Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 15

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 15
---
into the medical applications of the cannabis plant once the study is completed, we will need to obtain medicinal cannabis and hemp research
licenses from the State of Colorado, Arizona and New York State. Additionally, if we ever cultivate and process cannabis plants, we will
need cultivation and processing licenses from the State of Colorado Arizona and New York State which covers cannabis and hemp. These licenses
will cost approximately $1,000 to $5,000 per license, and likely take approximately six months to 1 year to obtain.

Sangre Agreement

On April 20, 2017, we entered
into a Share Exchange Agreement with Sangre AT, LLC, a Wyoming limited liability company, under which we acquired all of the issued and
outstanding limited liability company membership units of Sangre in exchange for Five Hundred Thousand (500,000) shares of our common
stock, restricted in accordance with Rule 144. As a result of this agreement, Sangre is a wholly-owned subsidiary of WEED, Inc.

Le Veta, Colorado Properties

On July 26, 2017, we acquired
property located in La Veta, Colorado in order for Sangre to complete its Proposed 5-Year, $15+ million Cannabis Genomic Study. The
site includes a 10,000+ sq. ft. building that will house Sangre’s genomic research facility, a 4,000+ square foot building for plant
product analytics and plant product extraction, a 3,500 sq. ft. corporate office center, and 25 RV slots with full water and electric,
which we plan to convert into a series of small research pods. Under the terms of the purchase agreement, we paid $525,000 down, including
25,000 shares of our common stock, and Sangre took immediate possession of the property. Under the terms of the purchase we were obligated
to pay an additional $400,000 in cash and issue an additional 75,000 shares of our common stock over the next two years in order to pay
the entire purchase price. On January 12, 2018, we entered into an Amendment No. 1 to the $475,000 principal amount promissory note
issued by us to the seller of the property, under which both parties agreed to amend the purchase and the promissory note to allow us
to payoff the note in full if we paid $100,000 in cash on or before January 15, 2018 and issued the seller