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 |