Company: BUDZ
Filing Date: 2025-05-15
Form Type: 10-Q
Source: 0001096906-25-000820
Chunk: 42

Company: WEED, INC.
Filing Date: 2025-05-15
Form: 10-Q
Item: Part I, Item 1
Chunk 42
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 2025 and year ended December 31, 2024, the Company incurred a net operating 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 March 31, 2025 and December 31, 2024, the Company had approximately $440,455 and $510,317 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:    March 31, 2025 Deferred tax assets:   Net operating loss carry forward as of 12/31/2024 $18,411,283 Estimate Tax Loss March 31, 2025  440,455      NOL Carry Forward Cumulative as of 3/31/2025  18,851,738 Statutory Tax Rate  21%Deferred Tax Asset  3,958,865 Valuation  (3,958,865 )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 March 31, 2025 and December 31, 2024, respectively.

Note 11 – Segment Information We operate in one reportable segment, which is the purchase of land, and building Commercial Grade “Cultivation Centers” to consult, assist, manage and 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. The CODM uses these expense categories to assess the Company's performance and allocate resources