Company: BUDZ
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000820
Chunk: 38

Company: WEED, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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ibles, Net  32,933   33,583  Amortization expense totaled $650 and $650 for the three months ended March 31, 2025 and 2024, respectively.

 14Table of Contents

Note 7 – Notes Payable, Related Parties Notes payable, related parties consist of the following at March 31, 2025 and December 31, 2024, respectively:    March 31,2025  December 31,2024 On April 12, 2010, the Company received an unsecured, non-interest-bearing loan in the amount of $2,000, due on demand from Robert Leitzman. Interest is being imputed at the Company’s estimated borrowing rate, or 10% per annum. The largest aggregate amount outstanding was $2,000 during the periods ended December 31, 2019 and December 31, 2018. Mr. Leitzman owns less than 1% of the Company’s common stock, however, the Mr. Leitzman is deemed to be a related party given the non-interest-bearing nature of the loan and the materiality of the debt at the time of origination. $2,000  $2,000          Over various dates in 2011 and 2012, the Company received unsecured loans in the aggregate amount of $10,000, due on demand, bearing interest at 10%, from Sandra Orman. The largest aggregate amount outstanding was $10,000 during the periods ended December 31, 2019 and December 31, 2018. Mrs. Orman owns less than 1% of the Company’s common stock, however, Mrs. Orman is deemed to be a related party given the nature of the loan and the materiality of the debt at the time of origination. $10,000  $10,000          On various dates in 2024 and 2025, the company received the aggregate amount of $305,000 and $45,000 of advances, bearing interest at 5% and 12%, from Glenn Martin. Payments of $130,000 were made to Mr. Martin in January 2025. $220,000  $305,000          On May 2, 2022, the company acquired Hempirical Genetics, LLC with a note payable to the executive officer Jeffrey Miller with no interest. Payments of $