Cannabis Sativa (CBDS) 10-Q 14 Jun 23 2023 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2023	Jun. 13, 2023
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, 2023
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		49,329,540
Document Quarterly Report	true
Document Transition Report	false
Entity File Number	000-53571
Entity Incorporation State Country Code	NV
Entity Tax Identification Number	20-1898270
Entity Interactive Data Current	Yes
Entity Address Address Line 1	450 Hillside
Entity Address Address Line 2	Dr. #A224
Entity Address City Or Town	Mesquite
Entity Address State Or Province	NV
Entity Address Postal Zip Code	89027
City Area Code	702
Local Phone Number	762-3123

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Current Assets
Cash	$ 102,399	$ 97,445
Investment in equity securities, at fair value	3,600	379,858
Total Current Assets	105,999	477,303
Advances to related party	75,054	55,666
Right of use asset	32,050	38,968
Property and equipment, net	2,640	2,709
Intangible assets, net	121,022	158,943
Goodwill	1,837,202	1,837,202
Total Assets	2,173,967	2,570,791
Current Liabilities
Accounts payable and accrued expenses	128,483	164,411
Operating lease liability, current	29,460	28,736
Accrued interest - related parties	16,424	16,374
Convertible notes payable	250,762	168,500
Notes payable to related parties	117,761	91,700
Total Current Liabilities	542,890	469,721
Long-term liabilities
Operating lease liability, long term	2,590	10,232
Stock payable	430,269	418,156
Total Liabilities	975,749	898,109
Stockholders' Equity:
Preferred stock $0.001 par value; 5,000,000 shares authorized; -0- and 777,654 issued and outstanding, respectively	0	0
Common stock $0.001 par value; 495,000,000 shares authorized; 45,886,878 and 45,566,363 shares issued and outstanding, respectively	45,888	45,567
Additional paid-in capital	80,964,934	80,939,618
Accumulated deficit	(81,125,991)	(80,603,069)
Total Cannabis Sativa, Inc. Stockholders' Equity (Deficit)	(115,169)	382,116
Non-Controlling Interest	1,313,387	1,290,566
Total Stockholders' Equity	1,198,218	1,672,682
Total Liabilities and Stockholders' Equity	$ 2,173,967	$ 2,570,791

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
CONDENSED 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	0	777,654
Preferred Stock, Shares Outstanding	0	777,654
Common Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Common Stock, Shares Authorized	495,000,000	495,000,000
Common Stock, Shares, Issued	45,886,878	45,566,363
Common Stock, Shares, Outstanding	45,886,878	45,566,363

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED
Revenues	$ 345,368	$ 423,701
Cost of Revenues	105,401	158,689
Gross Profit	239,967	265,012
Operating Expenses
Professional fees	53,141	121,906
Depreciation and amortization	37,989	42,353
Wages and salaries	115,103	186,761
Advertising	2,846	16,221
General and administrative	143,249	227,602
Total Operating Expenses	352,328	594,843
Loss from Operations	(112,361)	(329,831)
Other (Income) and Expenses
Unrealized (gain) loss on investment	211,483	(246,654)
Loss on debt settlement	10,641	0
Loss on sale of investment securities	(155,735)	0
Interest expense	9,881	17,176
Total Other (Income) Expenses, Net	387,740	(229,478)
Loss Before Income Taxes	(500,101)	(100,353)
Income Taxes	0	0
Net Loss for the Period	(500,101)	(100,353)
Income (loss) attributable to non-controlling interest - PrestoCorp	22,821	(9,462)
Net Loss for the Period Attributable To Cannabis Sativa, Inc.	$ (522,922)	$ (90,891)
Net Loss for the Period per Common Share: Basic & Diluted	$ (0.01)	$ 0
Weighted Average Common Shares Outstanding: Basic & Diluted	45,669,639	30,746,865

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS EQUITY - USD ($)	Total	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Non Controlling Interest Prestocorp
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
Net loss for period	(100,353)	$ 0	$ 0	0	(90,891)	(9,462)
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
Balance, shares at Dec. 31, 2022			45,566,363
Balance, amount at Dec. 31, 2022	1,672,682	0	$ 45,567	80,939,618	(80,603,069)	1,290,566
Net loss for period	(500,101)	0	$ 0	0	(522,922)	22,821
Common Stock Issued - Note Payable Conversion, shares			320,513
Common Stock Issued - Note Payable Conversion, amount	25,637	0	$ 321	25,316	0	0
Balance, shares at Mar. 31, 2023			45,886,876
Balance, amount at Mar. 31, 2023	$ 1,198,218	$ 0	$ 45,888	$ 80,964,934	$ (81,125,991)	$ 1,313,387

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the period	$ (500,101)	$ (100,353)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Unrealized loss (gain) on investments	211,483	(246,654)
Depreciation and amortization	37,989	42,353
Loss on debt settlement	10,641	0
Loss on sale of investment securities	155,735	0
Stock issued for services	0	195,675
Stock payable for services	84,375	0
Note payable issued for services	40,000	15,000
Write off of abandoned equipment	0	585
Changes in Assets and Liabilities:
Accounts payable and accrued expenses	(35,931)	30,171
Accrued interest - related parties	50	15,424
Net Cash Provided by (Used in) Operating Activities	4,241	(47,799)
Cash Flows from Investing Activities:
Proceeds from sale of stock held for investment	9,040	0
Advances to related party	(19,388)	0
Net Cash Used in Investing Activities	(10,348)	0
Cash Flows from Financing Activities:
Proceeds from related parties notes payable, net	11,061	6,340
Net Cash Provided by Financing Activities	11,061	6,340
NET CHANGE IN CASH	4,954	(41,459)
CASH AT BEGINNING OF PERIOD	97,445	194,060
CASH AT END OF PERIOD	$ 102,399	$ 152,601

Organization and Summary of Sig

Organization and Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2023
Organization and Summary of Significant Accounting Policies
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”). 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, 2022 and 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, 2022 through March 31, 2023 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, 2023 may not be indicative of the results expected for the full year ending December 31, 2023. 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, 2022. 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, 2022, as filed with the United States Securities and Exchange Commission on April 20, 2023. 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, 2023, and its results of operations, cash flows, and changes in stockholders’ equity for the three months ended March 31, 2023. 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 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. All significant inter-company balances have been eliminated in consolidation. Going Concern: The Company has an accumulated deficit of $81,125,991 at March 31, 2023, 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. Use of Estimates: The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions by management affect the allowance for doubtful accounts, the carrying value of long-lived assets (including goodwill and intangible assets), the provision for income taxes and related deferred tax accounts, certain accrued liabilities, revenue recognition, contingencies, and the value attributed to stock-based awards. 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, 2023 and 2022, the Company had 50,000 and 175,000 outstanding warrants, respectively, and -0- and 777,654 shares of convertible preferred stock, respectively, that would be dilutive to future periods net income if converted. The number of shares that can be converted per the convertible note agreement can be converted after December 31, 2022 thus are dilutive as of March 31, 2023. 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, 2023, including interim periods within those fiscal years and with early adoption permitted. Early 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, 2023
Intangibles and Goodwill
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 December 31, 2022 and 2021: March 31, 2023 December 31, 2022 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 (1,414,388 ) (1,214,604 ) Net Intangible Assets $ 121,022 $ 320,806 Amortization expense for each of the three months ended March 31, 2023 and 2022 was $37,921 and $42,285, respectively. Amortization of intangibles through 2027 is: April 1, 2023 to March 31, 2024 $ 116,120 April 1, 2024 to March 31, 2025 932 April 1, 2025 to March 31, 2026 932 April 1, 2026 to March 31, 2027 932 April 1, 2027 to March 31, 2028 932 April 1, 2028 to March 31, 2029 1,174 Goodwill in the amount of $3,010,202 was recorded as part of the acquisition of PrestoCorp that occurred on August 1, 2017. Cumulative impairment of the PrestoCorp goodwill totals $1,173,000 as of March 31, 2023 and December 31, 2022. The balance of goodwill at March 31, 2023 and December 31, 2022 was $1,837,202.

Related Party Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2023
Related Party Transactions
Related Party Transactions	3. Related Party Transactions In addition to items disclosed in Note 6, the Company had additional related party transactions during the three months ended March 31, 2023 and 2022. Historically, 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, 2023, David Tobias, the Company’s chief executive officer and director, loaned $11,060 to the Company for notes payable bearing interest at the rate of 5% per annum due on December 31, 2023. During the three months ended March 31, 2023, the Company and Cathy Carroll, director, entered into a note payable for $70,000 for compensation due her for services. Ms. Carroll’s note bears interest at 8% per annum and is due December 31, 2024. The notes payable totaled $55,000 at December 31, 2022. During the year ended December 31, 2021, David Tobias loaned $42,160 to the Company for notes payable bearing interest at the rate of 5% per annum due on December 31, 2021. During the year ended December 31, 2021, the Company and Cathy Carroll, director, entered into a note payable for $25,000 for compensation due her for services. Ms. Carroll’s note bears interest at 5% per annum and is due December 31, 2021. The notes payable to Mr. Tobias and Ms. Carroll were extended and are now due December 31, 2022. During the years ended December 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 $16,374 and $66,872, respectively. The following tables reflect the related party note payable balances. Related party notes Accrued interest Total March 31, 2023 David Tobias, CEO & Director $ 43,761 $ 12,482 $ 56,243 New Compendium, greater than 10% Shareholder - 1,906 1,906 Cathy Carroll, Director 70,000 986 70,986 Other Affiliates 4,000 1,050 5,050 Totals $ 117,761 $ 16,424 $ 134,185 Related party notes Accrued interest Total December 31, 2022 David Tobias, CEO & Director $ 32,700 $ 12,482 $ 45,182 New Compendium, greater than 10% Shareholder – 1,906 1,906 Cathy Carroll, Director 55,000 986 55,986 Other Affiliates 4,000 1,000 5,000 Totals $ 91,700 $ 16,374 $ 108,074 During the three months ended March 31, 2023 and 2022, the Company incurred approximately $-0- and $14,000, respectively, for consulting services from a nephew of the Company’s president. The services were accrued at March 31, 2022 and paid in common stock in April 2022. These amounts are included in the statements of operations in general and administrative expenses. At March 31, 2023 and December 31, 2022, the Company has a balance due from MJ Harvest, Inc., with whom the Company plans to merge, of $75,054 and $55,666 (see Note 8). The amount is included in advances to related party on the condensed consolidated balance sheets. The funds were advanced to MJ Harvest, Inc. to cover operating expenses.

Investments

Investments	3 Months Ended
	Mar. 31, 2023
Investments
Investments	4. Investments At March 31, 2023 and December 31, 2022, the Company owns -0- and 8,238,769 shares respectively, of common stock of Medical Cannabis Payment Solutions (ticker: REFG). At March 31, 2023 and December 31, 2022, the fair value of the investment in REFG was $-0- and $12,358, respectively. The Company sold all of its position in REFG during the three months ended March 31, 2023 and recognized a loss on the sale of investment securities in the amount of $155,735. For the three months ended March 31, 2022 the Company recognized a gain on the change in fair value of $15,654. In 2021, the Company received 1,500,000 shares of common stock and 1,500,000 shares of preferred stock of THC Pharmaceuticals Inc. (ticker: CBDG). The CBDG shares were received as consideration for the sale of the Company’s majority interest in iBud and GKMP in the year ended December 31, 2021. On the date of sale, the shares were valued at fair value which was $0.20 per share or $600,000 in the aggregate. The Company’s Chief Executive Officer and Chairman of the Board, David Tobias is a Director of CBDG. 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, 2023 and December 31, 2022 was $3,600 and $367,500 resulting in a gain (loss) of ($211,483) and $231,000 for the change in fair value during the three months ended March 31, 2023 and 2022, respectively.

Convertible Notes Payable

Convertible Notes Payable	3 Months Ended
	Mar. 31, 2023
Convertible Notes Payable
Convertible Notes Payable	5. Convertible Notes Payable On August 25, 2022 and November 7, 2022, the Company entered into an agreement with 1800 Diagonal Lending, LLC (“Diagonal”) whereby the Company issued convertible notes to Diagonal with principal amounts of $104,250 and $64,250, respectively. The notes bear interest at 10% and have terms of one year when payment of principal and interest is due. After 180 days, the notes are convertible into shares of the Company’s common stock the number of which determined by dividing the principal balance outstanding by 65% of the lowest trading price of the Company’s stock during the five previous trading days before the date of the conversion. On March 2, 2023, Diagonal converted $15,000 of their note payable from August into 320,513 shares of common stock. As of March 31, 2023 amounts due to Diagonal total $89,250 and $64,250, respectively. On January 1, 2023, the Company entered into an agreement with Carolyn Merrill (“Carolyn”) whereby the Company issued a convertible note to Carolyn with a principal amount of $72,262. As stated in the January 1, 2023 agreement Ms Merrill’s contract compensation will also be added to the note for her services through March 31, 2023 in the amount of $25,000. Total note payable at March 31,2023 is $ 97,262. The note bears interest at 8% and has a term of one year when payment of principal and interest is due. If payment by S-8 shares the amount paid will be with a 10% discount, if by agreement and paid with restricted stock will be with a 20% discount. Both methods are calculated using the lowest 3 closing prices during the 15 trading days preceding the first day of the next calendar quarter. At March 31, 2023 and December 31, 2022, accrued interest payable and interest expense on these notes was $10,204 and $4,546. Accrued interest payable is included in accounts payable and accrued expenses on the consolidated balance sheet.

Stockholders Equity

Stockholders Equity	3 Months Ended
	Mar. 31, 2023
Stockholders Equity
Stockholders' Equity	6. Stockholders’ Equity Change in Authorized Shares The Company increased the number of authorized common shares the Company is authorized to issue to 495,000,000 on August 8, 2022. This change in capital structure was approved without a meeting by the consent of the shareholders holding a majority of the common stock outstanding and Articles of Amendment were filed with the State of Nevada. Securities Issuances During the three months ended March 31, 2023, 320,513 shares of common stock were issued to convert $15,000 of a note payable to a non-related party. See Note 5. Stock payable at March 31, 2023 consists of 1,219,513 preferred shares and 838,415 common shares owed to members of the board of directors for directors’ fees and contract services. These shares were valued at $84,375 based on the fair value of the Company’s common stock at the date of board authorization. Subsequent to year end, no issuances of the shares have been made. Stock payable at December 31, 2022 consists of 1,306,302 preferred shares and 1,469,590 common shares owed to members of the board of directors for directors’ fees and contract services. These shares were valued at $212,500 based on the fair value of the Company’s common stock at the date of board authorization. An additional 2,393,873 common shares were owed to various non-related vendors at December 31, 2022 valued at $205,656 based on the fair value of the Company’s common stock at the date of board authorization. Subsequent to year end, no issuances of the shares have been made. Stock Compensation Plans 2017 Stock Plan On July 28, 2017, the Company adopted the Cannabis Sativa 2017 Stock Plan which authorized the Company to utilize common stock to compensate employees, officers, directors, and independent contractors for services provided to the Company. The Company authorized up to 3,000,000 shares of common stock to be issued pursuant to the 2017 Stock Plan. At December 31, 2021, no shares were available for further issuance under this plan. 2020 Stock Plan On September 25, 2020, the Company adopted the Cannabis Sativa 2020 Stock Plan which authorized the Company to utilize common stock to compensate employees, officers, directors, and independent contractors for services provided to the Company. By resolution dated September 25, 2020, the Company authorized up to 1,000,000 shares of common stock to be issued pursuant to the 2020 Stock Plan. This amount was subsequently increased to 2,000,000 shares on January 27, 2021. At March 31, 2023, 44,425 shares were available for future issuance. Warrants At March 31, 2023 and December 31, 2022, the Company has outstanding warrants to purchase 50,000 shares of the Company’s common stock. As of March 31, 2023, the warrants have an exercise price of $2.00 and expire in July and August 2023. During the three months ended March 31, 2023 and 2022, warrants activity consisted of the following: warrants issued – none (2022: none), warrants exercised – none (2022: none), warrants expired – none (2022: none).

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2023
Commitments and contingencies (Notes 6 and 8)
Commitments and Contingencies	7. Commitments and Contingencies Leases. PrestoCorp leased office space through WeWork in New York on a month-to-month basis which ended in April 2022. On April 12, 2022, PrestoCorp signed a new lease in New York with Spaces for a two-year term at $2,590 per month expiring in April 2024. Upon signing the lease with Spaces, the Company recognized a lease liability and a right of use asset of $56,595 using a discount rate of 10%. The future lease payments under the new lease are as follows: From April 1, 2023 to March 31, 2024 $ 31,080 From April 1, 2024 to March 31, 2025 2,590 Subtotal 33,670 Less imputed interest (1,620 ) Net lease liability 32,050 Current Portion (29,460 ) Long-term portion $ 2,590 Rent expense for the three months ended March 31, 2023 and 2022 was $8,416 and $18,723, respectively. 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, 2023, no claims are outstanding.

Proposed Merger with MJ Harvest

Proposed Merger with MJ Harvest Inc	3 Months Ended
	Mar. 31, 2023
Proposed Merger with MJ Harvest Inc
Proposed Merger with MJ Harvest, Inc.	8. Proposed Merger with MJ Harvest, Inc. On August 8, 2022, the Company entered into a Merger Agreement (the “Merger Agreement”) with MJ Harvest, Inc. (“MJHI”). Pursuant to the Merger Agreement, MJHI will merge with and into the Company and the Company will be the surviving corporation in the Merger. The Merger is expected to be consummated once the shareholders of the Company and the shareholders of MJHI approve the Merger which management expects will be completed early in the second quarter of calendar year 2023. The terms of the Merger Agreement are summarized below: · The name of the surviving company in the Merger will be Cannabis Sativa, Inc. · Each share of MJHI common stock outstanding on the effective date of the Merger will be converted into 2.7 shares of CBDS Common Stock. · The Merger is subject to majority approval of the shareholders of both MJHI and CBDS. · The shareholders of MJHI and CBDS will have rights to dissent from the Merger, and, if the notice of dissent is properly given, the dissenting shareholders may be paid fair value for such dissented shares. · The Board of Directors of the surviving company following the Merger is intended to consist of Patrick Bilton, Randy Lanier, Clinton Pyatt, and David Tobias. · The Executive Officers of the Company following the Merger are intended to include Patrick Bilton - Chief Executive Officer, Clinton Pyatt - Chief Operating Officer. · The Merger Agreement includes representations and warranties, covenants, and conditions for MJHI and CBDS as are customary for transactions of this nature. · No brokerage fees are payable in connection with the Merger. · If majority shareholder approval of the merger is not obtained, the Merger will not occur, and the Merger Agreement will be terminated. · All costs and expenses in connection with the Merger transactions will be borne by CBDS, except that MJHI will be responsible for expenses of its own legal counsel and auditing costs.

Subsequent Event

Subsequent Event	3 Months Ended
	Mar. 31, 2023
Subsequent Event
Subsequent Event	9. Subsequent Event On May 5, 2023, the Company issued an aggregate of 2,450,000 restricted shares of common stock of the Company to two persons who are officers of a subsidiary of the Company. The issued shares were bonus shares awarded to the individuals in the first quarter of 2023 and had a fair value of $88,200.

Organization and Summary of S_2

Organization and Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2023
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”). 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, 2022 and 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, 2022 through March 31, 2023 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, 2023 may not be indicative of the results expected for the full year ending December 31, 2023. 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, 2022. 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, 2022, as filed with the United States Securities and Exchange Commission on April 20, 2023. 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, 2023, and its results of operations, cash flows, and changes in stockholders’ equity for the three months ended March 31, 2023. 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 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. All significant inter-company balances have been eliminated in consolidation.
Going Concern	The Company has an accumulated deficit of $81,125,991 at March 31, 2023, 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.
Use of Estimates	The preparation of financial statements in conformity with generally accepted accounting principles in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Significant estimates and assumptions by management affect the allowance for doubtful accounts, the carrying value of long-lived assets (including goodwill and intangible assets), the provision for income taxes and related deferred tax accounts, certain accrued liabilities, revenue recognition, contingencies, and the value attributed to stock-based awards.
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, 2023 and 2022, the Company had 50,000 and 175,000 outstanding warrants, respectively, and -0- and 777,654 shares of convertible preferred stock, respectively, that would be dilutive to future periods net income if converted. The number of shares that can be converted per the convertible note agreement can be converted after December 31, 2022 thus are dilutive as of March 31, 2023.
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, 2023, including interim periods within those fiscal years and with early adoption permitted. Early 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, 2023
Intangibles and Goodwill
Schedule of Intangible Assets	March 31, 2023 December 31, 2022 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 (1,414,388 ) (1,214,604 ) Net Intangible Assets $ 121,022 $ 320,806
Schedule of amortization	April 1, 2023 to March 31, 2024 $ 116,120 April 1, 2024 to March 31, 2025 932 April 1, 2025 to March 31, 2026 932 April 1, 2026 to March 31, 2027 932 April 1, 2027 to March 31, 2028 932 April 1, 2028 to March 31, 2029 1,174

Related Party Transactions (Tab

Related Party Transactions (Tables)	3 Months Ended
	Mar. 31, 2023
Related Party Transactions
Schedule of related party advance and note payable	Related party notes Accrued interest Total March 31, 2023 David Tobias, CEO & Director $ 43,761 $ 12,482 $ 56,243 New Compendium, greater than 10% Shareholder - 1,906 1,906 Cathy Carroll, Director 70,000 986 70,986 Other Affiliates 4,000 1,050 5,050 Totals $ 117,761 $ 16,424 $ 134,185 Related party notes Accrued interest Total December 31, 2022 David Tobias, CEO & Director $ 32,700 $ 12,482 $ 45,182 New Compendium, greater than 10% Shareholder – 1,906 1,906 Cathy Carroll, Director 55,000 986 55,986 Other Affiliates 4,000 1,000 5,000 Totals $ 91,700 $ 16,374 $ 108,074

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2023
Commitments and contingencies (Notes 6 and 8)
Schedule of future lease payments	From April 1, 2023 to March 31, 2024 $ 31,080 From April 1, 2024 to March 31, 2025 2,590 Subtotal 33,670 Less imputed interest (1,620 ) Net lease liability 32,050 Current Portion (29,460 ) Long-term portion $ 2,590

Organization and Summary of S_3

Organization and Summary of Significant Accounting Policies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Accumulated deficit	$ 81,125,991		$ 80,603,069
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	50,000	175,000
Convertible Series A Preferred Stock [Member]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	0	777,654
Preferred Stock [Member]
Equity Method Investment, Ownership Percentage	51%
IBud [Member]
Equity Method Investment, Ownership Percentage	51%
Cannabis Sativa [Member] | Internet Domain Names [Member]
Equity Method Investment, Ownership Percentage	50.10%

Intangibles and Goodwill (Detai

Intangibles and Goodwill (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Total Intangibles	$ 1,535,410	$ 1,535,410
Less: Accumulated Amortization	(1,414,388)	(1,214,604)
Net Intangible Assets	121,022	320,806
Intellectual Property [Member] | Prestocorp [Member]
Total Intangibles	240,000	240,000
Cannabis Sativa [Member] | Internet Domain Names [Member]
Total Intangibles	13,999	13,999
K P A L [Member] | Patents And Trademarks [Member]
Total Intangibles	$ 1,281,411	$ 1,281,411

Intangibles and Goodwill (Det_2

Intangibles and Goodwill (Details 1)	Mar. 31, 2023 USD ($)
Intangibles and Goodwill
April 1, 2023 to March 31, 2024	$ 116,120
April 1, 2024 to March 31, 2025	932
April 1, 2025 to March 31, 2026	932
April 1, 2026 to March 31, 2027	932
April 1, 2027 to March 31, 2028	932
April 1, 2028 to March 31, 2029	$ 1,174

Intangibles and Goodwill (Det_3

Intangibles and Goodwill (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Amortization of Intangible Assets	$ 37,921	$ 42,285
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

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Notes Payable to Related Parties	$ 117,761	$ 91,700
Accrued interest - related parties	16,424	16,374
Total	134,185	108,074
David Tobias, CEO &amp
Notes Payable to Related Parties	43,761	32,700
Accrued interest - related parties	12,482	12,482
Total	56,243	45,182
New Compendium Affiliate [Member]
Notes Payable to Related Parties	0
Accrued interest - related parties	1,906	1,906
Total	1,906	1,906
Cathy Carroll, Director
Notes Payable to Related Parties	70,000	55,000
Accrued interest - related parties	986	986
Total	70,986	55,986
Other Affiliates [Member]
Notes Payable to Related Parties	4,000	4,000
Accrued interest - related parties	1,050	1,000
Total	$ 5,050	$ 5,000

Related Party Transactions (D_2

Related Party Transactions (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Interest Expense			$ 16,374	$ 66,872
Advances to related party	$ 75,054		55,666
David Tobias [Member]
Principal Amount				$ 42,160
Due Date				Dec. 31, 2021
Cathy Carroll, Director
Compensation due for services	$ 70,000
Principal Amount				$ 25,000
Due Date				Dec. 31, 2021
Interest rate	8%
Note Payable	$ 55,000
David Tobias, Director
Advances to related party	$ 75,054		55,666
Due Date				Dec. 31, 2021
Interest rate	5%
Note Payable	$ 11,060
Consultant [Member]
Other General and Administrative Expense	0	$ 14,000
Directors And Contract Officers [Member]
Stock payable due to related parties	$ 430,268		$ 345,893
Minimum [Member]
Debt Instrument, Interest Rate, Stated Percentage	5%
Maximum [Member]
Debt Instrument, Interest Rate, Stated Percentage	8%

Investments (Details Narrative)

Investments (Details Narrative) - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022	Dec. 31, 2021
Stock Issued During Period, Shares, Purchase of Assets	0		8,238,769
Unrealized (gain) loss on investment	$ 211,483	$ (246,654)
C B D G [Member]
Share price			$ 0.20
Fair value of investment	3,600		$ 367,500
Proceeds from sales of equity			$ 600,000
Percentage of voting share held by director			15%
Unrealized (gain) loss on investment	(211,483)		$ 231,000
C B D G [Member] | Preferred Stock One [Member]
Stock Issued During Period, Shares, Purchase of Assets				1,500,000
C B D G [Member] | Common Stock One [Member]
Stock Issued During Period, Shares, Purchase of Assets				1,500,000
R E F G [Member]
Fair value of investment	0		$ 12,358
Loss on the sale of investment securities	155,735
Gain on the change in fair value	$ 15,654

Convertible Note Payable (Detai

Convertible Note Payable (Details Narrative) - USD ($)		1 Months Ended	3 Months Ended
	Jan. 02, 2023	Aug. 25, 2022	Mar. 31, 2023	Mar. 31, 2022	Jan. 01, 2023	Dec. 31, 2022	Nov. 07, 2022
Common stock shares issued			320,513
Convertible notes payable			$ 15,000
Accrued interest payable and interest expense			10,204			$ 4,546
Notes Payable			$ 11,061	$ 6,340
Diagonal Lending, LLC [Member]
Principal Amount		$ 104,250					$ 64,250
Interest rate		10%
Principal balance outstanding lowest trading price, percentage		65%
Common stock shares issued			320,513
Notes payable due			$ 89,250			$ 64,250
Convertible notes payable			15,000
Carolyn Merrill [Member]
Principal Amount					$ 72,262
Interest rate	8%
Compensation					$ 25,000
Agreement payment description	If payment by S-8 shares the amount paid will be with a 10% discount, if by agreement and paid with restricted stock will be with a 20% discount
Notes Payable			$ 97,262

Stockholders Equity (Details Na

Stockholders Equity (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended
	Jul. 28, 2017	Mar. 31, 2023	Dec. 31, 2022
Common Stock, Shares Authorized		495,000,000	495,000,000
Stock payable, value		$ 84,375	$ 212,500
Additional common shares owed to various non-related vendors, Shares			2,393,873
Additional common shares owed to various non-related vendors, Amount			$ 205,656
Common stock shares issued		320,513
Convertible notes payable		$ 15,000
Warrants
Outstanding warrants		50,000	50,000
Exercise price			$ 2
2017 Stock Plan
Common Stock issued to compensate employees and consultants	3,000,000
2021 Stock Plan
Shares available for future issuance		44,425
2020 Stock Plan
Shares available for future issuance		1,000,000
Increased number of shares available for future issuance		2,000,000
Preferred Stock [Member]
Stock payable		1,219,513	1,306,302
Common Stock [Member]
Stock payable		838,415	1,469,590

Commitments and Contingencies_2

Commitments and Contingencies (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Commitments and contingencies (Notes 6 and 8)
From April 1, 2023 to March 31, 2024	$ 31,080
From April 1, 2024 to March 31, 2025	2,590
Subtotal	33,670
Less imputed interest	1,620
Net lease liability	32,050
Current Portion	(29,460)	$ (28,736)
Long-term portion	$ 2,590	$ 10,232

Commitments and Contingencies_3

Commitments and Contingencies (Details Narrative) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Recognition of operating lease liability and right of use asset	$ 56,595
Discount rate	10%
Prestocorp [Member] | New York office Facilities
Description of lease	two-year term at $2,590 per month expiring in April 2024
Rent expense	$ 8,416	$ 18,723

Subsequent Event (Details Narra

Subsequent Event (Details Narrative) - Subsequent Event [Member]	May 05, 2023 USD ($) shares
Restricted common stock, shares issued | shares	2,450,000
Fair value of bonus shares awarded | $	$ 88,200