Company: BUDZ
Filing Date: 2025-03-31
Form Type: 10-K
Source: 0001096906-25-000350
Chunk: 215

Company: WEED, INC.
Filing Date: 2025-03-31
Form: 10-K
Item: Item 1B
Chunk 215
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    $10.55 
  
    Granted 
     -  
     - 
  
    Exercised/Expired/Cancelled 
     -  
     - 
  
    Outstanding at the end of period 
     6,000,000  
    $10.55 
  
    Exercisable at the end of period 
     6,000,000  
    $10.55 

Note 11 – Other Income

During the year ended December 31, 2024, the Company received a $35,000 settlement from the Titan laboratory deal. This amount represents
refunds from the prepaid rent of a purchase deal that fell through in 2023.

F-16

Note 12 – Income Tax

The Company accounts for income taxes under FASB ASC
740-10, which requires use of the liability method. FASB ASC 740-10-25 provided that deferred tax assets and liabilities, are recorded
based on the differences between the tax bases of assets and liabilities and their carrying amounts for financial reporting purposes,
referred to as temporary differences.

For the years ended December 31, 2024 and year ended
December 31, 2023, 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 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