Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | Note 4 Discontinued Operations Discontinued operations comprise those activities that were disposed of during the period, or which were classified as held for sale at the end of the period and represent a separate major line of business or geographical area that can be clearly distinguished for operational and financial reporting purposes. The 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 13 (Note 14 There were no March 31, 2021 2020 March 31, 2021 2020 March 31, 2021 March 31, 2020 Continuing Discontinued Nevada Subsidiaries Total Continuing Discontinued Nevada Subsidiaries Total ASSETS CURRENT ASSETS Cash $ 793,040 $ 352,593 $ 1,145,633 $ 2,406 $ 149,360 $ 151,766 Accounts receivable, net - 400,175 400,175 - 117,967 117,967 Inventory, net - 1,689,304 1,689,304 - 1,445,839 1,445,839 Prepaid and other current assets 256,251 52,492 308,743 18,776 42,109 60,885 Note receivable - - - 5,224,423 - 5,224,423 TOTAL CURRENT ASSETS 1,049,291 2,494,564 3,543,855 5,245,605 1,755,275 7,000,880 Property and equipment, net 25,022 4,876,247 4,901,269 37,821 5,496,012 5,533,833 Intangible assets, net 1,706,762 571,264 2,278,026 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 $ 2,781,075 $ 8,024,979 $ 10,806,054 $ 6,412,128 $ 7,940,740 $ 14,352,868 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,412,459 $ 509,477 $ 1,921,936 $ 1,913,049 $ 646,865 $ 2,559,914 Accrued interest 493,741 49,211 542,952 366,865 30,787 397,652 Accrued expenses 957,946 105,421 1,063,367 813,618 74,394 888,012 Notes and convertible notes payable, net 3,594,804 485,000 4,079,804 5,054,728 480,000 5,534,728 Indebtedness to related parties 84,913 - 84,913 586,512 - 586,512 Note payable to related party - - - 151,923 - 151,923 Income tax payable - 761,509 761,509 - 592,982 592,982 Finance lease obligations, current - 143,967 143,967 - 166,769 166,769 Operating lease obligations, current - - - - 7,265 7,265 TOTAL CURRENT LIABILITIES 6,543,863 2,054,585 8,598,448 8,886,695 1,999,062 10,885,757 Convertible notes payable, net 292,410 - 292,410 - - - Operating lease obligations, long term - - - - 22,515 22,515 Finance lease obligations, long term - 3,389,124 3,389,124 - 3,533,090 3,533,090 TOTAL LIABILITIES $ 6,836,273 $ 5,443,709 $ 12,279,982 $ 8,886,695 $ 5,554,667 $ 14,441,362 The revenues and expenses associated with discontinued operations included in our consolidated statements of operations for the years ended March 31, 2021 2020 For the Year Ended March 31, For the Year Ended March 31, 2021 2020 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ - $ 4,110,456 $ 4,110,456 $ - $ 3,689,697 $ 3,689,697 Cost of goods sold - (3,506,722 ) (3,506,722 ) - (4,576,627 ) (4,576,627 ) Gross profit (loss) - 603,734 603,734 - (886,930 ) (886,930 ) General and administrative expenses 2,001,617 276,986 2,278,603 5,741,514 2,034,612 7,776,126 Loss on impairment of long-lived assets - - - - 4,645,054 4,645,054 LOSS FROM OPERATIONS (2,001,617 ) 326,748 (1,674,869 ) (5,741,514 ) (7,566,596 ) (13,308,110 ) OTHER INCOME/(EXPENSE) Gain/(loss) on extinguishment 467,872 - 467,872 (216,954 ) - (216,954 ) Gain on settlement of accounts payable 422,414 54,958 477,372 - - - Gain on deconsolidation - - - 4,393,242 - 4,393,242 Interest expense (1,285,460 ) (486,481 ) (1,771,941 ) (1,109,031 ) (694,313 ) (1,803,344 ) Loss on modification of line of credit (650,000 ) - (650,000 ) - - - Loss on modification of note receivable - - - (1,895,434 ) - (1,895,434 ) Debt default penalty (286,059 ) - (286,059 ) - - - Other expense - (118,875 ) (118,875 ) (179,368 ) (14,880 ) (194,248 ) TOTAL OTHER INCOME/(EXPENSE) (1,331,233 ) (550,398 ) (1,881,631 ) 992,455 (709,193 ) 283,262 NET LOSS BEFORE INCOME TAXES (3,332,850 ) (223,650 ) (3,556,500 ) (4,749,059 ) (8,275,789 ) (13,024,848 ) Income tax expense - (168,527 ) (168,527 ) - (86,837 ) (86,837 ) NET LOSS $ (3,332,850 ) $ (392,177 ) $ (3,725,027 ) $ (4,749,059 ) $ (8,362,626 ) $ (13,111,685 ) The components of revenues and expenses associated with discontinued operations included in our consolidated statements of operations for the years ended March 31, 2021 2020 For the Year Ended March 31, For the Year Ended March 31, 2021 2020 Nevada Louisiana Total Nevada Louisiana Total Sales revenue $ 4,110,456 $ - $ 4,110,456 $ 3,120,620 $ 569,077 $ 3,689,697 Cost of goods sold (3,506,722 ) - (3,506,722 ) (4,002,083 ) (574,544 ) (4,576,627 ) Gross profit (loss) 603,734 - 603,734 (881,463 ) (5,467 ) (886,930 ) General and administrative expenses 276,986 - 276,986 741,999 1,292,613 2,034,612 Loss on impairment of long-lived assets - - - 4,645,054 - 4,645,054 LOSS FROM OPERATIONS 326,748 - 326,748 (6,268,516 ) (1,298,080 ) (7,566,596 ) OTHER INCOME/(EXPENSE) Gain on settlement of accounts payable 54,958 - 54,958 - - - Interest expense (486,481 ) - (486,481 ) (516,173 ) (178,140 ) (694,313 ) Other expense (118,875 ) - (118,875 ) (14,880 ) - (14,880 ) TOTAL OTHER INCOME/(EXPENSE) (550,398 ) - (550,398 ) (531,053 ) (178,140 ) (709,193 ) NET LOSS BEFORE INCOME TAXES (223,650 ) - (223,650 ) (6,799,569 ) (1,476,220 ) (8,275,789 ) Income tax expense (168,527 ) - (168,527 ) (86,837 ) - (86,837 ) NET LOSS $ (392,177 ) $ - $ (392,177 ) $ (6,886,406 ) $ (1,476,220 ) $ (8,362,626 ) Accounts Receivable Accounts receivable are carried at their estimated collectible amounts. Trade accounts receivable are periodically evaluated for collectability based on aging and subsequent collections. During the year ended March 31, 2021 $24,768 $94,912 $70,144 March 31, 2021 2020 Inventory We value our inventory at the lower of the actual cost of our inventory, as determined using the first first 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 consolidated balance sheets at March 31, 2021 2020 March 31, 2021 March 31, 2020 Raw materials $ 86,076 $ 91,465 Work in progress 743,844 1,166,511 Finished goods 866,195 466,319 Subtotal 1,696,115 1,724,295 Allowance to reduce inventory to NRV (6,811 ) (278,456 ) Total inventory, net $ 1,689,304 $ 1,445,839 Deposits and Noncurrent Assets Deposits and noncurrent assets from discontinued operations were $ 82,904 91,504 March 31, 2021 2020 March 31, 2021 2020 Leases In February 2016, 2016 02, 842 Lease payments include fixed payments, variable payments based on an index or rate, reasonably certain purchase options, termination penalties, and others as required by the standard. Lease payments do not April 1, 2019. not The Company adopted the New Lease Standard using the modified retrospective transition approach as of the effective date as permitted by the amendments in ASU 2018 11, 842 not April 1, 2019. The Company determines if an arrangement is a lease at inception and has had lease agreements for warehouses, office facilities, and equipment. As a result of the adoption of ASC 842 April 1, 2019, $182,624, $190,173 All of the Company's lease commitments previously recorded as operating leases have terminated as of March 31, 2021 March 31, 2021 March 31, 2021 2020 December 31, 2025 December 31, 2030. Operating leases are included in discontinued operations as operating lease right-of-use assets, operating lease obligations, current, and operating lease obligations, long term on the Company's balance sheets. Finance leases are included in property and equipment, finance lease obligations, current, and finance lease obligations, long term, on the Company's 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 The lease costs recorded in the Company's financial statements for the years ended March 31, 2021 2020 March 31, Classification on the Statements of Operations 2021 2020 Discontinued operations: Finance leases - amortization of ROU assets Loss from discontinued operations $ 154,699 $ 252,973 Finance leases - interest on lease liabilities Loss from discontinued operations 414,993 426,374 Operating leases Loss from discontinued operations 3,243 13,648 Total lease cost, discontinued operations 572,935 692,995 Operating leases, continuing operations General and administrative expense - 61,658 Total lease cost $ 572,935 $ 754,653 The future minimum lease payments of lease liabilities, including the costs of the lease extension, classified as discontinued operations at March 31, 2021 Year Ending March 31, Finance Leases 2022 $ 544,296 2023 560,625 2024 577,444 2025 594,767 2026 612,610 Thereafter 3,168,492 Total minimum lease payments 6,058,234 Less: Amount representing interest (2,525,143 ) Present value of minimum lease payments 3,533,091 Less: Current maturities of capital lease obligations (143,967 ) Long-term capital lease obligations $ 3,389,124 |