Company: BUDZ
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000820
Chunk: 37

Company: WEED, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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 1, Level 2 and Level 3 inputs for the three months ended March 31, 2025 and the year ended December 31, 2024.

Note 5 – Property and Equipment Property and equipment consist of the following at March 31, 2025 and December 31, 2024, respectively:   March 31,  December 31,   2025  2024               Office equipment $ 8,667  $ 8,667 Furniture & Fixtures  5,479   9 Lab equipment  133,626   133,626          Land  258,319   258,319 Property  218,680   218,681 Property and equipment, gross  624,771   624,771 Less accumulated depreciation  (133,389 )  (128,417 )Property and equipment, net $491,382  $496,354  Depreciation expense totaled $5,622 and $5,071 for the three months March 31, 2025 and 2024, respectively.

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 $510,000, 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 March 31, 2025 and December 31, 2024, Intangibles consists of the following:   March 31, 2025  December 31, 2024 Trademark  50,000   50,000 Grower License  667   667 Less: Accumulated amortization  (17,734 )  (17,084 )Total other intang