Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 16

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 16
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125,000 shares of common stock,
restricted in accordance with Rule 144, on before January 20, 2018. Through an escrow process, we paid the seller $100,000 in cash and
issued him 125,000 shares of common stock in accordance with the Amendment No. 1, in exchange for a full release of the deed of trust
that was securing the promissory note, on January 17, 2018. As a result, the $475,000 principal promissory note issued to the seller is
deemed paid-in-full and fully satisfied and we own the property without encumbrances. To date we have spent $354,000 renovating the
property and an additional $400,000 on extraction and analytical lab equipment. Our plans to complete the property renovations, at an
estimated cost of $300,000, are currently on hold pending future financing. We will need additional extraction equipment and analytical
lab equipment, totaling approximately $700,000. We will need to raise additional funds in order to complete the planned renovations and
pay the purchase price for the equipment.  On July 24, 2023, we sold another La Veta property for $1,800,000 and $988,375 was recorded
as gain on sale.

On January 3, 2018, Sangre
closed on the purchase of a condominium in La Veta, Colorado. Sangre paid $140,000 in cash for the condominium which is a three story
condominium, with three bedrooms and three bathrooms and is approximately 1,854 square feet. This property was sold in 2020 for $175,000
as it was no longer needed to house personnel due to our clinical trials and research studies are to be moved to Israel.

Previously, we also owned
a $1.2 million dollar property in Cucharus, CO that was used as WEED’s corporate headquarters that was to house Sangre personnel.
This property was a 35 acre, 5300+ sq ft., hilltop custom log home. In May 2022 we sold this property for approximately $1.3 million.

New York Property

On November 22, 2021, we
acquired certain improved property located in Westfield, New York from DiPaolo for a total purchase price of $477,000. The property is
approximately 43 acres and has unlimited water extraction rights from the State of New York. We plan to