Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 514

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 5
Chunk 514
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 lease is not readily determinable,
and we therefore use incremental borrowing rate to determine the present value of the lease payments. The incremental borrowing rate used
to determine the initial value of right-of-use (“ROU”) assets and lease liabilities during the period ended December 31, 2024,
was 5.0%.

In May, 2022, we entered into a lease agreement of
a hemp drying facility in Huachuca City, Arizona for $1,200 per month. The lease term began May 2, 2022 and ends May 2, 2026. As of December
31, 2024, we had lease liability of $18,538, and ROU assets of $18,538.

    F-14

Note 9 – Commitments and Contingencies (continued)

Legal Proceedings

The Company may be subject to legal proceedings and
claims arising from contracts or other matters from time to time in the ordinary course of business. Management is not aware of any pending
or threatened litigation where the ultimate disposition or resolution could have a material adverse effect on its financial position,
results of operations or liquidity.

Note 10 – Stockholders’ Equity

Preferred Stock

On December 5, 2014, the Company amended the Articles
of Incorporation, pursuant to which 20,000,000 shares of “blank check” preferred stock with a par value of $0.001 were authorized.
No series of preferred stock has been designated to date.

Common Stock

On December 5, 2014, the Company amended the Articles
of Incorporation, and increased the authorized shares to 200,000,000 shares of $0.001 par value common stock.

2024 Common Stock Activity 

Common Stock Sales (2024)

No stocks were issued during the year ended December
31, 2024.

Common Stock Issued for Services (2024)

During the quarter ended June 30, 2024, 1,750,000
shares of common stocks valued at $315,000 were issued for the services, and such amount has been included in subscriptions payable.

During the quarter ended June 30, 2024, the Company
agreed to issue an aggregate of 200,000 shares to consultants for services performed. The total fair value of common stock was $14,000
based on the closing price of the Company’s common stock earned on the measurement date.

Common Stock Cancellations

No common stocks were cancelled during the year ended