Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 388

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 3
Chunk 388
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s reporting by requiring disclosure of incremental segment
information on an annual and interim basis for all public entities. The Company adopted ASU No. 2023-07for our fiscal year 2024 annual
financial statements and interim financial statements thereafter and have applied this standard retrospectively for all period presented
in the consolidated financial statements. See Note 13 for more details on the Company’s segment information.

Note 2 – Going Concern

As shown in the accompanying financial statements,
the Company has no revenues, incurred net losses from operations resulting in an accumulated deficit of $84,903,279 and negative working
capital of $769,481 at December 31, 2024. These factors raise substantial doubt about the Company’s ability to continue as a going
concern. Management is actively pursuing new products and services to begin generating revenues. In addition, the Company is currently
seeking additional sources of capital to fund short term operations. The Company, however, is dependent upon its ability to secure equity
and/or debt financing and there are no assurances that the Company will be successful; therefore, without sufficient financing it would
be unlikely for the Company to continue as a going concern.

The financial statements do not include any adjustments
that might result from the outcome of any uncertainty as to the Company’s ability to continue as a going concern. The financial
statements also do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts
and classifications of liabilities that might be necessary should the Company be unable to continue as a going concern.

F-10

Note 3 – Related Party

Notes Payable

From time to time, the Company has received short
term loans from officers and directors as disclosed in Note 7 below. The Company has a total of $423,328 and $133,073 of note payable
on the consolidated balance sheet as of December 31, 2024 and December 31, 2023, respectively.

From January 2022 to March 31, 2022, the Company received
$4,000 and $500,000 loans from Nicole Breen and Glenn Martin, respectively. The $500,000 loan from Glenn Martin was replaced the $300,000
loan. From January 2023 to March 31, 2023, the Company paid off the remaining balance of the loan from Nicole Breen that originally was
$37,500. From April 2023 to June 30, 2023, the Company received $50