LFTD Partners (LIFD) 10-K 6 Sep 18 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2018	Mar. 23, 2017
Document and Entity Information:
Entity Registrant Name	ACQUIRED SALES CORP
Document Type	10-K
Document Period End Date	Dec. 31, 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	FY
Entity Public Float		$ 294,633
Trading Symbol	aqsp
Contained File Information, File Number	000-51230
Entity Incorporation, State Country Name	Nevada
Entity Address, Address Line One	31 N. Suffolk Lane
Entity Address, City or Town	Lake Forest
Entity Address, State or Province	Illinois
Entity Address, Postal Zip Code	60,045
City Area Code	847
Local Phone Number	915-2446

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 605	$ 27,781
Total Current Assets	605	27,781
Note receivable	0	25,000
Interest receivable	0	0
Total Assets	605	52,781
Accounts Payable - Related Party
Accounts Payable - Related Party - Payable to William C. Jacobs	43,149	6,053
Accounts Payable - Related Party - Payable to Gerard M. Jacobs	9,684	1,879
Accounts Payable - Related Party - Payable to Other Related Party	4,000	0
Accounts Payable - Related Party	56,833	7,932
Trade accounts payable	91,913	11,363
Total Current Liabilities	148,746	19,295
Shareholders' Equity
Preferred stock, $0.001 par value; 10,000,000 shares authorized; none outstanding	0	0
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	(13,705,035)	(13,523,308)
Total Shareholders'Equity	(148,141)	33,486
Total Liabilities and Shareholders' Equity	$ 605	$ 52,781

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
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	0	0
Preferred Stock, shares outstanding	0	0

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Statement [Abstract]
Selling, General and Administrative Expense	$ (79,491)	$ (149,406)
Professional Fees	(102,264)	(254,965)
Bad Debt Expense	0	(835,277)
Interest Income	0	61,501
Other Income	28	2,267
Provision for Income Taxes	0	0
Net Loss	$ (181,727)	$ (1,175,880)
Basic and Diluted Earnings Loss per Share	$ (0.08)	$ (0.52)
Basic and diluted weighted average number of common shares outstanding:	2,331,745	2,269,648

STATEMENTS OF SHAREHOLDERS' EQU

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			(1,175,880)	(1,175,880)
Stockholders' Equity, end of period, Value at Dec. 31, 2015	$ 2,270	13,554,524	(13,523,308)	33,486
Stockholders' Equity, end 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			(181,727)	$ (181,727)
Stockholders' Equity, end of period, Value at Dec. 31, 2016	$ 2,370	$ 13,554,524	$ (13,705,035)	$ (148,141)
Stockholders' Equity, end of period, Shares at Dec. 31, 2016	2,369,648

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Cash Flows From Operating Activities
Net Loss	$ (181,727)	$ (1,175,880)
Changes in operating assets and liabilities:
Bad debt expense	0	835,277
Prepaid expenses	0	7,985
Accrued interest receivable	0	(61,501)
Accounts Payable - Related Party	48,901	(13,208)
Trade Accounts Payable	80,550	7,521
Net Cash Used in Operating Activities	(52,276)	(399,806)
Cash Flows From Investing Activities
Notes receivable	25,000	(160,350)
Net Cash Provided by (Used In) Provided by Investing Activities	25,000	(160,350)
Cash Flow From Financing Activities
Exercise of Stock Options	100	0
Net Cash Provided by (Used in) Financing Activities	100	0
Net (Decrease) Increase in Cash	(27,176)	(560,156)
Cash and Cash Equivalents at Beginning of Year	27,781	587,937
Cash and Cash Equivalents at End of Year	605	27,781
Supplemental Cash Flow Information
Cash paid for interest	0	0
Cash paid for income taxes	$ 0	$ 0

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 1 - Basis of Presentation and Significant Accounting Policies	NOTE 1 – BASIS OF PRESENTATION AND SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation Previously, the Company was involved in selling software licenses and hardware, and the provision of consulting and maintenance services. The accompanying financial statements include the accounts and operations of Acquired Sales for all periods presented. Use of Estimates Income Taxes Basic and Diluted Earnings (Loss) Per Common Share For the Year Ended December 31, 2016 2015 Net Loss $ (181,727) $ (870,495) Weighted -Average Shares Outstanding 2,331,745 2,269,648 Basic and Diluted Earnings Loss per Share $ (0.08) $ (0.38) At December 31, 2016, there were 2,048,774 stock options, 478,000 financing warrants and rights to purchase warrants to purchase 2,700,000 shares of the Company’s common stock outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. In comparison, at December 31, 2015, there were 2,148,774 stock options, 478,000 financing warrants and rights to purchase warrants to purchase 2,700,000 shares of the Company’s common stock outstanding 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. Effective January 2017, FASB issued ASU No. 2016-15 “Statement of Cash Flows” (Topic 230). This guidance clarifies diversity in practice on where in the Statement of Cash Flows to recognize certain transactions, including the classification of payment of contingent consideration for acquisitions between Financing and Operating activities. We are currently evaluating the impact that this amendment will have on our financial statements. On January 5, 2017, the FASB issued ASU No. 2017-01, “Clarifying the Definition of a Business” (Topic ASC 805), guidance to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this ASU provide a screen to determine when an integrated set of assets and activities (collectively referred to as a “set”) is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is not met, the amendments require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and remove the evaluation of whether a market participant could replace the missing elements. This ASU is effective for public business entities in annual periods beginning after December 15, 2017, including interim periods therein. We are currently evaluating the impact that this amendment will have on our financial statements. In May 2017, the FASB issued ASU No. 2017-09, “Compensation – Stock Compensation” (Topic 718) - Scope of Modification Accounting. This ASU clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. This ASU is effective prospectively for the annual period ending December 31, 2018 and interim periods within that annual period. We are currently evaluating the impact that this amendment will have on our financial statements.

Note 2 - Risks and Uncertaintie

Note 2 - Risks and Uncertainties	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 2 - Risks and Uncertainties	NOTE 2 - 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 3 - Notes Receivable

Note 3 - Notes Receivable	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 3 - Notes Receivable	NOTE 3 – 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. 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 4 - Amounts Owed to Relate

Note 4 - Amounts Owed to Related Parties	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Note 4 - Amounts Owed to Related Parties	NOTE 4 – AMOUNTS OWED TO RELATED PARTIES On June 21, 2016, a company affiliated with Gerard M. Jacobs, Chief Executive Officer of Acquired Sales, made a non-interest bearing loan of $4,000 to the Company, which is payable upon demand. At December 31, 2016, there are expense reimbursements owed to Gerard M. Jacobs totaling $9,684. In comparison, at December 31, 2015, there were expense reimbursements owed to Gerard M. Jacobs totaling $1,879. At December 31, 2016, there are independent contractor fees and expense reimbursements owed to William C. Jacobs totaling $43,149. In comparison, at December 31, 2015, there were expense reimbursements owed to William C. Jacobs totaling $6,053.

Note 5 - Shareholders' Equity

Note 5 - Shareholders' Equity	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 5 - Shareholders' Equity	NOTE 5 – SHAREHOLDERS’ EQUITY Share-Based Compensation On November 28, 2014, the Company’s Chief Executive Officer and Board of Directors were issued rights to purchase warrants, which do not require shareholder approval, to purchase an aggregate of 1,350,000 shares of common stock of the Company at $0.01 per share and rights to purchase warrants to purchase an aggregate of 1,350,000 shares of common stock at $1.85 per share, which rights to purchase warrants do not require shareholder approval. The $0.01 warrants became exercisable once the Company’s common stock closed at not less than $3.50 per share on at least ten consecutive trading days. This condition was met in December 2014. The $1.85 warrants contained this condition which has been met, but 1,250,000 of the $1.85 warrants also are conditioned upon the acquisition by the Company of at least one of certain real estate properties owned by entities controlled by one of the Company’s directors, Vincent J. Mesolella. When exercisable, the warrants are exercisable through December 31, 2024. The grant-date fair value of these warrants was $5,144,229, or a weighted-average fair value of $1.91 per share, determined by the Black-Scholes option pricing model using the following weighted-average assumptions: expected future stock volatility of 147%; risk-free interest rate of 1.49%; dividend yield of 0% and an expected term of 5.0 years. The expected future stock volatility was based on the combined volatility of Acquired Sales’ stock and two peer companies’ stock volatilities. The risk-free interest rate was based on the U.S. Federal treasury rate for instruments due over the expected term of the warrants. The expected term of each warrant was based on the midpoint between the date the warrant vests and the contractual term of the warrant. On November 28, 2014, the Company’s Chief Executive Officer and directors were also issued rights to purchase warrants, which do not require shareholder approval, to purchase an aggregate of 1,350,000 shares of common stock of the Company at the same price per share of Acquired Sales’ stock paid by the investor(s) in the planned capital raise of at least $15,000,000 by May 31, 2015 to fund the cash portion of the PPV merger consideration (the “Capital Raise Price Per Share”), with the exercise of 1,250,000 of these warrants being conditioned upon the acquisition by the Company of four real estate properties owned by entities controlled by one of the Company’s directors, Vincent J. Mesolella. The fair value of the warrants estimated by a valuation firm, date of grant, using a assumed the performance be If such met, compensation compensation value of the warrants On July 20, 2015, the board of directors of the Company agreed and acknowledged that all of the rights to purchase warrants, granted to members of the board of directors of the Company, 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 the Company, exercisable into 1,350,000 shares of the Company have been terminated, and no compensation expense related to these warrants has been recognized to date. The following is a summary of share-based compensation, stock option and warrant activity as of December 31, 2016 and changes during the year then ended: Shares Weighted-Average Exercise Price (a) Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding, December 31, 2015 4,848,774 $ 1.56 Exercised options 100,000 $ - Outstanding, December 31, 2016 4,748,774 $ 1.59 5.66 $ 1,361,475 Exercisable, December 31, 2016 3,498,774 $ 1.50 4.82 $ 1,361,475 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 6 - Income Taxes

Note 6 - Income Taxes	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 6 - Income Taxes	NOTE 6 – INCOME TAXES During the years ended December 31, 2016 and 2015, the Company did not incur any current tax on its continuing operations and there was no deferred tax provision or benefit from continuing operations at the federal level or at the state level in Nevada. At December 31, 2016, the Company has U.S. Federal net operating loss carry forwards of $1,908,232 that will expire in 2030 through 2034 if not used by those dates. As of December 31, 2016, the Company had no unrecognized tax benefits that, if recognized, would affect the Company’s effective income tax rate over the next 12 months. The Company currently believes that all significant filing positions are highly certain and that all of its significant income tax filing positions and deductions would be sustained upon audit. Therefore, the Company has no significant reserves for uncertain tax positions and no adjustments to such reserves were required by generally accepted accounting principles. The Company’s policy is to recognize accrued interest and penalties related to unrecognized tax benefits in the provision for income taxes. The Company’s tax returns are subject to examination for the years ended December 31, 2011 through 2015. A reconciliation of the amount of tax benefit computed using the U.S. federal statutory income tax rate to the provision for income taxes on continuing operations is as follows: For the Years Ended December 31, 2016 2015 Tax expenses (benefit) at statutory rate (34%) $ (61,862) $ (398,099) State tax benefit, net of federal benefit (6,004) (38,639) Non-deductible expenses 532 2,108 Revision of prior years' deferred tax assets (1,866) (27,828) Change in estimated future income tax rates - - Change in valuation allowance 69,200 462,458 Provision for Income Taxes $ - $ - The tax effects of temporary differences and carry forwards that gave rise to the net deferred income tax asset as of December 31, 2016 and 2015 were as follows: December 31, 2016 2015 Operating loss carry forwards 713,555 644,437 Stock-based compensation 2,874,127 2,874,127 Allowance on Loan Loss - - Other 233 233 Less: Valuation allowance (3,587,915) (3,518,797) Net Deferred Income Tax Asset $ - $ - The deferred tax asset valuation allowance increased by $69,118 and $1,663,406 during the years ended December 31, 2016 and 2015, respectively.

Note 7 - Contingent Contractual

Note 7 - Contingent Contractual Obligations and Commercial Commitments	12 Months Ended
	Dec. 31, 2016
Disclosure Text Block [Abstract]
Note 7 - Contingent Contractual Obligations and Commercial Commitments	NOTE 7 – CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Medical Marijuana in Massachusetts: As discussed in Note 3, 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 December 31, 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	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Note 8 - Subsequent Events	NOTE 8 – SUBSEQUENT EVENTS On July 13, 2018, the Audit Committee, Compensation Committee, and full Board of Directors of AQSP approved by unanimous written consent borrowings by AQSP on the following terms: (1) proceeds of the borrowings will be used to pay professional fees owed to our outside auditors, our stock transfer agent, and our securities counsel, and to pay other obligations of AQSP; (2) the borrowings will be evidenced by promissory notes of AQSP, accruing interest at the rate of 15% annually; (3) the notes will be jointly secured by a first lien security interest in all of the assets of AQSP, pursuant to a security agreement signed by AQSP in favor of the lenders, UCC filings in favor of the lenders, and a pledge to the lenders of the note payable by the William Noyes Webster Foundation Inc. to AQSP; (4) the notes shall be due and payable upon demand by the lenders delivered to AQSP; and (5) for each $1,000 loaned by AQSP on these terms, the lender of such $1,000 shall receive warrants to purchase 1,250 shares of common stock of AQSP, at an exercise price of $0.03 per share, exercisable at the discretion of such lender any time on or before July 16, 2023. As of August 31, 2018, a total of $14,790.70 has been borrowed by AQSP on such terms.

Note 1 - Basis of Presentatio15

Note 1 - Basis of Presentation and Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Policy Text Block [Abstract]
Basis of Presentation	Basis of Presentation Previously, the Company was involved in selling software licenses and hardware, and the provision of consulting and maintenance services. The accompanying financial statements include the accounts and operations of Acquired Sales for all periods presented.
Use of Estimates	Use of Estimates
Income Taxes	Income Taxes
Basic and Diluted Earnings (Loss) Per Common Share	Basic and Diluted Earnings (Loss) Per Common Share For the Year Ended December 31, 2016 2015 Net Loss $ (181,727) $ (870,495) Weighted -Average Shares Outstanding 2,331,745 2,269,648 Basic and Diluted Earnings Loss per Share $ (0.08) $ (0.38) At December 31, 2016, there were 2,048,774 stock options, 478,000 financing warrants and rights to purchase warrants to purchase 2,700,000 shares of the Company’s common stock outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. In comparison, at December 31, 2015, there were 2,148,774 stock options, 478,000 financing warrants and rights to purchase warrants to purchase 2,700,000 shares of the Company’s common stock outstanding 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. Effective January 2017, FASB issued ASU No. 2016-15 “Statement of Cash Flows” (Topic 230). This guidance clarifies diversity in practice on where in the Statement of Cash Flows to recognize certain transactions, including the classification of payment of contingent consideration for acquisitions between Financing and Operating activities. We are currently evaluating the impact that this amendment will have on our financial statements. On January 5, 2017, the FASB issued ASU No. 2017-01, “Clarifying the Definition of a Business” (Topic ASC 805), guidance to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in this ASU provide a screen to determine when an integrated set of assets and activities (collectively referred to as a “set”) is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This screen reduces the number of transactions that need to be further evaluated. If the screen is not met, the amendments require that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and remove the evaluation of whether a market participant could replace the missing elements. This ASU is effective for public business entities in annual periods beginning after December 15, 2017, including interim periods therein. We are currently evaluating the impact that this amendment will have on our financial statements. In May 2017, the FASB issued ASU No. 2017-09, “Compensation – Stock Compensation” (Topic 718) - Scope of Modification Accounting. This ASU clarifies when to account for a change to the terms or conditions of a share-based payment award as a modification. Under the new guidance, modification accounting is required only if the fair value, the vesting conditions, or the classification of the award (as equity or liability) changes as a result of the change in terms or conditions. This ASU is effective prospectively for the annual period ending December 31, 2018 and interim periods within that annual period. We are currently evaluating the impact that this amendment will have on our financial statements.

Note 1 - Basis of Presentatio16

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)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
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 years ended December 31, 2016 and 2015: For the Year Ended December 31, 2016 2015 Net Loss $ (181,727) $ (870,495) Weighted -Average Shares Outstanding 2,331,745 2,269,648 Basic and Diluted Earnings Loss per Share $ (0.08) $ (0.38)

Note 5 - Shareholders' Equity_

Note 5 - Shareholders' Equity: Schedule of Share-based Compensation, Stock Options and Warrant Activity (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
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 December 31, 2016 and changes during the year then ended: Shares Weighted-Average Exercise Price (a) Weighted-Average Remaining Contractual Term (Years) Aggregate Intrinsic Value Outstanding, December 31, 2015 4,848,774 $ 1.56 Exercised options 100,000 $ - Outstanding, December 31, 2016 4,748,774 $ 1.59 5.66 $ 1,361,475 Exercisable, December 31, 2016 3,498,774 $ 1.50 4.82 $ 1,361,475 Note: (a)

Note 6 - Income Taxes_ Schedule

Note 6 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Effective Income Tax Rate Reconciliation	A reconciliation of the amount of tax benefit computed using the U.S. federal statutory income tax rate to the provision for income taxes on continuing operations is as follows: For the Years Ended December 31, 2016 2015 Tax expenses (benefit) at statutory rate (34%) $ (61,862) $ (398,099) State tax benefit, net of federal benefit (6,004) (38,639) Non-deductible expenses 532 2,108 Revision of prior years' deferred tax assets (1,866) (27,828) Change in estimated future income tax rates - - Change in valuation allowance 69,200 462,458 Provision for Income Taxes $ - $ -

Note 6 - Income Taxes_ Schedu19

Note 6 - Income Taxes: Schedule of Deferred Tax Assets (Tables)	12 Months Ended
	Dec. 31, 2016
Table Text Block Supplement [Abstract]
Schedule of Deferred Tax Assets	The tax effects of temporary differences and carry forwards that gave rise to the net deferred income tax asset as of December 31, 2016 and 2015 were as follows: December 31, 2016 2015 Operating loss carry forwards 713,555 644,437 Stock-based compensation 2,874,127 2,874,127 Allowance on Loan Loss - - Other 233 233 Less: Valuation allowance (3,587,915) (3,518,797) Net Deferred Income Tax Asset $ - $ -

Note 1 - Basis of Presentatio20

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 ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Net Loss	$ (181,727)	$ (1,175,880)
Weighted Average Shares Outstanding	2,331,745	2,269,648
Basic and Diluted Earnings Loss per Share	$ (0.08)	$ (0.52)

Note 1 - Basis of Presentatio21

Note 1 - Basis of Presentation and Significant Accounting Policies: Basic and Diluted Earnings (Loss) Per Common Share (Details) - shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,048,774	2,148,774
Financing Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	478,000	478,000
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	2,700,000	2,700,000

Note 2 - Risks and Uncertaint22

Note 2 - Risks and Uncertainties (Details) - USD ($)	Sep. 01, 2015	Dec. 31, 2016	Dec. 31, 2015
Accumulated deficit		$ (13,705,035)	$ (13,523,308)
Net Loss		(181,727)	(1,175,880)
Net Cash Used in Operating Activities		(52,276)	(399,806)
Bad debt expense		$ 0	$ 835,277
Interest receivable {1} | William Noyes Webster Foundation Inc
Bad debt expense	$ 97,427
Secured Promissory Note | William Noyes Webster Foundation Inc
Bad debt expense	$ 737,850

Note 3 - Notes Receivable (Deta

Note 3 - Notes Receivable (Details) - USD ($)	Sep. 01, 2015	Jul. 31, 2015	Jul. 31, 2016	Dec. 31, 2016	Dec. 31, 2015	Oct. 09, 2016	Jul. 14, 2015
Bad debt expense				$ 0	$ 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
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 {1} | William Noyes Webster Foundation Inc
Bad debt expense	$ 97,427
Payment To Consultant | Secured Promissory Note | William Noyes Webster Foundation Inc
Advances		$ 2,500
Unfunded Portion of Note | Secured Promissory Note | William Noyes Webster Foundation Inc
Debt Instrument, Face Amount							$ 897,500

Note 4 - Amounts Owed to Rela24

Note 4 - Amounts Owed to Related Parties (Details) - USD ($)	Dec. 31, 2016	Jun. 21, 2016	Dec. 31, 2015
Non-interest bearing loan	$ 4,000		$ 0
Expense reimbursements	9,684		1,879
Fees and expense reimbursement	43,149		6,053
Chief Executive Officer | Gerard M. Jacobs
Non-interest bearing loan		$ 4,000
Expense reimbursements	9,684		1,879
Independent contractor | William C. Jacobs
Fees and expense reimbursement	$ 43,149		$ 6,053

Note 5 - Shareholders' Equity (

Note 5 - Shareholders' Equity (Details) - USD ($)	1 Months Ended		3 Months Ended	12 Months Ended
	May 18, 2016	Sep. 30, 2011	Mar. 31, 2016	Dec. 31, 2016	Dec. 31, 2015
Stock compensation expense				$ 0	$ 0
Class of Warrant, Outstanding				938,000
Minimum Capital Raise needed to fund PPV Merger				$ 15,000,000
Warrants to Be Issued Upon Acquisition of Real Estate				1,250,000
Warrants expired				1,350,000
Stock Option Agreement | Miss Mimi | Gerard M. Jacobs
Stock granted	100,000	100,000
Purchase price	$ 100	$ 100
Purchase price per share		$ 0.001
Warrants 3
Class of Warrant, Outstanding				1,350,000
Grants in Period, Weighted Average Grant Date Total Fair Value					$ 2,536,472
Expected Future Stock Volatility				147.00%
Risk Free Interest Rate				1.50%
Dividend Yield				0.00%
Expected Term				5 years
Grants in Period, Weighted Average Grant Date Fair Value					$ 1.88
Warrants 1 And 2
Terms of Award					The $0.01 warrants became exercisable once the Company's common stock closed at not less than $3.50 per share on at least ten consecutive trading days. This condition was met in December 2014. The $1.85 warrants contained this condition which has been met, but 1,250,000 of the $1.85 warrants also are conditioned upon the acquisition by the Company of at least one of certain real estate properties owned by entities controlled by one of the Company's directors, Vincent J. Mesolella. When exercisable, the warrants are exercisable through December 31, 2024.
Grants in Period, Weighted Average Grant Date Total Fair Value					$ 5,144,229
Grants in Period, Weighted Average Grant Date Fair Value					$ 1.91
Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Method Used				Black-Scholes option pricing model
Expected Future Stock Volatility				147.00%
Risk Free Interest Rate				1.49%
Dividend Yield				0.00%
Expected Term				5 years
Warrant 1
Class of Warrant, Outstanding				1,350,000
Class of Warrant, Exercise Price of Warrants					0.01
Warrant 2
Class of Warrant, Outstanding				1,350,000
Class of Warrant, Exercise Price of Warrants					$ 1.85
Financing Warrant
Class of Warrant, Outstanding				478,000
Class of Warrant, Exercise Price of Warrants				$ 2.63
Notes Payable to Related Parties | Warrant
Warrants expired			460,000
Weighted Average Remaining Contractual Term				5 months 9 days
Aggregate Intrinsic Value				$ 0

Note 5 - Shareholders' Equity26

Note 5 - Shareholders' Equity: Schedule of Share-based Compensation, Stock Options and Warrant Activity (Details)	12 Months Ended
	Dec. 31, 2016USD ($)$ / sharesshares
Text Block [Abstract]
Options, Outstanding, Beginning Balance	4,848,774
Options, Outstanding, Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 1.56
Exercised options	100,000
Options, Outstanding, Ending Balance	4,748,774
Options, Outstanding, Weighted Average Exercise Price, Ending Balance | $ / shares	$ 1.59
Options, Outstanding, Weighted Average Remaining Term	5 years 7 months 28 days
Options, Outstanding, Intrinsic Value | $	$ 1,361,475
Options, Exercisable	3,498,774
Options, Exercisable, Weighted Average Exercise Price | $ / shares	$ 1.50
Options, Exercisable, Weighted Average Remaining Term	4 years 9 months 25 days
Options, Exercisable, Intrinsic Value | $	$ 1,361,475

Note 6 - Income Taxes (Details)

Note 6 - Income Taxes (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Net Operating Loss Carryforwards	$ 1,908,232
Valuation Allowance, Deferred Tax Asset, Increase, Amount	$ 69,118	$ 1,663,406
Minimum
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2030
Maximum
Operating Loss Carryforwards, Expiration Date	Dec. 31, 2034

Note 6 - Income Taxes_ Schedu28

Note 6 - Income Taxes: Schedule of Effective Income Tax Rate Reconciliation (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Tax expenses (benefit) at statutory rate (34%)	$ (61,862)	$ (398,099)
State tax benefit, net of federal benefit	(6,004)	(38,639)
Non-deductible expenses	532	2,108
Revision of prior years' deferred tax assets	(1,866)	(27,828)
Change in estimated future income tax rates	0	0
Change in valuation allowance	69,200	462,458
Provision for Income Taxes	$ 0	$ 0

Note 6 - Income Taxes_ Schedu29

Note 6 - Income Taxes: Schedule of Deferred Tax Assets (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Text Block [Abstract]
Operating loss carry forwards	$ 713,555	$ 644,437
Stock-based compensation	2,874,127	2,874,127
Allowance on Loan Loss	0	0
Other	233	233
Less: Valuation allowance	(3,587,915)	(3,518,797)
Net Deferred Income Tax Asset	$ 0	$ 0

Note 7 - Contingent Contractu30

Note 7 - Contingent Contractual Obligations and Commercial Commitments (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2016
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
Secured Promissory Note | MVJ Realty, LLC | William Noyes Webster Foundation Inc
Debt Instrument, Increase	$ 23,000
Medical marijuana on Cape Cod | Parere Partners Inc.
Commitments Under Agreements with the Foundation		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

Note 8 - Subsequent Events (Det

Note 8 - Subsequent Events (Details) - Subsequent Event [Member] - USD ($)	Jul. 13, 2018	Aug. 31, 2018
Interest rate	15.00%
Loan	$ 1,000	$ 14,791
Purchase of warrants	1,250
Exercise Price of Warrants	$ 0.03
Maturity date	Jul. 16, 2023