Cannabis Sativa (CBDS) 10-Q 23 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	May 13, 2022
Cover [Abstract]
Entity Registrant Name	Cannabis Sativa, Inc.
Entity Central Index Key	0001360442
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Mar. 31, 2022
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2022
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		32,053,109
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes
Entity File Number	000-53571
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	20-1898270
Entity Address Address Line 1	450 Hillside
Entity Address City Or Town	Mesquite
Entity Address State Or Province	NV
City Area Code	702
Entity Address Address Line 2	Dr. #A224
Entity Address Postal Zip Code	89027
Local Phone Number	762-3123

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Current Assets
Cash	$ 152,601	$ 194,060
Investment in equity securities, at fair value	455,193	208,540
Total Current Assets	607,794	402,600
Other Assets
Property and equipment, net	1,322	1,974
Intangible assets, net	278,521	320,806
Goodwill	1,837,202	1,837,202
Total Assets	2,724,839	2,562,582
Current Liabilities
Accounts payable	125,202	95,031
Accrued interest - related parties	220,037	204,613
Notes payable to related parties	1,239,378	1,218,038
Total Current Liabilities	1,584,617	1,517,682
Long-Term Liabilities
Stock payable	195,675	0
Total Liabilities	1,780,292	1,517,682
Stockholders' Equity (Deficit):
Preferred stock $0.001 par value; 5,000,000 shares authorized; 777,654 issued and outstanding, respectively	778	778
Common stock $0.001 par value; 45,000,000 shares authorized; 30,746,865 shares issued and outstanding, respectively	30,748	30,748
Additional paid-in capital	79,151,240	79,151,240
Accumulated deficit	(79,566,859)	(79,475,968)
Total Cannabis Sativa, Inc. Stockholders' Deficit	(384,093)	(293,202)
Non-Controlling Interest	1,328,640	1,338,102
Total Stockholders' Equity	944,547	1,044,900
Total Liabilities and Stockholders' Equity	$ 2,724,839	$ 2,562,582

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
CONSOLIDATED BALANCE SHEETS
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	5,000,000	5,000,000
Preferred Stock, Shares Issued	777,654	777,654
Preferred Stock, Shares Outstanding	777,654	777,654
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	45,000,000	45,000,000
Common Stock, Shares, Issued	30,746,865	30,746,865
Common Stock, Shares, Outstanding	30,746,865	30,746,865

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CONSOLIDATED STATEMENTS OF OPERATIONS
Revenues	$ 423,701	$ 482,350
Cost of Revenues	158,689	183,503
Gross Profit	265,012	298,847
Operating Expenses
Professional fees	121,906	119,739
Depreciation and amortization	42,353	42,881
Wages and salaries	186,761	149,845
Advertising	16,221	92,635
General and administrative	227,602	366,428
Total Operating Expenses	594,843	771,528
Net Loss from Operations	(329,831)	(472,681)
Other (Income) and Expenses
Unrealized gain on investments	(246,654)	(151,000)
Interest expense	17,176	6,193
Total Other (Income) Expenses, Net	(229,478)	(144,807)
Net Loss Before Income Taxes	(100,353)	(327,874)
Income Taxes	0	0
Net Loss from Continuing Operations	(100,353)	(327,874)
Net Income (Loss) from Discontinued Operations
Operating loss on discontinued operations	0	(162,034)
Interest expense - discontinued operations	0	(2,144)
Net Income (Loss) from Discontinued Operations	0	(164,178)
Net Loss	(100,353)	(492,052)
Loss attributable to non-controlling interest - GKMP	0	(79,495)
Loss attributable to non-controlling interest - iBudTender	0	(970)
Loss attributable to non-controlling interest - PrestoCorp	(9,462)	8,403
Net Loss Attributable To Cannabis Sativa, Inc.	$ (90,891)	$ (419,990)
Net Loss per Common Share: Basic and diluted
From continuing operations		$ (0.01)
From discontinued operations	$ 0	$ (0.01)
Total		$ (2)
Weighted Average Common Shares Outstanding:
Basic & Diluted	30,746,865	27,988,129

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Non Controlling Interest Prestocorp	Non Controlling Interest iBud Tender	Non Controlling Interest GK Manufacturing
Balance, shares at Dec. 31, 2020		1,090,128	27,453,178
Balance, amount at Dec. 31, 2020	$ 1,638,215	$ 1,090	$ 27,455	$ 77,660,014	$ (77,028,339)	$ 1,193,798	$ 47,264	$ (263,067)
Conversion of Preferred to Common, shares		(167,966)	167,966
Conversion of Preferred to Common, amount	0	$ (167)	$ 167	0	0	0	0	0
Cash proceeds from sale of stock, shares		0	10,466
Cash proceeds from sale of stock, amount	5,000	$ 0	$ 10	4,990	0	0	0	0
Shares issued for services, shares		73,530	879,002
Shares issued for services, amount	489,986	$ 73	$ 880	489,033	0	0	0	0
Shares cancelled, shares		0	(55,556)
Shares cancelled, amount	(20,000)	$ 0	$ (57)	(19,943)	0	0	0	0
Net income (loss) for the period	(492,052)	$ 0	$ 0	0	(419,990)	8,403	(970)	(79,495)
Balance, shares at Mar. 31, 2021		995,692	28,455,056
Balance, amount at Mar. 31, 2021	1,621,149	$ 996	$ 28,455	78,134,094	(77,448,329)	1,202,201	46,294	(342,562)
Balance, shares at Dec. 31, 2021		777,654	30,746,865
Balance, amount at Dec. 31, 2021	1,044,900	$ 778	$ 30,748	79,151,240	(79,475,968)	1,338,102	0	0
Net income (loss) for the period	(100,353)	$ 0	$ 0	0	(90,891)	(9,462)	0	0
Balance, shares at Mar. 31, 2022		777,654	30,746,865
Balance, amount at Mar. 31, 2022	$ 944,547	$ 778	$ 30,748	$ 79,151,240	$ (79,566,859)	$ 1,328,640	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the period	$ (100,353)	$ (492,052)
Adjustments to reconcile net loss for the period to net cash provided (used) by operating activities:
Unrealized gain on investment	(246,654)	(151,000)
Depreciation and amortization	42,353	47,582
Cancellation of shares for services	0	(20,000)
Depreciation included in cost of revenues	0	8,929
Shares issued for services	0	489,986
Stock payable for services	195,675	0
Write off of abandoned fixed assets	585	0
Note payable issued for services	15,000	0
Changes in Assets and Liabilities:
Inventories	0	27,050
Prepaid consulting and other current assets	0	(5,933)
Accounts payable and accrued expenses	30,171	18,915
Accrued interest - related parties	15,424	14,851
Customer deposits	0	(25,545)
Net Cash Used in Operating Activities	(47,799)	(87,217)
Cash Flows from Investing Activities:
Net Cash Provided by Investing Activities	0	0
Cash Flows from Financing Activities:
Proceeds from sale of common stock	0	5,000
Proceeds from advances from related parties	0	48,258
Proceeds from related parties notes payable, net	6,340	20,500
Net Cash Provided by Financing Activities	6,340	73,758
NET CHANGE IN CASH	(41,459)	(13,459)
CASH AT BEGINNING OF PERIOD	194,060	322,107
CASH AT END OF PERIOD	$ 152,601	$ 308,648

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Organization and Summary of Significant Accounting Policies
1. Organization and Summary of Significant Accounting Policies	1. Organization and Summary of Significant Accounting Policies Nature of Business: Cannabis Sativa, Inc. (the “Company,” “us”, “we” or “our”) was incorporated as Ultra Sun Corp. under the laws of Nevada in November 2004. On November 13, 2013, we changed our name to Cannabis Sativa, Inc. We operate through several subsidiaries including: · PrestoCorp, Inc. (“PrestoCorp”) · Wild Earth Naturals, Inc. (“Wild Earth”) · Kubby Patent and Licenses Limited Liability Company (“KPAL”) · Hi Brands, International, Inc. (“Hi Brands”) · Eden Holdings LLC (“Eden”). · iBudtender, Inc. (“iBud”) – through April 2021 · GK Manufacturing and Packaging, Inc. (“GKMP”)- through April 2021 PrestoCorp is a 51% owned subsidiary and until April 22, 2021, GKMP and iBud were 51% and 50.1% owned subsidiaries. Wild Earth, KPAL, Hi Brands, and Eden are wholly owned subsidiaries. At December 31, 2021, PrestoCorp is the sole operating subsidiary. Until sale of the Company’s interest in April 2021, GKMP and iBud tender were operating subsidiaries although iBud was not generating any revenue. Our primary operations for the years ended December 31, 2021 and 2020 were through PrestoCorp, which provides telemedicine online referral services for customers desiring medical marijuana cards in states where medical marijuana has been legalized. The Company is actively seeking new business opportunities for acquisition and is continually reviewing opportunities for product and brand development through our Wild Earth, Hi Brands, and KPAL subsidiaries. Basis of Presentation Operating results for the three months ended March 31, 2022 may not be indicative of the results expected for the full year ending December 31, 2022. For further information, refer to the financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The interim financial statements should be read in conjunction with audited financial statements and related footnotes set forth in our annual report filed on Form 10-K for the year ended December 31, 2021, as filed with the United States Securities and Exchange Commission on April 14, 2022. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company’s financial position as of March 31, 2022, and its results of operations, cash flows, and changes in stockholders’ equity for the three months ended March 31, 2022. The financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States (‘GAAP”) for complete financial statements. Principles of Consolidation: The condensed consolidated financial statements include the accounts of Cannabis Sativa, Inc. (the “Company” or “CBDS”), and its wholly-owned subsidiaries and PrestoCorp, a 51% owned subsidiary. On April 22, 2021, we sold our interests in two companies in which the Company had majority control, iBud and GKMP. These condensed consolidated financial statements include operations of iBud and GKMP through April 22, 2021. All significant inter-company balances have been eliminated in consolidation. Going Concern: Net Loss per Share: Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding for the period and contains no dilutive securities. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Potentially dilutive shares are excluded from the calculation of diluted net loss per share because the effect is anti-dilutive. For the three months ended March 31, 2022 and 2021, the Company had 175,000 and 175,000 outstanding warrants, respectively, and 777,654 and 995,692 shares of convertible preferred stock, respectively, that would be dilutive to future periods net income if converted. Recent Accounting Pronouncement: Accounting Standards Updates Adopted In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12 Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The update is to address issues identified as a result of the complexity associated with applying generally accepted accounting principles for certain financial instruments with characteristics of liabilities and equity. The update is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years and with early adoption permitted. Adoption of this update had no impact on the Company’s consolidated financial statements. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

Intangibles and Goodwill

Intangibles and Goodwill	3 Months Ended
	Mar. 31, 2022
Intangibles and Goodwill
2. Intangibles and Goodwill	2. Intangibles and Goodwill The Company considers all intangibles to be definite-lived assets with lives of 5 to 10 years. Intangibles consisted of the following at March 31, 2022 and December 31, 2021: March 31, 2022 December 31, 2021 CBDS.com website (Cannabis Sativa) $ 13,999 $ 13,999 Intellectual Property Rights (PrestoCorp) 240,000 240,000 Patents and Trademarks (KPAL) 1,281,411 1,281,411 Total Intangibles 1,535,410 1,535,410 Less: Accumulated Amortization (1,256,889 ) (1,214,604 ) Net Intangible Assets $ 278,521 $ 320,806 Amortization expense for each of the three months ended March 31, 2022 and 2021 was $42,285, respectively. Amortization of intangibles through 2027 is: April 1, 2022 to March 31, 2023 $ 157,501 April 1, 2023 to March 31, 2024 116,118 April 1, 2024 to March 31, 2025 932 April 1, 2025 to March 31, 2026 932 April 1, 2026 to March 31, 2027 932

Sale of Majority Owned Subsidia

Sale of Majority Owned Subsidiaries and Discontinued Operations	3 Months Ended
	Mar. 31, 2022
Sale of Majority Owned Subsidiaries and Discontinued Operations
3. Sale of Majority Owned Subsidiaries and Discontinued Operations	3. Sale of Majority Owned Subsidiaries and Discontinued Operations On April 22, 2021, the Company sold its majority interests in GKMP (51%) and iBud (50.1%) to THC Farmaceuticals, Inc. (“CBDG”). In consideration of the transaction, the Company received 1,500,000 shares of CBDG common stock and 1,500,000 shares of CBDG preferred stock. The Company’s Chief Executive Officer and Chairman of the Board, David Tobias is a Director of CBDG. Shares of CBDG common stock are traded on the OTC Pink Sheets Market. The sale of the Company’s majority interests was undertaken to allow the Company to focus on its other operating subsidiary, PrestoCorp, to focus on capital formation for expansion of PrestoCorp, and to pursue other opportunities. At the time of the sale, iBud was inactive and GKMP had not yet achieved positive cash flow from operations. On the closing date of the sale, CBDG common shares closed at $0.20 per share, for a fair value of $300,000. The CBDG preferred stock received is convertible into CBDG common stock on a one for one basis and has no other rights or preferences that distinguish it from the common stock and are convertible at any time by the Company. Management determined that the shares of preferred stock received are equivalent to CBDG’s common stock and valued the preferred shares at the same rate. In the aggregate, the total shares of CBDG stock received were valued at $600,000 on the date of the sale. During the year ended December 31, 2021, the Company recognized a gain on sale of subsidiaries of $164,736 which represented the value of the consideration received consisting of the value of CBDG’s shares plus the carrying value of the subsidiaries’ non-controlling interest reduced by the net asset of each subsidiary: Consideration received: Common stock of CBDG, fair value $ 300,000 Preferred stock of CBDG, fair value 300,000 Total consideration 600,000 Non-controlling interests (331,884 ) Net assets of subsidiaries on date of disposition: GKMP 112,350 iBud (8,970 ) Net assets 103,380 Gain on sale of subsidiaries $ 164,736 As a result of the sale, the Company has discontinued its operations for both subsidiaries. Summaries of the discontinued operations of GKMP and iBud for the period January 1, 2021 to March 31, 2021 are provided below. January 1 to Discontinued Operations March 31, 2021 REVENUE $ 74,973 Cost of revenues 81,511 Cost of sales % of total sales 109 % Gross profit (6,538 ) Gross profit % of sales -9 % EXPENSES Professional fees - Depreciation and amortization 4,700 Wages and salaries 58,617 Advertising 998 General and administrative 91,181 Interest expense 2,144 Total expenses 157,640 NET LOSS FROM DISCONTINUED OPERATIONS $ (164,178 ) GKMP and iBud generated losses from operations during the periods they were operated by the Company. The sale of our interests in GKMP and iBud was to allow management to devote more resources to PrestoCorp.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2022
Related Party Transactions
4. Related Party Transactions	4. Related Party Transactions In addition to items disclosed in Notes 3 and 6, the Company had additional related party transactions during the three months ended March 31, 2022 and 2021. The Company has received funds from borrowings on notes payable and advances from related parties and officers of the Company to cover operating expenses. Related parties include the officers and directors of the Company and a significant shareholder holding in excess of 10% of the Company’s outstanding shares. During the three months ended March 31, 2022, David Tobias loaned $6,340 cash to the Company for notes payable bearing interest at the rate of 5% per annum due on December 31, 2022. In the three months ended March 31, 2022, the Company and Cathy Carroll, director, entered into a non-cash note payable for $15,000 for compensation due her for services. Ms. Carroll’s note bears interest at 5% per annum and is due December 31, 2022. During the three months ended March 31, 2022 and 2021, the Company recorded interest expense related to notes payable to related parties at the rates between 5% and 8% per annum in the amounts of $17,176 and $8,337, respectively. The following tables reflect the related party advance and note payable balances. Notes payable to related parties Accrued interest -related parties March 31, 2022 David Tobias, CEO & Director $ 992,878 $ 181,539 New Compendium, greater than 10% Shareholder 152,500 29,593 Cathy Carroll, Director 90,000 8,055 Other Affiliates 4,000 850 Totals $ 1,239,378 $ 220,037 Notes payable to related parties Accrued interest -related parties December 31, 2021 David Tobias, CEO & Director $ 986,538 $ 169,057 New Compendium, greater than 10% Shareholder 152,500 27,688 Cathy Carroll, Director 75,000 7,068 Other Affiliates 4,000 800 Totals $ 1,218,038 $ 204,613 In the three months ended March 31, 2022 and 2021, the Company incurred approximately $14,000 and $28,000, respectively, for consulting services from a nephew of the Company’s president. The current period services were accrued at March 31, 2022 and paid in April 2022. The services for the period ended March 31, 2021 were paid in shares of the Company’s common stock. These amounts are included in the statements of operations in general and administrative expenses.

Investments

Investments	3 Months Ended
	Mar. 31, 2022
Investments
5. Investments	5. Investments At March 31, 2022 and December 31, 2021, the Company owns 8,238,769 shares respectively, of common stock of Medical Cannabis Payment Solutions (ticker: REFG). At March 31, 2022 and December 31, 2021, the fair value of the investment in REFG was $41,193 and $25,540, respectively. The Company recognized a gain on the change in fair value of $15,654 and $151,000 during the three months ended March 31, 2022 and 2021, respectively. The Company’s investment in CBDG represents 15% of CBDG’s voting shares on a fully diluted basis which, coupled with Mr. Tobias’ position as a director and his individual investment in CBDG, results in the Company having significant influence over CBDG. The Company elected to account for its investment in CBDG at fair value because the Company does not intend to hold the investment for a long period of time and the shares are readily marketable. The fair value of the Company’s investment at March 31, 2022 and December 31, 2021 was $414,000 and $183,000 resulting in a gain of $231,000 and $-0- for the change in fair value during the three months ended March 31, 2022 and 2021, respectively.

Stockholders Equity

Stockholders Equity	3 Months Ended
	Mar. 31, 2022
Stockholders Equity
6. Stockholders' Equity	6. Stockholders’ Equity Securities Issuances During the three months ended March 31, 2022, no common or preferred shares were issued by the Company. At March 31, 2022, the Company owed independent contractors for services payable in stock and recorded as stock payable as follows: Stock Payable March 31, 2022 Services Common Preferred Value Related Parties David Tobias, Officer, Director - 250,000 $ 50,000 Brad Herr, Officer, Director 250,000 - 50,000 Robert Tankson, Director 15,625 - 3,125 Trevor Reed, Director 15,625 - 3,125 Total related party issuances 281,250 250,000 $ 106,250 Non-related party issuances 446,288 - $ 89,425 Total shares for services 727,538 250,000 $ 195,675 During the three months ended March 31, 2021, shares of common stock and preferred stock were issued to related and non-related parties for the purposes indicated, as follows: Share Issuances Services Common Preferred Value Related Party issuances David Tobias, Officer, Director - 73,530 $ 37,500 Brad Herr, Officer, Director 122,550 - 62,500 Robert Tankson, Director 54,203 - 28,482 Cathy Carroll, Director 73,530 - 37,500 Trevor Reed, Director 12,255 - 6,250 Keith Hyatt, President GKMP 35,404 - 18,056 Kyle Powers, CEO PrestoCorp 167,790 - 88,929 Total related party issuances 465,732 73,530 279,217 Non-related party issuances 413,270 - 210,769 Total shares for services 879,002 73,530 489,986 Issuance for cash 10,466 - 5,000 Preferred stock converted to common 167,966 (167,966 ) - Shares cancelled (55,556 ) - (20,000 ) Aggregate totals 1,001,878 (94,436 ) $ 474,986 During the three months ended March 31, 2021, the Company cancelled shares that had been returned after it was determined the shares have been erroneously issued to a vendor in 2020. During the three months ended March 31, 2021, David Tobias, Chief Executive Officer and Director, converted 167,966 shares of preferred stock into an equal number of common stock in accordance with the terms of the preferred stock.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2022
Commitments and Contingencies
7. Commitments and Contingencies	7. Commitments and Contingencies Leases. PrestoCorp leases office space through WeWork in New York on a month-to-month arrangement. Rent expense for the three months ended March 31, 2022 and 2021 was $18,723 and $4,888, respectively. On April 12, 2022, PrestoCorp signed a new lease in New York for a two year term at $2,590 per month expiring in April 2024. Litigation. In the ordinary course of business, we may face various claims brought by third parties and we may, from time to time, make claims or take legal actions to assert our rights, including intellectual property disputes, contractual disputes and other commercial disputes. Any of these claims could subject us to litigation. As of March 31, 2022, no claims are outstanding.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events
8.Subsequent Events	8. Subsequent Events In April 2022, the Company issued 727,538 shares of common stock and 250,000 shares of preferred stock to officers, directors and independent contractors in payment of compensation accrued in the quarter ended March 31, 2022. The shares of common and preferred stock were valued in the aggregate at $195,675. An additional 578,704 shares of common stock and 209,333 shares of preferred stock valued in the aggregate at $188,889 were issued in April 2022 to officers, directors and independent contractors for services provided in the second quarter. On May 11, 2022, the Company announced a non-binding letter of intent to merge with MJ Harvest, Inc., a publicly traded Nevada corporation (“MJHI”). The companies are continuing discussions relating to structure and timing of the merger. David Tobias, CEO and Director of the Company is also a Director of MJHI. Brad Herr, CFO and Director of the Company is also CFO of MJHI.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
Organization and Summary of Significant Accounting Policies (Policies)
Nature of Business	Cannabis Sativa, Inc. (the “Company,” “us”, “we” or “our”) was incorporated as Ultra Sun Corp. under the laws of Nevada in November 2004. On November 13, 2013, we changed our name to Cannabis Sativa, Inc. We operate through several subsidiaries including: · PrestoCorp, Inc. (“PrestoCorp”) · Wild Earth Naturals, Inc. (“Wild Earth”) · Kubby Patent and Licenses Limited Liability Company (“KPAL”) · Hi Brands, International, Inc. (“Hi Brands”) · Eden Holdings LLC (“Eden”). · iBudtender, Inc. (“iBud”) – through April 2021 · GK Manufacturing and Packaging, Inc. (“GKMP”)- through April 2021 PrestoCorp is a 51% owned subsidiary and until April 22, 2021, GKMP and iBud were 51% and 50.1% owned subsidiaries. Wild Earth, KPAL, Hi Brands, and Eden are wholly owned subsidiaries. At December 31, 2021, PrestoCorp is the sole operating subsidiary. Until sale of the Company’s interest in April 2021, GKMP and iBud tender were operating subsidiaries although iBud was not generating any revenue. Our primary operations for the years ended December 31, 2021 and 2020 were through PrestoCorp, which provides telemedicine online referral services for customers desiring medical marijuana cards in states where medical marijuana has been legalized. The Company is actively seeking new business opportunities for acquisition and is continually reviewing opportunities for product and brand development through our Wild Earth, Hi Brands, and KPAL subsidiaries.
Basis of Presentation	Operating results for the three months ended March 31, 2022 may not be indicative of the results expected for the full year ending December 31, 2022. For further information, refer to the financial statements and notes thereto in our Annual Report on Form 10-K for the fiscal year ended December 31, 2021. The interim financial statements should be read in conjunction with audited financial statements and related footnotes set forth in our annual report filed on Form 10-K for the year ended December 31, 2021, as filed with the United States Securities and Exchange Commission on April 14, 2022. In the opinion of management, the accompanying unaudited condensed consolidated financial statements contain all adjustments, consisting of only normal recurring adjustments, necessary for a fair statement of the Company’s financial position as of March 31, 2022, and its results of operations, cash flows, and changes in stockholders’ equity for the three months ended March 31, 2022. The financial statements do not include all of the information and notes required by accounting principles generally accepted in the United States (‘GAAP”) for complete financial statements.
Principles of Consolidation	The condensed consolidated financial statements include the accounts of Cannabis Sativa, Inc. (the “Company” or “CBDS”), and its wholly-owned subsidiaries and PrestoCorp, a 51% owned subsidiary. On April 22, 2021, we sold our interests in two companies in which the Company had majority control, iBud and GKMP. These condensed consolidated financial statements include operations of iBud and GKMP through April 22, 2021. All significant inter-company balances have been eliminated in consolidation.
Going Concern	The Company has an accumulated deficit of $79,566,859 and negative working capital of $976,823 at March 31, 2022, which, among other factors, raises substantial doubt about the Company’s ability to continue as a going concern. The ability of the Company to continue as a going concern is dependent on the Company’s ability to generate profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they are due.
Net Loss per Share	Basic net loss per share is computed by dividing net loss available to common shareholders by the weighted average number of common shares outstanding for the period and contains no dilutive securities. Diluted earnings per share reflect the potential dilution of securities that could share in the earnings of the Company. Potentially dilutive shares are excluded from the calculation of diluted net loss per share because the effect is anti-dilutive. For the three months ended March 31, 2022 and 2021, the Company had 175,000 and 175,000 outstanding warrants, respectively, and 777,654 and 995,692 shares of convertible preferred stock, respectively, that would be dilutive to future periods net income if converted.
Recent Accounting Pronouncement	Accounting Standards Updates Adopted In August 2020, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2019-12 Debt with Conversion and Other Options (Subtopic 470-20) and Derivatives and Hedging—Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible Instruments and Contracts in an Entity’s Own Equity. The update is to address issues identified as a result of the complexity associated with applying generally accepted accounting principles for certain financial instruments with characteristics of liabilities and equity. The update is effective for fiscal years beginning after December 15, 2021, including interim periods within those fiscal years and with early adoption permitted. Adoption of this update had no impact on the Company’s consolidated financial statements. Other accounting standards that have been issued or proposed by FASB that do not require adoption until a future date are not expected to have a material impact on the financial statements upon adoption.

Intangibles and Goodwill (Table

Intangibles and Goodwill (Tables)	3 Months Ended
	Mar. 31, 2022
Intangibles and Goodwill (Tables)
Schedule of Intangible Assets and Goodwill	March 31, 2022 December 31, 2021 CBDS.com website (Cannabis Sativa) $ 13,999 $ 13,999 Intellectual Property Rights (PrestoCorp) 240,000 240,000 Patents and Trademarks (KPAL) 1,281,411 1,281,411 Total Intangibles 1,535,410 1,535,410 Less: Accumulated Amortization (1,256,889 ) (1,214,604 ) Net Intangible Assets $ 278,521 $ 320,806
Schedule of Amortization	April 1, 2022 to March 31, 2023 $ 157,501 April 1, 2023 to March 31, 2024 116,118 April 1, 2024 to March 31, 2025 932 April 1, 2025 to March 31, 2026 932 April 1, 2026 to March 31, 2027 932

Sale of Majority Owned Subsid_2

Sale of Majority Owned Subsidiaries and Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2022
Sale of Majority Owned Subsidiaries and Discontinued Operations
Summary of value of the consideration received	Consideration received: Common stock of CBDG, fair value $ 300,000 Preferred stock of CBDG, fair value 300,000 Total consideration 600,000 Non-controlling interests (331,884 ) Net assets of subsidiaries on date of disposition: GKMP 112,350 iBud (8,970 ) Net assets 103,380 Gain on sale of subsidiaries $ 164,736
Summary of the discontinued operations of GKMP and iBud	January 1 to Discontinued Operations March 31, 2021 REVENUE $ 74,973 Cost of revenues 81,511 Cost of sales % of total sales 109 % Gross profit (6,538 ) Gross profit % of sales -9 % EXPENSES Professional fees - Depreciation and amortization 4,700 Wages and salaries 58,617 Advertising 998 General and administrative 91,181 Interest expense 2,144 Total expenses 157,640 NET LOSS FROM DISCONTINUED OPERATIONS $ (164,178 )

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions (Tables)
Schedule of related party advance and note payable	Notes payable to related parties Accrued interest -related parties March 31, 2022 David Tobias, CEO & Director $ 992,878 $ 181,539 New Compendium, greater than 10% Shareholder 152,500 29,593 Cathy Carroll, Director 90,000 8,055 Other Affiliates 4,000 850 Totals $ 1,239,378 $ 220,037 Notes payable to related parties Accrued interest -related parties December 31, 2021 David Tobias, CEO & Director $ 986,538 $ 169,057 New Compendium, greater than 10% Shareholder 152,500 27,688 Cathy Carroll, Director 75,000 7,068 Other Affiliates 4,000 800 Totals $ 1,218,038 $ 204,613

Stockholders Equity (Tables)

Stockholders Equity (Tables)	3 Months Ended
	Mar. 31, 2022
Related Party Transactions (Tables)
Common Stock and Preferred stock issued to related and Non Related Parties	Stock Payable March 31, 2022 Services Common Preferred Value Related Parties David Tobias, Officer, Director - 250,000 $ 50,000 Brad Herr, Officer, Director 250,000 - 50,000 Robert Tankson, Director 15,625 - 3,125 Trevor Reed, Director 15,625 - 3,125 Total related party issuances 281,250 250,000 $ 106,250 Non-related party issuances 446,288 - $ 89,425 Total shares for services 727,538 250,000 $ 195,675 Share Issuances Services Common Preferred Value Related Party issuances David Tobias, Officer, Director - 73,530 $ 37,500 Brad Herr, Officer, Director 122,550 - 62,500 Robert Tankson, Director 54,203 - 28,482 Cathy Carroll, Director 73,530 - 37,500 Trevor Reed, Director 12,255 - 6,250 Keith Hyatt, President GKMP 35,404 - 18,056 Kyle Powers, CEO PrestoCorp 167,790 - 88,929 Total related party issuances 465,732 73,530 279,217 Non-related party issuances 413,270 - 210,769 Total shares for services 879,002 73,530 489,986 Issuance for cash 10,466 - 5,000 Preferred stock converted to common 167,966 (167,966 ) - Shares cancelled (55,556 ) - (20,000 ) Aggregate totals 1,001,878 (94,436 ) $ 474,986

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accumulated deficit	$ 79,566,859		$ 79,475,968
Working capital	$ (976,823)
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	175,000	175,000
Convertible Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	777,654	995,692
GK Manufacturing Inc
Equity Method Investment, Ownership Percentage	51.00%		51.00%
IBud [Member]
Equity Method Investment, Ownership Percentage	50.10%		50.10%
David Tobias [Member]
Equity Method Investment, Ownership Percentage			51.00%

Intangibles and Goodwill (Detai

Intangibles and Goodwill (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Less: Accumulated Amortization	$ 1,256,889	$ (1,214,604)
Finite-Lived Intangible Assets, Net	278,521	320,806
Finite-Lived Intangible Assets, Gross	1,535,410	1,535,410
Cannabis Sativa [Member] | Internet Domain Names [Member]
Finite-Lived Intangible Assets, Gross	13,999	13,999
Prestocorp [Member] | Intellectual Property [Member]
Finite-Lived Intangible Assets, Gross	240,000	240,000
K P A L [Member] | Patents And Trademarks [Member]
Finite-Lived Intangible Assets, Gross	$ 1,281,411	$ 1,281,411

Intangibles and Goodwill (Det_2

Intangibles and Goodwill (Details 1)	Mar. 31, 2022USD ($)
Intangibles and Goodwill
2023	$ 157,501
2024	116,118
2025	932
2026	932
2027	$ 932

Intangibles and Goodwill (Det_3

Intangibles and Goodwill (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021	Dec. 31, 2020
Amortization of Intangible Assets	$ 42,285	$ 42,225
Goodwill	1,837,202		$ 1,837,202
Prestocorp [Member] | August 1, 2017 [Member]
Impairment of goodwill	$ 3,010,202
Cumulative impairment of goodwill			$ 1,173,000	$ 1,173,000
Minimum [Member]
Finite-Lived Intangible Asset, Useful Life	5 years
Maximum [Member]
Finite-Lived Intangible Asset, Useful Life	10 years

Sale of Majority Owned Subsid_3

Sale of Majority Owned Subsidiaries (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 22, 2021	Mar. 31, 2022	Dec. 31, 2021
Non-controlling interests		$ (331,884)
Net assets		103,380
Gain on sale of subsidiaries		$ 164,736	$ 164,736
Total consideration		600,000	0
GK Manufacturing Inc
Net assets		$ 112,350
IBud [Member]
Net assets		$ (8,970)
Common Stock [Member]
Total consideration	1,500,000	300,000
Total consideration	$ 300,000	$ 300,000
Preferred Stock [Member]
Total consideration	1,500,000
Total consideration		$ 300,000

Sale of Majority Owned Subsid_4

Sale of Majority Owned Subsidiaries (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
REVENUE	$ 423,701	$ 482,350
Cost of revenues	158,689	183,503
Gross profit	265,012	298,847
Depreciation and amortization	42,353	42,881
Wages and salaries	186,761	149,845
Advertising	16,221	92,635
General and administrative	227,602	366,428
Total operating expenses	594,843	771,528
Interest expense	17,176	6,193
NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS	$ 0	(164,178)
GKMP and iBud [Member]
REVENUE		74,973
Cost of revenues		$ 81,511
Cost of sales % of total sales		109.00%
Gross profit		$ (6,538)
Gross profit % of sales		9.00%
Depreciation and amortization		$ 4,700
Wages and salaries		58,617
Advertising		998
General and administrative		91,181
Total operating expenses		157,640
Interest expense		2,144
NET INCOME (LOSS) FROM DISCONTINUED OPERATIONS		$ (164,178)

Sale of Majority Owned Subsid_5

Sale of Majority Owned Subsidiaries (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Apr. 22, 2021	Mar. 31, 2022	Dec. 31, 2021
Gain on sale of subsidiaries		$ 164,736	$ 164,736
Sale of transaction		600,000	0
GK Manufacturing Inc
Equity Method Investment, Ownership Percentage		51.00%	51.00%
IBud [Member]
Equity Method Investment, Ownership Percentage		50.10%	50.10%
Common Stock [Member]
Sale of transaction	1,500,000	300,000
Sale of stock value	$ 300,000	$ 300,000
Share Price	$ 0.20
Preferred Stock [Member]
Sale of transaction	1,500,000
Sale of stock value		$ 300,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 31, 2022	Dec. 31, 2021
Notes Payable to Related Parties	$ 1,239,378	$ 1,218,038
Accrued interest - related parties	220,037	204,613
David Tobias, CEO & Director [Member]
Notes Payable to Related Parties	992,878	986,538
Accrued interest - related parties	181,539	169,057
New Compendium Affiliate [Member]
Notes Payable to Related Parties	152,500	152,500
Accrued interest - related parties	29,593	27,688
Cathy Carroll, Director
Notes Payable to Related Parties	90,000	75,000
Accrued interest - related parties	8,055	7,068
Other Affiliates [Member]
Notes Payable to Related Parties	4,000	4,000
Accrued interest - related parties	$ 850	$ 800

Related Party Transactions (D_2

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Interest Expense	$ 17,176	$ 8,337
Principal Amount	6,340
Advances from and payables to related parties	$ 48,083
Due Date	Dec. 31, 2022
Interest rate	5.00%
Cathy Carroll, Director
Principal Amount	$ 15,000
Due Date	Dec. 31, 2022
Interest rate	5.00%
G K M P [Member]
Advances from and payables to related parties	$ 67,058
David Tobias [Member]
Due Date	Dec. 31, 2021
Interest rate	5.00%
Consultant [Member]
Other General and Administrative Expense	$ 14,000	$ 28,000
Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	5.00%
Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage	8.00%

Investments (Details Narrative)

Investments (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Stock Issued During Period, Shares, Purchase of Assets	8,238,769		8,238,769
Recognized unrealized gains (losses) on investment	$ 15,654	$ 151,000
Share price			$ 0.20
Proceeds from sales of equity	0	5,000
Unrealized gain on investment	$ (246,654)	(151,000)
C B D G [Member]
Stock Issued During Period, Shares, Purchase of Assets	1,500,000		1,500,000
Proceeds from sales of equity			$ 600,000
Percentage of voting share held by director			15.00%
Fair value of investment	$ 414,000		$ 183,000
Unrealized gain on investment	231,000	$ 0
R E F G [Member]
Fair value of investment	$ 41,193		$ 25,540

Stockholders Equity (Details)

Stockholders Equity (Details) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Total shares for stock payable, Related Party	$ 195,675	$ 489,986
Preferred Stock [Member]
Total shares for stock payable Related Party share	250,000	73,530
Preferred Stock [Member] | Total shares for services [Member]
Stock issued for services, share		310,171
Common Stock [Member]
Total shares for stock payable Related Party share		465,732
Common Stock [Member] | Total shares for services [Member]
Stock issued for services, share	727,538	879,002
David Tobias, Officer, Director
Stock issued for services, value	$ 50,000	$ 37,500
David Tobias, Officer, Director | Preferred Stock [Member]
Stock issued for services, share	250,000	73,530
David Tobias, Officer, Director | Common Stock [Member]
Stock issued for services, share	0	0
Brad Herr, Officer, Director
Stock issued for services, value	$ 50,000	$ 62,500
Brad Herr, Officer, Director | Preferred Stock [Member]
Stock issued for services, share	0	0
Brad Herr, Officer, Director | Common Stock [Member]
Stock issued for services, share	250,000	122,550
Robert Tankson, Director
Stock issued for services, value	$ 3,125	$ 28,482
Robert Tankson, Director | Preferred Stock [Member]
Stock issued for services, share	0	0
Robert Tankson, Director | Common Stock [Member]
Stock issued for services, share	15,625	54,203
Trevor Reed, Director
Stock issued for services, value	$ 3,125	$ 6,250
Trevor Reed, Director | Preferred Stock [Member]
Stock issued for services, share	0	0
Trevor Reed, Director | Common Stock [Member]
Stock issued for services, share	15,625	12,255
Total Related Party Issuances
Stock issued for services, value	$ 106,250	$ 279,217
Total Related Party Issuances | Preferred Stock [Member]
Stock issued for services, share	250,000	73,530
Total Related Party Issuances | Common Stock [Member]
Stock issued for services, share	281,250	465,732
Non-Related Party Issuances
Stock issued for services, value	$ 89,425	$ 210,769
Non-Related Party Issuances | Preferred Stock [Member]
Stock issued for services, share	0	0
Non-Related Party Issuances | Common Stock [Member]
Stock issued for services, share	446,288	413,270

Stockholders Equity (Details 1)

Stockholders Equity (Details 1) - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Issuance for cash, value		$ 5,000
Issuance for acquisitions, value		210,769
Total shares for stock payable, Related Party	$ 195,675	489,986
Total shares for stock payable, Non Related Party		210,769
Shares cancelled, value		(20,000)
Aggregate totals, value		$ 474,986
Conversion of stock, share issued		0
Common Stock [Member]
Conversion of stock, share issued		167,966
Issuance for cash, share		10,466
Total shares for stock payable Related Party share		465,732
Total shares for stock payable Non Related Party share		413,270
Shares cancelled, share		55,556
Aggregate totals, shares		1,001,878
Common Stock [Member] | Total shares for services [Member]
Stock issued for services, share	727,538	879,002
Preferred Stock [Member]
Issuance for cash, share		0
Total shares for stock payable share		0
Total shares for stock payable Related Party share	250,000	73,530
Total shares for stock payable Non Related Party share		0
Shares cancelled, share		0
Aggregate totals, shares		94,436
Conversion of stock, shares converted		(167,966)
Preferred Stock [Member] | Total shares for services [Member]
Stock issued for services, share		310,171
Cathy Carroll, Director
Stock issued for services, value		$ 37,500
Cathy Carroll, Director | Common Stock [Member]
Stock issued for services, share		73,530
Cathy Carroll, Director | Preferred Stock [Member]
Stock issued for services, share		0
David Tobias, Officer, Director
Stock issued for services, value	$ 50,000	$ 37,500
David Tobias, Officer, Director | Common Stock [Member]
Stock issued for services, share	0	0
David Tobias, Officer, Director | Preferred Stock [Member]
Stock issued for services, share	250,000	73,530
Brad Herr, Officer, Director
Stock issued for services, value	$ 50,000	$ 62,500
Brad Herr, Officer, Director | Common Stock [Member]
Stock issued for services, share	250,000	122,550
Brad Herr, Officer, Director | Preferred Stock [Member]
Stock issued for services, share	0	0
Robert Tankson, Director
Stock issued for services, value	$ 3,125	$ 28,482
Robert Tankson, Director | Common Stock [Member]
Stock issued for services, share	15,625	54,203
Robert Tankson, Director | Preferred Stock [Member]
Stock issued for services, share	0	0
Trevor Reed, Director
Stock issued for services, value	$ 3,125	$ 6,250
Trevor Reed, Director | Common Stock [Member]
Stock issued for services, share	15,625	12,255
Trevor Reed, Director | Preferred Stock [Member]
Stock issued for services, share	0	0
Total Related Party Issuances
Stock issued for services, value	$ 106,250	$ 279,217
Total Related Party Issuances | Common Stock [Member]
Stock issued for services, share	281,250	465,732
Total Related Party Issuances | Preferred Stock [Member]
Stock issued for services, share	250,000	73,530
Non-Related Party Issuances
Stock issued for services, value	$ 89,425	$ 210,769
Non-Related Party Issuances | Common Stock [Member]
Stock issued for services, share	446,288	413,270
Non-Related Party Issuances | Preferred Stock [Member]
Stock issued for services, share	0	0
Keith Hyatt, President
Stock issued for services, value		$ 18,056
Keith Hyatt, President | Common Stock [Member]
Stock issued for services, share		35,404
Keith Hyatt, President | Preferred Stock [Member]
Stock issued for services, share		0
Kyle Powers, CEO
Stock issued for services, value		$ 88,929
Kyle Powers, CEO | Common Stock [Member]
Stock issued for services, share		167,790
Kyle Powers, CEO | Preferred Stock [Member]
Stock issued for services, share		0
Conversion
Conversion of stock, shares converted Value		$ 0

Stockholders Equity (Details Na

Stockholders Equity (Details Narrative)	3 Months Ended
	Mar. 31, 2021shares
Chief Executive Officer and Director [Member] | Common Stock [Member]
Conversion of stock, shares converted	(167,966)

Commitments and Contingencies (

Commitments and Contingencies (Details Narrative) - Prestocorp [Member] - New York office Facilities - USD ($)	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Leases, Rent Expense	$ 18,723	$ 4,888
Description of lease	two year term at $2,590 per month expiring in April 2024
Debt Instrument, Periodic Payment	$ 2,590

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2022	Dec. 31, 2021
Preferred Shares issued, value	$ 778	$ 778
Common Shares issued, value	$ 30,748	$ 30,748
Number of common stock issued	30,746,865	30,746,865
Number of Preferred stock issued	777,654	777,654
Chief Executive Officer [Member] | April 2022 [Member]
Shares issued for services, shares	209,333
Shares issued for services, value	$ 188,889
Additional shares	578,704
Preferred Shares issued, value	$ 195,675
Common Shares issued, value	$ 195,675
Number of common stock issued	727,538
Number of Preferred stock issued	250,000