Dogecoin Cash, Inc 10-Q for FY2023 Q1

Dogecoin Cash, Inc. (DOGP)

10-Q 2023-06-14 For: 2023-03-31

Added on April 06, 2026

About this 10-Q

Dogecoin Cash, Inc filed this 10-Q on June 14, 2023, covering the quarter ended March 31, 2023 (FY2023 Q1).

Headline figures

Quarter ended March 31, 2023, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $345.37K; down 18.5% from $423.7K a year earlier
Net loss: $500.1K; compared with a net loss of $100.35K 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: March 31, 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
	March 31, 2023			March 31, 2022			Change			Change %
REVENUE	$	345,368		$	423,701		$	(78,333	)		(18	)%
Cost of revenues		105,401			158,689			(53,288	)		(34	)%
Cost of sales % of total sales		31	%		37	%		(6	)%
Gross profit		239,967			265,012			(25,045	)		(9	)%
Gross profit % of sales		69	%		63	%		6	%
EXPENSES
Professional fees		53,141			121,906			(68,765	)		(56	)%
Depreciation and amortization		37,989			42,353			(4,364	)		(10	)%
Wages and salaries		115,103			186,761			(71,658	)		(38	)%
Advertising		2,846			16,221			(13,375	)		(82	)%
General and administrative		143,249			227,602			(84,353	)		(37	)%
Total expenses		352,328			594,843			(242,515	)		(41	)%
NET LOSS FROM CONTINUING OPERATIONS		(112,361	)		(329,831	)		217,470			(66	)%

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 months ended March 31, 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

	March 31,			December 31,
	2023			2022
ASSETS
Current Assets
Cash	$	102,399		$	97,445
Investment in equity securities, at fair value		3,600			379,858

Total Current Assets		105,999			477,303

Advances to related party		75,054			55,666
Right of use asset		32,050			38,968
Property and equipment, net		2,640			2,709
Intangible assets, net		121,022			158,943
Goodwill		1,837,202			1,837,202

Total Assets	$	2,173,967		$	2,570,791

LIABILITIES AND STOCKHOLDERS EQUITY

Current Liabilities
Accounts payable and accrued expenses	$	128,483		$	164,411
Operating lease liability, current		29,460			28,736
Accrued interest - related parties		16,424			16,374
Convertible notes payable		250,762			168,500
Notes payable to related parties		117,761			91,700

Total Current Liabilities		542,890			469,721

Long-term liabilities
Operating lease liability, long term		2,590			10,232
Stock payable		430,269			418,156

Total Liabilities		975,749			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; 45,886,878 and 45,566,363 shares issued and outstanding, respectively		45,888			45,567
Additional paid-in capital		80,964,934			80,939,618
Accumulated deficit		(81,125,991	)		(80,603,069	)

Total Cannabis Sativa, Inc. Stockholders' Equity (Deficit)		(115,169	)		382,116

Non-Controlling Interest		1,313,387			1,290,566

Total Stockholders' Equity		1,198,218			1,672,682

Total Liabilities and Stockholders' Equity	$	2,173,967		$	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


For the three months ended March 31,	2023			2022

Revenues	$	345,368		$	423,701

Cost of Revenues		105,401			158,689

Gross Profit		239,967			265,012

Operating Expenses
Professional fees		53,141			121,906
Depreciation and amortization		37,989			42,353
Wages and salaries		115,103			186,761
Advertising		2,846			16,221
General and administrative		143,249			227,602

Total Operating Expenses		352,328			594,843

Loss from Operations		(112,361	)		(329,831	)

Other (Income) and Expenses
Unrealized (gain) loss on investment		211,483			(246,654	)
Loss on debt settlement		10,641			—
Loss on sale of investment securities		155,735			—
Interest expense		9,881			17,176

Total Other (Income) Expenses, Net		387,740			(229,478	)

Loss Before Income Taxes		(500,101	)		(100,353	)

Income Taxes		—			—

Net Loss for the Period		(500,101	)		(100,353	)

Income (loss) attributable to non-controlling interest - PrestoCorp		22,821			(9,462	)

Net Loss for the Period Attributable To Cannabis Sativa, Inc.	$	(522,922	)	$	(90,891	)

Net Loss for the Period per Common Share: Basic & Diluted	$	(0.01	)	$	(0.00	)

Weighted Average Common Shares Outstanding:
Basic & Diluted		45,669,639			30,746,865

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

CANNABIS SATIVA, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY FOR THE PERIOD ENDED MARCH 31, 2023 AND 2022 - 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

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 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

	·	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”).

	March 31, 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		(1,414,388	)		(1,214,604	)
Net Intangible Assets	$	121,022		$	320,806

April 1, 2023 to March 31, 2024	$	116,120
April 1, 2024 to March 31, 2025		932
April 1, 2025 to March 31, 2026		932
April 1, 2026 to March 31, 2027		932
April 1, 2027 to March 31, 2028		932
April 1, 2028 to March 31, 2029		1,174

	Related party notes		Accrued interest		Total
	March 31, 2023
David Tobias, CEO & Director	$	43,761	$	12,482	$	56,243
New Compendium, greater than 10% Shareholder		-		1,906		1,906
Cathy Carroll, Director		70,000		986		70,986
Other Affiliates		4,000		1,050		5,050
Totals	$	117,761	$	16,424	$	134,185

From April 1, 2023 to March 31, 2024	$	31,080
From April 1, 2024 to March 31, 2025		2,590
Subtotal		33,670
Less imputed interest		(1,620	)
Net lease liability		32,050
Current Portion		(29,460	)
Long-term portion	$	2,590

	·	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 March 31, 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: June 14, 2023		By:	/s/ David Tobias
			Principal Executive Officer

Date: June 14, 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: June 14, 2023

	/s/ David Tobias
	David Tobias Principal Executive Officer

Dated: June 14, 2023

	/s/ David Tobias
	David Tobias Principal Financial Officer