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Hemp, Inc. and Subsidiaries
Balance Sheets
(Unaudited)
December 31, December 31,
2014 2013
RESTATED
ASSETS
CURRENT ASSETS
Cash and cash equivalents $ 243,424 $ 11,933
Securities held for sale 2,457,245 -
Escrow account 10,000 -
Inventory 291,091 52,742
Prepaid interest 488,533 -
Prepaid rent 20,000 -
Total Current Assets 3,510,293 64,675
OTHER ASSETS
Investment in 420 Café - 5,000
Investment in Wild Herb - 5,000
Investment in Red Rock Naturals - 2,500
Kins investment - 2,761
Leasehold improvements - 2,500
LPO software 1,810,775 1,810,775
Tax tracking software 156,250 156,250
Social network software - 382,000
Property, Plant, and Equipment-net 1,130,127 -
Total Other Assets 3,097,152 2,366,786
TOTAL ASSETS $ 6,607,445 $ 2,431,461
LIABILITIES AND STOCKHOLDERS' EQUITY/(DEFICIT)
CURRENT LIABILITIES
Accounts payable and accrued liabilities $ 175,489 $ 2,490
Due to B. Perlowin 1,194,838 175,310
Due to D. Tobias 16,310 16,310
Payroll taxes payable 347 -
TOTAL CURRENT LIABILITIES 1,386,984 194,110
NON-CURRENT LIABILITIES
Contingent disputed liability - JS 12,105 12,105
Note payable and accrued interest 1,991,667 -
TOTAL NON-CURRENT LIABILITIES 2,003,772 12,105
TOTAL LIABILITIES 3,390,756 206,215
STOCKHOLDERS' DEFICIT
Preferred stock:
500,000,000 shares authorized, $0.00001 par value
108,470,378 and 215,182,600 shares issued 1,085 2,152
Preferred K stock:
250,000,000 shares authorized, $0.00001 par value
154,851,253 and 125,453,401 shares issued 1,548 1,255
Common stock:
3,000,000,000 common shares, $0.00001 par value
27,361 18,274
Additional paid-in capital 15,576,450 9,092,887
Subscriptions payable 605,821 802,441
Other comprehensive income/(expense) (5,092,884) (693,905)
Retained earnings/(deficit) (7,902,692) (6,997,858)
Total Stockholders' Equity/(Deficit) 3,216,689 2,225,246
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 6,607,445 $ 2,431,461
Hemp, Inc. and Subsidiaries
Statements of Operations
(Unaudited)
For the Year Ended
December 31,
RESTATED
SALES $ 7,952,014 $ 2,370,925
Cost of sales 35,819 594,195
GROSS MARGIN 7,916,195 1,776,730
OPERATING EXPENSES
Compensation - stock based 4,797,106 1,703,989
Professional and consulting fees 1,537,295 447,801
Occupancy expenses 167,056 146,142
Travel 39,694 32,966
Advertising and promotion 195,419 55,592
General and administrative 474,053 735,662
Total Operating Expenses 7,210,623 3,122,152
NET INCOME (LOSS) FROM OPERATIONS 705,572 (1,345,422)
OTHER INCOME (EXPENSE)
Gains/(losses) (831,868) -
Interest income 18,915 2
Other income 14,452 -
Impairment (382,000) -
Interest expense (429,905) -
Total other income (expense) (1,610,406) 2
NET INCOME (LOSS) BEFORE TAXES (904,834) (1,345,420)
Provision for income taxes - -
NET INCOMELOSS $ (904,834) $ (1,345,420)
PER SHARE DATA:
Basic and diluted income
(loss) per common share $ (0.00) $ (0.00)
Weighted average number of
common shares outstanding 2,366,956,901 1,434,482,583
Sensing a definite trap door! Watch out below....here come .015....grab them while you can.
This is poop stock! Pure poop! Prepare for double zeros!
What happened to this bunch a poop?!? I turn my head and it's heading a straight line to subpennies!
Typical Hemp day.....good news....closes red....what a POS
More red today boys....bleeding out yet?
Closed red......
Uh...no...no it doesn't....it doesn't say that at all...it says looking for suckers to invest...
Definitely NOT adding more here!
what happened to partner *BXU?
Wow...look at this turd fall...down down down like rolling ball of fire...
If you boys are giving away money i'll take some..this turd is going red fast
On our way down to the copper coin folks....hold on....
yes i remember. this thing is going lower tomorrow...red day ahead
This thing going subpenny soon IMO
turn the monitor around....it's upside down...
A lot of red to be bleed today...this thing is goin to penny before it goes to a dime...
Don't know where you see green...this turd is bottoming to the depths of hell...glad i sold...
Very disappointing...back on the sidelines...
You can buy mines at .042
I don't i'm skeptical that the actual results of the elections will have any effect on this stock. It's mostly the hype up to the election that is effecting the stock. Not to say this stock won't go up in time because i think it will but not really this week after the elections. JMO
Nah i'm good so far. I don't play penny stocks with bill money but i will sell if it goes below initial investment..still watching close.
This pig heading to the depths of hell..watch out below!
EOY
shorts departing...back up we go...
looking for a nice .039 dip here...
sure did .... but didn't hold it as you said...
Nope it touched .0419
Back on the sidelines again..we'll see where this goes...
not with my money it ain't lol
Looking like a hiccup..almost time to sell before bruce gets all my little gain...
Watching and eating my popcorn...
Very interesting...watching very closely here...
Yes! Tell us what your thoughts are these days!
Double Zeros soon....
Why bother...just to detuct it back off come monday....
This stock looks like poop to me too!!! Sure smells like poop! Just seems to get pumped then back down the same ol downtrend again!
so was the deduction in people brokerage accounts...
Yup lost 70 bucks on this turd lol
just another dead bounce...pump & dump