(Total Views: 375)
Posted On: 09/28/2018 11:59:54 AM
Post# of 2219
A1. From August 1, 2017 through August 7, 2017, the Company generated approximately $140,400 from 117 pounds harvested.
Dated: September 21, 2017
Q1. How does the company account for the plants it grows? They don’t appear as assets on balance sheet.
A.1. The Company has concluded to expense these costs instead of capitalizing them (making them assets) as the Company does not yet has proven that such costs incurred will have success in growing or cultivating cannabis since no sells have occurred . The Company is a startup in this cultivation and until success is proven, the Company will continue to expense these costs until the Company has initial success in cultivating cannabis.
https://www.sec.gov/cgi-bin/browse-edgar?acti...p;count=40
So which lie is the truth? Revenue from 117 pounds harvested but none was sold as of September 21?
Dated: September 21, 2017
Q1. How does the company account for the plants it grows? They don’t appear as assets on balance sheet.
A.1. The Company has concluded to expense these costs instead of capitalizing them (making them assets) as the Company does not yet has proven that such costs incurred will have success in growing or cultivating cannabis since no sells have occurred . The Company is a startup in this cultivation and until success is proven, the Company will continue to expense these costs until the Company has initial success in cultivating cannabis.
https://www.sec.gov/cgi-bin/browse-edgar?acti...p;count=40
So which lie is the truth? Revenue from 117 pounds harvested but none was sold as of September 21?
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