LFTD Partners (LIFD) 10-Q 12 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 12, 2015
Document and Entity Information:
Entity Registrant Name	ACQUIRED SALES CORP
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Entity Central Index Key	1,391,135
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		2,269,648
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Trading Symbol	aqsp

CONDENSED BALANCE SHEETS (UNAUD

CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 216,694	$ 587,937
Prepaid expenses		7,985
Total Current Assets	216,694	595,922
Note receivable	697,450	602,500
Interest receivable	79,701	35,926
Total Assets	993,845	1,234,348
Current Liabilities
Trade accounts payable	51,675	24,982
Total Liabilities	$ 51,675	$ 24,982
Shareholders' Equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none outstanding
Common stock, $0.001 par value; 100,000,000 shares authorized; 2,269,648 shares outstanding	$ 2,270	$ 2,270
Additional paid-in capital	13,554,524	13,554,524
Accumulated deficit	(12,614,624)	(12,347,428)
Total Shareholders' Equity	942,170	1,209,366
Total Liabilities and Shareholders' Equity	$ 993,845	$ 1,234,348

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position
Common Stock, par or stated value	$ 0.001	$ 0.001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares outstanding	2,269,648	2,269,648
Preferred Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Preferred Stock, shares issued
Preferred Stock, shares outstanding

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Statement
Selling, General and Administrative Expense	$ (73,868)	$ (72,233)	$ (313,239)	$ (147,579)
Interest Income	23,897		43,776
Other Income		8,321	2,267	16,263
Loss from Continuing Operations	(49,971)	(63,912)	(267,196)	(131,316)
Net Income (Loss)	$ (49,971)	$ (63,912)	$ (267,196)	$ (131,316)
Basic and Diluted Earnings (Loss) per Share
Continuing Operations	$ (0.02)	$ (0.03)	$ (0.12)	$ (0.06)
Net Income (Loss) per Share	$ (0.02)	$ (0.03)	$ (0.12)	$ (0.06)

CONDENSED STATEMENTS OF SHAREHO

CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
Stockholders' Equity beginning of period, Value at Dec. 31, 2013	$ 2,270	$ 8,410,295	$ (7,026,157)	$ 1,386,408
Stockholders' Equity beginning of period, Shares at Dec. 31, 2013	2,269,648
Net income (loss)			(131,316)	(131,316)
Stockholders' Equity, end of period, Value at Jun. 30, 2014	$ 2,270	8,410,295	(7,157,473)	1,255,092
Stockholders' Equity, end of period, Shares at Jun. 30, 2014	2,269,648
Stockholders' Equity beginning of period, Value at Dec. 31, 2014	$ 2,270	13,554,524	(12,347,428)	1,209,366
Stockholders' Equity beginning of period, Shares at Dec. 31, 2014	2,269,648
Net income (loss)			(267,196)	(267,196)
Stockholders' Equity, end of period, Value at Jun. 30, 2015	$ 2,270	$ 13,554,524	$ (12,614,624)	$ 942,170
Stockholders' Equity, end of period, Shares at Jun. 30, 2015	2,269,648

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities
Net income (loss)	$ (267,196)	$ (131,316)
Changes in operating assets and liabilities:
Prepaid expenses	7,985
Accrued interest receivable	(43,775)
Accounts payable	26,693	5,000
Net cash used in operating activities of continuing operations	(276,293)	(126,316)
Net Cash Used in Operating Activities	(276,293)	(126,316)
Cash Flows from Investing Activities
Proceeds from sale of discontinued operations, net of cash sold		1,000,000
Note receivable	(94,950)
Net Cash Provided by (Used in) Investing Activities	(94,950)	1,000,000
Cash Flow from Financing Activities
Payment of obligation under stock repurchase		(20,000)
Net Cash Used in Financing Activities of Continuing Operations		(20,000)
Net Increase (Decrease) in Cash	(371,243)	853,684
Cash and Cash Equivalents at Beginning of Period	587,937	427,294
Cash and Cash Equivalents at End of Period	$ 216,694	$ 1,280,978

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Significant Accounting Policies	6 Months Ended
	Jun. 30, 2015
Notes
Note 1 - Basis of Presentation and Significant Accounting Policies	NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation – On January 12, 2013, Acquired Sales entered into an agreement with Drumright Group, LLC (“Drumright”) that was closed on February 11, 2013, wherein Acquired Sales sold 100% of the capital stock of Cogility Software Corporation (“Cogility”) to Drumright. Cogility’s results of operations have been reclassified as discontinued operations. Condensed Financial Statements Principles of Consolidation Use of Estimates Basic and Diluted Earnings (Loss) Per Common Share The following table summarizes the calculations of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2015 and 2014. For the Three Months For the Six Months Ended Ended June 30, June 30, 2015 2014 2015 2014 Loss from Continuing Operations $(49,971) $(63,912) $(267,196) $(131,316) Net Income (Loss) $(49,971) $(63,912) $(267,196) $(131,316) Weighted -Average Shares Outstanding 2,269,648 2,269,648 2,269,648 2,269,648 Basic and Diluted Earnings (Loss) per Share Continuing Operations $(0.02) $(0.03) $(0.12) $(0.06) Basic and Diluted Earnings (Loss) per Share $(0.02) $(0.03) $(0.12) $(0.06) There were 6,198,774 employee stock options and 938,000 warrants outstanding during the three and six months ended June 30, 2015 that were excluded from the computation of diluted earnings (loss) per share because their effects would have been anti-dilutive. There were 2,148,774 employee stock options and 938,000 warrants outstanding during the three and six months ended June 30, 2014 that were excluded from the computation of diluted earnings (loss) per share because their effects would have been anti-dilutive. Recent Accounting Pronouncements In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation (Topic 718)-Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force). ASU No. 2014-12 requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. The effective date will be the first quarter of fiscal year 2016. The Company has not determined the potential effects on the financial statements.

Note 2 - Risks and Uncertaintie

Note 2 - Risks and Uncertainties	6 Months Ended
	Jun. 30, 2015
Notes
Note 2 - Risks and Uncertainties	NOTE 2 - RISKS AND UNCERTAINTIES Going Concern – Management plans to sustain the Company as a going concern by taking the following actions: (1) acquiring and/or developing profitable businesses that will create positive income from operations; (2) acquiring valuable real estate in exchange for common stock and/or preferred stock; and/or (3) completing private placements of our common stock and/or preferred stock. Management believes that by taking these actions, the Company will be provided with sufficient future operations and cash flow to continue as a going concern. However, there can be no assurance that the Company will be successful in consummating such actions on acceptable terms, if at all. Moreover, any such actions can be expected to result in substantial dilution to the existing shareholders of the Company.

Note 3 - Note Receivable

Note 3 - Note Receivable	6 Months Ended
	Jun. 30, 2015
Notes
Note 3 - Note Receivable	NOTE 3 – NOTE RECEIVABLE The William Noyes Webster Foundation, Inc. (the "Foundation"), a non-profit Massachusetts corporation, has received a provisional registration from the Commonwealth of Massachusetts to own and operate a medical marijuana cultivation facility in Plymouth, Massachusetts (the “Plymouth Cultivation Facility”), and a medical marijuana dispensary in Dennis, Massachusetts (the “Dennis Dispensary”). Jane W. Heatley ("Heatley") is the founder and a member of the board of directors of the Foundation. Teaming Agreement Promissory Note During the six month period ended June 30, 2015, AQSP has loaned an additional $94,950 to the Foundation, evidenced by the Note and secured by the Security Agreement. AQSP has made additional loans of $40,400 to the Foundation subsequent to the quarter-end date. Following such additional loans, the principal of the loan from AQSP to the Foundation, evidenced by the Note and secured by the Security Agreement, is now $737,850. The principal balance outstanding under the Note bears interest at the rate of 12.5% per annum, compounded monthly. The Company accrued $79,701 in interest under the note for the six month period ended June 30, 2015. The first payment of accrued interest by the Foundation under the Note shall be made as soon after the Foundation commences operations of the Plymouth Cultivation Facility and the Dennis Dispensary as the Foundation's cash flows shall reasonably permit, but in any event no later than one year after the Foundation commences operations. The principal of the Note shall be payable in eight consecutive equal quarterly installments, commencing on the last day of the calendar quarter in which the Foundation commences operations. Principal on the Note and related accrued interest will be considered past due if the aforementioned payments are not received by their due dates. The Company assessed the collectability of the Note based on the adequacy of the Foundation’s collateral and the Foundation’s capability of repaying the Note according to its terms. Based on this assessment, the Company has concluded that no allowance for loan losses was required as of June 30, 2015.

Note 4 - Notes Payable

Note 4 - Notes Payable	6 Months Ended
	Jun. 30, 2015
Notes
Note 4 - Notes Payable	NOTE 4 – NOTES PAYABLE Notes Payable to Related Parties

Note 5 - Shareholders' Equity

Note 5 - Shareholders' Equity	6 Months Ended
	Jun. 30, 2015
Notes
Note 5 - Shareholders' Equity	NOTE 5 – SHAREHOLDERS’ EQUITY Share-Based Compensation The following is a summary of share-based compensation, stock option and warrant activity as of June 30, 2015 and changes during the year then ended: Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price (a) Term (Years) Value Outstanding, December 31, 2014 6,198,774 $1.56 Outstanding, June 30, 2015 6,198,774 $1.56 7.65 $2,611,875 Exercisable, June 30, 2015 3,598,774 $1.46 6.30 $2,611,875 Note: (a) Financing Warrants Common Stock

Note 6 - Contingent Contractual

Note 6 - Contingent Contractual Obligations and Commercial Commitments	6 Months Ended
	Jun. 30, 2015
Notes
Note 6 - Contingent Contractual Obligations and Commercial Commitments	NOTE 6 – CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Medical marijuana in Massachusetts: As discussed in Note 3, the Company has agreements with Heatley and the William Noyes Webster Foundation, Inc. (the “Foundation”). AQSP has agreed to pay a lump sum finder's fee to Parare Partners Inc. in the event that all of the following conditions occur: (1) AQSP makes certain loans to the William Noyes Webster Foundation, Inc. (the "Foundation") which was found by Parare Partners Inc., (2) the Foundation constructs and brings into operation its planned medical marijuana cultivation facility in Plymouth, Massachusetts (the “Plymouth Cultivation Facility”) and medical marijuana dispensary in Dennis, Massachusetts (the “Dennis Dispensary”), (3) AQSP directly or via subsidiaries enters into certain consulting agreements with the Foundation, and (4) all necessary approvals are obtained. If all of such conditions occur, then the finder's fee will be calculated as follows: (i) 5% of the first $1,000,000 of the aggregate principal amount of such loans, (ii) 4% of the second $1,000,000 of the aggregate principal amount of such loans, (iii) 3% of the third $1,000,000 of the aggregate principal amount of such loans, (iv) 2% of the fourth $1,000,000 of the aggregate principal amount of such loans, and (v) 1% of the aggregate principal amount of such loans that are in excess of $4,000,000. As of June 30, 2015, no finder’s fees are due to Parare Partners, Inc. During the six month period ended June 30, 2015, MVJ Realty, LLC, an affiliate of AQSP director Vincent J. Mesolella (“MVJ Realty”), loaned a total of $23,000 to the Foundation, which $23,000 was used as follows: (a) $9,500 was used by the Foundation to pay the rent of the Plymouth Cultivation Facility for the month of May, 2015; (b) $6,900 was used by the Foundation to pay the rent of the Dennis Dispensary for the months of April and May, 2015; (c) $3,600 was used by the Foundation to pay for the general liability insurance policy covering the Plymouth Cultivation Facility and the Dennis Dispensary; and (d) $3,000 was used by the Foundation to pay the application fees for two applications (the “Two New Applications”) by the Foundation to the Commonwealth of Massachusetts for licenses (the “Two New Licenses”) to operate two new medical marijuana dispensaries in Massachusetts (the “Two New Dispensaries”). In making these $23,000 loans to the Foundation, MVJ Realty viewed itself as acting as an agent for AQSP, and expected to eventually be reimbursed for the $23,000 by AQSP subject to the execution and delivery by the Foundation to AQSP of loan documents evidencing that the principal amount of the loan from AQSP to the Foundation, evidenced by the Note and secured by the Security Agreement, had been increased by $23,000. The execution and delivery of such loan documents occurred on July 15, 2015. In the Two New Applications, the Foundation included background information in regard to each director and officer of AQSP. If the Two New Licenses are awarded to the Foundation, then the Foundation may seek to obtain financing for the Two New Dispensaries from MVJ Realty/AQSP. While the Foundation and MVJ Realty/AQSP have not yet entered into any agreements in regard to such potential financing, AQSP anticipates that if such agreements were to be entered into, that the terms and conditions of such potential financing likely would generally mimic the terms and conditions of whatever financing package might be mutually approved by the Foundation and AQSP subject to approval by the Massachusetts Department of Public Health (the “DPH”) for the financing by AQSP and/or its affiliates of the Foundation’s Plymouth Cultivation Facility and Dennis Dispensary (the “Plymouth/Dennis Financing Package”). At the present time, AQSP anticipates that the Plymouth/Dennis Financing Package, if and when it is mutually approved by the Foundation and AQSP and approved by the DPH, will contemplate the following, among other things: (a) AQSP, or an affiliate of AQSP, would purchase certain real property (the “Plymouth Property”), including an existing building (the “Plymouth Building”), located in Plymouth, Massachusetts. The Plymouth Property is currently leased to the Foundation for use as the Plymouth Cultivation Facility, and such lease contains an option to purchase the Plymouth Property for $2,000,000 (the “Option to Purchase”). The Foundation has assigned the Option to Purchase to AQSP; (b) Following the exercise of the Option to Purchase, AQSP, or an affiliate of AQSP, would hire a contractor to construct the Plymouth Cultivation Facility in the Plymouth Building, and would enter into a long-term, so-called “net-net-net” lease of the Plymouth Cultivation Facility and the Building with the Foundation as the lessee (the “Lease”), and in addition AQSP would provide facility management services to the Foundation under the Lease; and (c) AQSP, or an affiliate of AQSP, would loan approximately $4 million to the Foundation (the “$4 Million Loan”); provided, however, that the entire Plymouth/Dennis Financing Package, including a Memorandum of Agreement, the Lease, and the $4 Million Loan, would all be subject to a contingency that AQSP, or an affiliate of AQSP, would successfully raise approximately $13.5 million in capital on terms and conditions acceptable to the board of directors of AQSP in its discretion. No assurances whatsoever can be made that the Plymouth/Dennis Financing Package will be consummated on any particular terms, if at all. Acquisition of Real Estate As discussed in AQSP’s prior public filings, AQSP and one of its directors, Vincent J. Mesolella, have agreed to negotiate in good faith regarding the possibility of AQSP acquiring certain parcels of real estate in Rhode Island that are owned by entities affiliated with Vincent J. Mesolella and his son Derek V. Mesolella, an independent contractor to AQSP, one of which parcels is also partly owned by an affiliate of AQSP’s chief executive officer, Gerard M. Jacobs (collectively, the “Mesolella/Jacobs Properties”). The independent members of the board of directors of AQSP, Joshua A. Bloom, Michael D. McCaffrey and Richard E. Morrissy, met separately and decided to cause AQSP to retain an MAI appraiser in Rhode Island to appraise the Mesolella/Jacobs Properties and one other parcel of real estate in Rhode Island that is owned by an unrelated third party (the “Unrelated Parcel”) who expressed a potential interest in AQSP acquiring the Unrelated Parcel. The appraiser prepared and delivered appraisals of the Mesolella/Jacobs Properties to the Company and to Vincent J. and Derek V. Mesolella for their review. This review resulted in certain of the appraisals being modified. The modified appraisals have now been analyzed by the Company and by Vincent J. and Derek V. Mesolella, and after discussion, the parties have been unable to date to agree upon mutually acceptable valuations of any of the Mesolella/Jacobs Properties. Consequently, the independent directors have met and have recommended to the full board of directors of AQSP that all pending purchase and sale offers on the Mesolella/Jacobs Properties be withdrawn.

Note 7 - Subsequent Events

Note 7 - Subsequent Events	6 Months Ended
	Jun. 30, 2015
Notes
Note 7 - Subsequent Events	NOTE 7 – SUBSEQUENT EVENTS We have evaluated subsequent events through the date of filing this quarterly report on Form 10-Q. AQSP has made additional loans of $40,400 to the Foundation subsequent to the quarter-end date. Following such additional loans, the principal of the loan from AQSP to the Foundation, evidenced by the Note and secured by the Security Agreement, is now $737,850. On July 20, 2015, the Board of Directors of AQSP agreed and acknowledged that all of the rights to purchase warrants, granted to members of the board of directors of AQSP, whose exercise price was based on the planned capital raise to fund the proposed acquisition of PPV, Inc. are now terminated. As a result of this termination, rights to purchase warrants, granted to members of the board of directors of AQSP, exercisable into 1,350,000 shares of AQSP have been terminated.

Note 1 - Basis of Presentatio14

Note 1 - Basis of Presentation and Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Policies
Basis of Presentation	Basis of Presentation – On January 12, 2013, Acquired Sales entered into an agreement with Drumright Group, LLC (“Drumright”) that was closed on February 11, 2013, wherein Acquired Sales sold 100% of the capital stock of Cogility Software Corporation (“Cogility”) to Drumright. Cogility’s results of operations have been reclassified as discontinued operations.
Condensed Financial Statements	Condensed Financial Statements
Principles of Consolidation	Principles of Consolidation
Use of Estimates	Use of Estimates
Basic and Diluted Earnings (Loss) Per Common Share	Basic and Diluted Earnings (Loss) Per Common Share The following table summarizes the calculations of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2015 and 2014. For the Three Months For the Six Months Ended Ended June 30, June 30, 2015 2014 2015 2014 Loss from Continuing Operations $(49,971) $(63,912) $(267,196) $(131,316) Net Income (Loss) $(49,971) $(63,912) $(267,196) $(131,316) Weighted -Average Shares Outstanding 2,269,648 2,269,648 2,269,648 2,269,648 Basic and Diluted Earnings (Loss) per Share Continuing Operations $(0.02) $(0.03) $(0.12) $(0.06) Basic and Diluted Earnings (Loss) per Share $(0.02) $(0.03) $(0.12) $(0.06) There were 6,198,774 employee stock options and 938,000 warrants outstanding during the three and six months ended June 30, 2015 that were excluded from the computation of diluted earnings (loss) per share because their effects would have been anti-dilutive. There were 2,148,774 employee stock options and 938,000 warrants outstanding during the three and six months ended June 30, 2014 that were excluded from the computation of diluted earnings (loss) per share because their effects would have been anti-dilutive.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In June 2014, the FASB issued ASU No. 2014-12, Compensation-Stock Compensation (Topic 718)-Accounting for Share-Based Payments When the Terms of an Award Provide That a Performance Target Could Be Achieved after the Requisite Service Period (a consensus of the FASB Emerging Issues Task Force). ASU No. 2014-12 requires that a performance target that affects vesting and could be achieved after the requisite service period shall be treated as a performance condition. The effective date will be the first quarter of fiscal year 2016. The Company has not determined the potential effects on the financial statements.

Note 1 - Basis of Presentatio15

Note 1 - Basis of Presentation and Significant Accounting Policies: Basic and Diluted Earnings (Loss) Per Common Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	The following table summarizes the calculations of basic and diluted earnings (loss) per share for the three and six months ended June 30, 2015 and 2014. For the Three Months For the Six Months Ended Ended June 30, June 30, 2015 2014 2015 2014 Loss from Continuing Operations $(49,971) $(63,912) $(267,196) $(131,316) Net Income (Loss) $(49,971) $(63,912) $(267,196) $(131,316) Weighted -Average Shares Outstanding 2,269,648 2,269,648 2,269,648 2,269,648 Basic and Diluted Earnings (Loss) per Share Continuing Operations $(0.02) $(0.03) $(0.12) $(0.06) Basic and Diluted Earnings (Loss) per Share $(0.02) $(0.03) $(0.12) $(0.06)

Note 5 - Shareholders' Equity_

Note 5 - Shareholders' Equity: Schedule of Share-based Compensation, Stock Options and Warrant Activity (Tables)	6 Months Ended
	Jun. 30, 2015
Tables/Schedules
Schedule of Share-based Compensation, Stock Options and Warrant Activity	The following is a summary of share-based compensation, stock option and warrant activity as of June 30, 2015 and changes during the year then ended: Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price (a) Term (Years) Value Outstanding, December 31, 2014 6,198,774 $1.56 Outstanding, June 30, 2015 6,198,774 $1.56 7.65 $2,611,875 Exercisable, June 30, 2015 3,598,774 $1.46 6.30 $2,611,875 Note: (a)

Note 1 - Basis of Presentatio17

Note 1 - Basis of Presentation and Significant Accounting Policies: Basis of Presentation (Details)	12 Months Ended
	Dec. 31, 2012	Sep. 30, 2013	Jan. 12, 2013
Defense Securities Technology Group
Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions	100.00%
Defense & Security Technology Group, Inc
Stock Sold to Acquirer, percent		100.00%
Drumright Group LLC purchase of Cogility
Stock Sold to Acquirer, percent			100.00%

Note 1 - Basis of Presentatio18

Note 1 - Basis of Presentation and Significant Accounting Policies: Basic and Diluted Earnings (Loss) Per Common Share: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Details
Loss from Contining Operations	$ (49,971)	$ (63,912)	$ (267,196)	$ (131,316)
Net Income (Loss)	$ (49,971)	$ (63,912)	$ (267,196)	$ (131,316)
Weighted -Average Shares Outstanding	2,269,648	2,269,648	2,269,648	2,269,648
Basic and Diluted Earnings (Loss) per Share
Continuing Operations	$ (0.02)	$ (0.03)	$ (0.12)	$ (0.06)
Basic and Diluted Earnings (Loss) per Share	$ (0.02)	$ (0.03)	$ (0.12)	$ (0.06)

Note 1 - Basis of Presentatio19

Note 1 - Basis of Presentation and Significant Accounting Policies: Basic and Diluted Earnings (Loss) Per Common Share (Details) - shares	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Equity Option
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	6,198,774	2,148,774
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	938,000	938,000

Note 2 - Risks and Uncertaint20

Note 2 - Risks and Uncertainties (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Details
Accumulated deficit	$ (12,614,624)		$ (12,614,624)		$ (12,347,428)
Loss from Contining Operations	$ (49,971)	$ (63,912)	(267,196)	$ (131,316)
Net cash used in operating activities of continuing operations			$ (276,293)	$ (126,316)

Note 3 - Note Receivable (Detai

Note 3 - Note Receivable (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2014	Jun. 30, 2015	Dec. 31, 2014
Note receivable payment		$ 94,950
Accrued Interest Receivable		79,701	$ 35,926
Secured Promissory Note
Note receivable payment	$ 602,500
Secured Promissory Note | William Noyes Webster Foundation Inc
Debt Instrument, Face Amount		1,500,000
Note receivable payment	600,000	$ 94,950
Debt Instrument, Interest Rate, Stated Percentage		12.50%
Secured Promissory Note | William Noyes Webster Foundation Inc | Subsequent Event
Note receivable payment		$ 40,400
Note Receivable		737,850
Secured Promissory Note | William Noyes Webster Foundation Inc | Payment To Consultant
Note receivable payment	$ 2,500
Secured Promissory Note | William Noyes Webster Foundation Inc | Unfunded Portion of Note
Debt Instrument, Face Amount		$ 897,500

Note 4 - Notes Payable (Details

Note 4 - Notes Payable (Details)	Jul. 14, 2014USD ($)
Roberti Jacobs Family Trust
Debt Instrument, Face Amount	$ 300,000

Note 5 - Shareholders' Equity23

Note 5 - Shareholders' Equity: Schedule of Share-based Compensation, Stock Options and Warrant Activity (Details) - Jun. 30, 2015 - USD ($)	Total
Details
Options, Outstanding, Beginning Balance	6,198,774
Options, Outstanding, Weighted Average Exercise Price, Beginning Balance	$ 1.56
Options, Outstanding, Ending Balance	6,198,774
Options, Outstanding, Weighted Average Exercise Price, Ending Balance	$ 1.56
Options, Outstanding, Weighted Average Remaining Term	7 years 7 months 24 days
Options, Outstanding, Intrinsic Value	$ 2,611,875
Options, Exercisable	3,598,774
Options, Exercisable, Weighted Average Exercise Price	$ 1.46
Options, Exercisable, Weighted Average Remaining Term	6 years 3 months 18 days
Options, Exercisable, Intrinsic Value	$ 2,611,875

Note 5 - Shareholders' Equity (

Note 5 - Shareholders' Equity (Details) - USD ($)	3 Months Ended	6 Months Ended		12 Months Ended
	Mar. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2013	Feb. 28, 2014
Class of Warrant, Outstanding		938,000
Payment to Mr. Ghourdjian for Purchase of Common Stock	$ 20,000		$ 20,000	$ 30,000
Matthew Ghourdjian
Share Price					$ 0.07
Common Stock
Stock Repurchased During Period, Shares				(690,796)
Warrant | Notes Payable to Related Parties
Weighted Average Exercise Price		$ 2.32
Weighted Average Remaining Contractual Term		1 year 10 months 10 days
Aggregate Intrinsic Value		$ 0

Note 6 - Contingent Contractu25

Note 6 - Contingent Contractual Obligations and Commercial Commitments (Details) - Jun. 30, 2015 - USD ($)	Total
Plymouth Property
Property Option Price	$ 2,000,000
Potential Loan Amount	4,000,000
Potential Financing Amount	13,500,000
MVJ Realty, LLC
Debt Instrument, Face Amount	$ 23,000
Debt Instrument, Use of proceeds	$23,000 was used as follows: (a) $9,500 was used by the Foundation to pay the rent of the Plymouth Cultivation Facility for the month of May, 2015; (b) $6,900 was used by the Foundation to pay the rent of the Dennis Dispensary for the months of April and May, 2015; (c) $3,600 was used by the Foundation to pay for the general liability insurance policy covering the Plymouth Cultivation Facility and the Dennis Dispensary; and (d) $3,000 was used by the Foundation to pay the application fees for two applications (the “Two New Applications”) by the Foundation to the Commonwealth of Massachusetts for licenses (the “Two New Licenses”) to operate two new medical marijuana dispensaries in Massachusetts (the “Two New Dispensaries”).
Parere Partners Inc. | Medical marijuana on Cape Cod
Commitments Under Agreements with the William Noyes Webster Foundation, Inc.	(i) 5% of the first $1,000,000 of the aggregate principal amount of such loans, (ii) 4% of the second $1,000,000 of the aggregate principal amount of such loans, (iii) 3% of the third $1,000,000 of the aggregate principal amount of such loans, (iv) 2% of the fourth $1,000,000 of the aggregate principal amount of such loans, and (v) 1% of the aggregate principal amount of such loans that are in excess of $4,000,000. As of June 30, 2015, no finder’s fees are due to Parare Partners, Inc.
William Noyes Webster Foundation Inc | Secured Promissory Note
Debt Instrument, Face Amount	$ 1,500,000
William Noyes Webster Foundation Inc | MVJ Realty, LLC | Secured Promissory Note
Debt Instrument, Increase	$ 23,000

Note 7 - Subsequent Events (Det

Note 7 - Subsequent Events (Details) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2014	Jun. 30, 2015
Note receivable payment		$ 94,950
Secured Promissory Note
Note receivable payment	$ 602,500
Secured Promissory Note | William Noyes Webster Foundation Inc
Note receivable payment	$ 600,000	$ 94,950
Subsequent Event | Warrant
Warrants forfeited due to termination of planned capital raise		1,350,000
Subsequent Event | Secured Promissory Note | William Noyes Webster Foundation Inc
Note receivable payment		$ 40,400
Note Receivable		$ 737,850