LFTD Partners (LIFD) 10-Q 15 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 15, 2019
Document and Entity Information:
Registrant Name	ACQUIRED SALES CORP.
Registrant CIK	0001391135
SEC Form	10-Q
Period End date	Sep. 30, 2019
Fiscal Year End	--12-31
Tax Identification Number (TIN)	87-0479286
Number of common stock shares outstanding		2,726,669
Filer Category	Non-accelerated Filer
Entity's Reporting Status Current	Yes
Entity Small Business	true
Emerging Growth Company	false
Amendment Flag	false
Entity Shell Company	false
Entity Interactive Data Current	Yes
Entity File Number	000-52102
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Incorporation, State Country Code	NV
Entity Address, Address Line One	31 N. Suffolk Lane, Lake Forest, Illinois
Entity Address, State or Province	IL
Entity Address, Postal Zip Code	60045
City Area Code	847
Local Phone Number	915-2446

CONDENSED BALANCE SHEETS (UNAUD

CONDENSED BALANCE SHEETS (UNAUDITED) - USD ($)	Sep. 30, 2019	Dec. 31, 2018
Current Assets
Cash and Cash Equivalents	$ 4,358,556	$ 0
Prepaid Expenses	833	0
Total Current Assets	4,359,389	0
Investment in Ablis	399,200	0
Investment in Bendistillery and Bend Spirits	1,497,000	0
Note Receivable from CBD LION	300,000	0
Total Assets	6,555,589	0
Accounts Payable - Related Party
Accounts Payable - Related Party - Payable to William C. Jacobs	0	164,417
Accounts Payable - Related Party - Payable to Gerard M. Jacobs	0	24,583
Accounts Payable - Related Party - Payable to Other Related Party	0	4,000
Accounts Payable - Related Party	0	193,000
Trade Accounts Payable	6,985	113,450
Notes Payable - Payable to Joshua A. Bloom	0	20,025
Notes Payable - Payable to Gerard M. Jacobs	0	10,766
Notes Payable - Related Party	0	30,791
Interest - Payable to Joshua A. Bloom	0	914
Interest - Payable to Gerard M. Jacobs	0	467
Interest Payable - Related Party	0	1,381
Preferred Stock Dividends Payable
Series A Convertible Preferred Stock Dividends Payable	94,997	0
Series B Convertible Preferred Stock Dividends Payable	2,232	0
Preferred Stock Dividends Payable	97,229	0
Total Current Liabilities	104,214	338,622
Commitments and Contingencies	0	0
Shareholders' Equity
Preferred stock	156	0
Common Stock, $0.001 par value; 100,000,000 shares authorized; 2,726,669 and 2,369,648 shares outstanding at September 30, 2019 and December 31, 2018, respectively	2,727	2,370
Additional paid-in capital	21,639,131	13,664,697
Accumulated Deficit	(15,190,639)	(14,005,689)
Total Shareholders' Equity (Deficit)	6,451,375	(338,622)
Total Liabilities and Shareholders' Equity	$ 6,555,589	$ 0

CONDENSED BALANCE SHEETS (UNA_2

CONDENSED BALANCE SHEETS (UNAUDITED) (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
Preferred Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	10,000,000	10,000,000
Common Stock, par or stated value	$ 0.001	$ 0.001
Common Stock, shares authorized	100,000,000	100,000,000
Common Stock, shares outstanding	2,726,669	2,369,648
Series A Convertible Preferred Stock
Preferred Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	400,000	400,000
Preferred Stock, shares issued	66,150	0
Preferred Stock, shares outstanding	66,150	0
Series B Convertible Preferred Stock
Preferred Stock, par or stated value	$ 0.001	$ 0.001
Preferred Stock, shares authorized	5,000,000	5,000,000
Preferred Stock, shares issued	90,000	0
Preferred Stock, shares outstanding	90,000	0

CONDENSED STATEMENTS OF OPERATI

CONDENSED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Income Statement [Abstract]
Selling, General and Administrative Expense	$ (61,697)	$ (16,549)	$ (132,919)	$ (50,123)
Stock Compensation Expense	(37,961)	0	(872,147)	(72,500)
Professional Fees	(52,142)	(13,237)	(97,112)	(18,632)
Loss From Operations	(151,800)	(29,786)	(1,102,178)	(141,255)
Other Income
Gain on Settlement	0	0	29,196	0
Interest Income	5,334	0	13,259	0
Interest Expense	0	(5,021)	(27,998)	(5,021)
Total Other Income	5,334	(5,021)	14,457	(5,021)
Loss Before Provision for Income Taxes	(146,466)	(34,807)	(1,087,721)	(146,276)
Provision for Income Taxes	0	0	0	0
Net Loss	$ (146,466)	$ (34,807)	$ (1,087,721)	$ (146,276)
Basic and Diluted Earnings Net Loss per Share	$ (0.06)	$ (0.01)	$ (0.43)	$ (0.06)
Basic and Diluted Weighted Average Number of Common Shares Outstanding:	2,597,302	2,369,648	2,527,576	2,369,648

CONDENSED STATEMENTS OF SHAREHO

CONDENSED STATEMENTS OF SHAREHOLDERS' EQUITY (DEFICIT) (UNAUDITED) - USD ($)	Preferred Stock	Common Stock	Additional Paid-In Capital	Accumulated Deficit	Total
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2017		$ 2,370	$ 13,554,524	$ (13,785,068)	$ (228,174)
Shares, Outstanding, Beginning Balance at Dec. 31, 2017		2,369,648
Net Loss				(20,068)	(20,068)
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2018		$ 2,370	13,554,524	(13,805,136)	(248,242)
Shares, Outstanding, Ending Balance at Mar. 31, 2018		2,369,648
Stock Compensation Expense			72,500		72,500
Net Loss				(91,401)	(91,401)
Stockholders' Equity Attributable to Parent, Ending Balance at Jun. 30, 2018		$ 2,370	13,627,024	(13,896,537)	(267,143)
Shares, Outstanding, Ending Balance at Jun. 30, 2018		2,369,648
Issuance of warrants to purchase common stock			4,550		4,550
Net Loss				(34,807)	(34,807)
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2018		$ 2,370	13,631,574	(13,931,344)	(297,400)
Shares, Outstanding, Ending Balance at Sep. 30, 2018		2,369,648
Stockholders' Equity Attributable to Parent, Beginning Balance at Dec. 31, 2018		$ 2,370	13,664,697	(14,005,689)	(338,622)
Shares, Outstanding, Beginning Balance at Dec. 31, 2018		2,369,648
Exercise of rights to purchase warrants to purchase shares of common stock, Amount		$ 210	1,892		2,102
Exercise of rights to purchase warrants to purchase shares of common stock, Shares		210,000
Issuance of warrants to purchase common stock			26,773		26,773
Issuance of Series A Convertible Preferred Stock for cash, Amount	$ 30		2,989,970		2,990,000
Issuance of Series A Convertible Preferred Stock for cash, Shares	29,900
Series A Preferred Stock dividend payable				(18,552)	(18,552)
Net Loss				(44,440)	(44,440)
Stockholders' Equity Attributable to Parent, Ending Balance at Mar. 31, 2019	$ 30	$ 2,580	16,683,332	(14,068,681)	2,617,261
Shares, Outstanding, Ending Balance at Mar. 31, 2019	29,900	2,579,648
Issuance of Series A Convertible Preferred Stock for cash, Amount	$ 36		3,624,964		3,625,000
Issuance of Series A Convertible Preferred Stock for cash, Shares	36,250
Series A Preferred Stock dividend payable				(26,425)	(26,425)
Stock Compensation Expense			834,186		834,186
Net Loss				(896,815)	(896,815)
Stockholders' Equity Attributable to Parent, Ending Balance at Jun. 30, 2019	$ 66	$ 2,580	21,142,482	(14,991,921)	6,153,207
Shares, Outstanding, Ending Balance at Jun. 30, 2019	66,150	2,579,648
Exercise of warrants, Amount		$ 147	8,778		8,925
Exercise of warrants, Shares		147,021
Issuance of Series B Convertible Preferred Stock for cash, Amount	$ 90		449,910		450,000
Issuance of Series B Convertible Preferred Stock for cash, Shares	90,000
Series A Preferred Stock dividend payable				(50,020)	(50,020)
Series B Preferred Stock dividend payable				(2,232)	(2,232)
Stock Compensation Expense			37,961		37,961
Net Loss				(146,466)	(146,466)
Stockholders' Equity Attributable to Parent, Ending Balance at Sep. 30, 2019	$ 156	$ 2,727	$ 21,639,131	$ (15,190,639)	$ 6,451,375
Shares, Outstanding, Ending Balance at Sep. 30, 2019	156,150	2,726,669

CONDENSED STATEMENT OF CASH FLO

CONDENSED STATEMENT OF CASH FLOWS (UNAUDITED) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash Flows From Operating Activities
Net Loss	$ (1,087,721)	$ (146,276)
Adjustments to Reconcile Loss to Net Cash Used in Operating Activities:
Financing Cost - Issuance of Warrants to Purchase Common Stock	26,773	4,550
Stock Compensation Expense	872,147	72,500
Changes in Operating Assets and Liabilities:
Prepaid Expenses	(833)	0
Accounts Payable to Related Parties	(191,776)	50,075
Trade Accounts Payable	(106,465)	3,889
Net Cash Used in Operating Activities	(487,875)	(15,262)
Cash Flows From Investing Activities
Investment in Ablis	(399,200)	0
Investment in Bendistillery and Bend Spirits	(1,497,000)	0
Note Receivable From CBD Lion	(300,000)	0
Net Cash Used in Investing Activities	(2,196,200)	0
Cash Flows From Financing Activities
Financing Cost - Proceeds From Borrowing Under Notes Payable to Related Parties	14,772	14,791
Financing Cost - Repayment of Borrowings Under Notes Payable to Related Parties	(45,562)	0
Financing Cost - Repayment of Interest Payable to Related Parties	(2,606)	0
Financing Cost - Interest Payable to Related Parties	0	471
Exercise of Warrants	11,027	0
Issuance of Series A Convertible Preferred Stock	6,615,000	0
Issuance of Series B Convertible Preferred Stock	450,000	0
Net Cash Provided by Financing Activities	7,042,631	15,262
Net Increase/(Decrease) in Cash	4,358,556	0
Cash and Cash Equivalents at Beginning of Year	0	0
Cash and Cash Equivalents at End of Year	4,358,556	0
Supplemental Cash Flow Information
Cash paid for interest	2,606	0
Cash paid for income taxes	$ 0	$ 0

Note 1 - Description Of The Bus

Note 1 - Description Of The Business Of Acquired Sales Corp.	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
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”, the “Company”, “AQSP”, “Acquired”, the “Company”, “we”, “us”, “our”, etc.) was organized under the laws of the State of Nevada on January 2, 1986. The Company does not currently have any business or any sources of revenue. For the past many years, the Company’s stated objective has been to acquire all or a portion of one or more operating businesses. In the past year, the Company has been exploring potential acquisitions of all or a portion of one or more operating businesses involving the manufacture and sale of cannabidiol (CBD)-infused products such as beverages, muscle/joint rubs, oils, tinctures, bath bombs, isolate, relief balms, elixirs, body washes, med sticks, lotions, vape pens, vape cartridges, shatter, gummies, pet food, soap and edibles (a “CBD-Infused Products Company”). In order to consummate or to enhance a particular acquisition of a CBD-Infused Products Company, management of the Company is open-minded to the concept of also acquiring all or a portion of one or more operating businesses and/or assets that are related to such CBD-Infused Products Company or that enhance such CBD-Infused Products Company, for example operating businesses and/or assets involving distilled spirits, beer, wine, hemp growing, hemp processing/extraction, paraphernalia, cannabis, tetrahydrocannabinol (THC)-infused products, marijuana growing, marijuana dispensaries, and real estate. The Company has entered into agreements with a number of operating business to acquire some or all of the businesses. Merger Agreement – CBD Lion LLC On August 15, 2019, the Company, along with GJacobs and WJacobs, entered into an Agreement and Plan of Merger ("Merger Agreement") with CBD Lion LLC (“Lion”) and its owners to, subject to a number of conditions, acquire 100% of the ownership of Lion in a merger (the “Merger”). On November 14, 2019, the Company terminated the Merger Agreement with Lion. See Note 9 “Subsequent Events”. Letter of Intent – Warrender Enterprise Inc. d/b/a Lifted Liquids On May 23, 2019, the Company entered into a Letter of Intent with Warrender Enterprise Inc. d/b/a Lifted Liquids (“Lifted”), and its owner Nicholas S. Warrender to, subject to a number of conditions, acquire 100% of the ownership of Lifted. The consideration to be paid by the Company in the proposed purchase of Lifted is (i) cash in the amount of $7,500,000; and (ii) equity in the amount of 4,545,455 shares of the Company’s common stock (“Stock Consideration”). In the event that the acquisition of Lifted occurs, Warrender shall, subject to certain conditions, enjoy so-called “piggyback registration rights” in regard to the Stock Consideration, and provided further that Warrender shall enjoy so-called "demand registration rights" in regard to the Stock Consideration if no piggyback registration statement is filed with the SEC within 120 days following the closing of the proposed acquisition. Closing of the acquisition of Lifted is subject to a number of conditions, including but not limited to the completion of a due diligence investigation of Lifted by the Company that is acceptable to the Company, completion of a capital raise by us of at least $9 million, completion of an audit of Lifted acceptable to the Company, execution of definitive acquisition documents, execution of an employment agreement with Nicholas S. Warrender, obtaining necessary third-party approvals, including a tax opinion to be provided by Lifted’s tax counsel indicating that the proposed acquisition will qualify as a tax-free merger, execution of a shareholders agreement among GJacobs, WJacobs, Nicholas S. Warrender and Erik S. Lundgren, and completion of all necessary securities filings. In the event that most of the foregoing conditions are met, as detailed in the Letter of Intent, prior to the closing of the proposed acquisition, but only if the Company is requested by Lifted in writing to do so, the Company will make a $300,000 loan to Lifted to be used by Lifted exclusively for growth capital. The Company is currently engaged in due diligence of Lifted, Lifted’s financial statements are currently being audited and the Company is negotiating a definitive merger agreement for the proposed acquisition. The Letter of Intent is subject to termination if (i) no audit of Lifted satisfactory to the Company has been delivered by September 30, 2019; (ii) the Company fails to raise $9 million by October 31, 2019; or (iii) the proposed acquisition has not closed by November 30, 2019 (or such other date as mutually agreed by the parties). The Letter of Intent contains customary provisions prohibiting Lifted from soliciting or encouraging any other acquisition proposal or entering into any negotiations or agreements for an alternative acquisition transaction prior to the termination of the Letter of Intent. In the event that the proposed acquisition of Lifted is completed, the Letter of Intent requires that Lifted shall operate as a wholly-owned subsidiary of the Company under the Lifted brand, led by Nicholas S. Warrender as Lifted’s CEO. The terms of the proposed Lifted Liquids transaction must be set forth in a definitive agreement. There are no assurances that the Company will be successful in negotiating an acceptable definitive agreement, when or whether a definitive agreement will be reached between the parties, or that the proposed acquisition will be consummated. Even if a definitive agreement is executed, the terms of the proposed acquisition may change materially from the terms set forth in the Letter of Intent. There will be many conditions to closing, many of which are outside of the parties’ control and the Company cannot predict whether these conditions will be satisfied. There are no assurances when or if closing will occur, even if the parties successfully negotiate and sign a definitive agreement. Acceptance of Subscriptions From Accredited Investors to Purchase Newly Issued Series A Convertible Preferred Stock (“Series A Preferred Stock”) Between February 27, 2019 and May 13, 2019, the Company accepted subscriptions from accredited investors to purchase 66,150 shares of newly issued Series A Preferred Stock for an aggregate purchase price of $6,615,000 in cash. These 66,150 shares of Series A Preferred Stock are convertible at the option of the holders into 6,615,000 shares of newly issued common stock of the Company, or $1.00 per share of common stock of the Company. The Company has covenanted to file a registration statement covering the shares of newly issued common stock of the Company into which the Series A Preferred Stock can be converted (the "Registration Statement"). The Series A Preferred Stock will receive an annual dividend, and will be subject to mandatory conversion, under terms and conditions set forth in the Certificate of Designation of the Series A Preferred Stock. Acceptance of Subscriptions From Accredited Investors to Purchase Newly Issued Series B Convertible Preferred Stock (“Series B Preferred Stock”) On June 28, 2019, the Company commenced a private placement to accredited investors, offering to sell up to 5,000,000 shares of Series B Preferred Stock convertible into 5,000,000 shares of our common stock at an exercise price of $5.00 per share. As of the date of this report, the Company has accepted subscriptions from three accredited investors to purchase 90,000 shares of Series B Preferred Stock for an aggregate purchase price of $450,000 in cash, convertible at the option of the holder into 90,000 shares of newly issued common stock of the Company, or $5.00 per share of common stock of the Company. Stock Sale and Purchase Agreement - Ablis Holding Company On April 30, 2019, the Company entered into a Stock Sale and Purchase Agreement with Ablis Holding Company, an Oregon corporation (“Ablis HC”), Ablis, Inc., an Oregon corporation (“Ablis”), and James A. Bendis (“ Bendis paid $399,200 for a post transaction 4.99% ownership of Ablis HC’s equity. Ablis HC is in the business of manufacturing and sale of CBD-infused beverages, and CBD-infused products. The Stock Sale and Purchase Agreement requires that Ablis HC use a portion of the purchase proceeds to pay off at least $381,000 of its liabilities. The Stock Sale and Purchase Agreement also sets out terms for an additional equity purchase of Ablis HC such that the Company may purchase up to an additional 15% of Ablis HC for $1,200,000 so that the Company would then own 19.99% of the ownership equity of Ablis HC. However, the option to purchase the additional equity in the company expired on July 31, 2019. As a result, the Company does not have a contractual right to purchase any more of Ablis HC than 4.99%. The terms of the Stock Sale and Purchase Agreement entitle Gerard M. Jacobs (“GJacobs”), CEO of the Company, to be a member of the board of directors of Ablis HC and entitles William C. Jacobs (“WJacobs), President and CFO of the Company, to be provided with access to financial information and grants WJacobs financial oversight functions over Ablis HC. It further allows WJacobs the right to provide consulting/advisory services. WJacobs’ reasonable expenses will be covered by Ablis HC. The Stock Sale and Purchase Agreement also requires that GJacobs and WJacobs be introduced to the owners of Ablis’ CBD isolate suppliers, and any other companies in the hemp, CBD and cannabis industries with whom Ablis HC and/or Bendis have relationships, and whom may potentially be interested in entering into a stock sale or merger with the Company. The Stock Sale and Purchase Agreement requires that Ablis HC evaluate and seriously consider a sale of Ablis HC or taking Ablis HC public within 60 months from April 30, 2019 and that it use commercially reasonable best efforts, to close a mutually acceptable alternative exit opportunity for the Company within 72 months from April 30, 2019. Stock Purchase Agreement Bendistillery Inc. and Bend Spirits On April 30, 2019, the Company, GJacobs, and WJacobs entered into a Stock Purchase Agreement with Bendistillery Inc., an Oregon corporation (“Bendistillery”), Bend Spirits, Inc., an Oregon corporation (“Bend Spirits”), Bendis Homes Pinehurst, LLC, an Oregon limited liability company (“Landowner”), Bendis, and Alan T. Dietrich (“Dietrich”) wherein the Company paid $1,347,300 for a post transaction 4.99% ownership of Bendistillery’s equity and $149,700 for a post transaction 4.99% ownership of Bend Spirits’ equity. Bendistillery and Bend Spirits are in the business of manufacturing and sale of alcoholic beverages, CBD-infused beverages, and CBD-infused products. The Stock Purchase Agreement requires that Bendistillery and Bend Spirits use a portion of the purchase proceeds to pay off at least $835,000 of their collective liabilities. The Stock Purchase Agreement also sets out terms for an additional equity purchase of Bendistillery such that the Company may purchase up to an additional 15% of Bendistillery for $4,050,000 so that the Company would then own 19.99% of the ownership equity of Bendistillery. Per the terms of the Agreement, the Company may also purchase up to an additional 15% of Bend Spirits for $450,000 such that the Company would then own 19.99% of the ownership equity of Bend Spirits. However, the option to purchase the additional equity in the company expired on July 31, 2019. As a result, the Company does not have a contractual right to purchase any more of Bendistillery or Bend Spirits than 4.99%. In addition, any purchase of by the Company of more than 4.99% of Bendistillery or Bend Spirits would require approval by the Oregon Liquor Control Commission. Landowner (as landlord) and Bendistillery (as tenant) have entered into a long-term recorded lease (the “Lease”) of the 23 acres in Tumalo outside Bend, Oregon, where Bendistillery and Bend Spirits conduct their businesses (the “Real Estate”) The initial term of the Lease is 20 years at a rent of $17,500 per month; Tenant has the right, in its sole discretion, to exercise a series of options to extend the term of the Lease up to a maximum of 99 years; and Tenant has a 60-day right of first refusal if Landowner ever decides to sell all or any portion of the Real Estate. Bendis is the owner of Landowner. The terms of the Stock Purchase Agreement entitle GJacobs to be a member of the board of directors of Bendistillery and Bend Spirits and entitles WJacobs to be provided with access to financial information. The Stock Purchase Agreement also grants WJacobs financial oversight functions over Bendistillery and Bend Spirits and allows WJacobs the right to provide consulting/advisory services. WJacobs’ reasonable expenses will be covered by Bendistillery and Bend Spirits as well as an advisory fee of not less than $5,000 per quarter. The Stock Purchase Agreement also requires that GJacobs and WJacobs be introduced to the owners of Deschutes Brewery, Silver Moon Brewing, LBD Beverage, and any other companies in the distilled spirits, beer, wine, hemp, CBD and cannabis industries with whom Bendistillery, Bend Spirits, Bendis and/or Dietrich have relationships, and whom may potentially be interested in entering into a stock sale or merger with the Company. The Stock Purchase Agreement requires that Bendistillery and Bend Spirits evaluate and seriously consider a sale of Bendistillery and Bend Spirits or taking them public within 60 months from April 30, 2019 and that they use commercially reasonable best efforts, to close a mutually acceptable alternative exit opportunity for the companies within 72 months from April 30, 2019. Acquisition Process The structure of the Company’s participation in business opportunities and ventures will continue to be situational. The Company is likely to structure future acquisitions as a purchase of 19.99% or less, or 50.01% or more, of a target company’s equity ownership interest, or as a so-called tax-free reorganization. It is likely that the anticipated value of the business and/or securities that the Company acquires relative to the current value of the Company’s securities will result in the issuance of a relatively large number of newly issued shares of the Company, and, as a result, substantial additional dilution to the percentage ownership of our current stockholders. Moreover, the Company’s present management and shareholders may not have control of a majority of our voting shares following a merger or purchase of stock. It is possible that the shareholders of the acquired entity or the persons who provide the capital to the Company to finance a merger or purchase of stock will gain control of the Company’s voting stock and the Company’s directors may resign and new directors may be appointed without any vote by the shareholders. Those directors are entitled to replace the Company’s officers without stockholder vote. In regard to nearly all of the Company’s potential acquisitions, the Company is typically focused upon acquiring 19.99% or less, or 50.01% or more, of existing privately held businesses whose owners are willing to consider selling a percentage of the equity ownership interest of their businesses, or merging their entire businesses into the Company or a wholly-owned subsidiary of the Company in a so-called tax-free reorganization, and whose management teams are enthusiastic about continuing to operate their businesses following the transactions with the Company. Closing such purchases of stock or so-called tax-free reorganizations will likely require the Company to raise millions of dollars of capital, in order to pay the cash portion of the transaction consideration. The Company can provide no assurance or guaranty whatsoever that it will be able to raise such millions of dollars of capital on acceptable terms and conditions, if at all. An Investment Committee appointed by the Company’s Board of Directors, currently consisting of GJacobs, director Thomas W. Hines, CPA CFA, and WJacobs, CPA, will review material furnished to it and will vote whether or not the Investment Committee believes a potential acquisition is in the Company’s best interests and the interests of the Company’s shareholders. If the Investment Committee votes unanimously to approve a potential acquisition, then such acquisition will be presented to the Board of Directors of the Company for their review and a vote. The Company does not intend to proceed forward with a potential acquisition without the unanimous approval of the Investment Committee and approval by a majority of the Company’s Board of Directors. The Company intends to source acquisition opportunities through GJacobs and directors and their contacts, and in some cases through finders. These contacts include the shareholders of Lifted, Ablis, professional advisors such as attorneys and accountants, securities broker dealers, venture capitalists, members of the financial community, other businesses and others who may present solicited and unsolicited proposals. Management believes that business opportunities may become available to us due to a number of factors, including, among others: (1) the Company’s ownership of shares in one or more CBD-Infused Products Companies; (2) management’s historical experience building large public companies; (3) management’s contacts and acquaintances; and (4) the Company’s flexibility with respect to the manner in which the Company may be able to structure, finance, merge with or acquire any business opportunity. The analysis of new business opportunities will be undertaken by or under the supervision of the Investment Committee appointed by our Board of Directors. Inasmuch as the Company will have limited funds available to search for business opportunities, the Company will not be able to expend significant funds on a complete and exhaustive investigation of such business or opportunity. The Company will, however, investigate, to the extent believed reasonable by the Investment Committee, such potential business opportunities by conducting a so-called “due diligence investigation”. In a due diligence investigation, the Company intends to obtain and review materials regarding the business opportunity. Typically, such materials will include information regarding a target business’ products, services, contracts, management, ownership, and financial information. In addition, the Company intends to cause the Investment Committee to meet personally with management and key personnel of target businesses, ask questions regarding the target businesses’ prospects, tour facilities, and conduct other reasonable investigation of the target businesses to the extent of the Company’s limited financial resources and management and technical expertise. There is no guarantee that the Company can obtain or maintain the funding needed for its operations, including the funds necessary to search for and investigate acquisition candidates, and to close an acquisition including paying the substantial costs of legal, accounting and other relevant professional services. As of November 15, 2019, the Company has cash on hand of approximately $4,312,165, which are proceeds from the sale of Series A Preferred Stock between February 27, 2019 and May 13, 2019, and proceeds from the sale of Series B Preferred Stock starting on June 28, 2019. In prior years, the Company’s payables have been greater than their cash on hand. The Company has inconsistent income generating ability and is therefore reliant on raising money from loans or stock sales.

Note 2 - Basis of Presentation

Note 2 - Basis of Presentation and Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Disclosure Text Block [Abstract]
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 For the Three Months For the Nine Months Ended Ended September 30, September 30, 2019 2018 2019 2018 Net Loss $ (146,466) $ (34,807) $ (1,087,721) $ (146,276) Weighted-Average Shares Outstanding 2,597,302 2,369,648 2,527,576 2,369,648 Basic and Diluted Earnings Loss per Share $ (0.06) $ (0.01) $ (0.43) $ (0.06) At September 30, 2019, there were 4,211,019 stock options and warrants, and 31,250 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, at September 30, 2018, there were 4,181,415 stock options and warrants, and 17,500 financing warrants outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. The Company has Series A Preferred Stock Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, “Leases” (Topic 842) (“ASU 2016-02”). The amended guidance, which is effective for the Company on January 1, 2019, requires the recognition of lease assets and lease liabilities on the balance sheet for those leases with terms in excess of 12 months and currently classified as operating leases. Disclosure of key information about leasing arrangements will also be required. The Company recently adopted and implemented ASC 842; however, it had no direct impact on the Company’s operations.

Note 3 - Risks and Uncertaintie

Note 3 - Risks and Uncertainties	9 Months Ended
	Sep. 30, 2019
Disclosure Text Block [Abstract]
Note 3 - Risks and Uncertainties	NOTE 3 – RISKS AND UNCERTAINTIES Going Concern Also, the Company has Series A Preferred Stock and Series B Preferred Stock outstanding that is currently accruing dividends at the rate of 3% per year. The Company has no income to pay these dividends. The Company does not have any business or any sources of revenue to pay these dividends or its other operating expenses. 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 - The Company's Investme

Note 4 - The Company's Investments In Ablis, Bendistillery And Bend Spirits	9 Months Ended
	Sep. 30, 2019
Notes to Financial Statements
Note 4 - The Company’s Investments In Ablis, Bendistillery And Bend Spirits	NOTE 4 – THE COMPANY’S INVESTMENTS IN ABLIS, BENDISTILLERY AND BEND SPIRITS The Company’s investments in Ablis, Bendistillery and Bend Spirits made the Company a minority owner of these companies. As a minority owner, the Company will not be able to recognize any portion of Ablis’, Bendistillery’s or Bend Spirits’ revenues or

Note 5 - Notes Receivable

Note 5 - Notes Receivable	9 Months Ended
	Sep. 30, 2019
Disclosure Text Block [Abstract]
Note 5 - Notes Receivable	NOTE 5 – NOTES RECEIVABLE Loan Made to CBD Lion LLC (“Lion”) On August 8, 2019, the Company made an unsecured $300,000 loan to Lion (the “Loan”) evidenced by a promissory note (the “Note”) in connection with the proposed Merger Agreement with Lion. Per the terms of the Note, if the Transaction does not close and the merger agreement is terminated, then the Loan shall be repaid by Lion to the Company in six equal monthly installments of principal, together with accrued interest at the rate of 6% per year, with the first such installment due and payable by Lion to the Company on the first day of the first calendar month following the termination of the merger agreement. As of September 30, 2019, the Transaction had not yet been terminated by the Company. However, the Merger Agreement was terminated by the Company on November 14, 2019 and the Note became payable with interest. See Note 9 “Subsequent Events”. 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 expertise to the Foundation; and (2) Heatley agreed that Heatley shall not, and shall not permit the Foundation to, discuss or negotiate for debt or equity financing, or consulting services or other expertise, from any third party. The Company claims that Heatley violated the Teaming Agreement by discussing and negotiating for debt or equity financing, or consulting services or other expertise, from at least one third party. Heatley claims that the Company violated the Teaming Agreement alleging that the Company failed to lend funds to the Foundation in accordance with the Teaming Agreement. The Company believes Heatley's claim to be baseless. No assurances whatsoever can be made that Heatley will comply with the terms of the Teaming Agreement, nor that the Company will be able to adequately enforce the terms of the Teaming Agreement if it is ever the subject of litigation. 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

Note 6 - Amounts Owed To Relate

Note 6 - Amounts Owed To Related Parties And Third Parties	9 Months Ended
	Sep. 30, 2019
Related Party Transactions [Abstract]
Note 6 - Amounts Owed To Related Parties and Third Parties	NOTE 6 – AMOUNTS OWED TO RELATED PARTIES AND THIRD PARTIES Consulting Salaries to be Paid to GJacobs and WJacobs Effective as of June 19, 2019, the Company, GJacobs and WJacobs entered into a compensation agreement relating to service to the Company. GMJ and WCJ receive consulting fees of $7,500 per month and $5,000 per month, respectively. Amounts Owed to Related Parties On June 21, 2016, a company affiliated with GJacobs made a non-interest bearing loan of $4,000 to the Company, which was payable upon demand. This loan was outstanding at September 30, 2018, but was not outstanding as of September 30, 2019. At September 30, 2019, there were no expense reimbursements owed to GJacobs. In comparison, at September 30, 2018, there were expense reimbursements owed GJacobs totaling $18,746. There were no independent contractor fees or expense reimbursements owed to WJacobs at September 30, 2019. In comparison, at September 30, 2018, there were independent contractor fees of $145,000 and expense reimbursements of $4,077 owed to WJacobs totaling $149,077. Financing Warrants As of December 31, 2018, a total of $30,791 had been borrowed by the Company on such terms, and warrants to purchase 25,000 shares of common stock of the Company had been issued to director Joshua A. Bloom and warrants to purchase 12,500 shares of common stock of the Company had been issued to the Company's CEO GJacobs. As of December 31, 2018, there was also a total of $1,381 in interest payable to Joshua A. Bloom and GJacobs, related to these borrowings. Between January 7, 2019 and February 6, 2019, an additional $14,772 was lent by GJacobs to the Company on such terms, and warrants to purchase 18,750 shares of common stock of the Company were issued to GJacobs. On March 13, 2019, all of these borrowings and the related interest payable to Joshua A. Bloom and GJacobs was repaid. In total, $21,540 was paid to Joshua A. Bloom, and $26,628 was paid to GJacobs. Amounts Owed to Third Parties At September 30, 2019, there were accounts payable of $6,985 owed to third parties for professional fees. In comparison, at September 30, 2018, there were accounts payable of $110,315 owed to third On March 15, 2019, the Company settled and paid its debt of $61,500 to its previous independent registered public accounting firm, Eide Bailly LLP, and the Company recognized a gain on the settlement of $29,196.

Note 7 - Shareholders' Equity

Note 7 - Shareholders' Equity	9 Months Ended
	Sep. 30, 2019
Disclosure Text Block [Abstract]
Note 7 - Shareholders' Equity	NOTE 7 – SHAREHOLDERS’ EQUITY Issuance of Series A Preferred Stock The Company has authorized 400,000 shares of its Series A Preferred Stock. Each share of Preferred Stock may be converted into 100 shares of common stock. The Preferred Stock pays dividends at the rate of 3% annually. The Preferred Stock dividends are cumulative if the Company does not have the necessary cash to pay the dividend when due. The Preferred Stock dividends shall cease to accrue at such time as the Company’s Common Stock has closed at $3.00 per share or higher for 20 consecutive trading days after the first date that the Series A Registration Statement is effective, and there have been, on average, at least 25,000 shares traded on each of those 20 consecutive trading days. The Preferred Stock have no voting rights. The holders of the Preferred Stock shall have voluntary conversion rights. Shares of Preferred Stock are subject to mandatory conversion (in the discretion of the Company) at such time as the Company’s common stock has closed at $5.00 per share or higher for 20 consecutive trading days after the first date that the Series A Registration Statement is effective, and there have been, on average, at least 50,000 shares traded on each of those 20 consecutive trading days. Between February 27, 2019 and May 13, 2019, the Company accepted subscriptions from accredited investors to purchase 66,150 shares of newly issued Series A Preferred Stock for an aggregate purchase price of $6,615,000 in cash. These 66,150 shares of Preferred Stock are convertible at the option of the holders into 6,615,000 shares of newly issued common stock of the Company, or $1.00 per share of common stock of the Company. On August 2, 2019, the Company filed a Form S-1 Series A Registration Statement covering the shares of newly issued common stock of the Company into which the Preferred Stock can be converted. The Series A Registration Statement has not yet been approved by the SEC. The Preferred Stock will receive an annual dividend, and will be subject to mandatory conversion, under terms and conditions set forth in the Certificate of Designation of the Preferred Stock. As of September 30, 2019, the Company has accrued a liability of $94,997 as dividends payable to holders of the Series A Preferred Stock. Although no dividends have been declared by the Board of Directors, the Company fully intends on paying the annual dividends to the holders of the Series A Preferred Stock, and as such, the Company has accrued the liability. Issuance of Series B Preferred Stock The Company has authorized 5,000,000 shares of its Series B Preferred Stock. Each share of Preferred Stock may be converted into one share of common stock. The Preferred Stock pays dividends at the rate of 3% annually. The Preferred Stock dividends are cumulative if the Company does not have the necessary cash to pay the dividend when due. The Preferred Stock dividends shall cease to accrue at such time as the Company’s Common Stock has closed at $7.00 per share or higher for 20 consecutive trading days after the first date that the Series B Registration Statement is effective, and there have been, on average, at least 25,000 shares traded on each of those 20 consecutive trading days. The Preferred Stock have no voting rights. The holders of the Preferred Stock shall have voluntary conversion rights. Shares of Preferred Stock are subject to mandatory conversion (in the discretion of the Company) at such time as the Company’s common stock has closed at $9.00 per share or higher for 20 consecutive trading days after the first date that the Series B Registration Statement is effective, and there have been, on average, at least 50,000 shares traded on each of those 20 consecutive trading days. On June 28, 2019, we commenced a private placement to accredited investors, offering to sell up to 5,000,000 shares of Series B Preferred Stock convertible into 5,000,000 shares of our common stock at an exercise price of $5.00 per share. As of the date of this report, the Company has accepted subscriptions from three accredited investors to purchase 90,000 shares of Series B Preferred Stock for an aggregate purchase price of $450,000 in cash, convertible at the option of the holder into 90,000 shares of newly issued common stock of the Company, or $5.00 per share of common stock of the Company. As of September 30, 2019, the Company has accrued a liability of $2,232 as dividends payable to holders of the Series B Preferred Stock. Although no dividends have been declared by the Board of Directors, the Company fully intends on paying the annual dividends to the holders of the Series B Preferred Stock, and as such, the Company has accrued the liability. Issuance of Financing Warrants During the quarter ended March 31, 2019, a total of $14,772 was borrowed by AQSP on such terms from GJacobs, and warrants to purchase 18,750 shares of common stock of AQSP were issued to GJacobs. The warrants to purchase common stock that were issued to GJacobs during the quarter ended March 31, 2019 were valued using the Black-Scholes valuation model as of the date they were issued. The values of these warrants were fully expensed because the notes are payable upon demand. The expense recognized related to the issuance of the warrants to GJacobs during the quarter ended March 31, 2019 was $26,773, which was a debit to interest expense and credit to additional paid-in capital. Share-Based Compensation In comparison, there was $72,500 of share-based compensation recognized during the six months ended June 30, 2018. On April 1, 2018, the Company issued to a director and to an independent contractor rights to purchase warrants, for an aggregate purchase price of $2.00, an aggregate of 250,000 shares of common stock of the Company, at an exercise price of $0.01 per share, such warrants to be fully vested and to be exercisable on or prior to December 31, 2024; we recorded stock compensation expense of $72,500 related to these rights to purchase warrants during the three and six months ended June 30, 2018. Stock Option and Warrant Activity Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price (a) Term (Years) Value Exercisable Options, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, December 31, 2018 2,923,632 $ 0.87 4.93 $ 2,410,100 Financing Warrants Issued During Q1 2019 18,750 Warrants Granting the Right to Purchase Shares of Common Stock Issued During Q2 2019 410,942 Options that Expired During Q2 2019 (9,434) Rights to Purchase Warrants to Purchase Shares of Common Stock Exercised During Q1 2019 (210,000) Warrants Granting the Right to Purchase Shares of Common Stock Issued During Q3 2019 5,400 Warrants exercised during Q3 2019 (147,021) Exercisable Options, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, September 30, 2019 2,992,269 $ 0.97 3.72 $ 8,444,074 Outstanding Options, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants, September 30, 2019 4,242,269 $ 1.23 4.17 $ 10,881,574 Exercise of Warrants On July 25, 2019, a warrant holder exercised his warrant to purchase 7,021 shares of common stock of the Company for a purchase price of $7,021. On September 23, 2019, directors Joshua A. Bloom, James S. Jacobs and Richard E. Morrissy exercised their rights to purchase, for an aggregate purchase price of $4, warrants to purchase a total of 115,000 shares of unregistered shares of common stock of the Company at an exercise price of $0.01 per share (total of $1,150), and they immediately exercised those warrants. Joshua A. Bloom also exercised warrants to purchase an aggregate of 25,000 shares of unregistered shares of common stock of the Company at an exercise price of $0.03 per share.

Note 8 - Contingent Contractual

Note 8 - Contingent Contractual Obligations and Commercial Commitments	9 Months Ended
	Sep. 30, 2019
Disclosure Text Block [Abstract]
Note 8 - Contingent Contractual Obligations and Commercial Commitments	NOTE 8 – CONTINGENT CONTRACTUAL OBLIGATIONS AND COMMERCIAL COMMITMENTS Payment of Finders’ Fees Related to Ablis The Company has agreed to pay finders’ fees to two finders in regard to the potential purchase of an additional 15% of the stock of Ablis. The Company has agreed to pay those two finders additional warrants to purchase shares of common stock of the Company at an exercise price of $1 per share exercisable at any time on or before April 30, 2024; in the event that the Company closes on the purchase of up to an additional 15% of the common stock of Ablis, then the total amount of such warrants will be 2,814 unregistered shares of common stock of AQSP at an exercise price of $1 per share for each additional one percent of Ablis’ common stock so purchased (a maximum issuance of warrants to purchase an aggregate of 42,210 unregistered shares of common stock of the Company at an exercise price of $1 per share). Payment of Brokers’ Fees Related to the Sale of Preferred Stock The Company has committed to pay brokers’ fees in regard to the capital being raised for the Company by such brokers in the Company’s private placements of preferred stock, such fee to consist of warrants to purchase unregistered shares of common stock of the Company at an exercise price equal to the conversion price per share of such preferred stock, exercisable at any time during a five year period; the number of such shares will be calculated as six percent of the aggregate capital raised by such brokers in the private placement of preferred stock divided by the conversion price per share of such preferred stock. Potential Issuance of Warrants to Purchase Shares of Common Stock of the Company The Compensation Committee of the Company's Board of Directors may, from time to time, recommend that certain warrants to purchase shares of common stock of the Company should be issued to new or current members of the Company’s Board of Directors, to officers and employees of the Company and its subsidiaries, or to members of any advisory board or consultants to the Company. Amounts Payable to Gerard M. Jacobs and William C. Jacobs The Company’s CEO GJacobs runs the Company’s operations on a part-time basis and is compensated with equity. GJacobs has not historically received cash compensation, and, historically, the Company’s President and CFO WJacobs has worked for $5,000 per month. Effective as of June 19, 2019 through the earlier of the closing of the Company’s acquisition of CBD Lion LLC, which is now terminated (see Note 9 “Subsequent Events”) or the closing of the Company’s acquisition of Warrender Enterprise Inc. d/b/a Lifted Liquids, the Company has agreed to pay GJacobs and WJacobs consulting fees of $7,500 and $5,000 per month, respectively. In addition, upon the closing of the acquisition described herein, their salaries, equity incentives, expense reimbursements and bonuses will increase. There are also to be significant bonuses awarded to GJacobs and WJacobs in the event that the Company closes on the acquisition Warrender Enterprise Inc. d/b/a Lifted Liquids, and in the event that the Company raises $15 million and $25 million, as described in the current report on Form 8-K, and its exhibit, filed with the SEC on or about June 25, 2019. Professional Contracts In June 2019, the Company executed annual engagement contracts with its stock transfer agent and its securities attorney.

Note 9 - Subsequent Events

Note 9 - Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Note 9 - Subsequent Events	NOTE 9 – SUBSEQUENT EVENTS The Company has evaluated subsequent events through the date of filing this quarterly report on Form 10-Q and have identified the following for disclosure: Termination of the Merger Agreement Between the Company and CBD Lion LLC On November 14, 2019, the Company terminated the Merger Agreement with Lion. Pursuant to the terms of the Merger Agreement executed on August 15, 2019, the Company agreed to acquire 100% of the ownership of Lion, subject to a number of conditions, for consideration of two million dollars ($2,000,000) in cash, plus five million (5,000,000) shares of unregistered common stock of the Company. To date, the Company has not paid any of the foregoing cash or stock consideration to Lion. The material circumstances surrounding the termination of the Merger Agreement are set out in the letter dated November 14, 2019 from the Company’s legal counsel to Lion. The letter is attached as Exhibit 99.1 to the current report filed on Form 8-K on November 15, 2019. Due to termination of the Merger Agreement, and per Section 5.15 of the Merger Agreement, commencing on December 1, 2019, the Company’s $300,000 loan to Lion is now required to be repaid. The repayment is required by agreement to be made in six equal monthly installments of principal and interest due and payable on the first day of each calendar month. Interest on the principal balance is calculated at an annual rate of 6% commencing as of August 8, 2019.

Note 2 - Basis of Presentatio_2

Note 2 - Basis of Presentation and Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Policy Text Block [Abstract]
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 For the Three Months For the Nine Months Ended Ended September 30, September 30, 2019 2018 2019 2018 Net Loss $ (146,466) $ (34,807) $ (1,087,721) $ (146,276) Weighted-Average Shares Outstanding 2,597,302 2,369,648 2,527,576 2,369,648 Basic and Diluted Earnings Loss per Share $ (0.06) $ (0.01) $ (0.43) $ (0.06) At September 30, 2019, there were 4,211,019 stock options and warrants, and 31,250 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, at September 30, 2018, there were 4,181,415 stock options and warrants, and 17,500 financing warrants outstanding that were excluded from the computation of diluted earnings loss per share because their effects would have been anti-dilutive. The Company has Series A Preferred Stock
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-02, “Leases” (Topic 842) (“ASU 2016-02”). The amended guidance, which is effective for the Company on January 1, 2019, requires the recognition of lease assets and lease liabilities on the balance sheet for those leases with terms in excess of 12 months and currently classified as operating leases. Disclosure of key information about leasing arrangements will also be required. The Company recently adopted and implemented ASC 842; however, it had no direct impact on the Company’s operations.

Note 2 - Basis of Presentatio_3

Note 2 - Basis of Presentation and Significant Accounting Policies: Schedule of Earnings Per Share, Basic and Diluted (Tables)	9 Months Ended
	Sep. 30, 2019
Table Text Block Supplement [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	For the Three Months For the Nine Months Ended Ended September 30, September 30, 2019 2018 2019 2018 Net Loss $ (146,466) $ (34,807) $ (1,087,721) $ (146,276) Weighted-Average Shares Outstanding 2,597,302 2,369,648 2,527,576 2,369,648 Basic and Diluted Earnings Loss per Share $ (0.06) $ (0.01) $ (0.43) $ (0.06)

Note 7 - Shareholders' Equity_

Note 7 - Shareholders' Equity: Schedule of Stock Options and Warrant Activity (Tables)	9 Months Ended
	Sep. 30, 2019
Table Text Block Supplement [Abstract]
Schedule of Stock Options and Warrant Activity	The following is a summary of stock option and warrant activity as of June 30, 2019 and changes during the period then ended: Weighted-Average Aggregate Weighted-Average Remaining Contractual Intrinsic Shares Exercise Price (a) Term (Years) Value Exercisable Options, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, December 31, 2018 2,923,632 $ 0.87 4.93 $ 2,410,100 Financing Warrants Issued During Q1 2019 18,750 Warrants Granting the Right to Purchase Shares of Common Stock Issued During Q2 2019 410,942 Options that Expired During Q2 2019 (9,434) Rights to Purchase Warrants to Purchase Shares of Common Stock Exercised During Q1 2019 (210,000) Warrants Granting the Right to Purchase Shares of Common Stock Issued During Q3 2019 5,400 Warrants exercised during Q3 2019 (147,021) Exercisable Options, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants Outstanding, September 30, 2019 2,992,269 $ 0.97 3.72 $ 8,444,074 Outstanding Options, Rights to Purchase Warrants to Purchase Common Stock and Financing Warrants, September 30, 2019 4,242,269 $ 1.23 4.17 $ 10,881,574

Note 1 - Description Of The B_2

Note 1 - Description Of The Business Of Acquired Sales Corp. (Details) - USD ($)	Aug. 08, 2019	Jun. 28, 2019	May 23, 2019	Apr. 30, 2019	May 13, 2019	Sep. 30, 2019	Nov. 15, 2019	Aug. 15, 2019
Ownership interests				4.99%
Purchse price				$ 399,200
Total ownership percentage				19.99%
Stock Issued During Period, Shares, New Issues						90,000
Stock Issued During Period, Value, New Issues						$ 450,000
Number of preffered stock converted into common stock						66,150
Convertible Preferred Stock, Shares Reserved for Future Issuance						6,615,000
Conversion price						$ 5
Subsequent Event
Cash							$ 4,312,165
GJacobs and WJacobs | Merger Agreement
Ownership interests								100.00%
Accredited investors | Series A Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues					66,150
Stock Issued During Period, Value, New Issues					$ 6,615,000
Number of preffered stock converted into common stock					66,150
Convertible Preferred Stock, Shares Reserved for Future Issuance					6,615,000
Conversion price					$ 1
Acquisition Process description					The Company is likely to structure future acquisitions as a purchase of 19.99% or less, or 50.01% or more, of a target company’s equity ownership interest, or as a so-called tax-free reorganization.
Accredited investors | Series B Preferred Stock [Member]
Stock Issued During Period, Shares, New Issues		90,000
Stock Issued During Period, Value, New Issues		$ 450,000
Number of common stock issued		90,000
Number of common stock sold		5,000,000
Convertible Preferred Stock, Shares Reserved for Future Issuance		5,000,000
Conversion price		$ 5
Exercise price		$ 5
CBD Lion
Cash			$ 7,500,000
Equity			4,545,455
Capital raise			$ 9,000,000			$ 15,000,000
Ownership interests			100.00%
Interest rate	6.00%
Ablis
Additional Ownership interests purchased				15.00%
Payemnt for aadtional equity				$ 1,200,000
Bendistillery
Ownership interests				4.99%
Purchse price				$ 149,700
Total ownership percentage				19.99%
Payemnt for aadtional equity				$ 4,050,000
Bend Spirits
Ownership interests				4.99%
Purchse price				$ 1,347,300
Total ownership percentage				19.99%
Payemnt for aadtional equity				$ 450,000

Note 2 - Basis of Presentatio_4

Note 2 - Basis of Presentation and Significant Accounting Policies: Basic and Diluted Per Share (Details) - USD ($)	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Convertible Preferred Stock, Shares Reserved for Future Issuance	6,615,000
Stock issued for cash , Value	$ 450,000
Stock issued for cash , Shares	90,000
Share Price	$ 5
Stock Option
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,211,019	4,181,415
Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	4,211,019	4,181,415
Financing Warrant
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	31,250	17,500

Note 2 - Basis of Presentatio_5

Note 2 - Basis of Presentation and Significant Accounting Policies: Schedule of Earnings Per Share, Basic and Diluted (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Text Block [Abstract]
Net Loss	$ (146,466)	$ (34,807)	$ (1,087,721)	$ (146,276)
Weighted Average Shares Outstanding	2,597,302	2,369,648	2,527,576	2,369,648
Basic and Diluted Earnings Loss per Share	$ (0.06)	$ (0.01)	$ (0.43)	$ (0.06)

Note 3 - Risks and Uncertaint_2

Note 3 - Risks and Uncertainties (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Text Block [Abstract]
Accumulated deficit	$ (15,190,639)		$ (15,190,639)		$ (14,005,689)
Loss From Operations	$ (151,800)	$ (29,786)	$ (1,102,178)	$ (141,255)

Note 5 - Notes Receivable (Deta

Note 5 - Notes Receivable (Details) - USD ($)	Aug. 08, 2019	Sep. 01, 2015	Jul. 14, 2014	Jul. 31, 2015	May 23, 2019	Apr. 30, 2019	Dec. 31, 2015
Ownership interests						4.99%
William Noyes Webster Foundation Inc | Secured Promissory Note
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
William Noyes Webster Foundation Inc | Secured Promissory Note | Unfunded Portion of Note
Debt Instrument, Face Amount			897,500
William Noyes Webster Foundation Inc | Secured Promissory Note | Payment To Consultant
Advances			$ 2,500
William Noyes Webster Foundation Inc | Interest receivable {1}
Bad debt expense		$ 97,427
CBD Lion
Ownership interests					100.00%
Loan	$ 300,000
Interest rate	6.00%

Note 6 - Amounts Owed To Rela_2

Note 6 - Amounts Owed To Related Parties And Third Parties (Details) - USD ($)	Mar. 15, 2019	Mar. 13, 2019	Jul. 13, 2018	Jun. 19, 2019	Feb. 06, 2019	Dec. 31, 2018	Sep. 30, 2019	Sep. 30, 2018	Jun. 21, 2016
Interest payable						$ 1,381	$ 0
Accounts payable related parties							110,315	$ 6,985
Gerard M. Jacobs
Consulting fees				$ 7,500
Consulting fees Payable							7,500
Due to Other Related Parties, Current									$ 4,000
Due to Related Parties, Current							0	18,746
Long-term Debt, Gross					$ 14,772
Repayment of borrowings		$ 26,628
William C. Jacobs
Consulting fees				$ 5,000
Due to Related Parties, Current						149,077
William C. Jacobs | Expense reimbursements
Due to Related Parties, Current						$ 4,077	0
William C. Jacobs | Independent contractor fees
Due to Related Parties, Current							$ 0	$ 145,000
Eide Bailly LLP
Repayment of debt	$ 61,500
Gain on settlement	$ 29,196
Joshua A. Bloom
Repayment of borrowings		$ 21,540
Warrant 1 | Gerard M. Jacobs
Warrants issued					18,750	12,500
Warrant 1 | Joshua A. Bloom
Warrants issued						25,000
Financing warrants
Debt Instrument, Payment 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.
Long-term Debt, Gross						$ 30,791

Note 7 - Shareholders' Equity (

Note 7 - Shareholders' Equity (Details) - USD ($)	Jul. 13, 2018	Apr. 02, 2018	Oct. 23, 2019	Jul. 25, 2019	Jun. 28, 2019	Sep. 30, 2019	May 13, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Preferred Stock, par or stated value						$ 0.001			$ 0.001		$ 0.001
Preferred Stock, shares authorized						10,000,000			10,000,000		10,000,000
Issuance of Preferred Stock description									Each share of Preferred Stock may be converted into 100 shares of common stock. The Preferred Stock pays dividends at the rate of 3% annually. The Preferred Stock dividends are cumulative if the Company does not have the necessary cash to pay the dividend when due. The Preferred Stock dividends shall cease to accrue at such time as the Company’s Common Stock has closed at $3.00 per share or higher for 20 consecutive trading days after the first date that the registration statement is effective, and there have been, on average, at least 25,000 shares traded on each of those 20 consecutive trading days. The Preferred Stock have no voting rights. The holders of the Preferred Stock shall have voluntary conversion rights. Shares of Preferred Stock are subject to mandatory conversion (in the discretion of the Company) at such time as the Company’s common stock has closed at $5.00 per share or higher for 20 consecutive trading days after the first date that the registration statement is effective, and there have been, on average, at least 50,000 shares traded on each of those 20 consecutive trading days
Stock Issued During Period, Shares, New Issues									90,000
Stock Issued During Period, Value, New Issues									$ 450,000
Number of preffered stock converted into common stock									66,150
Convertible Preferred Stock, Shares Reserved for Future Issuance						6,615,000			6,615,000
Conversion price						$ 5			$ 5
Dividends payable						$ 94,997			$ 94,997
Share-based compensation						$ 37,961		$ 0	872,147	$ 72,500
Fair value of warrants									$ 40,708
Number of warrant purchased									14,042
Share-Based Compensation Description						All of this related to the value of 5,400 warrants to purchase unregistered shares of common stock of the Company issued to brokers for the capital that they raised in the Series B private placement during the quarter ended September 30, 2019.			Of this, $831,439 related to the value of 402,300 warrants to purchase unregistered shares of common stock of the Company issued to brokers for the capital raised for the Company by the brokers.
Warrant
Fair value of warrants				$ 7,021
Number of warrant purchased				7,021
Financing warrants
Debt Instrument, Payment 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.
Independent Contractor
Purchase price		$ 2
Number of warrant purchased		250,000
Warrant exercise price		$ 0.01
Warrant expiration date		Dec. 31, 2024
James S. Jacobs
Purchase of warrants									18,750
WJacobs
Amount borrowed						$ 14,772			$ 14,772
Series A Preferred Stock [Member]
Preferred Stock, shares authorized						400,000			400,000
Series A Preferred Stock [Member] | Accredited investors
Stock Issued During Period, Shares, New Issues							66,150
Stock Issued During Period, Value, New Issues							$ 6,615,000
Number of preffered stock converted into common stock							66,150
Convertible Preferred Stock, Shares Reserved for Future Issuance							6,615,000
Conversion price							$ 1
Series B Preferred Stock [Member]
Preferred Stock, shares authorized						5,000,000			5,000,000
Dividends payable						$ 2,232			$ 2,232
Series B Preferred Stock [Member] | Accredited investors
Stock Issued During Period, Shares, New Issues					90,000
Stock Issued During Period, Value, New Issues					$ 450,000
Convertible Preferred Stock, Shares Reserved for Future Issuance					5,000,000
Conversion price					$ 5
Number of common stock issued					90,000
Number of common stock sold					5,000,000
Exercise price					$ 5
Directors
Fair value of warrants			$ 1,150
Purchase price			$ 4
Number of warrant purchased			115,000
Warrant exercise price			$ 0.01
Joshua A. Bloom
Number of warrant purchased			25,000
Warrant exercise price			$ 0.03

Note 7 - Shareholders' Equity_2

Note 7 - Shareholders' Equity: Schedule of Share-based Compensation, Stock Options and Warrant Activity (Details) - USD ($)	9 Months Ended	12 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Text Block [Abstract]
Exercisable Options, Rights to Purchase Warrants and Financing Warrants Outstanding	2,923,632
Financing Warrants Issued During Period	18,750
Warrants Granting the Right to Purchase Shares of Common Stock Issued During Period	410,942
Options Expired During Period	(9,434)
Rights to Purchase Warrants to Purchase Shares of Common Stock Exercised During Period	(210,000)
Warrants Granting the Right to Purchase Shares of Common Stock Issued During Period	5,400
Warrants exercised during period	(147,021)
Options, Rights to Purchase Warrants and Financing Warrants Outstanding, Ending Balance	2,992,269
Exercisable Options, Rights to Purchase Warrants and Financing Warrants Outstanding	4,242,269	2,923,632
Exercisable Options, Rights to Purchase Warrants and Financing Warrants, Weighted Average Exercise Price	$ 0.87
Options, Rights to Purchase Warrants and Financing Warrants Outstanding, Weighted Average Exercise Price, Ending Balance	0.97
Exercisable Options, Rights to Purchase Warrants and Financing Warrants, Weighted Average Exercise Price	$ 1.23	$ 0.87
Options, Rights to Purchase Warrants and Financing Warrants Outstanding, Weighted Average Remaining Term	3 years 8 months 19 days	4 years 11 months 4 days
Options, Outstanding, Weighted Average Remaining Term	4 years 2 months 1 day
Exercisable Options, Rights to Purchase Warrants and Financing Warrants, Intrinsic Value	$ 2,410,100
Options, Outstanding, Intrinsic Value, Ending Balance	8,444,074
Exercisable Options, Rights to Purchase Warrants and Financing Warrants, Intrinsic Value	$ 10,881,574	$ 2,410,100

Note 8 - Contingent Contractu_2

Note 8 - Contingent Contractual Obligations and Commercial Commitments (Details)	1 Months Ended	9 Months Ended
	May 23, 2019USD ($)	Sep. 30, 2019USD ($)$ / sharesshares
CBD Lion
Capital raise	$ 9,000,000	$ 15,000,000
Warrender Enterprise
Capital raise		$ 25,000,000
Ablis
Percntage of common stock purchase		0.15
Additional Percntage of common stock purchase		15.00%
Additional Warrants to purchase | shares		2,814
Maximum warrants issued | shares		42,210
Warrant Exercise price | $ / shares		$ 1
William C. Jacobs
Consulting fees		$ 5,000
Cash compensation received		5,000
James S. Jacobs
Consulting fees		$ 7,500

Note 9 - Subsequent Events (Det

Note 9 - Subsequent Events (Details) - Merger Agreement - Lion - USD ($)	Dec. 01, 2019	Nov. 14, 2019	Aug. 08, 2019
Cash consideration		$ 2,000,000
Unregistered common stock		5,000,000
Repayment of loan	$ 300,000
Interest rate			6.00%