WEED, Inc.

BUDZ: 10-Q · periodic report

WEED, Inc. filed its 10-Q for the quarter ended June 30, 2026 reporting zero revenue for the quarter and first half, with a net loss of $104,132 for Q2 2026 and $279,392 for the six months, an improvement from $548,071 a year earlier. The company disclosed substantial doubt about its ability to continue as a going concern: cash was just $1,066, working capital was negative $1,435,565, stockholders' equity was negative $939,171, and the accumulated deficit reached $86,554,873. Operations are funded almost entirely by related-party loans from officers Glenn Martin and Nicole Breen, with a monthly burn rate of roughly $2,600. Management concluded that disclosure controls and procedures were not effective, citing the absence of an audit committee and one individual, Glenn E. Martin, serving as both CEO and CFO. The company has never generated revenue since inception and says future plans — cannabis genomics, Arizona hemp licenses, New York property development, and a digital-asset venture with Remergify (WEEDCoin and BUDZCoin) — all depend on securing new financing that is not assured.

SEC 10-Q•2mo ago

BUDZ: 10-Q · periodic report

WEED, Inc. reported a net loss of $175,256 for the quarter ended March 31, 2026, with zero revenue generated. The company holds only $1,795 in cash against total liabilities of $1.35 million, including $534,749 in related-party debt and $414,750 in accrued officer compensation. Management disclosed substantial doubt about the company’s ability to continue as a going concern, citing a monthly burn rate of approximately $12,000 and a lack of revenue. The filing notes that without securing additional equity or debt financing, it is unlikely the company can continue operations. The company issued 880,000 shares valued at $26,400 for services during the quarter and acknowledged ineffective disclosure controls due to the absence of an audit committee and one individual serving as both CEO and CFO. It also dissolved non-essential international subsidiaries, WEED Hong Kong Ltd. and WEED Australia Ltd., to reduce overhead.

SEC 10-Q•5mo ago