Cannabis Sativa (CBDS) 10-Q 13 Aug 24 2024 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Aug. 13, 2024
Details
Registrant CIK	0001360442
Fiscal Year End	--12-31
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Securities Act File Number	000-53571
Entity Registrant Name	Cannabis Sativa, Inc.
Entity Incorporation, State or Country Code	NV
Entity Tax Identification Number	20-1898270
Entity Address, Address Line One	355 W. Mesquite Blvd.
Entity Address, Address Line Two	#C-70
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
Las Vegas Office Facilities	Yes
Las Vegas Office Facilities	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		108,119,505
Amendment Flag	false
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - Unaudited - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Current Assets
Cash	$ 61,193	$ 83,762
Investment in equity securities, at fair value	25,500	66,000
Right of use asset	0	10,232
Total Current Assets	86,693	159,994
Advances to related party	75,054	75,054
Property and equipment, net	2,299	2,436
Intangible assets, net	4,669	7,259
Goodwill	1,775,811	1,775,811
Total Assets	1,944,526	2,020,554
Current Liabilities
Accounts payable and accrued expenses	141,841	175,066
Operating lease liability, current	0	10,232
Accrued interest - related parties	20,353	20,130
Fair value of convertible component in convertible loans	174,490	0
Convertible notes payable	230,560	118,818
Notes payable to related parties	197,410	161,170
Total Current Liabilities	764,654	485,416
Long-term liabilities
Stock payable	883,392	777,747
Total Liabilities	1,648,046	1,263,163
Stockholders' Equity
Common shares	103,015	88,815
Additional paid-in capital	81,530,429	81,392,196
Accumulated deficit	(82,659,595)	(82,083,492)
Total Cannabis Sativa, Inc. Stockholders' Deficit	(1,026,151)	(602,481)
Total Liabilities and Stockholders' Equity	1,944,526	2,020,554
Non-Controlling Interest	1,322,631	1,359,872
Total Stockholders' Equity	$ 296,480	$ 757,391

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets - Unaudited - Parenthetical - $ / shares	Jun. 30, 2024	Dec. 31, 2023
Condensed Consolidated Balance Sheets - Unaudited
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	103,014,672	88,814,037
Common Stock, Shares, Outstanding	103,014,672	88,814,037

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - Unaudited - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Condensed Consolidated Statements of Operations - Unaudited
Revenues	$ 234,391	$ 323,197	$ 459,522	$ 668,565
Cost of Revenues	84,102	120,608	183,120	226,009
Gross Profit	150,289	202,589	276,402	442,556
Operating Expenses
Professional fees	91,597	108,757	149,234	161,898
Depreciation and amortization	302	37,990	2,727	75,979
Wages and salaries	97,009	209,690	211,080	324,793
Advertising	6,052	4,630	7,932	7,476
General and administrative	153,274	146,339	278,165	289,588
Total Operating Expenses	348,234	507,406	649,138	859,734
Loss from Operations	(197,945)	(304,817)	(372,736)	(417,178)
Other Nonoperating Income (Expense)
Unrealized (gain) loss on investment	(7,350)	2,400	7,500	213,883
(Gain) loss on debt settlement	16,109	(114)	7,776	10,527
Loss on return of investment securities	0	0	33,000	155,735
Financial expense	184,072	9,233	192,332	19,114
Total Other (Income) Expenses, Net	192,831	11,519	240,608	399,259
Loss Before Income Taxes	(390,776)	(316,336)	(613,344)	(816,437)
Income Taxes	0	0	0	0
Net Loss for the Period	(390,776)	(316,336)	(613,344)	(816,437)
Income (loss) attributable to non-controlling interest - PrestoCorp	(14,946)	16,150	(37,242)	38,971
Net Loss for the Period Attributable To Cannabis Sativa, Inc	$ (375,830)	$ (332,486)	$ (576,102)	$ (855,408)
Net Loss for the Period per Common Share: Basic & Diluted	$ 0	$ (0.01)	$ (0.01)	$ (0.02)
Weighted Average Common Shares Outstanding: Basic And Diluted	94,364,400	48,169,783	91,619,670	46,926,618

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Common Stock	Additional Paid-in Capital	Restated Accumulated Deficit	Non-controlling Interest - Prestocorp	Total
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2022	$ 45,567	$ 80,939,618	$ (80,603,069)	$ 1,290,566	$ 1,672,682
Shares, Outstanding, Beginning Balance at Dec. 31, 2022	45,566,363
Common stock issued - note payable conversion	$ 321	25,316	0	0	25,637
Common stock issued - note payable conversion	320,513
Net loss	$ 0	0	(522,922)	22,821	(500,101)
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2023	$ 45,888	80,964,934	(81,125,991)	1,313,387	1,198,218
Shares, Outstanding, Ending Balance at Mar. 31, 2023	45,886,876
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2022	$ 45,567	80,939,618	(80,603,069)	1,290,566	1,672,682
Shares, Outstanding, Beginning Balance at Dec. 31, 2022	45,566,363
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2023	$ 50,049	81,087,973	(81,458,477)	1,329,537	1,009,082
Shares, Outstanding, Ending Balance at Jun. 30, 2023	50,048,273
Shares issued in consideration of convertible notes payable					39,000
Stock issued for services					88,200
Common stock issued for services in accounts payable					0
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2023	$ 45,888	80,964,934	(81,125,991)	1,313,387	1,198,218
Shares, Outstanding, Beginning Balance at Mar. 31, 2023	45,886,876
Common stock issued - note payable conversion	1,711,397
Net loss	$ 0	0	(332,486)	16,150	(316,336)
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2023	$ 50,049	81,087,973	(81,458,477)	1,329,537	1,009,082
Shares, Outstanding, Ending Balance at Jun. 30, 2023	50,048,273
Shares issued in consideration of convertible notes payable	$ 1,711	37,289	0	0	39,000
Stock issued for services	$ 2,450	85,750	0	0	88,200
Stock Issued During Period, Shares, Issued for Services	2,450,000
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2023	$ 88,815	81,392,196	(82,083,492)	1,359,872	757,391
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	88,814,037
Net loss	$ 0	0	(200,273)	(22,295)	(222,568)
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Mar. 31, 2024	$ 88,815	81,392,196	(82,283,765)	1,337,577	534,823
Shares, Outstanding, Ending Balance at Mar. 31, 2024	88,814,037
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Dec. 31, 2023	$ 88,815	81,392,196	(82,083,492)	1,359,872	757,391
Shares, Outstanding, Beginning Balance at Dec. 31, 2023	88,814,037
Common stock issued - note payable conversion	1,380,159
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2024	$ 103,015	81,530,429	(82,659,595)	1,322,631	296,480
Shares, Outstanding, Ending Balance at Jun. 30, 2024	103,014,672
Shares issued in consideration of convertible notes payable					21,120
Stock issued for services					0
Common stock issued for services in accounts payable					123,860
Equity, Including Portion Attributable to Noncontrolling Interest, Beginning Balance at Mar. 31, 2024	$ 88,815	81,392,196	(82,283,765)	1,337,577	534,823
Shares, Outstanding, Beginning Balance at Mar. 31, 2024	88,814,037
Common stock issued - note payable conversion	2,580,159
Net loss	$ 0	0	(375,830)	(14,946)	(390,776)
Equity, Including Portion Attributable to Noncontrolling Interest, Ending Balance at Jun. 30, 2024	$ 103,015	81,530,429	(82,659,595)	1,322,631	296,480
Shares, Outstanding, Ending Balance at Jun. 30, 2024	103,014,672
Shares issued in consideration of convertible notes payable	$ 2,580	25,993	0	0	28,573
Common stock issued for services in accounts payable	$ 11,620	$ 112,240	$ 0	$ 0	$ 123,860
Common stock issued for services in accounts payable - shares	11,620,476

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Cash Flows - Unaudited - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss for the period	$ (390,776)	$ (316,336)	$ (613,344)	$ (816,437)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Unrealized (gain) loss on investment	(7,350)	2,400	7,500	213,883
Depreciation and amortization	302	37,990	2,727	75,979
(Gain) loss on debt settlement	16,109	(114)	7,776	10,527
Loss on return of investment securities	0	0	33,000	155,735
Stock issued for services		88,200	0	88,200
Stock payable for services			231,250	196,527
Note payable issued for services			30,000	55,000
Changes in Assets and Liabilities
Change in fair value of convertible component in convertible loans			174,490	0
Accounts payable and accrued expenses			62,352	(31,321)
Accrued interest - related parties			1,440	50
Net Cash Used in Operating Activities			(62,809)	(51,857)
Cash Flows from Investing Activities
Proceeds from sale of stock held for investment			0	9,040
Advances to related party			0	(19,388)
Net Cash Used in Investing Activities			0	(10,348)
Cash Flows from Financing Activities
Proceeds from convertible note payable			30,000	0
Proceeds from related parties notes payable, net			10,240	22,884
Net Cash Provided by Financing Activities			40,240	22,884
NET CHANGE IN CASH			(22,569)	(39,321)
CASH AT BEGINNING OF PERIOD			83,762	97,445
CASH AT END OF PERIOD	61,193	58,124	61,193	58,124
Supplemental Disclosures of Non Cash Activities
Shares issued in consideration of convertible notes and interest payable - related parties			7,453	30,000
Shares issued in consideration of convertible notes payable	28,573	$ 39,000	21,120	39,000
Convertible note issued for payable			86,022	0
Common stock issued for services in accounts payable	$ 123,860		$ 123,860	$ 0

1. Organization and Summary of

1. Organization and Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2024
Notes
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 is a 51% owned subsidiary. Wild Earth, KPAL, Hi Brands, and Eden are wholly owned subsidiaries. At June 30, 2024 and December 31, 2023, PrestoCorp is the sole operating subsidiary. Our primary operations for the six months ended June 30, 2024 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 and six months ended June 30, 2024, may not be indicative of the results expected for the full year ending December 31, 2024. 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, 2023. 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, 2023, as filed with the United States Securities and Exchange Commission on May 14, 2024. 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 June 30, 2024, and its results of operations, cash flows, and changes in stockholders’ equity for the three and six months ended June 30, 2024. 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. All significant inter-company balances have been eliminated in consolidation. Going Concern: The Company has an accumulated deficit of $82,659,595 at June 30, 2024, 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 six months ended June 30, 2024 and December 31, 2023 the Company had -0- and 50,000 outstanding warrants, respectively, and -0- shares of convertible preferred stock, respectively, that would be dilutive to future periods net income if converted. Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform with current year presentation. The reclassifications made to the prior year have no impact on net income or overall presentation of the financial statements. 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.

2. Intangibles and Goodwill

2. Intangibles and Goodwill	6 Months Ended
	Jun. 30, 2024
Notes
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 June 30, 2024 and December 31, 2023: June 30, 2024 December 31, 2023 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 (1,530,741) (1,528,151) Net Intangible Assets $ 4,669 $ 7,259 Amortization expense for the three and six months ended June 30, 2024 and 2023 was $233 (2023: $37,921) and $2,590 (2023: $75,842), respectively. Amortization of intangibles through 2029 is: July 1, 2024 to June 30, 2025 $ 932 July 1, 2025 to June 30, 2026 932 July 1, 2026 to June 30, 2027 932 July 1, 2027 to June 30, 2028 932 July 1, 2028 to June 30, 2029 932 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 $1,234,391 as of June 30, 2024 and December 31, 2023. The balance of goodwill at June 30, 2024 and December 31, 2023 was $1,775,811.

3. Related Party Transactions

3. Related Party Transactions	6 Months Ended
	Jun. 30, 2024
Notes
3. Related Party Transactions	3. Related Party Transactions In addition to items disclosed in Notes 6, the Company had additional related party transactions during the six months ended June 30, 2024 and 2023. 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 six months ended June 30, 2024 and 2023, David Tobias, the Company’s chief executive officer and director, loaned $10,240 and $22,721, respectively to the Company for notes payable bearing interest at the rate of 5% per annum due on December 31, 2024. The note payable totaled $58,160 and $47,921 at June 30, 2024 and December 31, 2023, respectively. During the six months ended June 30, 2024, the Company and Cathy Carroll, director, entered into a 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, 2024. The note payable totaled $139,250 and $109,250 at June 30, 2024 and December 31, 2023, respectively. The Company also has an outstanding loan in the amount of $4,000 to a director of the Company. It accrues interest at 5% per annum. On May 22, 2024, the Company paid off this loan and the accrued interest with stock. See Note 6. During the three and six months ended June 30, 2024 and 2023, 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 $689 (2023: $6,158) and $1,440 (2023: $11,815), respectively. The following tables reflect the related party payable balances. Related party payables Accrued interest Total June 30, 2024 David Tobias, CEO & Director $ 58,160 $ 17,461 $ 75,621 New Compendium, greater than 10% Shareholder - 1,906 1,906 Stock payable 413,750 - 413,750 Cathy Carroll, Director 139,250 986 140,236 Totals $ 611,160 $ 20,353 $ 631,513 Related party payables Accrued interest Total December 31, 2023 David Tobias, CEO & Director $ 47,920 $ 13,779 $ 61,699 New Compendium, greater than 10% Shareholder - 1,906 1,906 Cathy Carroll, Director 109,250 986 110,236 Stock payable 332,500 - 332,500 Other Affiliates 4,000 1,200 5,200 Totals $ 493,670 $ 17,871 $ 511,541 At June 30, 2024 and December 31, 2023, the Company has a balance due from MJ Harvest, Inc., with whom the Company plans to merge, of $75,054 (see Note 9). 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. The following tables reflect the related party transactions. Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Director fee $ 11,875 $ 11,875 11,875 11,875 Outside services 59,375 59,375 118,750 118,750 Management fee 9,923 23,625 27,287 44,100 Payroll expenses 38,896 - 38,896 -

4. Investments

4. Investments	6 Months Ended
	Jun. 30, 2024
Notes
4. Investments	4. Investments At June 30, 2024 and December 31, 2023, the Company owns -0- shares of common stock of Medical Cannabis Payment Solutions (ticker: REFG). In January 2023, the Company sold all of its holdings in REFG for $9,041 and recognized a loss of $155,735. 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. On January 1, 2024, the preferred shares were returned to 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 June 30, 2024 and December 31, 2023 was $25,500 and $66,000 resulting in a unrealized (gain) loss of ($7,350) (2023: $2,400) and $7,500 (2023: $213,883) for the change in fair value during the three and six months ended June 30, 2024 and 2023, respectively. The returned preferred shares are accounted for as a loss on return of investment securities on the statement of operations for the six months ended June 30, 2024 in the amount of $33,000.

5. Convertible Notes Payable

5. Convertible Notes Payable	6 Months Ended
	Jun. 30, 2024
Notes
5. Convertible Notes Payable	5. Convertible Notes Payable 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. On December 19, 2023, $11,500 of note payable was converted to 6,700,000 shares common stock which were valued at $36,800 resulting in a loss on conversion of $25,300. Note payable at December 31, 2023 was $85,762. The note bears interest at 8% and has a term of one year when payment of principal and interest is due and 12% thereafter. 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 30% discount. Both methods are calculated using the average of the lowest 3 closing prices during the 30 trading days preceding the request for conversion. The Company accounted for the note in accordance with ASC 470-20, Debt with conversion and other Options. As of June 30, 2024, the conversion feature was revalued at $27,083. On September 18, 2023, the Company entered into an agreement with Quick Capital, LLC whereby the Company issued a convertible note with a principal amount of $33,055. The maturity date is nine months after the issue date, accruing interest at 12% per annum and can be converted after 180 days from date of issue at a fixed rate of $0.01 per share. On June 26, 2024, Quick Capital converted $7,613 of note payable, $2,967 accrued interest and $1,420 fees for a total of $12,000 into 1,200,000 shares common stock. The market value on June 26, 2024 was $0.0176 or a market value of $21,120 which gave rise to a loss on conversion of $9,120. The Company accounted for the note in accordance with ASC 470-20, Debt with conversion and other Options. As of June 30, 2024, the conversion feature was revalued at $103. On August 16, 2023, the Company entered into an agreement with Colonial Stock Transfer Company, Inc., (“CSTC”) whereby the Company issued a convertible note to CSTC with a principal amount of $11,020. The note bears interest at 10% 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 25% discount. The conversion methods are calculated using the lowest closing prices during the 25 trading days preceding the request for conversion. On January 15, 2024, the Company entered into an agreement with Carolyn Merrill (“Carolyn”) whereby the Company issued a convertible note to Carolyn with a principal amount of $75,000. The note bears interest at 5% 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 30% discount. Both methods are calculated using the average of the lowest 3 closing prices during the 30 trading days preceding the request for conversion. The Company accounted for the note in accordance with ASC 470-20, Debt with conversion and other Options. As of June 30, 2024, the conversion feature was revalued at $147,304. On May 22, 2024, the Company entered into an agreement with Quick Capital, LLC whereby the Company issued a convertible note with a principal amount of $33,333. The Company received $25,000 after loan costs of $5,000 and original issue discount of $3,333. The original issue discount is included in loss on debt settlement. The maturity date is nine months after the issue date, accruing interest at 12% per annum and can be converted after 180 days from date of issue at a fixed rate of $0.02 per share. The Company accounted for the note in accordance with ASC 470-20, Debt with conversion and other Options. As of June 30, 2024, the conversion feature was revalued at $0. Interest expense for the three and six months ended June 30, 2024 and 2023 was $2,144 (2023: $6,157) and $10,146 (2023: $11,815), respectively. Accrued interest payable is included in accounts payable and accrued expenses on the condensed consolidated balance sheet.

6. Stockholders' Equity

6. Stockholders' Equity	6 Months Ended
	Jun. 30, 2024
Notes
6. 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 six months ended June 30, 2023, 2,031,910 shares of common stock were issued to convert $54,000 of a note payable to a non-related party. See Note 5. During the six months ended June 30, 2023, 2,450,000 shares of common stock were issued to pay bonuses in the amount of $88,200. During the six months ended June 30, 2024, 11,620,476 shares of common stock were issued to pay services that were included in accounts payable at December 2023 in the amount of $123,860. During the six months ended June 30, 2024, 1,380,159 shares of common stock were issued to convert $4,000 of a note payable and $1,217 of accrued interest to a related party. The note was converted at a discount of 30% at a average of the lowest closing prices for 30 days prior to January 29, 2024 which produced a loss on debt settlement of $2,236. See Note 3. During the six months ended June 30, 2024, 1,200,000 shares of common stock were issued to convert $7,613 of a note payable, $2,967 of accrued interest and $1,420 of fees. The note was converted at a flat rate of $0.01. Market value at date of conversion was $0.0176 which produced a loss on debt settlement of $9,120. See Note 5. Stock payable at June 30, 2024 consists of 22,548,554 preferred shares and 15,478,008 restricted common shares owed to members of the board of directors and officers for directors’ fees and contract services. These shares were valued at $743,750 based on the fair value of the Company’s common stock at the date of board authorization. An additional 4,702,249 common shares were owed to as non-related vendor at June 30, 2024 valued at $139,643 based on the fair value of the Company’s common stock at the date of board authorization. Stock Compensation Plans 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 June 30, 2024 and December 31, 2023 44,425 shares were available for future issuance.

7. Commitments and Contingencie

7. Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Notes
7. Commitments and Contingencies	7. Commitments and Contingencies 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 June 30, 2024, no claims are outstanding.

8. Proposed Merger with MJ Harv

8. Proposed Merger with MJ Harvest, Inc	6 Months Ended
	Jun. 30, 2024
Notes
8. 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 merger was withdrawn with the SEC in August 2023. The Company and MJ Harvest are continuing discussions in hopes of completing this transaction.

9. Subsequent Events

9. Subsequent Events	6 Months Ended
	Jun. 30, 2024
Notes
9. Subsequent Events	9. Subsequent events In accordance with ASC 855-10, Company management reviewed all material events through the date of this report and determined that there are no additional material subsequent events to report.

1. Organization and Summary o_2

1. Organization and Summary of Significant Accounting Policies: Consolidation, Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Consolidation, Policy	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. All significant inter-company balances have been eliminated in consolidation.

1. Organization and Summary o_3

1. Organization and Summary of Significant Accounting Policies: Substantial Doubt about Going Concern (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Substantial Doubt about Going Concern	Going Concern: The Company has an accumulated deficit of $82,659,595 at June 30, 2024, 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.

1. Organization and Summary o_4

1. Organization and Summary of Significant Accounting Policies: Use of Estimates, Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Use of Estimates, Policy	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.

1. Organization and Summary o_5

1. Organization and Summary of Significant Accounting Policies: Earnings Per Share, Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Earnings Per Share, Policy	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 six months ended June 30, 2024 and December 31, 2023 the Company had -0- and 50,000 outstanding warrants, respectively, and -0- shares of convertible preferred stock, respectively, that would be dilutive to future periods net income if converted.

1. Organization and Summary o_6

1. Organization and Summary of Significant Accounting Policies: Reclassifications (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
Reclassifications	Reclassifications Certain amounts in the prior year financial statements have been reclassified to conform with current year presentation. The reclassifications made to the prior year have no impact on net income or overall presentation of the financial statements.

1. Organization and Summary o_7

1. Organization and Summary of Significant Accounting Policies: New Accounting Pronouncements, Policy (Policies)	6 Months Ended
	Jun. 30, 2024
Policies
New Accounting Pronouncements, Policy	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.

2. Intangibles and Goodwill_ Sc

2. Intangibles and Goodwill: Schedule of Finite-Lived Intangible Assets (Tables)	6 Months Ended
	Jun. 30, 2024
Tables/Schedules
Schedule of Finite-Lived Intangible Assets	June 30, 2024 December 31, 2023 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 (1,530,741) (1,528,151) Net Intangible Assets $ 4,669 $ 7,259

2. Intangibles and Goodwill_ _2

2. Intangibles and Goodwill: Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Tables)	6 Months Ended
	Jun. 30, 2024
Tables/Schedules
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	July 1, 2024 to June 30, 2025 $ 932 July 1, 2025 to June 30, 2026 932 July 1, 2026 to June 30, 2027 932 July 1, 2027 to June 30, 2028 932 July 1, 2028 to June 30, 2029 932

3. Related Party Transactions_

3. Related Party Transactions: Schedule Of Related Party Advance And Notes Payable (Tables)	6 Months Ended
	Jun. 30, 2024
Tables/Schedules
Schedule Of Related Party Advance And Notes Payable	Related party payables Accrued interest Total June 30, 2024 David Tobias, CEO & Director $ 58,160 $ 17,461 $ 75,621 New Compendium, greater than 10% Shareholder - 1,906 1,906 Stock payable 413,750 - 413,750 Cathy Carroll, Director 139,250 986 140,236 Totals $ 611,160 $ 20,353 $ 631,513 Related party payables Accrued interest Total December 31, 2023 David Tobias, CEO & Director $ 47,920 $ 13,779 $ 61,699 New Compendium, greater than 10% Shareholder - 1,906 1,906 Cathy Carroll, Director 109,250 986 110,236 Stock payable 332,500 - 332,500 Other Affiliates 4,000 1,200 5,200 Totals $ 493,670 $ 17,871 $ 511,541

3. Related Party Transactions_2

3. Related Party Transactions: Schedule of Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2024
Tables/Schedules
Schedule of Related Party Transactions	Three Months Ended June 30, 2024 Three Months Ended June 30, 2023 Six Months Ended June 30, 2024 Six Months Ended June 30, 2023 Director fee $ 11,875 $ 11,875 11,875 11,875 Outside services 59,375 59,375 118,750 118,750 Management fee 9,923 23,625 27,287 44,100 Payroll expenses 38,896 - 38,896 -

1. Organization and Summary o_8

1. Organization and Summary of Significant Accounting Policies: Substantial Doubt about Going Concern (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Details
Accumulated deficit	$ (82,659,595)	$ (82,083,492)

2. Intangibles and Goodwill_ _3

2. Intangibles and Goodwill: Schedule of Finite-Lived Intangible Assets (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Total Intangibles	$ 1,535,410	$ 1,535,410
Less: Accumulated Amortization	(1,530,741)	(1,528,151)
Intangible assets, net	4,669	7,259
Internet Domain Names | Cannabis Sativa
Total Intangibles	13,999	13,999
Intellectual Property | Prestocorp
Total Intangibles	240,000	240,000
Patents And Trademarks | KPAL
Total Intangibles	$ 1,281,411	$ 1,281,411

2. Intangibles and Goodwill (De

2. Intangibles and Goodwill (Details) - USD ($)		3 Months Ended		6 Months Ended
	Aug. 01, 2017	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Amortization of Intangible Assets		$ 233	$ 37,921	$ 2,590	$ 75,842
Goodwill		1,775,811		1,775,811		$ 1,775,811
Prestocorp
Goodwill, Impairment Loss	$ 3,010,202
Goodwill, Impaired, Accumulated Impairment Loss		1,234,391		1,234,391		1,234,391
Goodwill		$ 1,775,811		$ 1,775,811		$ 1,775,811

2. Intangibles and Goodwill_ _4

2. Intangibles and Goodwill: Schedule of Finite-Lived Intangible Assets, Future Amortization Expense (Details)	Jun. 30, 2024 USD ($)
Details
Finite-Lived Intangible Asset, Expected Amortization, Year One	$ 932
Finite-Lived Intangible Asset, Expected Amortization, Year Two	932
Finite-Lived Intangible Asset, Expected Amortization, Year Three	932
Finite-Lived Intangible Asset, Expected Amortization, Year Four	932
Finite-Lived Intangible Asset, Expected Amortization, Year Five	$ 932

3. Related Party Transactions (

3. Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Proceeds from related parties notes payable, net			$ 10,240	$ 22,884
Note payable issued for services			30,000	55,000
Notes payable to related parties	$ 197,410		197,410		$ 161,170
Interest Expense, Debt	2,144	$ 6,157	10,146	11,815
Advances to related party	$ 75,054		$ 75,054		75,054
Related Party Note Payable
Note payable issued for services				$ 54,000
Debt Instrument, Interest Rate, Stated Percentage	5%	8%	5%	8%
Interest Expense, Debt	$ 689	$ 6,158	$ 1,440	$ 11,815
Chief Executive Officer and Director
Proceeds from related parties notes payable, net			$ 10,240	$ 22,721
Debt Instrument, Interest Rate During Period			5%
Debt Instrument, Maturity Date			Dec. 31, 2024
Notes Payable	58,160		$ 58,160		47,921
Director
Debt Instrument, Interest Rate During Period				5%
Note payable issued for services				$ 15,000
Notes payable to related parties	$ 139,250		139,250		$ 109,250
Long-Term Debt, Average Amount Outstanding			$ 4,000
Long-Term Debt, Percentage Bearing Fixed Interest, Percentage Rate	5%		5%

3. Related Party Transactions_3

3. Related Party Transactions: Schedule Of Related Party Advance And Notes Payable (Details) - USD ($)	Jun. 30, 2024	Dec. 31, 2023
Related Party Payables	$ 611,160	$ 493,670
Accrued Interest Related Parties, Current And Noncurrent	20,353	17,871
Related Parties, Notes Payable and Accrued Interest	631,513	511,541
Chief Executive Officer and Director
Related Party Payables	58,160	47,920
Accrued Interest Related Parties, Current And Noncurrent	17,461	13,779
Related Parties, Notes Payable and Accrued Interest	75,621	61,699
New Compendium (Shareholder)
Related Party Payables	0	0
Accrued Interest Related Parties, Current And Noncurrent	1,906	1,906
Related Parties, Notes Payable and Accrued Interest	1,906	1,906
Stock payable
Related Party Payables	413,750	332,500
Accrued Interest Related Parties, Current And Noncurrent	0	0
Related Parties, Notes Payable and Accrued Interest	413,750	332,500
Director
Related Party Payables	139,250	109,250
Accrued Interest Related Parties, Current And Noncurrent	986	986
Related Parties, Notes Payable and Accrued Interest	$ 140,236	110,236
Other Affiliates
Related Party Payables		4,000
Accrued Interest Related Parties, Current And Noncurrent		1,200
Related Parties, Notes Payable and Accrued Interest		$ 5,200

3. Related Party Transactions_4

3. Related Party Transactions: Schedule of Related Party Transactions (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Details
Director fee	$ 11,875	$ 11,875	$ 11,875	$ 11,875
Outside services	59,375	59,375	118,750	118,750
Management fee	9,923	23,625	27,287	44,100
Payroll expenses	$ 38,896	$ 0	$ 38,896	$ 0

4. Investments (Details)

4. Investments (Details) - USD ($)	1 Months Ended	3 Months Ended		6 Months Ended		12 Months Ended
	Jan. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2021	Dec. 31, 2023
Loss on return of investment securities		$ 0	$ 0	$ 33,000	$ 155,735
REFG
Investment Owned, Balance, Shares		0		0			0
Investment Sold	$ 9,041
Loss on return of investment securities	$ 155,735
CBDG
Sale of Stock, Price Per Share						$ 0.2
Proceeds from Issuance or Sale of Equity						$ 600,000
Percentage Of Voting Share						15%
Investments, Fair Value Disclosure		$ 25,500		$ 25,500			$ 66,000
Gain (Loss) on Investments		$ (7,350)	$ (2,400)	$ (7,500)	$ (213,883)
CBDG | Common Stock
Stock Repurchased During Period, Shares						1,500,000
CBDG | Preferred Stock
Stock Repurchased During Period, Shares						1,500,000

5. Convertible Notes Payable (D

5. Convertible Notes Payable (Details) - USD ($)						3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 26, 2024	May 22, 2024	Jan. 15, 2024	Sep. 18, 2023	Aug. 16, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Dec. 19, 2023	Jan. 31, 2023
Fair value of convertible component in convertible loans						$ 174,490		$ 174,490		$ 0
Shares issued in consideration of convertible notes payable						28,573	$ 39,000	21,120	$ 39,000
(Gain) loss on debt settlement						16,109	(114)	7,776	10,527
Proceeds from convertible note payable								30,000	0
Interest Expense, Debt						2,144	$ 6,157	10,146	$ 11,815
Quick Capital, LLC
Notes Payable	$ 7,613
Debt Instrument, Increase, Accrued Interest						2,967
Conversion Fees						1,420
(Gain) loss on debt settlement						9,120
2023 Agreement | Quick Capital, LLC
Debt Instrument, Face Amount				$ 33,055
Notes Payable				$ 7,613
Fair value of convertible component in convertible loans						103		$ 103
Debt Instrument, Interest Rate During Period				12%
Debt Instrument, Increase, Accrued Interest						2,967
Conversion Fees						1,420
Shares issued in consideration of convertible notes payable						$ 12,000
Shares, Outstanding						1,200,000		1,200,000
(Gain) loss on debt settlement	$ 9,120
2023 Agreement | Colonial Stock Transfer Company, Inc.
Debt Instrument, Face Amount					$ 11,020
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 25% discount
Debt Instrument, Interest Rate During Period					10%
2024 Agreement | Quick Capital, LLC
Debt Instrument, Face Amount		$ 33,333
Fair value of convertible component in convertible loans						$ 0		$ 0
(Gain) loss on debt settlement		3,333
Proceeds from convertible note payable		25,000
Payments of Loan Costs		$ 5,000
Director
Debt Instrument, Interest Rate During Period									5%
(Gain) loss on debt settlement						2,236
Director | 2023 Agreement
Debt Instrument, Face Amount												$ 72,262
Compensation and Benefits Trust												$ 25,000
Notes Payable										$ 85,762	$ 11,500
Stock Issued During Period, Shares, Conversion of Convertible Securities										6,700,000
Stock Issued During Period, Value, Conversion of Convertible Securities										$ 36,800
Conversion Gains And Losses										$ 25,300
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 30% discount
Fair value of convertible component in convertible loans						27,083		27,083
Director | 2024 Agreement
Debt Instrument, Face Amount			$ 75,000
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 30% discount
Fair value of convertible component in convertible loans						$ 147,304		$ 147,304
Debt Instrument, Interest Rate During Period			5%

6. Stockholders' Equity (Detail

6. Stockholders' Equity (Details) - USD ($)	3 Months Ended			6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023	Jun. 26, 2024	Dec. 31, 2023	Jan. 27, 2021	Sep. 25, 2020
Common Stock, Shares Authorized	495,000,000			495,000,000			495,000,000
Note payable issued for services				$ 30,000	$ 55,000
Stock issued for services		$ 88,200		0	88,200
Common stock issued for services in accounts payable	$ 123,860			123,860	0
(Gain) loss on debt settlement	$ 16,109	$ (114)		7,776	10,527
Stock payable for services				$ 231,250	196,527
Additional Common Shares Owed To Various Non-Related Vendors, Shares				4,702,249
Additional Common Shares Owed To Various Non-Related Vendors, Value				$ 139,643
Employee Stock Ownership Plan (ESOP), Number of Allocated Shares								2,000,000	1,000,000
Common Stock, Capital Shares Reserved for Future Issuance	44,425			44,425			44,425
Quick Capital, LLC
(Gain) loss on debt settlement	$ 9,120
Notes Payable						$ 7,613
Debt Instrument, Increase, Accrued Interest	2,967
Conversion Fees	1,420
Director
Note payable issued for services					15,000
Long-Term Debt, Average Amount Outstanding				$ 4,000
(Gain) loss on debt settlement	$ 2,236
Related Party Note Payable
Note payable issued for services					$ 54,000
Common Stock
Common stock issued - note payable conversion	2,580,159	1,711,397	320,513	1,380,159
Stock Issued During Period, Shares, Issued for Services		2,450,000
Stock issued for services		$ 2,450
Common stock issued for services in accounts payable - shares	11,620,476
Common stock issued for services in accounts payable	$ 11,620
Stock Payable, Shares				15,478,008
Stock payable for services				$ 743,750
Common Stock | Related Party Note Payable
Common stock issued - note payable conversion					2,031,910
Preferred Stock
Stock Payable, Shares				22,548,554