Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 14

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 14
---
 May 1, 2019. However, prior to that payment, WEED terminated the agreement
with Yissum. We do not currently plan to revisit our agreement with Yissum in the future. However, we do plan to continue to work with
Professor Elka Touitou of Hebrew University of Jerusalem, who remains our selection for Chairperson for our Israeli Scientific Advisory
Board, to implement our research and product development along with WEED Israel clinical trials.

Additionally, we consider
certain elements of our Cannabis Genomic Study to be trade secrets and we protect it as our intellectual property. In the future, if we
are successful in identifying certain Cannabis strains as promising for the treatment of diseases we will seek to patent those strains.

Government Regulation

As of the end of December
2021, 37 states and the District of Columbia allow its citizens to use medical marijuana, and 17 states have legalized cannabis for adult
recreational use. The state laws are in conflict with the Federal Controlled Substances Act, which makes marijuana use and possession
illegal at the federal level. Prior administrations (namely, President Obama) effectively stated that it is not an efficient use of resources
to direct law federal law enforcement agencies to prosecute those lawfully abiding by state-designated laws allowing the use and distribution
of medical marijuana. The current administration (Biden administration) has not yet indicated how it might regulate the marijuana industry
at the federal level, but to date there has been very little in terms of action. There is no guarantee that the Biden administration or
future administrations will maintain the low-priority enforcement of federal laws in the marijuana industry that was adopted by the Obama
administration. Any new administration that follows could change this policy and decide to enforce the federal laws strongly. Any such
change in the federal government’s enforcement of current federal laws could cause significant financial damage to our business
and our shareholders.

11

Further, and while we do
not intend to harvest, distribute or sell cannabis currently if we conduct research with the cannabis or industrial hemp plant or lease
buildings to growers of cannabis, etc., we could be deemed to be participating in cannabis cultivation, which remains illegal under federal
law, and exposes us to potential criminal liability, with the additional risk that our properties could be subject to civil forfeiture
proceedings.

Currently, there are no
approvals needed in order to sequence the cannabis genome, which is what been conducted by Sangre. However, prior to doing any research