Dogecoin Cash, Inc 10-Q for FY2023 Q2

Dogecoin Cash, Inc. (DOGP)

10-Q 2023-08-21 For: 2023-06-30

Added on April 06, 2026

About this 10-Q

Dogecoin Cash, Inc filed this 10-Q on August 21, 2023, covering the quarter ended June 30, 2023 (FY2023 Q2).

Headline figures

Quarter ended June 30, 2023, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $323.2K; down 29.1% from $456.09K a year earlier
Net loss: $316.34K; compared with a net loss of $318.54K a year earlier

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☒	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the quarterly period ended: June 30, 2023

or

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

	For the transition period from: _____________ to _____________

Nevada		20-1898270
(State or Other Jurisdiction		(I.R.S. Employer
of Incorporation)		Identification No.)

Title of each class	Trading Symbol	Name of each exchange on which registered.
None

Large accelerated filer	☐	Accelerated filer	☐
Non-accelerated Filer	☐	Smaller reporting company	☒
Emerging growth company	☒

	Three Months Ended
	A			B			A-B
	June 30, 2023			June 30, 2022			Change			Change %
REVENUE	$	323,197		$	456,088		$	(132,891	)		(29	)%
Cost of revenues		120,608			170,541			(49,933	)		(29	)%
Cost of sales % of total sales		37	%		37	%				(-0-)		%
Gross profit		202,589			285,547			(82,958	)		(29	)%
Gross profit % of sales		63	%		63	%				(-0-)		%
EXPENSES
Professional fees		108,757			89,502			19,255			22	%
Depreciation and amortization		37,990			42,354			(4,364	)		(10	)%
Wages and salaries		209,690			184,150			25,540			14	%
Advertising		4,630			15,308			(10,678	)		(70	)%
General and administrative		146,339			128,762			17,577			14	%
Total expenses		507,406			460,076			47,330			10	%
NET LOSS FROM CONTINUING OPERATIONS		(304,817	)		(174,529	)		(130,288	)		(75	)%

	Six Months Ended
	A			B			A-B
	June 30, 2023			June 30, 2022			Change			Change %
REVENUE	$	668,565		$	879,789		$	(211,224	)		(24	)%
Cost of revenues		226,009			329,230			(103,221	)		(31	)%
Cost of sales % of total sales		34	%		37	%					(3	)%
Gross profit		442,556			550,559			(108,003	)		(20	)%
Gross profit % of sales		66	%		63	%					3	%
EXPENSES
Professional fees		161,898			211,408			(49,510	)		(23	)%
Depreciation and amortization		75,979			84,707			(8,728	)		(10	)%
Wages and salaries		324,793			370,911			(46,118	)		(12	)%
Advertising		7,476			31,529			(24,053	)		(76	)%
General and administrative		289,588			356,364			(66,776	)		(19	)%
Total expenses		859,734			1,054,919			(195,185	)		(19	)%
NET LOSS FROM CONTINUING OPERATIONS		(417,178	)		(504,360	)		87,182			17	%

Exhibit Number	SEC Reference Number	Title of Document	Notes

3.1	3	Articles of Incorporation	(1)
3.2	3	Bylaws	(1)
31.1	31	Section 302 Certification of Principal Executive Officer
31.2	31	Section 302 Certification of Principal Financial Officer
32.1	32	Section 1350 Certification of Principal Executive Officer
32.2	32	Section 1350 Certification of Principal Financial Officer
101.INS		XBRL Instance Document	(2)
101.SCH		XBRL Taxonomy Extension Schema	(2)
101.CAL		XBRL Taxonomy Extension Calculation Linkbase	(2)
101.DEF		XBRL Taxonomy Extension Definition Linkbase	(2)
101.LAB		XBRL Taxonomy Extension Label Linkbase	(2)
101.PRE		XBRL Taxonomy Extension Presentation Linkbase	(2)

		*Page*

FINANCIAL STATEMENTS - UNAUDITED – for the three and six months ended June 30, 2023 and 2022:

Condensed Consolidated balance sheets		FS - 2

Condensed Consolidated statements of operations		FS - 3

Condensed Consolidated statements of changes in stockholders’ equity		FS - 4

Condensed Consolidated statements of cash flows		FS - 5

Notes to Condensed consolidated financial statements		FS – 6 through FS – 13

CANNABIS SATIVA, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED

	June 30,			December 31,
	2023			2022
ASSETS
Current Assets
Cash	$	58,124		$	97,445
Investment in equity securities, at fair value		1,200			379,858
Right of use asset		24,958			—

Total Current Assets		84,282			477,303

Advances to related party		75,054			55,666
Right of use asset		—			38,968
Property and equipment, net		2,572			2,709
Intangible assets, net		83,101			158,943
Goodwill		1,837,202			1,837,202

Total Assets	$	2,082,211		$	2,570,791

LIABILITIES AND STOCKHOLDERS’ EQUITY

Current Liabilities
Accounts payable and accrued expenses	$	133,093		$	164,411
Operating lease liability, current		24,958			28,736
Accrued interest - related parties		16,474			16,374
Convertible notes payable		211,762			168,500
Notes payable to related parties		144,421			91,700

Total Current Liabilities		530,708			469,721

Long-term liabilities
Operating lease liability, long term		—			10,232
Stock payable		542,421			418,156

Total Liabilities		1,073,129			898,109

Commitments and contingencies (Notes 6 and 8)

Stockholders’ Equity:

Preferred stock $0.001 par value; 5,000,000 shares authorized; -0- and 777,654 issued and outstanding, respectively		—			—
Common stock $0.001 par value; 495,000,000 shares authorized; 50,048,273 and 45,566,363 shares issued and outstanding, respectively		50,049			45,567
Additional paid-in capital		81,087,973			80,939,618
Accumulated deficit		(81,458,477	)		(80,603,069	)

Total Cannabis Sativa, Inc. Stockholders’ Equity (Deficit)		(320,455	)		382,116

Non-Controlling Interest		1,329,537			1,290,566

Total Stockholders’ Equity		1,009,082			1,672,682

Total Liabilities and Stockholders’ Equity	$	2,082,211		$	2,570,791

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CANNABIS SATIVA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED

											Additional						Non-controlling
	Preferred Stock						Common Stock				Paid-In			Accumulated			Interest -
	Shares			Amount			Shares		Amount		Capital			Deficit			Prestocorp			Total

Balance - January 1, 2022		777,654		$	778			30,746,865	$	30,748	$	79,151,240		$	(79,475,968	)	$	1,338,102		$	1,044,900
Net loss for period		—			—			—		—		—			(90,891	)		(9,462	)		(100,353	)

Balance - March 31, 2022		777,654			778			30,746,865		30,748		79,151,240			(79,566,859	)		1,328,640			944,547
Conversion of preferred to common (1:1)		(131,880	)		(132	)		131,880		132		—			—			—			—
Conversion of preferred to common (19:1)		(288,223	)		(288	)		5,476,237		5,476		(5,188	)		—			—			—
Shares issued for services		458,333			458			1,306,242		1,306		348,743			—			—			350,507
Shares issued in consideration of notes and interest payable - related parties		—			—			7,089,255		7,089		1,410,762			—			—			1,417,851
Net income (loss) for period		—			—			—		—		—			(350,565	)		32,029			(318,536	)

Balance - June 30, 2022		815,884		$	816			44,750,479	$	44,751	$	80,905,557		$	(79,917,424	)	$	1,360,669		$	2,394,369


Balance - January 1, 2023		—		$	—			45,566,363	$	45,567	$	80,939,618		$	(80,603,069	)	$	1,290,566		$	1,672,682
Common Stock Issued - Note Payable Conversion		—			—			320,513		321		25,316			—			—			25,637
Net income (loss) for the period		—			—			—		—		—			(522,922	)		22,821			(500,101	)

Balance - March 31, 2023		—			—			45,886,876		45,888		80,964,934			(81,125,991	)		1,313,387			1,198,218
Common Stock Issued - Note Payable Conversion		—			—			1,711,397		1,711		37,289			—			—			39,000
Shares issued for services		—			—			2,450,000		2,450		85,750			—			—			88,200
Net income (loss) for the period		—			—			—		—		—			(332,486	)		16,150			(316,336	)

Balance - June 30, 2023		—		$	—			50,048,273	$	50,049	$	81,087,973		$	(81,458,477	)	$	1,329,537		$	1,009,082

The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

CANNABIS SATIVA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - UNAUDITED

For the six months ended June 30,	2023			2022

CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss for the period	$	(816,437	)	$	(418,889	)
Adjustments to reconcile net loss for the period to net cash used in operating activities:
Unrealized loss (gain) on investments		213,883			(104,642	)
Depreciation and amortization		75,979			84,707
Loss on debt settlement		10,527			—
Loss on sale of investment securities		155,735			—
Stock issued for services		88,200			350,507
Stock payable for services		196,527			—
Note payable issued for services		55,000			30,000
Write off of abandoned equipment		—			583
Changes in Assets and Liabilities:
Accounts payable and accrued expenses		(31,321	)		1,424
Accrued interest - related parties		50			15,424
Net Cash Provided by (Used in) Operating Activities		(51,857	)		(40,886	)

Cash Flows from Investing Activities:
Proceeds from sale of stock held for investment		9,040			—
Advances to related party		(19,388	)		—
Net Cash Used in Investing Activities		(10,348	)		—

Cash Flows from Financing Activities:
Proceeds from related parties notes payable, net		22,884			41,340
Net Cash Provided by Financing Activities		22,884			41,340

NET CHANGE IN CASH		(39,321	)		454

CASH AT BEGINNING OF PERIOD		97,445			194,060

CASH AT END OF PERIOD	$	58,124		$	194,514

Supplemental Disclosures of Non Cash Activities:
Noncash investing and financing activities
Shares issued in consideration of notes and interest payable - related parties	$	30,000		$	1,417,851
Shares issued in consideration of convertible notes payable	$	39,000
Recognition of operating lease liability and right of use asset	$	—		$	56,595
The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.

	·	PrestoCorp, Inc. (“PrestoCorp”)
	·	Wild Earth Naturals, Inc. (“Wild Earth”)
	·	Kubby Patent and Licenses Limited Liability Company (“KPAL”)
	·	Hi Brands, International, Inc. (“Hi Brands”)
	·	Eden Holdings LLC (“Eden”).

	June 30, 2023			December 31, 2022
CBDS.com website (Cannabis Sativa)	$	13,999		$	13,999
Intellectual Property Rights (PrestoCorp)		240,000			240,000
Patents and Trademarks (KPAL)		1,281,411			1,281,411
Total Intangibles		1,535,410			1,535,410
Less: Accumulated Amortization		(1,452,309	)		(1,376,467	)
Net Intangible Assets	$	83,101		$	158,943

July 1, 2023 to June 30, 2024	$	78,432
July 1, 2024 to June 30, 2025		932
July 1, 2025 to June 30, 2026		932
July 1, 2026 to June 30, 2027		932
July 1, 2027 to June 30, 2028		932
July 1, 2028 to June 30, 2029		941

	Related party notes		Accrued interest		Total
	June 30, 2023
David Tobias, CEO & Director	$	55,421	$	12,482	$	67,903
New Compendium, greater than 10% Shareholder		-		1,906		1,906
Cathy Carroll, Director		85,000		986		85,986
Other Affiliates		4,000		1,100		5,100
Totals	$	144,421	$	16,474	$	160,895

From July 1, 2023 to June 30, 2024	$	25,900
Less imputed interest		(942	)
Net lease liability		24,958
Current Portion		(24,958	)
Long-term portion	$	-0-

	·	The name of the surviving company in the Merger will be Cannabis Sativa, Inc.
	·	Each share of MJHI common stock outstanding on the effective date of the Merger will be converted into 2.7 shares of CBDS Common Stock.
	·	The Merger is subject to majority approval of the shareholders of both MJHI and CBDS.
	·	The shareholders of MJHI and CBDS will have rights to dissent from the Merger, and, if the notice of dissent is properly given, the dissenting shareholders may be paid fair value for such dissented shares.
	·	The Board of Directors of the surviving company following the Merger is intended to consist of Patrick Bilton, Randy Lanier, Clinton Pyatt, and David Tobias.
	·	The Executive Officers of the Company following the Merger are intended to include Patrick Bilton - Chief Executive Officer, Clinton Pyatt - Chief Operating Officer.
	·	The Merger Agreement includes representations and warranties, covenants, and conditions for MJHI and CBDS as are customary for transactions of this nature.
	·	No brokerage fees are payable in connection with the Merger.
	·	If majority shareholder approval of the merger is not obtained, the Merger will not occur, and the Merger Agreement will be terminated.
	·	All costs and expenses in connection with the Merger transactions will be borne by CBDS, except that MJHI will be responsible for expenses of its own legal counsel and auditing costs.

1.	I have reviewed this Quarterly Report on Form 10-Q for the quarter ended June 30, 2023, of Cannabis Sativa, Inc., (the “Registrant”);

2.	Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3.	Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the Registrant as of, and for, the periods presented in this report;

4.	The Registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) for the Registrant and have:

	a)	designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the Registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

	b)	designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

	c)	evaluated the effectiveness of the Registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

	d)	disclosed in this report any change in the Registrant’s internal control over financial reporting that occurred during the Registrant’s most recent fiscal quarter (the Registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting; and

	a)	all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the Registrant’s ability to record, process, summarize and report financial information; and

	b)	any fraud, whether or not material, that involves management or other employees who have a significant role in the Registrant’s internal control over financial reporting.

Date: August 21, 2023	By:	/s/ David Tobias
		Principal Executive Officer

Date: August 21, 2023	By:	/s/ David Tobias
		David Tobias, Principal Financial Officer

(1)	The Quarterly Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2)	The information contained in the Quarterly Report fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

Dated: August 21, 2023

	/s/ David Tobias
	David Tobias Principal Executive Officer

Dated: August 21, 2023

	/s/ David Tobias
	David Tobias Principal Financial Officer