GSRX Industries (GSRX) 10-Q 16 Feb 21 2020 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2020	Feb. 12, 2021
Cover [Abstract]
Entity Registrant Name	GSRX INDUSTRIES INC.
Entity Central Index Key	0001381240
Document Type	10-Q
Document Period End Date	Sep. 30, 2020
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business Flag	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		81,799,286
Document Fiscal Period Focus	Q3
Document Fiscal Year Focus	2020

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Current Assets
Cash		$ 75,704
Cash, held in escrow (Note 9)	528,570	528,570
Accounts Receivable	9,810	21,146
Inventory	611,887	442,316
Prepaid Inventory		371,263
Total Current Assets	1,150,267	1,438,999
Fixed Assets
Furniture, Fixtures and Equipment	388,750	406,729
Building, Land and Leasehold Improvements	992,007	1,009,505
Accumulated Depreciation	(409,865)	(264,583)
Total Net Fixed Assets	970,892	1,151,651
Other Assets
Advance to Parent and Affiliate, net of reserve		1,170,386
Licenses	812,300	812,300
Deposits	244,164	275,810
Investments, fair value (Note 2)	258,132	232,247
Investments, cost method (Note 2)	70,000	70,000
Right of Use (Note 2)	1,553,155	2,155,738
Construction in Progress (Note 5)	526,582	739,473
Total Other Assets	3,464,333	5,455,954
Total Assets	5,585,492	8,046,604
Current Liabilities
Accounts Payable	1,432,547	876,227
Accrued Expenses	136,766	362,903
Lease Liability - current (Note 2)	343,743	594,936
Total Current Liabilities	1,913,056	1,834,066
Long Term Liabilities
Lease Liability - non current (Note 2)	1,089,945	1,751,237
Total Long Term Liabilities	1,089,945	1,751,237
Total Liabilities	3,003,001	3,585,303
Commitments and Contingencies (Note 8)
Stockholders' Equity (Note 3)
Preferred Stock, convertible, $.001 par value; 1,000 shares authorized; 1,000 issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	1	1
Common Stock $.001 par value 100,000,000 authorized; 81,799,286 shares issued and outstanding as of September 30, 2020 and December 31, 2019, respectively	81,800	81,800
Additional paid-in capital	83,111,254	83,111,254
Retained Deficit	(80,265,868)	(78,579,239)
Equity Attributable to GSRX Industries Inc.	2,927,187	4,613,816
Non-Controlling Interest	(344,696)	(152,515)
Total Stockholders' Equity	2,582,491	4,461,301
Total Liabilities and Stockholders' Equity	$ 5,585,492	$ 8,046,604

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.001	$ 0.001
Preferred stock, shares authorized	1,000	1,000
Preferred stock, shares issued	1,000	1,000
Preferred stock, shares outstanding	1,000	1,000
Common stock, par value	$ 0.001	$ 0.001
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	81,799,286	81,799,286
Common stock, shares outstanding	81,799,286	81,799,286

Consolidated Statements of Oper

Consolidated Statements of Operations (Unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues
Revenues	$ 2,745,958	$ 2,757,158	$ 8,186,907	$ 9,062,462
Cost of Goods Sold	1,240,586	1,431,656	4,064,517	4,910,120
Gross Profit	1,505,372	1,325,502	4,122,390	4,152,342
Operating Expenses
Consulting Fees	238,973	458,233	733,237	1,324,969
General and Administrative	3,112,438	1,414,838	4,507,854	4,648,194
Abandonment of Option to Purchase Building				200,000
Impairment of leasehold improvements and rent deposits				654,426
Impairment of fixed assets and construction in progress	300,631		388,874
Professional Fees	60,374	155,375	266,668	703,408
Depreciation Expense	59,143	56,977	155,451	158,146
Stock Based Compensation (Note 3)
Consulting Fees		16,547,800		17,182,907
Share Exchange and Ancillary Rights Agreement				1,166,700
Director Fees		47,000		77,087
Professional Fees		282,000		690,000
Total Stock based compensation		16,876,800		19,116,694
Total Operating Expenses	3,771,559	18,962,223	6,052,084	26,805,837
Loss from Operations	(2,266,187)	(17,636,721)	(1,929,694)	(22,653,495)
Other Income (Expenses)
Rent Income		31,500		88,756
Option Fee			25,000
Unrealized gain on investments	(128,337)	(6,442,370)	25,885	(7,244,476)
Total Other Income (Expenses)	(128,337)	(6,410,870)	50,885	(7,155,720)
Loss From Operations Before Provision for Income Taxes	(2,394,524)	(24,047,591)	(1,878,809)	(29,809,215)
Provision for Income Taxes (Note 4)
Net Loss	(2,394,524)	(24,047,591)	(1,878,809)	(29,809,215)
Net Loss Attributable to Non-Controlling Interest	(155,744)	(34,001)	(192,182)	(512,819)
Net Loss Attributable to GSRX Industries Inc.	$ (2,238,780)	$ (24,013,590)	$ (1,686,627)	$ (29,296,396)
Basic and diluted loss per share	$ (0.03)	$ (0.33)	$ (0.02)	$ (0.49)
Weighted average number of common shares outstanding - basic and diluted	81,799,286	73,793,792	81,799,286	59,764,667

Consolidated Statement of Chang

Consolidated Statement of Changes in Stockholders' Equity - USD ($)	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Deficit [Member]	Non-Controlling Interest [Member]	Total
Balance at Dec. 31, 2018	$ 1	$ 46,036	$ 49,750,533	$ (42,322,236)	$ 401,789	$ 7,876,143
Balance, shares at Dec. 31, 2018	1,000	46,035,303
Issuance of Shares and Warrants for Cash		$ 1,434	1,181,566			1,183,000
Issuance of Shares and Warrants for Cash, shares		1,433,600
Issuance of Shares for Services		$ 21,717	16,731,476			16,753,193
Issuance of Shares for Services,shares		21,717,241
Issuance of Shares for Cash, Not issued as of Statement Date
Issuance of Shares for Cash, Not issued as of Statement Date, shares
Shares issued in Share Exchange and Ancillary Agreement		$ 11,667	12,822,031			12,833,698
Shares issued in Share Exchange and Ancillary Agreement, shares		11,666,998
Reduction of warrant exercise price			1,196,800			1,196,800
Capital Contributed by Non-Controlling Interests			1,391,198		59,287	1,504,363
Net Loss				(29,296,396)	(512,819)	(29,809,215)
Balance at Sep. 30, 2019	$ 1	$ 80,854	83,073,624	(71,618,632)	2,135	11,537,982
Balance, shares at Sep. 30, 2019	1,000	80,853,142
Balance at Dec. 31, 2019	$ 1	$ 81,800	83,111,254	(78,579,239)	(152,515)	4,461,301
Balance, shares at Dec. 31, 2019	1,000	81,799,286
Net Loss				(1,686,629)	(192,181)	(1,878,809)
Balance at Sep. 30, 2020	$ 1	$ 81,800	$ 83,111,254	$ (80,265,868)	$ (344,696)	$ 2,582,491
Balance, shares at Sep. 30, 2020	1,000	81,799,286

Consolidated Statements of Cash

Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019
Cash Flow from Operating Activities
Net Loss	$ (1,878,809)	$ (29,809,215)
Adjustments to Reconcile Net Loss to Net Cash used in Operating Activities
Issuance of Common Stock for Services		17,919,894
Reduction of warrant exercise price		1,196,800
Depreciation Expense	155,451	158,146
Abandonment of Option to Purchase Building		200,000
Impairment of leasehold improvements and rent deposits		654,426
Reserve for collection of Advance to Parent and Affiliate	1,798,580
Amortization of right of use asset	(309,902)	295,810
Unrealized (gain) loss on investments	(25,885)	7,244,476
Changes in Operating Assets and Liabilities:
Accounts Receivable	11,336	(37,799)
Inventory	(169,571)	(73,822)
Prepaid Inventory	371,263	157,647
Prepaid Expenses		2,500
Accounts Payable	556,320	10,132
Accrued Expenses	(226,137)	108,547
Net Cash Provided by (Used in) Operating Activities	555,973	(1,972,458)
Cash Flow from Investing Activities
Deposit		(284,909)
Purchase of Fixed Assets		(72,879)
Advance to Parent and Affiliate	(1,055,798)
Proceeds from Advance to Parent and Affiliate	427,604
Patent Application Costs incurred		(135,546)
Investments, cost method		(70,000)
Construction in Progress	(3,483)	(355,077)
Net Cash Used in Investing Activities	(631,677)	(918,411)
Cash Flow from Financing Activities
Issuance of Common Stock for Cash		1,183,000
Cash Contributed by Non-controlling Interests		1,504,363
Net Cash Provided by Financing Activities		2,687,363
Net Increase (Decrease) in Cash	(75,704)	(203,506)
Cash at Beginning of Period	604,274	1,313,645
Cash at End of Period	528,570	1,110,139
Cash paid during the period for:
Interest
Income Taxes
Supplemental Disclosure of Non-cash Investing and Financing Activities
Common stock issued for Investments, fair value		$ 11,666,998

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	1. Nature of Operations GSRX Industries Inc. (“the Company”) is a Nevada corporation formed under the name Cyberspace Vita, Inc. (“Cyberspace”) on November 7, 2006. The Company changed its name from Cyberspace to Green Spirit Industries Inc. on May 18, 2017. The Company changed its name from Green Spirit Industries Inc. to GSRX Industries Inc. on June 22, 2018. The Company is in the business of operating medical cannabis dispensaries in Puerto Rico and cannabis related businesses in California. Effective November 24, 2020 the Company sold all of its dispensaries in Puerto Rico (Note 9). Liquidity, Financial Condition and Management Plan Our consolidated financial statements contemplate that we will continue as a going concern and do not contain any adjustments that might result if we were unable to continue as a going concern. Our ability to continue as a going concern is dependent upon our ability to raise additional capital and implement our business plan. If we are unable to achieve or sustain profitability or to secure additional funds from our Parent, we may not be able to meet our obligations as they come due, raising substantial doubts as to our ability to continue as a going concern. Any such inability to continue as a going concern may result in our stockholders losing their entire investment. There is no guarantee that we will become profitable or secure additional funds from our parent. We are also planning on funding through private placements and continuing initiatives to raise capital to meet future working capital requirements. Historically, the Company had net losses and negative cash flows from operations. The Company continues to experience liquidity constraints due to the continuing losses. We believe our existing and available capital resources will be sufficient to satisfy our funding requirements through the second quarter of 2021. However, we continue to evaluate various options to further reduce our cash requirements to operate at a reduced rate, as well as options to raise additional funds.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Presentation The consolidated financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted. However, in the opinion of management, all adjustments (which include only normal recurring adjustments, unless otherwise indicated) necessary to present fairly the consolidated financial position and results of its operations for the periods presented have been made. The results for interim periods are not necessarily indicative of trends or of results to be expected for the full year. These consolidated financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2019 (including the notes thereto) set forth in Form 10-K filed with the Securities and Exchange Commission on June 11, 2020. Principles of Consolidation The consolidated financial statements through September 30, 2020 include the accounts of the Company and the following entities, all of which have fiscal year ends of December 31. (Note 1). ● 100% owned subsidiary, Project 1493, LLC; ● 100% owned subsidiary, Andalucia 511, LLC; ● 51% majority owned subsidiary, Spirulinex, LLC; ● 55% majority owned subsidiary, Sunset Connect Oakland, LLC; ● 55% majority owned, Green Spirit Essentials, LLC; ● 100% owned subsidiary, Green Spirit Mendocino, LLC; and ● 100% owned subsidiary, 138 Main Street PA, LLC. ● 100% owned subsidiary, GSRX SUPES, LLC ● 100% owned subsidiary, Point Arena Supply Co., LLC ● 100% owned subsidiary, Ukiah Supply Company, LLC ● 100% owned subsidiary, Pure and Natural, LLC ● 94% owned subsidiary, Point Arena Manufacturing, LLC ● 100% owned subsidiary, Point Arena Distribution, LLC ● 51% majority owned subsidiary, Pure and Natural-Lakeway, LLC ● 51% majority owned subsidiary, Pure and Natural One-TN, LLC ● 95% owned subsidiary, Green Room Palm Springs, LLC All intercompany transactions have been eliminated in the consolidated financial statements. Use of Estimates and Assumptions The preparation of the consolidated financial statements that are in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements. Cash and Cash Equivalents The Company considers all cash on hand, cash in banks and all highly liquid debt instruments purchased with a maturity of three months at purchase or less to be cash and cash equivalents. At times, cash and cash equivalent balances at a limited number of banks and financial institutions may exceed insurable amounts. At September 30, 2020 the Company had $278,570 in excess of FDIC depository insurance coverage. In the Company’s Puerto Rico operations, the Company holds cash from sales in multiple safes. The cash is used to pay vendors and certain taxes required to be paid with cash. The Company deposits cash into bank from safes when vendors require payment by check. As of September 30, 2020, the Company held approximately $68,000 in safes. Cash held in escrow, in the name of the Company, is held by Gunnison Bank (“Gunnison”). The escrow account was established to hold the deposits from the sale of equity in subsidiaries and hold funds for businesses under subscription agreements. There are no restrictions on the funds held by Gunnison on the Company’s behalf. Investments, fair value On March 30, 2019 the Company entered into a Share Exchange Agreement (the “Share Agreement”) and an Ancillary Rights Agreement (the “Ancillary Agreement”) with Chemesis International Inc., a British Columbian Corporation (“CADMF”). In the Share Agreement, the Company received 7,291,874 pre-split, restricted shares of common stock of CADMF initial fair value. On December 20, 2019 CADMF completed a reverse 1:10 stock split, reducing the shares held to 729,187. Fair value of the investment as of September 30, 2020 was $258,132. CADMF is quoted on the OTCQB market and closed on Wednesday, September 30, 2020 at $0.354 per share. Investments, cost method Pure and Natural, LLC made a $50,000 investment on January 4, 2019 for a 10% equity and profits interest in The Zen Stop, LLC. The Zen Stop is a mobile wellness business called “ Zen Stop.” Pure and Natural, LLC purchased 25,167 membership units in Buzznog, LLC for $20,000 on March 6, 2019. The investment is carried at the cost basis as it is a private company and fair value cannot be determined. Revenue Recognition The Company recognizes revenue at an amount that reflects the consideration that the Company expects to be entitled to receive in exchange for transferring goods or services to its customers. The Company’s policy is to record revenue when control of the goods transfers to the customer. In limited instances when products are sold under consignment arrangements, the Company does not recognize revenue until control over such products has transferred to the end consumer. The Company incurs costs associated with product distribution, such as freight and handling costs. The Company has elected to treat these costs as fulfillment activities and recognizes these costs at the same time that it recognizes the underlying product revenue. The following table presents the Company’s revenues disaggregated by type and by state/territory: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues by Type Wholesale $ 1,373 $ 852 $ 2,191 $ 51,180 Retail 2,744,585 2,756,306 8,184,716 9,011,282 Total $ 2,745,958 $ 2,757,158 $ 8,186,907 $ 9,062,462 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues by State/Territory California $ 110,064 $ 175,810 $ 303,163 $ 409,803 Tennessee - 12,814 10,113 38,479 Texas 1,373 2,648 4,795 90,915 Puerto Rico 2,634,521 2,565,886 7,868,836 8,523,265 Total $ 2,745,958 $ 2,757,158 $ 8,186,907 $ 9,062,462 Accounts Receivable The Company carries its accounts receivable at their estimated realizable amounts and periodically evaluates the credit condition of its customers. The allowance for uncollectible accounts receivable is based on the Company’s historical bad debt experience and on management’s evaluation of collectability of the individual outstanding balances. As of September 30, 2020, the Company had not identified any uncollectible accounts. Advance to Parent and Affiliate On October 11, 2019 the Company sold real estate in Puerto Rico, resulting in net proceeds of $920, 402. The Company advanced the proceeds to its parent, Chemesis in exchange for a note due January 31, 2020, bearing an interest of at Prime plus 1.0% per month. Through May 6, 2020 Chemesis repaid $650,000 on the loan. On May 6, 2020 the Company amended the loan agreement with Chemesis to repay $100,000 of the loan by May 30, 2020 and the balance paid in full by November 6, 2020. As of the date of this report, Chemesis did not make the loan payment of $100,000 due on May 30, 2020 or the balance in full due by November 6, 2020, but had repaid an additional $77,604 of the advance by September 30, 2020. The Company has placed a Reserve for Collection of the Advance to Parent and Affiliate for the outstanding balance of $192,798 as of September 30, 2020. The current balance due on the note as of the date of this report is $228,798. As of September 30, 2020, the Company advanced $1,605,782 to Natural Ventures Puerto Rico, LLC (“NVPR”), a subsidiary of Chemesis as an informal, unsecured, due upon demand advance. The Company has placed a Reserve for Collection of the Advance to Parent and Affiliate for the outstanding balance of $1,605,782 as of September 30, 2020. The current balance of the advance due as of the date of this report is $1,663,707. Inventory The Company’s inventory is stated at the lower of cost or market, determined by the first-in, first-out (“FIFO”) method. Inventory consists of cannabis products, such as flower, edibles, creams, oils and cannabis accessories as pipes, bowls and cartridges; and CBD products, such as soft gels, tinctures, balms, pain cream and vape pens. Inventory is comprised of the following items: As of As of September 30, December 31, 2020 2019 Finished goods – flower $ 128,103 $ 135,074 Finished goods – cannabis products 405,167 195,311 Finished goods – CBD products 78,617 111,931 Total $ 611,887 $ 442,316 Fixed Assets Fixed assets are recorded at cost and are depreciated using the straight-line method over estimated useful lives as follows: Type of Asset Estimated Life Furniture, Fixtures and Equipment 5 – 10 years Building and Leasehold improvements 5 - 25 years Share based Compensation Compensation cost relating to share-based payment transactions (including the cost of all employee stock options) is required to be recognized in the consolidated financial statements and covers a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. That cost is measured based on the estimated fair value of the equity or liability instruments issued. (See Note 3). Fair Value of Financial Instruments The carrying value of the Company’s current liabilities approximates fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed, except for cash balances in excess of the FDIC depository insurance coverage, to significant interest, currency or credit risks arising from these financial instruments. Income Taxes The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company was organized under the laws of Nevada and therefore will be taxed at statutory U.S. federal corporate income tax rates. Basic Earnings per Share The Company computes net income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. Basic net income (loss) per share amounts are computed by dividing the net loss by the weighted average number of common shares outstanding. Potentially dilutive securities have been excluded from the Company’s earnings per share calculation due to the exercise price being significantly higher than current market price of the Company’s shares. The total number of potentially dilutive securities which have been excluded is 995,334. (Note 3). Recent Accounting Pronouncements As of June 30, 2020 and through February 12, 2021 there were several new accounting pronouncements issued by the Financial Accounting Standards Board. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s financial position or future operating results. The Company will monitor these emerging issues to assess any potential future impact on its financial statements.

Equity

Equity	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Equity	3. Equity Series A Preferred Stock The holder of Series A Preferred Stock shall have full voting rights and shall vote together as a single class with the holders of the Company’s common stock. The holder of Series A Preferred Stock is entitled to fifty-one percent (51%) of the total votes on all matters brought before shareholders of the Company, regardless of the actual number of shares of Series A Preferred Stock then outstanding. In addition, the Company is prohibited from issuing any other class of preferred stock without first obtaining the prior approval of the holders of Series A Preferred Stock. All Series A Preferred stock issued and outstanding is held by Chemesis International, Inc., the Parent company. Blank Check Preferred Stock The board of directors is authorized, subject to any limitations prescribed by law, without further vote or action by the common stockholders, to issue from time to time shares of preferred stock in one or more series. Each series of preferred stock will have the number of shares, designations, preferences, voting powers, qualifications and special or relative rights or privileges as shall be determined by the board of directors, which may include, among others, dividend rights, voting rights, liquidation preferences, conversion rights and preemptive rights. Warrants As of September 30, 2020, the Company had outstanding warrants to purchase 6,995,796 shares of common stock (the “Warrants”). Each Warrant represents the right to purchase one share of common stock at various exercise prices per share for a period of two (2) or three (3) years from the date of issuance. Warrants Issued Exercise Price Expiration Date February 23, 2018 232,334 $ 6.00 February 23, 2021 October 5, 2018 517,800 $ 2.50 October 5, 2020 March 8, 2019 207,200 $ 1.75 March 7, 2021 Total 995,334 The Company may issue warrants to non-employees in capital raising transactions or for services. In accordance with guidance in ASC Topic 718, the cost of warrants issued to non-employees is measured on the grant date based on the fair value. The fair value is determined using the Black-Scholes option pricing model. The resulting amount is charged to expense on the straight-line basis over the period in which the Company expects to receive the benefit, which is generally the vesting period. No warrants were issued for compensation during the period ended September 30, 2020. Non-Controlling Interest The following schedule discloses the effects of changes in the Company’s ownership interest in its subsidiaries on the Company’s equity: For the Nine Months Ended September 30, 2020 Net loss attributable to GSRX Industries Inc. $ (1,686,627 ) Net Loss Attributable to Non-Controlling Interests (192,182 ) Change from net loss attributable to GSRX Industries Inc. and transfers to Non-Controlling Interest $ (1,878,809 )

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2020
Income Tax Disclosure [Abstract]
Income Taxes	4. Income Taxes Deferred income taxes are reported using the liability method. Deferred tax assets are recognized for deductible temporary differences and deferred tax liabilities are recognized for taxable temporary differences. Temporary differences are the differences between the reported amounts of assets and liabilities and their tax bases. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized. Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Final Purchasing Agreements

Final Purchasing Agreements	9 Months Ended
	Sep. 30, 2020
Final Purchasing Agreements
Final Purchasing Agreements	5. Final Purchasing Agreements The Company entered into the Final Purchasing Agreements (“FPA”) The Company operates six dispensaries as follows: Location State/Territory Date Opened Purchase Price Dorado Puerto Rico March 28, 2018 $ 100,000 Fajardo Puerto Rico December 28, 2018 $ 100,000 Carolina Puerto Rico June 1, 2018 $ 100,000 Hato Rey Puerto Rico June 1, 2018 $ 128,000 San Juan Puerto Rico October 2, 2018 $ 75,000 Point Arena California April 2, 2018 $ 350,000 The FPA’s have an indefinite life and are not being amortized.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Related Party Transactions	6. Related Party Transactions The Company entered into executive consulting agreements with its Interim President and Chief Executive Officer (“CEO”) effective as of March 10, 2020, replacing Les Ball. Pursuant to the agreement, the Company agreed to pay the CEO compensation as follows: (i) a monthly cash fee of $25,000; and (ii) a monthly bonus equal to 1% of total gross sales based on all revenues in excess of $1,000,000; and (iii) a signing bonus of $25,000 upon execution of the agreement; and (iv) issued $100,000 of stock based compensation upon execution of the agreement. As of the report date, the stock has not been issued. Effective July 1, 2019, the Company entered into an amended and restated executive consulting agreement with the CFO. Pursuant to the agreement, the Company agreed to compensate the CFO a monthly fee of $15,000. For the nine months ended September 30, 2020, the he former CEO was paid $50,000, the new Interim President and CEO was paid $184,238 and CFO was paid $142,500. On March 11, 2020 Mr. Christian Briggs, Les Ball and Steve Farkas were replaced on the Board of Directors by Troy Nihart and Jeff Rogers. Mr. Briggs had served as Chairman, and was replaced by Mr. Nihart. During the nine months ended September 30, 2020, Mr. Briggs was paid $28,000 as compensation. On April 9, 2018 the Company entered into a consulting agreement with GP Consulting, LLC, an entity owned by Gabrielle Pinto, daughter of Christian Briggs. GP Consulting, LLC, through its employee Gustavo Pinto, serves as the VP of Operations – Puerto Rico (“VP Ops”). Pursuant to the agreement, Gustavo Pinto, and the Company agreed to pay to the VP Ops a monthly fee of $15,000, plus expenses for services and duties customarily performed by and customary to the role of VP Ops. Effective July 1, 2019, the Company entered into an amended and restated executive consulting agreement with the GP Consulting. Pursuant to the agreement, the Company agreed to pay the Executive Chairman compensation as follows: (i) a monthly cash fee of $15,000, payable in accordance with the Company’s standard payroll practices; and (ii) 50,000 restricted shares of the Company’s common stock, par value $0.001 per share, payable quarterly, effective immediately. For the nine months ended September 30, 2020, GP Consulting was paid $105,000. Mr. Pinto resigned on June 1, 2020. On February 28, 2019 the Company, through its wholly owned subsidiary, entered into a long term supply agreement (“Supply Agreement”) Natural Ventures PR, LLC (“Supplier”). Pursuant to the terms of the Supply Agreement, the Supplier agreed to supply a maximum of 300 pounds of medicinal cannabis raw materials and manufactured products to the Company. The Supply Agreement has a term of ten years. Either party may terminate the Supply Agreement with a written thirty (30) day notice. During the nine months ended September 30, 2020 the Company purchased $1,047,128 of product from Natural Ventures Puerto Rico, LLC. As of September 30, 2020 the Company owed NVPR $528,959 for products purchased which is included in accounts payable on the accompanying consolidated balance sheet. On October 11, 2019 the Company sold real estate in Puerto Rico, resulting in net proceeds of $920,402. The proceeds were sent directly to its parent, Chemesis in exchange for a note dated October 11, 2019 and due January 31, 2020, bearing an interest of at Prime plus 1.0% per month. Through May 6, 2020 Chemesis repaid $650,000 on the loan. On May 6, 2020 the Company amended the loan agreement with Chemesis to repay $100,000 of the loan by May 30, 2020 and the balance paid in full by November 6, 2020. As of the date of this report, Chemesis did not make the loan payment of $100,000 due on May 30, 2020 or paid the balance in full by November 6, 2020, but had repaid an additional $77,604 of the advance by September 30, 2020. The Company has placed a Reserve for Collection of the Advance to Parent and Affiliate for the outstanding balance of $192,798 as of September 30, 2020. The current balance due on the note as of the date of this report is $228,798. As of September 30, 2020, the Company advanced $1,605,782 to Natural Ventures Puerto Rico, LLC, a subsidiary of Chemesis as an informal, unsecured, due upon demand advance. The Company has placed a Reserve for Collection of the Advance to Parent and Affiliate for the outstanding balance of $1,605,782 as of September 30, 2020. The current balance of the advance due is $1,663,707. Option to Sell Interest in Project 1493, LLC On May 7, 2020, GSRX Industries Inc. (the “Corporation” or “GSRX”) entered into an option agreement (the “Option Agreement”) with a royalty right with Natural Ventures PR, LLC (“NVPR”) allowing NVPR to acquire 100% of the issued and outstanding membership interest of GSRX’s wholly-owned subsidiary, Project 1493, LLC (the “1493 Membership Interest”). Project 1493, LLC holds all of GSRX’s currently operating and issued Puerto Rican dispensaries and cannabis licenses. Chemesis International Inc. (“Chemesis”) owns an 80% interest in NVPR and is also GSRX’s largest shareholder. The right of NVPR to exercise the option and acquire the 1493 Membership Interest is conditional upon NVPR performing, or causing to be performed by its parent company Chemesis, the following milestones (the “Milestones”) within the applicable timelines set forth below: (a) paying US$25,000 to GSRX (the “Initial Cash Payment”), and (ii) waiving the 36-month leak-out in respect of the 729,187 common shares of Chemesis currently held by GSRX, which Milestones were completed concurrently with the execution and delivery of the Option Agreement (such date, the “Effective Date”); (b) issuing to GSRX 5,190,000 common shares in the capital of Chemesis (the “Chemesis Shares”) within 10 months after the Effective Date. The Chemesis Shares will be subject to a 36-month leak-out schedule; and (c) paying an additional US$2,475,000 to GSRX within 15 months after the Effective Date. Immediately upon NVPR completing, or causing Chemesis to complete, as the case may be, each of the aforementioned Milestones within the respective timelines set out above, NVPR will be deemed to have acquired all of the 1493 Membership Interest (“Exercise of the Option”). Upon Exercise of the Option, NVPR and GSRX shall enter into a royalty agreement (the “Royalty Agreement”), the form of which was negotiated concurrent with the Option Agreement, pursuant to which NVPR shall grant to GSRX a revenues interest royalty and the right to receive payments in respect thereof equal to five percent (5%) of the revenues realized by NVPR from the operations of Project 1493, LLC in Puerto Rico for a period of five years. Prior to the Exercise of the Option, either NVPR or GSRX may terminate the Option Agreement upon delivering notice to the other of its intention to terminate. If GSRX elects to terminate, then NVPR will not acquire the 1493 Membership Interest and GSRX must, as a condition precedent to such election: (i) return all cash payments it received under the terms of the Option Agreement; (ii) return the Chemesis Shares (if any) it received under the terms of the Option Agreement; and (iii) pay to Chemesis a break fee of US$100,000. If NVPR elects to terminate, then NVPR will not acquire the 1493 Membership Interest and GSRX will be entitled to keep the Initial Cash Payment. Subject to termination of the Option Agreement as described above, the term of the Option is 15 months after the Effective Date.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	7. Commitments and Contingencies Lease Commitments The Company leases various facilities under operating leases which expire at various dates through July 2028. Under the terms of the operating lease agreements, the Company is responsible for certain insurance, taxes and common area maintenance expenses. As of January 1, 2019 the Company adopted ASC 842 requiring lessees to record assets and liabilities on the balance sheet. The Company records rent expense on a straight-line basis over the terms of the underlying leases. Lease expense for three months September 30, 2020 and 2019 was $112,140 and $180,316, respectively. Aggregate future lease liability payments under ASC 842 are as follows: Years Endied 2020 $ 506,118 2021 434,217 2022 334,529 2023 240,909 2024 172,528 Thereafter 310,144 Total $ 1,998,445 Risk of Prosecution for Cannabis-Related Companies A company that is connected to the marijuana industry must be aware that cannabis-related companies may be at risk of federal, and perhaps state, criminal prosecution. The Department of Treasury recently issued guidance noting: “The Controlled Substances Act” (“CSA”) makes it illegal under federal law to manufacture, distribute, or dispense cannabis. Many states impose and enforce similar prohibitions. As of September 30, 2020 and February __, 2021 the Company has not been notified of any pending investigations regarding its planned business activities, and is not currently involved in any such investigations with any regulators. California Operating Licenses Effective January 1, 2018 the State of California allowed for adult use cannabis sales. California’s cannabis licensing system is being implemented in two phases. First, beginning on January 1, 2018, the State began issuing temporary licenses. On January 1, 2019 the State ceased issuing temporary licenses and began transitioning 2018 qualifying temporary licenses to provisional and annual license status. Green Spirit Mendocino, LLC holds an annual license which expires April 4, 2021. The license was issued by the Bureau of Cannabis Control (“BCC”) on April 29, 2020. Point Arena Manufacturing, LLC (“PAM”) holds a Non-Volatile Type 6 Manufacturing license was issued a license on May 15, 2020 and expires on May 15, 2021. Point Arena Distribution, LLC holds a Distribution Type 11 provisional license issued by the BCC which expires on June 27, 2021. Although the possession, cultivation and distribution of cannabis for medical and adult use is permitted in California, cannabis is a Schedule-I controlled substance and its use remains a violation of federal law. Since federal law criminalizing the use of cannabis preempts state laws that legalize its use, strict enforcement of federal law regarding cannabis would likely result in our inability to proceed with our business plan, especially in respect of our cannabis cultivation, production and dispensaries. In addition, our assets, including real property, cash, equipment and other goods, could be subject to asset forfeiture because cannabis is still federally illegal.

Legal Proceedings

Legal Proceedings	9 Months Ended
	Sep. 30, 2020
Legal Proceedings
Legal Proceedings	8. On December 30, 2020, the Company was provided a cease and desist letter objecting to the claim that the sale of the Project 1493, LLC assets to Puerto Rico Industrial Commercial Holdings Biotech Corp. had been completed. The Company’s lawyers are considering the merits of the foregoing claim. Litigation On July 14, 2020 notice was served to Pure and Natural One-TN, LLC, Pure and Natural Lakeway, LLC and Thomas Gingerich as defendants in a lawsuit filed by Southwest Legend Investments LLC, a member of the two companies. As of the date of this report, the defendants have supplied requested information to the plaintiff’s attorney. Plaintiff is seeking damages in excess of $200,000 but less than $1,000,000. Nashville Lease – Pure and Natural, LLC On February 8, 2019, Pure and Natural, LLC entered into an operating lease for a 2,525 square foot CBD retail store at 2306 West End Avenue, Nashville, Tennessee for five years beginning February 1, 2019 and ending January 31, 2024. The initial lease obligation was $7,364 per month and a security deposit of $7,364. The lease was terminated with the landlord on July 10, 2020. Under provisions of the mutual settlement and release agreement with the landlord to terminate the lease, the Company paid $54,000 and forfeited the security deposit.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Subsequent Events	9. Green Room Palm Springs LLC On October 16, 2020 the Company sold its 95% interest in Green Room Palm Springs, LLC for $400,000 to Seneca Capital Partners, LP, effectively owned by Christian Briggs, former Executive Chairman of the Board.. Included in the sale was the transfer of the escrow account which held investor funds. The minority investors agreed with the sale, transfer of interest and the transfer of their escrow account. Asset Purchase Agreement to Sell Assets of Project 1493, LLC On November 23, 2020, the Company received a payment of $1,500,000 (the “Payment”) from Puerto Rico Industrial Commercial Holdings Biotech Corp. (“PRICH”) in connection with the purchase to acquire 100% of the assets of GSRX’s wholly-owned subsidiary, Project 1493, LLC (the “1493 Membership Interest”). Project 1493, LLC holds all of GSRX’s currently operating and issued Puerto Rican dispensaries and cannabis licenses. The payment was not subject to any escrow or release conditions. As of the date of this report, the two parties continue negotiations of the terms of the sale. Please see Note 8 for further information. Under Regulation S-X, Article 11, Section 3120, pro forma financial information is required if a disposition either by sale, abandonment or distribution to shareholders has occurred or is probable, and is not fully reflected in the historical financial statements. As such, the Company reports the following represents the financial information with and without Project 1493 Membership’s operating income and expenses: Regulation S-X, Article 11, Section 3120 For the Nine Months Ended September 30, 2020 Statement of Operations As Presented "Consolidated" "Project 1493, LLC" "All Other Companies" "Unaudited" "Unaudited" "Unaudited" Revenues Revenues $ 8,186,907 $ 7,868,836 $ 318,071 Cost of Goods Sold 4,064,517 3,873,498 191,019 Gross Profit 4,122,390 3,995,338 127,052 Operating Expenses Consulting Fees 733,237 322,474 410,763 General and Administrative 2,902,072 2,104,240 797,832 Impairment of fixed assets and construction in progress 388,874 65,235 323,639 Professional Fees 266,668 130,273 136,395 Depreciation Expense 155,451 140,534 14,917 Total Operating Expenses 4,446,302 2,762,756 1,683,546 Income (Loss) from Operations (323,912 ) 1,232,582 (1,556,494 ) Other Income (Expenses) Option fee 25,000 - 25,000 Unrealized gain on investments 25,885 - 25,885 Total Other Income (Expenses) 50,885 - 50,885 Income (Loss) From Operations Before Provision for Income Taxes (273,027 ) 1,232,582 (1,505,609 ) Provision for Income Taxes (Note 4) - - - Net Income (Loss) (273,027 ) 1,232,582 (1,505,609 )

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The consolidated financial statements included herein have been prepared by the Company, without audit, pursuant to the rules and regulations of the Securities and Exchange Commission. Certain information and footnote disclosures normally included in financial statements prepared in accordance with U.S. generally accepted accounting principles have been omitted. However, in the opinion of management, all adjustments (which include only normal recurring adjustments, unless otherwise indicated) necessary to present fairly the consolidated financial position and results of its operations for the periods presented have been made. The results for interim periods are not necessarily indicative of trends or of results to be expected for the full year. These consolidated financial statements should be read in conjunction with the financial statements of the Company for the year ended December 31, 2019 (including the notes thereto) set forth in Form 10-K filed with the Securities and Exchange Commission on June 11, 2020.
Principles of Consolidation	Principles of Consolidation The consolidated financial statements through September 30, 2020 include the accounts of the Company and the following entities, all of which have fiscal year ends of December 31. (Note 1). ● 100% owned subsidiary, Project 1493, LLC; ● 100% owned subsidiary, Andalucia 511, LLC; ● 51% majority owned subsidiary, Spirulinex, LLC; ● 55% majority owned subsidiary, Sunset Connect Oakland, LLC; ● 55% majority owned, Green Spirit Essentials, LLC; ● 100% owned subsidiary, Green Spirit Mendocino, LLC; and ● 100% owned subsidiary, 138 Main Street PA, LLC. ● 100% owned subsidiary, GSRX SUPES, LLC ● 100% owned subsidiary, Point Arena Supply Co., LLC ● 100% owned subsidiary, Ukiah Supply Company, LLC ● 100% owned subsidiary, Pure and Natural, LLC ● 94% owned subsidiary, Point Arena Manufacturing, LLC ● 100% owned subsidiary, Point Arena Distribution, LLC ● 51% majority owned subsidiary, Pure and Natural-Lakeway, LLC ● 51% majority owned subsidiary, Pure and Natural One-TN, LLC ● 95% owned subsidiary, Green Room Palm Springs, LLC All intercompany transactions have been eliminated in the consolidated financial statements.
Use of Estimates and Assumptions	Use of Estimates and Assumptions The preparation of the consolidated financial statements that are in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all cash on hand, cash in banks and all highly liquid debt instruments purchased with a maturity of three months at purchase or less to be cash and cash equivalents. At times, cash and cash equivalent balances at a limited number of banks and financial institutions may exceed insurable amounts. At September 30, 2020 the Company had $278,570 in excess of FDIC depository insurance coverage. In the Company’s Puerto Rico operations, the Company holds cash from sales in multiple safes. The cash is used to pay vendors and certain taxes required to be paid with cash. The Company deposits cash into bank from safes when vendors require payment by check. As of September 30, 2020, the Company held approximately $68,000 in safes. Cash held in escrow, in the name of the Company, is held by Gunnison Bank (“Gunnison”). The escrow account was established to hold the deposits from the sale of equity in subsidiaries and hold funds for businesses under subscription agreements. There are no restrictions on the funds held by Gunnison on the Company’s behalf.
Investments, Fair Value	Investments, fair value On March 30, 2019 the Company entered into a Share Exchange Agreement (the “Share Agreement”) and an Ancillary Rights Agreement (the “Ancillary Agreement”) with Chemesis International Inc., a British Columbian Corporation (“CADMF”). In the Share Agreement, the Company received 7,291,874 pre-split, restricted shares of common stock of CADMF initial fair value. On December 20, 2019 CADMF completed a reverse 1:10 stock split, reducing the shares held to 729,187. Fair value of the investment as of September 30, 2020 was $258,132. CADMF is quoted on the OTCQB market and closed on Wednesday, September 30, 2020 at $0.354 per share.
Investments, Cost Method	Investments, cost method Pure and Natural, LLC made a $50,000 investment on January 4, 2019 for a 10% equity and profits interest in The Zen Stop, LLC. The Zen Stop is a mobile wellness business called “ Zen Stop.” Pure and Natural, LLC purchased 25,167 membership units in Buzznog, LLC for $20,000 on March 6, 2019. The investment is carried at the cost basis as it is a private company and fair value cannot be determined.
Revenue Recognition	Revenue Recognition The Company recognizes revenue at an amount that reflects the consideration that the Company expects to be entitled to receive in exchange for transferring goods or services to its customers. The Company’s policy is to record revenue when control of the goods transfers to the customer. In limited instances when products are sold under consignment arrangements, the Company does not recognize revenue until control over such products has transferred to the end consumer. The Company incurs costs associated with product distribution, such as freight and handling costs. The Company has elected to treat these costs as fulfillment activities and recognizes these costs at the same time that it recognizes the underlying product revenue. The following table presents the Company’s revenues disaggregated by type and by state/territory: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues by Type Wholesale $ 1,373 $ 852 $ 2,191 $ 51,180 Retail 2,744,585 2,756,306 8,184,716 9,011,282 Total $ 2,745,958 $ 2,757,158 $ 8,186,907 $ 9,062,462 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues by State/Territory California $ 110,064 $ 175,810 $ 303,163 $ 409,803 Tennessee - 12,814 10,113 38,479 Texas 1,373 2,648 4,795 90,915 Puerto Rico 2,634,521 2,565,886 7,868,836 8,523,265 Total $ 2,745,958 $ 2,757,158 $ 8,186,907 $ 9,062,462
Accounts Receivable	Accounts Receivable The Company carries its accounts receivable at their estimated realizable amounts and periodically evaluates the credit condition of its customers. The allowance for uncollectible accounts receivable is based on the Company’s historical bad debt experience and on management’s evaluation of collectability of the individual outstanding balances. As of September 30, 2020, the Company had not identified any uncollectible accounts.
Advance to Parent and Affiliate	Advance to Parent and Affiliate On October 11, 2019 the Company sold real estate in Puerto Rico, resulting in net proceeds of $920, 402. The Company advanced the proceeds to its parent, Chemesis in exchange for a note due January 31, 2020, bearing an interest of at Prime plus 1.0% per month. Through May 6, 2020 Chemesis repaid $650,000 on the loan. On May 6, 2020 the Company amended the loan agreement with Chemesis to repay $100,000 of the loan by May 30, 2020 and the balance paid in full by November 6, 2020. As of the date of this report, Chemesis did not make the loan payment of $100,000 due on May 30, 2020 or the balance in full due by November 6, 2020, but had repaid an additional $77,604 of the advance by September 30, 2020. The Company has placed a Reserve for Collection of the Advance to Parent and Affiliate for the outstanding balance of $192,798 as of September 30, 2020. The current balance due on the note as of the date of this report is $228,798. As of September 30, 2020, the Company advanced $1,605,782 to Natural Ventures Puerto Rico, LLC (“NVPR”), a subsidiary of Chemesis as an informal, unsecured, due upon demand advance. The Company has placed a Reserve for Collection of the Advance to Parent and Affiliate for the outstanding balance of $1,605,782 as of September 30, 2020. The current balance of the advance due as of the date of this report is $1,663,707.
Inventory	Inventory The Company’s inventory is stated at the lower of cost or market, determined by the first-in, first-out (“FIFO”) method. Inventory consists of cannabis products, such as flower, edibles, creams, oils and cannabis accessories as pipes, bowls and cartridges; and CBD products, such as soft gels, tinctures, balms, pain cream and vape pens. Inventory is comprised of the following items: As of As of September 30, December 31, 2020 2019 Finished goods – flower $ 128,103 $ 135,074 Finished goods – cannabis products 405,167 195,311 Finished goods – CBD products 78,617 111,931 Total $ 611,887 $ 442,316
Fixed Assets	Fixed Assets Fixed assets are recorded at cost and are depreciated using the straight-line method over estimated useful lives as follows: Type of Asset Estimated Life Furniture, Fixtures and Equipment 5 – 10 years Building and Leasehold improvements 5 - 25 years
Share Based Compensation	Share based Compensation Compensation cost relating to share-based payment transactions (including the cost of all employee stock options) is required to be recognized in the consolidated financial statements and covers a wide range of share-based compensation arrangements including share options, restricted share plans, performance-based awards, share appreciation rights, and employee share purchase plans. That cost is measured based on the estimated fair value of the equity or liability instruments issued. (See Note 3).
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying value of the Company’s current liabilities approximates fair value because of the short maturity of these instruments. Unless otherwise noted, it is management’s opinion the Company is not exposed, except for cash balances in excess of the FDIC depository insurance coverage, to significant interest, currency or credit risks arising from these financial instruments.
Income Taxes	Income Taxes The Company follows the accrual method of accounting for income taxes. Under this method, deferred income tax assets and liabilities are recognized for the estimated tax consequences attributable to differences between the financial statement carrying values and their respective income tax basis (temporary differences). The effect on the deferred income tax assets and liabilities of a change in tax rates is recognized in income in the period that includes the enactment date. The Company was organized under the laws of Nevada and therefore will be taxed at statutory U.S. federal corporate income tax rates.
Basic Earnings Per Share	Basic Earnings per Share The Company computes net income (loss) per share in accordance with FASB ASC 260 “Earnings per Share”, which specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock. Basic net income (loss) per share amounts are computed by dividing the net loss by the weighted average number of common shares outstanding. Potentially dilutive securities have been excluded from the Company’s earnings per share calculation due to the exercise price being significantly higher than current market price of the Company’s shares. The total number of potentially dilutive securities which have been excluded is 995,334. (Note 3).
Recent Accounting Pronouncements	Recent Accounting Pronouncements As of June 30, 2020 and through February 12, 2021 there were several new accounting pronouncements issued by the Financial Accounting Standards Board. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe the adoption of any of these accounting pronouncements has had or will have a material impact on the Company’s financial position or future operating results. The Company will monitor these emerging issues to assess any potential future impact on its financial statements.

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2020
Accounting Policies [Abstract]
Schedule of Revenues Disaggregated by Type and by State/Territory	The following table presents the Company’s revenues disaggregated by type and by state/territory: For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues by Type Wholesale $ 1,373 $ 852 $ 2,191 $ 51,180 Retail 2,744,585 2,756,306 8,184,716 9,011,282 Total $ 2,745,958 $ 2,757,158 $ 8,186,907 $ 9,062,462 For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues by State/Territory California $ 110,064 $ 175,810 $ 303,163 $ 409,803 Tennessee - 12,814 10,113 38,479 Texas 1,373 2,648 4,795 90,915 Puerto Rico 2,634,521 2,565,886 7,868,836 8,523,265 Total $ 2,745,958 $ 2,757,158 $ 8,186,907 $ 9,062,462
Schedule of Inventory	Inventory is comprised of the following items: As of As of September 30, December 31, 2020 2019 Finished goods – flower $ 128,103 $ 135,074 Finished goods – cannabis products 405,167 195,311 Finished goods – CBD products 78,617 111,931 Total $ 611,887 $ 442,316
Schedule of Fixed Assets Estimated Useful Lives	Fixed assets are recorded at cost and are depreciated using the straight-line method over estimated useful lives as follows: Type of Asset Estimated Life Furniture, Fixtures and Equipment 5 – 10 years Building and Leasehold improvements 5 - 25 years

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2020
Stockholders' Equity Note [Abstract]
Schedule of Issuance of Warrants	Each Warrant represents the right to purchase one share of common stock at various exercise prices per share for a period of two (2) or three (3) years from the date of issuance. Warrants Issued Exercise Price Expiration Date February 23, 2018 232,334 $ 6.00 February 23, 2021 October 5, 2018 517,800 $ 2.50 October 5, 2020 March 8, 2019 207,200 $ 1.75 March 7, 2021 Total 995,334
Schedule of Effects of Changes in Ownership Interest	The following schedule discloses the effects of changes in the Company’s ownership interest in its subsidiaries on the Company’s equity: For the Nine Months Ended September 30, 2020 Net loss attributable to GSRX Industries Inc. $ (1,686,627 ) Net Loss Attributable to Non-Controlling Interests (192,182 ) Change from net loss attributable to GSRX Industries Inc. and transfers to Non-Controlling Interest $ (1,878,809 )

Final Purchasing Agreements (Ta

Final Purchasing Agreements (Tables)	9 Months Ended
	Sep. 30, 2020
Final Purchasing Agreements
Schedule of Purchase Price FPA	The Company operates six dispensaries as follows: Location State/Territory Date Opened Purchase Price Dorado Puerto Rico March 28, 2018 $ 100,000 Fajardo Puerto Rico December 28, 2018 $ 100,000 Carolina Puerto Rico June 1, 2018 $ 100,000 Hato Rey Puerto Rico June 1, 2018 $ 128,000 San Juan Puerto Rico October 2, 2018 $ 75,000 Point Arena California April 2, 2018 $ 350,000

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
Schedule of Aggregate Future Lease Liability Payments	Aggregate future lease liability payments under ASC 842 are as follows: Years Endied 2020 $ 506,118 2021 434,217 2022 334,529 2023 240,909 2024 172,528 Thereafter 310,144 Total $ 1,998,445

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
Schedule of Pro Forma Financial Information	As such, the Company reports the following represents the financial information with and without Project 1493 Membership’s operating income and expenses: Regulation S-X, Article 11, Section 3120 For the Nine Months Ended September 30, 2020 Statement of Operations As Presented "Consolidated" "Project 1493, LLC" "All Other Companies" "Unaudited" "Unaudited" "Unaudited" Revenues Revenues $ 8,186,907 $ 7,868,836 $ 318,071 Cost of Goods Sold 4,064,517 3,873,498 191,019 Gross Profit 4,122,390 3,995,338 127,052 Operating Expenses Consulting Fees 733,237 322,474 410,763 General and Administrative 2,902,072 2,104,240 797,832 Impairment of fixed assets and construction in progress 388,874 65,235 323,639 Professional Fees 266,668 130,273 136,395 Depreciation Expense 155,451 140,534 14,917 Total Operating Expenses 4,446,302 2,762,756 1,683,546 Income (Loss) from Operations (323,912 ) 1,232,582 (1,556,494 ) Other Income (Expenses) Option fee 25,000 - 25,000 Unrealized gain on investments 25,885 - 25,885 Total Other Income (Expenses) 50,885 - 50,885 Income (Loss) From Operations Before Provision for Income Taxes (273,027 ) 1,232,582 (1,505,609 ) Provision for Income Taxes (Note 4) - - - Net Income (Loss) (273,027 ) 1,232,582 (1,505,609 )

Summary of Significant Accoun_4

Summary of Significant Accounting Policies (Details Narrative) - USD ($)	May 06, 2020	Dec. 20, 2019	Oct. 11, 2019	Mar. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Mar. 06, 2019	Jan. 04, 2019
Liquid debt instruments, maturity period					3 months
Excess of FDIC depository insurance coverage					$ 278,570
Cash in bank					68,000
Investment					$ 258,132		$ 232,247
Quoted price per share					$ 0.354
Cost method investment					$ 70,000		$ 70,000
Proceeds from related party			$ 920,402
Debt instrument maturity date			Jan. 31, 2020
Debt instrument, interest rate			1.00%
Additional advance payment					1,663,707
Reserve for collection of Advance to Parent and Affiliate					$ (1,798,580)
Potentially dilutive securities					995,334
Share Exchange and Ancillary Rights Agreements [Member] | Pre-Split Restricted Shares [Member]
Number of shares received upon share split				7,291,874
Share Exchange and Ancillary Rights Agreements [Member] | Pre-Split Restricted Shares [Member] | Chemesis International Inc., a British Columbian Corporation [Member]
Number of shares received upon share split		729,187
Reverse stock split		On December 20, 2019 CADMF completed a reverse 1:10 stock split, reducing the shares held to 729,187.
Project 1493, LLC [Member]
Ownership percentage					100.00%
Andalucia 511, LLC [Member]
Ownership percentage					100.00%
Spirulinex, LLC [Member]
Ownership percentage					51.00%
Sunset Connect Oakland, LLC [Member]
Ownership percentage					55.00%
Green Spirit Essentials, LLC [Member]
Ownership percentage					55.00%
Green Spirit Mendocino, LLC [Member]
Ownership percentage					100.00%
138 Main Street PA, LLC [Member]
Ownership percentage					100.00%
GSRX SUPES, LLC [Member]
Ownership percentage					100.00%
Point Arena Supply Co., LLC [Member]
Ownership percentage					100.00%
Ukiah Supply Company, LLC [Member]
Ownership percentage					100.00%
Pure and Natural, LLC [Member]
Ownership percentage					100.00%
Cost method investment									$ 50,000
Number of membership units purchased								25,167
Number of membership units purchased, value								$ 20,000
Point Arena Manufacturing, LLC [Member]
Ownership percentage					94.00%
Point Arena Distribution, LLC [Member]
Ownership percentage					100.00%
Pure and Natural-Lakeway, LLC [Member]
Ownership percentage					51.00%
Pure and Natural One-TN, LLC [Member]
Ownership percentage					51.00%
Green Room Palm Springs, LLC [Member]
Ownership percentage					95.00%
The Zen Stop, LLC [Member]
Ownership percentage									10.00%
Chemesis International, Inc. [Member]
Repayment of related party debt	$ 650,000
Debt instrument, description					Chemesis did not make the loan payment of $100,000 due on May 30, 2020 or the balance in full due by November 6, 2020, but had repaid an additional $77,604 of the advance by September 30, 2020.
Additional advance payment					$ 77,604
Reserve for collection of Advance to Parent and Affiliate					192,798
Due to related party current					228,798
Chemesis International, Inc. [Member] | Amended Loan Agreement [Member]
Repayment of related party debt	$ 100,000
Debt instrument, description	The Company amended the loan agreement with Chemesis to repay $100,000 of the loan by May 30, 2020 and the balance paid in full by November 6, 2020.
Natural Ventures Puerto Rico, LLC [Member]
Additional advance payment					1,605,782
Reserve for collection of Advance to Parent and Affiliate					$ 1,605,782

Summary of Significant Accoun_5

Summary of Significant Accounting Policies - Schedule of Revenues Disaggregated by Type and by State/Territory (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenue	$ 2,745,958	$ 2,757,158	$ 8,186,907	$ 9,062,462
California [Member]
Revenue	110,064	175,810	303,163	409,803
Tennessee [Member]
Revenue		12,814	10,113	38,479
Texas [Member]
Revenue	1,373	2,648	4,795	90,915
Puerto Rico [Member]
Revenue	2,634,521	2,565,886	7,868,836	8,523,265
Wholesale [Member]
Revenue	1,373	852	2,191	51,180
Retail [Member]
Revenue	$ 2,744,585	$ 2,756,306	$ 8,184,716	$ 9,011,282

Summary of Significant Accoun_6

Summary of Significant Accounting Policies - Schedule of Inventory (Details) - USD ($)	Sep. 30, 2020	Dec. 31, 2019
Total Inventory	$ 611,887	$ 442,316
Finished Goods - Flower [Member]
Total Inventory	128,103	135,074
Finished Goods - Cannabis Products [Member]
Total Inventory	405,167	195,311
Finished Goods - CBD Products [Member]
Total Inventory	$ 78,617	$ 111,931

Summary of Significant Accoun_7

Summary of Significant Accounting Policies - Schedule of Fixed Assets Estimated Useful Lives (Details)	9 Months Ended
	Sep. 30, 2020
Furniture, Fixtures and Equipment [Member] | Minimum [Member]
Fixed assets estimated useful lives	5 years
Furniture, Fixtures and Equipment [Member] | Maximum [Member]
Fixed assets estimated useful lives	10 years
Building and Leasehold Improvements [Member] | Minimum [Member]
Fixed assets estimated useful lives	5 years
Building and Leasehold Improvements [Member] | Maximum [Member]
Fixed assets estimated useful lives	25 years

Equity (Details Narrative)

Equity (Details Narrative) - shares	9 Months Ended
	Sep. 30, 2020	Mar. 08, 2019	Oct. 05, 2018	Feb. 23, 2018
Warrants to purchase shares	6,995,796	207,200	517,800	232,334
Warrants [Member]
Share issued share based compensation
Minimum [Member]
Warrant term	2 years
Maximum [Member]
Warrant term	3 years
Series A Preferred Stock [Member]
Preferred stock, voting percentage	51.00%

Equity - Schedule of Issuance o

Equity - Schedule of Issuance of Warrants (Details) - $ / shares	Sep. 30, 2020	Mar. 08, 2019	Oct. 05, 2018	Feb. 23, 2018
Stockholders' Equity Note [Abstract]
Warrants Issued	6,995,796	207,200	517,800	232,334
Warrant Exercise Price		$ 1.75	$ 2.50	$ 6
Warrant Expiration Date		Mar. 7, 2021	Oct. 5, 2020	Feb. 23, 2021

Equity - Schedule of Effects of

Equity - Schedule of Effects of Changes in Ownership Interest (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Net loss attributable to GSRX Industries Inc.	$ (2,238,780)	$ (24,013,590)	$ (1,686,627)	$ (29,296,396)
Net Loss Attributable to Non-Controlling Interests	(155,744)	(34,001)	(192,182)	(512,819)
Change from net loss attributable to GSRX Industries Inc. and transfers to Non-Controlling Interest	$ (2,394,524)	$ (24,047,591)	$ (1,878,809)	$ (29,809,215)

Final Purchasing Agreements - S

Final Purchasing Agreements - Schedule of Purchase Price FPA (Details)	9 Months Ended
	Sep. 30, 2020USD ($)
Dorado [Member]
State/Territory	Puerto Rico
Date Opened	Mar. 28, 2018
Purchase Price	$ 100,000
Fajardo [Member]
State/Territory	Puerto Rico
Date Opened	Dec. 28, 2018
Purchase Price	$ 100,000
Carolina [Member]
State/Territory	Puerto Rico
Date Opened	Jun. 1, 2018
Purchase Price	$ 100,000
Hato Rey [Member]
State/Territory	Puerto Rico
Date Opened	Jun. 1, 2018
Purchase Price	$ 128,000
San Juan [Member]
State/Territory	Puerto Rico
Date Opened	Oct. 2, 2018
Purchase Price	$ 75,000
Point Arena [Member]
State/Territory	California
Date Opened	Apr. 2, 2018
Purchase Price	$ 350,000

Related Party Transactions (Det

Related Party Transactions (Details Narrative)	May 07, 2020USD ($)shares	May 06, 2020USD ($)	Oct. 11, 2019USD ($)	Jul. 02, 2019USD ($)$ / sharesshares	Feb. 28, 2019Pound	Apr. 09, 2018USD ($)	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)$ / shares	Sep. 30, 2019USD ($)	Dec. 31, 2019$ / shares
Revenues							$ 2,745,958	$ 2,757,158	$ 8,186,907	$ 9,062,462
Stock based compensation								$ 16,876,800		19,116,694
Common stock, par value | $ / shares							$ 0.001		$ 0.001		$ 0.001
Proceeds from related party			$ 920,402
Debt instrument maturity date			Jan. 31, 2020
Debt instrument, interest rate			1.00%
Additional advance payment									$ 1,663,707
Reserve for collection of Advance to Parent and Affiliate									$ (1,798,580)
Chemesis International, Inc. [Member]
Repayment of related party debt		$ 650,000
Debt instrument, description									Chemesis did not make the loan payment of $100,000 due on May 30, 2020 or the balance in full due by November 6, 2020, but had repaid an additional $77,604 of the advance by September 30, 2020.
Additional advance payment									$ 77,604
Reserve for collection of Advance to Parent and Affiliate									192,798
Due to related party current							$ 228,798		228,798
Natural Ventures Puerto Rico, LLC [Member]
Additional advance payment									1,605,782
Reserve for collection of Advance to Parent and Affiliate									1,605,782
Interim President and Chief Executive Officer [Member]
Compensation paid									184,238
Chief Executive Officer [Member]
Compensation paid									50,000
Chief Financial Officer [Member]
Compensation paid									142,500
Mr. Briggs [Member]
Compensation paid									28,000
Mr. Pinto [Member] | GP Consulting, LLC [Member]
Stock based compensation									105,000
Executive Consulting Agreements [Member] | Interim President and Chief Executive Officer [Member]
Compensation paid									$ 25,000
Bonus percentage									1.00%
Revenues									$ 1,000,000
Bonus amount									25,000
Stock based compensation									100,000
Amended and Restated Executive Consulting Agreement [Member] | Chief Executive Officer [Member]
Compensation paid				$ 15,000
Amended and Restated Executive Consulting Agreement [Member] | Executive Chairman [Member] | GP Consulting [Member]
Compensation paid				$ 15,000
Amended and Restated Executive Consulting Agreement [Member] | Executive Chairman [Member] | GP Consulting [Member] | Restricted Shares [Member]
Number of restricted shares issued | shares				50,000
Common stock, par value | $ / shares				$ 0.001
Consulting Agreement [Member] | GP Consulting, LLC [Member]
Compensation paid						$ 15,000
Supply Agreement [Member] | Natural Ventures Puerto Rico LLC [Member]
Raw materials | Pound					300
Agreement term					10 years
Materials purchase amount									1,047,128
Product purchased							$ 528,959		$ 528,959
Amended Loan Agreement [Member] | Chemesis International, Inc. [Member]
Repayment of related party debt		$ 100,000
Debt instrument, description		The Company amended the loan agreement with Chemesis to repay $100,000 of the loan by May 30, 2020 and the balance paid in full by November 6, 2020.
Option Agreement [Member] | Natural Ventures Puerto Rico LLC [Member]
Ownership percentage	100.00%
Milestones payment term description	(a) paying US$25,000 to GSRX (the "Initial Cash Payment"), and (ii) waiving the 36-month leak-out in respect of the 729,187 common shares of Chemesis currently held by GSRX, which Milestones were completed concurrently with the execution and delivery of the Option Agreement (such date, the "Effective Date"); (b) issuing to GSRX 5,190,000 common shares in the capital of Chemesis (the "Chemesis Shares") within 10 months after the Effective Date. The Chemesis Shares will be subject to a 36-month leak-out schedule; and (c) paying an additional US$2,475,000 to GSRX within 15 months after the Effective Date.
Cash	$ 25,000
Number of common stock shares issued | shares	729,187
Option Agreement [Member] | Natural Ventures Puerto Rico LLC [Member] | Within 10 Months [Member]
Number of common stock shares issued | shares	5,190,000
Option Agreement [Member] | Natural Ventures Puerto Rico LLC [Member] | Within 15 Months [Member]
Cash	$ 2,475,000
Option Agreement [Member] | Chemesis International, Inc. [Member]
Payment for break fee	$ 100,000
Option Agreement [Member] | Chemesis International, Inc. [Member]
Ownership percentage	80.00%
Royalty Agreement [Member] | Natural Ventures Puerto Rico LLC [Member]
Royalty percentage	5.00%

Commitments and Contingencies_2

Commitments and Contingencies (Details Narrative) - USD ($)	Jan. 02, 2018	Sep. 30, 2020	Sep. 30, 2019
Lease expense		$ 112,140	$ 180,316
Green Spirit Mendocino, LLC [Member]
License expiration date	Apr. 4, 2021
Point Arena Manufacturing, LLC [Member]
License expiration date	May 15, 2021
Point Arena Distribution, LLC [Member]
License expiration date	Jun. 27, 2020

Commitments and Contingencies -

Commitments and Contingencies - Schedule of Aggregate Future Lease Liability Payments (Details)	Sep. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
2020	$ 506,118
2021	434,217
2022	334,529
2023	240,909
2024	172,528
Thereafter	310,144
Total	$ 1,998,445

Legal Proceedings (Details Narr

Legal Proceedings (Details Narrative)	Jul. 14, 2020USD ($)	Feb. 08, 2019USD ($)ft²	Sep. 30, 2020USD ($)
Initial lease obligation			$ 1,998,445
Nashville Lease [Member] | Pure and Natural, LLC [Member]
Number of square foot | ft²		2,525
Initial lease obligation		$ 7,364
Security deposit		$ 7,364
Lease termination date		Jul. 10, 2020
Mutual Settlement and Release Agreement [Member]
Security deposit		$ 54,000
Minimum [Member]
Plaintiff seeking damages	$ 200,000
Maximum [Member]
Plaintiff seeking damages	$ 1,000,000

Subsequent Events (Details Narr

Subsequent Events (Details Narrative) - Subsequent Event [Member] - USD ($)	Nov. 23, 2020	Oct. 16, 2020
Puerto Rico Industrial Commercial Holdings Biotech Corp. [Member]
Subsequent Event [Line Items]
Payments of acquisition	$ 1,500,000
Acquisition percentage	100.00%
Green Room Palm Springs, LLC [Member]
Subsequent Event [Line Items]
Sale of stock interest		95.00%
Sale of stock value		$ 400,000

Subsequent Events - Schedule of

Subsequent Events - Schedule of Pro Forma Financial Information (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Impairment of fixed assets and construction in progress	$ 300,631		$ 388,874
Option fee			25,000
As Presented "Consolidated" [Member]
Revenues			8,186,907
Cost of Goods Sold			4,064,517
Gross Profit			4,122,390
Consulting Fees			733,237
General and Administrative			2,902,072
Impairment of fixed assets and construction in progress			388,874
Professional Fees			266,668
Depreciation Expense			155,451
Total Operating Expenses			4,446,302
Income (Loss) from Operations			(323,912)
Option fee			25,000
Unrealized gain on investments			25,885
Total Other Income (Expenses)			50,885
Provision for Income Taxes			(273,027)
Provision for Income Taxes (Note 4)
Net Income (Loss)			(273,027)
"Project 1493, LLC" Statement of Operations [Member]
Revenues			7,868,836
Cost of Goods Sold			3,873,498
Gross Profit			3,995,338
Consulting Fees			322,474
General and Administrative			2,104,240
Impairment of fixed assets and construction in progress			65,235
Professional Fees			130,273
Depreciation Expense			140,534
Total Operating Expenses			2,762,756
Income (Loss) from Operations			1,232,582
Option fee
Unrealized gain on investments
Total Other Income (Expenses)
Provision for Income Taxes			1,232,582
Provision for Income Taxes (Note 4)
Net Income (Loss)			1,232,582
"All Other Companies" [Member]
Revenues			318,071
Cost of Goods Sold			191,019
Gross Profit			127,052
Consulting Fees			410,763
General and Administrative			797,832
Impairment of fixed assets and construction in progress			323,639
Professional Fees			136,395
Depreciation Expense			14,917
Total Operating Expenses			1,683,546
Income (Loss) from Operations			(1,556,494)
Option fee			25,000
Unrealized gain on investments			25,885
Total Other Income (Expenses)			50,885
Provision for Income Taxes			(1,505,609)
Provision for Income Taxes (Note 4)
Net Income (Loss)			$ (1,505,609)