| Summarized financial information |
| |
|
For
the Three Months Ended
March
31, 2018 (Unaudited)
|
|
| |
|
Herbs
and Produce Products |
|
|
Cannabis
Dispensary, Cultivation and Production |
|
|
Eliminations
and Other |
|
|
Total
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Revenues |
|
$ |
1,283,901 |
|
|
$ |
7,314,554 |
|
|
$ |
16,911 |
|
|
$ |
8,615,366 |
|
| Cost
of Goods Sold |
|
|
1,263,117 |
|
|
|
5,704,809 |
|
|
|
- |
|
|
|
6,967,926 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross
Profit |
|
|
20,784 |
|
|
|
1,609,745 |
|
|
|
16,911 |
|
|
|
1,647,440 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling,
General and Administrative Expenses |
|
|
942,367 |
|
|
|
4,003,707 |
|
|
|
3,476,474 |
|
|
|
8,422,548 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss
from Operations |
|
|
(921,583 |
) |
|
|
(2,393,962 |
) |
|
|
(3,459,563 |
) |
|
|
(6,775,108 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other
Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization
of Debt Discount |
|
|
- |
|
|
|
- |
|
|
|
(468,317 |
) |
|
|
(468,317 |
) |
| Loss
on Extinguishment of Debt |
|
|
- |
|
|
|
- |
|
|
|
(4,731,246 |
) |
|
|
(4,731,246 |
) |
| Gain
on Fair Market Valuation of Derivatives |
|
|
- |
|
|
|
- |
|
|
|
2,281,000 |
|
|
|
2,281,000 |
|
| Interest
Expense |
|
|
- |
|
|
|
(397 |
) |
|
|
(259,224 |
) |
|
|
(259,621 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Other Income (Expense) |
|
|
- |
|
|
|
(397 |
) |
|
|
(3,177,787 |
) |
|
|
(3,178,184 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss
Before Provision for Income Taxes |
|
$ |
(921,583 |
) |
|
$ |
(2,394,359 |
) |
|
$ |
(6,637,350 |
) |
|
$ |
(9,953,292 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Assets at March 31, 2018 |
|
$ |
6,086,415 |
|
|
$ |
72,403,323 |
|
|
$ |
29,354,695 |
|
|
$ |
107,844,433 |
|
| |
|
For
the Three Months Ended
March
31, 2017 (Unaudited)
|
|
| |
|
Herbs
and
Produce
Products
|
|
|
Cannabis
Dispensary, Cultivation and Production |
|
|
Eliminations
and
Other
|
|
|
Total
|
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Revenues |
|
$ |
917,143 |
|
|
$ |
5,887,038 |
|
|
$ |
20,275 |
|
|
$ |
6,824,456 |
|
| Cost
of Goods Sold |
|
|
969,815 |
|
|
|
5,495,578 |
|
|
|
- |
|
|
|
6,465,393 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Gross
Profit |
|
|
(52,672 |
) |
|
|
391,460 |
|
|
|
20,275 |
|
|
|
359,063 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Selling,
General and Administrative Expenses |
|
|
659,063 |
|
|
|
2,627,005 |
|
|
|
3,100,232 |
|
|
|
6,386,300 |
|
| |
|
|
|
|
|
|
|
|
|
. |
|
|
|
|
|
| Loss
from Operations |
|
|
(711,735 |
) |
|
|
(2,235,545 |
) |
|
|
(3,079,957 |
) |
|
|
(6,027,237 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Other
Income (Expense): |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortization
of Debt Discount |
|
|
- |
|
|
|
- |
|
|
|
(610,616 |
) |
|
|
(610,616 |
) |
| Loss
on Extinguishment of Debt |
|
|
- |
|
|
|
- |
|
|
|
(1,039,458 |
) |
|
|
(1,039,458 |
) |
| Gain
on Fair Market Valuation of Derivatives |
|
|
- |
|
|
|
- |
|
|
|
1,610,750 |
|
|
|
1,610,750 |
|
| Interest
Expense |
|
|
- |
|
|
|
- |
|
|
|
(157,833 |
) |
|
|
(157,833 |
) |
| Loss
on Fair Market Valuation of Contingent Consideration |
|
|
- |
|
|
|
(4,348,761 |
) |
|
|
- |
|
|
|
(4,348,761 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Other Income (Expense) |
|
|
- |
|
|
|
(4,348,761 |
) |
|
|
(197,157 |
) |
|
|
(4,545,918 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Loss
Before Provision for Income Taxes |
|
$ |
(711,735 |
) |
|
$ |
(6,584,306 |
) |
|
$ |
(3,277,114 |
) |
|
$ |
(10,573,155 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Total
Assets at March 31, 2017 |
|
$ |
7,133,499 |
|
|
$ |
59,367,012 |
|
|
$ |
11,077,191 |
|
|
$ |
77,577,702 |
|
|