Dogecoin Cash, Inc. Corrects Director Bonus Understatement
Ticker: DOGP · Form: 10-K/A · Filed: Jan 24, 2025 · CIK: 1360442
Sentiment: neutral
Topics: amendment, financial-reporting, error-correction
Related Tickers: CBDs
TL;DR
Dogecoin Cash (CBDs) amended its 10-K to fix a $88.2K director bonus error from 2022.
AI Summary
Dogecoin Cash, Inc. filed a 10-K/A amendment on January 24, 2025, for the fiscal year ending December 31, 2023. The filing corrects an understatement of bonus payable to directors of Presto by $88,200 as of December 31, 2022, which also resulted in an understatement of wages and salaries expense by the same amount. The company, formerly known as Cannabis Sativa, Inc., is incorporated in Nevada and based in Mesquite, NV.
Why It Matters
This amendment clarifies financial reporting accuracy, ensuring that director compensation is correctly stated, which is crucial for investor confidence and regulatory compliance.
Risk Assessment
Risk Level: low — The filing is an amendment correcting a relatively small accounting error, not indicating systemic issues.
Key Numbers
- $88,200 — Director Bonus Understatement (Correction for Presto's director bonus payable as of December 31, 2022.)
- $88,200 — Wages and Salaries Expense Understatement (Resulting expense correction due to the director bonus error.)
Key Players & Entities
- Dogecoin Cash, Inc. (company) — Filer
- Cannabis Sativa, Inc. (company) — Former company name
- Presto (company) — Subsidiary where bonus understatement occurred
- $88,200 (dollar_amount) — Amount of understated director bonus payable
- December 31, 2022 (date) — Date of director bonus understatement
- January 24, 2025 (date) — Filing date of 10-K/A
FAQ
What specific financial statement line item was affected by the director bonus understatement?
Wages and salaries expense was understated by $88,200 as a result of the error in the bonus payable to directors of Presto.
What was the original reporting period for the error Dogecoin Cash, Inc. is correcting?
The error relates to the bonus payable to the directors of Presto as of December 31, 2022.
What is the filing date for this 10-K/A amendment?
The 10-K/A amendment was filed on January 24, 2025.
What was Dogecoin Cash, Inc. formerly known as?
Dogecoin Cash, Inc. was formerly known as Cannabis Sativa, Inc. and prior to that, Ultra Sun Corp.
Where is Dogecoin Cash, Inc. incorporated and what is its business address?
The company is incorporated in Nevada (NV) and its business address is 355 W MESQUITE BLVD, C70, MESQUITE, NV 89027.
Filing Stats: 4,504 words · 18 min read · ~15 pages · Grade level 13.3 · Accepted 2025-01-24 16:09:11
Key Financial Figures
- $0.001 — (g) of the Act: Common Stock, Par Value $0.001 Indicate by check mark if the registr
Filing Documents
- cbds_10ka.htm (10-K/A) — 929KB
- cbds_ex311.htm (EX-31.1) — 9KB
- cbds_ex312.htm (EX-31.2) — 9KB
- cbds_ex321.htm (EX-32.1) — 3KB
- cbds_ex322.htm (EX-32.2) — 3KB
- 0001096906-25-000090.txt ( ) — 4470KB
- cbds-20231231.xsd (EX-101.SCH) — 47KB
- cbds-20231231_lab.xml (EX-101.LAB) — 266KB
- cbds-20231231_cal.xml (EX-101.CAL) — 46KB
- cbds-20231231_pre.xml (EX-101.PRE) — 226KB
- cbds-20231231_def.xml (EX-101.DEF) — 126KB
- cbds_10ka_htm.xml (XML) — 581KB
Business
Business 4 Item 1A.
Risk Factors
Risk Factors 11 Item 1B. Unresolved Staff Comments 11 Item 3.
Legal Proceedings
Legal Proceedings 11 Item 4. Mine Safety Disclosures 11 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 12 Item 6.
Selected Financial Data
Selected Financial Data 13 Item 7.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 13 Item 7A.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 15 Item 8.
Financial Statements and Supplementary Data
Financial Statements and Supplementary Data 15 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 15 Item 9A.
Controls and Procedures
Controls and Procedures 15 Item 9B. Other Information 16 PART III Item 10. Directors, Executive Officers and Corporate Governance 17 Item 11.
Executive Compensation
Executive Compensation 19 Item 12.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 20 Item 13. Certain Relationships and Related Transactions, and Director Independence 21 Item 14. Principal Accounting Fees and Services 21 Item 15. Exhibits, Financial Statement Schedules 22
SIGNATURES
SIGNATURES 23 2 Table of Contents
FORWARD-LOOKING STATEMENTS
FORWARD-LOOKING STATEMENTS In addition to historical information, this Annual Report on Form 10-K, including, but not limited to, the sections entitled "Management's Discussion and Analysis of Financial Condition and Results of Operations" and "Business," contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. We use words such as "believe", "expect", "anticipate", "project", "target", "plan", "optimistic", "intend", "aim", "will", or similar expressions, which are intended to identify forward-looking statements. You are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, as well as assumptions that if they were to ever materialize or prove incorrect, could cause the results of the Company to differ materially from those expressed or implied by such forward-looking statements. Future events and actual results could differ materially from those set forth in, contemplated by or underlying the forward-looking statements. Forward-looking statements speak only as of the date on which they are made. The Company assumes no obligation and does not intend to update these forward-looking statements for any reason after the date of the filing of this report, to conform these statements to actual results or to changes in our expectations, except as required by law. 3 Table of Contents Part I
Description of Business
Item 1. Description of Business Company Background Cannabis Sativa, Inc., formerly named Ultra Sun Corporation, was incorporated under laws of Nevada in November 2005. In 2023, we conducted our operations through our subsidiaries PrestoCorp, Inc. ("PrestoCorp"), a 51% owned Delaware corporation engaged in the telemedicine business. We also own 100% of the following subsidiaries: Wild Earth Naturals, Inc. ("Wild Earth"), a corporation re-domiciling to Utah, Eden Holdings LLC ("Eden"), a Virginia limited liability company, Kubby Patent and Licenses, Limited Liability Company ("KPAL"), a Texas limited liability company and Hi Brands International Inc. ("Hi Brands"), a corporation re-domiciling to Utah. Wild Earth, Eden, KPAL, and Hi Brands are currently inactive, but fit into our business strategy as discussed below. Our common stock is quoted for trading on the OTCQB Market under the symbol CBDS. We currently maintain virtual principal executive offices with our staff and contractors located remotely and typically working out of their homes. Our mailing address is PO BOX 1602, Mesquite, Nevada 89024. Our telephone number is (702) 762-3123. Business Strategy In 2024, we intend to focus on growth of our telemedicine business while seeking opportunities in brand development and marketing of products and services to the cannabidiol ("CBD") and marijuana industries. We also intend to focus on the consummation of an asset purchase agreement with MJ Harvest, Inc. ("MJ") whereby, if consummated, certain assets of MJ will become 100% owned by the Company. Pursuant to the asset purchase, current shareholders of MJ will receive an approximate 72% interest in the issued and outstanding common shares of the Company. Telemedicine PrestoCorp ("PrestoDoctor"), offers an online telemedicine platform providing customer access to knowledgeable physicians to obtain a medical marijuana recommendation. PrestoDoctor uses secure video conferencing technology (https://prestodoc