Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 337

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 2
Chunk 337
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 loss and, accordingly, no provision for income taxes has been recorded. In addition,
no benefit for income taxes has been recorded due to the uncertainty of the realization of any tax assets. At December 31, 2024 and December
31, 2023, the Company had approximately $510,317 and $30,577 of loss of federal net operating losses, respectively. The net operating
loss carry forwards, if not utilized, will begin to expire in 2031.

The components of the Company’s deferred tax
assets are as follows:

     Schedule of deferred tax assets 

    December 31, 2024 
  
    Deferred tax assets: 

    Net operating loss carry forward as of 12/31/2023 
    $17,900,966 
  
    Estimate Tax Loss December 31, 2024 
     510,317 

    NOL Carry Forward Cumulative as of 12/31/2024 
     18,411,283 
  
    Statutory Tax Rate 
     21%
  
    Deferred Tax Asset 
     3,866,369 
  
    Valuation 
     (3,866,369)
  
    Net Deferred Tax Asset 
     0 

Based on the available objective evidence, including
the Company’s history of losses, management believes it is more likely than not that the net deferred tax assets will not be fully
realizable. Accordingly, the Company provided for a full valuation allowance against its net deferred tax assets at December 31, 2024
and December 31, 2023, respectively.

Note 13 – Segment Information

We operate in one reportable segment, which is the
purchase of land, and building Commercial Grade “Cultivation Centers” to consult, assist, manage & lease to Licensed Dispensary
owners and organic grow operators on a contract basis, with a concentration on the legal and medical marijuana sector. The Company’s
CODM includes the chief executive officer and chief financial officer. The chief operating decision maker (“CODM”) regularly
review and use the consolidated net loss, as reported on our Consolidated Statements of Operations and Comprehensive Loss in evaluating
the overall performance of our single reporting segment. As a result, the Company has determined that it has only one reportable segment.

Although the Company has not generated revenue during
the reporting period, it continues to incur expenses related to research and development, general and administrative activities, and other
operational costs.