Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 26

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1
Chunk 26
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 cybersecurity threats that have materially affected or are reasonably likely to materially affect our business strategy,
results of operations, or financial condition. However, we may not be aware of all vulnerabilities or might not accurately assess the
risks of incidents, and such preventative measures cannot provide absolute security and may not be sufficient in all circumstances or
mitigate all potential risks.

ITEM 2 – PROPERTIES

Le Veta, Colorado Properties

On July 26, 2017, we acquired
a property located in La Veta, Colorado in order for Sangre to complete its 5-Year, $15+ million Cannabis Genomic Study. The site includes
a 10,000+ sq. ft. building that will house Sangre’s genomic research facility, a 4,000+ square foot building for plant product analytics
and plant product extraction, a 3,500 sq. ft. corporate office center, and 25 RV slots with full water and electric, which we plan to
convert into a series of small research pods. Under the terms of the purchase agreement, we paid $525,000 down, along with 25,000 shares
of our common stock, and Sangre took immediate possession of the property. We were obligated to pay an additional $400,000 in cash and
issue an additional 75,000 shares of our common stock over the two next years in order to pay the entire purchase price. To date we have
spent $354,000 renovating the property and an additional $400,000 on extraction and analytical lab equipment. We plan to complete the
property renovations at an estimated cost of $300,000, if we raise sufficient funding. We will need additional extraction equipment and
analytical lab equipment, totaling approximately $700,000. During the year ended December 31, 2019, construction in progress in the amount
of $499,695 was fully impaired due to the fact we may not receive funds to complete the research facility center project. There was no
work performed on the facility in 2019 - 2022. We will need to raise additional funds in order to complete the planned renovations and
pay the purchase price for the equipment.  On July 24, 2023, we sold another La Veta property for $1,800,000 and $988,375 was recorded
as gain on sale.

Previously, we also owned a $1.2 million dollar
property in Cucharus, CO that was used as WEED’s corporate