WEED, INC. Files 2023 Annual Report on Form 10-K

TL;DR

<b>WEED, INC. has filed its 2023 10-K report detailing its financial performance and business operations.</b>

AI Summary

WEED, INC. (BUDZ) filed a Annual Report (10-K) with the SEC on April 1, 2024. WEED, INC. filed its annual report for the fiscal year ending December 31, 2023. The company's principal business address is located at 4920 N. Post Trail, Tucson, AZ 85750. WEED, INC. was formerly known as UNITED MINES INC, with a name change effective March 20, 2007. The filing includes data related to stock options, common stocks, and various notes payable. Financial data points such as total assets and total debt are included for the fiscal years 2022 and 2023.

Why It Matters

For investors and stakeholders tracking WEED, INC., this filing contains several important signals. This 10-K filing provides a comprehensive overview of WEED, INC.'s financial health, operational activities, and strategic positioning for the fiscal year 2023, which is crucial for investors and stakeholders to assess the company's performance and future prospects. The detailed financial statements and disclosures within the report offer insights into the company's assets, liabilities, and equity, enabling a thorough evaluation of its financial stability and investment potential.

Risk Assessment

Risk Level: medium — WEED, INC. shows moderate risk based on this filing. The company's filing is a standard 10-K, which typically contains a broad range of financial and operational information. However, the limited specific financial figures provided in the extract prevent a deeper risk assessment beyond general observations.

Analyst Insight

Review the full 10-K filing for detailed financial statements, management discussion and analysis, and risk factors to form a comprehensive investment thesis.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reported fiscal year end)
• 2024-04-01 — Filing Date (Date the report was filed)
• 000-53727 — SEC File Number (SEC file number for WEED, INC.)
• 830452269 — IRS Number (IRS number for WEED, INC.)

Key Players & Entities

• WEED, INC. (company) — Filer name
• UNITED MINES INC (company) — Former company name
• 2023-12-31 (date) — Fiscal year end
• 2024-04-01 (date) — Filing date
• 4920 N. POST TRAIL (address) — Business address street
• TUCSON (location) — Business address city
• AZ (location) — Business address state
• 85750 (postal_code) — Business address zip

FAQ

Industry Context

WEED, INC. operates within the commercial physical & biological research sector (SIC 8731). This sector involves research and development activities.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to submit regular financial disclosures to the SEC.

What Investors Should Do

1. Thoroughly review the complete 10-K filing for detailed financial statements and disclosures.
2. Analyze the Management's Discussion and Analysis (MD&A) section for insights into the company's performance and outlook.
3. Examine the Risk Factors section for potential challenges and uncertainties facing WEED, INC.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-04-01: Filing Date — Date WEED, INC. submitted its 10-K report to the SEC.

Year-Over-Year Comparison

This is the initial analysis of the 2023 10-K filing for WEED, INC. based on the provided data.

Key Financial Figures

• $0.001 — g) of the Act: Common Stock, par value $0.001 (Title of class) Indicate by check ma
• $0.09 — ommon stock the closing stock price was $0.09. Applicable Only to Registrants Involv
• $1 million — strial Metagenomics at a cost of nearly $1 million USD. Sangre completed the pilot study w
• $500,000 — ae plant. However, after expending over $500,000 USD to acquire the Professor Touitou's
• $477,000 — or owners for a total purchase price of $477,000. The property is approximately 43 acres

Filing Documents

• weed-10k.htm (10-K) — 1023KB
• weed_ex311.htm (EX-31.1) — 10KB
• weed_ex312.htm (EX-31.2) — 10KB
• weed_ex321.htm (EX-32.1) — 4KB
• weed_ex322.htm (EX-32.2) — 4KB
• weed-10kimg3.jpg (GRAPHIC) — 9KB
• 0001096906-24-000701.txt (&nbsp;) — 4232KB
• budz-20231231.xsd (EX-101.SCH) — 36KB
• budz-20231231_lab.xml (EX-101.LAB) — 235KB
• budz-20231231_cal.xml (EX-101.CAL) — 50KB
• budz-20231231_pre.xml (EX-101.PRE) — 209KB
• budz-20231231_def.xml (EX-101.DEF) — 110KB
• weed-10k_htm.xml (XML) — 514KB

– BUSINESS

ITEM 1 – BUSINESS 3

– RISK FACTORS

ITEM 1A – RISK FACTORS 14

– UNRESOLVED STAFF COMMENTS

ITEM 1B – UNRESOLVED STAFF COMMENTS 18

- CYBERSECURITY

ITEM 1C - CYBERSECURITY 18

– PROPERTIES

ITEM 2 – PROPERTIES 18

– LEGAL PROCEEDINGS

ITEM 3 – LEGAL PROCEEDINGS 19

– MINE SAFETY DISCLOSURES

ITEM 4 – MINE SAFETY DISCLOSURES 19 PART II

– MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES

ITEM 5 – MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED STOCKHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES 20

– [Reserved]

ITEM 6 – [Reserved] 21

– MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION

ITEM 7 – MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATION 21

– QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

ITEM 7A – QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK 26

– FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

ITEM 8 – FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA 26

– CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE

ITEM 9 – CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS ON ACCOUNTING AND FINANCIAL DISCLOSURE 26

– CONTROLS AND PROCEDURES

ITEM 9A – CONTROLS AND PROCEDURES 26

– OTHER INFORMATION

ITEM 9B – OTHER INFORMATION 28 PART III

– DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNACE

ITEM 10 – DIRECTORS, EXECUTIVE OFFICERS AND CORPORATE GOVERNACE 29

– EXECUTIVE COMPENSATION

ITEM 11 – EXECUTIVE COMPENSATION 32

– SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS

ITEM 12 – SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND RELATED STOCKHOLDER MATTERS 36

– CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE

ITEM 13 – CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS, AND DIRECTOR INDEPENDENCE 36

– PRINCIPAL ACCOUNTING FEES AND SERVICES

ITEM 14 – PRINCIPAL ACCOUNTING FEES AND SERVICES 39 PART IV

– EXHIBITS, FINANCIAL STATEMENT SCHEDULES

ITEM 15 – EXHIBITS, FINANCIAL STATEMENT SCHEDULES 40 2 Table of Contents PART I Explanatory Note

Forward Looking Statements

Forward Looking Statements This Annual Report includes forward-looking statements within the meaning of the Securities Exchange Act of 1934 (the "Exchange Act"). These statements are based on management's beliefs and assumptions, and on information currently available to management. Forward-looking statements include the information concerning possible or assumed future results of operations of the Company set forth under the heading "Management's Discussion and Analysis of Financial Condition or Plan of Operation." Forward-looking statements also include statements in which words such as "expect," "anticipate," "intend," "plan," "believe," "estimate," "consider," or similar expressions are used. Forward-looking statements are not guarantees of future performance. They involve risks, uncertainties, and assumptions. The Company's future results and shareholder values may differ materially from those expressed in these forward-looking statements. Readers are cautioned not to put undue reliance on any forward-looking statements.

– BUSINESS

ITEM 1 – BUSINESS Corporate History We were originally incorporated under the name Plae, Inc., in the State of Arizona on August 20, 1999. At the time we operated under the name Plae, Inc., no business was conducted. No books or records were maintained and no meetings were held. In essence, nothing was done after incorporation until Glenn E. Martin took possession of Plae, Inc. in January 2005. On February 18, 2005, the corporate name was changed to King Mines, Inc. and then subsequently changed to its current name, United Mines, Inc., on March 30, 2005. No shares were issued until the Company became United Mines, Inc. From 2005 until 2015, we were an exploration stage mineral exploration company that owned a number of unpatented BLM mining claims and Arizona State Land Department exploration leases. On November 26, 2014, our Board of Directors approved the redomestication of our company from Arizona to Nevada (the "Articles of Domestication"), and approved Articles of Incorporation in Nevada, which differed from then-Articles of Incorporation in Arizona, primarily by (a) changing our name from United Mines, Inc. to WEED, Inc., (b) authorizing Twenty Million (20,000,000) shares of preferred stock, with blank check rights granted to our Board of Directors, and (c) authorizing Two Hundred Million (200,000,000) shares of common stock (the "Nevada Articles of Incorporation"). On December 19, 2014, the holders of a majority of our outstanding common stock approved the Articles of Domestication and the Nevada Articles of Incorporation at a Special Meeting of Shareholders. On January 16, 2015, the Articles of Domestication and the Nevada Articles of Incorporation went effective with the Secretary of State of the State of Nevada. On February 2, 2015, our name change to WEED, Inc., and a corresponding ticker symbol change to "BUDZ" went effective with FINRA and was reflected on the quotation of our common stock on OTC Markets. These changes were effected in order to ma

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View this 10-K filing on SEC EDGAR