Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Jun. 30, 2021 | Aug. 13, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001165320 | |
Entity Registrant Name | GB SCIENCES INC | |
Amendment Flag | false | |
Current Fiscal Year End Date | --03-31 | |
Document Fiscal Period Focus | Q1 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Jun. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-55462 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 59-3733133 | |
Entity Address, Address Line One | 3550 W. Teco Avenue | |
Entity Address, City or Town | Las Vegas | |
Entity Address, State or Province | NV | |
Entity Address, Postal Zip Code | 89118 | |
City Area Code | 866 | |
Local Phone Number | 721-0297 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 317,429,078 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Jun. 30, 2021 | Mar. 31, 2021 |
Cash and cash equivalents | $ 582,971 | $ 793,040 |
Prepaid expenses and other current assets | 296,081 | 256,251 |
Current assets from discontinued operations | 2,248,757 | 2,494,564 |
TOTAL CURRENT ASSETS | 3,127,809 | 3,543,855 |
Property and equipment, net | 21,895 | 25,022 |
Intangible assets, net of accumulated amortization of $57,322 and $43,096 at June 30, 2021 and March 31, 2021, respectively | 1,797,920 | 1,706,762 |
Long term assets from discontinued operations | 5,383,005 | 5,530,415 |
TOTAL ASSETS | 10,330,629 | 10,806,054 |
CURRENT LIABILITIES: | ||
Accounts payable | 1,463,806 | 1,412,459 |
Accrued interest | 521,145 | 493,741 |
Accrued liabilities | 1,031,003 | 957,946 |
Notes and convertible notes payable and line of credit, net of unamortized discount of $272,122 and $296,504 at June 30, 2021 and March 31, 2021, respectively | 3,619,186 | 3,594,804 |
Indebtedness to related parties | 84,913 | 84,913 |
Current liabilities from discontinued operations | 1,987,787 | 2,054,585 |
TOTAL CURRENT LIABILITIES | 8,707,840 | 8,598,448 |
Convertible notes payable, net of unamortized discount of $141,123 and $154,590 at June 30, 2021 and March 31, 2021, respectively | 305,877 | 292,410 |
Long term liabilities from discontinued operations | 3,347,363 | 3,389,124 |
TOTAL LIABILITIES | 12,361,080 | 12,279,982 |
Commitments and contingencies (Note 7) | ||
STOCKHOLDERS' DEFICIT: | ||
Common Stock, $0.0001 par value, 600,000,000 shares authorized, 317,429,078 and 315,340,411 outstanding at June 30, 2021 and March 31, 2021, respectively | 31,743 | 31,534 |
Additional paid-in capital | 102,619,471 | 102,380,770 |
Accumulated deficit | (104,681,665) | (103,886,232) |
TOTAL STOCKHOLDERS' DEFICIT | (2,030,451) | (1,473,928) |
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT | $ 10,330,629 | $ 10,806,054 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) | Jun. 30, 2021 | Mar. 31, 2021 |
Intangible assets, accumulated amortization | $ 57,322 | $ 43,096 |
Unamortized discount, current | 272,122 | 296,504 |
Unamortized discount, noncurrent | $ 141,123 | $ 154,590 |
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) | 317,429,078 | 315,340,411 |
Common stock, shares outstanding (in shares) | 317,429,078 | 315,340,411 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | |
Sales revenue | $ 0 | $ 0 |
Cost of goods sold | 0 | 0 |
Gross profit | 0 | 0 |
General and administrative expenses | 493,405 | 515,253 |
LOSS FROM OPERATIONS | (493,405) | (515,253) |
OTHER EXPENSE | ||
Interest expense | (65,254) | (662,370) |
Debt default penalty | 0 | (286,059) |
Other expense | 0 | 11,182 |
Total other expense | (65,254) | (959,611) |
LOSS BEFORE INCOME TAXES | (558,659) | (1,474,864) |
Income tax expense | 0 | 0 |
LOSS FROM CONTINUING OPERATIONS | (558,659) | (1,474,864) |
Loss from discontinued operations | (73,758) | (371,836) |
NET LOSS | (632,417) | (1,846,700) |
Net loss attributable to common stockholders of GB Sciences, Inc. | ||
Continuing operations | (558,659) | (1,474,864) |
Discontinued operations | (73,758) | (371,836) |
Net loss | $ (632,417) | $ (1,846,700) |
Net loss per common share – basic and diluted | ||
Continuing operations (in dollars per share) | $ 0 | $ (0.01) |
Discontinued operations (in dollars per share) | 0 | 0 |
Net loss (in dollars per share) | $ 0 | $ (0.01) |
Weighted average common shares outstanding - basic and diluted (in shares) | 315,675,539 | 277,968,516 |
Condensed Consolidated Statem_2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | |
OPERATING ACTIVITIES: | |||
Net loss | $ (632,417) | $ (1,846,700) | |
Loss from discontinued operations | (73,758) | (371,836) | |
Net loss from continuing operations | (558,659) | (1,474,864) | |
Adjustments to reconcile net loss to net cash used in operating activities: | |||
Depreciation and amortization | 17,354 | 5,562 | |
Stock-based compensation | 19,500 | 0 | |
Amortization of debt discount and beneficial conversion feature | 37,849 | 510,885 | |
Debt default penalty | 0 | 286,059 | |
Changes in operating assets and liabilities: | |||
Prepaid expenses and other current assets | (39,830) | 0 | |
Accounts payable | (10,304) | 34,739 | |
Accrued expenses | (126,943) | (141,102) | |
Accrued interest | 27,404 | 158,806 | |
Indebtedness to related parties | 0 | 60,291 | |
Net cash used in operating activities of continuing operations | (633,629) | (559,624) | |
Net cash provided by/(used in) operating activities of discontinued operations | (2,954) | 235,779 | |
Net cash used in operating activities | (636,583) | (323,845) | |
INVESTING ACTIVITIES: | |||
Advancement of proceeds from sale of Nevada subsidiaries | 200,000 | 0 | |
Acquisition of intangible assets | (50,000) | 0 | |
Net cash provided by investing activities of continuing operations | 150,000 | 0 | |
Net cash provided by investing activities of discontinued operations | 7,435 | 0 | |
Net cash provided by investing activities | 157,435 | 0 | |
FINANCING ACTIVITIES: | |||
Gross proceeds from warrant exercises | 62,660 | 151,202 | |
Proceeds of note payable | 0 | 150,000 | |
Brokerage fees for warrant exercises | 0 | (15,121) | |
Net cash provided by financing activities of continuing operations | 62,660 | 286,081 | |
Net cash used in financing activities of discontinued operations | (33,478) | (12,772) | |
Net cash provided by financing activities | 29,182 | 273,309 | |
Net change in cash and cash equivalents | (449,966) | (50,536) | |
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD | 1,145,633 | 151,766 | $ 151,766 |
CASH AND CASH EQUIVALENTS AT END OF PERIOD | 695,667 | 101,230 | $ 1,145,633 |
Less: cash and cash equivalents classified as discontinued operations | (112,696) | (50,135) | |
CASH AND CASH EQUIVALENTS AT END OF PERIOD FROM CONTINUING OPERATIONS | 582,971 | 51,095 | |
Cash paid for interest | 0 | 0 | |
Cash paid for income tax | 0 | 0 | |
Non-cash investing and financing transactions: | |||
Depreciation capitalized in inventory (discontinued operations) | 134,511 | 164,654 | |
Patent drafting and filing costs capitalized in intangible assets | 55,385 | 78,226 | |
Brokerage fees from warrant exercises in accounts payable | 6,266 | 0 | |
Induced dividend from warrant exercises | 163,016 | 17,236 | |
Discount on note payable attributable to warrant modification | $ 0 | $ 150,000 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Changes in Stockholders' Deficit (Unaudited) - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
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) | 4,991,084 | |||
Exercise of warrants for stock, net of issuance costs | $ 500 | 135,581 | 0 | 136,081 |
Inducement dividend from warrant exercises | 0 | 17,263 | (17,263) | 0 |
Net loss | 0 | 0 | (1,846,700) | (1,846,700) |
Discount on convertible note payable from warrant modification | $ 0 | 150,000 | 0 | 150,000 |
Balance (in shares) at Jun. 30, 2020 | 280,532,686 | |||
Balance at Jun. 30, 2020 | $ 28,054 | 97,574,001 | (99,251,168) | (1,649,113) |
Balance (in shares) at Mar. 31, 2021 | 315,340,411 | |||
Balance at Mar. 31, 2021 | $ 31,534 | 102,380,770 | (103,886,232) | (1,473,928) |
Exercise of warrants for stock, net of issuance costs (in shares) | 2,088,667 | |||
Exercise of warrants for stock, net of issuance costs | $ 209 | 56,185 | 0 | 56,394 |
Share based compensation expense | 0 | 19,500 | 0 | 19,500 |
Inducement dividend from warrant exercises | 0 | 163,016 | (163,016) | 0 |
Net loss | $ 0 | 0 | (632,417) | (632,417) |
Balance (in shares) at Jun. 30, 2021 | 317,429,078 | |||
Balance at Jun. 30, 2021 | $ 31,743 | $ 102,619,471 | $ (104,681,665) | $ (2,030,451) |
Note 1 - Background and Signifi
Note 1 - Background and Significant Accounting Policies | 3 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Business Description and Basis of Presentation [Text Block] | Note 1 GB Sciences, Inc. (“the Company”, “GB Sciences”, “we”, “us”, or “our”) is a phytomedical research and biopharmaceutical drug development company whose goal is to create patented formulations of plant-inspired, complex therapeutic mixtures for the prescription drug market that target a variety of medical conditions. The Company is engaged in the research and development of plant-based medicines and plans to produce plant-inspired, complex therapeutic mixtures 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 intellectual property containing both proprietary cannabinoid-containing formulations and our AI-enabled drug discovery platform, as well as critical research contracts and key supplier arrangements. GBSGB’s intellectual property covers a range of medical 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 nine one 35 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, 2022. March 31, 2021 not 10 March 31, 2021 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 Use of Estimates The preparation of the consolidated 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, other loss contingencies, and impairment of long lived assets. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of costs and expenses that are not may Reclassifications Certain reclassifications have been made to the comparative period amounts in order to conform to the current period presentation. In particular, the assets, liabilities, profit and loss, and cash flows of GB Sciences Nevada LLC, GB Sciences Las Vegas, LLC, and GB Sciences Nopah, LLC, have been separated from the comparative period amounts to conform to the current period presentation as discontinued operations as the result of the pending sale of the Company's Nevada operations. The reclassifications had no Discontinued Operations See 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 June 30, 2021 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 material revenue source is part of discontinued operations and derives from sales of cannabis and cannabis products, distinct physical goods. Under ASC 606, may may one 606 not Income Taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in financial statements or tax returns. Deferred tax items are reflected at the enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Due to the uncertainty regarding the success of future operations, management has valued the deferred tax asset allowance at 100% Because the Company operates in the State-licensed cannabis industry through the Nevada Subsidiaries, it is subject to the limitations of Internal Revenue Code Section 280E “280E” 280E, no may not 280E. 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 160,314,865 and 164,049,941 potentially dilutive common shares at June 30, 2021 March 31, 2021 not Recent Accounting Pronouncements Standards Not In May 2021, No. 2021 04, 2021 04 April 1, 2022. 2021 04 not On June 16, 2016, No. 2016 13, April 1, 2023. 2016 13 In June 2020, No. 2020 06, may April 1, 2024. 2020 06 All other newly issued accounting pronouncements have been deemed either immaterial or not |
Note 2 - Going Concern
Note 2 - Going Concern | 3 Months Ended |
Jun. 30, 2021 | |
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 $104,681,665 at June 30, 2021 June 30, 2021 March 31, 2021 three June 30, 2021 three June 30, 2020 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 three June 30, 2020 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 | 3 Months Ended |
Jun. 30, 2021 | |
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 Nevada, LLC, GB Sciences Las Vegas, LLC, and GB Sciences Nopah, LLC in discontinued operations due to the pending sale of the Company's Nevada cultivation and extraction facilities 9 The assets and liabilities associated with discontinued operations included in our condensed consolidated balance sheets as of June 30, 2021 March 31, 2021 June 30, 2021 March 31, 2021 Continuing Discontinued Total Continuing Discontinued Total ASSETS CURRENT ASSETS Cash $ 582,971 $ 112,696 $ 695,667 $ 793,040 $ 352,593 $ 1,145,633 Accounts receivable, net - 643,594 643,594 - 400,175 400,175 Inventory, net - 1,462,009 1,462,009 - 1,689,304 1,689,304 Prepaid and other current assets 296,081 30,458 326,539 256,251 52,492 308,743 TOTAL CURRENT ASSETS 879,052 2,248,757 3,127,809 1,049,291 2,494,564 3,543,855 Property and equipment, net 21,895 4,736,272 4,758,167 25,022 4,876,247 4,901,269 Intangible assets, net 1,797,920 571,264 2,369,184 1,706,762 571,264 2,278,026 Deposits and other noncurrent assets - 75,469 75,469 - 82,904 82,904 TOTAL ASSETS $ 2,698,867 $ 7,631,762 $ 10,330,629 $ 2,781,075 $ 8,024,979 $ 10,806,054 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,463,806 $ 385,320 $ 1,849,126 $ 1,412,459 $ 509,477 $ 1,921,936 Accrued interest 521,145 49,211 570,356 493,741 49,211 542,952 Accrued expenses 1,031,003 122,714 1,153,717 957,946 105,421 1,063,367 Notes payable, net 3,619,186 485,000 4,104,186 3,594,804 485,000 4,079,804 Indebtedness to related parties 84,913 - 84,913 84,913 - 84,913 Income tax payable - 793,292 793,292 - 761,509 761,509 Finance lease obligations, current - 152,250 152,250 - 143,967 143,967 TOTAL CURRENT LIABILITIES 6,720,053 1,987,787 8,707,840 6,543,863 2,054,585 8,598,448 Convertible notes payable 305,877 - 305,877 292,410 - 292,410 Finance lease obligations, long term - 3,347,363 3,347,363 - 3,389,124 3,389,124 TOTAL LIABILITIES $ 7,025,930 $ 5,335,150 $ 12,361,080 $ 6,836,273 $ 5,443,709 $ 12,279,982 Discontinued Operations - Revenues and Expenses The revenues and expenses associated with discontinued operations included in our condensed consolidated statements of operations for the three June 30, 2021 2020 For the Three Months Ended June 30, 2021 2020 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ - $ 1,342,586 $ 1,342,586 $ - $ 551,197 $ 551,197 Cost of goods sold - (1,219,041 ) (1,219,041 ) - (491,795 ) (491,795 ) Gross profit/(loss) - 123,545 123,545 - 59,402 59,402 General and administrative expenses 493,405 84,078 577,483 515,253 289,455 804,708 INCOME/(LOSS) FROM OPERATIONS (493,405 ) 39,467 (453,938 ) (515,253 ) (230,053 ) (745,306 ) OTHER EXPENSE Interest expense (65,254 ) (102,331 ) (167,585 ) (662,370 ) (132,943 ) (795,313 ) Debt default penalty - - - (286,059 ) - (286,059 ) Other income/(expense) - 20,889 20,889 (11,182 ) - (11,182 ) Total other expense (65,254 ) (81,442 ) (146,696 ) (959,611 ) (132,943 ) (1,092,554 ) LOSS BEFORE INCOME TAXES (558,659 ) (41,975 ) (600,634 ) (1,474,864 ) (362,996 ) (1,837,860 ) Income tax expense - (31,783 ) (31,783 ) - (8,840 ) (8,840 ) NET LOSS $ (558,659 ) $ (73,758 ) $ (632,417 ) $ (1,474,864 ) $ (371,836 ) $ (1,846,700 ) 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 June 30, 2021 March 31, 2021 June 30, 2021 March 31, 2021 Raw materials $ 112,857 $ 86,076 Work in progress 814,166 743,844 Finished goods 601,807 866,195 Subtotal 1,528,830 1,696,115 Allowance to reduce inventory to net realizable value (66,821 ) (6,811 ) Total inventory, net $ 1,462,009 $ 1,689,304 Discontinued Operations - Leases The Company evaluates all finance and operating leases, and they are measured on the balance sheet with a lease liability and right-of-use asset (“ROU”) at inception. 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. 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 Company's only remaining lease commitment is a finance lease for the Teco Facility, which is classified as discontinued operations in the Company's unaudited condensed consolidated financial statements. This lease has a remaining non-cancelable term that ends December 31, 2025 December 31, 2030. Finance leases are included in property and equipment (long term assets from discontinued operations), finance lease obligations, short term (current liabilities from discontinued operations), and finance lease obligations, long term (long term liabilities from discontinued operations), on the unaudited condensed consolidated balance sheets. During the three June 30, 2021 The future minimum lease payments of lease liabilities as of June 30, 2021 Year Ending March 31, Finance Leases 2022 (9 months) $ 409,235 2023 560,625 2024 577,444 2025 594,767 2026 612,610 Thereafter 3,168,492 Total minimum lease payments 5,923,173 Less: Amount representing interest (2,423,560 ) Present value of minimum lease payments 3,499,613 Less: Current maturities of capital lease obligations (152,250 ) Long-term capital lease obligations $ 3,347,363 Discontinued Operations - 8% Line of Credit dated November 27, 2019 In connection with the Binding Letter of Intent dated November 27, 2019 ( 9 not March 31, 2021, December 29, 2020, no November 30, 2020. June 30, 2021 |
Note 4 - Notes Payable and Line
Note 4 - Notes Payable and Line of Credit | 3 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | Note 4 0% October 23, 2017 On October 23, 2017, one three January 1, 2018. To date, the Company has made principal payments totaling $330,555 and the principal balance of the note was $369,445 at June 30, 2021 June 30, 2021 On August 10, 2020, 9 July 31, 2021, no no 8% July 24, 2020 On July 24, 2020, "July 24 may 8% February 28, 2019. July 24 July 24 may 9 On December 29, 2020, three $325,000 July 24 July 24 one not November 30, 2020. not July 24 March 31, 2021 ( two $325,000 $325,000 July 24 June 30, 2021 $325,000 March 31, 2021, June 30, 2021 June 30, 2021 Summary of Notes and Convertible Notes Payable As of June 30, 2021 As of June 30, 2021 Short-Term Notes Payable Face Value Discount Carrying Value 0% Note Payable dated October 23, 2017 (Note 4) $ 369,445 $ - $ 369,445 8% Line of Credit dated November 27, 2019 (Note 3) 485,000 - 485,000 8% Line of Credit dated July 24, 2020 (Note 4) 1,025,000 - 1,025,000 6% Convertible promissory notes payable (Note 5) 1,060,000 - 1,060,000 8% Convertible Secured Promissory Note dated February 28, 2019, as amended (Note 5) 1,111,863 - 1,111,863 6% Convertible notes payable due January 18, 2022 (Note 5) 325,000 (272,122 ) 52,878 Total short-term notes and convertible notes payable 4,376,308 (272,122 ) 4,104,186 Less: Notes payable classified as discontinued operations (485,000 ) - (485,000 ) Total short-term notes payable classified as continuing operations $ 3,891,308 $ (272,122 ) $ 3,619,186 6% Convertible promissory notes payable due September 30, 2023 (Note 5) 197,000 (37,204 ) 159,796 6% Convertible note payable due December 31, 2023 (Note 5) 250,000 (103,919 ) 146,081 Total long-term notes payable classified as continuing operations $ 447,000 $ (141,123 ) $ 305,877 |
Note 5 - Convertible Notes
Note 5 - Convertible Notes | 3 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Convertible Debt [Text Block] | Note 5 March 2017 July 2017 In March 2017, third three March 2017 May 2017, three three In July 2017, third three July 2017 December 2017, three three All notes from the March July 2017 March 31, 2021, $197,000 three September 30, 2023. 10% three June 30, 2021 $197,000 June 30, 2021 Three convertible notes totaling $1,060,000 held by the same investor are past maturity and are currently in default. The Company is negotiating the terms of an extension with the note holder. The notes do not three June 30, 2021 no $1,060,000 June 30, 2021 8% Convertible Promissory Note dated February 28, 2019 On February 28, 2019, August 28, 2020, On May 28, 2019, February 28, 2019. On July 12, 2019, July 12, 2019, The Company evaluated the modification under the guidance in ASC 470 50 10% On August 1, 2019, On October 23, 2019, October 23, 2019 We evaluated the modification under the guidance in ASC 470 50 10% 2nd March 31, 2020. On November 27, 2019, “2nd 2nd We evaluated the modification under the guidance in ASC 470 50 2nd 10% 2nd 2nd On December 16, 2019, On December 29, 2020, November 30, 2020. During the quarter ended March 31, 2021, March 31, 2021, June 30, 2021 no 8% April 23, 2019 On April 23, 2019, April 22, 2020. During the year ended March 31, 2020, October 30, 2019, November 18, 2019, On April 22, 2020, 10% On May 20, 2020, July 14, 2020, On November 20, 2020, December 8, 2020. December 8, 2020, December 9, 2020, not December 16, 2020, December 18, 2020, no December 2020 $575,000 6% On December 18, 2020, 19 March 31, 2021, three December 2021, December 2023. At June 30, 2021 three June 30, 2021 |
Note 6 - Capital Transactions
Note 6 - Capital Transactions | 3 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | Note 6 Sale of Common Stock and Exercise of Warrants On April 1, 2020, $.05 July 18, 2021, September 30, 2021 three three June 30, 2021 |
Note 7 - Commitments and Contin
Note 7 - Commitments and Contingencies | 3 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | Note 7 On April 22, 2020, May 20, 2020, July 14, 2020, December 16, 2020 5 On April 22, 2020, September 17, 2020, From time to time, the Company may not |
Note 8 - Related Party Transact
Note 8 - Related Party Transactions | 3 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | Note 8 As of June 30, 2021 |
Note 9 - Sale of Membership Int
Note 9 - Sale of Membership Interests in Nevada Subsidiaries | 3 Months Ended |
Jun. 30, 2021 | |
Nevada Subsidiaries [Member] | |
Notes to Financial Statements | |
Noncontrolling Interest Disclosure [Text Block] | Note 9 On November 15, 2019, March 24, 2020, 30 On July 24, 2020, "July 24 July 24 4 On December 29, 2020, one three not July 24 July 24 three $325,000, $4,000,000 The Omnibus Amendment also amends the Management Services Agreement to provide that no November 30, 2020. June 30, 2021 three 36 30 On May 11, 2021, December 31, 2021, $4,000,000 June 30, 2021 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, August 10, 2020, October 23, 2017 ( 4 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 consolidated financial statements. |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 3 Months Ended |
Jun. 30, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | Note 10 Capital Transactions On July 2, 2021, July 1, 2022 December 2020. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Jun. 30, 2021 | |
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, 2022. March 31, 2021 not 10 March 31, 2021 |
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 |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates The preparation of the consolidated 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, other loss contingencies, and impairment of long lived assets. 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 in order to conform to the current period presentation. In particular, the assets, liabilities, profit and loss, and cash flows of GB Sciences Nevada LLC, GB Sciences Las Vegas, LLC, and GB Sciences Nopah, LLC, have been separated from the comparative period amounts to conform to the current period presentation as discontinued operations as the result of the pending sale of the Company's Nevada operations. The reclassifications had no |
Discontinued Operations, Policy [Policy Text Block] | Discontinued Operations See 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 June 30, 2021 |
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 material revenue source is part of discontinued operations and derives from sales of cannabis and cannabis products, distinct physical goods. Under ASC 606, may may one 606 not |
Income Tax, Policy [Policy Text Block] | Income Taxes The Company recognizes deferred tax assets and liabilities for the expected future tax consequences of events that have been included in financial statements or tax returns. Deferred tax items are reflected at the enacted tax laws and statutory tax rates applicable to the periods in which the differences are expected reverse. Valuation allowances are established when necessary to reduce deferred tax assets to the amount expected to be realized. Due to the uncertainty regarding the success of future operations, management has valued the deferred tax asset allowance at 100% Because the Company operates in the State-licensed cannabis industry through the Nevada Subsidiaries, it is subject to the limitations of Internal Revenue Code Section 280E “280E” 280E, no may not 280E. |
Earnings Per Share, Policy [Policy Text Block] | 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 160,314,865 and 164,049,941 potentially dilutive common shares at June 30, 2021 March 31, 2021 not |
New Accounting Pronouncements, Policy [Policy Text Block] | Recent Accounting Pronouncements Standards Not In May 2021, No. 2021 04, 2021 04 April 1, 2022. 2021 04 not On June 16, 2016, No. 2016 13, April 1, 2023. 2016 13 In June 2020, No. 2020 06, may April 1, 2024. 2020 06 All other newly issued accounting pronouncements have been deemed either immaterial or not |
Note 3 - Discontinued Operati_2
Note 3 - Discontinued Operations (Tables) | 3 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | June 30, 2021 March 31, 2021 Continuing Discontinued Total Continuing Discontinued Total ASSETS CURRENT ASSETS Cash $ 582,971 $ 112,696 $ 695,667 $ 793,040 $ 352,593 $ 1,145,633 Accounts receivable, net - 643,594 643,594 - 400,175 400,175 Inventory, net - 1,462,009 1,462,009 - 1,689,304 1,689,304 Prepaid and other current assets 296,081 30,458 326,539 256,251 52,492 308,743 TOTAL CURRENT ASSETS 879,052 2,248,757 3,127,809 1,049,291 2,494,564 3,543,855 Property and equipment, net 21,895 4,736,272 4,758,167 25,022 4,876,247 4,901,269 Intangible assets, net 1,797,920 571,264 2,369,184 1,706,762 571,264 2,278,026 Deposits and other noncurrent assets - 75,469 75,469 - 82,904 82,904 TOTAL ASSETS $ 2,698,867 $ 7,631,762 $ 10,330,629 $ 2,781,075 $ 8,024,979 $ 10,806,054 LIABILITIES CURRENT LIABILITIES Accounts payable $ 1,463,806 $ 385,320 $ 1,849,126 $ 1,412,459 $ 509,477 $ 1,921,936 Accrued interest 521,145 49,211 570,356 493,741 49,211 542,952 Accrued expenses 1,031,003 122,714 1,153,717 957,946 105,421 1,063,367 Notes payable, net 3,619,186 485,000 4,104,186 3,594,804 485,000 4,079,804 Indebtedness to related parties 84,913 - 84,913 84,913 - 84,913 Income tax payable - 793,292 793,292 - 761,509 761,509 Finance lease obligations, current - 152,250 152,250 - 143,967 143,967 TOTAL CURRENT LIABILITIES 6,720,053 1,987,787 8,707,840 6,543,863 2,054,585 8,598,448 Convertible notes payable 305,877 - 305,877 292,410 - 292,410 Finance lease obligations, long term - 3,347,363 3,347,363 - 3,389,124 3,389,124 TOTAL LIABILITIES $ 7,025,930 $ 5,335,150 $ 12,361,080 $ 6,836,273 $ 5,443,709 $ 12,279,982 For the Three Months Ended June 30, 2021 2020 Continuing Discontinued Total Continuing Discontinued Total Sales revenue $ - $ 1,342,586 $ 1,342,586 $ - $ 551,197 $ 551,197 Cost of goods sold - (1,219,041 ) (1,219,041 ) - (491,795 ) (491,795 ) Gross profit/(loss) - 123,545 123,545 - 59,402 59,402 General and administrative expenses 493,405 84,078 577,483 515,253 289,455 804,708 INCOME/(LOSS) FROM OPERATIONS (493,405 ) 39,467 (453,938 ) (515,253 ) (230,053 ) (745,306 ) OTHER EXPENSE Interest expense (65,254 ) (102,331 ) (167,585 ) (662,370 ) (132,943 ) (795,313 ) Debt default penalty - - - (286,059 ) - (286,059 ) Other income/(expense) - 20,889 20,889 (11,182 ) - (11,182 ) Total other expense (65,254 ) (81,442 ) (146,696 ) (959,611 ) (132,943 ) (1,092,554 ) LOSS BEFORE INCOME TAXES (558,659 ) (41,975 ) (600,634 ) (1,474,864 ) (362,996 ) (1,837,860 ) Income tax expense - (31,783 ) (31,783 ) - (8,840 ) (8,840 ) NET LOSS $ (558,659 ) $ (73,758 ) $ (632,417 ) $ (1,474,864 ) $ (371,836 ) $ (1,846,700 ) |
Discontinued Operations, Held-for-sale or Disposed of by Sale [Member] | |
Notes Tables | |
Schedule of Inventory, Current [Table Text Block] | June 30, 2021 March 31, 2021 Raw materials $ 112,857 $ 86,076 Work in progress 814,166 743,844 Finished goods 601,807 866,195 Subtotal 1,528,830 1,696,115 Allowance to reduce inventory to net realizable value (66,821 ) (6,811 ) Total inventory, net $ 1,462,009 $ 1,689,304 |
Finance Lease, Liability, Fiscal Year Maturity [Table Text Block] | Year Ending March 31, Finance Leases 2022 (9 months) $ 409,235 2023 560,625 2024 577,444 2025 594,767 2026 612,610 Thereafter 3,168,492 Total minimum lease payments 5,923,173 Less: Amount representing interest (2,423,560 ) Present value of minimum lease payments 3,499,613 Less: Current maturities of capital lease obligations (152,250 ) Long-term capital lease obligations $ 3,347,363 |
Note 4 - Notes Payable and Li_2
Note 4 - Notes Payable and Line of Credit (Tables) | 3 Months Ended |
Jun. 30, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | As of June 30, 2021 Short-Term Notes Payable Face Value Discount Carrying Value 0% Note Payable dated October 23, 2017 (Note 4) $ 369,445 $ - $ 369,445 8% Line of Credit dated November 27, 2019 (Note 3) 485,000 - 485,000 8% Line of Credit dated July 24, 2020 (Note 4) 1,025,000 - 1,025,000 6% Convertible promissory notes payable (Note 5) 1,060,000 - 1,060,000 8% Convertible Secured Promissory Note dated February 28, 2019, as amended (Note 5) 1,111,863 - 1,111,863 6% Convertible notes payable due January 18, 2022 (Note 5) 325,000 (272,122 ) 52,878 Total short-term notes and convertible notes payable 4,376,308 (272,122 ) 4,104,186 Less: Notes payable classified as discontinued operations (485,000 ) - (485,000 ) Total short-term notes payable classified as continuing operations $ 3,891,308 $ (272,122 ) $ 3,619,186 6% Convertible promissory notes payable due September 30, 2023 (Note 5) 197,000 (37,204 ) 159,796 6% Convertible note payable due December 31, 2023 (Note 5) 250,000 (103,919 ) 146,081 Total long-term notes payable classified as continuing operations $ 447,000 $ (141,123 ) $ 305,877 |
Note 1 - Background and Signi_2
Note 1 - Background and Significant Accounting Policies (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended |
Jun. 30, 2021USD ($)shares | Mar. 31, 2021shares | |
Number of Operating Segments | 1 | |
Impairment, Long-Lived Asset, Held-for-Use, Total | $ | $ 0 | |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 160,314,865 | 164,049,941 |
Note 2 - Going Concern (Details
Note 2 - Going Concern (Details Textual) - USD ($) | 3 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | |
Retained Earnings (Accumulated Deficit), Ending Balance | $ (104,681,665) | $ (103,886,232) | |
Working Capital (Deficit) | (5,580,031) | (5,054,593) | |
Net Cash Provided by (Used in) Operating Activities, Total | (636,583) | $ (323,845) | |
Cash Provided by (Used in) Operating Activities, Discontinued Operations | (2,954) | $ 235,779 | |
Discontinued Operations [Member] | |||
Working Capital (Deficit) | $ 260,970 | $ 439,979 |
Note 3 - Discontinued Operati_3
Note 3 - Discontinued Operations (Details Textual) - USD ($) | 3 Months Ended | 16 Months Ended | |
Jun. 30, 2021 | Mar. 31, 2021 | Nov. 27, 2019 | |
Line of Credit [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||
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 | ||
Long-term Line of Credit, Total | $ 485,000 | ||
Interest Payable | 49,211 | ||
Discontinued Operations [Member] | |||
Finance Lease Costs | 140,258 | ||
Finance Lease, Interest Expense | 101,583 | ||
Finance Lease, Right-of-Use Asset, Amortization | $ 38,675 | ||
Maximum [Member] | |||
Lessee, Finance Lease, Discount Rate | 11.50% |
Note 3 - Discontinued Operati_4
Note 3 - Discontinued Operations - Discontinued Operations (Details) - USD ($) | 3 Months Ended | ||
Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2021 | |
Cash | $ 582,971 | $ 793,040 | |
Prepaid and other current assets | 296,081 | 256,251 | |
TOTAL CURRENT ASSETS | 3,127,809 | 3,543,855 | |
Property and equipment, net | 21,895 | 25,022 | |
Intangible assets, net | 1,797,920 | 1,706,762 | |
TOTAL ASSETS | 10,330,629 | 10,806,054 | |
Accounts payable | 1,463,806 | 1,412,459 | |
Accrued interest | 521,145 | 493,741 | |
Accrued expenses | 1,031,003 | 957,946 | |
Indebtedness to related parties | 84,913 | 84,913 | |
TOTAL CURRENT LIABILITIES | 8,707,840 | 8,598,448 | |
Convertible notes payable | 305,877 | 292,410 | |
TOTAL LIABILITIES | 12,361,080 | 12,279,982 | |
Sales revenue | 0 | $ 0 | |
Cost of goods sold | 0 | 0 | |
Gross profit | 0 | 0 | |
General and administrative expenses | 493,405 | 515,253 | |
Interest expense | (65,254) | (662,370) | |
Debt default penalty | 0 | (286,059) | |
Other expense | 0 | 11,182 | |
Total other expense | (65,254) | (959,611) | |
Income tax expense | 0 | 0 | |
NET LOSS | (73,758) | (371,836) | |
Continuing Operations [Member] | |||
Cash | 582,971 | 793,040 | |
Accounts receivable, net | 0 | 0 | |
Inventory, net | 0 | 0 | |
Prepaid and other current assets | 296,081 | 256,251 | |
TOTAL CURRENT ASSETS | 879,052 | 1,049,291 | |
Property and equipment, net | 21,895 | 25,022 | |
Intangible assets, net | 1,797,920 | 1,706,762 | |
Deposits and other noncurrent assets | 0 | 0 | |
TOTAL ASSETS | 2,698,867 | 2,781,075 | |
Accounts payable | 1,463,806 | 1,412,459 | |
Accrued interest | 521,145 | 493,741 | |
Accrued expenses | 1,031,003 | 957,946 | |
Notes payable, net | 3,619,186 | 3,594,804 | |
Indebtedness to related parties | 84,913 | 84,913 | |
Income tax payable | 0 | 0 | |
Finance lease obligations, current | 0 | 0 | |
TOTAL CURRENT LIABILITIES | 6,720,053 | 6,543,863 | |
Convertible notes payable | 305,877 | 292,410 | |
Finance lease obligations, long term | 0 | 0 | |
TOTAL LIABILITIES | 7,025,930 | 6,836,273 | |
Sales revenue | 0 | 0 | |
Cost of goods sold | 0 | 0 | |
Gross profit | 0 | 0 | |
General and administrative expenses | 493,405 | 515,253 | |
INCOME/(LOSS) FROM OPERATIONS | (493,405) | (515,253) | |
Interest expense | (65,254) | (662,370) | |
Debt default penalty | 0 | (286,059) | |
Other expense | 0 | (11,182) | |
Total other expense | (65,254) | (959,611) | |
LOSS BEFORE INCOME TAXES | (558,659) | (1,474,864) | |
Income tax expense | 0 | 0 | |
NET LOSS | (558,659) | (1,474,864) | |
Discontinued Operations [Member] | |||
Cash | 112,696 | 352,593 | |
Accounts receivable, net | 643,594 | 400,175 | |
Inventory, net | 1,462,009 | 1,689,304 | |
Prepaid and other current assets | 30,458 | 52,492 | |
TOTAL CURRENT ASSETS | 2,248,757 | 2,494,564 | |
Property and equipment, net | 4,736,272 | 4,876,247 | |
Intangible assets, net | 571,264 | 571,264 | |
Deposits and other noncurrent assets | 75,469 | 82,904 | |
TOTAL ASSETS | 7,631,762 | 8,024,979 | |
Accounts payable | 385,320 | 509,477 | |
Accrued interest | 49,211 | 49,211 | |
Accrued expenses | 122,714 | 105,421 | |
Notes payable, net | 485,000 | 485,000 | |
Indebtedness to related parties | 0 | 0 | |
Income tax payable | 793,292 | 761,509 | |
Finance lease obligations, current | 152,250 | 143,967 | |
TOTAL CURRENT LIABILITIES | 1,987,787 | 2,054,585 | |
Convertible notes payable | 0 | 0 | |
Finance lease obligations, long term | 3,347,363 | 3,389,124 | |
TOTAL LIABILITIES | 5,335,150 | 5,443,709 | |
Sales revenue | 1,342,586 | 551,197 | |
Cost of goods sold | (1,219,041) | (491,795) | |
Gross profit | 123,545 | 59,402 | |
General and administrative expenses | 84,078 | 289,455 | |
INCOME/(LOSS) FROM OPERATIONS | 39,467 | (230,053) | |
Interest expense | (102,331) | (132,943) | |
Debt default penalty | 0 | 0 | |
Other expense | 20,889 | 0 | |
Total other expense | (81,442) | (132,943) | |
LOSS BEFORE INCOME TAXES | (41,975) | (362,996) | |
Income tax expense | (31,783) | (8,840) | |
NET LOSS | (73,758) | (371,836) | |
Segment, Continuing and Discontinued Operations [Member] | |||
Cash | 695,667 | 1,145,633 | |
Accounts receivable, net | 643,594 | 400,175 | |
Inventory, net | 1,462,009 | 1,689,304 | |
Prepaid and other current assets | 326,539 | 308,743 | |
TOTAL CURRENT ASSETS | 3,127,809 | 3,543,855 | |
Property and equipment, net | 4,758,167 | 4,901,269 | |
Intangible assets, net | 2,369,184 | 2,278,026 | |
Deposits and other noncurrent assets | 75,469 | 82,904 | |
TOTAL ASSETS | 10,330,629 | 10,806,054 | |
Accounts payable | 1,849,126 | 1,921,936 | |
Accrued interest | 570,356 | 542,952 | |
Accrued expenses | 1,153,717 | 1,063,367 | |
Notes payable, net | 4,104,186 | 4,079,804 | |
Indebtedness to related parties | 84,913 | 84,913 | |
Income tax payable | 793,292 | 761,509 | |
Finance lease obligations, current | 152,250 | 143,967 | |
TOTAL CURRENT LIABILITIES | 8,707,840 | 8,598,448 | |
Convertible notes payable | 305,877 | 292,410 | |
Finance lease obligations, long term | 3,347,363 | 3,389,124 | |
TOTAL LIABILITIES | 12,361,080 | $ 12,279,982 | |
Sales revenue | 1,342,586 | 551,197 | |
Cost of goods sold | (1,219,041) | (491,795) | |
Gross profit | 123,545 | 59,402 | |
General and administrative expenses | 577,483 | 804,708 | |
INCOME/(LOSS) FROM OPERATIONS | (453,938) | (745,306) | |
Interest expense | (167,585) | (795,313) | |
Debt default penalty | 0 | (286,059) | |
Other expense | 20,889 | (11,182) | |
Total other expense | (146,696) | (1,092,554) | |
LOSS BEFORE INCOME TAXES | (600,634) | (1,837,860) | |
Income tax expense | (31,783) | (8,840) | |
NET LOSS | $ (632,417) | $ (1,846,700) |
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 ($) | Jun. 30, 2021 | Mar. 31, 2021 |
Raw materials | $ 112,857 | $ 86,076 |
Work in progress | 814,166 | 743,844 |
Finished goods | 601,807 | 866,195 |
Subtotal | 1,528,830 | 1,696,115 |
Allowance to reduce inventory to net realizable value | (66,821) | (6,811) |
Total inventory, net | $ 1,462,009 | $ 1,689,304 |
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] | Jun. 30, 2021USD ($) |
2022 (9 months) | $ 409,235 |
2023 | 560,625 |
2024 | 577,444 |
2025 | 594,767 |
2026 | 612,610 |
Thereafter | 3,168,492 |
Total minimum lease payments, finance leases | 5,923,173 |
Less: Amount representing interest, finance leases | (2,423,560) |
Present value of minimum lease payments, finance leases | 3,499,613 |
Less: Current maturities of capital lease obligations, finance leases | (152,250) |
Long-term capital lease obligations, finance leases | $ 3,347,363 |
Note 4 - Notes Payable and Li_3
Note 4 - Notes Payable and Line of Credit (Details Textual) - USD ($) | Dec. 29, 2020 | Oct. 23, 2017 | Jun. 30, 2021 | Mar. 31, 2021 | Jun. 30, 2021 | Aug. 10, 2020 | Jul. 24, 2020 | Mar. 24, 2020 |
The July 24 Note [Member] | ||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 975,000 | |||||||
Gain (Loss) on Amendment to Line of Credit | (650,000) | |||||||
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 | ||||||
Teco [Member] | The July 24 Note [Member] | ||||||||
Financing Receivable, after Allowance for Credit Loss, Total | 3,025,000 | 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 | |||||||
Interest Payable | 58,495 | 58,495 | ||||||
The July 24 Note [Member] | Revolving Credit Facility [Member] | ||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||
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 | |||||||
Receivable with Imputed Interest, Effective Yield (Interest Rate) | 20.30% | |||||||
Debt Instrument, Unamortized Discount, Total | $ 178,933 | 0 | 0 | |||||
Repayments of Debt | 330,555 | |||||||
Notes Payable, Current, Total | $ 369,445 | $ 369,445 | ||||||
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% | |||||||
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 4 - Notes Payable and Li_4
Note 4 - Notes Payable and Line of Credit - Schedule of Debt Payable (Details) - USD ($) | Jun. 30, 2021 | Mar. 31, 2021 | Oct. 23, 2017 |
Discount, short-term notes payable | $ (272,122) | $ (296,504) | |
Discount, long-term notes payable | (141,123) | $ (154,590) | |
Promissory Note [Member] | |||
Face value, short term notes and convertible notes payable classified as continuing operations | 447,000 | ||
Total long-term notes payable classified as continuing operations | 447,000 | ||
Total long-term notes payable classified as continuing operations | (141,123) | ||
Carrying Value, long-term notes payable | 305,877 | ||
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 | (37,204) | ||
Carrying Value, long-term notes payable | 159,796 | ||
The 6 % Note Payable Dated December 31, 2023 [Member] | Convertible Debt [Member] | |||
Face Value, short-term notes payable | 250,000 | ||
Discount, long-term notes payable | (103,919) | ||
Carrying Value, long-term notes payable | 146,081 | ||
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 | 0 | ||
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 | 0 | ||
Carrying Value, short-term notes payable | 1,060,000 | ||
Convertible Notes Payable [Member] | The 6% Notes Payable Due January 18, 2022 [Member] | |||
Face Value, short-term notes payable | 325,000 | ||
Discount, short-term notes payable | (272,122) | ||
Carrying Value, short-term notes payable | 52,878 | ||
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 | 0 | ||
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 | 0 | ||
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 | 1,111,863 | ||
Discount, short-term notes payable | 0 | ||
Carrying Value, short-term notes payable | 1,111,863 | ||
Promissory Note [Member] | |||
Face Value, short-term notes payable | 4,376,308 | ||
Discount, short-term notes payable | (272,122) | ||
Carrying Value, short-term notes payable | 4,104,186 | ||
Less: Notes payable classified as discontinued operations, face value | (485,000) | ||
Less: Notes payable classified as discontinued operations, discount | 0 | ||
Less: Notes payable classified as discontinued operations, carrying value | (485,000) | ||
Face value, short term notes and convertible notes payable classified as continuing operations | 3,891,308 | ||
Discount, short-term notes payable classified as continuing operations | (272,122) | ||
Total short-term notes payable classified as continuing operations | 3,619,186 | ||
Total long-term notes payable classified as continuing operations | $ 3,891,308 |
Note 5 - Convertible Notes (Det
Note 5 - 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 | Jul. 31, 2017USD ($)$ / shares | Mar. 31, 2017USD ($)$ / shares | Jun. 30, 2021USD ($) | Mar. 31, 2021USD ($)$ / sharesshares | Jun. 30, 2020USD ($) | May 31, 2017USD ($)$ / sharesshares | Dec. 31, 2017USD ($)$ / sharesshares | Mar. 31, 2021USD ($)$ / sharesshares | Mar. 31, 2020USD ($) | Dec. 18, 2020$ / shares | Dec. 09, 2020USD ($) | Nov. 20, 2020USD ($) |
Amortization of Debt Discount (Premium) | $ 37,849 | $ 510,885 | |||||||||||||||||||||||
Proceeds from Convertible Debt | 0 | $ 150,000 | |||||||||||||||||||||||
Convertible Notes Payable, Current | 3,619,186 | $ 3,594,804 | $ 3,594,804 | ||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Current | 272,122 | 296,504 | 296,504 | ||||||||||||||||||||||
Convertible Notes Payable, Noncurrent | 305,877 | 292,410 | 292,410 | ||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Noncurrent | 141,123 | $ 154,590 | $ 154,590 | ||||||||||||||||||||||
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 | $ 3,006,015 | $ 3,006,015 | |||||||||||||||||||||||
Litigation Settlement, One Time Required Payment | 25,000 | ||||||||||||||||||||||||
Litigation Settlement, Weekly Required Payment | $ 25,000 | ||||||||||||||||||||||||
Litigation Settlement, Payment | $ 3,006,015 | ||||||||||||||||||||||||
Teco [Member] | |||||||||||||||||||||||||
Disposal Group, Including Discontinued Operation, Consideration | 4,000,000 | ||||||||||||||||||||||||
Convertible Debt [Member] | |||||||||||||||||||||||||
Interest Expense, Debt, Total | 15,856 | ||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 244,129 | ||||||||||||||||||||||||
Debt Instrument, Debt Default, Amount | 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 | |||||||||||||||||||||||
Warrants and Rights Outstanding, Term (Year) | 3 years | 3 years | |||||||||||||||||||||||
Warrants and Rights Outstanding | $ 13,396 | $ 13,396 | |||||||||||||||||||||||
March And July 2017 Convertible Note Offering [Member] | Convertible Debt [Member] | |||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | 46,886 | 46,886 | |||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 33,490 | ||||||||||||||||||||||||
Interest Expense, Debt, Total | 6,303 | ||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 3,356 | ||||||||||||||||||||||||
Interest Payable | 47,279 | ||||||||||||||||||||||||
Interest Payable, Accrued Prior to Extinguishments | 38,438 | ||||||||||||||||||||||||
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 | ||||||||||||||||||||||||
The 6 % Convertible Note Payable Dated December 31, 2023 [Member] | Three Investors [Member] | |||||||||||||||||||||||||
Debt Instrument, Face Amount | 575,000 | 575,000 | |||||||||||||||||||||||
The 6 % Convertible Note Payable Mature in December 2021 [Member] | Three Investors [Member] | |||||||||||||||||||||||||
Debt Instrument, Face Amount | 325,000 | 325,000 | |||||||||||||||||||||||
The 6 % Convertible Note Payable Mature in December 2023 [Member] | |||||||||||||||||||||||||
Interest Expense, Debt, Total | 24,458 | ||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 15,857 | ||||||||||||||||||||||||
Convertible Notes Payable, Current | 52,878 | ||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Current | 272,122 | ||||||||||||||||||||||||
Convertible Notes Payable, Noncurrent | 146,081 | ||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Noncurrent | 103,919 | ||||||||||||||||||||||||
The 6 % Convertible Note Payable Mature in December 2023 [Member] | Three Investors [Member] | |||||||||||||||||||||||||
Debt Instrument, Face Amount | 250,000 | 250,000 | |||||||||||||||||||||||
The 6 Percent Convertible Note Payable Issued With In Money Conversion Features [Member] | |||||||||||||||||||||||||
Debt Instrument, Face Amount | 425,000 | 425,000 | |||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 74,750 | 74,750 | |||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | 347,000 | ||||||||||||||||||||||||
Proceeds from Convertible Debt | $ 500,250 | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||
Debt Instrument, Extended Amount | $ 197,000 | $ 197,000 | |||||||||||||||||||||||
Convertible Notes Payable, Total | 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 | ||||||||||||||||||||||||
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 | |||||||||||||||||||||||
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% | ||||||||||||||||||||||||
Promissory Note [Member] | |||||||||||||||||||||||||
Debt Instrument, Face Amount | 4,376,308 | ||||||||||||||||||||||||
Short-term Debt, Total | 4,104,186 | ||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Current | 272,122 | ||||||||||||||||||||||||
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% | ||||||||||||||||||||||
Debt Instrument, Face Amount | $ 1,500,000 | ||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 9,579 | ||||||||||||||||||||||||
Debt Instrument, Convertible, Beneficial Conversion Feature | $ 92,796 | $ 133,806 | $ 176,471 | ||||||||||||||||||||||
Interest Expense, Debt, Total | $ 584,842 | ||||||||||||||||||||||||
Amortization of Debt Discount (Premium) | 57,551 | ||||||||||||||||||||||||
Interest Payable | 144,994 | ||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | 120,000 | 110,000 | $ 160,000 | ||||||||||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | (62,449) | $ 30,000 | (100,421) | 100,000 | |||||||||||||||||||||
Short-term Debt, Total | 1,271,863 | 1,361,863 | $ 1,269,067 | $ 1,361,863 | 1,338,057 | 1,111,863 | |||||||||||||||||||
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 | ||||||||||||||||||||||||
Long Term Debt Including Interest | $ 1,256,857 | ||||||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | CSW Ventures, L.P. [Member] | |||||||||||||||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | ||||||||||||||||||||||||
Debt Instrument, Unamortized Discount, Total | $ 17,225 | ||||||||||||||||||||||||
Debt Conversion, Original Debt, Amount | 170,000 | ||||||||||||||||||||||||
Debt Instrument, Increase (Decrease), Net, Total | (152,775) | ||||||||||||||||||||||||
Short-term Debt, Total | $ 1,330,000 | ||||||||||||||||||||||||
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 | $ 0.04 | $ 0.04 | |||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 3,000,000 | 1,000,000 | 4,000,000 | ||||||||||||||||||||||
Senior Secured Convertible Promissory Note [Member] | The 8% Senior Secured Convertible Promissory Note Dated February 28, 2019 [Member] | Common Stock [Member] | CSW Ventures, L.P. [Member] | |||||||||||||||||||||||||
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.17 | ||||||||||||||||||||||||
Debt Conversion, Converted Instrument, Shares Issued (in shares) | shares | 1,000,000 |
Note 6 - Capital Transactions (
Note 6 - Capital Transactions (Details Textual) - USD ($) | 3 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jul. 18, 2021 | Apr. 01, 2020 | |
Proceeds from Warrant Exercises | $ 62,660 | $ 151,202 | ||
Brokerage Fees for Issuance of Common Stock and Warrants | 6,266 | 0 | ||
Induced Dividend from Warrant Exercises | $ 0 | $ 0 | ||
Warrants Issued to Investors in Private Placements [Member] | ||||
Class of Warrant or Right, Exercises in Period (in shares) | 2,088,667 | |||
Class of Warrant or Right, Exercised During Period, Exercise Price (in dollars per share) | $ 0.03 | |||
Proceeds from Warrant Exercises | $ 56,394 | |||
Brokerage Fees for Issuance of Common Stock and Warrants | 6,266 | |||
Induced Dividend from Warrant Exercises | 163,016 | |||
Class of Warrant or Right, Exercised During Period, Intrinsic Value | 62,660 | |||
Class of Warrant or Right, Issued During Period, Fair Value | $ 100,356 | |||
Exercise of Warrants for Stock, Shares (in shares) | 2,088,667 | |||
Warrants Issued to Investors in Private Placements [Member] | Subsequent Event [Member] | ||||
Class of Warrant or Right, Exercise Price of Warrants or Rights (in dollars per share) | $ 0.10 | |||
Class of Warrant or Right, Number of Securities Called by Each Warrant or Right (in shares) | 1 | |||
Warrants and Rights Outstanding, Term (Year) | 3 years | |||
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 |
Note 7 - Commitments and Cont_2
Note 7 - Commitments and Contingencies (Details Textual) - USD ($) | Dec. 16, 2020 | Sep. 17, 2020 | Jul. 14, 2020 | Apr. 22, 2020 |
Repayment of Iliad Note [Member] | Judicial Ruling [Member] | ||||
Litigation Settlement, Amount Awarded to Other Party | $ 3,264,594 | |||
Litigation Settlement, Payment | $ 3,006,015 | |||
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 |
Note 8 - Related Party Transa_2
Note 8 - Related Party Transactions (Details Textual) | Jun. 30, 2021USD ($) |
Officers and Directors [Member] | |
Due to Related Parties, Total | $ 84,913 |
Note 9 - Sale of Membership I_2
Note 9 - Sale of Membership Interests in Nevada Subsidiaries (Details Textual) - USD ($) | May 11, 2021 | Dec. 29, 2020 | Aug. 10, 2020 | Jul. 24, 2020 | Mar. 24, 2020 | Nov. 27, 2019 | Nov. 15, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Mar. 31, 2021 | Oct. 23, 2017 |
Proceeds from Divestiture of Businesses | $ 200,000 | $ 0 | ||||||||||
Payments for Management Fees | 150,000 | |||||||||||
Management Fees Accrued | 700,000 | $ 700,000 | ||||||||||
The July 24 Note [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 975,000 | |||||||||||
Gain (Loss) on Amendment to Line of Credit | (650,000) | |||||||||||
Teco [Member] | ||||||||||||
Proceeds from Sale and Collection of Notes Receivable, Total | $ 4,000,000 | |||||||||||
Notes Receivable Term (Year) | 3 years | |||||||||||
The 0% Note Payable Dated October 23, 2017 [Member] | Promissory Note [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 0.00% | 0.00% | ||||||||||
AJE Management, LLC [Member] | Secured Debt [Member] | The July 24 Note [Member] | ||||||||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% | |||||||||||
Proceeds from Lines of Credit, Total | 375,000 | |||||||||||
Teco [Member] | ||||||||||||
Sale of Stock, Percentage of Ownership | 100.00% | |||||||||||
Proceeds from Divestiture of Businesses | $ 200,000 | $ 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) | 36 months | |||||||||||
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) | $ (50,000) | ||||||||||
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 | |||||||||
Increase (Decrease) in Notes Receivable, Current | 975,000 | |||||||||||
Gain (Loss) on Amendment to Line of Credit | $ (650,000) | |||||||||||
Teco [Member] | The July 24 Note [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | 4,000,000 | |||||||||||
Teco [Member] | July 24 Note [Member] | ||||||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 4,000,000 | $ 4,000,000 | ||||||||||
Teco [Member] | ||||||||||||
Sale of Stock, Percentage of Ownership | 75.00% | |||||||||||
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 10 - Subsequent Events (De
Note 10 - Subsequent Events (Details Textual) - The 6% Convertible Promissory Note Due July 1, 2022 [Member] - Subsequent Event [Member] | Jul. 02, 2021USD ($)$ / shares |
Debt Instrument, Face Amount | $ | $ 50,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.00% |
Debt Instrument, Convertible, Conversion Price (in dollars per share) | $ / shares | $ 0.05 |