CannaSys Inc. (fka MJTK)

[Deeznutz187-420]

For the three months ended March 31, 2017, we had total other expense of $2,343,827, compared to $111,097 for the three months ended March 31, 2016. For the three months ended March 31, 2017, we recorded interest expense of $8,262, amortization of debt discount and loan financing fees, including penalties of $295,194, and a loss on the issuance of convertible debt of $2,040,371. In the prior period, we recorded interest expense of $7,825, amortization of debt discount of $92,500, and a loss on the issuance of convertible debt of $10,772.

 Damn we in debt compaired to last year!!!!!

And we are all in the same boat waiting on 2016 pod cast results.....

Come on Citizen TOKE  be our savior!!! Bring us out of debt........

We even sold our firniture!!!!!!!

NOTE 3—GOING CONCERN
As reflected in the accompanying financial statements, we have an accumulated deficit of $13,064,966 at March 31, 2017, had a net loss of $2,600,674, and used net cash of $273,159 in operating activities for three months ended March 31, 2017. These factors raise substantial doubt about our ability to continue as a going concern. The financial statements have been prepared assuming that we will continue as a going concern. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts or amounts and classification of liabilities that might be necessary should we be unable to continue as a going concern.

 

While we are attempting to increase operations and revenues, our cash position may not be significant enough to support our daily operations. Management intends to raise additional funds by way of debt and equity financing. Management believes that the actions presently being taken to further implement our business plan and generate increased revenues provide the opportunity for us to continue as a going concern. While we believe in the viability of our strategy to generate increased revenues and in our ability to raise additional funds, there can be no assurances to that effect. Our ability to continue as a going concern is dependent upon our ability to further implement our business plan and generate increased revenues. The financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern.

 

NOTE 4—PROPERTY AND EQUIPMENT
Furniture, fixtures, and equipment, stated at cost, less accumulated depreciation consisted of the following at:
March 31,
2017
December 31, 2016
Furniture, fixtures, and equipment
$        -
$ 8,403
Less: accumulated depreciation
-
(4,637)
Loss on disposal
-
 (3,766)

Fixed assets, net
$        -
$        -
During the year ended December 31, 2016, we disposed of $8,403 of office furniture we were no longer using, resulting in a loss on disposal of $3,766.

Should of sold it on Craigslist, could of made something....

I need a new office chair