LFTD Partners (LIFD) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 11, 2016
Document and Entity Information:
Entity Registrant Name	ACQUIRED SALES CORP
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Entity Central Index Key	1,391,135
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		2,369,648
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	2,016
Document Fiscal Period Focus	Q3
Trading Symbol	aqsp

CONDENSED BALANCE SHEETS

CONDENSED BALANCE SHEETS - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and Cash Equivalents	$ 428	$ 27,781
Total Current Assets	428	27,781
Notes Receivable		25,000
Total Assets	428	52,781
Current Liabilities
Trade Accounts Payable	105,078	19,295
Total Current Liabilities	105,078	19,295
Long Term Liabilities
Note Payable to Related Party	4,000
Total Long Term Liabilities	4,000
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; 2,369,648 and 2,269,648 shares outstanding, respectively	2,370	2,270
Additional Paid-in Capital	13,554,524	13,554,524
Accumulated Deficit	(13,665,544)	(13,523,308)
Total Shareholders' Equity (Deficit)	(108,650)	33,486
Total Liabilities and Shareholders' Equity	$ 428	$ 52,781

CONDENSED BALANCE SHEETS (Paren

CONDENSED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
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	2,369,648	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 - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement
Selling, General and Administrative Expense	$ (52,861)	$ (52,944)	$ (142,264)	$ (366,181)
Bad Debt Expense		(835,277)		(835,277)
Interest Income		17,726		61,501
Other Income			28	2,267
Net Loss	$ (52,861)	$ (870,495)	$ (142,236)	$ (1,137,690)
Basic and Diluted Earnings Loss per Share	$ (0.02)	$ (0.38)	$ (0.06)	$ (0.50)

CONDENSED STATEMENTS OF SHAREHO

CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) - USD ($)	Common Stock	Additional Paid-in Capital	Accumulated Deficit	Total
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 Loss			(1,137,690)	(1,137,690)
Stockholders' Equity, end of period, Value at Sep. 30, 2015	$ 2,270	13,554,524	(13,485,118)	71,676
Stockholders' Equity, end of period, Shares at Sep. 30, 2015	2,269,648
Stockholders' Equity beginning of period, Value at Dec. 31, 2015	$ 2,270	13,554,524	(13,523,308)	33,486
Stockholders' Equity beginning of period, Shares at Dec. 31, 2015	2,269,648
Exercise of Stock Options, Value	$ 100			$ 100
Exercise of Stock Options, Shares	100,000			100,000
Net Loss			(142,236)	$ (142,236)
Stockholders' Equity, end of period, Value at Sep. 30, 2016	$ 2,370	$ 13,554,524	$ (13,665,544)	$ (108,650)
Stockholders' Equity, end of period, Shares at Sep. 30, 2016	2,369,648

CONDENSED STATEMENTS OF CASH FL

CONDENSED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows From Operating Activities
Net Loss	$ (142,236)	$ (1,137,690)
Changes in Operating Assets and Liabilities:
Bad Debt Expense		835,277
Prepaid Expenses		7,985
Accrued Interest Receivable		(61,501)
Accounts Payable	85,783	(12,336)
Net Cash Used in Operating Activities	(56,453)	(368,265)
Cash Flows from Investing Activities
Note Receivable	25,000	(135,350)
Net Cash Provided by (Used in) Investing Activities	25,000	(135,350)
Cash Flows From Financing Activities
Proceeds From Borrowing Under Related Party Note Payable	4,000
Exercise of Stock Options	100
Net Cash Provided by Financing Activities	4,100
Net Decrease in Cash	(27,353)	(503,615)
Cash and Cash Equivalents at Beginning of Period	27,781	587,937
Cash and Cash Equivalents at End of Period	$ 428	$ 84,322

Note 1 - Description of The Bus

Note 1 - Description of The Business of Acquired Sales Corp.	9 Months Ended
	Sep. 30, 2016
Notes
Note 1 - Description of The Business of Acquired Sales Corp.	NOTE 1 – DESCRIPTION OF THE BUSINESS OF ACQUIRED SALES CORP. Acquired Sales Corp. (hereinafter sometimes referred to as "Acquired Sales", "AQSP" or the "Company") was organized under the laws of the State of Nevada on January 2, 1986. Previously, the Company was involved in selling software licenses and hardware, and the provision of consulting and maintenance services.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Notes
Note 2 - Basis of Presentation and Significant Accounting Policies	NOTE 2 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation – Condensed Financial Statements Use of Estimates Basic and Diluted Earnings (Loss) Per Common Share The following table summarizes the calculations of basic and diluted earnings (loss) per common share for the three and nine months ended September 30, 2016 and 2015. For the Three Months For the Nine Months Ended Ended September 30, September 30, 2016 2015 2016 2015 Net Loss $(52,861) $(870,495) $(142,236) $(1,137,690) Weighted -Average Shares Outstanding 2,318,035 2,269,648 2,293,842 2,269,648 Basic and Diluted Earnings Loss per Share $(0.02) $(0.38) $(0.06) $(0.50) At January 1, 2016 through May 17, 2016, there were 4,848,774 stock options and 478,000 financing warrants outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. On May 18, 2016, 100,000 of these stock options were exercised. As a result, at September 30, 2016, there were 4,748,774 stock options and 478,000 financing warrants outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. In comparison, there were 4,848,774 employee stock options and 938,000 warrants outstanding during the three and nine months ended September 30, 2015 that were excluded from the computation of diluted earnings (loss) per share because their effects would have been anti-dilutive. Recent Accounting Pronouncements In March 2016, FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments in this update change the accounting for certain stock-based compensation transactions, including the income tax consequences and cash flow classification for applicable transactions. The amendments in this update are effective for annual periods beginning after December 31, 2016 and interim periods within those annual periods. The Company is currently evaluating the impact that this amendment will have on its financial statements.

Note 3 - Risks and Uncertaintie

Note 3 - Risks and Uncertainties	9 Months Ended
	Sep. 30, 2016
Notes
Note 3 - Risks and Uncertainties	NOTE 3 – RISKS AND UNCERTAINTIES Going Concern – The sales of Cogility and DSTG eliminated the Company's source of revenue. As a result, there is substantial doubt that the Company will be able to continue as a going concern. Bankruptcy of the Company at some point in the future is a possibility. The accompanying financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should the Company be unable to continue as a going concern. The Company currently has no revenue-generating subsidiaries. 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; and/or (2) completing private placements of the Company's 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 assurances or guarantees whatsoever 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 4 - Notes Receivable

Note 4 - Notes Receivable	9 Months Ended
	Sep. 30, 2016
Notes
Note 4 - Notes Receivable	NOTE 4 – NOTES 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, and a medical marijuana dispensary in Dennis, Massachusetts. Jane W. Heatley ("Heatley") is the founder and a member of the board of directors of the Foundation. Teaming Agreement Promissory Note Between April and July 2015, the Company loaned an additional $135,350 to the Foundation, evidenced by the Note and secured by the Security Agreement. Following such additional loans, the principal of the loan from the Company to the Foundation, evidenced by the Note and secured by the Security Agreement, is now $737,850. The principal balance outstanding under the Note bore interest at the rate of 12.5% per annum, compounded monthly. It was contemplated that the first payment of accrued interest by the Foundation under the Note would 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 would 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 would be considered past due if the aforementioned payments were not received by their due dates. Uncollectable Note and Interest Receivable One-Seven, LLC One-Seven, LLC ("One-Seven") is a business investment firm that hopes to make equity and/or debt investments in privately held and/or publicly traded companies from time to time. On October 9, 2015, the Company's chief executive officer, Gerard M. Jacobs, loaned money to One-Seven. Gerard M. Jacobs obtained a 50% economic interest in One-Seven, and therefore One-Seven is a related party to Gerard M. Jacobs. On November 4, 2015, the Company entered into an Agreement with One-Seven, its Managing Partner Douglas Stukel ("Stukel"), and Gerard M. Jacobs pursuant to which the Company loaned $50,000 interest-free to One-Seven. As of December 31, 2015, $25,000 of the loan had been repaid to the Company by One-Seven, and the balance of $25,000 was still held by the Company as a receivable from One-Seven. The loan was repaid in full as of January 5, 2016. In consideration of such $50,000 loan to One-Seven, One-Seven and Stukel agreed that if One-Seven is successful in securing additional funding, then Stukel and One-Seven are obligated to use good faith efforts to work with Gerard M. Jacobs and the Company, as a team and not as a partnership, joint venture or other entity, in order to explore and hopefully close transactions pursuant to which: (a) One-Seven may provide debt, convertible debt and/or equity to the Company, all on mutually acceptable terms and conditions; (b) One-Seven may provide debt, convertible debt and/or equity to business entities that may be wholly or partly purchased by, or merged into, the Company, all on mutually acceptable terms and conditions; and (c) Stukel may participate in the management of the Company and obtain a salary and a package of stock options and/or warrants to purchase shares of common stock of the Company, all on mutually acceptable terms and conditions. There are no assurances or guarantees whatsoever that the Company will consummate any transactions involving One-Seven or Mr. Stukel.

Note 5 - Note Payable

Note 5 - Note Payable	9 Months Ended
	Sep. 30, 2016
Notes
Note 5 - Note Payable	NOTE 5 – NOTE PAYABLE On June 21, 2016, a company affiliated with Gerard M. Jacobs, CEO of Acquired Sales, made a non-interest bearing loan of $4,000 to the Company, which is payable upon demand.

Note 6 - Shareholders' Equity

Note 6 - Shareholders' Equity	9 Months Ended
	Sep. 30, 2016
Notes
Note 6 - Shareholders' Equity	NOTE 6 – SHAREHOLDERS' EQUITY Summary of Stock Option and Warrant Activity The following is a summary of the Company's stock option and warrant activity as of September 30, 2016 and changes during the period then ended: Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price (a) Term (Years) Value Outstanding, December 31, 2015 4,848,774 $1.56 Exercised options 100,000 $- Outstanding, September 30, 2016 4,748,774 $1.59 5.91 $2,048,975 Exercisable, September 30, 2016 3,498,774 $1.50 5.07 $2,048,975 Note: (a) Assignment and Exercise of Stock Option Agreement – Cogility was acquired by Acquired Sales in September 2011. Pursuant to the terms and conditions of that acquisition and the SOA, Gerard M. Jacobs or his assignees or heirs was granted the right to purchase 100,000 shares of common stock of Acquired Sales at the purchase price of $0.001 per share, or an aggregate purchase price of $100. For valuable consideration received, Gerard M. Jacobs assigned the SOA to his affiliate Miss Mimi Corporation ("Miss Mimi"), effective as of May 18, 2016. Miss Mimi notified Acquired Sales effective as of May 18, 2016, that Miss Mimi exercised the SOA and thereby purchased all 100,000 shares of common stock of Acquired Sales covered by the SOA, for the aggregate purchase price of $100, with the purchase price paid in the form of cashier's check from Miss Mimi payable to Acquired Sales. Financing Warrants

Note 7 - Contingent Contractual

Note 7 - Contingent Contractual Obligations and Commercial Commitments	9 Months Ended
	Sep. 30, 2016
Notes
Note 7 - Contingent Contractual Obligations and Commercial Commitments	NOTE 7 – CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Medical Marijuana in Massachusetts: As discussed in Note 4, the Company has agreements with Heatley and the Foundation. On July 20, 2014, the Company entered into an agreement to pay a lump sum finder's fee to Parare Partners Inc. in the event that all of the following conditions occur: (1) the Company makes certain loans to 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 and a medical marijuana dispensary in Dennis, Massachusetts, (3) the Company 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: 5% of the first $1,000,000 of the aggregate principal amount of such loans 4% of the second $1,000,000 of the aggregate principal amount of such loans 3% of the third $1,000,000 of the aggregate principal amount of such loans 2% of the fourth $1,000,000 of the aggregate principal amount of such loans 1% of the aggregate principal amount of such loans that are in excess of $4,000,000 The Company has not paid any fees under this Agreement. All of the conditions have not been met for the finder's fee to have accrued on the amounts loaned to the Foundation; therefore, a liability has not been recorded for the finder's fee at September 30, 2016. During the nine month period ended September 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 purportedly 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 the Company, and expected to eventually be reimbursed for the $23,000 by the Company subject to the execution and delivery by the Foundation to the Company of loan documents evidencing that the principal amount of the loan from the Company 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, and MVJ Realty was reimbursed for the $23,000 in August 2015. In the Two New Applications, the Foundation included background information in regard to each of the Company's directors and officers. 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. The Foundation and MVJ Realty/AQSP have not yet entered into any agreements in regard to such potential financing, and the Company considers it to be extremely doubtful that any such agreements will ever be entered into in light of the on-going disputes between Heatley, the Foundation, and the Company regarding the Teaming Agreement. At this time, no assurances or guarantees whatsoever can be made as to whether any transaction with the Foundation will be successfully consummated, nor on what terms.

Note 8 - Subsequent Events

Note 8 - Subsequent Events	9 Months Ended
	Sep. 30, 2016
Notes
Note 8 - Subsequent Events	NOTE 8 – SUBSEQUENT EVENTS We have evaluated subsequent events through the date of filing this quarterly report on Form 10-Q. The Company expects to issue to a consultant multi-year options or warrants to purchase 100,000 shares of common stock of the Company with an exercise price of $1.85 per share.

Note 2 - Basis of Presentatio15

Note 2 - Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Policies
Basis of Presentation	Basis of Presentation –
Condensed Financial Statements	Condensed Financial Statements
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 common share for the three and nine months ended September 30, 2016 and 2015. For the Three Months For the Nine Months Ended Ended September 30, September 30, 2016 2015 2016 2015 Net Loss $(52,861) $(870,495) $(142,236) $(1,137,690) Weighted -Average Shares Outstanding 2,318,035 2,269,648 2,293,842 2,269,648 Basic and Diluted Earnings Loss per Share $(0.02) $(0.38) $(0.06) $(0.50) At January 1, 2016 through May 17, 2016, there were 4,848,774 stock options and 478,000 financing warrants outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. On May 18, 2016, 100,000 of these stock options were exercised. As a result, at September 30, 2016, there were 4,748,774 stock options and 478,000 financing warrants outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. In comparison, there were 4,848,774 employee stock options and 938,000 warrants outstanding during the three and nine months ended September 30, 2015 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 March 2016, FASB issued ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The amendments in this update change the accounting for certain stock-based compensation transactions, including the income tax consequences and cash flow classification for applicable transactions. The amendments in this update are effective for annual periods beginning after December 31, 2016 and interim periods within those annual periods. The Company is currently evaluating the impact that this amendment will have on its financial statements.

Note 2 - Basis of Presentatio16

Note 2 - Basis of Presentation and Significant Accounting Policies: Basic and Diluted Earnings (Loss) Per Common Share: Schedule of Earnings Per Share, Basic and Diluted (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Earnings Per Share, Basic and Diluted	The following table summarizes the calculations of basic and diluted earnings (loss) per common share for the three and nine months ended September 30, 2016 and 2015. For the Three Months For the Nine Months Ended Ended September 30, September 30, 2016 2015 2016 2015 Net Loss $(52,861) $(870,495) $(142,236) $(1,137,690) Weighted -Average Shares Outstanding 2,318,035 2,269,648 2,293,842 2,269,648 Basic and Diluted Earnings Loss per Share $(0.02) $(0.38) $(0.06) $(0.50)

Note 6 - Shareholders' Equity_

Note 6 - Shareholders' Equity: Schedule of Share-based Compensation, Stock Options and Warrant Activity (Tables)	9 Months Ended
	Sep. 30, 2016
Tables/Schedules
Schedule of Share-based Compensation, Stock Options and Warrant Activity	The following is a summary of the Company's stock option and warrant activity as of September 30, 2016 and changes during the period then ended: Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price (a) Term (Years) Value Outstanding, December 31, 2015 4,848,774 $1.56 Exercised options 100,000 $- Outstanding, September 30, 2016 4,748,774 $1.59 5.91 $2,048,975 Exercisable, September 30, 2016 3,498,774 $1.50 5.07 $2,048,975 Note: (a)

Note 2 - Basis of Presentatio18

Note 2 - 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Details
Net Loss	$ (52,861)	$ (870,495)	$ (142,236)	$ (1,137,690)
Weighted Average Shares Outstanding	2,318,035	2,269,648	2,293,842	2,269,648
Basic and Diluted Loss per Share	$ (0.02)	$ (0.38)	$ (0.06)	$ (0.50)

Note 2 - Basis of Presentatio19

Note 2 - Basis of Presentation and Significant Accounting Policies: Basic and Diluted Earnings (Loss) Per Common Share (Details) - shares	5 Months Ended	9 Months Ended
	May 17, 2016	Sep. 30, 2016	Sep. 30, 2015
Exercise of Stock Options, Shares		100,000
Equity Option
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,848,774	4,748,774	4,848,774
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount		478,000	938,000

Note 3 - Risks and Uncertaint20

Note 3 - Risks and Uncertainties (Details) - USD ($)	3 Months Ended		8 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 01, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Accumulated Deficit	$ (13,665,544)			$ (13,665,544)		$ (13,523,308)
Income (Loss) from Continuing Operations, Net of Tax, Attributable to Parent	$ (52,861)			(142,236)
Net Cash Used in Operating Activities				(56,453)	$ (368,265)
Bad Debt Expense		$ 835,277			$ 835,277
Secured Promissory Note | William Noyes Webster Foundation Inc
Bad Debt Expense			$ 737,850	737,850
Interest receivable | William Noyes Webster Foundation Inc
Bad Debt Expense				$ 97,427

Note 4 - Notes Receivable (Deta

Note 4 - Notes Receivable (Details) - USD ($)	1 Months Ended	3 Months Ended	7 Months Ended	8 Months Ended	9 Months Ended
	Jul. 31, 2014	Sep. 30, 2015	Jul. 31, 2015	Sep. 01, 2015	Sep. 30, 2016	Sep. 30, 2015	Oct. 09, 2015	Jul. 14, 2014
Bad Debt Expense		$ 835,277				$ 835,277
Secured Promissory Note | William Noyes Webster Foundation Inc
Debt Instrument, Face Amount								$ 1,500,000
Note receivable payment	$ 602,500		$ 135,350
Advances	600,000
Note Receivable					$ 737,850
Debt Instrument, Interest Rate, Stated Percentage					12.50%
Bad Debt Expense				$ 737,850	$ 737,850
Secured Promissory Note | William Noyes Webster Foundation Inc | Payment To Consultant
Advances	$ 2,500
Secured Promissory Note | William Noyes Webster Foundation Inc | Unfunded Portion of Note
Debt Instrument, Face Amount								$ 897,500
Secured Promissory Note | One-Seven LLC
Debt Instrument, Face Amount							$ 50,000
Note receivable payment					25,000
Note Receivable					$ 25,000
Debt Instrument, Interest Rate, Stated Percentage							0.00%
Debt Instrument, Description					In consideration of such $50,000 loan to One-Seven, One-Seven and Stukel agreed that if One-Seven is successful in securing additional funding, then Stukel and One-Seven are obligated to use good faith efforts to work with Gerard M. Jacobs and the Company, as a team and not as a partnership, joint venture or other entity, in order to explore and hopefully close transactions pursuant to which: (a) One-Seven may provide debt, convertible debt and/or equity to the Company, all on mutually acceptable terms and conditions; (b) One-Seven may provide debt, convertible debt and/or equity to business entities that may be wholly or partly purchased by, or merged into, the Company, all on mutually acceptable terms and conditions; and (c) Stukel may participate in the management of the Company and obtain a salary and a package of stock options and/or warrants to purchase shares of common stock of the Company, all on mutually acceptable terms and conditions.
Interest receivable | William Noyes Webster Foundation Inc
Bad Debt Expense					$ 97,427

Note 5 - Note Payable (Details)

Note 5 - Note Payable (Details)	Jun. 21, 2016USD ($)
Chief Executive Officer
Debt Instrument, Face Amount	$ 4,000

Note 6 - Shareholders' Equity23

Note 6 - Shareholders' Equity: Schedule of Share-based Compensation, Stock Options and Warrant Activity (Details)	9 Months Ended
	Sep. 30, 2016USD ($)$ / sharesshares
Details
Outstanding, Beginning Balance | shares	4,848,774
Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 1.56
Exercised options | shares	100,000
Exercised options, Weighted Average Exercise Price | $ / shares	$ 0
Outstanding, Ending Balance | shares	4,748,774
Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 1.59
Outstanding, Weighted Average Remaining Term	5 years 10 months 28 days
Outstanding, Intrinsic Value | $	$ 2,048,975
Exercisable | shares	3,498,774
Exercisable, Weighted Average Exercise Price | $ / shares	$ 1.50
Exercisable, Weighted Average Remaining Term	5 years 25 days
Exercisable, Intrinsic Value | $	$ 2,048,975

Note 6 - Shareholders' Equity (

Note 6 - Shareholders' Equity (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2012
Exercise of Stock Options, Value	$ 100
Warrants, Outstanding	478,000	938,000
Warrants, Expired	460,000
Warrants, Outstanding, Weighted Average Exercise Price	2.63
Warrant
Weighted Average Remaining Contractual Term	8 months 8 days
Aggregate Intrinsic Value	$ 0

Note 7 - Contingent Contractu25

Note 7 - Contingent Contractual Obligations and Commercial Commitments (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Jul. 14, 2014
MVJ Realty, LLC
Debt Instrument, Face Amount	$ 23,000
Debt Instrument, Use of proceeds	$23,000 was purportedly 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').
Debt Instrument, Repurchase Amount	$ 23,000
Parere Partners Inc. | Medical marijuana on Cape Cod
Commitments Under Agreements with the Foundation	On July 20, 2014, the Company entered into an agreement to pay a lump sum finder's fee to Parare Partners Inc. in the event that all of the following conditions occur: (1) the Company makes certain loans to 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 and a medical marijuana dispensary in Dennis, Massachusetts, (3) the Company 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: 5% of the first $1,000,000 of the aggregate principal amount of such loans 4% of the second $1,000,000 of the aggregate principal amount of such loans 3% of the third $1,000,000 of the aggregate principal amount of such loans 2% of the fourth $1,000,000 of the aggregate principal amount of such loans 1% of the aggregate principal amount of such loans that are in excess of $4,000,000 The Company has not paid any fees under this Agreement. All of the conditions have not been met for the finder's fee to have accrued on the amounts loaned to the Foundation; therefore, a liability has not been recorded for the finder's fee at September 30, 2016.
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 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details) - Subsequent Event - Consultant	1 Months Ended
	Nov. 11, 2016$ / sharesshares
Deferred Compensation Arrangement with Individual, Shares Issued | shares	100,000
Deferred Compensation Arrangement with Individual, Exercise Price | $ / shares	$ 1.85