Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 271

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1C
Chunk 271
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258,319  
     258,319 
  
    Property 
     218,681  
     218,681 
  
    Property and equipment, gross 
     624,771  
     624,771 
  
    Less accumulated depreciation 
     (128,417) 
     (108,431)
  
    Property and equipment, net 
    $496,354  
    $516,340 

On July 24, 2023, the Company sold another La Veta
property for $1,800,000 and $988,375 was record as gain on sale.

Depreciation expense totaled $19,986 and $49,791 for
the years ended December 31, 2024 and 2023, respectively.

F-12

Note 6 – Intangible Assets

Intangibles

In accordance with FASB ASC 350, “Intangibles-Goodwill
and Other”, the Company evaluates the recoverability of identifiable intangible assets whenever events or changes in circumstances
indicate that an intangible asset’s carrying amount may not be recoverable. The impairment loss would be calculated as the amount
by which the carrying value of the asset exceeds its fair value. The US and Europe trademarks were acquired for $40,000 and $50,000, respectively,
for the year ended December 31, 2018. Trademarks are initially measured based on their fair value and amortized by 10 and 25 years.

Acquisition intangible assets arising out of the acquisition
of Hempirical Genetics, LLC. That should, in accordance with GAAP, be classified as intangibles, include goodwill.

On December 31, 2024 and December 31, 2023, Intangibles
consists of the following:

    Schedule of intangible assets 

    December 31, 2024  
    December 31, 2023 
  
    Trademark 
     50,000  
     50,000 
  
    Grower License 
     667  
     667 
  
    Less: Accumulated amortization 
     (17,084) 
     (14,484)
  
    Total other intangibles, Net 
     33,583  
     36,183 

Amortization expense totaled $2,600 and $2,460 for
the years ended December31, 2024 and 2023, respectively