857 | $ 1,416,857 | $ 1,416,857 | ||||||||||||||||||||||||
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 (in dollars per share) | $ / shares | $ 0.04 | $ 0.04 | $ 0.08 | $ 0.11 | $ 0.11 | $ 0.17 | $ 0.17 | ||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 3,000,000 | 1,000,000 | 1,000,000 |
Note 7 - Capital Transactions (
Note 7 - Capital Transactions (Details Textual) - USD ($) | Dec. 15, 2020 | Dec. 07, 2020 | Nov. 16, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Apr. 01, 2020 |
Proceeds from Warrant Exercises | $ 249,807 | $ 1,069,975 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 18,916,334 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price, Ending Balance (in dollars per share) | $ 0.19 | |||||
Convertible Debt [Member] | ||||||
Debt Instrument, Extended Amount | $ 197,000 | |||||
Convertible Notes Payable [Member] | March And July 2017 Convertible Note Offering [Member] | ||||||
Debt Instrument, Extension Period (Year) | 3 years | |||||
Debt Instrument, Extended Amount | $ 197,000 | |||||
Share-based Payment Arrangement, Option [Member] | ||||||
Share-based Payment Arrangement, Expense | $ 51,050 | |||||
Scientist and Researcher [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,500,000 | |||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.05 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $ 168,000 | |||||
Scientist and Researcher [Member] | Share-based Payment Arrangement, Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
Former Director [Member] | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.03 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 450,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period Before Modification, Fair Value | $ 4,950 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period After Modification, Fair Value | 11,250 | |||||
Share-based Payment Arrangement, Expense | $ 6,300 | |||||
Employees and Directors [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in shares) | 3,250,000 | |||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.05 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Fair Value | $ 156,000 | |||||
Share-based Payment Arrangement, Expense | 58,500 | |||||
Share-based Payment Arrangement, Nonvested Award, Option, Cost Not yet Recognized, Amount | $ 97,500 | |||||
Employees and Directors [Member] | Share-based Payment Arrangement, Option [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period (Year) | 10 years | |||||
Employees and Directors [Member] | Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche One [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||
Employees and Directors [Member] | Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche Two [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||
Employees and Directors [Member] | Share-based Payment Arrangement, Option [Member] | Share-based Payment Arrangement, Tranche Three [Member] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 33.33% | |||||
Current Employees [Member] | ||||||
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price (in dollars per share) | $ 0.05 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number, Ending Balance (in shares) | 6,050,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period Before Modification, Fair Value | $ 199,600 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period After Modification, Fair Value | $ 250,650 | |||||
Warrants Issued to Investors in Private Placements [Member] | ||||||
Class of Warrant or Right, Exercises in Period (in shares) | 8,277,851 | |||||
Proceeds from Warrant Exercises | $ 224,824 | |||||
Brokerage Fees for Issuance of Common Stock and Warrants | $ 24,983 | |||||
Warrants Issued to Investors in Private Placements [Member] | Minimum [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.03 | |||||
Warrants Issued to Investors in Private Placements [Member] | Maximum [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.05 | |||||
Convertible Warrant [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.10 | |||||
Class of Warrant or Right, Issued During Period (in shares) | 788,000 | |||||
Class of Warrant or Right, Extension Period of Securities Called by Warrants or Rights (Year) | 3 years | |||||
Warrants and Rights Outstanding | $ 13,396 | |||||
Employees and Director Warrants [Member] | Employees and Directors [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.04 | |||||
Warrants and Rights Outstanding | $ 133,000 | |||||
Share-based Payment Arrangement, Expense | $ 133,000 | |||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | 3,500,000 | |||||
Warrants and Rights Outstanding, Term (Year) | 10 years | |||||
Warrants [Member] | ||||||
Class of Warrant or Right, Outstanding (in shares) | 67,074,495 | |||||
Warrants [Member] | Minimum [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.08 | |||||
Warrants [Member] | Maximum [Member] | ||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 1 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Details Textual) | Dec. 16, 2020USD ($) | Sep. 17, 2020USD ($) | Aug. 24, 2020USD ($) | Jul. 14, 2020USD ($) | Apr. 22, 2020USD ($) | Sep. 18, 2017USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020USD ($) |
Repayment of Iliad Note [Member] | Judicial Ruling [Member] | ||||||||
Litigation Settlement, Amount Awarded to Other Party | $ 3,264,594 | |||||||
Litigation Settlement, Payment | $ 3,006,014 | |||||||
Payment of Services Provided by Contractor [Member] | Pending Litigation [Member] | ||||||||
Loss Contingency, Damages Sought, Value | $ 73,050 | |||||||
Payment of Services Provided by Contractor [Member] | Settled Litigation [Member] | ||||||||
Payments for Legal Settlements | $ 25,000 | |||||||
Reduction in Cost Basis of Fixed Asset Related to Litigation | $ 48,050 | |||||||
Agreement With Louisiana State University AgCenter [Member] | ||||||||
Term of Agreement (Year) | 5 years | 3 years | ||||||
Option to Renew Agreement, Amount | 2 | |||||||
Term of Agreement, Renewal (Year) | 5 years | |||||||
Research and Development Expense, Total | $ 500,000 | $ 250,000 | $ 750,000 | |||||
Annual Research Contributions | $ 250,000 |
Note 9 - Related Party Transa_2
Note 9 - Related Party Transactions (Details Textual) - USD ($) | Nov. 16, 2020 | Dec. 31, 2020 | Mar. 31, 2020 |
Notes Payable, Related Parties, Current | $ 151,923 | ||
Leslie Bocskor [Member] | |||
Due to Related Parties, Total | $ 60,411 | 55,411 | |
Related Party Transaction, Monthly Installments, Amount | 5,000 | ||
Leslie Bocskor [Member] | Unpaid Severance Compensation [Member] | |||
Related Party Transaction, Expenses from Transactions with Related Party | $ 20,000 | ||
John Davis [Member] | |||
Notes Payable, Related Parties, Current | 151,923 | ||
Officers and Directors [Member] | |||
Due to Related Parties, Total | $ 276,484 |
Note 10 - Sale of Membership _2
Note 10 - Sale of Membership Interests in GB Sciences Louisiana, LLC (Details Textual) - USD ($) | Dec. 16, 2020 | Dec. 08, 2020 | Oct. 29, 2020 | Nov. 15, 2019 | Sep. 30, 2020 | Aug. 31, 2020 | Oct. 15, 2020 | Dec. 31, 2020 | Dec. 31, 2019 | Mar. 31, 2020 | Aug. 24, 2020 | Aug. 23, 2020 |
Repayments of Related Party Debt | $ 151,923 | |||||||||||
Wellcana Group, LLC [Member] | GB Sciences Louisiana, LLC [Member] | ||||||||||||
Proceeds from Divestiture of Businesses | $ 8,000,000 | |||||||||||
Earnout Payments | $ 8,000,000 | |||||||||||
Proceeds from Collection of Notes Receivable and Liabilities Forgiveness | $ 5,224,423 | |||||||||||
Repayments of Related Party Debt | $ 151,923 | 151,923 | ||||||||||
Debt Instrument, Decrease, Forgiveness | $ 172,500 | 172,500 | ||||||||||
Proceeds from Collection of Notes Receivable | $ 4,150,000 | $ 550,000 | $ 550,000 | 4,900,000 | ||||||||
Note Receivable Satisfied | 8,000,000 | |||||||||||
Annual Research Contribution Commitment to LSU Assumed by Counter Party | 250,000 | |||||||||||
Notes Receivable, Net, Scheduled Payments | $ 500,000 | $ 750,000 | ||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 4,350,000 | $ 5,224,423 | ||||||||||
Gain (Loss) on Modification of Note Receivable | $ (1,895,434) | |||||||||||
Notes Receivable, Not Yet Collectible | $ 4,350,000 | |||||||||||
Notes Receivable, Due Date Extended | $ 4,350,000 | |||||||||||
Notes Receivable, Amount for Which Proof of Funds is Required | 4,350,000 | |||||||||||
Notes Receivable, Escrow Deposit Required of Other Party | 250,000 | |||||||||||
Notes Receivable, Escrow Payment Received | $ 250,000 | |||||||||||
Notes Receivable, Escrow Payment Not Yet Received | 250,000 | |||||||||||
Notes Receivable, Retained Amount Not Offset Against Full Balance | $ 50,000 | |||||||||||
Wellcana Group, LLC [Member] | GB Sciences Louisiana, LLC, Sale of Equity [Member] | ||||||||||||
Sale of Stock, Percentage of Ownership | 50.01% |
Note 11 - Sale of Membership _2
Note 11 - Sale of Membership Interests in Nevada Subsidiaries (Details Textual) | Dec. 29, 2020USD ($) | Mar. 24, 2020USD ($) | Nov. 27, 2019USD ($) | Nov. 15, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Dec. 31, 2020USD ($) | Jul. 24, 2020USD ($) | Oct. 23, 2017 |
Proceeds from Lines of Credit, Total | $ 375,000 | |||||||||||
Gain (Loss) on Amendment to Line of Credit | $ (650,000) | (650,000) | ||||||||||
Proceeds from Sale and Collection of Notes Receivable, Total | 5,051,923 | |||||||||||
The July 24 Note [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 1,025,000 | |||||||||||
Gain (Loss) on Amendment to Line of Credit | (650,000) | |||||||||||
Teco [Member] | ||||||||||||
Management Fees Accrued | 850,000 | $ 850,000 | 850,000 | $ 850,000 | ||||||||
Proceeds from Sale and Collection of Notes Receivable, Total | $ 4,000,000 | |||||||||||
Notes Receivable Term (Year) | 3 years | |||||||||||
Teco [Member] | ||||||||||||
Sale of Stock, Percentage of Ownership | 100.00% | |||||||||||
Proceeds from Divestiture of Businesses | $ 4,000,000 | |||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 4,000,000 | |||||||||||
Notes Receivable, Interest Rate | 8.00% | |||||||||||
Notes Receivable, Term of Monthly Installments (Month) | 3 years | |||||||||||
Teco [Member] | July 24 Note [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | 3,025,000 | |||||||||||
Increase (Decrease) in Notes Receivable, Current | (975,000) | |||||||||||
Note Receivable, Maximum Allowed Prepayments On Note | 325,000 | |||||||||||
Teco [Member] | The July 24 Note [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | 3,025,000 | $ 1,025,000 | 1,025,000 | $ 1,025,000 | 1,025,000 | |||||||
Increase (Decrease) in Notes Receivable, Current | 975,000 | |||||||||||
Gain (Loss) on Amendment to Line of Credit | $ (650,000) | |||||||||||
Line of Credit [Member] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 470,000 | |||||||||||
Proceeds from Lines of Credit, Total | $ 485,000 | |||||||||||
Teco Note [Member] | Line of Credit [Member] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 470,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||
The July 24 Note [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||
The July 24 Note [Member] | Teco [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 4,000,000 | |||||||||||
Debt Instrument, Forgiveness, Ratio of Notes Receivable Amount Reduced to the Debt Balance Outstanding | 3 | |||||||||||
The July 24 Note [Member] | Secured Debt [Member] | AJE Management, LLC [Member] | ||||||||||||
Line of Credit Facility, Maximum Borrowing Capacity | $ 500,000 | |||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||
Proceeds from Lines of Credit, Total | $ 375,000 | |||||||||||
July 24 Note [Member] | Teco [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 4,000,000 | |||||||||||
Debt Instrument, Forgiveness, Ratio of Notes Receivable Amount Reduced to the Debt Balance Outstanding | 3 | |||||||||||
The 0% Note Payable Dated October 23, 2017 [Member] | Promissory Note [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 0.00% | ||||||||||
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 | |||||||||||
GB Sciences Nopah, LLC [Member] | The 0% Note Payable Dated October 23, 2017 [Member] | Promissory Note [Member] | ||||||||||||
Sale of Stock, Consideration to Be Received By Means of Debt Reduction | $ 300,000 |
Note 12 - Subsequent Events (De
Note 12 - Subsequent Events (Details Textual) - USD ($) | Jan. 31, 2021 | Jan. 02, 2021 | Jan. 04, 2020 |
Ksenia Griswold [Member] | |||
Related Party Transaction, Expenses from Transactions with Related Party | $ 57,000 | ||
Subsequent Event [Member] | |||
Class of Warrant or Right, Exercised During Period (in shares) | 9,701,991 | ||
Class of Warrant or Right, Exercised During Period, Exercise Price (in dollars per share) | $ 0.03 | ||
Proceeds from Warrant Exercises, Net of Brokerage Fees | $ 261,938 | ||
Payments of Brokerage Fees in Connection With Warrants Exercised | $ 29,104 | ||
Subsequent Event [Member] | Ksenia Griswold [Member] | Unpaid Severance Compensation [Member] | |||
Related Party Transaction, Amounts of Transaction | $ 57,000 | ||
Due to Related Parties, Total | $ 114,000 |