0001477932-18-003910.txt : 20180809 0001477932-18-003910.hdr.sgml : 20180809 20180809161141 ACCESSION NUMBER: 0001477932-18-003910 CONFORMED SUBMISSION TYPE: 10-Q PUBLIC DOCUMENT COUNT: 76 CONFORMED PERIOD OF REPORT: 20180630 FILED AS OF DATE: 20180809 DATE AS OF CHANGE: 20180809 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Terra Tech Corp. CENTRAL INDEX KEY: 0001451512 STANDARD INDUSTRIAL CLASSIFICATION: ENGINES & TURBINES [3510] IRS NUMBER: 263062661 STATE OF INCORPORATION: NV FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 10-Q SEC ACT: 1934 Act SEC FILE NUMBER: 000-54258 FILM NUMBER: 181005144 BUSINESS ADDRESS: STREET 1: 2040 MAIN STREET STREET 2: SUITE 225 CITY: IRVINE STATE: CA ZIP: 92614 BUSINESS PHONE: 855-447-6967 MAIL ADDRESS: STREET 1: 2040 MAIN STREET STREET 2: SUITE 225 CITY: IRVINE STATE: CA ZIP: 92614 FORMER COMPANY: FORMER CONFORMED NAME: PRIVATE SECRETARY, INC. DATE OF NAME CHANGE: 20081205 10-Q 1 trtc_10q.htm FORM 10-Q trtc_10q.htm

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

x QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the Quarterly Period Ended June 30, 2018

 

or

 

¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the Transition Period From ____________ to ____________

 

Commission File Number: 000-54258

 

TERRA TECH CORP.

(Exact Name of Registrant as Specified in its Charter)

 

NEVADA

26-3062661

(State or Other Jurisdiction of Incorporation or Organization)

(I.R.S. Employer Identification No.)

 

2040 Main Street, Suite 225

Irvine, California

92614

(Address of Principal Executive Offices)

(Zip Code)

 

(855) 447-6967

(Registrant’s Telephone Number, Including Area Code)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities and Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes x No ¨

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate website, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (section 232.405 of this chapter) during the preceding 12 months (or such shorter period that the registrant was required to submit and post such files). Yes x No ¨

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act. (Check one):

 

Large accelerated filer

¨

Accelerated filer

x

Non-accelerated filer

¨

Smaller reporting company

¨

Emerging growth company

¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ¨ No x

 

As of August 6, 2018, there were 72,189,614 shares of common stock outstanding, 8 shares of Series A Preferred Stock, convertible at any time into 8 shares of common stock, 0 shares of Series B Preferred Stock, 1,092,754 shares of common stock issuable upon the exercise of all of our outstanding warrants and 884,207 shares of common stock issuable upon the exercise of all vested options.

 

 
 
 

 TERRA TECH CORP.

INDEX TO FORM 10-Q FOR THE

QUARTERLY PERIOD ENDED JUNE 30, 2018

 

PART I — FINANCIAL INFORMATION

   

Page

Item 1. Financial Statements  
  Consolidated Balance Sheets as of June 30, 2018 (Unaudited) and December 31, 2017

3

  Consolidated Statements of Operations for the Three and Six Months Ended June 30, 2018 and 2017 (Unaudited)

4

  Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2018 and 2017 (Unaudited)

5

  Notes to Unaudited Consolidated Financial Statements

6

   

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

31

  Company Overview

31

  Results of Operations

34

  Disclosure About Off-Balance Sheet Arrangements

37

  Critical Accounting Policies and Estimates

37

  Liquidity and Capital Resources

37

Item 3. Quantitative and Qualitative Disclosures About Market Risk

38

   

 

Item 4. Controls and Procedures

39

   

 

PART II — OTHER INFORMATION

   

 

Item 1. Legal Proceedings

41

   

 

Item 1A. Risk Factors

42

   

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

42

   

 

Item 3. Defaults Upon Senior Securities

42

   

 

Item 4. Mine Safety Disclosures

42

   

 

Item 5. Other Information

42

     
Item 6. Exhibits

43

   

 

Signatures

44

 

 
2
 
Table of Contents

 

TERRA TECH CORP. AND SUBSIDIARIES 

 

CONSOLIDATED BALANCE SHEETS 

 

 

 

 

 

 

 

 

June 30,

 

 

December 31, 

 

 

 

2018

 

 

2017

 

 

 

(Unaudited)

 

 

 

ASSETS 

 

 

 

 

 

 

 

 

Current Assets:

 

 

 

 

 

 

Cash

 

$ 5,153,608

 

 

$ 5,445,582

 

Accounts Receivable

 

 

1,210,446

 

 

 

959,698

 

Notes Receivable

 

 

6,158,731

 

 

 

5,010,143

 

Inventory

 

 

3,840,773

 

 

 

5,760,019

 

Assets Held for Sale

 

 

904,352

 

 

 

-

 

Prepaid Expenses and Other Current Assets

 

 

1,086,989

 

 

 

1,067,689

 

 

 

 

 

 

 

 

 

 

Total Current Assets

 

 

18,354,899

 

 

 

18,243,131

 

 

 

 

 

 

 

 

 

 

Property, Equipment and Leasehold Improvements, Net

 

 

34,940,408

 

 

 

19,191,616

 

Intangible Assets, Net

 

 

26,696,348

 

 

 

27,773,110

 

Goodwill

 

 

28,921,260

 

 

 

28,921,260

 

Other Assets

 

 

878,098

 

 

 

4,058,682

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS 

 

$ 109,791,013

 

 

$ 98,187,799

 

 

 

 

 

 

 

 

 

 

LIABILITIES AND STOCKHOLDERS’ EQUITY 

LIABILITIES: 

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

 

 

 

Accounts Payable and Accrued Expenses

 

$ 4,076,973

 

 

$ 5,444,710

 

Derivative Liabilities

 

 

1,891,400

 

 

 

9,331,400

 

 

 

 

 

 

 

 

 

 

Total Current Liabilities

 

 

5,968,373

 

 

 

14,776,110

 

 

 

 

 

 

 

 

 

 

Long-Term Liabilities:

 

 

 

 

 

 

 

 

Long-Term Debt, Net of Discounts

 

 

12,811,403

 

 

 

6,609,398

 

 

 

 

 

 

 

 

 

 

Total Long-Term Liabilities

 

 

12,811,403

 

 

 

6,609,398

 

 

 

 

 

 

 

 

 

 

Total Liabilities 

 

 

18,779,776

 

 

 

21,385,508

 

 

 

 

 

 

 

 

 

 

COMMITMENTS AND CONTINGENCIES 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

STOCKHOLDERS’ EQUITY: 

 

 

 

 

 

 

 

 

Preferred Stock, Convertible Series A, Par Value 0.001:

 

 

-

 

 

 

-

 

100 Shares Authorized as of June 30, 2018 and December 31, 2017; 8 Shares Issued and Outstanding as of June 30, 2018 and December 31, 2017

Preferred Stock, Convertible Series B, Par Value 0.001:

 

 

-

 

 

 

-

 

49,999,900 Shares Authorized as of June 30, 2018 and December 31, 2017; 0 Shares Issued and Outstanding as of June 30, 2018 and December 31, 2017

Common Stock, Par Value 0.001:

 

 

70,853

 

 

 

61,819

 

990,000,000 Shares Authorized as of June 30, 2018 and December 31, 2017; 70,852,978 and 61,818,560 Shares Issued and Outstanding as of June 30, 2018 and December 31, 2017, respectively

Additional Paid-In Capital

 

 

216,839,872

 

 

 

181,357,715

 

Accumulated Deficit

 

 

(127,008,525 )

 

 

(105,548,602 )

 

 

 

 

 

 

 

 

 

Total Terra Tech Corp. Stockholders’ Equity

 

 

89,902,200

 

 

 

75,870,932

 

Non-Controlling Interest

 

 

1,109,037

 

 

 

931,359

 

 

 

 

 

 

 

 

 

 

Total Stockholders’ Equity 

 

 

91,011,237

 

 

 

76,802,291

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY 

 

$ 109,791,013

 

 

$ 98,187,799

 

 

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

 

 
3
 
Table of Contents

 

TERRA TECH CORP. AND SUBSIDIARIES 

CONSOLIDATED STATEMENTS OF OPERATIONS 

(UNAUDITED)

 

 

 

 

 

 

 

 

 

 

 

Three Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Revenues

 

$ 8,718,177

 

 

$ 7,842,873

 

 

$ 17,333,543

 

 

$ 14,667,329

 

Cost of Goods Sold

 

 

6,509,754

 

 

 

6,336,500

 

 

 

13,477,680

 

 

 

12,801,893

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

2,208,423

 

 

 

1,506,373

 

 

 

3,855,863

 

 

 

1,865,436

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative Expenses

 

 

8,002,370

 

 

 

6,029,287

 

 

 

16,424,918

 

 

 

12,415,587

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from Operations

 

 

(5,793,947 )

 

 

(4,522,914 )

 

 

(12,569,055 )

 

 

(10,550,151 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Debt Discount

 

 

(417,363 )

 

 

(515,654 )

 

 

(885,680 )

 

 

(1,126,270 )

Loss on Extinguishment of Debt

 

 

(3,127,477 )

 

 

(1,639,137 )

 

 

(7,858,723 )

 

 

(2,678,595 )

Gain (Loss) on Fair Market Valuation of Derivatives

 

 

(1,653,000 )

 

 

987,200

 

 

 

628,000

 

 

 

2,597,950

 

Interest Expense, Net

 

 

(331,379 )

 

 

(130,510 )

 

 

(591,000 )

 

 

(288,343 )

Loss on Fair Market Valuation of Contingent Consideration

 

 

-

 

 

 

(77,286 )

 

 

-

 

 

 

(4,426,047 )

Gain on Settlement of Contingent Consideration

 

 

-

 

 

 

4,991,571

 

 

 

-

 

 

 

4,991,571

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Income (Expense)

 

 

(5,529,219 )

 

 

3,616,184

 

 

 

(8,707,403 )

 

 

(929,734 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

 

(11,323,166 )

 

 

(906,730 )

 

 

(21,276,458 )

 

 

(11,479,885 )
Net Income (Loss) Attributable to Non-Controlling Interest

 

 

104,837

 

 

 

(452,961 )

 

 

183,465

 

 

 

(914,128 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

NET LOSS ATTRIBUTABLE TO TERRA TECH CORP.

 

$ (11,428,003 )

 

$ (453,769 )

 

$ (21,459,923 )

 

$ (10,565,757 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss Per Common Share Attributable to Terra Tech Corp. Common Stockholders – Basic and Diluted

 

$ (0.17 )

 

$ (0.01 )

 

$ (0.32 )

 

$ (0.28 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Weighted-Average Number of Common Shares Outstanding – Basic and Diluted

 

 

68,734,997

 

 

 

38,873,092

 

 

 

66,734,450

 

 

 

38,349,946

 

 

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

 

 
4
 
Table of Contents

 

TERRA TECH CORP. AND SUBSIDIARIES

CONSOLIDATED STATEMENTS OF CASH FLOWS

(UNAUDITED)

 

 

 

 

 

 

 

 

 

Six Months Ended

 

 

 

June 30,

 

 

 

2018

 

 

2017

 

CASH FLOWS FROM OPERATING ACTIVITIES:

 

 

 

 

 

 

    Net Loss

 

$ (21,276,458 )

 

$ (11,479,885 )

    Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:

 

 

 

 

 

 

 

 

        Gain on Fair Market Valuation of Derivatives

 

 

(628,000 )

 

 

(2,597,950 )

        Loss on Fair Market Valuation of Contingent Consideration

 

 

-

 

 

 

4,426,047

 

        Cancellation of shares issued

 

 

(117,831 )

 

 

-

 

        Gain on Settlement of Contingent Consideration

 

 

-

 

 

 

(4,991,571 )

        Loss on Extinguishment of Debt

 

 

7,858,723

 

 

 

2,678,595

 

        Amortization of Debt Discount

 

 

885,680

 

 

 

1,126,270

 

        Interest Income Accreted

 

 

(136,877 )

 

 

-

 

        Depreciation and Amortization

 

 

2,147,499

 

 

 

1,778,782

 

        Warrants Issued with Common Stock and Debt

 

 

-

 

 

 

211,534

 

        Stock Issued for Compensation

 

 

552,992

 

 

 

1,356,138

 

        Stock Issued for Director Fees

 

 

-

 

 

 

221,973

 

        Stock Issued for Services

 

 

123,727

 

 

 

591,359

 

        Stock Option Compensation

 

 

954,698

 

 

 

205,019

 

        Changes in Operating Assets and Liabilities:

 

 

 

 

 

 

 

 

            Accounts Receivable

 

 

(250,748 )

 

 

(36,279 )

            Inventory

 

 

1,879,923

 

 

 

(1,323,742 )

            Prepaid Expenses and Other Current Assets

 

 

(572,072 )

 

 

(533,808 )

            Other Assets

 

 

(120,191 )

 

 

(166,925 )

            Accounts Payable and Accrued Expenses

 

 

(1,174,458 )

 

 

1,383,860

 

 

 

 

 

 

 

 

 

 

                  NET CASH USED IN OPERATING ACTIVITIES

 

 

(9,873,393 )

 

 

(7,150,583 )

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM INVESTING ACTIVITIES:

 

 

 

 

 

 

 

 

    Issuance of Note Receivable

 

 

(1,011,711 )

 

 

-

 

    Purchase of Property, Equipment and Leasehold Improvements

 

 

(7,447,564 )

 

 

(1,036,233 )

 

 

 

 

 

 

 

 

 

                  NET CASH USED IN INVESTING ACTIVITIES

 

 

(8,459,275 )

 

 

(1,036,233 )

 

 

 

 

 

 

 

 

 

CASH FLOWS FROM FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

    Proceeds from Issuance of Notes Payable

 

 

15,000,000

 

 

 

6,000,000

 

    Cash Paid for Debt Discount

 

 

(645,000 )

 

 

(180,000 )

    Proceeds from Issuance of Common Stock, Warrants and Common Stock Subscribed

 

 

3,650,000

 

 

 

3,750,000

 

    Payment of Contingent Consideration

 

 

-

 

 

 

(2,088,000 )

    Proceeds from Exercise of Warrants

 

 

76,000

 

 

 

-

 

    Cash (Distribution) Contribution from Non-Controlling Interest

 

 

(5,787 )

 

 

86,550

 

 

 

 

 

 

 

 

 

 

                 NET CASH PROVIDED BY FINANCING ACTIVITIES

 

 

18,075,213

 

 

 

7,568,550

 

 

 

 

 

 

 

 

 

 

NET CHANGE IN CASH

 

 

(257,455 )

 

 

(618,266 )

NET CHANGE IN CASH CLASSIFIED WITHIN CURRENT ASSETS HELD FOR SALE

 

 

(34,519 )

 

 

-

 

Cash at Beginning of Period

 

 

5,445,582

 

 

 

9,749,572

 

 

 

 

 

 

 

 

 

 

CASH AT END OF PERIOD

 

$ 5,153,608

 

 

$ 9,131,306

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:

 

 

 

 

 

 

 

 

Cash Paid for Interest

 

$ 428,334

 

 

$ -

 

 

 

 

 

 

 

 

 

 

SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:

 

 

 

 

 

 

 

 

Settlement of Contingent Consideration

 

$ -

 

 

$ 4,739,638

 

Purchase of Land and Building with a Mortgage

 

$ 6,500,000

 

 

$ -

 

Gain on Settlement of Contingent Consideration Recorded Against Additional
      Paid-In Capital

 

$ -

 

 

$ 4,692,697

 

Fair Value of Debt Discount and Derivative Liability Recorded

 

$ 8,760,000

 

 

$ 4,446,000

 

Issuance of Common Stock for Debt and Interest Expense

 

$ 29,926,761

 

 

$ 8,564,324

 

Claw back of Escrow Shares From The Tech Center Drive Asset Acquisition

 

$ 351,072

 

 

$ -

 

Issuance of Common Stock for Other Assets

 

$ 200,000

 

 

$ -

 

Fair Value of Warrants Issued for Debt Discount

 

$ 475,916

 

 

$ -

 

Deposits Applied to the Purchase of Property

 

$ 3,500,000

 

 

$ -

 

Assets Classified as Held for Sale

 

$ 904,352

 

 

$ -

 

 

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

 

 
5
 
Table of Contents

 

 TERRA TECH CORP. AND SUBSIDIARIES

NOTES TO UNAUDITED CONSOLIDATED FINANCIAL STATEMENTS

 

NOTE 1 – DESCRIPTION OF BUSINESS

 

Organization

 

References in this document to “the Company”, “Terra Tech”, “we”, “us”, or “our” are intended to mean Terra Tech Corp., individually, or as the context requires, collectively with its subsidiaries on a consolidated basis.

 

The Company is a vertically integrated retail, production and cultivation company, with an emphasis on providing the highest quality of medical and adult use cannabis products. The Company also holds an exclusive patent on an organic antioxidant rich Superleaf lettuce and sells living herbs that are grown using classic Dutch hydroponic farming methods.

 

The Company has a presence in three states (California, Nevada and New Jersey), and currently has cannabis operations in California and Nevada. All the Company’s cannabis dispensaries operate under the name Blüm. The Company’s cannabis dispensaries offer a broad selection of medical and adult use cannabis products including flowers, concentrates and edibles.

 

On March 12, 2018, the Company implemented a 1-for-15 reverse stock split of the Company’s common stock (the “Reverse Stock Split”). The Reverse Stock Split became effective in the stock market upon commencement of trading on March 13, 2018. As a result of the Reverse Stock Split, every fifteen shares of the Company’s Pre-Reverse Stock Split common stock were combined and reclassified into one share of the Company’s common stock. The number of shares of common stock subject to outstanding options, warrants and convertible securities were also reduced by a factor of fifteen as of March 13, 2018. All historical share and per share amounts reflected throughout unaudited consolidated financial statements have been adjusted to reflect the Reverse Stock Split. The authorized number of shares and the par value per share of the Company’s common stock were not affected by the Reverse Stock Split.

 

NOTE 2 – SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 

Basis of Presentation

 

The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Securities Exchange Commission (“SEC”) Form 10-Q and Article 10 of Regulation S-X of the Securities Act of 1933 and reflect the accounts and operations of the Company and those entities in which we have a controlling financial interest. In accordance with the provisions of FASB or ASC 810, “Consolidation”, we consolidate any variable interest entity (“VIE”), of which we are the primary beneficiary. The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting interests. ASC 810 requires a variable interest holder to consolidate a VIE if that party has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have determined that we are the primary beneficiary of certain VIEs. We evaluate our relationships with all the VIEs on an ongoing basis to reassess if we continue to be the primary beneficiary.

 
 
6
 
Table of Contents

 

All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited consolidated financial statements do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the unaudited consolidated financial position of the Company as of June 30, 2018, the unaudited consolidated results of operations for the three and six months ended June 30, 2018 and 2017, and the unaudited consolidated results of cash flows for the three and six months ended June 30, 2018 and 2017 have been included. These interim unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and, therefore, should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s most recent Annual Report on Form 10-K filed with the SEC. The December 31, 2017 balances reported herein are derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 16, 2018. The results for the interim periods are not necessarily indicative of results to be expected for the full year.

 

Non-Controlling Interest

 

Non-controlling interest is shown as a component of stockholders’ equity on the consolidated balance sheets and the share of net income (loss) attributable to non-controlling interest is shown as a component of net income (loss) in the consolidated statements of operations.

 

Use of Estimates

 

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of total net revenue and expenses in the reporting periods. The Company regularly evaluates estimates and assumptions related to revenue recognition, allowances for doubtful accounts, sales returns, inventory valuation, stock-based compensation expense, goodwill and purchased intangible asset valuations, derivative liabilities, deferred income tax asset valuation allowances, uncertain tax positions, tax contingencies, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenue, costs and expenses that are not readily apparent from other sources. The actual results the Company experiences may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. The Company continues to evaluate the impact of adult use legalization in California on its sales forecasts. Certain of the Company’s assets, such as goodwill, may be negatively impacted if the Company were to decrease its California sales forecasts.

 

Reclassifications

 

Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications did not affect net loss or stockholders’ equity.

 

Assets Held for Sale

 

Assets held for sale represent furniture, equipment, and leasehold improvements less accumulated depreciation as well as any other assets that are held for sale in conjunction with the sale of a business. The Company recorded assets held for sale in accordance with ASC 360, “Property, Plant, and Equipment,” at the lower of carrying value or fair value less cost to sell. Fair value is based on the estimated proceeds from the sale of the facility utilizing recent purchase offers, market comparables and/or data. Our estimate as to fair value is regularly reviewed and subject to changes in the commercial real estate markets and our continuing evaluation as to the facility’s acceptable sale price. The reclassification takes place when the assets are available for immediate sale and the sale is highly probable. These conditions are usually met as from the date on which a letter of intent or agreement to sell is ready for signing.

 

 
7
 
Table of Contents

 

Revenue Recognition

 

On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers” and all the related amendments, which are also codified into Accounting Standards Codification (ASC) 606. The Company elected to adopt this guidance using the modified retrospective method. The adoption of this standard did not have a material impact on the Company’s financial position or results of operations. The Company did not restate prior period information for the effects of the new standard, nor did the Company adjust the opening balance of its’ retained deficit to account for the implementation of the new requirements of this standard. The Company does not expect the adoption of this guidance to have a material effect on its’ results of operations in future periods.

 

Under the new standard, the Company recognizes a sale as follows:

 

Cannabis Dispensary, Cultivation and Production

 

The Company recognizes revenue from manufacturing and distribution product sales when our customers obtain control of our products. Revenue from our retail dispensaries is recorded at the time customers take possession of the product. Revenue from our retail dispensaries is recognized net of discounts, rebates, promotional adjustments, price adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Upon purchase, the Company has no further performance obligations and collection is assured as sales are paid for at time of purchase.

 

Revenue related to distribution customers is recorded when the customer is determined to have taken control of the product. That determination is based on the customer specific terms of the arrangement and gives consideration to factors including, but not limited to, whether the customer has an unconditional obligation to pay, whether a time period or event is specified in the arrangement and whether the Company can mandate the return or transfer of the products. Recorded revenue is net of any discounts, rebates, promotional adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority.

 

Herbs and Produce Products

 

The Company recognizes revenue from products grown in its greenhouses net of variable consideration such as estimated returns upon delivery of the product to the customer at which time control passes to the customer. Upon transfer of control, the Company has no further performance obligations.

 

For sales for which the Company uses an outside grower, the Company evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions. The evaluation considers whether the Company takes control of the products of the outside grower, whether it has the ability to direct the outside grower to provide the product to the customer on its behalf or whether it combines products from the outside grower with its own goods and services to provide the products to the customer.

 

In evaluating whether it takes control of the products of the outside grower, the Company considers whether it has primary responsibility for fulfilling the promise to provide the products, whether the Company is subject to inventory risk related to the products and whether it has the ability to set the selling prices for the products.

 
 
8
 
Table of Contents

 

Fair Value of Financial Instruments

 

The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

 

Level 1 – Quoted prices in active markets for identical assets or liabilities.

 

Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.

 

In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has elected the fair value option to measure any eligible financial instruments.

 

Derivative Financial Instruments

 

ASC 815-40, “Derivatives and Hedging”, requires freestanding contracts that are settled in a company’s own stock, including common stock warrants, to be designated as an equity instrument, asset or a liability. Under the provisions of ASC 815-40, a contract designated as an asset or a liability must be carried at fair value on a company’s balance sheet, with any changes in fair value recorded in the company’s results of operations. A contract designated as an equity instrument must be included within equity, and no fair value adjustments are required from period to period.

 

ASC 815, “Derivatives and Hedging”, requires all derivatives to be recorded on the balance sheet at fair value. Furthermore, ASC 815 precludes contracts issued or held by a reporting entity that are both (1) indexed to its own stock and (2) classified as stockholders’ equity in its statement of financial position from being treated as derivative instruments.

 

The Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (“MCS”) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.

 
 
9
 
Table of Contents

 

Recently Issued Accounting Standards

 

FASB ASU No. 2018-07 (Topic 718), “Compensation—Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting”Issued in June 2018, ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosure.

 

FASB ASU 2017-04 (Topic 350), “Intangibles - Goodwill and Others” – Issued in January 2017, ASU 2017-04 simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 including interim periods within those periods. The Company is currently evaluating the effect that ASU 2017-04 will have on our consolidated financial statements and related disclosures.

 

FASB ASU No. 2016-02 (Topic 842), “Leases” – Issued in February 2016, ASU No. 2016-02 will require entities to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases, including operating leases, with terms of more than 12 months. The new standard also requires additional disclosures on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosures.

 

NOTE 3 – CONCENTRATIONS OF BUSINESS AND CREDIT RISK

 

California Licensed Vendors Requirement

 

The Company sources cannabis products for retail, cultivation and production from various vendors. However, as a result of the new regulations in the State of California, the Company’s California retail, cultivation and production operations must use vendors licensed by the State effective January 1, 2018. As a result, the Company will be dependent upon the licensed vendors in California to supply products as of that date. If the Company is unable to enter into a relationship with sufficient members of properly licensed vendors, the Company's sales may be impacted. During the three and six months ended June 30, 2018 and 2017, we did not have any concentration of vendors for inventory purchases. However, this may change depending on the number of vendors who receive appropriate licenses to operate in the State of California.

 

California Phase-In of Laboratory Testing Requirements

 

The Bureau of Cannabis Control (“BCC”) is the lead agency in developing regulations for medical and adult-use cannabis in California. The BCC is responsible for licensing retailers, distributors, testing labs and microbusinesses. Prior to July 1, 2018, the BCC allowed for a “transition period” in which they allowed exceptions from specific regulatory provisions. However, beginning July 1, 2018, cannabis goods must meet all statutory and regulatory requirements. A licensee can only sell cannabis goods that have been tested by a licensed testing laboratory and have passed all statutory and regulatory testing requirements. In order to be sold, cannabis goods harvested or manufactured prior to January 1, 2018, must be tested by a licensed testing laboratory and must comply with all testing requirements in section 5715 of the BCC’s regulations. Cannabis goods that do not meet all statutory and regulatory requirements must be destroyed in accordance with the rules pertaining to destruction.

 

 
10
 
Table of Contents

 

The laboratory testing requirements are being phased-in three tiers. Tiers 1, 2 and 3 have compliance deadlines of January 1, 2018, July 1, 2018 and December 31, 2018, respectively. With each phased-in tier there are specific laboratory testing requirements for different types of cannabis products as outlined below:

 

 

Phase-In of Required Laboratory Testing

Inhalable Cannabis

 

Inhalable Cannabis Products

 

Other Cannabis & Cannabis Products

Tier 1

January 1, 2018

 

 

 

 

 

 

 

 

 

 

 

 

  Cannabinoids Testing

x

 

x

 

x

  Moisture Content Testing

x

 

 

 

 

  Category II Residual Solvents and Processing Chemicals Testing

 

 

x

 

x

  Category I Residual Pesticides Testing

x

 

x

 

x

  Microbial Impurities Testing (A. fumigatus, A. flavus, A. niger, A. terreus)

x

 

x

 

 

  Microbial Impurities Testing (Escherichia coli and Salmonella spp.)

x

 

x

 

x

  Homogeneity Testing of Edible Cannabis Products

 

 

 

 

x

   

 

 

 

 

 

Tier 2

July 1, 2018

 

 

 

 

 

 

 

 

 

 

 

 

  Category I Residual Solvents and Processing Chemicals Testing

 

 

x

 

x

  Category II Residual Pesticides Testing

x

 

x

 

x

  Foreign Material Testing

x

 

x

 

x

   

 

 

 

 

 

Tier 3

December 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

  Terpenoids Testing

x

 

x

 

x

  Mycotoxins Testing

x

 

x

 

x

  Heavy Metals Testing

x

 

x

 

x

  Water Activity Testing of Solid or Semi-Solid Edibles

x

 

 

 

x

   

 

 

 

 

 

  

On June 8, 2018 the BCC issued new guidance regarding the completion of the transition period from an unregulated to regulated state market.  This guidance was provided to issue direction on how licensees should treat inventory from 2017 and 2018, which was not completely compliant with the BCC regulations that commenced on January 1, 2018. One of these components was that, in addition to tier 1 testing, all products must meet tier 2 testing by July 1, 2018 and tier 3 testing by December 31, 2018.  While testing has not been a barrier to product availability for the Company, it is possible that as the market transitions from tier 2 to tier 3 testing, that products meeting all three tier testing requirements will be limited in nature.  Through industry discussions, the Company believes that cultivators and manufacturers are aware of the new requirements and are taking great measures to meet these requirements.  Considering that other states have similar testing requirements, the Company does not expect that these new testing standards will be an actual barrier to product availability. However, the limited number of testing labs licensed by the state to perform all required tier testing may cause a backlog or delay in testing results, which could have an impact on product availability.

 
 
11
 
Table of Contents

 

NOTE 4 – ASSETS HELD FOR SALE

 

As of June 30, 2018, there was one asset group in the Cannabis Dispensary, Cultivation and Production segment that met the criteria to be recorded as held for sale under ASC 360: (1) Management, having the authority to approve the action, committed to a plan to sell the asset, (2) The asset group was available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets, (3) An active program to locate a buyer and other actions required to complete the plan to sell the asset group have been initiated, (4) The sale of the asset group was probable, and transfer of the asset group was expected to qualify for recognition as a completed sale, within one year, (5) The asset group was being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (6) Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The assets related to this asset group has been classified as held for sale on the Consolidated Balance Sheets. On July 6, 2018, MediFarm LLC, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Exhale Brands Nevada III, LLC (the “Purchaser”) pursuant to which the Company agreed to sell and the Purchaser agreed to purchase substantially all of the assets of the Company related to the Company’s dispensary located at 1921 Western Ave., Las Vegas, NV 89102 (the “Business”). The aggregate consideration to be paid for the Business is $6,250,000 in cash plus the value of any inventory of the Business on the closing date. The transaction is subject to approval by the Nevada Department of Taxation and is expected to close promptly following receipt of such approval. There is no material relationship between the Company or its affiliates and the Purchaser other than in respect of the transactions contemplated by the Purchase Agreement. The Purchase Agreement contains customary conditions, representations, warranties, indemnities and covenants by, among, and for the benefit of the parties.

 

The components of assets held for sale are as follows:

 

 

 

June 30, 2018

 

 

 

 

 

 

Cash

 

$ 34,519

 

Inventory

 

 

199,323

 

Prepaid Expenses and Other Assets 

 

 

41,700

 

Other Assets

 

 

775

 

Property, Equipment and Leasehold Improvements, Net

 

 

628,035

 

 

 

 

 

 

Assets Held for Sale

 

$ 904,352

 

 
 
12
 
Table of Contents

 

NOTE 5 – VARIABLE INTEREST ENTITY ARRANGEMENTS

 

The Company has a shared interest in two entities, MediFarm I and MediFarm I RE, with another investor for the operation of a cultivation operation and dispensary in Nevada. The entities are considered to be VIE’s and the Company is considered to be the primary beneficiary by reference to the power and benefits criterion under ASC 810, “Consolidation.” The Company has reviewed the provisions within the operating agreements and other factors which would grant the Company the power to manage and make decisions that affect the operation of these VIEs.

 

As the primary beneficiary of MediFarm I and MediFarm I RE, the Company consolidates the accounts and operations of these entities. All intercompany transactions are eliminated in the unaudited consolidated financial statements.

 

The aggregate carrying values of MediFarm I and MediFarm I RE assets and liabilities, after elimination of any intercompany transactions and balances, in the consolidated balance sheets were as follows (in thousands):

 

 

 

June 30,

 

 

December 31, 

 

 

 

2018

 

 

2017

 

Current Assets:

 

 

 

 

 

 

Cash

 

$ 251,508

 

 

$ 409,029

 

Accounts Receivable, Net

 

 

224,259

 

 

 

-

 

Inventory

 

 

582,657

 

 

 

232,231

 

Prepaid Expenses and Other Current Assets

 

 

94,889

 

 

 

302,186

 

Total Current Assets

 

 

1,153,313

 

 

 

943,446

 

Property, Equipment and Leasehold Improvements, Net

 

 

1,890,709

 

 

 

1,965,103

 

 

 

 

 

 

 

 

 

 

TOTAL ASSETS 

 

$ 3,044,022

 

 

$ 2,908,549

 

 

 

 

 

 

 

 

 

 

Current Liabilities:

 

 

 

 

 

 

 

 

Accounts Payable and Accrued Expenses

 

$ 269,843

 

 

$ 319,853

 

 

 

 

 

 

 

 

 

 

TOTAL LIABILITIES

 

$ 269,843

 

 

$ 319,853

 

 

NOTE 6 – NOTES RECEIVABLE

 

On October 26, 2017, the Company entered into agreements with NuLeaf Sparks Cultivation, LLC and NuLeaf Reno Production, LLC (collectively, “NuLeaf”) to build and operate cultivation and production facilities for our IVXX brand of cannabis products in Nevada. The agreements are subject to approval by the State of Nevada, the City of Sparks and the City of Reno in Nevada. As part of the agreements, the Company made convertible loans at the time of the agreement of $4.5 million in aggregate to the NuLeaf entities bearing an interest rate of 6% per annum. In April 2018, the Company amended the note receivable with NuLeaf to extend the maturity date to August 1, 2018. Upon approval the loans will automatically convert into a 50% ownership in the NuLeaf entities. On June 28, 2018 the Company received approval from the State of Nevada. The remaining required approvals from local authorities were received in July 2018. As a result, the notes receivable balance at June 30, 2018 was converted into a 50% ownership interest in NuLeaf in July 2018. See “Note 17 – Subsequent Events” for additional disclosure regarding changes in notes receivable subsequent to June 30, 2018.

 
 
13
 
Table of Contents

 

NOTE 7 – PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

 

Property, equipment, and leasehold improvements, net consists of the following:

 

 

 

June 30,

 

 

December 31, 

 

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

Land and Building

 

$ 19,662,334

 

 

$ 9,047,201

 

Furniture and Equipment

 

 

3,715,118

 

 

 

3,553,587

 

Computer Hardware and Software

 

 

492,801

 

 

 

486,176

 

Leasehold Improvements

 

 

8,417,236

 

 

 

9,316,665

 

Construction in Progress

 

 

7,594,184

 

 

 

1,204,547

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

39,881,673

 

 

 

23,608,176

 

Less Accumulated Depreciation

 

 

(4,941,265 )

 

 

(4,416,560 )

 

 

 

 

 

 

 

 

 

Property, Equipment and Leasehold Improvements, Net 

 

$ 34,940,408

 

 

$ 19,191,616

 

 

Depreciation expense related to property, equipment and leasehold improvements for the three months ended June 30, 2018 and 2017 was $540,167 and $456,659, respectively, and for the six months ended June 30, 2018 and 2017 was $1,070,737 and $919,732, respectively.

 

NOTE 8 – NOTES PAYABLE

 

Notes payable consists of the following: 

 

 

 

June 30,

 

 

December 31, 

 

 

 

2018

 

 

2017

 

Senior convertible promissory note dated August 21, 2017, issued to accredited investors, which matures February 21, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment. The balance of the note and accrued interest was converted into common stock in January 2018.

 

$ -

 

 

$ 640,010

 

Senior convertible promissory note dated December 26, 2017, issued to accredited investors, which matures June 26, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment.  The balance of the note and accrued interest was converted into common stock in January 2018.

 

 

-

 

 

 

1,469,388

 

Promissory note dated November 22, 2017, issued for the purchase of real property.  Matures December 1, 2020, with an option to extend the maturity date 1 year.  The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5%.

 

 

4,500,000

 

 

 

4,500,000

 

Promissory note dated January 18, 2018, issued for the purchase of real property.  The promissory note is collateralized by the land and building purchased and matures February 1, 2021, with an option to extend the maturity date 1 year.  The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.0%.  The full principle balance and accrued interest are due at maturity.

 

 

6,189,144

 

 

 

-

 

Senior convertible promissory note dated June 7, 2018, issued to accredited investors under the 2018 Master Securities Purchase and Convertible Promissory Notes Agreement, which matures December 7, 2019 and bears interest at a rate of 7.5% per annum. The conversion price is $4.50, subject to adjustment. 

 

 

2,122,259

 

 

 

-

 

 

 

 

 

 

 

 

 

 

Long-Term Debt, Net of Discounts

 

$ 12,811,403

 

 

$ 6,609,398

 

 
 
14
 
Table of Contents

 

Total debt as of June 30, 2018 and December 31, 2017 was $12,811,403 and $6,609,398, respectively, net of unamortized debt discount of $2,188,597 and $4,790,601, respectively. The senior convertible promissory notes are secured by shares of common stock. There was accrued interest payable of $16,250 and $21,767 as of June 30, 2018 and December 31, 2017, respectively. See “Note 17 – Subsequent Events” for additional disclosure regarding changes in notes payable subsequent to June 30, 2018.

 

Scheduled Maturities of Long-Term Debt

 

Scheduled maturities of long-term debt, including the unamortized debt discounts of $2,188,597, are as follows:

 

 

 

 

 

Year Ending December 31,

 

 

 

Six Months Ending

December 2018

 

 

2019

 

 

2020

 

 

2021

 

 

2022

 

 

2023
and thereafter

 

 

Total

 

Total Debt

 

$ -

 

 

$ 2,122,259

 

 

$ 4,500,000

 

 

$ 6,189,144

 

 

$ -

 

 

$ -

 

 

$ 12,811,403

 

 

Promissory Notes

 

On January 18, 2018, the Company entered into a $6,500,000 promissory note for the purchase of land and a building in California with a third-party creditor. As part of the closing of the purchase of land, the Company issued warrants with a value of approximately $164,000 and paid a cash fee of $195,000. The unamortized balance as of June 30, 2018 was $310,857. The warrants and cash fee were recorded as a debt discount. The interest rate for the first year is 12.0% and increases 0.5% per year, up to 13.0%, through 2021. Payments of interest only are due monthly. The full principle balance and accrued interest are due at maturity.

 

2018 Master Securities Purchase and Convertible Promissory Notes Agreement

 

In March 2018, the Company entered into the 2018 Master Securities Purchase Agreement with an accredited investor pursuant to which the Company sells to the accredited investor 7.5% Senior Convertible Promissory Notes in eight traunches of $5,000,000, for a total of $40,000,000.

 

For each note issued under the 2018 Master Securities Purchase Agreement, the principal and interest due and owed under the note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) the original conversion price as defined in each note issuance or (ii) 87% of the average of the two lowest daily volume weighted average price of the Common Stock in the thirteen (13) trading days prior to the conversion date (“Conversion Price”), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. Upon certain events of default, the conversion price will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect.

 

In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $10.50 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) day’s notice, that the holder convert the notes at the Conversion Price.

 
 
15
 
Table of Contents

 

The Company may prepay in cash any portion of the outstanding principal amount of the notes and any accrued and unpaid interest by, upon ten (10) days’ written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the notes; (ii) 115% of the sum of the then-outstanding principal amount plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of the notes; or (iii) 125% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the notes.

 

During the period ended March 31, 2018, the Company issued a 7.5% convertible note for an aggregate value of $5,000,000. In April 2018, the note was converted into shares of the Company’s common stock. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash and issued approximately $116,000 of warrants in connection with the notes. The cash fee and warrants were recorded as a debt discount and fully amortized upon conversion of the note into shares of the Company’s common stock.

 

In June 2018, the Company issued a 7.5% convertible note for an aggregate value of $5,000,000. During June 2018, $1,000,000 plus interest was converted into 438,870 shares of the Company’s common stock. As of June 30, 2018, $4,000,000 principal, gross of the unamortized debt discount of $1,877,741 remains due. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash in connection with the notes. The cash fee was recorded as a debt discount.

 

2017 Master Securities Purchase and Convertible Promissory Notes Agreement

 

The Company has a Securities Purchase Agreement with an accredited investor pursuant to which the Company sells to the accredited investor Senior Convertible Promissory Notes. During the year ended December 31, 2017, the Company issued five 12% convertible notes for an aggregate value of $20,000,000 due at various dates through June 2019. Of the $20,000,000 convertible notes issued during 2017, the Company converted $13,100,000 of the convertible notes into shares of the Company’s common stock during the year ended December 31, 2017. As of December 31, 2017, $6,900,000 principal, gross of the unamortized debt discount of $4,790,602 remained due. The convertible notes outstanding as of December 31, 2017 were all converted in January 2018. In January 2018, the Company issued a 12% convertible note for an aggregate value of $5,000,000. Of the $5,000,000 convertible note issued in January, the Company converted all of the convertible note during the six months period ended June 2018. As of June 30, 2018, the related unamortized debt discount was completely amortized. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash and issued approximately $196,000 of warrants in connection with the notes. The cash fee and warrants issued were recorded as a debt discount.

 

Conversion of Notes Payable and Related Loss on Extinguishment of Debt 

 

During the three and six months ended June 30, 2018 and 2017, the Company converted debt and accrued interest into shares of the Company’s common stock, respectively. The table below details the conversion of the notes payable into equity, the loss on extinguishment of debt and value of the Company’s common stock issued in conversion of debt for the three and six months ended June 30, 2018 and 2017:

 

 

 

Three Months Ended June 30,

 

 

Six Months Ended June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

Fair market value of common stock issued upon conversion 

 

$ 12,745,924

 

 

$ 6,717,694

 

 

$ 29,926,761

 

 

$ 11,732,355

 

Principal amount of debt converted 

 

 

(8,500,000 )

 

 

(5,005,000 )

 

 

(17,900,000 )

 

 

(8,564,324 )
Accrued interest converted 

 

 

(108,667 )

 

 

(145,121 )

 

 

(193,279 )

 

 

(274,760 )
Fair value of derivative at conversion date 

 

 

(6,141,000 )

 

 

(2,901,400 )

 

 

(15,572,000 )

 

 

(5,672,050 )
Debt discount value at conversion date 

 

 

5,131,220

 

 

 

2,972,964

 

 

 

11,597,241

 

 

 

5,457,374

 

Loss on extinguishment of debt 

 

$ 3,127,477

 

 

$ 1,639,137

 

 

$ 7,858,723

 

 

$ 2,678,595

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Common Stock Issued Upon Conversion

 

 

4,170,219

 

 

 

2,295,292

 

 

 

7,303,244

 

 

 

4,100,698

 

 
 
16
 
Table of Contents

 

NOTE 9 – FAIR VALUE MEASUREMENTS

 

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

 

The following tables set forth the financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the dates indicated:

 

 

 

Fair Value at

June 30,

 

 

Fair Value Measurement Using 

 

Description 

 

2018

 

 

Level 1 

 

 

Level 2 

 

 

Level 3 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Liabilities – Conversion Feature

 

$ 1,891,400

 

 

$ -

 

 

$ -

 

 

$ 1,891,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$ 1,891,400

 

 

$ -

 

 

$ -

 

 

$ 1,891,400

 

 

 

 

 

 

 

 

 

Fair Value at December 31, 

 

 

Fair Value Measurement Using 

Description 

 

2017

 

 

Level 1 

 

 

Level 2 

 

 

Level 3 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Derivative Liabilities – Conversion Feature

 

$ 9,331,400

 

 

$ -

 

 

$ -

 

 

$ 9,331,400

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$ 9,331,400

 

 

$ -

 

 

$ -

 

 

$ 9,331,400

 

 

The following table presents a reconciliation of the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

 

Balance at December 31, 2017 

 

$ 9,331,400

 

 

 

 

 

 

Change in Fair Market Value of Conversion Feature

 

 

(628,000 )

Derivative Debt Converted into Equity

 

 

(15,572,000 )

Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt

 

 

8,760,000

 

 

 

 

 

 

Balance at June 30, 2018

 

$ 1,891,400

 

 

 
17
 
Table of Contents

 

Effective as of June 2018, the Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (“MCS”) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.

 

Significant inputs into the Monte Carlo Simulation used to calculate the derivative values are as follows:

 

 

 

June 2018

 

Stock Price

 

$2.16 - $2.88

 

Conversion and Exercise Price

 

$1.92 - $2.29

 

Annual Dividend Yield

 

 

0%

 

Expected Life (Years)

 

1.44 - 1.50

 

Risk-Free Interest Rate

 

2.41% - 2.47%

 

Expected Volatility

 

94.50% - 95.00%

 

 

For derivative liabilities issued prior to June 2018, the Company estimates the fair value of the derivative liabilities using the Black-Scholes-Merton option pricing model using the following assumptions for issuances during the period ended:

 
Stock Price

 

$2.16 - $6.90

 

Conversion and Exercise Price

 

$1.92 - $6.60

 

Annual Dividend Yield

 

 

0%

Expected Life (Years)

 

0.66 - 2.42

 

Risk-Free Interest Rate

 

1.77% - 2.52%

 

Expected Volatility

 

62.36% - 103.43%

 

 

Volatility is based on historical volatility of our common stock. Historical volatility was computed using weekly pricing observations for our common stock that correspond to the expected term. This method produces an estimate that is representative of our expectations of future volatility over the expected term of these warrants and conversion features.

 
 
18
 
Table of Contents

 

No financial assets were measured on a recurring basis as of June 30, 2018 and December 31, 2017.

 

Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis

 

Non-financial assets, such as property, equipment and leasehold improvements, goodwill, and intangible assets, are required to be measured at fair value only when an impairment loss is recognized.

 

NOTE 10 – TAX EXPENSE

 

For the three and six months ended June 30, 2018 and 2017, the Company had no income tax expense (benefit).

 

The components of deferred income tax assets and (liabilities) are as follows:

 

 

 

June 30,

 

 

December 31,

 

 

 

2018

 

 

2017

 

Deferred Income Tax Assets:

 

 

 

 

 

 

Net Operating Losses

 

$ 10,426,088

 

 

$ 8,023,000

 

 

 

 

 

 

 

 

 

 

 

 

 

10,426,088

 

 

 

8,023,000

 

Deferred Income Tax Liabilities:

 

 

 

 

 

 

 

 

Depreciation

 

 

(926,286 )

 

 

(850,000 )

 

 

 

 

 

 

 

 

 

Total

 

 

9,499,802

 

 

 

7,173,000

 

Valuation Allowance

 

 

(9,499,802 )

 

 

(7,173,000 )

 

 

 

 

 

 

 

 

 

Net Deferred Tax 

 

$ -

 

 

$ -

 

 

In December 2017 the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code that affects revaluation of deferred tax assets and liabilities to reflect the federal tax rate reduction from 35.0% to 21.0%.

 

For the three and six months ended June 30, 2018 and 2017, the Company had subsidiaries that produced and sold cannabis or cannabis pure concentrates, subjecting the Company to the limits of Internal Revenue Code (“IRC”) Section 280E. Pursuant to IRC Section 280E, the Company is allowed only to deduct expenses directly related to sales of product. The State of California does not conform to IRC Section 280E and, accordingly the Company is allowed to deduct all operating expenses on its California income tax returns. As the Company files consolidated federal income tax returns, the taxable income generated from its subsidiaries subject to IRC Section 280E has been offset by losses generated by operations not subject to IRC Section 280E. During 2017, Company amended income tax returns of our subsidiary Black Oak Gallery, a California Corporation (“Black Oak”) for the periods prior to acquisition, which resulted in a net tax refund in 2017.

 

Permanent tax differences include ordinary and necessary business expenses deemed by the Company as non-allowable deductions under IRC Section 280E; non-deductible expenses for interest, derivatives and warrant expense related to debt financings and non-deductible losses related to various acquisitions.

 
 
19
 
Table of Contents

 

As of June 30, 2018 and December 31, 2017, the Company had net operating loss carryforwards of approximately $33,822,483 and $26,333,000, respectively, which, if unused, will expire beginning in the year 2034. These tax attributes are subject to an annual limitation from equity shifts, which constitute a change of ownership as defined under IRC Section 382, which will limit their utilization. The Company has assessed the effect of these limitations and does not believe these losses to be substantially limited. The Company also has deferred tax liabilities from the excess carrying amounts of the basis of depreciable assets for financial reporting purposes.

 

Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative losses incurred in 2017 and through the six months period ended June 30, 2018. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. On the basis of this evaluation, as of June 30, 2018, a valuation allowance of $9,499,802 has been recorded against all net deferred tax assets as these assets are more likely than not to be unrealized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as our projections for growth.

 

The Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. All tax years from 2014 to 2017 are subject to examination.

 

NOTE 11 – EQUITY

 

Common Stock

 

During the six months ended June 30, 2018, senior secured convertible promissory notes and accrued interest in the amount of $29,926,761 were converted into 7,303,244 shares of common stock.

 

During the six months ended June 30, 2018, the Company sold 1,314,147 shares of common stock for the net amount of $3,650,000 pursuant to an equity financing facility with an accredited investor.

 

During the six months ended June 30, 2018, the Company cancelled 24,510 shares of common stock valued at $117,831, issued 44,282 shares of common stock for services performed in the amount of $123,727 and issued 173,394 shares of common stock for compensation in the amount of $552,992.

 

During the six months ended June 30, 2018, the Company issued 224,925 shares of common stock for cashless and cash exercises of warrants. The cash received from the cash exercise of warrants was $76,000.

 

During the six months ended June 30, 2018, the Company purchased an asset worth $300,000. $100,000 was paid in cash during March 2018, the remaining $200,000 was paid by issuing 53,332 shares of the Company’s common stock. 

 

During the six months ended June 30, 2018, as part of the stock split in March 2018, the Company issued 46,687 shares of common stock to round up fractional shares to all shareholders of the Company.

 

During the six months ended June 30, 2018, as part of the acquisition of Tech Center Drive in September 2017, the Company issued shares held in escrow which were to be paid six months after the acquisition date subject to any amounts to be withheld related to working capital type adjustments. As a result of the working capital adjustments, in March 2018, approximately $351,000 on the six-month anniversary date, the Company withheld and cancelled 101,083 shares.

 
 
20
 
Table of Contents

 

NOTE 12 – STOCK-BASED COMPENSATION

 

2016 Equity Incentive Plan

 

In the first quarter of 2016, the Company adopted the 2016 Equity Incentive Plan. The following table contains information about the 2016 Equity Incentive Plan as of June 30, 2018:

 

 

 

Awards Reserved for Issuance

 

 

Awards Issued

 

 

Awards Available for Grant

 

2016 Equity Incentive Plan

 

 

30,000,000

 

 

 

2,044,399

 

 

 

27,955,601

 

 

Stock Options

 

The following table summarizes the Company’s stock option activity and related information for the three and six months ended June 30, 2018:

 

 

 

Number of Shares 

 

 

Weighted-Average Exercise Price Per Share 

 

 

Weighted-Average Remaining Contractual Life 

 

Aggregate Intrinsic Value of In-the-Money Options 

 

Options Outstanding as of Janury 1, 2018

 

 

1,177,732

 

 

$ 2.17

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Granted

 

 

800,000

 

 

$ 4.41

 

 

 

 

 

 

Options Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

Options Forfeited

 

 

-

 

 

 

-

 

 

 

 

 

 

Options Expired

 

 

-

 

 

 

-

 

 

 

 

 

 

Options Outstanding as of March 31, 2018

 

 

1,977,732

 

 

$ 3.08

 

 

 9.1 Years 

 

$ 522,600

 

Options Exercisable as of Mach 31, 2018

 

 

659,774

 

 

$ 2.20

 

 

 8.5 Years 

 

$ 391,950

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Options Granted

 

 

66,667

 

 

$ 3.75

 

 

 

 

 

 

 

Options Exercised

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Options Forfeited

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Options Expired

 

 

-

 

 

 

-

 

 

 

 

 

 

 

Options Outstanding as of June 30, 2018

 

 

2,044,399

 

 

$ 3.10

 

 

 8.89 Years 

 

$ 361,800

 

Options Exercisable as of June 30, 2018

 

 

828,941

 

 

$ 2.38

 

 

 8.42 Years 

 

$ 301,500

 

 

 
21
 
Table of Contents

  

The aggregate intrinsic value is calculated as the difference between the Company’s closing stock price of $2.16 on June 30, 2018 and the exercise price of options, multiplied by the number of options. As of June 30, 2018, there was $3,984,837 total unrecognized stock-based compensation. Such costs are expected to be recognized over a weighted-average period of approximately 1.74 years.

 

The Company recognizes compensation expense for stock option awards on a straight-line basis over the applicable service period of the award. The service period is generally the vesting period. The following assumptions were used to calculate stock-based compensation for issuances during the six months ended June 30, 2018.

 

 

 

June 2018

 

Expected Term (years)

 

6.5 Years

 

Volatility

 

126.93-128.0%

 

Risk-Free Interest Rate

 

2.5-2.8%

 

Dividend Yield

 

 

0%

 

The Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. Hence, the Company uses the “simplified method” described in Staff Accounting Bulletin 107 to estimate the expected term of share option grants.

 

The expected stock price volatility assumption was determined by examining the historical volatilities for the Company’s common stock. The Company will continue to analyze the historical stock price volatility and expected term assumptions as more historical data for the Company’s common stock becomes available.

 

The risk-free interest rate assumption is based on the U.S. treasury instruments whose term was consistent with the expected term of the Company’s stock options.

 

The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. The Company has never paid dividends on its common stock and does not anticipate paying dividends on its common stock in the foreseeable future. Accordingly, the Company has assumed no dividend yield for purposes of estimating the fair value of the Company stock-based compensation.

 

The Company estimates the forfeiture rate at the time of grant and revisions, if necessary, were estimated based on management’s expectation through industry knowledge and historical data.

 

Stock-Based Compensation Expense

 

The following table sets forth the total stock-based compensation expense resulting from stock options and restricted grants of common stock to employees, directors and non-employee consultants in the consolidated statement of operations which are included in selling, general and administrative expenses:

 

 

 

For the Three Months Ended

 

 

 

June 30, 2018

 

 

June 30, 2017

 

Type of Award 

 

Number of Shares or Options Granted

 

 

Stock-Based Compensation Expense 

 

 

Number of Shares or Options Granted

 

 

Stock-Based Compensation Expense 

 

Stock Options

 

 

66,667

 

 

$ 480,500

 

 

 

550,000

 

 

$ 157,430

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Grants:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employees (Common Stock)

 

 

91,888

 

 

 

264,542

 

 

 

102,385

 

 

 

294,632

 

Employees (Series B Preferred Stock)

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Directors (Common Stock)

 

 

-

 

 

 

-

 

 

 

72,728

 

 

 

184,473

 

Non–Employee Consultants (Common Stock)

 

 

37,872

 

 

 

107,037

 

 

 

159,424

 

 

 

446,348

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Stock–Based Compensation Expense

 

 

 

 

 

$ 852,079

 

 

 

 

 

 

$ 1,082,883

 

 

 
22
 
Table of Contents

 

 

 

For the Six Months Ended

 

 

 

June 30, 2018

 

 

June 30, 2017

 

Type of Award 

 

Number of Shares or Options Granted

 

 

Stock-Based Compensation Expense 

 

 

Number of Shares or Options Granted

 

 

Stock-Based Compensation Expense 

 

Stock Options

 

 

866,667

 

 

$ 954,698

 

 

 

550,000

 

 

$ 205,019

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock Grants:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Employees (Common Stock)

 

 

173,394

 

 

 

552,992

 

 

 

109,052

 

 

 

320,732

 

Employees (Series B Preferred Stock)

 

 

-

 

 

 

-

 

 

 

40,000

 

 

 

1,035,406

 

Directors (Common Stock)

 

 

-

 

 

 

-

 

 

 

81,061

 

 

 

221,973

 

Non–Employee Consultants (Common Stock)

 

 

44,282

 

 

 

123,727

 

 

 

190,600

 

 

 

591,359

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Stock–Based Compensation Expense

 

 

 

 

 

$ 1,631,417

 

 

 

 

 

 

$ 2,374,489

 

 

NOTE 13 – WARRANTS

 

The Company has the following shares of common stock reserved for exercise of the warrants outstanding as of June 30, 2018:

 

 

 

Shares

 

 

Weighted-Average Exercise Price

 

Warrants Outstanding as of January 1, 2018

 

 

1,191,367

 

 

$ 2.85

 

Warrants Exercised

 

 

(283,697 )

 

$ 2.17

 

Warrants Granted

 

 

114,636

 

 

$ 4.05

 

Warrants Expired

 

 

-

 

 

$ -

 

Warrants Outstanding as of March 31, 2018

 

 

1,022,306

 

 

$ 3.80

 

 

 

 

 

 

 

 

 

 

Warrants Exercised

 

 

(27,800 )

 

$ 0.90

 

Warrants Granted

 

 

51,026

 

 

$ 2.94

 

Warrants Expired

 

 

(26,710 )

 

$ 3.09

 

Warrants Outstanding as of June 30, 2018

 

 

1,018,822

 

 

$ 3.25

 

 

 
23
 
Table of Contents

 

The following weighted-average assumptions were used to calculate the fair value of warrants issued during the period ended June 30, 2018 and 2017 using the Black Scholes option pricing model:

 

 

 

June 30,

 

 

 

June 30,

 

 

 

2018

 

 

 

2017

 

Stock Price on Date of Grant

 

$ 3.45

 

 

$ 4.94

 

Exercise Price

 

$ 3.71

 

 

$ 2.64

 

Volatility

 

 

118.90 %

 

 

133.54 %
Term

 

 

5.00 Yrs

 

 

5.00 Yrs
Risk-Free Interest Rate

 

 

2.50 %

 

 

1.53 %
Expected Dividend Rate

 

 

0 %

 

 

0 %

 

There were no warrants recognized as an expense for the three and six months period ended June 30, 2018. There were no warrants recognized as an expense for the three months period June 30, 2017. Warrant expense of $211,534 was recognized for the six months period June 30, 2017. Warrants of $475,916 for the six months ended June 30, 2018 were recorded for warrants issued in connection with debt and recorded as a debt discount.

 

Warrant expense was $104,499 and $211,534 for three and six months ended June 30, 2017, respectively. For the three and six months period ended June 30, 2017, there were no warrants issued in connection with debt and recorded as a debt discount.

 

NOTE 14 – COMMITMENTS AND CONTINGENCIES

 

California Operating Licenses

 

Effective January 1, 2018 the State of California allowed for adult use cannabis sales. California’s cannabis licensing system is being implemented in two phases. First, beginning on January 1, 2018, the State began issuing temporary licenses. Temporary licenses were initially issued for 90 days, but have since been extended twice by the state. Our current temporary licenses expire on October 28, 2018. The extensions were initially provided because in May the Company had submitted all the necessary documentation for an annual license to be issued. Prior to the state completing its review of any annual licenses, the licensing authority Bureau Cannabis Control (“BCC”) determined that they would eliminate the need to have multiple licenses issued to each entity for both medical and adult use. What this meant was that the State would allow for an entity to apply for a consolidated license which allowed the entities to sell both medical and recreational cannabis. The Company has since applied for single category licenses that allow our vertically integrated activities to conduct sales in both the medical and adult use categories. The decision by the regulating authority meant that the cost of the annual licenses would also be reduced as prior to this change we would have had to apply for two licenses one in each category and they each bore a multi-thousand dollar expense. The Company’s prior licenses obtained from the local jurisdictions in which it operated in have been continued by such jurisdictions and are necessary to obtain state licensing. The Company has received a temporary license for each local jurisdiction which it had active operations. The temporary permits may be extended for an additional period of time. The Company submitted its applications for the annual permits in April 2018. Although the Company believes it will receive the necessary licenses from the State to conduct its business in a timely fashion, there is no guarantee the Company will be able to do so and any failure to do so may have a negative effect on its business and results of operations.

 
 
24
 
Table of Contents

 

Although the possession, cultivation and distribution of cannabis for medical and adult use is permitted in California and Nevada, cannabis is a Schedule-I controlled substance and its use remains a violation of federal law. Since federal law criminalizing the use of cannabis preempts state laws that legalize its use, strict enforcement of federal law regarding cannabis would likely result in our inability to proceed with our business plan, especially in respect of our cannabis cultivation, production and dispensaries. In addition, our assets, including real property, cash, equipment and other goods, could be subject to asset forfeiture because cannabis is still federally illegal.

 

NOTE 15 – SEGMENT INFORMATION

 

The Company’s operating and reportable segments are currently organized around the following products that it offers as part of its core business strategy:

 

·

Herbs and Produce Products – Includes herbs and leafy greens that are grown using classic Dutch hydroponic farming methods.

·

Cannabis Dispensary, Cultivation and Production – Includes cannabis-focused retail, cultivation and production.

 

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. Total asset amounts at June 30, 2018 and 2017 exclude intercompany receivable balances eliminated in consolidation.

 

 

 

For the Three Months Ended June 30, 2018
(Unaudited)

 

 

 

Herbs and Produce Products 

 

 

Cannabis Dispensary, Cultivation and Production 

 

 

Eliminations and Other 

 

 

Total 

 

Total Revenues

 

$ 1,502,789

 

 

$ 7,203,971

 

 

$ 11,417

 

 

$ 8,718,177

 

Cost of Goods Sold

 

 

958,694

 

 

 

5,551,060

 

 

 

-

 

 

 

6,509,754

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

544,095

 

 

 

1,652,911

 

 

 

11,417

 

 

 

2,208,423

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative Expenses

 

 

994,906

 

 

 

2,823,524

 

 

 

4,183,940

 

 

 

8,002,370

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from Operations

 

 

(450,811 )

 

 

(1,170,613 )

 

 

(4,172,523 )

 

 

(5,793,947 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Debt Discount

 

 

-

 

 

 

-

 

 

 

(417,363 )

 

 

(417,363 )

Loss on Extinguishment of Debt

 

 

-

 

 

 

-

 

 

 

(3,127,477 )

 

 

(3,127,477 )

Loss on Fair Market Valuation of Derivatives

 

 

-

 

 

 

-

 

 

 

(1,653,000 )

 

 

(1,653,000 )

Interest Expense

 

 

-

 

 

 

-

 

 

 

(331,379 )

 

 

(331,379 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Income (Expense)

 

 

-

 

 

 

-

 

 

 

(5,529,219 )

 

 

(5,529,219 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

$ (450,811 )

 

$ (1,170,613 )

 

$ (9,701,742 )

 

$ (11,323,166 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets at June 30, 2018

 

$ 6,320,906

 

 

$ 71,591,669

 

 

$ 31,878,438

 

 

$ 109,791,013

 

  
 
25
 
Table of Contents

 

 

 

For the Three Months Ended June 30, 2017
(Unaudited)

 

 

 

Herbs and Produce Products 

 

 

Cannabis Dispensary, Cultivation and Production 

 

 

Eliminations and Other 

 

 

Total 

 

Total Revenues

 

$ 1,777,067

 

 

$ 6,049,319

 

 

$ 16,487

 

 

$ 7,842,873

 

Cost of Goods Sold

 

 

1,325,729

 

 

 

5,010,771

 

 

 

-

 

 

 

6,336,500

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

451,338

 

 

 

1,038,548

 

 

 

16,487

 

 

 

1,506,373

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative Expenses

 

 

855,999

 

 

 

2,210,475

 

 

 

2,962,813

 

 

 

6,029,287

 

 

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

Loss from Operations

 

 

(404,661 )

 

 

(1,171,927 )

 

 

(2,946,326 )

 

 

(4,522,914 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Debt Discount

 

 

-

 

 

 

-

 

 

 

(515,654 )

 

 

(515,654 )

Loss on Extinguishment of Debt

 

 

-

 

 

 

-

 

 

 

(1,639,137 )

 

 

(1,639,137 )

Gain on Fair Market Valuation of Derivatives

 

 

-

 

 

 

-

 

 

 

987,200

 

 

 

987,200

 

Interest Expense

 

 

-

 

 

 

-

 

 

 

(130,510 )

 

 

(130,510 )

Loss on Fair Market Valuation of Contingent Consideration

 

 

-

 

 

 

(77,286 )

 

 

-

 

 

 

(77,286 )

Gain on Settlement of Contingent Consideration

 

 

-

 

 

 

4,991,571

 

 

 

-

 

 

 

4,991,571

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Income (Expense)

 

 

-

 

 

 

4,914,285

 

 

 

(1,298,101 )

 

 

3,616,184

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Income (Loss)

 

$ (404,661 )

 

$ 3,742,358

 

 

$ (4,244,427 )

 

$ (906,730 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets at June 30, 2017

 

$ 7,104,469

 

 

$ 60,224,138

 

 

$ 9,550,062

 

 

$ 76,878,669

 

 

 
26
 
Table of Contents

 

 

 

For the Six Months Ended June 30, 2018

(Unaudited)

 

 

 

Herbs and Produce Products 

 

 

Cannabis Dispensary, Cultivation and Production 

 

 

Eliminations and Other 

 

 

Total 

 

Total Revenues

 

$ 2,786,690

 

 

$ 14,518,525

 

 

$ 28,328

 

 

$ 17,333,543

 

Cost of Goods Sold

 

 

2,221,811

 

 

 

11,255,869

 

 

 

-

 

 

 

13,477,680

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

564,879

 

 

 

3,262,656

 

 

 

28,328

 

 

 

3,855,863

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative Expenses

 

 

1,937,273

 

 

 

6,827,231

 

 

 

7,660,414

 

 

 

16,424,918

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Loss from Operations

 

 

(1,372,394 )

 

 

(3,564,575 )

 

 

(7,632,086 )

 

 

(12,569,055 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Debt Discount

 

 

-

 

 

 

-

 

 

 

(885,680 )

 

 

(885,680 )

Loss on Extinguishment of Debt

 

 

-

 

 

 

-

 

 

 

(7,858,723 )

 

 

(7,858,723 )

Gain on Fair Market Valuation of Derivatives

 

 

-

 

 

 

-

 

 

 

628,000

 

 

 

628,000

 

Interest Expense

 

 

-

 

 

 

(397 )

 

 

(590,603 )

 

 

(591,000 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Income (Expense)

 

 

-

 

 

 

(397 )

 

 

(8,707,006 )

 

 

(8,707,403 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

$ (1,372,394 )

 

$ (3,564,972 )

 

$ (16,339,092 )

 

$ (21,276,458 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets at June 30, 2018

 

$ 6,320,906

 

 

$ 71,591,669

 

 

$ 31,878,438

 

 

$ 109,791,013

 

 

 
27
 
Table of Contents

 

 

 

For the Six Months Ended June 30, 2017

(Unaudited)

 

 

 

Herbs and Produce Products 

 

 

Cannabis Dispensary, Cultivation and Production 

 

 

Eliminations and Other 

 

 

Total 

 

Total Revenues

 

$ 2,694,210

 

 

$ 11,936,357

 

 

$ 36,762

 

 

$ 14,667,329

 

Cost of Goods Sold

 

 

2,295,544

 

 

 

10,506,349

 

 

 

-

 

 

 

12,801,893

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Gross Profit

 

 

398,666

 

 

 

1,430,008

 

 

 

36,762

 

 

 

1,865,436

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Selling, General and Administrative Expenses

 

 

1,515,062

 

 

 

4,837,480

 

 

 

6,063,045

 

 

 

12,415,587

 

 

 

 

 

 

 

 

 

 

 

.

 

 

 

 

 

Loss from Operations

 

 

(1,116,396 )

 

 

(3,407,472 )

 

 

(6,026,283 )

 

 

(10,550,151 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Other Income (Expense):

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Amortization of Debt Discount

 

 

-

 

 

 

-

 

 

 

(1,126,270 )

 

 

(1,126,270 )

Loss on Extinguishment of Debt

 

 

-

 

 

 

-

 

 

 

(2,678,595 )

 

 

(2,678,595 )

Gain on Fair Market Valuation of Derivatives

 

 

-

 

 

 

-

 

 

 

2,597,950

 

 

 

2,597,950

 

Interest Expense

 

 

-

 

 

 

-

 

 

 

(288,343 )

 

 

(288,343 )

Loss on Fair Market Valuation of Contingent Consideration

 

 

-

 

 

 

(4,426,047 )

 

 

-

 

 

 

(4,426,047 )

Gain on Settlement of Contingent Consideration

 

 

-

 

 

 

4,991,571

 

 

 

-

 

 

 

4,991,571

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Other Income (Expense)

 

 

-

 

 

 

565,524

 

 

 

(1,495,258 )

 

 

(929,734 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Loss

 

$ (1,116,396 )

 

$ (2,841,948 )

 

$ (7,521,541 )

 

$ (11,479,885 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total Assets at June 30, 2017

 

$ 7,104,469

 

 

$ 60,224,138

 

 

$ 9,550,062

 

 

$ 76,878,669

 

 

NOTE 16 – LITIGATION AND CLAIMS

 

The Company is the subject of lawsuits and claims arising in the ordinary course of business from time to time. The Company reviews any such legal proceedings and claims on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions. The Company establishes accruals for those contingencies where the incurrence of a loss is probable and can be reasonably estimated, and it discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued if such disclosure is necessary for the Company’s financial statements to not be misleading. To estimate whether a loss contingency should be accrued by a charge to income, the Company evaluates, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of the loss. The Company does not record liabilities when the likelihood that the liability has been incurred is probable, but the amount cannot be reasonably estimated. Based upon present information, the Company determined that there were no matters that required an accrual as of June 30, 2018 nor were there any asserted or unasserted material claims for which material losses are reasonably possible.

 

 
28
 
Table of Contents

  

On April 11, 2018, the Company filed a lawsuit in the United States District Court, Central District of California against Kenneth Vande Vrede, Michael Vande Vrede, Steven Vande Vrede, Daniel Vande Vrede, Greda Vande Vrede, Beverly Willekes, Brian Vande Vrede, Gro-Rite, Inc. (“Gro-Rite”) and Naturally Beautiful Plant Products, LLC (“Naturally Beautiful”) alleging breach of contract, breach of fiduciary duties, conversion, fraud, breach of covenant of good faith and fair dealing, misappropriation of trade secrets, and conspiracy related to, among other things, the Share Exchange Agreement, dated as of April 24, 2013 among the Company, the Company’s wholly-owned subsidiary, Edible Garden Corp. (“Edible Garden”), and the individual defendants (the “Share Exchange Agreement”). The Company is seeking monetary damages, including attorneys’ fees and expenses, return of shares of the Company’s common stock issued to the individual defendants under the Share Exchange Agreement, return of stock options issued to the individual defendants, and return of the Company’s intellectual property.

 

On April 10, 2018, Gro-Rite, Naturally Beautiful and Whitetown Realty (“Whitetown Realty” and collectively, the “Whitetown Realty Plaintiffs”) filed a lawsuit in the Superior Court of New Jersey Law Division, Morris County against the Company and Edible Garden alleging, among other things, that Edible Garden owes certain amounts to Gro-Rite under a Marketing and Distribution Agreement between Edible Garden and Gro-Rite, dated May 7, 2013, and Naturally Beautiful under a Marketing and Distribution Agreement between Edible Garden and Naturally Beautiful, dated May 13, 2013 (collectively, the “Marketing and Distribution Agreements”), and that Edible Garden owes certain amounts to Whitetown Realty under the Lease between Whitetown Realty and Edible Garden, dated January 1, 2015 (the “Lease”). The Whitetown Realty Plaintiffs are seeking, among other things, compensatory damages for the amounts claimed are owed and attorneys’ fees and costs. The Company believes that Edible Garden does not owe any payments under the Marketing and Distribution Agreements or the Lease. The Company disputes the Whitetown Realty Plaintiffs’ allegations in the lawsuit and intends to vigorously defend itself. Accordingly, on May 18, 2018, the Company and Edible Garden filed an answer denying the allegations of the Whitetown Realty plaintiffs.  In that same pleading, Edible Garden filed a counterclaim against Naturally Beautiful and Gro-Rite asserting claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, trademark infringement/unfair competition, and tortious interference with contractual relations.  Edible Garden also filed a third-party complaint against previously unidentified defendants John Doe Entities 1-10 and John Doe Individuals 1-10 arising from the wrongful misappropriation and pirating of electricity from the Edible Garden facility located at 283 Route 519, Belvidere, New Jersey.  That third-party complaint alleges claims for unjust enrichment, tortious interference with contractual relations and conversion.  On June 8, 2018, Edible Garden filed an amended counterclaim adding a count for conversion against Naturally Beautiful and Gro-Rite.  On June 12, 2018, Edible Garden Corp. filed an amended third-party complaint adding Gerda Vande Vrede as a named third-party defendant.  On June 13, 2018, Gro-Rite and Naturally Beautiful filed an answer to Edible Garden’s amended counterclaim and Gerda Vande Vrede filed an answer to Edible Garden’s amended third-party complaint denying the allegations asserted against them.  No counterclaims, crossclaims or fourth party complaints were filed on behalf of Gerda Vande Vrede, Naturally Beautiful or Gro-Rite.

  

On April 13, 2018, Edible Garden Corp. filed a lawsuit in the Superior Court of New Jersey Chancery Division, Warren County against Whitetown Realty in response to a letter from a law firm representing Whitetown Realty alleging Edible Garden was in default of the Lease. Edible Garden is seeking declaratory and equitable relief to prevent Whitetown Realty from terminating the Lease and for attorneys’ fees and costs. The Company believes that Edible Garden has made all payments due to Whitetown Realty under the Lease and maintains Edible Garden is not in default of the Lease. On April 23, 2018, by order of the assignment judge of Warren County, the lawsuit was transferred to Morris County and consolidated with the April 10, 2018 lawsuit previously filed by Gro-Rite, Naturally Beautiful and Whitetown Realty in the Superior Court of New Jersey, Law Division, Morris County.  On June 13, 2018, Whitetown Realty filed its answer to the Edible Garden Complaint.  In that answer, Whitetown Realty denies that Edible Garden is entitled to the declaratory and equitable relief that Edible Garden requested.  No counterclaim was filed by Whitetown Realty.

 

On April 11, 2018, Kenneth Vande Vrede, Michael Vande Vrede and Steven Vande Vrede (collectively, the “Vande Vrede Brothers”) filed a lawsuit in the Superior Court of New Jersey Law Division, Warren County against the Company and Edible Garden alleging, among other things, that the Company and Edible Garden improperly suspended the Vande Vrede Brothers from their positions with the Company and Edible Garden. The Vande Vrede Brothers were seeking, among other things, a declaratory judgment that they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the Vande Vrede Brothers to their status with the Company and Edible Garden prior to their suspensions and attorneys’ fees and costs. The original complaint in this matter was never served, and on June 12, 2018, the Vande Vrede Brothers, and now David Vande Vrede, Daniel Vande Vrede, Beverly Willekes, and Whitetown Realty filed an amended complaint against Terra Tech, Edible Garden, Derek Peterson, Michael James, and Michael Nahass.  The Company filed a pre-answer motion to dismiss the amended complaint, arguing that any of the plaintiffs’ claims that relate to the Share Exchange Agreement, belong in the already existing lawsuit in California, and any of the plaintiffs’ claims that relate to the lease, belong in the already existing lawsuits in New Jersey.  The Company disputes the Vande Vredes’ allegations in the lawsuit and intends to vigorously defend itself.

 
 
29
 
Table of Contents

  

NOTE 17 – SUBSEQUENT EVENTS

 

Equity Financing Facility

 

On July 25, 2018, the Company issued a $5,000,000 convertible note to an accredited investor pursuant to the 2018 Master Securities Purchase Agreement. The convertible note matures in January 25, 2020 and accrues interest at a rate of 7.5% per year.

 

On July 25, 2018, the Company entered into a Securities Purchase Agreement with an accredited investor and issued a $150,000 convertible note. The convertible note matures in January 25, 2019 and accrues interest at a rate of 3.0% per year.

 

Debt and Interest Converted into Equity

 

Subsequent to June 30, 2018, senior convertible promissory notes and accrued interest issued under the 2018 Master Securities Purchase Agreement, in the amount of $3,000,000 and $35,938, respectively, were converted into 1,932,888 shares of common stock.

 

Option Issuances

 

In July 2018, the Company issued 945,000 options which vest quarterly over 3 years to various directors and executives.

  

Other

 

On July 26, 2018, the Company received approvals from local authorities for the change of ownership in NuLeaf. As a result, the notes receivable balance at June 30, 2018 was converted into a 50% ownership interest in NuLeaf in July 2018. See “Note 6 – Notes Receivable” for additional disclosure.

 

On July 26, 2018, the Company announced that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The Healing Tree Collective, Inc. was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana. The remaining 75% of The Healing Tree Collective, Inc. and therefore the associated permit, is held by other members of The Healing Tree Collective, Inc., with whom the Company partnered in order to complete the permit application process. Under the terms of the agreement between the Company and the other members of The Healing Tree Collective, Inc, the Company covered the costs of the permit application and Black Oak, will be responsible for managing all of the facility’s operations, including hiring decisions. The facility is located at 3222 W. Pendleton Ave, Santa Ana, California, an area of Santa Ana in which the Company did not previously have a presence.

 

On July 24, 2018, the Company announced it has been granted two permits by the City of Santa Ana to operate one retail dispensary on Dyer Road and one on Carnegie Avenue in Santa Ana, California. The first dispensary will be located at 620 East Dyer Road, with plans to become a fully vertical cannabis complex. The second dispensary will be located at 1815 E. Carnegie Avenue.

 

On July 6, 2018, MediFarm LLC, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Exhale Brands Nevada III, LLC (the “Purchaser”) pursuant to which the Company agreed to sell and the Purchaser agreed to purchase substantially all of the assets of the Company related to the Company’s dispensary located at 1921 Western Ave., Las Vegas, NV 89102 (the “Business”). See “Note 4 - Assets Held for Sale” for additional disclosure.

 

On July 30, 2018, the Company entered into Independent Director Agreements with Steven J. Ross (the “Ross Agreement”) and Alan Gladstone (the “Gladstone Agreement”).

 
 
30
 
Table of Contents

 

ITEM 2. MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS.

 

FORWARD-LOOKING STATEMENTS

 

In addition to historical information, this Quarterly Report on Form 10-Q may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), which provides a “safe harbor” for forward-looking statements made by us. All statements, other than statements of historical facts, including statements concerning our plans, objectives, goals, beliefs, business strategies, future events, business conditions, results of operations, financial position, business outlook, business trends, and other information, may be forward-looking statements. Words such as “might,” “will,” “may,” “should,” “estimates,” “expects,” “continues,” “contemplates,” “anticipates,” “projects,” “plans,” “potential,” “predicts,” “intends,” “believes,” “forecasts,” “future,” and variations of such words or similar expressions are intended to identify forward-looking statements. The forward-looking statements are not historical facts, and are based upon our current expectations, beliefs, estimates and projections, and various assumptions, many of which, by their nature, are inherently uncertain and beyond our control. Our expectations, beliefs, estimates, and projections are expressed in good faith and we believe there is a reasonable basis for them. However, there can be no assurance that management’s expectations, beliefs, estimates, and projections will occur or can be can achieved and actual results may vary materially from what is expressed in or indicated by the forward-looking statements.

 

There are a number of risks, uncertainties, and other important factors, many of which are beyond our control, that could cause actual results to differ materially from the forward-looking statements contained in this Quarterly Report on Form 10-Q. Such risks, uncertainties, and other important factors that could cause actual results to differ include, among others, the risk, uncertainties and factors set forth under “Item 1A. Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2017 and in other filings we make from time to time with the U.S. Securities and Exchange Commission (“SEC”).

  

We caution you that the risks, uncertainties, and other factors set forth in our periodic filings with the SEC may not contain all of the risks, uncertainties, and other factors that are important to you. In addition, we cannot assure you that we will realize the results, benefits, or developments that we expect or anticipate or, even if substantially realized, that they will result in the consequences or affect us or our business in the way expected. There can be no assurance that: (i) we have correctly measured or identified all of the factors affecting our business or the extent of these factors’ likely impact, (ii) the available information with respect to these factors on which such analysis is based is complete or accurate, (iii) such analysis is correct, or (iv) our strategy, which is based in part on this analysis, will be successful. All forward-looking statements in this report apply only as of the date of the report or as of the date they were made and, except as required by applicable law, we undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments, or otherwise.

 

Company Overview

 

Our corporate headquarters is located at 2040 Main Street, Suite 225, Irvine, California 92614 and our telephone number is (855) 447-6967. Our website addresses are as follows: www.terratechcorp.com, www.blumoak.com, www.letsblum.com, www.ivxx.com, and www.ediblegarden.com. No information available on or through our websites shall be deemed to be incorporated into this Annual Report on Form 10-K. Our common stock, par value $0.001 (the “Common Stock”), is quoted on the OTC Markets Group, Inc.’s OTCQX tier under the symbol “TRTCD.”

 
 
31
 
Table of Contents

 

Recent Developments

 

On March 12, 2018, we implemented a 1-for-15 reverse stock split of our common stock (the “Reverse Stock Split”). The Reverse Stock Split became effective in the stock market upon commencement of trading on March 13, 2018. As a result of the Reverse Stock Split, every fifteen shares of our Pre-Reverse Stock Split common stock were combined and reclassified into one share of our common stock. No fractional shares were issued in connection with the Reverse Stock Split, and any fractional shares were rounded up to the nearest whole share. The number of shares of common stock subject to outstanding options, warrants and convertible securities were also reduced by a factor of fifteen as of March 13, 2018. All historical share and per share amounts reflected throughout this report have been adjusted to reflect the Reverse Stock Split. The authorized number of shares and the par value per share of our common stock were not affected by the Reverse Stock Split.

 

Our Business

 

We are a vertically integrated retail, production and cultivation company, with an emphasis on providing the highest quality of medical and adult use cannabis products. We also hold an exclusive patent on an organic antioxidant rich Superleaf lettuce and sell living herbs that are grown using classic Dutch hydroponic farming methods.

 

We have a presence in three states (California, Nevada and New Jersey) and currently have cannabis operations in California and Nevada. Our cannabis dispensaries operate under the name Blüm. Our cannabis dispensaries offer a broad selection of medical and adult use cannabis products including flowers, concentrates and edibles.

  

In California, we have two dispensaries, one under Black Oak in Oakland, California and one under MediFarm SoCal in Santa Ana, California, which sell quality medical and adult use cannabis products. We are currently in various stages of construction in both states as we are rapidly expanding our commercial footprint focusing on building additional retail, cultivation and production locations for medical and adult use cannabis. The Hegenberger cultivation facility in Oakland under Black Oak is expected to be complete by the third quarter of 2018, with additional medical and adult use locations under Dyer and Carnegie in which we own the real property. We have received provisional permits to operate a dispensary and production facility in the city of San Leandro, California under Blüm San Leandro; and upon project completion and inspection, to receive final operating permits.

 

In Nevada, we have four dispensaries, three under MediFarm in Las Vegas and one under MediFarm I in Reno, which sell quality medical and adult use cannabis products. We own real property in Reno under MediFarm I RE, on which MediFarm I operates its dispensary. Under MediFarm II, we are constructing a state of the art cultivation and production facility, which will produce our IVXX proprietary brand of cannabis flowers and cannabis extracted products available throughout Nevada.

 

We have access to wide consumer markets for cannabis in both Nevada and California for which our focus is on building a brand portfolio of a line of quality IVXX cannabis products. Within our highly advanced and custom designed extraction labs, we produce the purest concentrates and cannabis extracted products including cartridges and vape pens. Our IVXX cannabis flowers are grown under meticulous standards ensuring exceptional quality and consistency.

 

 
32
 
Table of Contents

  

Founded on the importance of providing consumers with healthy and natural products, Edible Garden is a wholesale seller of organic and locally grown hydroponic produce and herb products. EG Transportation supports the distribution of Edible Garden products to major grocery stores such as ShopRite, Walmart, Ahold, Aldi, Meijer, Kroger, and others throughout New Jersey, New York, Delaware, Maine, Maryland, Connecticut, Pennsylvania and the Midwest.

 

We have a “rollup” growth strategy, which includes the following components:

 

·

With our brand recognition and experienced management team, maximize productivity, provide economies of scale, and increase profitability through our public market vehicle;

·

Acquire unique products and niche players where barriers to entry are high and margins are robust, providing them with a broader outlet for their products; and

·

Acquire multiple production facilities to capture the market vertically from manufacturing to production up to retail.

 

Our business also represents our operating segments. See our Part I, Item 1. Business, “Company Overview” and “Note 15 – Segment Information” to our unaudited consolidated financial statements for further discussion of our operating segments.

 

Our Operations

 

We are organized into two reportable segments:

 

 

·

Herbs and Produce Products – Includes herbs and leafy greens that are grown using classic Dutch hydroponic farming methods; and

 

·

Cannabis Dispensary, Cultivation and Production – Includes cannabis-focused retail, cultivation and production.

 

Our segment net revenue and contributions to consolidated net revenue for each of the three and six months ended June 30, 2018 and 2017 were as follows:

 

 

 

Total Revenue

 

 

Percentage of Total Revenue

 

 

 

Three Months Ended

 

 

Three Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Herbs and Produce Products

 

$ 1,502,789

 

 

$ 1,777,067

 

 

 

17.24 %

 

 

22.66 %

Cannabis Dispensary, Cultivation and Production

 

 

7,203,971

 

 

 

6,049,319

 

 

 

82.63 %

 

 

77.13 %

Other and Eliminations

 

 

11,417

 

 

 

16,487

 

 

 

0.13 %

 

 

0.21 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$ 8,718,177

 

 

$ 7,842,873

 

 

 

100.00 %

 

 

100.00 %

 

 
33
 
Table of Contents

 

 

 

Total Revenue

 

 

Percentage of Total Revenue

 

 

 

Six Months Ended

 

 

Six Months Ended

 

 

 

June 30,

 

 

June 30,

 

 

 

2018

 

 

2017

 

 

2018

 

 

2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Herbs and Produce Products

 

$ 2,786,690

 

 

$ 2,694,210

 

 

 

16.08 %

 

 

18.37 %

Cannabis Dispensary, Cultivation and Production

 

 

14,518,525

 

 

 

11,936,357

 

 

 

83.76 %

 

 

81.38 %

Other and Eliminations

 

 

28,328

 

 

 

36,762

 

 

 

0.16 %

 

 

0.25 %

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

$ 17,333,543

 

 

$ 14,667,329

 

 

 

100.00 %

 

 

100.00 %
 

See “Note 2 – Summary of Significant Accounting Policies” to our unaudited consolidated financial statements for financial information about our segments. See also “Item 1A. Risk Factors” below for a discussion of certain risks associated with our operations.

 

Herbs and Produce Products

 

Either independently or in conjunction with third parties, we are a retail seller of locally grown hydroponic herbs and produce, which are distributed through major grocery stores throughout the East, West and Midwest regions of the U.S.

 

Cannabis Dispensary, Cultivation and Production

 

Either independently or in conjunction with third parties, we operate medical cannabis retail and adult use dispensaries and a medical cannabis and adult use cultivation in California. In addition, we operate four retail medical and adult use cannabis dispensary facilities in Nevada, and have in various stages of construction, medical cannabis and adult use cultivation and production facilities in Nevada. We own real property in Nevada on which we plan to build a medical and adult use cannabis dispensary. All of our retail dispensaries in California and Nevada offer a broad selection of medical and adult use cannabis products including flowers, concentrates and edibles. We also produce and sell a line of medical and adult use cannabis flowers, as well as a line of medical and adult use cannabis-extracted products, which include concentrates, cartridges, vape pens and wax products.

 

Employees

 

As of the date of this Quarterly Report on Form 10-Q, we had approximately 255 employees.

  

RESULTS OF OPERATIONS

 

Three Months Ended June 30, 2018 Compared to Three Months Ended June 30, 2017

 

Revenues

 

For the three months ended June 30, 2018, we generated revenues of $8.72 million, compared to $7.84 million for the three months ended June 30, 2017, an increase of $0.88 million or 11.2 percent. The increase was primarily due to: (i) $2.43 million higher revenues generated by the Nevada MediFarm dispensaries primarily due to the implementation of adult use sales in July 2017; (ii) $0.45 million in revenues generated by MediFarm SoCal which started operations in September 2017; (iii) $0.93 million decrease in IVXX revenues due to the production facilities of IVXX are currently being relocated to an upgraded facility that will facilitate the increase in production and achieve greater distribution throughout California. Project completion is estimated to be in the fourth quarter of 2018; and (iv) $0.82 million decrease in Black Oak revenues resulting from higher California state excise tax rates effective January 1, 2018, which negatively impacted demand, and a $0.21 million decrease in Edible Garden. At this stage in our development, revenues are not yet sufficient to cover ongoing operating expenses.

 
 
34
 
Table of Contents

 

Gross Profit

 

Our gross profit for the three months ended June 30, 2018 was $2.21 million, compared to a gross profit of $1.51 million for the three months ended June 30, 2017, an increase of $0.70 million or 46.6 percent. Our gross margin percentage for the three months ended June 30, 2018 was 25.3 percent, compared to 19.2 percent for the three months ended June 30, 2017. The increase was primarily attributable to the cannabis segment, which increased by $0.61 million primarily resulting from higher level of revenue to cover fixed overhead included in cost of goods sold.

 

Selling, General and Administrative Expenses

 

Selling, general and administrative expenses for the three months ended June 30, 2018 were $8.00 million, compared to $6.03 million for the three months ended June 30, 2017, an increase of $1.97 million or 32.7 percent. The increase was primarily due to: (i) a $0.95 million increase in salaries and related payroll taxes due to new hires in the compliance department and overall headcount increases; (ii) a $0.59 million increase in stock compensation related to employee bonuses; and (iii) a $0.35 million increase in other professional fees related to outside consultants implementing new accounting systems.

 

Operating Income (Loss)

 

We realized an operating loss of $5.79 million for the three months ended June 30, 2018, compared to an operating loss of $4.52 million for the three months ended June 30, 2017, an increase of approximately $1.27 million or 28.1 percent.

 

Other Income (Expense)

 

Other expense for the three months ended June 30, 2018 was $5.53 million, compared to other income of $3.62 million for the three months ended June 30, 2017, a decrease of $9.15 million or 252.9 percent. This decrease was primarily attributable to: (i) a gain on the settlement of the contingent consideration of $4.99 million from Black Oak during the three months ended June 30, 2017, compared to zero in the three months ended June 30, 2018; (ii) an increase in loss on fair market valuation of derivatives of $2.64 million; and (iii) an increase in loss on extinguishment of debt of $1.49 million. 

 

Net Loss Attributable to Terra Tech Corp.

 

We incurred a net loss of $11.43 million, or $0.17 per share, for the three months ended June 30, 2018, compared to a net loss of $0.45 million, or $0.01 per share, for the three months ended June 30, 2017.

 

Management will continue its efforts to lower operating expenses and increase revenue. We will continue to invest in further expanding our operations and a comprehensive marketing campaign with the goal of accelerating the education of potential clients and promoting our name and our products. Given the fact that most of the operating expenses are fixed or have a quasi-fixed character, management expects that, as revenue increases, those expenses, as a percentage of revenue, will significantly decrease. Nevertheless, there can be no assurance that we will be able to increase our revenues in succeeding quarters.

 

Six Months Ended June 30, 2018 Compared to Six Months Ended June 30, 2017

 

Revenues

 

For the six months ended June 30, 2018, we generated revenues of $17.33 million, compared to $14.67 million for the six months ended June 30, 2017, an increase of $2.67 million or 18.2 percent. The increase was primarily due to: (i) $4.96 million higher revenues generated by the Nevada MediFarm dispensaries primarily due to the implementation of adult use sales in July 2017; (ii) $1.01 million revenue generated by MediFarm SoCal which started operations in September 2017; (iii) $2.40 million decrease in IVXX revenues due to the production facilities of IVXX are currently being relocated to an upgraded facility that will facilitate the increase in production and achieve greater distribution throughout California. Project completion is estimated to be in the fourth quarter of 2018; and (iv) $0.99 million decrease in Black Oak revenues resulting from higher California state excise tax rates effective January 1, 2018, which negatively impacted demand. At this stage in our development, revenues are not yet sufficient to cover ongoing operating expenses.

 
 
35
 
Table of Contents

 

Gross Profit

 

Our gross profit for the six months ended June 30, 2018 was $3.86 million, compared to a gross profit of $1.87 million for the six months ended June 30, 2017, an increase of $1.99 million or 106.7 percent. Our gross margin percentage for the six months ended June 30, 2018 was 22.3 percent, compared to 12.7 percent for the six months ended June 30, 2017. The increase in gross margin percentage was attributable to: (i) the cannabis segment, which had $3.26 million and $1.43 million gross profit for the six months ended June 30, 2018 and 2017, respectively, or 22.5 percent and 12.0 percent gross margin for the six months ended June 30, 2018 and 2017, respectively; and (ii) the herbs and produce segment, which had $0.56 million and $0.40 million gross profit for the six months ended June 30, 2018 and 2017, respectively, or 20.3 percent and 14.8 percent gross margin for the six months ended June 30, 2018 and 2017, respectively. The cannabis segment increase was primarily related to the gross profit margins generated from the Nevada MediFarm dispensaries due to the implementation of adult use sales in July 2017.

 

Selling, General and Administrative Expenses

 

Selling, general and administrative expenses for the six months ended June 30, 2018 were $16.42 million, compared to $12.42 million for the six months ended June 30, 2017, an increase of $4.01 million or 32.3 percent. The increase was primarily due to: (i) a $1.94 million increase in salaries and related payroll taxes due to new hires in the compliance department and overall headcount increases; (ii) a $1.04 million increase in stock compensation related to employee bonuses; (iii) a $0.51 million increase in license, permits and property taxes due to higher revenue generated from the cannabis segment; and (iv) a $0.37 million increase in depreciation and amortization due to new assets placed in service.

 

Operating Income (Loss)

 

We realized an operating loss of $12.57 million for the six months ended June 30, 2018, compared to an operating loss of $10.55 million for the six months ended June 30, 2017, an increase of $2.02 million or 19.1 percent.

 

Other Income (Expense)

 

Other expense for the six months ended June 30, 2018 was $8.71 million, compared to $0.93 million for the six months ended June 30, 2017, an increase of $7.78 million or 836.6 percent. This increase was primarily attributable to: (i) a gain on the settlement of the contingent consideration of $4.99 million from Black Oak during the six months ended June 30, 2017, compared to zero in the six months ended June 30, 2018; (ii) a $4.43 million loss on fair market valuation of contingent consideration during the six months ended June 30, 2017, compared to zero in the six months ended June 30, 2018; (iii) an increase in loss on extinguishment of debt of $5.18 million; and (iv) a decrease in gain on fair market valuation of derivatives of $1.97 million. 

 

Net Loss Attributable to Terra Tech Corp.

 

We incurred a net loss attributable to Terra Tech Corp. of $21.46 million, or $0.32 per share, for the six months ended June 30, 2018, compared to $10.57 million, or $0.28 per share, for the six months ended June 30, 2017.

 

Management will continue its efforts to lower operating expenses and increase revenue. We will continue to invest in further expanding our operations and a comprehensive marketing campaign with the goal of accelerating the education of potential clients and promoting our name and our products. Given the fact that most of the operating expenses are fixed or have a quasi-fixed character, management expects that, as revenue increases, those expenses, as a percentage of revenue, will significantly decrease. Nevertheless, there can be no assurance that we will be able to increase our revenues in succeeding quarters.

 
 
36
 
Table of Contents

 

DISCLOSURE ABOUT OFF-BALANCE SHEET ARRANGEMENTS

 

We do not have any transactions, agreements or other contractual arrangements that constitute off-balance sheet arrangements.

 

CRITICAL ACCOUNTING POLICIES AND ESTIMATES

 

Our “Management’s Discussion and Analysis of Financial Condition and Results of Operations” section discusses our unaudited consolidated financial statements, which have been prepared in accordance with accounting principles generally accepted in the United States of America. The preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. On an on-going basis, management evaluates its estimates and judgments, including those related to revenue recognition, accrued expenses, financing operations, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not readily apparent from other sources. Actual results may differ from these estimates under different assumptions or conditions. The most significant accounting estimates inherent in the preparation of our financial statements include estimates as to the appropriate carrying value of certain assets and liabilities which are not readily apparent from other sources. These accounting policies are described in “Note 2 - Summary of Significant Accounting Policies” of the notes to unaudited consolidated financial statements included in this report.

 

LIQUIDITY AND CAPITAL RESOURCES

 

We have never reported net income. We incurred net losses for the six months ended June 30, 2018 and 2017 and have an accumulated deficit of approximately $127.01 million and $105.55 million at June 30, 2018 and December 31, 2017, respectively.

 

As of June 30, 2018, we had working capital of $12.39 million, including $5.15 million of cash compared to working capital of $3.47 million, including $5.45 million of cash as of December 31, 2017. Current assets were approximately 3.1 times current liabilities as of June 30, 2018, compared to approximately 1.2 times current liabilities as of December 31, 2017.

 

We have not been able to generate sufficient cash from operating activities to fund our ongoing operations. Additional requirements for inventory will continue to increase. Prior to 2017, Black Oak had been purchasing inventory on a consignment basis. Accordingly, title did not pass to us until we ultimately sold the inventory. During 2017 the terms of our purchase of inventory changed with the various vendors we purchased from. The vendors required that title passes to us upon delivery to us. Accordingly, this increased our cash requirements for operational purposes as we are now required to pay with normal terms. Since our inception, we have raised capital through private sales of preferred stock, common stock, and debt securities. Our future success is dependent upon our ability to achieve profitable operations and generate cash from operating activities. There is no guarantee that we will be able to generate enough revenue and/or raise capital to support our operations.

 

In connection with the sale of the Company’s MediFarm LLC dispensary located at 1921 Western Ave., Las Vegas, NV 89102, the Company expects to generate net cash of approximately $6.25 million. Other than these proceeds, the Company does not expect the sale of MediFarm LLC to have a significant impact on liquidity.

 

We anticipate requiring additional capital for the commercial development of our facilities. Blüm San Leandro and the Hegenberger facility, together, will require approximately $1.5 million in capital to complete. Construction for the completion of the packaging facility for Edible Garden will require approximately $0.8 million. The estimated construction budget for the development of the cultivation and production facilities under MediFarm II is approximately $2.0 million.

 

 

37

 
Table of Contents

  

We will be required to raise additional funds through public or private financing, additional collaborative relationships or other arrangements until we are able to raise revenues to a point of positive cash flow. We believe our existing and available capital resources will be sufficient to satisfy our funding requirements through the fourth quarter of 2020. However, we continue to evaluate various options to further reduce our cash requirements to operate at a reduced rate, as well as options to raise additional funds, including obtaining loans and selling common stock. In March 2018 we entered into a $40.0 million 2018 Master Security Purchase Agreement with an accredited investor. As of June 30, 2018, the Company has received $5.0 million under this agreement. There is no guarantee that we will be able to generate enough revenue and/or raise capital to support our operations, or if we are able to raise capital, that it will be available to us on acceptable terms, on an acceptable schedule, or at all.

 

The issuance of additional securities may result in a significant dilution in the equity interests of our current stockholders. Obtaining loans, assuming these loans would be available, will increase our liabilities and future cash commitments. There is no assurance that we will be able to obtain further funds required for our continued operations or that additional financing will be available for use when needed or, if available, that it can be obtained on commercially reasonable terms. If we are not able to obtain the additional financing on a timely basis, we will not be able to meet our other obligations as they become due and we will be forced to scale down or perhaps even cease our operations.

 

Operating Activities

 

Cash used in operating activities for the six months ended June 30, 2018 was $9.87 million, compared to $7.15 million for the six months ended June 30, 2017, an increase of $2.72 million, or approximately 38.1 percent. Increases in cash used in operating activities were due to: (i) an increase in net loss of $9.80 million; (ii) an increase of $5.18 million in loss on extinguishment of debt; and (iii) a decrease of $1.97 million in gain on fair value market valuation of derivatives.

 

Investing Activities

 

Cash used in investing activities for the six months ended June 30, 2018 was $8.46 million, compared to cash used in investing activities of $1.04 million for the six months ended June 30, 2017, an increase of $7.42 million, or 716.4 percent. During the six months ended June 30, 2018, cash used in investing activities was primarily comprised of expenditures related to: (i) the construction of the San Leandro and Oakland facilities; (ii) capital expenditures at Edible Garden in Belvidere, N.J.; and (iii) payment for acquisition of land in Santa Ana, California.

 

Financing Activities

 

Cash provided by financing activities for the six months ended June 30, 2018 was $18.08 million, compared to $7.57 million for the six months ended June 30, 2017, an increase of $10.51 million, or 138.8 percent. The increase in cash provided by financing activities for the six months ended June 30, 2018 was primarily due to: (i) $9.0 million from the issuance of debt; (ii) a $2.09 million payment of contingent consideration; offset by (iii) a $0.47 million increase in cash paid for debt discount.

 

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK.

 

Our primary market risks are attributable to fluctuations in commodity prices and interest rates. These fluctuations can affect revenues and cash flow from operating, investing and financing activities.

 

Commodity Price Risk

 

Our most significant market risk relates to fluctuations in marijuana prices. Management expects the prices of these commodities to remain volatile and unpredictable. As these prices decline or rise significantly, revenues and cash flow will also decline or rise significantly.

 
 
38
 
Table of Contents

 

Interest Rate Risk

 

As of June 30, 2018, we had no outstanding variable-rate debt and $15.0 million of principal fixed-rate debt.

 

Credit Risk

 

Our exposure to non-payment or non-performance by our customers and counterparties presents a credit risk. Generally, non-payment or non-performance results from a customer’s or counterparty’s inability to satisfy obligations. We may also be exposed to credit risk due to the concentration of our customers in the medical marijuana industry, as our customers may be similarly affected by changes in regulatory and legal conditions in the states and municipalities in which we operate.

 

ITEM 4. CONTROLS AND PROCEDURES.

 

Under the supervision and with the participation of our management, our principal executive officer and our principal financial officer are responsible for conducting an evaluation of the effectiveness of the design and operation of our disclosure controls and procedures, as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act, as of June 30, 2018. Disclosure controls and procedures means that the material information required to be included in our SEC reports is recorded, processed, summarized, and reported within the time periods specified in SEC rules and forms relating to our company, including any consolidating subsidiaries, and was made known to us by others within those entities, particularly during the period when this report was being prepared. Based on this evaluation, our principal executive officer and principal financial officer concluded as of the evaluation date that our disclosure controls and procedures were not effective as of June 30, 2018.

 

As of December 31, 2017, management assessed the effectiveness of our internal controls over financial reporting. Management concluded, as of the year ended December 31, 2017, that our internal controls and procedures were not effective to detect the inappropriate application of U.S. GAAP rules. Management concluded that our internal controls were adversely affected by deficiencies in the design or operation of our internal controls, which management considered to be material weaknesses. These material weaknesses include the following:

 

Risk Assessment – We did not have an effective risk assessment process. From a governance perspective, our formal process to identify, update and assess risks, including changes in our business practices that significantly impact our consolidated financial statements as well as the system of internal control over financial reporting was incomplete.

 

Control Environment – We did not maintain an effective control environment as evidenced by:

 

 

·

Lack of majority independent board members.

 

·

An insufficient number of personnel to adequately exercise appropriate oversight of accounting judgements and estimates.

 

Control Activities – We did not have control activities that were designed and operating effectively to identify and address all likely sources of material misstatements, including non-standard transactions. In addition, management review controls were not sufficient or in place to identify all potential accounting errors.

 

Information and Communications – We had not implemented appropriate information technology controls related to access rights for certain financial spreadsheets that are relevant to the preparation of the consolidated financial statements and our system of internal control over financial reporting. In addition, we did not implement the appropriate information technology disaster recovery controls in place to ensure the completeness of financial information surrounding revenues and inventory.

 

 
39
 
Table of Contents

  

Monitoring – We did not maintain effective monitoring of controls related to the financial close and reporting process. In addition, we did not maintain the appropriate level of review and remediation of internal control over financial reporting deficiencies throughout interim and annual financial periods.

 

The failure to implement and maintain proper and effective internal controls and disclosure controls could result in material weaknesses in our financial reporting, such as errors in our financial statements and in the accompanying footnote disclosures that could require restatements. Investors may lose confidence in our reported financial information and disclosure, which could negatively impact our stock price.

 

We do not expect that our internal controls over financial reporting will prevent all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. Further, the design of a control system must reflect the fact that there are resource constraints, and the benefits of controls must be considered relative to their costs. Controls can be circumvented by the individual acts of some persons, by collusion of two or more people, or by management override of the controls. Over time, controls may become inadequate because changes in conditions or deterioration in the degree of compliance with policies or procedures may occur. Because of the inherent limitations in a cost-effective control system, misstatements due to error or fraud may occur and not be detected.

 

Plan for Remediation of the Material Weaknesses

 

We are implementing and are continuing to implement a number of measures to address the material weaknesses identified. The remediation activities undertaken by the Company included the following:

 

 

·

Continuing to improve the control environment through (i) being staffed with sufficient number of personnel to address segregation of duties issues, ineffective controls and to perform control monitoring activities, (ii) increasing the level of GAAP knowledge by retaining additional technical accountants, (iii) implementing formal process to account for non-standard transactions, and (iv) implementing and formalizing management oversight of financial reporting at regular intervals;

 

·

Continuing to update the documentation of our internal control processes, including implementing formal risk assessment processes;

 

·

Implementing control activities that address relevant risks and assure that all transactions are subject to such control activities;

 

·

Ensure systems that impact financial information and disclosures have effective information technology controls;

 

·

Executing plan to increase number of independent directors to enhance corporate governance and Board composition;

 

·

Hiring of third party Sarbanes-Oxley consultants to assist management with the implementation of additional control activities;

 

·

Implementing plan to increase oversight and review of ad hoc spreadsheets while also working to reduce their use; and

 

·

Designation of VP Director of Internal Controls and hiring of sufficient personnel to effectively implement changes to remediate the material weakness and control over financial reporting.

 

There are no assurances that the measures we have taken to date, or any measures we may take in the future, will be sufficient to remediate the material weaknesses we have identified or avoid potential future material weaknesses.

 

Changes in Internal Control over Financial Reporting

 

There were no changes in our internal control over financial reporting (as defined in Rules 13a-15(f) and 15d-15(f) under the Exchange Act) as of June 30, 2018 that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting, except as disclosed in Remediation of Material Weakness above.

 
 
40
 
Table of Contents

 

PART II — OTHER INFORMATION

 

ITEM 1. LEGAL PROCEEDINGS.

 

The Company is the subject of lawsuits and claims arising in the ordinary course of business from time to time. The Company reviews any such legal proceedings and claims on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions. The Company establishes accruals for those contingencies where the incurrence of a loss is probable and can be reasonably estimated, and it discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued if such disclosure is necessary for the Company’s financial statements to not be misleading. To estimate whether a loss contingency should be accrued by a charge to income, the Company evaluates, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of the loss. The Company does not record liabilities when the likelihood that the liability has been incurred is probable, but the amount cannot be reasonably estimated. Based upon present information, the Company determined that there were no matters that required an accrual as of June 30, 2018 nor were there any asserted or unasserted material claims for which material losses are reasonably possible.

 

On April 11, 2018, the Company filed a lawsuit in the United States District Court, Central District of California against Kenneth Vande Vrede, Michael Vande Vrede, Steven Vande Vrede, Daniel Vande Vrede, Greda Vande Vrede, Beverly Willekes, Brian Vande Vrede, Gro-Rite, Inc. (“Gro-Rite”) and Naturally Beautiful Plant Products, LLC (“Naturally Beautiful”) alleging breach of contract, breach of fiduciary duties, conversion, fraud, breach of covenant of good faith and fair dealing, misappropriation of trade secrets, and conspiracy related to, among other things, the Share Exchange Agreement, dated as of April 24, 2013 among the Company, the Company’s wholly-owned subsidiary, Edible Garden Corp. (“Edible Garden”), and the individual defendants (the “Share Exchange Agreement”). The Company is seeking monetary damages, including attorneys’ fees and expenses, return of shares of the Company’s common stock issued to the individual defendants under the Share Exchange Agreement, return of stock options issued to the individual defendants, and return of the Company’s intellectual property.

 

On April 10, 2018, Gro-Rite, Naturally Beautiful and Whitetown Realty (“Whitetown Realty” and collectively, the “Whitetown Realty Plaintiffs”) filed a lawsuit in the Superior Court of New Jersey Law Division, Morris County against the Company and Edible Garden alleging, among other things, that Edible Garden owes certain amounts to Gro-Rite under a Marketing and Distribution Agreement between Edible Garden and Gro-Rite, dated May 7, 2013, and Naturally Beautiful under a Marketing and Distribution Agreement between Edible Garden and Naturally Beautiful, dated May 13, 2013 (collectively, the “Marketing and Distribution Agreements”), and that Edible Garden owes certain amounts to Whitetown Realty under the Lease between Whitetown Realty and Edible Garden, dated January 1, 2015 (the “Lease”). The Whitetown Realty Plaintiffs are seeking, among other things, compensatory damages for the amounts claimed are owed and attorneys’ fees and costs. The Company believes that Edible Garden does not owe any payments under the Marketing and Distribution Agreements or the Lease. The Company disputes the Whitetown Realty Plaintiffs’ allegations in the lawsuit and intends to vigorously defend itself. Accordingly, on May 18, 2018, the Company and Edible Garden filed an answer denying the allegations of the Whitetown Realty plaintiffs.  In that same pleading, Edible Garden filed a counterclaim against Naturally Beautiful and Gro-Rite asserting claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, trademark infringement/unfair competition, and tortious interference with contractual relations.  Edible Garden also filed a third-party complaint against previously unidentified defendants John Doe Entities 1-10 and John Doe Individuals 1-10 arising from the wrongful misappropriation and pirating of electricity from the Edible Garden facility located at 283 Route 519, Belvidere, New Jersey.  That third-party complaint alleges claims for unjust enrichment, tortious interference with contractual relations and conversion.  On June 8, 2018, Edible Garden filed an amended counterclaim adding a count for conversion against Naturally Beautiful and Gro-Rite.  On June 12, 2018, Edible Garden Corp. filed an amended third-party complaint adding Gerda Vande Vrede as a named third-party defendant.  On June 13, 2018, Gro-Rite and Naturally Beautiful filed an answer to Edible Garden’s amended counterclaim and Gerda Vande Vrede filed an answer to Edible Garden’s amended third-party complaint denying the allegations asserted against them.  No counterclaims, crossclaims or fourth party complaints were filed on behalf of Gerda Vande Vrede, Naturally Beautiful or Gro-Rite.

 

On April 13, 2018, Edible Garden Corp. filed a lawsuit in the Superior Court of New Jersey Chancery Division, Warren County against Whitetown Realty in response to a letter from a law firm representing Whitetown Realty alleging Edible Garden was in default of the Lease. Edible Garden is seeking declaratory and equitable relief to prevent Whitetown Realty from terminating the Lease and for attorneys’ fees and costs. The Company believes that Edible Garden has made all payments due to Whitetown Realty under the Lease and maintains Edible Garden is not in default of the Lease. On April 23, 2018, by order of the assignment judge of Warren County, the lawsuit was transferred to Morris County and consolidated with the April 10, 2018 lawsuit previously filed by Gro-Rite, Naturally Beautiful and Whitetown Realty in the Superior Court of New Jersey, Law Division, Morris County.  On June 13, 2018, Whitetown Realty filed its answer to the Edible Garden Complaint.  In that answer, Whitetown Realty denies that Edible Garden is entitled to the declaratory and equitable relief that Edible Garden requested.  No counterclaim was filed by Whitetown Realty.

 
 
41
 
Table of Contents

  

On April 11, 2018, Kenneth Vande Vrede, Michael Vande Vrede and Steven Vande Vrede (collectively, the “Vande Vrede Brothers”) filed a lawsuit in the Superior Court of New Jersey Law Division, Warren County against the Company and Edible Garden alleging, among other things, that the Company and Edible Garden improperly suspended the Vande Vrede Brothers from their positions with the Company and Edible Garden. The Vande Vrede Brothers were seeking, among other things, a declaratory judgment that they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the Vande Vrede Brothers to their status with the Company and Edible Garden prior to their suspensions and attorneys’ fees and costs. The original complaint in this matter was never served, and on June 12, 2018, the Vande Vrede Brothers, and now David Vande Vrede, Daniel Vande Vrede, Beverly Willekes, and Whitetown Realty filed an amended complaint against Terra Tech, Edible Garden, Derek Peterson, Michael James, and Michael Nahass.  The Company filed a pre-answer motion to dismiss the amended complaint, arguing that any of the plaintiffs’ claims that relate to the Share Exchange Agreement, belong in the already existing lawsuit in California, and any of the plaintiffs’ claims that relate to the lease, belong in the already existing lawsuits in New Jersey.  The Company disputes the Vande Vredes’ allegations in the lawsuit and intends to vigorously defend itself.

 

From time to time, we also may become subject to other litigation or proceedings in connection with our business, as either a plaintiff or defendant.

 

ITEM 1A. RISK FACTORS.

 

There have been no material changes to the risk factors disclosed in Part I, Item 1A, “Risk Factors”, of our Annual Report on Form 10-K for the year ended December 31, 2017, except for the risk factor noted below. Please refer to that section for disclosures regarding the risk and uncertainties relating to our business.

 

California Phase-In of Laboratory Testing Requirements

 

Beginning July 1, 2018, cannabis goods must meet all statutory and regulatory requirements. A licensee can only sell cannabis goods that have been tested by a licensed testing laboratory and have passed all statutory and regulatory testing requirements. In order to be sold, cannabis goods harvested or manufactured prior to January 1, 2018, must be tested by a licensed testing laboratory and must comply with all testing requirements in section 5715 of the Bureau of Cannabis Control (“BCC”) regulations. Cannabis goods that do not meet all statutory and regulatory requirements must be destroyed in accordance with the rules pertaining to destruction. See “Note 3 – Concentrations of Business and Credit Risk” for additional information on California laboratory testing requirements.

 

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

 

None.

 

ITEM 3. DEFAULTS UPON SENIOR SECURITIES.

 

None.

 

ITEM 4. MINE SAFETY DISCLOSURES.

 

None.

 

ITEM 5. OTHER INFORMATION.

 

None.

 
42
 
Table of Contents

  

ITEM 6. EXHIBITS.

 

Exhibit

 

Description

 

3.1

 

Amended Bylaws, dated June 20, 2018 *

 

4.1

 

Form of 7.5% Senior Convertible Promissory Note (1)

 

4.2

 

Amendment No. 1 to Convertible Promissory Note (2)

 

4.3

 

Amendment No. 1 to Convertible Promissory Note (2)

 

31.1

 

Certification of Derek Peterson, Chief Executive Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *

 

31.2

 

Certification of Michael C. James, Chief Financial Officer, pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. *

 

32.1

 

Certification of Derek Peterson, Chief Executive Officer, pursuant to Sections 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. *

 

32.2

 

Certification of Michael C. James, Chief Financial Officer, pursuant to Sections 906 of the Sarbanes-Oxley Act of 2002, 18 U.S.C. Section 1350. *

 

101.INS

 

XBRL Instance Document *

 

101.SCH

 

XBRL Taxonomy Extension Schema Document *

 

101.CAL

 

XBRL Taxonomy Extension Calculations Linkbase Document *

 

101.DEF

 

XBRL Taxonomy Extension Definition Linkbase Document *

 

101.LAB

 

XBRL Taxonomy Extension Label Linkbase Document *

 

101.PRE

 

XBRL Taxonomy Presentation Linkbase Document *

__________________

* Filed herewith

 

 

(1) Incorporated by reference to Current Report on Form 8-K filed with the SEC on June 8, 2018.
(2) Incorporated by reference to Current Report on Form 8-K filed with the SEC on May 2, 2018.
 

 
43
 
Table of Contents

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

TERRA TECH CORP.

Date: August 9, 2018

By:

/s/ Michael C. James

Michael C. James

Chief Financial Officer

(Principal Accounting Officer and

Principal Financial Officer)

 
 
44

 

EX-3.1 2 trtc_ex31.htm BYLAWS trtc_ex31.htm

EXHIBIT 3.1

 

BYLAWS

 

OF

 

Terra Tech Corp.

 

A Nevada Corporation

 

ARTICLE I

 

SHAREHOLDERS

 

1. Annual Meeting

 

A meeting of the shareholders shall be held annually for the elections of directors and the transaction of other business on such date in each year as may be determined by the Board of Directors, but in no event later than 100 days after the anniversary of the date of incorporation of the Corporation.

 

2. Special Meetings

 

Special meetings of the shareholders may be called by the Board of Directors, Chairman of the Board or President and shall be called by the Board upon written request of the holders of record of a majority of the outstanding shares of the Corporation entitled to vote at the meeting requested to be called. Such request shall state the purpose or purposes of the proposed meeting. At such special meetings the only business which may be transacted is that relating to the purpose or purposes set forth in the notice thereof.

 

3. Place of Meetings

 

Meetings of the shareholders shall be held at such place within or outside of the State of Nevada as may be fixed by the Board of Directors. If no place is fixed, such meetings shall be held at the principal office of the Corporation.

 

4. Notice of Meetings

 

Notice of each meeting of the shareholders shall be given in writing and shall state the place, date and hour of the meeting and the purpose or purposes for which the meeting is called. Notice of a special meeting shall indicate that it is being issued by or at the direction of the person or persons calling or requesting the meeting.

 

If, at any meeting, action is proposed to be taken which, if taken, would entitle objecting shareholders to receive payment for their shares, the notice shall include a statement of that purpose and to that effect. 

 

 
1
 
 

 

A copy of the notice of each meeting shall be given, personally or by first class mail, not less than ten nor more than sixty days before the date of the meeting, to each shareholder  entitled to  vote at such meeting. If mailed, such notice shall be deemed to have been given when deposited in the United States mail, with postage thereon paid, directed to the shareholder at his address as it appears on the record of the shareholders, or, if he shall have filed with the Secretary of the Corporation a written request that notices to him or her be mailed to some other address, then directed to him at such other address.

 

When a meeting is adjourned to another time or place, it shall not be necessary to give any notice of the adjourned meeting if the time and place to which the meeting is adjourned are announced at the meeting at which the adjournment is taken. At the adjourned meeting any business may be transacted that might have been transacted on the original date of the meeting. However, if after the adjournment the Board of Directors fixes a new record date for the adjourned meeting, a notice of the adjourned meeting shall be given to each shareholder of record on the new record date entitled to notice under this Section 4.

 

5. Waiver of Notice

 

Notice of a meeting need not be given to any shareholder who submits a signed waiver of notice, in person or by proxy, whether before or after the meeting. The attendance of any shareholder at a meeting, in person or by proxy, without protesting prior to the conclusion of the meeting the lack of notice of such meeting, shall constitute a waiver of notice by him or her.

 

6. Inspectors of Election

 

The Board of Directors, in advance of any shareholders’ meeting, may appoint one or more inspectors to act at the meeting or any adjournment thereof. If inspectors are not so appointed, the person presiding at a shareholders’ meeting may, and on the request of any shareholder entitled to vote thereat shall, appoint two inspectors. In case any person appointed fails to appear or act, the vacancy may be filled by appointment in advance of the meeting by the Board or at the meeting by the person presiding thereat. Each inspector, before entering upon the discharge of his duties, shall take and sign an oath faithfully to execute the duties of such inspector at such meeting with strict impartiality and according to the best of his ability.

 

The inspectors shall determine the number of shares outstanding and the voting power of each, the shares represented at the meeting, the existence of a quorum, and the validity and effect of proxies, and shall receive votes, ballots or consents, hear and determine all challenges and questions arising in connection with the right to vote at the meeting, count and tabulate all votes, ballots or consents, determine the result thereof, and do such acts as are proper to conduct the election or vote with fairness to all shareholders. On request of the person presiding at the meeting, or of any shareholder entitled to vote thereat, the inspectors shall make a report in writing of any challenge; question or matter determined by them and shall execute a certificate of any fact found by them. Any report or certificate made by them shall be prima facie evidence of the facts stated and of any vote certified by them.

 

7. List of Shareholders at Meetings

 

A list of the shareholders as of the record date, certified by the Secretary or any Assistant Secretary or by a transfer agent, shall be produced at any meeting of the shareholders upon the request thereat or prior thereto of any shareholder. If the right to vote at any meeting is challenged, the inspectors of election, or the person presiding thereat, shall require such list of the shareholders to be produced as evidence of the right of the persons challenged to vote at such meeting, and all persons who appear from such list to be shareholders entitled to vote thereat may vote at such meeting.

 

 
2
 
 

 

8. Qualification of Voters

 

Unless otherwise provided in the Certificate of Incorporation, every shareholder of record shall be entitled at every meeting of the shareholders to one vote for every share standing in its name on the record of the shareholders.

 

Treasury shares as of the record date and shares held as of the record date by another domestic or foreign corporation of any kind, if a majority of the shares entitled to vote in the election of directors of such other corporation is held as of the record date by the Corporation, shall not be shares entitled to vote or to be counted in determining the total number of outstanding shares.

 

Shares held by an administrator, executor, guardian, conservator, committee or other fiduciary, other than a trustee, may be voted by such fiduciary, either in person or by proxy, without the transfer of such shares into the name of such fiduciary. Shares held by a trustee may be voted by him or her, either in person or by proxy, only after the shares have been transferred into his name as trustee or into the name of his nominee.

 

Shares standing in the name of another domestic or foreign corporation of any type or kind may be voted by such officer, agent or proxy as the bylaws of such corporation may provide, or, in the absence of such provision, as the board of directors of such corporation may determine.

 

No shareholder shall sell his vote, or issue a proxy to vote, to any person for any sum of money or anything of value except as permitted by law.

 

9. Quorum of Shareholders

 

The holders of 5% or more of the shares of the Corporation issued and outstanding and entitled to vote at any meeting of the shareholders shall constitute a quorum at such meeting for the transaction of any business, provided that when a specified item of business is required to be voted on by a class or series, voting as a class, the holders of a majority of the shares of such class or series shall constitute a quorum for the transaction of such specified item of business.

 

When a quorum is once present to organize a meeting, it is not broken by the subsequent withdrawal of any shareholders.

 

The shareholders who are present in person or by proxy and who are entitled to vote may, by a majority of votes cast, adjourn the meeting despite the absence of a quorum.

 

10. Proxies

 

Every shareholder entitled to vote at a meeting of the shareholders, or to express consent or dissent without a meeting may authorize another person or persons to act for him by proxy.

 

 
3
 
 

 

Every proxy must be signed by the shareholder or its attorney. No proxy shall be valid after the expiration of eleven months from the date thereof unless otherwise provided in the proxy. Every proxy shall be revocable at the pleasure of the shareholder executing it, except as otherwise provided by law.

 

The authority of the holder of a proxy to act shall not be revoked by the incompetence or death of the shareholder who executed the proxy, unless before the authority is exercised written notice of adjudication of such incompetence or of such death is received by the Secretary or any Assistant Secretary.

 

11. Vote or Consent of Shareholders

 

Directors, except as otherwise required by law, shall be elected by a plurality of the votes cast at a meeting of shareholders by the holders of shares entitled to vote in the election.

 

Whenever any corporate action, other than the election of directors, is to be taken by vote of the shareholders, it shall, except as otherwise required by law, be authorized by a majority of the votes cast at a meeting of shareholders by the holders of shares entitled to vote thereon.

 

Whenever shareholders are required or permitted to take any action by vote, such action may be taken without a meeting on written consent, setting forth the action so taken, signed by the holders of all outstanding shares entitled to vote thereon. Written consent thus given by the holders of all outstanding shares entitled to vote shall have the same effect as a unanimous vote of shareholders.

 

12. Fixing the Record Date

 

For the purpose of determining the shareholders entitled to notice of or to vote at any meeting of shareholders or any adjournment thereof, or to express consent to or dissent from any proposal without a meeting, or for the purpose of determining shareholders entitled to receive payment of any dividend or the allotment of any rights, or for the purpose of any other action, the Board of Directors may fix, in advance, a date as the record date for any such determination of shareholders. Such date shall not be less than ten or more than sixty days before the date of such meeting, nor more than sixty days prior to any other action.

 

When a determination of shareholders of record entitled to notice of or to vote at any meeting of shareholders has been made as provided in this Section, such determination shall apply to any adjournment thereof, unless the Board of Directors fixes a new record date for the adjourned meeting.

 
 
4
 
 

 

ARTICLE II

 

BOARD OF DIRECTORS

 

1. Power of Board and Qualifications of Directors

 

The business of the Corporation shall be managed by the Board of Directors. Each director shall be at least eighteen years of age.

  

2. Number of Directors

 

The number of directors constituting the entire Board of Directors shall be the number, not less than one nor more than ten, fixed from time to time by a majority of the total number of directors which the Corporation would have, prior to any increase or decrease, if there were no vacancies, provided, however, that no decrease shall shorten the term of an incumbent director. Unless otherwise fixed by the directors, the number of directors constituting the entire Board shall be four.

 

3. Election and Term of Directors

 

At each annual meeting of shareholders, directors shall be elected to hold office until the next annual meeting and until their successors have been elected and qualified or until their death, resignation or removal in the manner hereinafter provided.

 

4. Quorum of Directors and Action by the Board

 

A majority of the entire Board of Directors shall constitute a quorum for the transaction of business, and, except where otherwise provided herein, the vote of a majority of the directors present at a meeting at the time of such vote, if a quorum is then present, shall be the act of the Board.

 

Any action required or permitted to be taken by the Board of Directors or any committee thereof may be taken without a meeting if all members of the Board or the committee consent in writing to the adoption of a resolution authorizing the action. The resolution and the written consent thereto by the members of the Board or committee shall be filed with the minutes of the proceedings of the Board or committee.

 

5. Meetings of the Board

 

An annual meeting of the Board of Directors shall be held in each year directly after the annual meeting of shareholders. Regular meetings of the Board shall be held at such times as may be fixed by the Board. Special meetings of the Board may be held at any time upon the call of the President or any two directors.

 

Meetings of the Board of Directors shall be held at such places as may be fixed by the Board for annual and regular meetings and in the notice of meeting for special meetings. If no place is fixed, meetings of the Board shall be held at the principal office of the Corporation. Any one or more members of the Board of Directors may participate in meetings by means of conference telephone or similar communications equipment.

 
 
5
 
 

 

No notice need be given of annual or regular meetings of the Board of Directors. Notice of each special meeting of the Board shall be given to each director either by mail not later than noon, Nevada time, on the third day prior to the meeting or by telegram, written message or orally not later than noon, Nevada time, on the day prior to the meeting. Notices are deemed to have been properly given if given: by mail, when deposited in the United States mail; by telegram at the time of filing; or by messenger at the time of delivery. Notices by mail, telegram or messenger shall be sent to each director at the address designated by him for that purpose, or, if none has been so designated, at his last known residence or business address. 

 

Notice of a meeting of the Board of Directors need not be given to any director who submits a signed waiver of notice whether before or after the meeting, or who attends the meeting without protesting, prior thereto or at its commencement, the lack of notice to any director.

 

A notice, or waive of notice, need not specify the purpose of any meeting of the Board of Directors.

 

A majority of the directors present, whether or not a quorum is present, may adjourn any meeting to another time and place. Notice of any adjournment of a meeting to another time or place shall be given, in the manner described above, to the directors who were not present at the time of the adjournment and, unless such time and place are announced at the meeting, to the other directors.

 

6. Resignations

 

Any director of the Corporation may resign at any time by giving written notice to the Board of Directors or to the President or to the Secretary of the Corporation. Such resignation shall take effect at the time specified therein; and unless otherwise specified therein the acceptance of such resignation shall not be necessary to make it effective.

 

7. Removal of Directors

 

Any one or more of the directors may be removed for cause by action of the Board of Directors. Any or all of the directors may be removed with or without cause by vote of the shareholders.

 

8. Newly Created Directorships and Vacancies

 

Newly created directorships resulting from an increase in the number of directors and vacancies occurring in the Board of Directors for any reason except the removal of directors by shareholders may be filled by vote of a majority of the directors then in office, although less than a quorum exists. Vacancies occurring as a result of the removal of directors by shareholders shall be filled by the shareholder. A director elected to fill a vacancy shall be elected to hold office for the unexpired term of his predecessor.

 
 
6
 
 

 

9. Executive and Other Committees of Directors

 

The Board of Directors, by resolution adopted by a majority of the entire Board, may designate from among its members an executive committee and other committees each of which, to the extent provided in the resolution, shall have all the authority of the Board, except that no such committee shall have authority as to the following matters: (a) the submission to shareholders of any action that needs shareholders’ approval; (b) the filling of vacancies in the Board or in any committee; (c) the fixing of compensation of the directors for serving on the Board or on any committee; (d) the amendment or repeal of the bylaws, or the adoption of new bylaws; (e) the amendment or repeal of any resolution of the Board which, by its term, shall not be so amendable or cannot be repealed; or (f) the removal or indemnification of directors.

  

The Board of Directors may designate one or more directors as alternate members of any such committee, who may replace any absent member or members at any meeting of such committee.

 

Unless a greater proportion is required by the resolution designating a committee, a majority of the entire authorized number of members of such committee shall constitute a quorum for the transaction of business, and the vote of a majority of the members present at a meeting at the time of such vote, if a quorum is then present, shall be the act of such committee.

 

 

Each such committee shall serve at the pleasure of the Board of Directors.

 

10. Compensation of Directors

 

The Board of Directors shall have authority to fix the compensation of directors for services in any capacity.

 

11. Interest of Directors in a Transaction

 

Unless shown to be unfair and unreasonable as to the Corporation, no contract or other transaction between the Corporation and one or more of its directors, or between the Corporation and any other corporation, firm, association or other entity in which one or more of the directors are directors or officers, or are financially interested, shall be either void or voidable, irrespective of whether such interested director or directors are present at a meeting of the Board of Directors, or of a committee thereof, which authorizes such contract or transaction and irrespective of whether his or their votes are counted for such purpose. In the absence of fraud any such contract and transaction conclusively may be authorized or approved as fair and reasonable by: (a) the Board of Directors or a duly empowered committee thereof, by a vote sufficient for such purpose without counting the vote or votes of such interested director or directors (although such interested director or directors may be counted in determining the presence of a quorum at the meeting which authorizes such contract or transaction), if the fact of such common directorship, officership or financial interest is disclosed or known to the Board or committee, as the case may be; or (b) the shareholders entitled to vote for the election of directors, if such common directorship, officership or financial interest is disclosed or known to such shareholders.

 

Notwithstanding the foregoing, no loan, except advances in connection with indemnification, shall be made by the Corporation to any director unless it is authorized by vote of the shareholders without counting any shares of the director who would be the borrower or unless the director who would be the borrower is the sole shareholder of the Corporation.

 

 
7
 
 

  

ARTICLE III

 

OFFICERS

 

1. Election of Officers

 

The Board of Directors, as soon as may be practicable after the annual election of directors, shall elect a President, a Secretary, and a Treasurer, and from time to time may elect or appoint such other officers as it may determine. Any two or more offices may be held by the same person. The Board of Directors may also elect one or more Vice Presidents, Assistant Secretaries and Assistant Treasurers.

 

2. Other Officers

 

The Board of Directors may appoint such other officers and agents as it shall deem necessary that shall hold their offices for such terms and shall exercise such powers and perform such duties as shall be determined from time to time by the Board.

 

3. Compensation

 

The salaries of all officers and agents of the Corporations shall be fixed by the Board of Directors.

 

4. Term of Office and Removal

 

Each officer shall hold office for the term for which he is elected or appointed and until his successor has been elected or appointed and qualified. Unless otherwise provided in the resolution of the Board of Directors electing or appointing an officer, his term of office shall extend to and expire at the meeting of the Board following the next annual meeting of shareholders. Any officer may be removed by the Board with or without cause, at any time. Removal of an officer without cause shall be without prejudice to his contract rights, if any, and the election or appointment of an officer shall not of itself create contract rights.

 

5. President

 

The President shall be the chief executive officer of the Corporation, shall have general and active management of the business of the Corporation and shall see that all orders and resolutions of the Board of Directors are carried into effect. The President shall also preside at all meeting of the shareholders and the Board of Directors.

 

The President shall execute bonds, mortgages and other contracts requiring a seal, under the seal of the Corporation, except where required or permitted by law to be otherwise signed and executed and except where the signing and execution thereof shall be expressly delegated by the Board of Directors to some other officer or agent of the Corporation.

 

 
8
 
 

  

6. Vice Presidents

 

The Vice Presidents, in the order designated by the Board of Directors, or in absence of any designation, then in the order of their election, during the absence or disability of or refusal to act by the President, shall perform the duties and exercise the powers of the President and shall perform such other duties as the Board of Directors shall prescribe.

  

7. Secretary and Assistant Secretaries

 

The Secretary shall attend all meetings of the Board of Directors and all meetings of the shareholders and record all the proceedings of the meetings of the Corporation and of the Board of Directors in a book to be kept for that purpose, and shall perform like duties for the standing committees when required. The Secretary shall give or cause to be given, notice of all meetings of the shareholders and special meetings of the Board of Directors, and shall perform such other duties as may be described by the Board of Directors or President, under whose supervision the Secretary shall be. The Secretary shall have custody of the corporate seal of the Corporation and the Secretary, or an Assistant Secretary shall have authority to affix the same to any instrument requiring it and when so affixed, it may be attested by the Secretary’s signature or by signature of such Assistant Secretary. The Board of Directors may give general authority to any other officer to affix the seal of the Corporation and to attest the affixing by his signature.

 

The Assistant Secretary, or if there be more than one, the Assistant Secretaries in the order designated by the Board of Directors, or in the absence of such designation then in the order of their election, in the absence of the Secretary or in the event of the Secretary’s inability or refusal to act, shall perform the duties and exercise the powers of the Secretary and shall perform such other duties and have such other powers as the Board of Directors may from time to time prescribe.

 

8. Treasurer and Assistant Treasurers

 

The Treasurer shall have the custody of the corporate funds and securities; shall keep full and accurate accounts of receipts and disbursements in books belonging to the Corporation; and shall deposit all moneys and other valuable effects in the name and to the credit of the Corporation in such depositories as may be designated by the Board of Directors.

 

The Treasurer shall disburse the funds as may be ordered by the Board of Directors, taking proper vouchers for such disbursements, and shall render to the President and the Board of Directors, at its regular meetings, or when the Board of Directors so requires, an account of all his transactions as Treasurer and of the financial condition of the Corporation.

 

If required by the Board of Directors, the Treasurer shall give the Corporation a bond in such sum and with such surety or sureties as shall be satisfactory to the Board of Directors for the faithful performance of the duties of the office of Treasurer, and for the restoration to the Corporation, in the case of the Treasurer’s death, resignation, retirement or removal from office, of all books, papers, vouchers, money and other property of whatever kind in the possession or under the control of the Treasurer belonging to the Corporation.

 

The Assistant Treasurer, or if there shall be more than one, the Assistant Treasurers in the order designated by the Board of Directors, or in the absence of such designation, then in the order of their election, in the absence of the Treasurer or in the event the Treasurer’s inability or refusal to act, shall perform the duties and exercise the powers of the Treasurer and shall perform such other duties and have such other powers as the Board of Directors may from time to time prescribe.

 
9
 
 

  

9. Books and Records

 

The Corporation shall keep: (a) correct and complete books and records of account; (b) minutes of the proceedings of the shareholders, Board of Directors and any committees of directors; and (c) a current list of the directors and officers and their residence addresses. The Corporation shall also keep at its office in the State of Nevada or at the office of its transfer agent or registrar in the State of Nevada, if any, a record containing the names and addresses of all shareholders, the number and class of shares held by each and the dates when they respectively became the owners of record thereof.

 

The Board of Directors may determine whether and to what extent and at what times and places and under what conditions and regulations any accounts, books, records or other documents of the Corporation shall be open to inspection, and no creditor, security holder or other person shall have any right to inspect any accounts, books, records or other documents of the Corporation except as conferred by statute or as so authorized by the Board.

 

10. Checks, Notes, etc.

 

All checks and drafts on, and withdrawals from the Corporation’s accounts with banks or other financial institutions, and all bills of exchange, notes and other instruments for the payment of money, drawn, made, endorsed, or accepted by the Corporation, shall be signed on its behalf by the person or persons thereunto authorized by, or pursuant to resolution of, the Board of Directors.

 
 
10
 
 

 

ARTICLE IV

 

CERTIFICATES AND TRANSFER OF SHARES

 

1. Forms of Share Certificates

 

The share of the Corporation shall be represented by certificates, in such forms as the Board of Directors may prescribe, signed by the President or a Vice President and the Secretary or an Assistant Secretary or the Treasurer or an Assistant Treasurer. The shares may be sealed with the seal of the Corporation or a facsimile thereof. The signatures of the officers upon a certificate may be facsimiles if the certificate is countersigned by a transfer agent or registered by a registrar other than the Corporation or its employee. In case any officer who has signed or whose facsimile signature has been placed upon a certificate shall have ceased to be such officer before such certificate is issued, it may be issued by the Corporation with the same effect as if he were such officer at the date of issue.

 

Each certificate representing shares issued by the Corporation shall set forth upon the face or back of the certificate, or shall state that the Corporation will furnish to any shareholder upon request and without charge, a full statement of the designation, relative rights, preferences and limitations of the shares of each class of shares, if more than one, authorized to be issued and the designation, relative rights, preferences and limitations of each series of any class of preferred shares authorized to be issued so far as the same have been fixed, and the authority of the Board of Directors to designate and fix the relative rights, preferences and limitations of other series.

 

Each certificate representing shares shall state upon the face thereof: (a) that the Corporation is formed under the laws of the State of Nevada; (b) the name of the person or persons to whom issued; and (c) the number and class of shares, and the designation of the series, if any, which certificate represents.

 

2. Transfers of Shares

 

No share or other security may be sold, transferred or otherwise disposed of without the consent of the directors or until the Company is a reporting issuer, as defined under the Securities Exchange Act of 1934. The directors are not required to give any reason for refusing to consent to any such sale, transfer or other disposition.

 

Shares of the Corporation shall be transferable on the record of shareholders upon presentment to the Corporation of a transfer agent of a certificate or certificates representing the shares requested to be transferred, with proper endorsement on the certificate or on a separate accompanying document, together with such evidence of the payment of transfer taxes and compliance with other provisions of law as the Corporation or its transfer agent may require.

 

3. Lost, Stolen or Destroyed Share Certificates

 

No certificate for shares of the Corporation shall be issued in place of any certificate alleged to have been lost, destroyed or wrongfully taken, except, if and to the extent required by the Board of Directors upon: (a) production of evidence of loss, destruction or wrongful taking; (b) delivery of a bond indemnifying the Corporation and its agents against any claim that may be made against it or them on account of the alleged loss, destruction or wrongful taking of the replaced certificate or the issuance of the new certificate; (c) payment of the expenses of the Corporation and its agents incurred in connection with the issuance of the new certificate; and (d) compliance with other such reasonable requirements as may be imposed.

 
 
11
 
 

 

ARTICLE V

 

OTHER MATTERS

 

1. Corporate Seal

 

The Board of Directors may adopt a corporate seal, alter such seal at pleasure, and authorize it to be used by causing it or a facsimile to be affixed or impressed or reproduced in any other manner.

 

2. Fiscal Year

 

The fiscal year of the Corporation shall be the twelve months ending September 30th, or such other period as may be fixed by the Board of Directors.

 

3. Amendments

 

Bylaws of the Corporation may be adopted, amended or repealed by vote of the holders of the shares at the time entitled to vote in the election of any directors. Bylaws may also be adopted, amended or repealed by the Board of Directors, but any bylaws adopted by the Board may be amended or repealed by the shareholders entitled to vote thereon as herein above provided.

 

If any bylaw regulating an impending election of directors is adopted, amended or repealed by the Board of Directors, there shall be set forth in the notice of the next meeting of shareholders for the election of directors the bylaw so adopted, amended or repealed, together with a concise statement of the changes made.

 

APPROVED AND ADOPTED this August 2, 2018.

 

       
/s/ Michael Nahass

 

 

Michael Nahass  
    Secretary  
       

 

 
12

 

EX-31.1 3 trtc_ex311.htm CERTIFICATION trtc_ex311.htm

EXHIBIT 31.1

 

Certifications pursuant to Securities and Exchange Act of 1934

Rule 13a-14 as adopted pursuant to Section 302 of Sarbanes-Oxley Act of 2002

 

I, Derek Peterson, certify that:

 

1.

I have reviewed this Quarterly Report on Form 10-Q of the Terra Tech Corp. (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 Rule 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) 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

 

5.

The Registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

 

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: August 9, 2018

By:

/s/ Derek Peterson

Derek Peterson

Chief Executive Officer and Chairman of the Board

 

EX-31.2 4 trtc_ex312.htm CERTIFICATION trtc_ex312.htm

EXHIBIT 31.2

 

Certifications pursuant to Securities and Exchange Act of 1934

Rule 13a-14 as adopted pursuant to Section 302 of Sarbanes-Oxley Act of 2002

 

I, Michael C. James, certify that:

 

1.

I have reviewed this Quarterly Report on Form 10-Q of Terra Tech Corp. (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 Rule 13a-15(e) and 15d – 15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f) 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

 

5.

The Registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the Registrant’s auditors and the audit committee of the Registrant’s board of directors (or persons performing the equivalent functions):

 

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: August 9, 2018

By:

/s/ Michael C. James

Michael C. James

Chief Financial Officer

 

EX-32.1 5 trtc_ex321.htm CERTIFICATION trtc_ex321.htm

EXHIBIT 32.1

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Terra Tech Corp. (the “Company”) on Form 10-Q for the quarter ended June 30, 2018 (the “Form 10-Q”), I, Derek Peterson, Chief Executive Officer of the Company, certify, as of the date hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, that the Company’s Form 10-Q fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in the Form 10-Q, fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

Date: August 9, 2018

By:

/s/ Derek Peterson

Derek Peterson

Chief Executive Officer and Chairman of the Board

 

EX-32.2 6 trtc_ex322.htm CERTIFICATION trtc_ex322.htm

EXHIBIT 32.2

 

CERTIFICATION PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the Quarterly Report of Terra Tech Corp. (the “Company”) on Form 10-Q for the quarter ended June 30, 2018 (the “Form 10-Q”), I, Michael C. James, Chief Financial Officer of the Company, certify, as of the date hereof, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that to the best of my knowledge, that the Company’s Form 10-Q fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934 and that the information contained in the Form 10-Q, fairly presents, in all material respects, the financial condition and results of operations of the Company.

 

 

Date: August 9, 2018

By:

/s/ Michael C. James

Michael C. James

Chief Financial Officer

 

EX-101.INS 7 trtc-20180630.xml XBRL INSTANCE DOCUMENT 0001451512 2018-01-01 2018-06-30 0001451512 2017-12-31 0001451512 TRTC:ConvertibleSeriesAPreferredStockMember 2017-12-31 0001451512 TRTC:ConvertibleSeriesBPreferredStockMember 2017-12-31 0001451512 TRTC:ConvertibleSeriesAPreferredStockMember 2018-06-30 0001451512 TRTC:ConvertibleSeriesBPreferredStockMember 2018-06-30 0001451512 us-gaap:FairValueInputsLevel1Member 2017-12-31 0001451512 us-gaap:FairValueInputsLevel2Member 2017-12-31 0001451512 us-gaap:FairValueInputsLevel3Member 2017-12-31 0001451512 TRTC:HerbsAndProduceProductsMember 2017-04-01 2017-06-30 0001451512 TRTC:CannabisDispensaryCultivationAndProductionMember 2017-04-01 2017-06-30 0001451512 TRTC:EliminationsAndOtherMember 2017-04-01 2017-06-30 0001451512 TRTC:SegmentInformationMember 2017-04-01 2017-06-30 0001451512 2018-08-06 0001451512 us-gaap:LandMember 2017-12-31 0001451512 us-gaap:FurnitureAndFixturesMember 2017-12-31 0001451512 us-gaap:ComputerEquipmentMember 2017-12-31 0001451512 us-gaap:LeaseholdImprovementsMember 2017-12-31 0001451512 us-gaap:ConstructionInProgressMember 2017-12-31 0001451512 TRTC:ConvertiblePromissoryNoteMember 2017-12-31 0001451512 TRTC:ConvertiblePromissoryNoteOneMember 2017-12-31 0001451512 TRTC:PromissoryNoteTwoMember 2017-12-31 0001451512 TRTC:ConvertiblePromissoryNoteOneMember 2017-12-26 0001451512 us-gaap:FairValueInputsLevel1Member 2018-06-30 0001451512 us-gaap:FairValueInputsLevel2Member 2018-06-30 0001451512 us-gaap:FairValueInputsLevel3Member 2018-06-30 0001451512 TRTC:HerbsAndProduceProductsMember 2017-01-01 2017-06-30 0001451512 TRTC:CannabisDispensaryCultivationAndProductionMember 2017-01-01 2017-06-30 0001451512 TRTC:EliminationsAndOtherMember 2017-01-01 2017-06-30 0001451512 TRTC:SegmentInformationMember 2017-01-01 2017-06-30 0001451512 2018-03-31 0001451512 TRTC:ConvertiblePromissoryNoteMember 2017-08-21 0001451512 us-gaap:MinimumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:MonteCarloSimulationMember 2018-06-30 0001451512 us-gaap:MaximumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:MonteCarloSimulationMember 2018-06-30 0001451512 2017-04-01 2017-06-30 0001451512 2017-06-30 0001451512 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2017-12-31 0001451512 TRTC:NuLeafMember 2017-10-26 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:MasterSecuritiesPurchaseAgreementMember 2017-12-31 0001451512 us-gaap:MinimumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:MonteCarloSimulationMember 2018-01-01 2018-06-30 0001451512 us-gaap:MaximumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:MonteCarloSimulationMember 2018-01-01 2018-06-30 0001451512 us-gaap:WarrantMember 2017-12-31 0001451512 TRTC:PromissoryNoteMember us-gaap:CaliforniaFranchiseTaxBoardMember TRTC:ThirdPartyCreditorMember 2018-01-18 0001451512 TRTC:PromissoryNoteMember 2017-11-01 2017-11-22 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:MasterSecuritiesPurchaseAgreementMember 2017-01-01 2017-12-31 0001451512 2016-12-31 0001451512 us-gaap:WarrantMember 2018-01-01 2018-03-31 0001451512 us-gaap:WarrantMember 2018-03-31 0001451512 2018-03-01 2018-03-12 0001451512 us-gaap:LandMember 2018-06-30 0001451512 us-gaap:FurnitureAndFixturesMember 2018-06-30 0001451512 us-gaap:ComputerEquipmentMember 2018-06-30 0001451512 us-gaap:LeaseholdImprovementsMember 2018-06-30 0001451512 us-gaap:ConstructionInProgressMember 2018-06-30 0001451512 TRTC:ConvertiblePromissoryNoteMember 2018-06-30 0001451512 TRTC:ConvertiblePromissoryNoteOneMember 2018-06-30 0001451512 TRTC:PromissoryNoteTwoMember 2018-06-30 0001451512 TRTC:ConvertiblePromissoryNoteOneMember us-gaap:MinimumMember 2018-01-18 0001451512 TRTC:ConvertiblePromissoryNoteOneMember us-gaap:MaximumMember 2018-01-18 0001451512 TRTC:ConvertiblePromissoryNoteOneMember 2018-01-01 2018-01-18 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:MasterSecuritiesPurchaseAgreementMember 2018-01-31 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:MasterSecuritiesPurchaseAgreementMember 2018-01-01 2018-01-31 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:TwentyThousandEighteenMasterSecuritiesPurchaseAgreementMember 2018-06-30 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:TwentyThousandEighteenMasterSecuritiesPurchaseAgreementMember 2018-01-01 2018-06-30 0001451512 TRTC:ConvertiblePromissoryNoteOneMember 2017-12-01 2017-12-26 0001451512 TRTC:ConvertiblePromissoryNoteMember 2017-08-01 2017-08-21 0001451512 us-gaap:MinimumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:BlackScholesMertonOptionPricingModelMember 2018-06-30 0001451512 us-gaap:MaximumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:BlackScholesMertonOptionPricingModelMember 2018-06-30 0001451512 us-gaap:MinimumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:BlackScholesMertonOptionPricingModelMember 2018-01-01 2018-06-30 0001451512 us-gaap:MaximumMember us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:BlackScholesMertonOptionPricingModelMember 2018-01-01 2018-06-30 0001451512 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:BlackScholesMertonOptionPricingModelMember 2018-01-01 2018-06-30 0001451512 TRTC:TechCenterDriveMember 2018-01-01 2018-03-31 0001451512 TRTC:AccreditedInvestorMember 2018-01-01 2018-06-30 0001451512 TRTC:SeniorSecuredConvertiblePromissoryNotesMember 2018-01-01 2018-06-30 0001451512 us-gaap:MinimumMember 2018-01-01 2018-06-30 0001451512 us-gaap:MaximumMember 2018-01-01 2018-06-30 0001451512 TRTC:PromissoryNoteOneMember 2017-12-31 0001451512 TRTC:ConvertiblePromissoryNoteTwoMember 2017-12-31 0001451512 TRTC:PromissoryNoteOneMember 2018-06-30 0001451512 TRTC:ConvertiblePromissoryNoteTwoMember 2018-06-30 0001451512 TRTC:PromissoryNoteMember us-gaap:CaliforniaFranchiseTaxBoardMember TRTC:ThirdPartyCreditorMember 2018-01-01 2018-01-18 0001451512 us-gaap:SubsequentEventMember TRTC:MediFarmLLCMember 2018-07-06 0001451512 us-gaap:VariableInterestEntityPrimaryBeneficiaryMember 2018-06-30 0001451512 TRTC:NuLeafMember 2017-10-01 2017-10-26 0001451512 2018-06-30 0001451512 2017-01-01 2017-06-30 0001451512 2018-04-01 2018-06-30 0001451512 TRTC:ConvertiblePromissoryNoteTwoMember 2018-06-07 0001451512 TRTC:ConvertiblePromissoryNoteTwoMember 2018-06-01 2018-06-07 0001451512 us-gaap:FairValueInputsLevel3Member 2018-01-01 2018-06-30 0001451512 TRTC:EquityIncentivePlanMember 2018-06-30 0001451512 us-gaap:StockOptionMember 2018-04-01 2018-06-30 0001451512 TRTC:StockGrantsMember 2018-04-01 2018-06-30 0001451512 TRTC:StockGrantsOneMember 2018-04-01 2018-06-30 0001451512 TRTC:StockGrantsTwoMember 2018-04-01 2018-06-30 0001451512 TRTC:StockGrantsThreeMember 2018-04-01 2018-06-30 0001451512 TRTC:StockGrantsMember 2017-04-01 2017-06-30 0001451512 TRTC:StockGrantsOneMember 2017-04-01 2017-06-30 0001451512 TRTC:StockGrantsTwoMember 2017-04-01 2017-06-30 0001451512 us-gaap:StockOptionMember 2017-04-01 2017-06-30 0001451512 TRTC:StockGrantsThreeMember 2017-04-01 2017-06-30 0001451512 us-gaap:StockOptionMember 2018-01-01 2018-06-30 0001451512 TRTC:StockGrantsMember 2018-01-01 2018-06-30 0001451512 TRTC:StockGrantsOneMember 2018-01-01 2018-06-30 0001451512 TRTC:StockGrantsThreeMember 2018-01-01 2018-06-30 0001451512 us-gaap:StockOptionMember 2017-01-01 2017-06-30 0001451512 TRTC:StockGrantsMember 2017-01-01 2017-06-30 0001451512 TRTC:StockGrantsOneMember 2017-01-01 2017-06-30 0001451512 TRTC:StockGrantsTwoMember 2017-01-01 2017-06-30 0001451512 TRTC:StockGrantsTwoMember 2018-01-01 2018-06-30 0001451512 TRTC:StockGrantsThreeMember 2017-01-01 2017-06-30 0001451512 us-gaap:WarrantMember 2018-04-01 2018-06-30 0001451512 us-gaap:WarrantMember 2018-06-30 0001451512 2018-01-01 2018-03-31 0001451512 us-gaap:WarrantMember 2018-01-01 2018-06-30 0001451512 us-gaap:WarrantMember 2017-01-01 2017-06-30 0001451512 us-gaap:WarrantMember 2017-06-30 0001451512 TRTC:HerbsAndProduceProductsMember 2018-04-01 2018-06-30 0001451512 TRTC:CannabisDispensaryCultivationAndProductionMember 2018-04-01 2018-06-30 0001451512 TRTC:EliminationsAndOtherMember 2018-04-01 2018-06-30 0001451512 TRTC:SegmentInformationMember 2018-04-01 2018-06-30 0001451512 TRTC:HerbsAndProduceProductsMember 2018-01-01 2018-06-30 0001451512 TRTC:CannabisDispensaryCultivationAndProductionMember 2018-01-01 2018-06-30 0001451512 TRTC:EliminationsAndOtherMember 2018-01-01 2018-06-30 0001451512 TRTC:SegmentInformationMember 2018-01-01 2018-06-30 0001451512 us-gaap:SubsequentEventMember TRTC:AccreditedInvestorMember TRTC:SecuritiesPurchaseAgreementMember 2018-07-01 2018-07-25 0001451512 us-gaap:SubsequentEventMember TRTC:AccreditedInvestorMember TRTC:SecuritiesPurchaseAgreementMember 2018-07-25 0001451512 us-gaap:SubsequentEventMember TRTC:DirectorsAndExecutivesMember 2018-07-01 2018-07-31 0001451512 TRTC:MonteCarloMember 2018-01-01 2018-06-30 0001451512 us-gaap:DerivativeFinancialInstrumentsLiabilitiesMember TRTC:MonteCarloSimulationMember 2018-01-01 2018-06-30 0001451512 TRTC:PromissoryNoteMember us-gaap:MinimumMember 2017-11-22 0001451512 TRTC:PromissoryNoteMember us-gaap:MaximumMember 2017-11-22 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:TwentyThousandEighteenMasterSecuritiesPurchaseAgreementMember 2018-03-31 0001451512 TRTC:FiveConvertiblePromissoryNoteMember TRTC:TwentyThousandEighteenMasterSecuritiesPurchaseAgreementMember 2018-01-01 2018-03-31 0001451512 TRTC:ConvertiblepromissorynotesMember us-gaap:SubsequentEventMember TRTC:MasterSecuritiesPurchaseAgreementMember 2018-07-25 0001451512 TRTC:ConvertiblepromissorynotesMember us-gaap:SubsequentEventMember TRTC:MasterSecuritiesPurchaseAgreementMember 2018-07-01 2018-07-25 0001451512 TRTC:ConvertiblepromissorynotesMember us-gaap:SubsequentEventMember TRTC:TwentyThousandEighteenMasterSecuritiesPurchaseAgreementMember 2018-06-01 2018-06-30 iso4217:USD xbrli:shares iso4217:USD xbrli:shares xbrli:pure Terra Tech Corp. 0001451512 10-Q 2018-06-30 false --12-31 No No Yes Accelerated Filer 2018 72189614 17333543 1777067 6049319 16487 7842873 2694210 11936357 36762 14667329 7842873 14667329 8718177 1502789 7203971 11417 8718177 2786690 14518525 28328 17333543 13477680 1325729 5010771 6336500 2295544 10506349 12801893 6336500 12801893 6509754 958694 5551060 6509754 2221811 11255869 13477680 -12569055 -404661 -1171927 -2946326 -4522914 -1116396 -3407472 -6026283 -10550151 -4522914 -10550151 -5793947 -450811 -1170613 -4172523 -5793947 -1372394 -3564575 -7632086 -12569055 16424918 855999 2210475 2962813 6029287 1515062 4837480 6063045 12415587 6029287 12415587 8002370 994906 2823524 4183940 8002370 1937273 6827231 7660414 16424918 -8707403 4914285 -1298101 3616184 565524 -1495258 -929734 3616184 -929734 -5529219 -5529219 -5529219 -397 -8707006 -8707403 591000 130510 130510 288343 288343 130510 288343 331379 331379 331379 397 590603 591000 -987200 -987200 -2597950 -2597950 1653000 1653000 -628000 -628000 885680 515654 515654 1126270 1126270 515654 1126270 417363 417363 417363 885680 885680 100 49999900 100 49999900 8 0 8 0 8 0 8 0 9331400 9331400 1891400 1891400 0.001 0.001 990000000 990000000 61818560 70852978 61818560 70852978 0.001 0.001 0.001 0.001 5760019 232231 582657 3840773 959698 224259 1210446 5445582 409029 251508 5153608 98187799 2908549 3044022 109791013 28921260 28921260 27773110 26696348 19191616 1965103 1890709 34940408 18243131 943446 1153313 18354899 14776110 5968373 5444710 319853 269843 4076973 21385508 319853 269843 18779776 6609398 12811403 98187799 109791013 931359 1109037 -105548602 -127008525 181357715 216839872 61819 70853 4058682 878098 3855863 451338 1038548 16487 1506373 398666 1430008 36762 1865436 1506373 1865436 2208423 544095 1652911 11417 2208423 564879 3262656 28328 3855863 -7858723 -1639137 -2678595 -3127477 -21276458 -906730 -11479885 -11323166 77286 4426047 75870932 89902200 9331400 9331400 1891400 1891400 628000 987200 2597950 -1653000 628000 1067689 302186 94889 1086989 954698 205019 123727 591359 221973 104499 211534 2147499 1778782 -1174458 1383860 -120191 -166925 -572072 -533808 250748 36279 -9873393 -7150583 1879923 -1323742 552992 1356138 Q2 5010143 6158731 -8459275 -1036233 7447564 1036233 1011711 -5787 86550 3650000 3750000 645000 -150000 -150000 -195000 180000 -150000 15000000 6000000 18075213 7568550 5445582 9131306 9749572 5153608 -257455 -618266 29926761 8564324 8760000 4446000 8760000 6500000 76000 76802291 91011237 2.16 2.88 2.16 6.90 2.16 3.45 4.94 1.92 2.29 1.92 6.60 -15572000 P1Y5M8D P1Y6M P0Y7M28D P2Y5M1D P5Y P5Y 0.9450 0.9500 0.6236 1.0343 1.1890 1.3354 0.0241 0.0247 0.0177 0.0252 0.0250 0.0153 -117831 351072 3500000 <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font-size: 10pt"><b>June 30,</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>December 31,</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Deferred Income Tax Assets:</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Net Operating Losses</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">10,426,088</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">8,023,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">10,426,088</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">8,023,000</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Deferred Income Tax Liabilities:</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Depreciation</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(926,286</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(850,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Total</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,499,802</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,173,000</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Valuation Allowance</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(9,499,802</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(7,173,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Net Deferred Tax&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font-size: 10pt"><b>Awards Reserved for Issuance</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Awards Issued</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>Awards Available for Grant</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">2016 Equity Incentive Plan</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">30,000,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">2,044,399</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">27,955,601</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Number of Shares&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Weighted-Average Exercise Price Per Share&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Weighted-Average Remaining Contractual Life&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Aggregate Intrinsic Value of In-the-Money Options&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="12" style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Options Outstanding as of Janury 1, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,177,732</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.17</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Granted</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">800,000</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4.41</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Exercised</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Forfeited</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Expired</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 63%; text-align: justify"><font style="font-size: 10pt"><b>Options Outstanding as of March 31, 2018</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,977,732</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">3.08</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font-size: 10pt"><b>&#160;9.1 Years&#160;</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">522,600</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Options Exercisable as of Mach 31, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">659,774</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.20</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font-size: 10pt"><b>&#160;8.5 Years&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">391,950</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Granted</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">66,667</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3.75</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Exercised</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Forfeited</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font-size: 10pt">Options Expired</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Options Outstanding as of June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,044,399</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3.10</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font-size: 10pt"><b>&#160;8.89 Years&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">361,800</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Options Exercisable as of June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">828,941</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.38</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font-size: 10pt"><b>&#160;8.42 Years&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">301,500</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>June 2018</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Expected Term (years)</font></td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="text-align: right"><font style="font-size: 10pt">6.5 Years</font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font-size: 10pt">Volatility</font></td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="text-align: right"><font style="font-size: 10pt">126.93-128.0%</font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font-size: 10pt">Risk-Free Interest Rate</font></td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="text-align: right"><font style="font-size: 10pt">2.5-2.8%</font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Dividend Yield</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">0%</font></td> <td style="vertical-align: bottom; width: 1%">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="14" id="hdcell" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>For the Three Months Ended</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30, 2018</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30, 2017</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Type of Award&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td>&#160;</td> <td id="ffcell" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 52%; text-align: justify"><font style="font-size: 10pt">Stock Options</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">66,667</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">480,500</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">550,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">157,430</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Stock Grants:</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Employees (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">91,888</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">264,542</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">102,385</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">294,632</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Employees (Series B Preferred Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Directors (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">72,728</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">184,473</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Non&#8211;Employee Consultants (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">37,872</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">107,037</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">159,424</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">446,348</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Total Stock&#8211;Based Compensation Expense</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">852,079</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,082,883</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>For the Six Months Ended</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30, 2018</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>June 30, 2017</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Type of Award&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td>&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 52%; text-align: justify"><font style="font-size: 10pt">Stock Options</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">866,667</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">954,698</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">550,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">205,019</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Stock Grants:</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Employees (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">173,394</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">552,992</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">109,052</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">320,732</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Employees (Series B Preferred Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">40,000</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,035,406</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Directors (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">81,061</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">221,973</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Non&#8211;Employee Consultants (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">44,282</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">123,727</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">190,600</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">591,359</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Total Stock&#8211;Based Compensation Expense</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,631,417</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,374,489</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Shares</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Weighted-Average Exercise Price</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Warrants Outstanding as of January 1, 2018</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,191,367</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">2.85</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Warrants Exercised</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(283,697</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.17</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Warrants Granted</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">114,636</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4.05</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Warrants Expired</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Warrants Outstanding as of March 31, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,022,306</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3.80</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Warrants Exercised</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(27,800</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">0.90</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Warrants Granted</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">51,026</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.94</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Warrants Expired</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(26,710</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3.09</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Warrants Outstanding as of June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify">&#160;</td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,018,822</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3.25</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="vertical-align: bottom; text-align: center"><font style="font-size: 10pt"><b>June 30,</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: center">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: center"><font style="font-size: 10pt"><b>June 30,</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: center">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: center">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: center">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 71%; text-align: justify"><font style="font-size: 10pt">Stock Price on Date of Grant</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">3.45</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: right">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">4.94</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: right">&#160;</td> <td style="width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Exercise Price</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3.71</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.64</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Volatility</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">118.90</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">%</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">133.54</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">%</font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Term</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5.00</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">Yrs</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5.00</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">Yrs</font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2.50</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">%</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1.53</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">%</font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Expected Dividend Rate</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">0</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">%</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">0</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="text-align: justify"><font style="font-size: 10pt">%</font></td> <td style="text-align: justify">&#160;</td></tr> </table> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="14" id="hdcell" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>For the Three Months Ended June 30, 2018</b></font><br /> <font style="font-size: 10pt"><b>(Unaudited)</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Total&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,502,789</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">7,203,971</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">11,417</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">8,718,177</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">958,694</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,551,060</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,509,754</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">544,095</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,652,911</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">11,417</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,208,423</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">994,906</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,823,524</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,183,940</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">8,002,370</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(450,811</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,170,613</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(4,172,523</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(5,793,947</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(417,363</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(417,363</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,127,477</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,127,477</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Loss on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,653,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,653,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(331,379</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(331,379</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(5,529,219</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(5,529,219</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Net Loss</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(450,811</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,170,613</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(9,701,742</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(11,323,166</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Assets at June 30, 2018</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,320,906</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">71,591,669</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">31,878,438</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">109,791,013</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160; &#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>For the Three Months Ended June 30, 2017</b></font><br /> <font style="font-size: 10pt"><b>(Unaudited)</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Total&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">1,777,067</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">6,049,319</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">16,487</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">7,842,873</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,325,729</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">5,010,771</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,336,500</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">451,338</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,038,548</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">16,487</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,506,373</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">855,999</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,210,475</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,962,813</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,029,287</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="text-align: justify"><font style="font-size: 10pt">.</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(404,661</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,171,927</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(2,946,326</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(4,522,914</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(515,654</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(515,654</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,639,137</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,639,137</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Gain on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">987,200</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">987,200</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(130,510</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(130,510</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Loss on Fair Market Valuation of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(77,286</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(77,286</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Gain on Settlement of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,914,285</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,298,101</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,616,184</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Net Income (Loss)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(404,661</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,742,358</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(4,244,427</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(906,730</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Assets at June 30, 2017</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,104,469</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">60,224,138</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,550,062</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">76,878,669</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>For the Six Months Ended June 30, 2018 (Unaudited)</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Total&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">2,786,690</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">14,518,525</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">28,328</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">17,333,543</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,221,811</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">11,255,869</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">13,477,680</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">564,879</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,262,656</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">28,328</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,855,863</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,937,273</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,827,231</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,660,414</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">16,424,918</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,372,394</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,564,575</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(7,632,086</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(12,569,055</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(885,680</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(885,680</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(7,858,723</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(7,858,723</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Gain on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">628,000</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">628,000</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(397</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(590,603</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(591,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(397</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(8,707,006</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(8,707,403</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Net Loss</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,372,394</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,564,972</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(16,339,092</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(21,276,458</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Assets at June 30, 2018</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,320,906</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">71,591,669</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">31,878,438</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">109,791,013</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;&#160;</p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>For the Six Months Ended June 30, 2017 (Unaudited)</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>Total&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">2,694,210</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">11,936,357</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">36,762</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">14,667,329</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,295,544</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">10,506,349</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">12,801,893</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">398,666</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,430,008</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">36,762</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,865,436</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,515,062</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,837,480</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">6,063,045</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">12,415,587</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="text-align: justify"><font style="font-size: 10pt">.</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,116,396</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(3,407,472</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(6,026,283</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(10,550,151</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,126,270</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,126,270</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(2,678,595</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(2,678,595</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Gain on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,597,950</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">2,597,950</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(288,343</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(288,343</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font-size: 10pt">Loss on Fair Market Valuation of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(4,426,047</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(4,426,047</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Gain on Settlement of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font-size: 10pt">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">-</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">565,524</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,495,258</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(929,734</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Net Loss</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(1,116,396</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(2,841,948</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(7,521,541</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(11,479,885</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Total Assets at June 30, 2017</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,104,469</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">60,224,138</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,550,062</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">76,878,669</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="margin: 0pt"></p> Nevada 1-for-15 23608176 9047201 3553587 486176 9316665 1204547 19662334 3715118 492801 8417236 7594184 39881673 4416560 4941265 1070737 456659 919732 540167 6609398 640010 1469388 4500000 4500000 6189144 2122259 12811403 -17900000 -5005000 13100000 -8564324 -8500000 3000000 4790601 4790602 1877741 2188597 21767 16250 0.12 0.12 0.12 0.120 0.130 0.12 0.075 0.075 0.030 0.12 0.135 0.075 0.075 <p><font style="font: 10pt Times New Roman, Times, Serif">The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5%</font></p> <p style="margin: 0pt"><font style="font: 10pt Times New Roman, Times, Serif">The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.0%.</font></p> <p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The interest rate for the first year is 12.0% and increases 0.5% per year, up to 13.0%, through 2021. Payments of interest only are due monthly.</font></p> 4.50 4.50 4.50 <p style="margin: 0pt"></p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">For each note issued under the 2018 Master Securities Purchase Agreement, the principal and interest due and owed under the note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) the original conversion price as defined in each note issuance or (ii) 87% of the average of the two lowest daily volume weighted average price of the Common Stock in the thirteen (13) trading days prior to the conversion date (&#8220;Conversion Price&#8221;), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. Upon certain events of default, the conversion price will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $10.50 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) day&#8217;s notice, that the holder convert the notes at the Conversion Price.</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">&#160; &#160;</p> <p style="font: 10pt/normal Times New Roman, Times, Serif; margin: 0; text-align: justify">The Company may prepay in cash any portion of the outstanding principal amount of the notes and any accrued and unpaid interest by, upon ten (10) days&#8217; written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the notes; (ii) 115% of the sum of the then-outstanding principal amount plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of the notes; or (iii) 125% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the notes.</p> <p style="font: 11pt/107% Calibri, Helvetica, Sans-Serif; margin: 0 0 8pt; text-align: justify">&#160;</p> 196000 164000 116000 20000000 5000000 40000000 20000000 5000000 5000000 150000 5000000 2020-12-01 2021-02-01 2019-06-26 2019-02-21 2018-08-01 2019-12-07 2019-01-25 2020-01-25 8023000 10426088 8023000 10426088 -850000 -926286 7173000 9499802 7173000 9499802 -26333000 -33822483 2034 29926761 7303244 2295292 7303244 4100698 4170219 1932888 1314147 3650000 24510 117831 44282 123727 224925 300000 100000 46687 351000 101083 2044399 27955601 1177732 1977732 1191367 1022306 2044399 1018882 -283697 -27800 2.17 3.08 2.85 3.80 3.10 3.25 4.05 3.75 2.94 4.41 2.17 0.90 P6Y6M0D 1.2693 1.280 0.025 0.028 0.00 114636 66667 91888 37872 102385 72728 550000 159424 866667 173394 44282 550000 109052 40000 81061 190600 51026 1631417 1082883 2374489 852079 480500 264452 107037 294632 184473 157430 446348 954698 552992 123727 205019 320732 1035406 221973 591359 3984837 P1Y8M26D -26710 3.09 3.71 2.64 0.00 0.00 0.00 0.00 -136877 173394 552992 <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$2.16 - $2.88</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion and Exercise Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$1.92 - $2.29</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Annual Dividend Yield</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td id="ffcell" style="vertical-align: bottom; width: 12%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0%</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Life (Years)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.44 - 1.50</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.41% - 2.47%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Volatility</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94.50% - 95.00%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$2.16 - $6.90</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion and Exercise Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$1.92 - $6.60</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Annual Dividend Yield</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td id="ffcell" style="vertical-align: bottom; width: 12%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0%</font></td> <td style="vertical-align: bottom; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Life (Years)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.66 - 2.42</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.77% - 2.52%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Volatility</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">62.36% - 103.43%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> 6500000 <p style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Tax Act makes broad and complex changes to the U.S. tax code that affects revaluation of deferred tax assets and liabilities to reflect the federal tax rate reduction from 35.0% to 21.0%.</font></p> 6900000 310857 6250000 4500000 4000000 0.06 0.50 5000000 200000 53332 30000000 66667 800000 659774 828941 2.20 2.38 P8Y10M20D P9Y1M6D P8Y5M1D P8Y6M 522600 361800 391950 301500 945000 P3Y 199323 34519 775 628035 904352 41700 11597241 2972964 5457374 5131220 -15572000 -2901400 -5672050 -6141000 -193279 -145121 -274760 -108667 35938 29926761 6717694 11732355 12745924 -1639137 -1639137 -2678595 -2678595 -3127477 -3127477 -7858723 -7858723 7104469 60224138 9550062 76878669 7104469 60224138 9550062 76878669 6320906 71591669 31878438 109791013 6320906 71591669 31878438 109791013 -404661 3742358 -4244427 -906730 -1116396 -2841948 -7521541 -11479885 -450811 -1170613 -9701742 -11323166 -1372394 -3564972 -16339092 -21276458 4991571 4991571 4991571 4991571 4991571 4991571 -77286 -77286 -4426047 -4426047 904352 66734450 38873092 38349946 68734997 -0.32 -0.01 -0.28 -0.17 -21459923 -453769 -10565757 -11428003 2088000 475916 4739638 -34519 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) for interim financial information and with the instructions to Securities Exchange Commission (&#8220;SEC&#8221;) Form 10-Q and Article 10 of Regulation S-X of the Securities Act of 1933 and reflect the accounts and operations of the Company and those entities in which we have a controlling financial interest. In accordance with the provisions of FASB or ASC 810, <i>&#8220;Consolidation&#8221;</i>, we consolidate any variable interest entity (&#8220;VIE&#8221;), of which we are the primary beneficiary. The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting interests. ASC 810 requires a variable interest holder to consolidate a VIE if that party has the power to direct the activities of the VIE that most significantly impact the VIE&#8217;s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have determined that we are the primary beneficiary of certain VIEs. We evaluate our relationships with all the VIEs on an ongoing basis to reassess if we continue to be the primary beneficiary.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited consolidated financial statements do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the unaudited consolidated financial position of the Company as of June 30, 2018, the unaudited consolidated results of operations for the three and six months ended June 30, 2018 and 2017, and the unaudited consolidated results of cash flows for the three and six months ended June 30, 2018 and 2017 have been included. These interim unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and, therefore, should be read in conjunction with the consolidated financial statements and related notes contained in the Company&#8217;s most recent Annual Report on Form 10-K filed with the SEC. The December 31, 2017 balances reported herein are derived from the audited consolidated financial statements included in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 16, 2018. The results for the interim periods are not necessarily indicative of results to be expected for the full year.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Non-controlling interest is shown as a component of stockholders&#8217; equity on the consolidated balance sheets and the share of net income (loss) attributable to non-controlling interest is shown as a component of net income (loss) in the consolidated statements of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications did not affect net loss or stockholders&#8217; equity.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 1 &#8211; Quoted prices in active markets for identical assets or liabilities.</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 2 &#8211; Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 3 &#8211; Inputs that are generally unobservable and typically reflect management&#8217;s estimate of assumptions that market participants would use in pricing the asset or liability.</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has elected the fair value option to measure any eligible financial instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">ASC 815-40,&#160;<i>&#8220;Derivatives and Hedging&#8221;</i>, requires freestanding contracts that are settled in a company&#8217;s own stock, including common stock warrants, to be designated as an equity instrument, asset or a liability. Under the provisions of ASC 815-40, a contract designated as an asset or a liability must be carried at fair value on a company&#8217;s balance sheet, with any changes in fair value recorded in the company&#8217;s results of operations. A contract designated as an equity instrument must be included within equity, and no fair value adjustments are required from period to period.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 33.75pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">ASC 815,&#160;<i>&#8220;Derivatives and Hedging&#8221;</i>, requires all derivatives to be recorded on the balance sheet at fair value. Furthermore, ASC 815 precludes contracts issued or held by a reporting entity that are both (1) indexed to its own stock and (2) classified as stockholders&#8217; equity in its statement of financial position from being treated as derivative instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (&#8220;MCS&#8221;) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>FASB ASU No. 2018-07 (Topic 718), &#8220;Compensation&#8212;Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting&#8221; </i></b><i>&#8211; </i>Issued in June 2018, ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosure.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>FASB ASU 2017-04 (Topic 350), &#8220;Intangibles - Goodwill and Others&#8221;</i></b> &#8211; Issued in January 2017, ASU 2017-04 simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit&#8217;s goodwill with the carrying amount of that goodwill. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 including interim periods within those periods. The Company is currently evaluating the effect that ASU 2017-04 will have on our consolidated financial statements and related disclosures.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>FASB ASU No. 2016-02 (Topic 842), &#8220;Leases&#8221; </i></b>&#8211; Issued in February 2016, ASU No. 2016-02 will require entities to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases, including operating leases, with terms of more than 12 months. The new standard also requires additional disclosures on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosures.</font></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>California Licensed Vendors Requirement</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company sources cannabis products for retail, cultivation and production from various vendors. However, as a result of the new regulations in the State of California, the Company&#8217;s California&#160;retail, cultivation and production operations must use vendors licensed by the State&#160;effective January 1, 2018. As a result, the Company will be dependent upon the licensed vendors in California to supply products as of that date. If the Company&#160;is unable to enter into a relationship with sufficient members of properly licensed vendors, the Company's sales may be impacted.&#160;During the three and six months ended June 30, 2018 and 2017, we did not have any concentration of vendors for inventory purchases. However, this may change depending on the number of vendors who receive appropriate licenses to operate in the State of California.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>California Phase-In of Laboratory Testing Requirements</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Bureau of Cannabis Control (&#8220;BCC&#8221;) is the lead agency in developing regulations for medical and adult-use cannabis in California. The BCC is responsible for licensing retailers, distributors, testing labs and microbusinesses. Prior to July 1, 2018, the BCC allowed for a &#8220;transition period&#8221; in which they allowed exceptions from specific regulatory provisions. However, beginning July 1, 2018, cannabis goods must meet all statutory and regulatory requirements. A licensee can only sell cannabis goods that have been tested by a licensed testing laboratory and have passed all statutory and regulatory testing requirements. In order to be sold, cannabis goods harvested or manufactured prior to January 1, 2018, must be tested by a licensed testing laboratory and must comply with all testing requirements in section 5715 of the BCC&#8217;s regulations. Cannabis goods that do not meet all statutory and regulatory requirements must be destroyed in accordance with the rules pertaining to destruction.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160; &#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The laboratory testing requirements are being phased-in three tiers. Tiers 1, 2 and 3 have compliance deadlines of January 1, 2018, July 1, 2018 and December 31, 2018, respectively. With each phased-in tier there are specific laboratory testing requirements for different types of cannabis products as outlined below:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="border: black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr> <td style="width: 10%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 43%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 15%; border-left: black 1pt solid; border-right: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 15%; border-right: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="width: 15%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Phase-In of Required Laboratory Testing</b></font></td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Inhalable Cannabis</b></font></td> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Inhalable Cannabis Products</b></font></td> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Other Cannabis &#38; Cannabis Products</b></font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Tier 1</b></font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">January 1, 2018</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cannabinoids Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Moisture Content Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Category II Residual Solvents and Processing Chemicals Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Category I Residual Pesticides Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Microbial Impurities Testing (A. fumigatus, A. flavus, A. niger, A. terreus)</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Microbial Impurities Testing (Escherichia coli and Salmonella spp.)</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Homogeneity Testing of Edible Cannabis Products</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-left: black 1pt solid; border-bottom-style: solid; border-bottom-width: 1pt; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Tier 2</b></font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">July 1, 2018</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Category I Residual Solvents and Processing Chemicals Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Category II Residual Pesticides Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Foreign Material Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-left: black 1pt solid; border-bottom-style: solid; border-bottom-width: 1pt; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Tier 3</b></font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">December 31, 2018</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Terpenoids Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Mycotoxins Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Heavy Metals Testing</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Water Activity Testing of Solid or Semi-Solid Edibles</font></td> <td style="border-left: black 1pt solid; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">x</font></td></tr> <tr> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-left: black 1pt solid; border-bottom-style: solid; border-bottom-width: 1pt; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; border-right: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On June 8, 2018 the BCC issued new guidance regarding the completion of the transition period from an unregulated to regulated state market.&#160; This guidance was provided to issue direction on how licensees should treat inventory from 2017 and 2018, which was not completely compliant with the BCC regulations that commenced on January 1, 2018. One of these components was that, in addition to tier 1 testing, all products must meet tier 2 testing by July 1, 2018 and tier 3 testing by December 31, 2018.&#160; While testing has not been a barrier to product availability for the Company, it is possible that as the market transitions from tier 2 to tier 3 testing, that products meeting all three tier testing requirements will be limited in nature.&#160; Through industry discussions, the Company believes that cultivators and manufacturers are aware of the new requirements and are taking great measures to meet these requirements.&#160; Considering that other states have similar testing requirements, the Company does not expect that these new testing standards will be an actual barrier to product availability. However, the limited number of testing labs licensed by the state to perform all required tier testing may cause a backlog or delay in testing results, which could have an impact on product availability.</font></p> <p style="margin: 0pt"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has a shared interest in two entities, MediFarm I and MediFarm I RE, with another investor for the operation of a cultivation operation and dispensary in Nevada. The entities are considered to be VIE&#8217;s and the Company is considered to be the primary beneficiary by reference to the power and benefits criterion under ASC&#160;810, <i>&#8220;Consolidation.&#8221;</i> The Company has reviewed the provisions within the operating agreements and other factors which would grant the Company the power to manage and make decisions that affect the operation of these VIEs.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As the primary beneficiary of MediFarm I and MediFarm I RE,&#160;the Company consolidates the accounts and operations of these entities. All intercompany transactions are eliminated in the unaudited consolidated financial statements.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The aggregate carrying values of MediFarm I and MediFarm I RE assets and liabilities, after elimination of any intercompany transactions and balances, in the consolidated balance sheets were as follows (in thousands):</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Current Assets:</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">251,508</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">409,029</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Accounts Receivable, Net</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">224,259</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Inventory</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">582,657</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">232,231</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Prepaid Expenses and Other Current Assets</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94,889</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">302,186</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Total Current Assets</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,153,313</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">943,446</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Property, Equipment and Leasehold Improvements, Net</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,890,709</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,965,103</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>TOTAL ASSETS&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,044,022</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,908,549</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Current Liabilities:</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Accounts Payable and Accrued Expenses</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">269,843</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">319,853</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>TOTAL LIABILITIES</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">269,843</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">319,853</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Property, equipment, and leasehold improvements, net consists of the following:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Land and Building</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">19,662,334</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,047,201</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Furniture and Equipment</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,715,118</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,553,587</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Computer Hardware and Software</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">492,801</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">486,176</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Leasehold Improvements</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,417,236</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,316,665</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Construction in Progress</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,594,184</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,204,547</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Subtotal</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">39,881,673</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">23,608,176</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Less Accumulated Depreciation</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(4,941,265</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(4,416,560</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Property, Equipment and Leasehold Improvements, Net&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">34,940,408</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">19,191,616</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Depreciation expense related to property, equipment and leasehold improvements for the three months ended June 30, 2018 and 2017 was $540,167 and $456,659, respectively, and for the six months ended June 30, 2018 and 2017 was $1,070,737 and $919,732, respectively.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For the three and six months ended June 30, 2018 and 2017, the Company had no income tax expense (benefit).</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The components of deferred income tax assets and (liabilities) are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Deferred Income Tax Assets:</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Net Operating Losses</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,426,088</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,023,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,426,088</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,023,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Deferred Income Tax Liabilities:</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Depreciation</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(926,286</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(850,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,499,802</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,173,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Valuation Allowance</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(9,499,802</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,173,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Net Deferred Tax&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In December 2017 the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the &#8220;Tax Act&#8221;). The Tax Act makes broad and complex changes to the U.S. tax code that affects revaluation of deferred tax assets and liabilities to reflect the federal tax rate reduction from 35.0% to 21.0%.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For the three and six months ended June 30, 2018 and 2017, the Company had subsidiaries that produced and sold cannabis or cannabis pure concentrates, subjecting the Company to the limits of Internal Revenue Code (&#8220;IRC&#8221;) Section 280E. Pursuant to IRC Section 280E, the Company is allowed only to deduct expenses directly related to sales of product. The State of California does not conform to IRC Section 280E and, accordingly the Company is allowed to deduct all operating expenses on its California income tax returns. As the Company files consolidated federal income tax returns, the taxable income generated from its subsidiaries subject to IRC Section 280E has been offset by losses generated by operations not subject to IRC Section 280E. During 2017, Company amended income tax returns of our subsidiary Black Oak Gallery, a California Corporation (&#8220;Black Oak&#8221;) for the periods prior to acquisition, which resulted in a net tax refund in 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Permanent tax differences include ordinary and necessary business expenses deemed by the Company as non-allowable deductions under IRC Section 280E; non-deductible expenses for interest, derivatives and warrant expense related to debt financings and non-deductible losses related to various acquisitions.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160; &#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018 and December 31, 2017, the Company had net operating loss carryforwards of approximately $33,822,483 and $26,333,000, respectively, which, if unused, will expire beginning in the year 2034. These tax attributes are subject to an annual limitation from equity shifts, which constitute a change of ownership as defined under IRC Section 382, which will limit their utilization. The Company has assessed the effect of these limitations and does not believe these losses to be substantially limited. The Company also has deferred tax liabilities from the excess carrying amounts of the basis of depreciable assets for financial reporting purposes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative losses incurred in 2017 and through the six months period ended June 30, 2018. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. On the basis of this evaluation, as of June 30, 2018, a valuation allowance of $9,499,802 has been recorded against all net deferred tax assets as these assets are more likely than not to be unrealized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as our projections for growth.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. All tax years from 2014 to 2017 are subject to examination.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Common Stock</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2018, senior secured convertible promissory notes and accrued interest in the amount of $29,926,761 were converted into 7,303,244 shares of common stock.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2018, the Company sold 1,314,147 shares of common stock for the net amount of $3,650,000 pursuant to an equity financing facility with an accredited investor.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2018, the Company cancelled 24,510 shares of common stock valued at $117,831, issued 44,282 shares of common stock for services performed in the amount of $123,727 and issued 173,394 shares of common stock for compensation in the amount of $552,992.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2018, the Company issued 224,925 shares of common stock for cashless and cash exercises of warrants. The cash received from the cash exercise of warrants was $76,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2018, the Company purchased an asset worth $300,000. $100,000 was paid in cash during March 2018, the remaining $200,000 was paid by issuing 53,332 shares of the Company&#8217;s common stock.&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2018, as part of the stock split in March 2018, the Company issued 46,687 shares of common stock to round up fractional shares to all shareholders of the Company.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the six months ended June 30, 2018, as part of the acquisition of Tech Center Drive in September 2017, the Company issued shares held in escrow which were to be paid six months after the acquisition date subject to any amounts to be withheld related to working capital type adjustments. As a result of the working capital adjustments, in March 2018, approximately $351,000 on the six-month anniversary date, the Company withheld and cancelled 101,083 shares.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>2016 Equity Incentive Plan</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In the first quarter of 2016, the Company adopted the 2016 Equity Incentive Plan. The following table contains information about the 2016 Equity Incentive Plan as of June 30, 2018:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Awards Reserved for Issuance</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Awards Issued</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Awards Available for Grant</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 70%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">2016 Equity Incentive Plan</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">30,000,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,044,399</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">27,955,601</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock Options</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table summarizes the Company&#8217;s stock option activity and related information for the three and six months ended June 30, 2018:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Number of Shares&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted-Average Exercise Price Per Share&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted-Average Remaining Contractual Life&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Aggregate Intrinsic Value of In-the-Money Options&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="12" style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Options Outstanding as of Janury 1, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,177,732</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.17</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Granted</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">800,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4.41</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Exercised</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Forfeited</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Expired</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 63%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Options Outstanding as of March 31, 2018</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,977,732</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.08</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>&#160;9.1 Years&#160;</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">522,600</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Options Exercisable as of Mach 31, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">659,774</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.20</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>&#160;8.5 Years&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">391,950</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Granted</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">66,667</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.75</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Exercised</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Forfeited</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-indent: 11.25pt"><font style="font: 10pt Times New Roman, Times, Serif">Options Expired</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Options Outstanding as of June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,044,399</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.10</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>&#160;8.89 Years&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">361,800</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Options Exercisable as of June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">828,941</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.38</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 2.25pt double; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>&#160;8.42 Years&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">301,500</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The aggregate intrinsic value is calculated as the difference between the Company&#8217;s closing stock price of $2.16 on June 30, 2018 and the exercise price of options, multiplied by the number of options. As of June 30, 2018, there was $3,984,837 total unrecognized stock-based compensation. Such costs are expected to be recognized over a weighted-average period of approximately 1.74 years.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company recognizes compensation expense for stock option awards on a straight-line basis over the applicable service period of the award. The service period is generally the vesting period. The following assumptions were used to calculate stock-based compensation for issuances during the six months ended June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Term (years)</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6.5 Years</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Volatility</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">126.93-128.0%</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.5-2.8%</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; width: 90%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Dividend Yield</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0%</font></td> <td style="vertical-align: bottom; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. Hence, the Company uses the &#8220;simplified method&#8221; described in Staff Accounting Bulletin 107 to estimate the expected term of share option grants.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The expected stock price volatility assumption was determined by examining the historical volatilities for the Company&#8217;s common stock. The Company will continue to analyze the historical stock price volatility and expected term assumptions as more historical data for the Company&#8217;s common stock becomes available.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The risk-free interest rate assumption is based on the U.S. treasury instruments whose term was consistent with the expected term of the Company&#8217;s stock options.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The expected dividend assumption is based on the Company&#8217;s history and expectation of dividend payouts. The Company has never paid dividends on its common stock and does not anticipate paying dividends on its common stock in the foreseeable future. Accordingly, the Company has assumed no dividend yield for purposes of estimating the fair value of the Company stock-based compensation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company estimates the forfeiture rate at the time of grant and revisions, if necessary, were estimated based on management&#8217;s expectation through industry knowledge and historical data.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock-Based Compensation Expense</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table sets forth the total stock-based compensation expense resulting from stock options and restricted grants of common stock to employees, directors and non-employee consultants in the consolidated statement of operations which are included in selling, general and administrative expenses:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For the Three Months Ended</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Type of Award&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 52%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Options</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">66,667</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">480,500</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">550,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">157,430</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Grants:</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Employees (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">91,888</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">264,542</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">102,385</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">294,632</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Employees (Series B Preferred Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Directors (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">72,728</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">184,473</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Non&#8211;Employee Consultants (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">37,872</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">107,037</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">159,424</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">446,348</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total Stock&#8211;Based Compensation Expense</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">852,079</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,082,883</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For the Six Months Ended</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Type of Award&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Number of Shares or Options Granted</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Stock-Based Compensation Expense&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 52%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Options</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">866,667</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">954,698</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">550,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">205,019</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Grants:</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Employees (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">173,394</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">552,992</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">109,052</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">320,732</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Employees (Series B Preferred Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">40,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,035,406</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Directors (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">81,061</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">221,973</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Non&#8211;Employee Consultants (Common Stock)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">44,282</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">123,727</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">190,600</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">591,359</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total Stock&#8211;Based Compensation Expense</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,631,417</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,374,489</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has the following shares of common stock reserved for exercise of the warrants outstanding as of June 30, 2018:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Shares</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Weighted-Average Exercise Price</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Warrants Outstanding as of January 1, 2018</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,191,367</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.85</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Warrants Exercised</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(283,697</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.17</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Warrants Granted</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">114,636</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4.05</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Warrants Expired</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Warrants Outstanding as of March 31, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,022,306</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.80</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Warrants Exercised</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(27,800</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.90</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Warrants Granted</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">51,026</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.94</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Warrants Expired</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: solid; border-bottom-width: 1pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(26,710</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.09</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Warrants Outstanding as of June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,018,822</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.25</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following weighted-average assumptions were used to calculate the fair value of warrants issued during the period ended June 30, 2018 and 2017 using the Black Scholes option pricing model:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 74%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Price on Date of Grant</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.45</font></td> <td style="vertical-align: bottom; width: 2%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4.94</font></td> <td style="vertical-align: bottom; width: 2%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Exercise Price</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3.71</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.64</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Volatility</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">118.90</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">133.54</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Term</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5.00</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Yrs</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5.00</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Yrs</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.50</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.53</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Dividend Rate</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">%</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">There were no warrants recognized as an expense for the three and six months period ended June 30, 2018. There were no warrants recognized as an expense for the three months period June 30, 2017. Warrant expense of $211,534 was recognized for the six months period June 30, 2017. Warrants of $475,916 for the six months ended June 30, 2018 were recorded for warrants issued in connection with debt and recorded as a debt discount.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Warrant expense was $104,499 and $211,534 for three and six months ended June 30, 2017, respectively. For the three and six months period ended June 30, 2017, there were no warrants issued in connection with debt and recorded as a debt discount.</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font-size: 10pt"><b>June 30,</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="text-align: center"><font style="font-size: 10pt"><b>December 31,&#160;</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2018</b></font></td> <td style="text-align: justify">&#160;</td> <td style="text-align: justify">&#160;</td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font-size: 10pt"><b>2017</b></font></td> <td style="text-align: justify">&#160;</td></tr> <tr> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td colspan="2" style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Land and Building</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">19,662,334</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font-size: 10pt">9,047,201</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Furniture and Equipment</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,715,118</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">3,553,587</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Computer Hardware and Software</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">492,801</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">486,176</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Leasehold Improvements</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">8,417,236</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">9,316,665</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Construction in Progress</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">7,594,184</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">1,204,547</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Subtotal</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">39,881,673</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right"><font style="font-size: 10pt">23,608,176</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt">Less Accumulated Depreciation</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(4,941,265</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify">&#160;</td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">(4,416,560</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font-size: 10pt">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: right">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font-size: 10pt"><b>Property, Equipment and Leasehold Improvements, Net&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">34,940,408</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; text-align: justify">&#160;</td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font-size: 10pt">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font-size: 10pt">19,191,616</font></td> <td style="vertical-align: bottom; text-align: justify">&#160;</td></tr> </table> 183465 -452961 -914128 104837 4692697 200000 428334 438870 2122259 4500000 6189144 904352 <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Organization</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">References in this document to &#8220;the Company&#8221;, &#8220;Terra Tech&#8221;, &#8220;we&#8221;, &#8220;us&#8221;, or &#8220;our&#8221; are intended to mean Terra Tech Corp., individually, or as the context requires, collectively with its subsidiaries on a consolidated basis.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company is a vertically integrated retail, production and cultivation company, with an emphasis on providing the highest quality of medical and adult use cannabis products. The Company also holds an exclusive patent on an organic antioxidant rich Superleaf lettuce and sells living herbs that are grown using classic Dutch hydroponic farming methods.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has a presence in three states (California, Nevada and New Jersey), and currently has cannabis operations in California and Nevada. All the Company&#8217;s cannabis dispensaries operate under the name Bl&#252;m. The Company&#8217;s cannabis dispensaries offer a broad selection of medical and adult use cannabis products including flowers, concentrates and edibles.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On March 12, 2018, the Company implemented a 1-for-15 reverse stock split of the Company&#8217;s common stock (the &#8220;Reverse Stock Split&#8221;). The Reverse Stock Split became effective in the stock market upon commencement of trading on March 13, 2018. As a result of the Reverse Stock Split, every fifteen shares of the Company&#8217;s Pre-Reverse Stock Split common stock were combined and reclassified into one share of the Company&#8217;s common stock. The number of shares of common stock subject to outstanding options, warrants and convertible securities were also reduced by a factor of fifteen as of March 13, 2018. All historical share and per share amounts reflected throughout unaudited consolidated financial statements have been adjusted to reflect the Reverse Stock Split. The authorized number of shares and the par value per share of the Company&#8217;s common stock were not affected by the Reverse Stock Split.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Basis of Presentation</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (&#8220;GAAP&#8221;) for interim financial information and with the instructions to Securities Exchange Commission (&#8220;SEC&#8221;) Form 10-Q and Article 10 of Regulation S-X of the Securities Act of 1933 and reflect the accounts and operations of the Company and those entities in which we have a controlling financial interest. In accordance with the provisions of FASB or ASC 810, <i>&#8220;Consolidation&#8221;</i>, we consolidate any variable interest entity (&#8220;VIE&#8221;), of which we are the primary beneficiary. The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting interests. ASC 810 requires a variable interest holder to consolidate a VIE if that party has the power to direct the activities of the VIE that most significantly impact the VIE&#8217;s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have determined that we are the primary beneficiary of certain VIEs. We evaluate our relationships with all the VIEs on an ongoing basis to reassess if we continue to be the primary beneficiary.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160; &#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited consolidated financial statements do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the unaudited consolidated financial position of the Company as of June 30, 2018, the unaudited consolidated results of operations for the three and six months ended June 30, 2018 and 2017, and the unaudited consolidated results of cash flows for the three and six months ended June 30, 2018 and 2017 have been included. These interim unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and, therefore, should be read in conjunction with the consolidated financial statements and related notes contained in the Company&#8217;s most recent Annual Report on Form 10-K filed with the SEC. The December 31, 2017 balances reported herein are derived from the audited consolidated financial statements included in the Company&#8217;s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 16, 2018. The results for the interim periods are not necessarily indicative of results to be expected for the full year.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-Controlling Interest</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Non-controlling interest is shown as a component of stockholders&#8217; equity on the consolidated balance sheets and the share of net income (loss) attributable to non-controlling interest is shown as a component of net income (loss) in the consolidated statements of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Use of Estimates</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of total net revenue and expenses in the reporting periods. The Company regularly evaluates estimates and assumptions related to revenue recognition, allowances for doubtful accounts, sales returns, inventory valuation, stock-based compensation expense, goodwill and purchased intangible asset valuations, derivative liabilities, deferred income tax asset valuation allowances, uncertain tax positions, tax contingencies, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenue, costs and expenses that are not readily apparent from other sources. The actual results the Company experiences may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company&#8217;s future results of operations will be affected. The Company continues to evaluate the impact of adult use legalization in California on its sales forecasts. Certain of the Company&#8217;s assets, such as goodwill, may be negatively impacted if the Company were to decrease its California sales forecasts.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Reclassifications</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications did not affect net loss or stockholders&#8217; equity.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Assets Held for Sale</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.35pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Assets held for sale represent furniture, equipment, and leasehold improvements less accumulated depreciation as well as any other assets that are held for sale in conjunction with the sale of a business. The Company recorded assets held for sale in accordance with ASC 360<i>, &#8220;Property, Plant, and Equipment,&#8221;</i> at the lower of carrying value or fair value less cost to sell. Fair value is based on the estimated proceeds from the sale of the facility utilizing recent purchase offers, market comparables and/or data. Our estimate as to fair value is regularly reviewed and subject to changes in the commercial real estate markets and our continuing evaluation as to the facility&#8217;s acceptable sale price. The reclassification takes place when the assets are available for immediate sale and the sale is highly probable. These conditions are usually met as from the date on which a letter of intent or agreement to sell is ready for signing.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.7pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160; &#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Revenue Recognition</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, <i>&#8220;Revenue from Contracts with Customers&#8221; </i>and all the related amendments, which are also codified into Accounting Standards Codification (ASC) 606. The Company elected to adopt this guidance using the modified retrospective method. The adoption of this standard did not have a material impact on the Company&#8217;s financial position or results of operations. The Company did not restate prior period information for the effects of the new standard, nor did the Company adjust the opening balance of its&#8217; retained deficit to account for the implementation of the new requirements of this standard. The Company does not expect the adoption of this guidance to have a material effect on its&#8217; results of operations in future periods.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Under the new standard, the Company recognizes a sale as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Cannabis Dispensary, Cultivation and Production</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company recognizes revenue from manufacturing and distribution product sales when our customers obtain control of our products. Revenue from our retail dispensaries is recorded at the time customers take possession of the product. Revenue from our retail dispensaries is recognized net of discounts, rebates, promotional adjustments, price adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Upon purchase, the Company has no further performance obligations and collection is assured as sales are paid for at time of purchase.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Revenue related to distribution customers is recorded when the customer is determined to have taken control of the product. That determination is based on the customer specific terms of the arrangement and gives consideration to factors including, but not limited to, whether the customer has an unconditional obligation to pay, whether a time period or event is specified in the arrangement and whether the Company can mandate the return or transfer of the products. Recorded revenue is net of any discounts, rebates, promotional adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Herbs and Produce Products</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company recognizes revenue from products grown in its greenhouses net of variable consideration such as estimated returns upon delivery of the product to the customer at which time control passes to the customer. Upon transfer of control, the Company has no further performance obligations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For sales for which the Company uses an outside grower, the Company evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions. The evaluation considers whether the Company takes control of the products of the outside grower, whether it has the ability to direct the outside grower to provide the product to the customer on its behalf or whether it combines products from the outside grower with its own goods and services to provide the products to the customer.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In evaluating whether it takes control of the products of the outside grower, the Company considers whether it has primary responsibility for fulfilling the promise to provide the products, whether the Company is subject to inventory risk related to the products and whether it has the ability to set the selling prices for the products.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160; &#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value of Financial Instruments</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 0.5in"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 1 &#8211; Quoted prices in active markets for identical assets or liabilities.</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 2 &#8211; Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.5in; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><i>Level 3 &#8211; Inputs that are generally unobservable and typically reflect management&#8217;s estimate of assumptions that market participants would use in pricing the asset or liability.</i></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has elected the fair value option to measure any eligible financial instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Derivative Financial Instruments</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">ASC 815-40,&#160;<i>&#8220;Derivatives and Hedging&#8221;</i>, requires freestanding contracts that are settled in a company&#8217;s own stock, including common stock warrants, to be designated as an equity instrument, asset or a liability. Under the provisions of ASC 815-40, a contract designated as an asset or a liability must be carried at fair value on a company&#8217;s balance sheet, with any changes in fair value recorded in the company&#8217;s results of operations. A contract designated as an equity instrument must be included within equity, and no fair value adjustments are required from period to period.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify; text-indent: 33.75pt"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">ASC 815,&#160;<i>&#8220;Derivatives and Hedging&#8221;</i>, requires all derivatives to be recorded on the balance sheet at fair value. Furthermore, ASC 815 precludes contracts issued or held by a reporting entity that are both (1) indexed to its own stock and (2) classified as stockholders&#8217; equity in its statement of financial position from being treated as derivative instruments.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (&#8220;MCS&#8221;) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160; &#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Recently Issued Accounting Standards</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>FASB ASU No. 2018-07 (Topic 718), &#8220;Compensation&#8212;Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting&#8221; </i></b><i>&#8211; </i>Issued in June 2018, ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosure.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>FASB ASU 2017-04 (Topic 350), &#8220;Intangibles - Goodwill and Others&#8221;</i></b> &#8211; Issued in January 2017, ASU 2017-04 simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit&#8217;s goodwill with the carrying amount of that goodwill. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 including interim periods within those periods. The Company is currently evaluating the effect that ASU 2017-04 will have on our consolidated financial statements and related disclosures.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>FASB ASU No. 2016-02 (Topic 842), &#8220;Leases&#8221;</i></b> &#8211; Issued in February 2016, ASU No. 2016-02 will require entities to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases, including operating leases, with terms of more than 12 months. The new standard also requires additional disclosures on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosures.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On October 26, 2017, the Company entered into agreements with NuLeaf Sparks Cultivation, LLC and NuLeaf Reno Production, LLC (collectively, &#8220;NuLeaf&#8221;) to build and operate cultivation and production facilities for our IVXX brand of cannabis products in Nevada. The agreements are subject to approval by the State of Nevada, the City of Sparks and the City of Reno in Nevada. As part of the agreements, the Company made convertible loans at the time of the agreement of $4.5 million in aggregate to the NuLeaf entities bearing an interest rate of 6% per annum. In April 2018, the Company amended the note receivable with NuLeaf to extend the maturity date to August 1, 2018. Upon approval the loans will automatically convert into a 50% ownership in the NuLeaf entities. On June 28, 2018 the Company received approval from the State of Nevada. The remaining required approvals from local authorities were received in July 2018. As a result, the notes receivable balance at June 30, 2018 was converted into a 50% ownership interest in NuLeaf in July 2018. See <i>&#8220;Note 17 &#8211; Subsequent Events&#8221;</i> for additional disclosure regarding changes in notes receivable subsequent to June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>California Operating Licenses</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Effective January 1, 2018 the State of California allowed for adult use cannabis sales. California&#8217;s cannabis licensing system is being implemented in two phases. First, beginning on January 1, 2018, the State began issuing temporary licenses. Temporary licenses were initially issued for 90 days, but have since been extended twice by the state. Our current temporary licenses expire on October 28, 2018. The extensions were initially provided because in May the Company had submitted all the necessary documentation for an annual license to be issued. Prior to the state completing its review of any annual licenses, the licensing authority Bureau Cannabis Control (&#8220;BCC&#8221;) determined that they would eliminate the need to have multiple licenses issued to each entity for both medical and adult use. What this meant was that the State would allow for an entity to apply for a consolidated license which allowed the entities to sell both medical and recreational cannabis. The Company has since applied for single category licenses that allow our vertically integrated activities to conduct sales in both the medical and adult use categories. The decision by the regulating authority meant that the cost of the annual licenses would also be reduced as prior to this change we would have had to apply for two licenses one in each category and they each bore a multi-thousand dollar expense. The Company&#8217;s prior licenses obtained from the local jurisdictions in which it operated in have been continued by such jurisdictions and are necessary to obtain state licensing. The Company has received a temporary license for each local jurisdiction which it had active operations.&#160;The temporary permits may be extended for an additional period of time.&#160;The Company submitted its applications for the annual permits in April 2018. Although the Company believes it will receive the necessary licenses from the State to conduct its business in a timely fashion, there is no guarantee the Company will be able to do so and any failure to do so may have a negative effect on its business and results of operations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160; &#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Although the possession, cultivation and distribution of cannabis for medical and adult use is permitted in California and Nevada, cannabis is a Schedule-I controlled substance and its use remains a violation of federal law. Since federal law criminalizing the use of cannabis preempts state laws that legalize its use, strict enforcement of federal law regarding cannabis would likely result in our inability to proceed with our business plan, especially in respect of our cannabis cultivation, production and dispensaries. In addition, our assets, including real property, cash, equipment and other goods, could be subject to asset forfeiture because cannabis is still federally illegal.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company&#8217;s operating and reportable segments are currently organized around the following products that it offers as part of its core business strategy:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="width: 100%; font-size-adjust: none; font-stretch: normal"> <tr> <td style="width: 4%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; width: 4%; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#183;</font></td> <td style="vertical-align: top; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Herbs and Produce Products</i></b> &#8211; Includes herbs and leafy greens that are grown using classic Dutch hydroponic farming methods.</font></td></tr> <tr> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: top; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#183;</font></td> <td style="vertical-align: top; font: 12pt Times New Roman, Times, Serif; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Cannabis Dispensary, Cultivation and Production</i></b> &#8211; Includes cannabis-focused retail, cultivation and production.</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Summarized financial information concerning the Company&#8217;s reportable segments is shown in the following tables. Total asset amounts at June 30, 2018 and 2017 exclude intercompany receivable balances eliminated in consolidation.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; font-size-adjust: none; font-stretch: normal"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" id="hdcell" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For the Three Months Ended June 30, 2018</b><br /> <b>(Unaudited)</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,502,789</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,203,971</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,417</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,718,177</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">958,694</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,551,060</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,509,754</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">544,095</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,652,911</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,417</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,208,423</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">994,906</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,823,524</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,183,940</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,002,370</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(450,811</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,170,613</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(4,172,523</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,793,947</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(417,363</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(417,363</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,127,477</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,127,477</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Loss on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,653,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,653,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(331,379</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(331,379</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,529,219</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,529,219</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Net Loss</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(450,811</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,170,613</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(9,701,742</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(11,323,166</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Assets at June 30, 2018</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,320,906</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">71,591,669</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">31,878,438</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">109,791,013</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160; &#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom-style: solid; border-bottom-width: 1pt; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For the Three Months Ended June 30, 2017</b><br /> <b>(Unaudited)</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,777,067</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,049,319</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">16,487</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,842,873</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,325,729</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,010,771</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,336,500</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">451,338</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,038,548</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">16,487</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,506,373</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">855,999</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,210,475</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,962,813</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,029,287</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(404,661</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,171,927</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,946,326</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(4,522,914</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(515,654</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(515,654</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,639,137</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,639,137</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gain on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">987,200</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">987,200</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(130,510</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(130,510</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Loss on Fair Market Valuation of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(77,286</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(77,286</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gain on Settlement of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,914,285</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,298,101</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,616,184</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Net Income (Loss)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(404,661</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,742,358</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(4,244,427</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(906,730</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Assets at June 30, 2017</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,104,469</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">60,224,138</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,550,062</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">76,878,669</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom-style: solid; border-bottom-width: 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For the Six Months Ended June 30, 2018 </b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></font></p></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,786,690</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">14,518,525</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">28,328</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">17,333,543</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,221,811</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,255,869</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">13,477,680</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">564,879</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,262,656</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">28,328</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,855,863</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,937,273</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,827,231</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,660,414</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">16,424,918</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,372,394</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,564,575</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,632,086</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(12,569,055</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(885,680</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(885,680</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,858,723</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,858,723</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gain on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">628,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">628,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(397</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(590,603</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(591,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(397</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(8,707,006</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(8,707,403</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Net Loss</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,372,394</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,564,972</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(16,339,092</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(21,276,458</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Assets at June 30, 2018</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,320,906</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">71,591,669</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">31,878,438</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">109,791,013</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="14" style="border-bottom-style: solid; border-bottom-width: 1pt"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>For the Six Months Ended June 30, 2017 </b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>(Unaudited)</b></font></p></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Herbs and Produce Products&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Cannabis Dispensary, Cultivation and Production&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Eliminations and Other&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Revenues</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,694,210</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,936,357</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">36,762</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">14,667,329</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cost of Goods Sold</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,295,544</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">10,506,349</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,801,893</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gross Profit</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">398,666</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,430,008</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">36,762</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,865,436</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Selling, General and Administrative Expenses</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,515,062</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,837,480</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,063,045</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,415,587</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loss from Operations</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,116,396</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(3,407,472</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(6,026,283</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(10,550,151</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other Income (Expense):</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Amortization of Debt Discount</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,126,270</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,126,270</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Loss on Extinguishment of Debt</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,678,595</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,678,595</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gain on Fair Market Valuation of Derivatives</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,597,950</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,597,950</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Interest Expense</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(288,343</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(288,343</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Loss on Fair Market Valuation of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(4,426,047</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(4,426,047</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Gain on Settlement of Contingent Consideration</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,991,571</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Total Other Income (Expense)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">565,524</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,495,258</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(929,734</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Net Loss</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(1,116,396</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,841,948</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(7,521,541</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(11,479,885</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total Assets at June 30, 2017</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,104,469</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">60,224,138</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,550,062</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; border-bottom-style: double; border-bottom-width: 2.25pt; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">76,878,669</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company is the subject of lawsuits and claims arising in the ordinary course of business from time to time. The Company reviews any such legal proceedings and claims on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions. The Company establishes accruals for those contingencies where the incurrence of a loss is probable and can be reasonably estimated, and it discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued if such disclosure is necessary for the Company&#8217;s financial statements to not be misleading. To estimate whether a loss contingency should be accrued by a charge to income, the Company evaluates, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of the loss. The Company does not record liabilities when the likelihood that the liability has been incurred is probable, but the amount cannot be reasonably estimated. Based upon present information, the Company determined that there were no matters that required an accrual as of June 30, 2018 nor were there any asserted or unasserted material claims for which material losses are reasonably possible.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On April 11, 2018, the Company filed a lawsuit in the United States District Court, Central District of California against Kenneth Vande Vrede, Michael Vande Vrede, Steven Vande Vrede, Daniel Vande Vrede, Greda Vande Vrede, Beverly Willekes, Brian Vande Vrede, Gro-Rite, Inc. (&#8220;Gro-Rite&#8221;) and Naturally Beautiful Plant Products, LLC (&#8220;Naturally Beautiful&#8221;) alleging breach of contract, breach of fiduciary duties, conversion, fraud, breach of covenant of good faith and fair dealing, misappropriation of trade secrets, and conspiracy related to, among other things, the Share Exchange Agreement, dated as of April 24, 2013 among the Company, the Company&#8217;s wholly-owned subsidiary, Edible Garden Corp. (&#8220;Edible Garden&#8221;), and the individual defendants (the &#8220;Share Exchange Agreement&#8221;). The Company is seeking monetary damages, including attorneys&#8217; fees and expenses, return of shares of the Company&#8217;s common stock issued to the individual defendants under the Share Exchange Agreement, return of stock options issued to the individual defendants, and return of the Company&#8217;s intellectual property.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On April 10, 2018, Gro-Rite, Naturally Beautiful and Whitetown Realty (&#8220;Whitetown Realty&#8221; and collectively, the &#8220;Whitetown Realty Plaintiffs&#8221;) filed a lawsuit in the Superior Court of New Jersey Law Division, Morris County against the Company and Edible Garden alleging, among other things, that Edible Garden owes certain amounts to Gro-Rite under a Marketing and Distribution Agreement between Edible Garden and Gro-Rite, dated May 7, 2013, and Naturally Beautiful under a Marketing and Distribution Agreement between Edible Garden and Naturally Beautiful, dated May 13, 2013 (collectively, the &#8220;Marketing and Distribution Agreements&#8221;), and that Edible Garden owes certain amounts to Whitetown Realty under the Lease between Whitetown Realty and Edible Garden, dated January 1, 2015 (the &#8220;Lease&#8221;). The Whitetown Realty Plaintiffs are seeking, among other things, compensatory damages for the amounts claimed are owed and attorneys&#8217; fees and costs. The Company believes that Edible Garden does not owe any payments under the Marketing and Distribution Agreements or the Lease. The Company disputes the Whitetown Realty Plaintiffs&#8217; allegations in the lawsuit and intends to vigorously defend itself. Accordingly, on May 18, 2018, the Company and Edible Garden filed an answer denying the allegations of the Whitetown Realty plaintiffs.&#160; In that same pleading, Edible Garden filed a counterclaim against Naturally Beautiful and Gro-Rite asserting claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, trademark infringement/unfair competition, and tortious interference with contractual relations.&#160; Edible Garden also filed a third-party complaint against previously unidentified defendants John Doe Entities 1-10 and John Doe Individuals 1-10 arising from the wrongful misappropriation and pirating of electricity from the Edible Garden facility located at 283 Route 519, Belvidere, New Jersey.&#160; That third-party complaint alleges claims for unjust enrichment, tortious interference with contractual relations and conversion.&#160; On June 8, 2018, Edible Garden filed an amended counterclaim adding a count for conversion against Naturally Beautiful and Gro-Rite.&#160; On June 12, 2018, Edible Garden Corp. filed an amended third-party complaint adding Gerda Vande Vrede as a named third-party defendant.&#160; On June 13, 2018, Gro-Rite and Naturally Beautiful filed an answer to Edible Garden&#8217;s amended counterclaim and Gerda Vande Vrede filed an answer to Edible Garden&#8217;s amended third-party complaint denying the allegations asserted against them.&#160; No counterclaims, crossclaims or fourth party complaints were filed on behalf of Gerda Vande Vrede, Naturally Beautiful or Gro-Rite.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On April 13, 2018, Edible Garden Corp. filed a lawsuit in the Superior Court of New Jersey Chancery Division, Warren County against Whitetown Realty in response to a letter from a law firm representing Whitetown Realty alleging Edible Garden was in default of the Lease. Edible Garden is seeking declaratory and equitable relief to prevent Whitetown Realty from terminating the Lease and for attorneys&#8217; fees and costs. The Company believes that Edible Garden has made all payments due to Whitetown Realty under the Lease and maintains Edible Garden is not in default of the Lease. On April 23, 2018, by order of the assignment judge of Warren County, the lawsuit was transferred to Morris County and consolidated with the April 10, 2018 lawsuit previously filed by Gro-Rite, Naturally Beautiful and Whitetown Realty in the Superior Court of New Jersey, Law Division, Morris County.&#160; On June 13, 2018, Whitetown Realty filed its answer to the Edible Garden Complaint.&#160; In that answer, Whitetown Realty denies that Edible Garden is entitled to the declaratory and equitable relief that Edible Garden requested.&#160; No counterclaim was filed by Whitetown Realty.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.35pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On April 11, 2018, Kenneth Vande Vrede, Michael Vande Vrede and Steven Vande Vrede (collectively, the &#8220;Vande Vrede Brothers&#8221;) filed a lawsuit in the Superior Court of New Jersey Law Division, Warren County against the Company and Edible Garden alleging, among other things, that the Company and Edible Garden improperly suspended the Vande Vrede Brothers from their positions with the Company and Edible Garden. The Vande Vrede Brothers were seeking, among other things, a declaratory judgment that they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the Vande Vrede Brothers to their status with the Company and Edible Garden prior to their suspensions and attorneys&#8217; fees and costs. The original complaint in this matter was never served, and on June 12, 2018, the Vande Vrede Brothers, and now David Vande Vrede, Daniel Vande Vrede, Beverly Willekes, and Whitetown Realty filed an amended complaint against Terra Tech, Edible Garden, Derek Peterson, Michael James, and Michael Nahass.&#160; The Company filed a pre-answer motion to dismiss the amended complaint, arguing that any of the plaintiffs&#8217; claims that relate to the Share Exchange Agreement, belong in the already existing lawsuit in California, and any of the plaintiffs&#8217; claims that relate to the lease, belong in the already existing lawsuits in New Jersey. &#160;The Company disputes the Vande Vredes&#8217; allegations in the lawsuit and intends to vigorously defend itself.</font></p> <p style="margin: 0pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of total net revenue and expenses in the reporting periods. The Company regularly evaluates estimates and assumptions related to revenue recognition, allowances for doubtful accounts, sales returns, inventory valuation, stock-based compensation expense, goodwill and purchased intangible asset valuations, derivative liabilities, deferred income tax asset valuation allowances, uncertain tax positions, tax contingencies, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenue, costs and expenses that are not readily apparent from other sources. The actual results the Company experiences may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company&#8217;s future results of operations will be affected. The Company continues to evaluate the impact of adult use legalization in California on its sales forecasts. Certain of the Company&#8217;s assets, such as goodwill, may be negatively impacted if the Company were to decrease its California sales forecasts.</font></p> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Assets held for sale represent furniture, equipment, and leasehold improvements less accumulated depreciation as well as any other assets that are held for sale in conjunction with the sale of a business. The Company recorded assets held for sale in accordance with ASC 360<i>, &#8220;Property, Plant, and Equipment,&#8221;</i> at the lower of carrying value or fair value less cost to sell. Fair value is based on the estimated proceeds from the sale of the facility utilizing recent purchase offers, market comparables and/or data. Our estimate as to fair value is regularly reviewed and subject to changes in the commercial real estate markets and our continuing evaluation as to the facility&#8217;s acceptable sale price. The reclassification takes place when the assets are available for immediate sale and the sale is highly probable. These conditions are usually met as from the date on which a letter of intent or agreement to sell is ready for signing.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, <i>&#8220;Revenue from Contracts with Customers&#8221; </i>and all the related amendments, which are also codified into Accounting Standards Codification (ASC) 606. The Company elected to adopt this guidance using the modified retrospective method. The adoption of this standard did not have a material impact on the Company&#8217;s financial position or results of operations. The Company did not restate prior period information for the effects of the new standard, nor did the Company adjust the opening balance of its&#8217; retained deficit to account for the implementation of the new requirements of this standard. The Company does not expect the adoption of this guidance to have a material effect on its&#8217; results of operations in future periods.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Under the new standard, the Company recognizes a sale as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Cannabis Dispensary, Cultivation and Production</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company recognizes revenue from manufacturing and distribution product sales when our customers obtain control of our products. Revenue from our retail dispensaries is recorded at the time customers take possession of the product. Revenue from our retail dispensaries is recognized net of discounts, rebates, promotional adjustments, price adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Upon purchase, the Company has no further performance obligations and collection is assured as sales are paid for at time of purchase.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Revenue related to distribution customers is recorded when the customer is determined to have taken control of the product. That determination is based on the customer specific terms of the arrangement and gives consideration to factors including, but not limited to, whether the customer has an unconditional obligation to pay, whether a time period or event is specified in the arrangement and whether the Company can mandate the return or transfer of the products. Recorded revenue is net of any discounts, rebates, promotional adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b><i>Herbs and Produce Products</i></b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company recognizes revenue from products grown in its greenhouses net of variable consideration such as estimated returns upon delivery of the product to the customer at which time control passes to the customer. Upon transfer of control, the Company has no further performance obligations.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For sales for which the Company uses an outside grower, the Company evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions. The evaluation considers whether the Company takes control of the products of the outside grower, whether it has the ability to direct the outside grower to provide the product to the customer on its behalf or whether it combines products from the outside grower with its own goods and services to provide the products to the customer.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In evaluating whether it takes control of the products of the outside grower, the Company considers whether it has primary responsibility for fulfilling the promise to provide the products, whether the Company is subject to inventory risk related to the products and whether it has the ability to set the selling prices for the products.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">As of June 30, 2018, there was one asset group in the Cannabis Dispensary, Cultivation and Production segment that met the criteria to be recorded as held for sale under ASC 360: (1) Management, having the authority to approve the action, committed to a plan to sell the asset, (2) The asset group was available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets, (3) An active program to locate a buyer and other actions required to complete the plan to sell the asset group have been initiated, (4) The sale of the asset group was probable, and transfer of the asset group was expected to qualify for recognition as a completed sale, within one year, (5) The asset group was being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (6) Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The assets related to this asset group has been classified as held for sale on the Consolidated Balance Sheets. On July 6, 2018, MediFarm LLC, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with Exhale Brands Nevada III, LLC (the &#8220;Purchaser&#8221;) pursuant to which the Company agreed to sell and the Purchaser agreed to purchase substantially all of the assets of the Company related to the Company&#8217;s dispensary located at 1921 Western Ave., Las Vegas, NV 89102 (the &#8220;Business&#8221;). The aggregate consideration to be paid for the Business is $6,250,000 in cash plus the value of any inventory of the Business on the closing date. The transaction is subject to approval by the Nevada Department of Taxation and is expected to close promptly following receipt of such approval. There is no material relationship between the Company or its affiliates and the Purchaser other than in respect of the transactions contemplated by the Purchase Agreement. The Purchase Agreement contains customary conditions, representations, warranties, indemnities and covenants by, among, and for the benefit of the parties.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The components of assets held for sale are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">34,519</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Inventory</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">199,323</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Prepaid Expenses and Other Assets&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">41,700</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other Assets</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">775</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Property, Equipment and Leasehold Improvements, Net</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">628,035</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Assets Held for Sale</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>$</b></font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>904,352</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30, 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">34,519</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Inventory</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">199,323</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Prepaid Expenses and Other Assets&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">41,700</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Other Assets</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">775</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Property, Equipment and Leasehold Improvements, Net</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">628,035</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Assets Held for Sale</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>$</b></font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif"><b>904,352</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Current Assets:</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Cash</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">251,508</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">409,029</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Accounts Receivable, Net</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">224,259</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Inventory</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">582,657</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">232,231</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Prepaid Expenses and Other Current Assets</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94,889</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">302,186</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Total Current Assets</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,153,313</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">943,446</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Property, Equipment and Leasehold Improvements, Net</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,890,709</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,965,103</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>TOTAL ASSETS&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,044,022</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,908,549</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Current Liabilities:</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top"><font style="font: 10pt Times New Roman, Times, Serif">Accounts Payable and Accrued Expenses</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">269,843</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">319,853</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>TOTAL LIABILITIES</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">269,843</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">319,853</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Notes payable consists of the following:&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Senior convertible promissory note dated August 21, 2017, issued to accredited investors, which matures February 21, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment. The balance of the note and accrued interest was converted into common stock in January 2018.</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">640,010</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Senior convertible promissory note dated December 26, 2017, issued to accredited investors, which matures June 26, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment.&#160; The balance of the note and accrued interest was converted into common stock in January 2018.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,469,388</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Promissory note dated November 22, 2017, issued for the purchase of real property.&#160; Matures December 1, 2020, with an option to extend the maturity date 1 year.&#160; The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5%.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,500,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,500,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Promissory note dated January 18, 2018, issued for the purchase of real property.&#160; The promissory note is collateralized by the land and building purchased and matures February 1, 2021, with an option to extend the maturity date 1 year.&#160; The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.0%.&#160; The full principle balance and accrued interest are due at maturity.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,189,144</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Senior convertible promissory note dated June 7, 2018, issued to accredited investors under the 2018 Master Securities Purchase and Convertible Promissory Notes Agreement, which matures December 7, 2019 and bears interest at a rate of 7.5% per annum. The conversion price is $4.50, subject to adjustment.&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,122,259</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Long-Term Debt, Net of Discounts</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,811,403</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,609,398</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Total debt as of June 30, 2018 and December 31, 2017 was $12,811,403 and $6,609,398, respectively, net of unamortized debt discount of $2,188,597 and $4,790,601, respectively. The senior convertible promissory notes are secured by shares of common stock. There was accrued interest payable of $16,250 and $21,767 as of June 30, 2018 and December 31, 2017, respectively. See <i>&#8220;Note 17 &#8211; Subsequent Events&#8221;</i> for additional disclosure regarding changes in notes payable subsequent to June 30, 2018.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Scheduled Maturities of Long-Term Debt</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Scheduled maturities of long-term debt, including the unamortized debt discounts of $2,188,597, are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="22" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Year Ending December&#160;31,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Six Months Ending December 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2020</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2021</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2022</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2023</b><br /> <b>and thereafter</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 20%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total Debt</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 17%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,122,259</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,500,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,189,144</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,811,403</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Promissory Notes</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On January 18, 2018, the Company entered into a $6,500,000 promissory note for the purchase of land and a building in California with a third-party creditor. As part of the closing of the purchase of land, the Company issued warrants with a value of approximately $164,000 and paid a cash fee of $195,000. The unamortized balance as of June 30, 2018 was $310,857. The warrants and cash fee were recorded as a debt discount. The interest rate for the first year is 12.0% and increases 0.5% per year, up to 13.0%, through 2021. Payments of interest only are due monthly. The full principle balance and accrued interest are due at maturity.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018 Master Securities Purchase and Convertible Promissory Notes Agreement </b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In March 2018, the Company entered into the 2018 Master Securities Purchase Agreement with an accredited investor pursuant to which the Company sells to the accredited investor 7.5% Senior Convertible Promissory Notes in eight traunches of $5,000,000, for a total of $40,000,000.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For each note issued under the 2018 Master Securities Purchase Agreement, the principal and interest due and owed under the note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) the original conversion price as defined in each note issuance or (ii) 87% of the average of the two lowest daily volume weighted average price of the Common Stock in the thirteen (13) trading days prior to the conversion date (&#8220;Conversion Price&#8221;), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. Upon certain events of default, the conversion price will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $10.50 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) day&#8217;s notice, that the holder convert the notes at the Conversion Price.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company may prepay in cash any portion of the outstanding principal amount of the notes and any accrued and unpaid interest by, upon ten (10) days&#8217; written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the notes; (ii) 115% of the sum of the then-outstanding principal amount plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of the notes; or (iii) 125% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the notes.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the period ended March 31, 2018, the Company issued a 7.5% convertible note for an aggregate value of $5,000,000. In April 2018, the note was converted into shares of the Company&#8217;s common stock. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash and issued approximately $116,000 of warrants in connection with the notes. The cash fee and warrants were recorded as a debt discount and fully amortized upon conversion of the note into shares of the Company&#8217;s common stock.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In June 2018, the Company issued a 7.5% convertible note for an aggregate value of $5,000,000. During June 2018, $1,000,000 plus interest was converted into 438,870 shares of the Company&#8217;s common stock. As of June 30, 2018, $4,000,000 principal, gross of the unamortized debt discount of $1,877,741 remains due. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash in connection with the notes. The cash fee was recorded as a debt discount.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017 Master Securities Purchase and Convertible Promissory Notes Agreement</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The Company has a Securities Purchase Agreement with an accredited investor pursuant to which the Company sells to the accredited investor Senior Convertible Promissory Notes. During the year ended December 31, 2017, the Company issued five 12% convertible notes for an aggregate value of $20,000,000 due at various dates through June 2019. Of the $20,000,000 convertible notes issued during 2017, the Company converted $13,100,000 of the convertible notes into shares of the Company&#8217;s common stock during the year ended December 31, 2017. As of December 31, 2017, $6,900,000 principal, gross of the unamortized debt discount of $4,790,602 remained due. The convertible notes outstanding as of December 31, 2017 were all converted in January 2018. In January 2018, the Company issued a 12% convertible note for an aggregate value of $5,000,000. Of the $5,000,000 convertible note issued in January, the Company converted all of the convertible note during the six months period ended June 2018. As of June 30, 2018, the related unamortized debt discount was completely amortized. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash and issued approximately $196,000 of warrants in connection with the notes. The cash fee and warrants issued were recorded as a debt discount.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Conversion of Notes Payable and Related Loss on Extinguishment of Debt</b>&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">During the three and six months ended June 30, 2018 and 2017, the Company converted debt and accrued interest into shares of the Company&#8217;s common stock, respectively. The table below details the conversion of the notes payable into equity, the loss on extinguishment of debt and value of the Company&#8217;s common stock issued in conversion of debt for the three and six months ended June 30, 2018 and 2017:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Three Months Ended June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Six Months Ended June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair market value of common stock issued upon conversion&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,745,924</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,717,694</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">29,926,761</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,732,355</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Principal amount of debt converted&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(8,500,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,005,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(17,900,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(8,564,324</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Accrued interest converted&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(108,667</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(145,121</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(193,279</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(274,760</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair value of derivative at conversion date&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(6,141,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,901,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(15,572,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,672,050</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debt discount value at conversion date&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,131,220</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,972,964</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,597,241</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,457,374</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loss on extinguishment of debt&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,127,477</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,639,137</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,858,723</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,678,595</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Common Stock Issued Upon Conversion</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,170,219</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,295,292</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,303,244</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,100,698</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>December 31,&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Senior convertible promissory note dated August 21, 2017, issued to accredited investors, which matures February 21, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment. The balance of the note and accrued interest was converted into common stock in January 2018.</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">640,010</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Senior convertible promissory note dated December 26, 2017, issued to accredited investors, which matures June 26, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment.&#160; The balance of the note and accrued interest was converted into common stock in January 2018.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,469,388</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Promissory note dated November 22, 2017, issued for the purchase of real property.&#160; Matures December 1, 2020, with an option to extend the maturity date 1 year.&#160; The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5%.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,500,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,500,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Promissory note dated January 18, 2018, issued for the purchase of real property.&#160; The promissory note is collateralized by the land and building purchased and matures February 1, 2021, with an option to extend the maturity date 1 year.&#160; The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.0%.&#160; The full principle balance and accrued interest are due at maturity.</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,189,144</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Senior convertible promissory note dated June 7, 2018, issued to accredited investors under the 2018 Master Securities Purchase and Convertible Promissory Notes Agreement, which matures December 7, 2019 and bears interest at a rate of 7.5% per annum. The conversion price is $4.50, subject to adjustment.&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,122,259</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Long-Term Debt, Net of Discounts</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,811,403</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,609,398</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell" style="border-bottom: black 1pt solid"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="22" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Year Ending December&#160;31,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Six Months Ending December 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2019</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2020</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2021</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2022</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2023</b><br /> <b>and thereafter</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 20%"><font style="font: 10pt Times New Roman, Times, Serif"><b>Total Debt</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 17%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,122,259</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,500,000</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,189,144</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; width: 7%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,811,403</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" id="hdcell" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Three Months Ended June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="6" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Six Months Ended June 30,</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair market value of common stock issued upon conversion&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">12,745,924</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">6,717,694</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">29,926,761</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,732,355</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Principal amount of debt converted&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(8,500,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,005,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(17,900,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(8,564,324</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Accrued interest converted&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(108,667</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(145,121</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(193,279</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(274,760</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair value of derivative at conversion date&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(6,141,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(2,901,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(15,572,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(5,672,050</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Debt discount value at conversion date&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,131,220</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,972,964</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">11,597,241</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">5,457,374</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Loss on extinguishment of debt&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">3,127,477</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,639,137</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,858,723</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,678,595</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Common Stock Issued Upon Conversion</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,170,219</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2,295,292</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">7,303,244</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">4,100,698</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following tables set forth the financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the dates indicated:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value at </b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></p></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value Measurement Using&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Description&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 1&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 2&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 3&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative Liabilities &#8211; Conversion Feature</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value at December 31,&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value Measurement Using&#160;</b></font></td></tr> <tr> <td style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Description&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 1&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 2&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 3&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative Liabilities &#8211; Conversion Feature</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">The following table presents a reconciliation of the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance at December 31, 2017&#160;</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Change in Fair Market Value of Conversion Feature</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(628,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative Debt Converted into Equity</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(15,572,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,760,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance at June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Effective as of June 2018, the Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (&#8220;MCS&#8221;) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.35pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.35pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Significant inputs into the Monte Carlo Simulation used to calculate the derivative values are as follows:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: Black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$2.16 - $2.88</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion and Exercise Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$1.92 - $2.29</font></td> <td style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 88%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Annual Dividend Yield</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0%</font></td> <td style="vertical-align: bottom; width: 1%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Life (Years)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.44 - 1.50</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">2.41% - 2.47%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Volatility</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">94.50% - 95.00%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">For derivative liabilities issued prior to June 2018, the Company estimates the fair value of the derivative liabilities using the Black-Scholes-Merton option pricing model using the following assumptions for issuances during the period ended:</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom; background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Stock Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$2.16 - $6.90</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom; background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Conversion and Exercise Price</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">$1.92 - $6.60</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; width: 88%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Annual Dividend Yield</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0%</font></td> <td style="vertical-align: bottom; width: 1%"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Life (Years)</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">0.66 - 2.42</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Risk-Free Interest Rate</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1.77% - 2.52%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Expected Volatility</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">62.36% - 103.43%</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Volatility is based on historical volatility of our common stock. Historical volatility was computed using weekly pricing observations for our common stock that correspond to the expected term. This method produces an estimate that is representative of our expectations of future volatility over the expected term of these warrants and conversion features.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">No financial assets were measured on a recurring basis as of June 30, 2018 and December 31, 2017.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Non-financial assets, such as property, equipment and leasehold improvements, goodwill, and intangible assets, are required to be measured at fair value only when an impairment loss is recognized.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: bottom"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="hdcell"><p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value at </b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>June 30,</b></font></p></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="10" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value Measurement Using&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Description&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2018</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 1&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 2&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 3&#160;</b></font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" id="ffcell" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative Liabilities &#8211; Conversion Feature</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value at December 31,&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="11" style="vertical-align: bottom; border-bottom: black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Fair Value Measurement Using&#160;</b></font></td></tr> <tr> <td style="vertical-align: top; border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Description&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>2017</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 1&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 2&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td colspan="2" style="border-bottom: black 1pt solid; text-align: center"><font style="font: 10pt Times New Roman, Times, Serif"><b>Level 3&#160;</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative Liabilities &#8211; Conversion Feature</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">-</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <table cellspacing="0" cellpadding="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%"> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance at December 31, 2017&#160;</b></font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td id="ffcell" style="vertical-align: bottom; width: 9%; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">9,331,400</font></td> <td style="vertical-align: bottom; width: 1%; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Change in Fair Market Value of Conversion Feature</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(628,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: white"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Derivative Debt Converted into Equity</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">(15,572,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">)</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 1pt solid; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="border-bottom: Black 1pt solid; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">8,760,000</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: white"> <td style="text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> <tr style="background-color: #CCEEFF"> <td style="vertical-align: top; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Balance at June 30, 2018</b></font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td> <td style="vertical-align: bottom; border-bottom: Black 2.25pt double; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">$</font></td> <td style="border-bottom: Black 2.25pt double; vertical-align: bottom; text-align: right"><font style="font: 10pt Times New Roman, Times, Serif">1,891,400</font></td> <td style="vertical-align: bottom; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></td></tr> </table> <p style="margin: 0pt"></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Equity Financing Facility</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On July 25, 2018, the Company issued a $5,000,000 convertible note to an accredited investor pursuant to the 2018 Master Securities Purchase Agreement. The convertible note matures in January 25, 2020 and accrues interest at a rate of 7.5% per year.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On July 25, 2018, the Company entered into a Securities Purchase Agreement with an accredited investor and issued a $150,000 convertible note. The convertible note matures in January 25, 2019 and accrues interest at a rate of 3.0% per year.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Debt and Interest Converted into Equity</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">Subsequent to June 30, 2018, senior convertible promissory notes and accrued interest issued under the 2018 Master Securities Purchase Agreement, in the amount of $3,000,000 and $35,938, respectively, were converted into 1,932,888 shares of common stock.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Option Issuances</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">In July 2018, the Company issued 945,000 options which vest quarterly over 3 years to various directors and executives.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif"><b>Other</b></font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On July 26, 2018, the Company received approvals from local authorities for the change of ownership in NuLeaf. As a result, the notes receivable balance at June 30, 2018 was converted into a 50% ownership interest in NuLeaf in July 2018. See <i>&#8220;Note 6 &#8211; Notes Receivable&#8221;</i> for additional disclosure.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.35pt; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On July 26, 2018, the Company announced that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The Healing Tree Collective, Inc. was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana. The remaining 75% of The Healing Tree Collective, Inc. and therefore the associated permit, is held by other members of The Healing Tree Collective, Inc., with whom the Company partnered in order to complete the permit application process. Under the terms of the agreement between the Company and the other members of The Healing Tree Collective, Inc, the Company covered the costs of the permit application and Black Oak, will be responsible for managing all of the facility&#8217;s operations, including hiring decisions. The facility is located at 3222 W. Pendleton Ave, Santa Ana, California, an area of Santa Ana in which the Company did not previously have a presence.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On July 24, 2018, the Company announced it has been granted two permits by the City of Santa Ana to operate one retail dispensary on Dyer Road and one on Carnegie Avenue in Santa Ana, California. The first dispensary will be located at 620 East Dyer Road, with plans to become a fully vertical cannabis complex. The second dispensary will be located at 1815 E. Carnegie Avenue.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On July 6, 2018, MediFarm LLC, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement (the &#8220;Purchase Agreement&#8221;) with Exhale Brands Nevada III, LLC (the &#8220;Purchaser&#8221;) pursuant to which the Company agreed to sell and the Purchaser agreed to purchase substantially all of the assets of the Company related to the Company&#8217;s dispensary located at 1921 Western Ave., Las Vegas, NV 89102 (the &#8220;Business&#8221;). See &#8220;<i>Note 4 - Assets Held for Sale&#8221; </i>for additional disclosure.</font></p> <p style="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">&#160;</font></p> <p style="margin: 0; text-align: justify"><font style="font: 10pt Times New Roman, Times, Serif">On July 30, 2018, the Company entered into Independent Director Agreements with Steven J. Ross (the &#8220;Ross Agreement&#8221;) and Alan Gladstone (the &#8220;Gladstone Agreement&#8221;).</font></p> EX-101.SCH 8 trtc-20180630.xsd XBRL TAXONOMY EXTENSION SCHEMA 00000001 - Document - Document and Entity Information link:presentationLink link:calculationLink link:definitionLink 00000002 - Statement - CONSOLIDATED BALANCE SHEETS link:presentationLink link:calculationLink link:definitionLink 00000003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) link:presentationLink link:calculationLink link:definitionLink 00000004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) link:presentationLink link:calculationLink link:definitionLink 00000005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) link:presentationLink link:calculationLink link:definitionLink 00000006 - Disclosure - DESCRIPTION OF BUSINESS link:presentationLink link:calculationLink link:definitionLink 00000007 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES link:presentationLink link:calculationLink link:definitionLink 00000008 - Disclosure - CONCENTRATIONS OF BUSINESS AND CREDIT RISK link:presentationLink link:calculationLink link:definitionLink 00000009 - Disclosure - ASSETS HELD FOR SALE link:presentationLink link:calculationLink link:definitionLink 00000010 - Disclosure - VARIABLE INTEREST ENTITY ARRANGEMENTS link:presentationLink link:calculationLink link:definitionLink 00000011 - Disclosure - NOTES RECEIVABLE link:presentationLink link:calculationLink link:definitionLink 00000012 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET link:presentationLink link:calculationLink link:definitionLink 00000013 - Disclosure - NOTES PAYABLE link:presentationLink link:calculationLink link:definitionLink 00000014 - Disclosure - FAIR VALUE MEASUREMENTS link:presentationLink link:calculationLink link:definitionLink 00000015 - Disclosure - TAX EXPENSE link:presentationLink link:calculationLink link:definitionLink 00000016 - Disclosure - EQUITY link:presentationLink link:calculationLink link:definitionLink 00000017 - Disclosure - STOCK-BASED COMPENSATION link:presentationLink link:calculationLink link:definitionLink 00000018 - Disclosure - WARRANTS link:presentationLink link:calculationLink link:definitionLink 00000019 - Disclosure - COMMITMENTS AND CONTINGENCIES link:presentationLink link:calculationLink link:definitionLink 00000020 - Disclosure - SEGMENT INFORMATION link:presentationLink link:calculationLink link:definitionLink 00000021 - Disclosure - LITIGATION AND CLAIMS link:presentationLink link:calculationLink link:definitionLink 00000022 - Disclosure - SUBSEQUENT EVENTS link:presentationLink link:calculationLink link:definitionLink 00000023 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) link:presentationLink link:calculationLink link:definitionLink 00000024 - Disclosure - ASSETS HELD FOR SALE (Tables) link:presentationLink link:calculationLink link:definitionLink 00000025 - Disclosure - VARIABLE INTEREST ENTITY ARRANGEMENTS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000026 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables) link:presentationLink link:calculationLink link:definitionLink 00000027 - Disclosure - NOTES PAYABLE (Tables) link:presentationLink link:calculationLink link:definitionLink 00000028 - Disclosure - FAIR VALUE MEASUREMENTS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000029 - Disclosure - TAX EXPENSE (Tables) link:presentationLink link:calculationLink link:definitionLink 00000030 - Disclosure - STOCK-BASED COMPENSATION (Tables) link:presentationLink link:calculationLink link:definitionLink 00000031 - Disclosure - WARRANTS (Tables) link:presentationLink link:calculationLink link:definitionLink 00000032 - Disclosure - SEGMENT INFORMATION (Tables) link:presentationLink link:calculationLink link:definitionLink 00000033 - Disclosure - DESCRIPTION OF BUSINESS (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000034 - Disclosure - ASSETS HELD FOR SALE (Details) link:presentationLink link:calculationLink link:definitionLink 00000035 - Disclosure - ASSETS HELD FOR SALE (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000036 - Disclosure - VARIABLE INTEREST ENTITY ARRANGEMENTS (Details) link:presentationLink link:calculationLink link:definitionLink 00000037 - Disclosure - NOTES RECEIVABLE (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000038 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details) link:presentationLink link:calculationLink link:definitionLink 00000039 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000040 - Disclosure - NOTES PAYABLE (Details) link:presentationLink link:calculationLink link:definitionLink 00000041 - Disclosure - NOTES PAYABLE (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000042 - Disclosure - NOTES PAYABLE (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000043 - Disclosure - NOTES PAYABLE (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000044 - Disclosure - FAIR VALUE MEASUREMENTS (Details) link:presentationLink link:calculationLink link:definitionLink 00000045 - Disclosure - FAIR VALUE MEASUREMENTS (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000046 - Disclosure - FAIR VALUE MEASUREMENTS (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000047 - Disclosure - TAX EXPENSE (Details) link:presentationLink link:calculationLink link:definitionLink 00000048 - Disclosure - TAX EXPENSE (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000049 - Disclosure - EQUITY (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000050 - Disclosure - STOCK-BASED COMPENSATION (Details) link:presentationLink link:calculationLink link:definitionLink 00000051 - Disclosure - STOCK-BASED COMPENSATION (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000052 - Disclosure - STOCK-BASED COMPENSATION (Details 2) link:presentationLink link:calculationLink link:definitionLink 00000053 - Disclosure - STOCK-BASED COMPENSATION (Details 3) link:presentationLink link:calculationLink link:definitionLink 00000054 - Disclosure - STOCK-BASED COMPENSATION (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000055 - Disclosure - WARRANTS (Details) link:presentationLink link:calculationLink link:definitionLink 00000056 - Disclosure - WARRANTS (Details 1) link:presentationLink link:calculationLink link:definitionLink 00000057 - Disclosure - WARRANTS (Details Narrative) link:presentationLink link:calculationLink link:definitionLink 00000058 - Disclosure - SEGMENT INFORMATION (Details) link:presentationLink link:calculationLink link:definitionLink 00000059 - Disclosure - SUBSEQUENT EVENTS (Details Narrative) link:presentationLink link:calculationLink link:definitionLink EX-101.CAL 9 trtc-20180630_cal.xml XBRL TAXONOMY EXTENSION CALCULATION LINKBASE EX-101.DEF 10 trtc-20180630_def.xml XBRL TAXONOMY EXTENSION DEFINITION LINKBASE EX-101.LAB 11 trtc-20180630_lab.xml XBRL TAXONOMY EXTENSION LABEL LINKBASE Class of Stock [Axis] Convertible Series A Preferred Stock Convertible Series B Preferred Stock Fair Value, Hierarchy [Axis] Fair Value Measurement Using, Level 1 [Member] Fair Value Measurement Using, Level 2 [Member] Fair Value Measurement Using, Level 3 [Member] Segments [Axis] Herbs and Produce Products [Member] Cannabis Dispensary Cultivation and Production [Member] Eliminations And Other [Member] Segment Information [Member] Property, Plant and Equipment, Type [Axis] Land and Building [Member] Furniture and Equipment [Member] Computer Hardware and Software [Member] Leasehold Improvements [Member] Construction in Progress [Member] DebtInstrument [Axis] Convertible Promissory Note [Member] Convertible Promissory Note One [Member] Promissory Note [Member] Range [Axis] Minimum [Member] Liability Class [Axis] Derivative Liabilities [Member] Plan Name [Axis] Monte Carlo Simulation [Member] Maximum [Member] Legal Entity [Axis] Variable Interest Entity [Member] Title of Individual [Axis] NuLeaf [Member] Convertible promissory note [Member] Extinguishment of Debt [Axis] 2017 Master Securities Purchase Agreement [Member] Statement, Equity Components [Axis] Warrant [Member] Promissory Note [Member] Income Tax Authority [Axis] California [Member] Related Party Transactions By Related Party [Axis] Third- Party Creditor [Member] 2018 Master Securities Purchase Agreement [Member] Black-Scholes-Merton option pricing model [Member] Business Acquisition [Axis] Tech Center Drive [Member] Accredited investor [Member] DebtInstrument [Axis] Senior secured convertible promissory notes [Member] Promissory Note One [Member] Convertible Promissory Note Two [Member] Subsequent Event Type [Axis] Subsequent Event [Member] MediFarm LLC [Member] Award Type [Axis] 2016 Equity Incentive Plan [Member] Financial Instrument [Axis] Stock Options [Member] Employees (Common Stock) [Member] Employees (Series B Preferred Stock) [Member] Directors (Common Stock) [Member] Non-Employee Consultants (Common Stock) [Member] Securities Purchase Agreement [Member] Directors and Executives [Member] Monte Carlo [Member] Convertible promissory notes [Member] Document And Entity Information Entity Registrant Name Entity Central Index Key Document Type Document Period End Date Amendment Flag Current Fiscal Year End Date Is Entity a Well-known Seasoned Issuer Is Entity a Voluntary Filer Is Entity's Reporting Status Current Entity Filer Category Entity Common Stock, Shares Outstanding Document Fiscal Period Focus Document Fiscal Year Focus Statement [Table] Statement [Line Items] ASSETS Current Assets: Cash Accounts Receivable Notes Receivable Inventory Assets Held for Sale Prepaid Expenses and Other Current Assets Total Current Assets Property, Equipment and Leasehold Improvements, Net Intangible Assets, Net Goodwill Other Assets TOTAL ASSETS LIABILITIES AND STOCKHOLDERS' EQUITY LIABILITIES: Current Liabilities: Accounts Payable and Accrued Expenses Derivative Liabilities Total Current Liabilities Long-Term Liabilities: Long-Term Debt, Net of Discounts Total Long-Term Liabilities Total Liabilities COMMITMENTS AND CONTINGENCIES STOCKHOLDERS' EQUITY: Preferred Stock, Value Common Stock, Par Value 0.001: 990,000,000 Shares Authorized as of June 30, 2018 and December 31, 2017; 70,852,978 and 61,818,560 Shares Issued and Outstanding as of June 30, 2018 and December 31, 2017, respectively Additional Paid-In Capital Accumulated Deficit Total Terra Tech Corp. Stockholders' Equity Non-Controlling Interest Total Stockholders' Equity TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY Preferred stock, par value Preferred stock, Authorized Preferred stock, Issued Preferred stock, Outstanding Common stock, par value Common stock, Authorized Common stock, Issued Common stock, Outstanding Consolidated Statements Of Operations Total Revenues Cost of Goods Sold Gross Profit Selling, General and Administrative Expenses Loss from Operations Other Income (Expense): Amortization of Debt Discount Loss on Extinguishment of Debt Gain (Loss) on Fair Market Valuation of Derivatives Interest Expense, Net Loss on Fair Market Valuation of Contingent Consideration Gain on Settlement of Contingent Consideration Total Other Income (Expense) Net Loss Net Income (Loss) Attributable to Non-Controlling Interest NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. Net Loss Per Common Share Attributable to Terra Tech Corp. Common Stockholders – Basic and Diluted Weighted-Average Number of Common Shares Outstanding – Basic and Diluted Consolidated Statements Of Cash Flows CASH FLOWS FROM OPERATING ACTIVITIES: Net Loss Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities: Gain on Fair Market Valuation of Derivatives Loss on Fair Market Valuation of Contingent Consideration Cancellation of shares issued Gain on Settlement of Contingent Consideration Loss on Extinguishment of Debt Amortization of Debt Discount Interest income Accreted Depreciation and Amortization Warrants Issued with Common Stock and Debt Stock Issued for Compensation Stock Issued for Director Fees Stock Issued for Services Stock Option Compensation Changes in Operating Assets and Liabilities: Accounts Receivable Inventory Prepaid Expenses and Other Current Assets Other Assets Accounts Payable and Accrued Expenses NET CASH USED IN OPERATING ACTIVITIES CASH FLOWS FROM INVESTING ACTIVITIES: Issuance of Note Receivable Purchase of Property, Equipment and Leasehold Improvements NET CASH USED IN INVESTING ACTIVITIES CASH FLOWS FROM FINANCING ACTIVITIES: Proceeds from Issuance of Notes Payable Cash Paid for Debt Discount Proceeds from Issuance of Common Stock, Warrants and Common Stock Subscribed Payment of Contingent Consideration Proceeds from Exercise of Warrants Cash (Distribution) Contribution from Non-Controlling Interest NET CASH PROVIDED BY FINANCING ACTIVITIES NET CHANGE IN CASH NET CHANGE IN CASH CLASSIFIED WITHIN CURRENT ASSETS HELD FOR SALE Cash at Beginning of Period CASH AT END OF PERIOD SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES: Cash Paid for Interest SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES: Settlement of Contingent Consideration Purchase of Land and Building with a Mortgage Gain on Settlement of Contingent Consideration Recorded Against Additional Paid-In Capital Fair Value of Debt Discount and Derivative liability Recorded Issuance of Common Stock for Debt and Interest Expense Claw back of Escrow Shares From The Tech Center Drive Asset Acquisition Issuance of Common Stock for Other Assets Fair Value of Warrants Issued for Debt Discount Deposits Applied to the Purchase of property Assets Classified as Held for Sale Notes to Financial Statements NOTE 1 - DESCRIPTION OF BUSINESS NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES NOTE 3 - CONCENTRATIONS OF BUSINESS AND CREDIT RISK NOTE 4 - ASSETS HELD FOR SALE NOTE 5 - VARIABLE INTEREST ENTITY ARRANGEMENTS NOTE 6 - NOTES RECEIVABLE NOTE 7 - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET NOTE 8 - NOTES PAYABLE NOTE 9 - FAIR VALUE MEASUREMENTS NOTE 10 - TAX EXPENSE NOTE 11 - EQUITY NOTE 12 - STOCK-BASED COMPENSATION NOTE 13 - WARRANTS NOTE 14 - COMMITMENTS AND CONTINGENCIES NOTE 15 - SEGMENT INFORMATION NOTE 16 - LITIGATION AND CLAIMS NOTE 17 - SUBSEQUENT EVENTS Summary Of Significant Accounting Policies Basis of Presentation Non-Controlling Interest Use of Estimates Reclassifications Assets Held for Sale Revenue Recognition Fair Value of Financial Instruments Derivative Financial Instruments Recently Issued Accounting Standards Assets Held For Sale Schedule of assets held for sale Variable Interest Entity Arrangements VARIABLE INTEREST ENTITY ARRANGEMENTS Property Equipment And Leasehold Improvements Net Property, equipment, and leasehold improvements Notes Payable Notes payable Scheduled Maturities of Long-Term Debt Conversion of the notes payable Fair value hierarchy financial assets measured Reconciliation of the Derivative Liabilities measured Estimated fair value of derivative liabilities assumptions Tax Expense Deferred tax assets and liabilities Stock-based Compensation Equity Incentive Plan Stock option activity Weighted-average assumptions stock-based compensation Stock-Based Compensation Expense Warrants Warrants outstanding Warrants utilizing weighted-average inputs Segment Information Summarized financial information Description Of Business State of Incorporation Reverse stock split Components Of Assets Held for Sale and Liabilities Held for Sale: Cash Inventory Prepaid Expenses and Other Assets  Other Assets Property, Equipment and Leasehold Improvements, Net Assets Held for Sale Business consideration Accounts Receivable, Net Total Current Assets TOTAL ASSETS Total Liabilities Convertible loans Interest rate per annum Ownership percentage Debt maturity date Property, Equipment and Leasehold Improvements, Gross Less Accumulated Depreciation Property Equipment And Leasehold Improvements Net Depreciation expense Debt Instrument [Axis] Notes payable Notes Payable 2019 2020 2021 2022 2023 and thereafter Total Debt Notes Payable Fair market value of common stock issued upon conversion Principal amount of debt converted Accrued interest converted Fair value of derivative at conversion date Debt discount value at conversion date Loss on extinguishment of Debt Common Stock Issued Upon Conversion Related Party [Axis] Unamortized debt discount Accrued interest payable Interest rate Purchase of land and building Unamortized debt discount remaining balance Cash paid for debt discount Convertible debt aggregate value Amount per tranches Issuance of convertible debt Debt conversion, converted instrument, amount Issuance of warrants value Interest rate escalation description Conversion price Description of conversion price Debt instrument maturity date Convertible debt Common stock converted shares Derivative liability - Conversion Feature Fair value of financial liabilities Liabilities measured at fair value Beginning Balance Change in Fair Market Value of Conversion Feature Derivative Debt Converted into Equity Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt Liabilities measured at fair value Ending Balance Stock Price Conversion and Exercise Price Annual Dividend Yield Expected Life (Years) Risk-Free Interest Rate Expected Volatility Tax Expense Deferred Income Tax Assets: Net Operating Losses Deferred Income Tax Assets Deferred Income Tax Liabilities: Depreciation Total Valuation Allowance Net Deferred Tax Tax Expense Net operating loss carry forwards Net operating loss carry forwards expiring year Tax Cuts and Jobs Act, description Short-term Debt, Type [Axis] Debt conversion converted amount Common stock shares sold Proceeds from sale of common stock Common stock shares cancelled Value of common stock shares cancelled Common stock shares issued for services Common stock value issued for services Common stock shares issued for compensation Common stock value issued for compensation Common stock shares issued upon exercise of warrants or rights Proceeds from exercise of warrants or rights Amount of asset purchased Asset purchased, consideration paid in cash Asset purchased, consideration payable Asset purchased shares issuable for consideration payable Common stock shares issued, stock split Business acquisition working capital adjustments amount withheld Business acquisition, shares cancelled due to working capital adjustments Awards Reserved for Issuance Awards Issued Awards Available for Grant Stock-based Compensation Number of Options Options/Warrants outstanding - beginning balance Options Granted Options Forfeited Options Exercised Options Expired Options/Warrants outstanding - ending balance Options Exercisable Weighted average exercise price Options/Warrants outstanding - beginning balance Options Granted Options Forfeited Options Exercised Options Expired Options/Warrants outstanding - ending balance Options Exercisable Weighted average remaining contracted term Options outstanding - ending balance Options exercisable Aggregate intrinsic value Options outstanding - ending balance Options Exercisable Expected Term (years) Volatility Risk-Free Interest Rate Dividend Yield Number of Shares or Options Granted Stock-Based Compensation Expense Stock-based Compensation Closing stock price Unrecognized stock-based compensation Weighted-average period Equity Components [Axis] Shares Warrants Exercised Warrants Granted Warrants Expired Weighted Average Exercise Price Warrants Exercised Warrants Granted Warrants Expired Stock Price on Date of Grant Exercise Price Volatility Term Expected Dividend Rate Warrants Details Warrant expense Gross Profit Loss from Operations Other Income Expense: Loss on Extinguishment of Debt Gain (Loss) on Fair Market Valuation of Derivatives Interest Expense Loss on Fair Market Valuation of Contingent Consideration Total Other Income (Expense) Net Loss Total assets Issuance of stock option Option vesting period Debt and Interest Payments. Demand promissory notes. Warrants issued with common stock Discount senior scured convertible promissory note one. Discount senior scured convertible promissory note two. Exercise Price Range Eight Member. Exercise Price Range Eleven Member Custom Element. Custom Element. custom:Exercise Price Range Nine Member Custom Element. Exercise Price Range Seven Member. Custom Element. Exercise Price Range Ten Member Custom Element. Exercise Price Range Twelve Member Custom Element. Gain On Fair Market Valuation Of Derivatives. Note 13. LITIGATION AND CLAIMS Custom Element. Custom element. Senior Secured Promissory Note Five Member Senior Secured Promissory Note Four Member Custom Element. Custom Element. Senior Secured Promissory Note Three Member. Senior Secured Promissory Note Two Member. Custom Element. Custom Element. Services Rendered. Custom Element. Custom element. Custom Element. Custom Element. Custom Element. Warrants shares. Custom Element. PromissoryNoteMember Liabilities, Current Liabilities, Noncurrent Stockholders' Equity, Including Portion Attributable to Noncontrolling Interest Stockholders' Equity Attributable to Parent Liabilities and Equity Interest Expense Net Income (Loss) Attributable to Parent Increase (Decrease) in Accounts Receivable Increase (Decrease) in Inventories Increase (Decrease) in Prepaid Expense Increase (Decrease) in Deposit Assets Increase (Decrease) in Accounts Payable and Accrued Liabilities Net Cash Provided by (Used in) Operating Activities Payments to Acquire Notes Receivable Payments to Acquire Property, Plant, and Equipment Net Cash Provided by (Used in) Investing Activities Payments of Debt Issuance Costs Payment for Contingent Consideration Liability, Financing Activities Net Cash Provided by (Used in) Financing Activities Cash and Cash Equivalents, Period Increase (Decrease) Cash and Cash Equivalents, at Carrying Value NonControllingInterestPolicyTextBlock AssetsAndLiabilitiesHeldForSalePolicyTextBlock CashLandHeldForSale Inventory, Land Held-for-sale OtherAssetsHeldForSaleCurrent AssetsHeldForSalePropertyPlantAndEquipment AssetsHeldForSaleAtCarryingValue Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment Deferred Tax Assets, Valuation Allowance Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Number Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Weighted Average Exercise Price Share-based Compensation Arrangements by Share-based Payment Award, Options, Forfeitures in Period, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Forfeitures and Expirations in Period, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value Share-based Compensation Arrangement by Share-based Payment Award, Fair Value Assumptions, Risk Free Interest Rate Employee Benefits and Share-based Compensation Share-based Compensation Arrangements by Share-based Payment Award, Options, Expirations in Period, Weighted Average Exercise Price Extinguishment of Debt, Gain (Loss), Income Tax GainOnFairMarketValuationOfDerivatives LossFromDerivativesIssuedWithDebtGreaterThanDebtCarryingValue Income (Loss) from Continuing Operations before Income Taxes, Noncontrolling Interest EX-101.PRE 12 trtc-20180630_pre.xml XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE XML 13 R1.htm IDEA: XBRL DOCUMENT v3.10.0.1
Document and Entity Information - shares
6 Months Ended
Jun. 30, 2018
Aug. 06, 2018
Document And Entity Information    
Entity Registrant Name Terra Tech Corp.  
Entity Central Index Key 0001451512  
Document Type 10-Q  
Document Period End Date Jun. 30, 2018  
Amendment Flag false  
Current Fiscal Year End Date --12-31  
Is Entity a Well-known Seasoned Issuer No  
Is Entity a Voluntary Filer No  
Is Entity's Reporting Status Current Yes  
Entity Filer Category Accelerated Filer  
Entity Common Stock, Shares Outstanding   72,189,614
Document Fiscal Period Focus Q2  
Document Fiscal Year Focus 2018  
XML 14 R2.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED BALANCE SHEETS - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash $ 5,153,608 $ 5,445,582
Accounts Receivable 1,210,446 959,698
Notes Receivable 6,158,731 5,010,143
Inventory 3,840,773 5,760,019
Assets Held for Sale 904,352  
Prepaid Expenses and Other Current Assets 1,086,989 1,067,689
Total Current Assets 18,354,899 18,243,131
Property, Equipment and Leasehold Improvements, Net 34,940,408 19,191,616
Intangible Assets, Net 26,696,348 27,773,110
Goodwill 28,921,260 28,921,260
Other Assets 878,098 4,058,682
TOTAL ASSETS 109,791,013 98,187,799
Current Liabilities:    
Accounts Payable and Accrued Expenses 4,076,973 5,444,710
Derivative Liabilities 1,891,400 9,331,400
Total Current Liabilities 5,968,373 14,776,110
Long-Term Liabilities:    
Long-Term Debt, Net of Discounts 12,811,403 6,609,398
Total Long-Term Liabilities 12,811,403 6,609,398
Total Liabilities 18,779,776 21,385,508
COMMITMENTS AND CONTINGENCIES  
STOCKHOLDERS' EQUITY:    
Common Stock, Par Value 0.001: 990,000,000 Shares Authorized as of June 30, 2018 and December 31, 2017; 70,852,978 and 61,818,560 Shares Issued and Outstanding as of June 30, 2018 and December 31, 2017, respectively 70,853 61,819
Additional Paid-In Capital 216,839,872 181,357,715
Accumulated Deficit (127,008,525) (105,548,602)
Total Terra Tech Corp. Stockholders' Equity 89,902,200 75,870,932
Non-Controlling Interest 1,109,037 931,359
Total Stockholders' Equity 91,011,237 76,802,291
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY 109,791,013 98,187,799
Convertible Series A Preferred Stock    
STOCKHOLDERS' EQUITY:    
Preferred Stock, Value
Convertible Series B Preferred Stock    
STOCKHOLDERS' EQUITY:    
Preferred Stock, Value
XML 15 R3.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares
Jun. 30, 2018
Dec. 31, 2017
STOCKHOLDERS' EQUITY:    
Common stock, par value $ 0.001 $ 0.001
Common stock, Authorized 990,000,000 990,000,000
Common stock, Issued 70,852,978 61,818,560
Common stock, Outstanding 70,852,978 61,818,560
Convertible Series A Preferred Stock    
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, Authorized 100 100
Preferred stock, Issued 8 8
Preferred stock, Outstanding 8 8
Convertible Series B Preferred Stock    
STOCKHOLDERS' EQUITY:    
Preferred stock, par value $ 0.001 $ 0.001
Preferred stock, Authorized 49,999,900 49,999,900
Preferred stock, Issued 0 0
Preferred stock, Outstanding 0 0
XML 16 R4.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Consolidated Statements Of Operations        
Total Revenues $ 8,718,177 $ 7,842,873 $ 17,333,543 $ 14,667,329
Cost of Goods Sold 6,509,754 6,336,500 13,477,680 12,801,893
Gross Profit 2,208,423 1,506,373 3,855,863 1,865,436
Selling, General and Administrative Expenses 8,002,370 6,029,287 16,424,918 12,415,587
Loss from Operations (5,793,947) (4,522,914) (12,569,055) (10,550,151)
Other Income (Expense):        
Amortization of Debt Discount (417,363) (515,654) (885,680) (1,126,270)
Loss on Extinguishment of Debt (3,127,477) (1,639,137) (7,858,723) (2,678,595)
Gain (Loss) on Fair Market Valuation of Derivatives (1,653,000) 987,200 628,000 2,597,950
Interest Expense, Net (331,379) (130,510) (591,000) (288,343)
Loss on Fair Market Valuation of Contingent Consideration (77,286) (4,426,047)
Gain on Settlement of Contingent Consideration 4,991,571 4,991,571
Total Other Income (Expense) (5,529,219) 3,616,184 (8,707,403) (929,734)
Net Loss (11,323,166) (906,730) (21,276,458) (11,479,885)
Net Income (Loss) Attributable to Non-Controlling Interest 104,837 (452,961) 183,465 (914,128)
NET LOSS ATTRIBUTABLE TO TERRA TECH CORP. $ (11,428,003) $ (453,769) $ (21,459,923) $ (10,565,757)
Net Loss Per Common Share Attributable to Terra Tech Corp. Common Stockholders – Basic and Diluted $ (0.17) $ (0.01) $ (0.32) $ (0.28)
Weighted-Average Number of Common Shares Outstanding – Basic and Diluted 68,734,997 38,873,092 66,734,450 38,349,946
XML 17 R5.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) - USD ($)
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:    
Net Loss $ (21,276,458) $ (11,479,885)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:    
Gain on Fair Market Valuation of Derivatives (628,000) (2,597,950)
Loss on Fair Market Valuation of Contingent Consideration 4,426,047
Cancellation of shares issued (117,831)
Gain on Settlement of Contingent Consideration (4,991,571)
Loss on Extinguishment of Debt 7,858,723 2,678,595
Amortization of Debt Discount 885,680 1,126,270
Interest income Accreted (136,877)
Depreciation and Amortization 2,147,499 1,778,782
Warrants Issued with Common Stock and Debt 211,534
Stock Issued for Compensation 552,992 1,356,138
Stock Issued for Director Fees 221,973
Stock Issued for Services 123,727 591,359
Stock Option Compensation 954,698 205,019
Changes in Operating Assets and Liabilities:    
Accounts Receivable (250,748) (36,279)
Inventory 1,879,923 (1,323,742)
Prepaid Expenses and Other Current Assets (572,072) (533,808)
Other Assets (120,191) (166,925)
Accounts Payable and Accrued Expenses (1,174,458) 1,383,860
NET CASH USED IN OPERATING ACTIVITIES (9,873,393) (7,150,583)
CASH FLOWS FROM INVESTING ACTIVITIES:    
Issuance of Note Receivable (1,011,711)
Purchase of Property, Equipment and Leasehold Improvements (7,447,564) (1,036,233)
NET CASH USED IN INVESTING ACTIVITIES (8,459,275) (1,036,233)
CASH FLOWS FROM FINANCING ACTIVITIES:    
Proceeds from Issuance of Notes Payable 15,000,000 6,000,000
Cash Paid for Debt Discount (645,000) (180,000)
Proceeds from Issuance of Common Stock, Warrants and Common Stock Subscribed 3,650,000 3,750,000
Payment of Contingent Consideration (2,088,000)
Proceeds from Exercise of Warrants 76,000
Cash (Distribution) Contribution from Non-Controlling Interest (5,787) 86,550
NET CASH PROVIDED BY FINANCING ACTIVITIES 18,075,213 7,568,550
NET CHANGE IN CASH (257,455) (618,266)
NET CHANGE IN CASH CLASSIFIED WITHIN CURRENT ASSETS HELD FOR SALE (34,519)
Cash at Beginning of Period 5,445,582 9,749,572
CASH AT END OF PERIOD 5,153,608 9,131,306
SUPPLEMENTAL DISCLOSURE FOR OPERATING ACTIVITIES:    
Cash Paid for Interest 428,334
SUPPLEMENTAL DISCLOSURE FOR NON-CASH INVESTING AND FINANCING ACTIVITIES:    
Settlement of Contingent Consideration 4,739,638
Purchase of Land and Building with a Mortgage 6,500,000
Gain on Settlement of Contingent Consideration Recorded Against Additional Paid-In Capital 4,692,697
Fair Value of Debt Discount and Derivative liability Recorded 8,760,000 4,446,000
Issuance of Common Stock for Debt and Interest Expense 29,926,761 8,564,324
Claw back of Escrow Shares From The Tech Center Drive Asset Acquisition 351,072
Issuance of Common Stock for Other Assets 200,000
Fair Value of Warrants Issued for Debt Discount 475,916
Deposits Applied to the Purchase of property 3,500,000
Assets Classified as Held for Sale $ 904,352
XML 18 R6.htm IDEA: XBRL DOCUMENT v3.10.0.1
DESCRIPTION OF BUSINESS
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 1 - DESCRIPTION OF BUSINESS

Organization

 

References in this document to “the Company”, “Terra Tech”, “we”, “us”, or “our” are intended to mean Terra Tech Corp., individually, or as the context requires, collectively with its subsidiaries on a consolidated basis.

 

The Company is a vertically integrated retail, production and cultivation company, with an emphasis on providing the highest quality of medical and adult use cannabis products. The Company also holds an exclusive patent on an organic antioxidant rich Superleaf lettuce and sells living herbs that are grown using classic Dutch hydroponic farming methods.

 

The Company has a presence in three states (California, Nevada and New Jersey), and currently has cannabis operations in California and Nevada. All the Company’s cannabis dispensaries operate under the name Blüm. The Company’s cannabis dispensaries offer a broad selection of medical and adult use cannabis products including flowers, concentrates and edibles.

 

On March 12, 2018, the Company implemented a 1-for-15 reverse stock split of the Company’s common stock (the “Reverse Stock Split”). The Reverse Stock Split became effective in the stock market upon commencement of trading on March 13, 2018. As a result of the Reverse Stock Split, every fifteen shares of the Company’s Pre-Reverse Stock Split common stock were combined and reclassified into one share of the Company’s common stock. The number of shares of common stock subject to outstanding options, warrants and convertible securities were also reduced by a factor of fifteen as of March 13, 2018. All historical share and per share amounts reflected throughout unaudited consolidated financial statements have been adjusted to reflect the Reverse Stock Split. The authorized number of shares and the par value per share of the Company’s common stock were not affected by the Reverse Stock Split.

XML 19 R7.htm IDEA: XBRL DOCUMENT v3.10.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

 

The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Securities Exchange Commission (“SEC”) Form 10-Q and Article 10 of Regulation S-X of the Securities Act of 1933 and reflect the accounts and operations of the Company and those entities in which we have a controlling financial interest. In accordance with the provisions of FASB or ASC 810, “Consolidation”, we consolidate any variable interest entity (“VIE”), of which we are the primary beneficiary. The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting interests. ASC 810 requires a variable interest holder to consolidate a VIE if that party has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have determined that we are the primary beneficiary of certain VIEs. We evaluate our relationships with all the VIEs on an ongoing basis to reassess if we continue to be the primary beneficiary.

   

All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited consolidated financial statements do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the unaudited consolidated financial position of the Company as of June 30, 2018, the unaudited consolidated results of operations for the three and six months ended June 30, 2018 and 2017, and the unaudited consolidated results of cash flows for the three and six months ended June 30, 2018 and 2017 have been included. These interim unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and, therefore, should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s most recent Annual Report on Form 10-K filed with the SEC. The December 31, 2017 balances reported herein are derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 16, 2018. The results for the interim periods are not necessarily indicative of results to be expected for the full year.

 

Non-Controlling Interest

 

Non-controlling interest is shown as a component of stockholders’ equity on the consolidated balance sheets and the share of net income (loss) attributable to non-controlling interest is shown as a component of net income (loss) in the consolidated statements of operations.

 

Use of Estimates

 

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of total net revenue and expenses in the reporting periods. The Company regularly evaluates estimates and assumptions related to revenue recognition, allowances for doubtful accounts, sales returns, inventory valuation, stock-based compensation expense, goodwill and purchased intangible asset valuations, derivative liabilities, deferred income tax asset valuation allowances, uncertain tax positions, tax contingencies, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenue, costs and expenses that are not readily apparent from other sources. The actual results the Company experiences may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. The Company continues to evaluate the impact of adult use legalization in California on its sales forecasts. Certain of the Company’s assets, such as goodwill, may be negatively impacted if the Company were to decrease its California sales forecasts.

 

Reclassifications

 

Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications did not affect net loss or stockholders’ equity.

 

Assets Held for Sale

 

Assets held for sale represent furniture, equipment, and leasehold improvements less accumulated depreciation as well as any other assets that are held for sale in conjunction with the sale of a business. The Company recorded assets held for sale in accordance with ASC 360, “Property, Plant, and Equipment,” at the lower of carrying value or fair value less cost to sell. Fair value is based on the estimated proceeds from the sale of the facility utilizing recent purchase offers, market comparables and/or data. Our estimate as to fair value is regularly reviewed and subject to changes in the commercial real estate markets and our continuing evaluation as to the facility’s acceptable sale price. The reclassification takes place when the assets are available for immediate sale and the sale is highly probable. These conditions are usually met as from the date on which a letter of intent or agreement to sell is ready for signing.

   

Revenue Recognition

 

On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers” and all the related amendments, which are also codified into Accounting Standards Codification (ASC) 606. The Company elected to adopt this guidance using the modified retrospective method. The adoption of this standard did not have a material impact on the Company’s financial position or results of operations. The Company did not restate prior period information for the effects of the new standard, nor did the Company adjust the opening balance of its’ retained deficit to account for the implementation of the new requirements of this standard. The Company does not expect the adoption of this guidance to have a material effect on its’ results of operations in future periods.

 

Under the new standard, the Company recognizes a sale as follows:

 

Cannabis Dispensary, Cultivation and Production

 

The Company recognizes revenue from manufacturing and distribution product sales when our customers obtain control of our products. Revenue from our retail dispensaries is recorded at the time customers take possession of the product. Revenue from our retail dispensaries is recognized net of discounts, rebates, promotional adjustments, price adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Upon purchase, the Company has no further performance obligations and collection is assured as sales are paid for at time of purchase.

 

Revenue related to distribution customers is recorded when the customer is determined to have taken control of the product. That determination is based on the customer specific terms of the arrangement and gives consideration to factors including, but not limited to, whether the customer has an unconditional obligation to pay, whether a time period or event is specified in the arrangement and whether the Company can mandate the return or transfer of the products. Recorded revenue is net of any discounts, rebates, promotional adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority.

 

Herbs and Produce Products

 

The Company recognizes revenue from products grown in its greenhouses net of variable consideration such as estimated returns upon delivery of the product to the customer at which time control passes to the customer. Upon transfer of control, the Company has no further performance obligations.

 

For sales for which the Company uses an outside grower, the Company evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions. The evaluation considers whether the Company takes control of the products of the outside grower, whether it has the ability to direct the outside grower to provide the product to the customer on its behalf or whether it combines products from the outside grower with its own goods and services to provide the products to the customer.

 

In evaluating whether it takes control of the products of the outside grower, the Company considers whether it has primary responsibility for fulfilling the promise to provide the products, whether the Company is subject to inventory risk related to the products and whether it has the ability to set the selling prices for the products.

   

Fair Value of Financial Instruments

 

The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

 

Level 1 – Quoted prices in active markets for identical assets or liabilities.

 

Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.

 

In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has elected the fair value option to measure any eligible financial instruments.

 

Derivative Financial Instruments

 

ASC 815-40, “Derivatives and Hedging”, requires freestanding contracts that are settled in a company’s own stock, including common stock warrants, to be designated as an equity instrument, asset or a liability. Under the provisions of ASC 815-40, a contract designated as an asset or a liability must be carried at fair value on a company’s balance sheet, with any changes in fair value recorded in the company’s results of operations. A contract designated as an equity instrument must be included within equity, and no fair value adjustments are required from period to period.

 

ASC 815, “Derivatives and Hedging”, requires all derivatives to be recorded on the balance sheet at fair value. Furthermore, ASC 815 precludes contracts issued or held by a reporting entity that are both (1) indexed to its own stock and (2) classified as stockholders’ equity in its statement of financial position from being treated as derivative instruments.

 

The Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (“MCS”) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.

   

Recently Issued Accounting Standards

 

FASB ASU No. 2018-07 (Topic 718), “Compensation—Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting” Issued in June 2018, ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosure.

 

FASB ASU 2017-04 (Topic 350), “Intangibles - Goodwill and Others” – Issued in January 2017, ASU 2017-04 simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 including interim periods within those periods. The Company is currently evaluating the effect that ASU 2017-04 will have on our consolidated financial statements and related disclosures.

 

FASB ASU No. 2016-02 (Topic 842), “Leases” – Issued in February 2016, ASU No. 2016-02 will require entities to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases, including operating leases, with terms of more than 12 months. The new standard also requires additional disclosures on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosures.

XML 20 R8.htm IDEA: XBRL DOCUMENT v3.10.0.1
CONCENTRATIONS OF BUSINESS AND CREDIT RISK
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 3 - CONCENTRATIONS OF BUSINESS AND CREDIT RISK

California Licensed Vendors Requirement

 

The Company sources cannabis products for retail, cultivation and production from various vendors. However, as a result of the new regulations in the State of California, the Company’s California retail, cultivation and production operations must use vendors licensed by the State effective January 1, 2018. As a result, the Company will be dependent upon the licensed vendors in California to supply products as of that date. If the Company is unable to enter into a relationship with sufficient members of properly licensed vendors, the Company's sales may be impacted. During the three and six months ended June 30, 2018 and 2017, we did not have any concentration of vendors for inventory purchases. However, this may change depending on the number of vendors who receive appropriate licenses to operate in the State of California.

 

California Phase-In of Laboratory Testing Requirements

 

The Bureau of Cannabis Control (“BCC”) is the lead agency in developing regulations for medical and adult-use cannabis in California. The BCC is responsible for licensing retailers, distributors, testing labs and microbusinesses. Prior to July 1, 2018, the BCC allowed for a “transition period” in which they allowed exceptions from specific regulatory provisions. However, beginning July 1, 2018, cannabis goods must meet all statutory and regulatory requirements. A licensee can only sell cannabis goods that have been tested by a licensed testing laboratory and have passed all statutory and regulatory testing requirements. In order to be sold, cannabis goods harvested or manufactured prior to January 1, 2018, must be tested by a licensed testing laboratory and must comply with all testing requirements in section 5715 of the BCC’s regulations. Cannabis goods that do not meet all statutory and regulatory requirements must be destroyed in accordance with the rules pertaining to destruction.

   

The laboratory testing requirements are being phased-in three tiers. Tiers 1, 2 and 3 have compliance deadlines of January 1, 2018, July 1, 2018 and December 31, 2018, respectively. With each phased-in tier there are specific laboratory testing requirements for different types of cannabis products as outlined below:

 

             
  Phase-In of Required Laboratory Testing Inhalable Cannabis   Inhalable Cannabis Products   Other Cannabis & Cannabis Products
Tier 1 January 1, 2018          
             
  Cannabinoids Testing x   x   x
  Moisture Content Testing x        
  Category II Residual Solvents and Processing Chemicals Testing     x   x
  Category I Residual Pesticides Testing x   x   x
  Microbial Impurities Testing (A. fumigatus, A. flavus, A. niger, A. terreus) x   x    
  Microbial Impurities Testing (Escherichia coli and Salmonella spp.) x   x   x
  Homogeneity Testing of Edible Cannabis Products         x
             
Tier 2 July 1, 2018          
             
  Category I Residual Solvents and Processing Chemicals Testing     x   x
  Category II Residual Pesticides Testing x   x   x
  Foreign Material Testing x   x   x
             
Tier 3 December 31, 2018          
             
  Terpenoids Testing x   x   x
  Mycotoxins Testing x   x   x
  Heavy Metals Testing x   x   x
  Water Activity Testing of Solid or Semi-Solid Edibles x       x
             

  

On June 8, 2018 the BCC issued new guidance regarding the completion of the transition period from an unregulated to regulated state market.  This guidance was provided to issue direction on how licensees should treat inventory from 2017 and 2018, which was not completely compliant with the BCC regulations that commenced on January 1, 2018. One of these components was that, in addition to tier 1 testing, all products must meet tier 2 testing by July 1, 2018 and tier 3 testing by December 31, 2018.  While testing has not been a barrier to product availability for the Company, it is possible that as the market transitions from tier 2 to tier 3 testing, that products meeting all three tier testing requirements will be limited in nature.  Through industry discussions, the Company believes that cultivators and manufacturers are aware of the new requirements and are taking great measures to meet these requirements.  Considering that other states have similar testing requirements, the Company does not expect that these new testing standards will be an actual barrier to product availability. However, the limited number of testing labs licensed by the state to perform all required tier testing may cause a backlog or delay in testing results, which could have an impact on product availability.

XML 21 R9.htm IDEA: XBRL DOCUMENT v3.10.0.1
ASSETS HELD FOR SALE
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 4 - ASSETS HELD FOR SALE

As of June 30, 2018, there was one asset group in the Cannabis Dispensary, Cultivation and Production segment that met the criteria to be recorded as held for sale under ASC 360: (1) Management, having the authority to approve the action, committed to a plan to sell the asset, (2) The asset group was available for immediate sale in its present condition subject only to terms that are usual and customary for sales of such assets, (3) An active program to locate a buyer and other actions required to complete the plan to sell the asset group have been initiated, (4) The sale of the asset group was probable, and transfer of the asset group was expected to qualify for recognition as a completed sale, within one year, (5) The asset group was being actively marketed for sale at a price that is reasonable in relation to its current fair value, and (6) Actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. The assets related to this asset group has been classified as held for sale on the Consolidated Balance Sheets. On July 6, 2018, MediFarm LLC, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Exhale Brands Nevada III, LLC (the “Purchaser”) pursuant to which the Company agreed to sell and the Purchaser agreed to purchase substantially all of the assets of the Company related to the Company’s dispensary located at 1921 Western Ave., Las Vegas, NV 89102 (the “Business”). The aggregate consideration to be paid for the Business is $6,250,000 in cash plus the value of any inventory of the Business on the closing date. The transaction is subject to approval by the Nevada Department of Taxation and is expected to close promptly following receipt of such approval. There is no material relationship between the Company or its affiliates and the Purchaser other than in respect of the transactions contemplated by the Purchase Agreement. The Purchase Agreement contains customary conditions, representations, warranties, indemnities and covenants by, among, and for the benefit of the parties.

 

The components of assets held for sale are as follows:

 

    June 30, 2018  
         
Cash   $ 34,519  
Inventory     199,323  
Prepaid Expenses and Other Assets      41,700  
Other Assets     775  
Property, Equipment and Leasehold Improvements, Net     628,035  
         
Assets Held for Sale   $ 904,352  
XML 22 R10.htm IDEA: XBRL DOCUMENT v3.10.0.1
VARIABLE INTEREST ENTITY ARRANGEMENTS
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 5 - VARIABLE INTEREST ENTITY ARRANGEMENTS

The Company has a shared interest in two entities, MediFarm I and MediFarm I RE, with another investor for the operation of a cultivation operation and dispensary in Nevada. The entities are considered to be VIE’s and the Company is considered to be the primary beneficiary by reference to the power and benefits criterion under ASC 810, “Consolidation.” The Company has reviewed the provisions within the operating agreements and other factors which would grant the Company the power to manage and make decisions that affect the operation of these VIEs.

 

As the primary beneficiary of MediFarm I and MediFarm I RE, the Company consolidates the accounts and operations of these entities. All intercompany transactions are eliminated in the unaudited consolidated financial statements.

 

The aggregate carrying values of MediFarm I and MediFarm I RE assets and liabilities, after elimination of any intercompany transactions and balances, in the consolidated balance sheets were as follows (in thousands):

 

    June 30,     December 31,   
    2018     2017  
Current Assets:            
Cash   $ 251,508     $ 409,029  
Accounts Receivable, Net     224,259       -  
Inventory     582,657       232,231  
Prepaid Expenses and Other Current Assets     94,889       302,186  
Total Current Assets     1,153,313       943,446  
Property, Equipment and Leasehold Improvements, Net     1,890,709       1,965,103  
                 
TOTAL ASSETS    $ 3,044,022     $ 2,908,549  
                 
Current Liabilities:                
Accounts Payable and Accrued Expenses   $ 269,843     $ 319,853  
                 
TOTAL LIABILITIES   $ 269,843     $ 319,853  

XML 23 R11.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES RECEIVABLE
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 6 - NOTES RECEIVABLE

On October 26, 2017, the Company entered into agreements with NuLeaf Sparks Cultivation, LLC and NuLeaf Reno Production, LLC (collectively, “NuLeaf”) to build and operate cultivation and production facilities for our IVXX brand of cannabis products in Nevada. The agreements are subject to approval by the State of Nevada, the City of Sparks and the City of Reno in Nevada. As part of the agreements, the Company made convertible loans at the time of the agreement of $4.5 million in aggregate to the NuLeaf entities bearing an interest rate of 6% per annum. In April 2018, the Company amended the note receivable with NuLeaf to extend the maturity date to August 1, 2018. Upon approval the loans will automatically convert into a 50% ownership in the NuLeaf entities. On June 28, 2018 the Company received approval from the State of Nevada. The remaining required approvals from local authorities were received in July 2018. As a result, the notes receivable balance at June 30, 2018 was converted into a 50% ownership interest in NuLeaf in July 2018. See “Note 17 – Subsequent Events” for additional disclosure regarding changes in notes receivable subsequent to June 30, 2018.

XML 24 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 7 - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET

Property, equipment, and leasehold improvements, net consists of the following:

 

    June 30,     December 31,   
    2018     2017  
             
Land and Building   $ 19,662,334     $ 9,047,201  
Furniture and Equipment     3,715,118       3,553,587  
Computer Hardware and Software     492,801       486,176  
Leasehold Improvements     8,417,236       9,316,665  
Construction in Progress     7,594,184       1,204,547  
                 
Subtotal     39,881,673       23,608,176  
Less Accumulated Depreciation     (4,941,265 )     (4,416,560 )
                 
Property, Equipment and Leasehold Improvements, Net    $ 34,940,408     $ 19,191,616  

 

Depreciation expense related to property, equipment and leasehold improvements for the three months ended June 30, 2018 and 2017 was $540,167 and $456,659, respectively, and for the six months ended June 30, 2018 and 2017 was $1,070,737 and $919,732, respectively.

XML 25 R13.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES PAYABLE
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 8 - NOTES PAYABLE

Notes payable consists of the following: 

 

    June 30,     December 31,   
    2018     2017  
Senior convertible promissory note dated August 21, 2017, issued to accredited investors, which matures February 21, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment. The balance of the note and accrued interest was converted into common stock in January 2018.   $ -     $ 640,010  
Senior convertible promissory note dated December 26, 2017, issued to accredited investors, which matures June 26, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment.  The balance of the note and accrued interest was converted into common stock in January 2018.     -       1,469,388  
Promissory note dated November 22, 2017, issued for the purchase of real property.  Matures December 1, 2020, with an option to extend the maturity date 1 year.  The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5%.     4,500,000       4,500,000  
Promissory note dated January 18, 2018, issued for the purchase of real property.  The promissory note is collateralized by the land and building purchased and matures February 1, 2021, with an option to extend the maturity date 1 year.  The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.0%.  The full principle balance and accrued interest are due at maturity.     6,189,144       -  
Senior convertible promissory note dated June 7, 2018, issued to accredited investors under the 2018 Master Securities Purchase and Convertible Promissory Notes Agreement, which matures December 7, 2019 and bears interest at a rate of 7.5% per annum. The conversion price is $4.50, subject to adjustment.      2,122,259       -  
                 
Long-Term Debt, Net of Discounts   $ 12,811,403     $ 6,609,398  

 

Total debt as of June 30, 2018 and December 31, 2017 was $12,811,403 and $6,609,398, respectively, net of unamortized debt discount of $2,188,597 and $4,790,601, respectively. The senior convertible promissory notes are secured by shares of common stock. There was accrued interest payable of $16,250 and $21,767 as of June 30, 2018 and December 31, 2017, respectively. See “Note 17 – Subsequent Events” for additional disclosure regarding changes in notes payable subsequent to June 30, 2018.

 

Scheduled Maturities of Long-Term Debt

 

Scheduled maturities of long-term debt, including the unamortized debt discounts of $2,188,597, are as follows:

 

          Year Ending December 31,  
    Six Months Ending December 2018     2019     2020     2021     2022     2023
and thereafter
    Total  
Total Debt   $ -     $ 2,122,259     $ 4,500,000     $ 6,189,144     $ -     $ -     $ 12,811,403  
                                                         

 

Promissory Notes

 

On January 18, 2018, the Company entered into a $6,500,000 promissory note for the purchase of land and a building in California with a third-party creditor. As part of the closing of the purchase of land, the Company issued warrants with a value of approximately $164,000 and paid a cash fee of $195,000. The unamortized balance as of June 30, 2018 was $310,857. The warrants and cash fee were recorded as a debt discount. The interest rate for the first year is 12.0% and increases 0.5% per year, up to 13.0%, through 2021. Payments of interest only are due monthly. The full principle balance and accrued interest are due at maturity.

 

2018 Master Securities Purchase and Convertible Promissory Notes Agreement

 

In March 2018, the Company entered into the 2018 Master Securities Purchase Agreement with an accredited investor pursuant to which the Company sells to the accredited investor 7.5% Senior Convertible Promissory Notes in eight traunches of $5,000,000, for a total of $40,000,000.

 

For each note issued under the 2018 Master Securities Purchase Agreement, the principal and interest due and owed under the note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) the original conversion price as defined in each note issuance or (ii) 87% of the average of the two lowest daily volume weighted average price of the Common Stock in the thirteen (13) trading days prior to the conversion date (“Conversion Price”), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. Upon certain events of default, the conversion price will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect.

 

In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $10.50 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) day’s notice, that the holder convert the notes at the Conversion Price.

 

The Company may prepay in cash any portion of the outstanding principal amount of the notes and any accrued and unpaid interest by, upon ten (10) days’ written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the notes; (ii) 115% of the sum of the then-outstanding principal amount plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of the notes; or (iii) 125% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the notes.

 

During the period ended March 31, 2018, the Company issued a 7.5% convertible note for an aggregate value of $5,000,000. In April 2018, the note was converted into shares of the Company’s common stock. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash and issued approximately $116,000 of warrants in connection with the notes. The cash fee and warrants were recorded as a debt discount and fully amortized upon conversion of the note into shares of the Company’s common stock.

 

In June 2018, the Company issued a 7.5% convertible note for an aggregate value of $5,000,000. During June 2018, $1,000,000 plus interest was converted into 438,870 shares of the Company’s common stock. As of June 30, 2018, $4,000,000 principal, gross of the unamortized debt discount of $1,877,741 remains due. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash in connection with the notes. The cash fee was recorded as a debt discount.

 

2017 Master Securities Purchase and Convertible Promissory Notes Agreement

 

The Company has a Securities Purchase Agreement with an accredited investor pursuant to which the Company sells to the accredited investor Senior Convertible Promissory Notes. During the year ended December 31, 2017, the Company issued five 12% convertible notes for an aggregate value of $20,000,000 due at various dates through June 2019. Of the $20,000,000 convertible notes issued during 2017, the Company converted $13,100,000 of the convertible notes into shares of the Company’s common stock during the year ended December 31, 2017. As of December 31, 2017, $6,900,000 principal, gross of the unamortized debt discount of $4,790,602 remained due. The convertible notes outstanding as of December 31, 2017 were all converted in January 2018. In January 2018, the Company issued a 12% convertible note for an aggregate value of $5,000,000. Of the $5,000,000 convertible note issued in January, the Company converted all of the convertible note during the six months period ended June 2018. As of June 30, 2018, the related unamortized debt discount was completely amortized. There were no fees or expenses deducted from the net proceeds received by the Company in the offerings. The Company paid $150,000 in cash and issued approximately $196,000 of warrants in connection with the notes. The cash fee and warrants issued were recorded as a debt discount.

 

Conversion of Notes Payable and Related Loss on Extinguishment of Debt 

 

During the three and six months ended June 30, 2018 and 2017, the Company converted debt and accrued interest into shares of the Company’s common stock, respectively. The table below details the conversion of the notes payable into equity, the loss on extinguishment of debt and value of the Company’s common stock issued in conversion of debt for the three and six months ended June 30, 2018 and 2017:

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2018     2017     2018     2017  
Fair market value of common stock issued upon conversion    $ 12,745,924     $ 6,717,694     $ 29,926,761     $ 11,732,355  
Principal amount of debt converted      (8,500,000 )     (5,005,000 )     (17,900,000 )     (8,564,324 )
Accrued interest converted      (108,667 )     (145,121 )     (193,279 )     (274,760 )
Fair value of derivative at conversion date      (6,141,000 )     (2,901,400 )     (15,572,000 )     (5,672,050 )
Debt discount value at conversion date      5,131,220       2,972,964       11,597,241       5,457,374  
Loss on extinguishment of debt    $ 3,127,477     $ 1,639,137     $ 7,858,723     $ 2,678,595  
                                 
Common Stock Issued Upon Conversion     4,170,219       2,295,292       7,303,244       4,100,698  
XML 26 R14.htm IDEA: XBRL DOCUMENT v3.10.0.1
FAIR VALUE MEASUREMENTS
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 9 - FAIR VALUE MEASUREMENTS

Financial Assets and Liabilities Measured at Fair Value on a Recurring Basis

 

The following tables set forth the financial liabilities measured at fair value on a recurring basis by level within the fair value hierarchy as of the dates indicated:

 

   

Fair Value at

June 30,

    Fair Value Measurement Using   
Description    2018     Level 1      Level 2      Level 3   
                         
Derivative Liabilities – Conversion Feature   $ 1,891,400     $ -     $ -     $ 1,891,400  
                                 
    $ 1,891,400     $ -     $ -     $ 1,891,400  

 

           
    Fair Value at December 31,      Fair Value Measurement Using 
Description    2017     Level 1      Level 2      Level 3   
                                 
Derivative Liabilities – Conversion Feature   $ 9,331,400     $ -     $ -     $ 9,331,400  
                                 
    $ 9,331,400     $ -     $ -     $ 9,331,400  

 

The following table presents a reconciliation of the derivative liabilities measured at fair value on a recurring basis using significant unobservable inputs (Level 3):

 

Balance at December 31, 2017    $ 9,331,400  
         
Change in Fair Market Value of Conversion Feature     (628,000 )
Derivative Debt Converted into Equity     (15,572,000 )
Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt     8,760,000  
         
Balance at June 30, 2018   $ 1,891,400  

 

Effective as of June 2018, the Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (“MCS”) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.

 

Significant inputs into the Monte Carlo Simulation used to calculate the derivative values are as follows:

 

    June 2018  
Stock Price   $2.16 - $2.88  
Conversion and Exercise Price   $1.92 - $2.29  
Annual Dividend Yield     0%  
Expected Life (Years)   1.44 - 1.50  
Risk-Free Interest Rate   2.41% - 2.47%  
Expected Volatility   94.50% - 95.00%  
         

 

For derivative liabilities issued prior to June 2018, the Company estimates the fair value of the derivative liabilities using the Black-Scholes-Merton option pricing model using the following assumptions for issuances during the period ended:

 

Stock Price   $2.16 - $6.90  
Conversion and Exercise Price   $1.92 - $6.60  
Annual Dividend Yield     0%  
Expected Life (Years)   0.66 - 2.42  
Risk-Free Interest Rate   1.77% - 2.52%  
Expected Volatility   62.36% - 103.43%  
         

 

Volatility is based on historical volatility of our common stock. Historical volatility was computed using weekly pricing observations for our common stock that correspond to the expected term. This method produces an estimate that is representative of our expectations of future volatility over the expected term of these warrants and conversion features.

 

No financial assets were measured on a recurring basis as of June 30, 2018 and December 31, 2017.

 

Non-Financial Assets Measured at Fair Value on a Non-Recurring Basis

 

Non-financial assets, such as property, equipment and leasehold improvements, goodwill, and intangible assets, are required to be measured at fair value only when an impairment loss is recognized.

XML 27 R15.htm IDEA: XBRL DOCUMENT v3.10.0.1
TAX EXPENSE
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 10 - TAX EXPENSE

For the three and six months ended June 30, 2018 and 2017, the Company had no income tax expense (benefit).

 

The components of deferred income tax assets and (liabilities) are as follows:

 

    June 30,     December 31,  
    2018     2017  
Deferred Income Tax Assets:            
Net Operating Losses   $ 10,426,088     $ 8,023,000  
                 
      10,426,088       8,023,000  
Deferred Income Tax Liabilities:                
Depreciation     (926,286 )     (850,000 )
                 
Total     9,499,802       7,173,000  
Valuation Allowance     (9,499,802 )     (7,173,000 )
                 
Net Deferred Tax    $ -     $ -  

 

In December 2017 the U.S. government enacted comprehensive tax legislation commonly referred to as the Tax Cuts and Jobs Act (the “Tax Act”). The Tax Act makes broad and complex changes to the U.S. tax code that affects revaluation of deferred tax assets and liabilities to reflect the federal tax rate reduction from 35.0% to 21.0%.

 

For the three and six months ended June 30, 2018 and 2017, the Company had subsidiaries that produced and sold cannabis or cannabis pure concentrates, subjecting the Company to the limits of Internal Revenue Code (“IRC”) Section 280E. Pursuant to IRC Section 280E, the Company is allowed only to deduct expenses directly related to sales of product. The State of California does not conform to IRC Section 280E and, accordingly the Company is allowed to deduct all operating expenses on its California income tax returns. As the Company files consolidated federal income tax returns, the taxable income generated from its subsidiaries subject to IRC Section 280E has been offset by losses generated by operations not subject to IRC Section 280E. During 2017, Company amended income tax returns of our subsidiary Black Oak Gallery, a California Corporation (“Black Oak”) for the periods prior to acquisition, which resulted in a net tax refund in 2017.

 

Permanent tax differences include ordinary and necessary business expenses deemed by the Company as non-allowable deductions under IRC Section 280E; non-deductible expenses for interest, derivatives and warrant expense related to debt financings and non-deductible losses related to various acquisitions.

   

As of June 30, 2018 and December 31, 2017, the Company had net operating loss carryforwards of approximately $33,822,483 and $26,333,000, respectively, which, if unused, will expire beginning in the year 2034. These tax attributes are subject to an annual limitation from equity shifts, which constitute a change of ownership as defined under IRC Section 382, which will limit their utilization. The Company has assessed the effect of these limitations and does not believe these losses to be substantially limited. The Company also has deferred tax liabilities from the excess carrying amounts of the basis of depreciable assets for financial reporting purposes.

 

Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to use the existing deferred tax assets. A significant piece of objective negative evidence evaluated was the cumulative losses incurred in 2017 and through the six months period ended June 30, 2018. Such objective evidence limits the ability to consider other subjective evidence, such as our projections for future growth. On the basis of this evaluation, as of June 30, 2018, a valuation allowance of $9,499,802 has been recorded against all net deferred tax assets as these assets are more likely than not to be unrealized. The amount of the deferred tax asset considered realizable, however, could be adjusted if estimates of future taxable income during the carryforward period are reduced or increased or if objective negative evidence in the form of cumulative losses is no longer present and additional weight may be given to subjective evidence such as our projections for growth.

 

The Company files income tax returns in the U.S. federal jurisdiction and various state and local jurisdictions. All tax years from 2014 to 2017 are subject to examination.

XML 28 R16.htm IDEA: XBRL DOCUMENT v3.10.0.1
EQUITY
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 11 - EQUITY

Common Stock

 

During the six months ended June 30, 2018, senior secured convertible promissory notes and accrued interest in the amount of $29,926,761 were converted into 7,303,244 shares of common stock.

 

During the six months ended June 30, 2018, the Company sold 1,314,147 shares of common stock for the net amount of $3,650,000 pursuant to an equity financing facility with an accredited investor.

 

During the six months ended June 30, 2018, the Company cancelled 24,510 shares of common stock valued at $117,831, issued 44,282 shares of common stock for services performed in the amount of $123,727 and issued 173,394 shares of common stock for compensation in the amount of $552,992.

 

During the six months ended June 30, 2018, the Company issued 224,925 shares of common stock for cashless and cash exercises of warrants. The cash received from the cash exercise of warrants was $76,000.

 

During the six months ended June 30, 2018, the Company purchased an asset worth $300,000. $100,000 was paid in cash during March 2018, the remaining $200,000 was paid by issuing 53,332 shares of the Company’s common stock. 

 

During the six months ended June 30, 2018, as part of the stock split in March 2018, the Company issued 46,687 shares of common stock to round up fractional shares to all shareholders of the Company.

 

During the six months ended June 30, 2018, as part of the acquisition of Tech Center Drive in September 2017, the Company issued shares held in escrow which were to be paid six months after the acquisition date subject to any amounts to be withheld related to working capital type adjustments. As a result of the working capital adjustments, in March 2018, approximately $351,000 on the six-month anniversary date, the Company withheld and cancelled 101,083 shares.

XML 29 R17.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 12 - STOCK-BASED COMPENSATION

2016 Equity Incentive Plan

 

In the first quarter of 2016, the Company adopted the 2016 Equity Incentive Plan. The following table contains information about the 2016 Equity Incentive Plan as of June 30, 2018:

 

    Awards Reserved for Issuance     Awards Issued     Awards Available for Grant  
                   
2016 Equity Incentive Plan     30,000,000       2,044,399       27,955,601  
                         

 

Stock Options

 

The following table summarizes the Company’s stock option activity and related information for the three and six months ended June 30, 2018:

 

    Number of Shares      Weighted-Average Exercise Price Per Share      Weighted-Average Remaining Contractual Life    Aggregate Intrinsic Value of In-the-Money Options   
       
                       
Options Outstanding as of Janury 1, 2018     1,177,732     $ 2.17            
                           
Options Granted     800,000     $ 4.41            
Options Exercised     -       -            
Options Forfeited     -       -            
Options Expired     -       -            
Options Outstanding as of March 31, 2018     1,977,732     $ 3.08      9.1 Years    $ 522,600  
Options Exercisable as of Mach 31, 2018     659,774     $ 2.20      8.5 Years    $ 391,950  
                             
Options Granted     66,667     $ 3.75              
Options Exercised     -       -              
Options Forfeited     -       -              
Options Expired     -       -              
Options Outstanding as of June 30, 2018     2,044,399     $ 3.10      8.89 Years    $ 361,800  
Options Exercisable as of June 30, 2018     828,941     $ 2.38      8.42 Years    $ 301,500  

   

The aggregate intrinsic value is calculated as the difference between the Company’s closing stock price of $2.16 on June 30, 2018 and the exercise price of options, multiplied by the number of options. As of June 30, 2018, there was $3,984,837 total unrecognized stock-based compensation. Such costs are expected to be recognized over a weighted-average period of approximately 1.74 years.

 

The Company recognizes compensation expense for stock option awards on a straight-line basis over the applicable service period of the award. The service period is generally the vesting period. The following assumptions were used to calculate stock-based compensation for issuances during the six months ended June 30, 2018.

 

    June 2018  
Expected Term (years)   6.5 Years  
Volatility   126.93-128.0%  
Risk-Free Interest Rate   2.5-2.8%  
Dividend Yield     0%  
         

 

The Company does not have sufficient historical information to develop reasonable expectations about future exercise patterns and post-vesting employment termination behavior. Hence, the Company uses the “simplified method” described in Staff Accounting Bulletin 107 to estimate the expected term of share option grants.

 

The expected stock price volatility assumption was determined by examining the historical volatilities for the Company’s common stock. The Company will continue to analyze the historical stock price volatility and expected term assumptions as more historical data for the Company’s common stock becomes available.

 

The risk-free interest rate assumption is based on the U.S. treasury instruments whose term was consistent with the expected term of the Company’s stock options.

 

The expected dividend assumption is based on the Company’s history and expectation of dividend payouts. The Company has never paid dividends on its common stock and does not anticipate paying dividends on its common stock in the foreseeable future. Accordingly, the Company has assumed no dividend yield for purposes of estimating the fair value of the Company stock-based compensation.

 

The Company estimates the forfeiture rate at the time of grant and revisions, if necessary, were estimated based on management’s expectation through industry knowledge and historical data.

 

Stock-Based Compensation Expense

 

The following table sets forth the total stock-based compensation expense resulting from stock options and restricted grants of common stock to employees, directors and non-employee consultants in the consolidated statement of operations which are included in selling, general and administrative expenses:

 

    For the Three Months Ended  
    June 30, 2018     June 30, 2017  
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                           
Stock Options     66,667     $ 480,500       550,000     $ 157,430  
                                 
Stock Grants:                                
Employees (Common Stock)     91,888       264,542       102,385       294,632  
Employees (Series B Preferred Stock)     -       -       -       -  
Directors (Common Stock)     -       -       72,728       184,473  
Non–Employee Consultants (Common Stock)     37,872       107,037       159,424       446,348  
                                 
Total Stock–Based Compensation Expense           $ 852,079             $ 1,082,883  

  

    For the Six Months Ended  
    June 30, 2018     June 30, 2017  
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                           
Stock Options     866,667     $ 954,698       550,000     $ 205,019  
                                 
Stock Grants:                                
Employees (Common Stock)     173,394       552,992       109,052       320,732  
Employees (Series B Preferred Stock)     -       -       40,000       1,035,406  
Directors (Common Stock)     -       -       81,061       221,973  
Non–Employee Consultants (Common Stock)     44,282       123,727       190,600       591,359  
                                 
Total Stock–Based Compensation Expense           $ 1,631,417             $ 2,374,489  

XML 30 R18.htm IDEA: XBRL DOCUMENT v3.10.0.1
WARRANTS
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 13 - WARRANTS

The Company has the following shares of common stock reserved for exercise of the warrants outstanding as of June 30, 2018:

 

    Shares     Weighted-Average Exercise Price  
Warrants Outstanding as of January 1, 2018     1,191,367     $ 2.85  
Warrants Exercised     (283,697 )   $ 2.17  
Warrants Granted     114,636     $ 4.05  
Warrants Expired     -     $ -  
Warrants Outstanding as of March 31, 2018     1,022,306     $ 3.80  
                 
Warrants Exercised     (27,800 )   $ 0.90  
Warrants Granted     51,026     $ 2.94  
Warrants Expired     (26,710 )   $ 3.09  
Warrants Outstanding as of June 30, 2018     1,018,822     $ 3.25  

  

The following weighted-average assumptions were used to calculate the fair value of warrants issued during the period ended June 30, 2018 and 2017 using the Black Scholes option pricing model:

 

    June 30,       June 30,  
    2018       2017  
Stock Price on Date of Grant   $ 3.45     $ 4.94  
Exercise Price   $ 3.71     $ 2.64  
Volatility     118.90 %     133.54 %
Term     5.00 Yrs     5.00 Yrs
Risk-Free Interest Rate     2.50 %     1.53 %
Expected Dividend Rate     0 %     0 %

 

There were no warrants recognized as an expense for the three and six months period ended June 30, 2018. There were no warrants recognized as an expense for the three months period June 30, 2017. Warrant expense of $211,534 was recognized for the six months period June 30, 2017. Warrants of $475,916 for the six months ended June 30, 2018 were recorded for warrants issued in connection with debt and recorded as a debt discount.

 

Warrant expense was $104,499 and $211,534 for three and six months ended June 30, 2017, respectively. For the three and six months period ended June 30, 2017, there were no warrants issued in connection with debt and recorded as a debt discount.

XML 31 R19.htm IDEA: XBRL DOCUMENT v3.10.0.1
COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 14 - COMMITMENTS AND CONTINGENCIES

California Operating Licenses

 

Effective January 1, 2018 the State of California allowed for adult use cannabis sales. California’s cannabis licensing system is being implemented in two phases. First, beginning on January 1, 2018, the State began issuing temporary licenses. Temporary licenses were initially issued for 90 days, but have since been extended twice by the state. Our current temporary licenses expire on October 28, 2018. The extensions were initially provided because in May the Company had submitted all the necessary documentation for an annual license to be issued. Prior to the state completing its review of any annual licenses, the licensing authority Bureau Cannabis Control (“BCC”) determined that they would eliminate the need to have multiple licenses issued to each entity for both medical and adult use. What this meant was that the State would allow for an entity to apply for a consolidated license which allowed the entities to sell both medical and recreational cannabis. The Company has since applied for single category licenses that allow our vertically integrated activities to conduct sales in both the medical and adult use categories. The decision by the regulating authority meant that the cost of the annual licenses would also be reduced as prior to this change we would have had to apply for two licenses one in each category and they each bore a multi-thousand dollar expense. The Company’s prior licenses obtained from the local jurisdictions in which it operated in have been continued by such jurisdictions and are necessary to obtain state licensing. The Company has received a temporary license for each local jurisdiction which it had active operations. The temporary permits may be extended for an additional period of time. The Company submitted its applications for the annual permits in April 2018. Although the Company believes it will receive the necessary licenses from the State to conduct its business in a timely fashion, there is no guarantee the Company will be able to do so and any failure to do so may have a negative effect on its business and results of operations.

   

Although the possession, cultivation and distribution of cannabis for medical and adult use is permitted in California and Nevada, cannabis is a Schedule-I controlled substance and its use remains a violation of federal law. Since federal law criminalizing the use of cannabis preempts state laws that legalize its use, strict enforcement of federal law regarding cannabis would likely result in our inability to proceed with our business plan, especially in respect of our cannabis cultivation, production and dispensaries. In addition, our assets, including real property, cash, equipment and other goods, could be subject to asset forfeiture because cannabis is still federally illegal.

XML 32 R20.htm IDEA: XBRL DOCUMENT v3.10.0.1
SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 15 - SEGMENT INFORMATION

The Company’s operating and reportable segments are currently organized around the following products that it offers as part of its core business strategy:

 

  · Herbs and Produce Products – Includes herbs and leafy greens that are grown using classic Dutch hydroponic farming methods.
  · Cannabis Dispensary, Cultivation and Production – Includes cannabis-focused retail, cultivation and production.

 

Summarized financial information concerning the Company’s reportable segments is shown in the following tables. Total asset amounts at June 30, 2018 and 2017 exclude intercompany receivable balances eliminated in consolidation.

 

    For the Three Months Ended June 30, 2018
(Unaudited)
 
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
Total Revenues   $ 1,502,789     $ 7,203,971     $ 11,417     $ 8,718,177  
Cost of Goods Sold     958,694       5,551,060       -       6,509,754  
                                 
Gross Profit     544,095       1,652,911       11,417       2,208,423  
                                 
Selling, General and Administrative Expenses     994,906       2,823,524       4,183,940       8,002,370  
                                 
Loss from Operations     (450,811 )     (1,170,613 )     (4,172,523 )     (5,793,947 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (417,363 )     (417,363 )
Loss on Extinguishment of Debt     -       -       (3,127,477 )     (3,127,477 )
Loss on Fair Market Valuation of Derivatives     -       -       (1,653,000 )     (1,653,000 )
Interest Expense     -       -       (331,379 )     (331,379 )
                                 
Total Other Income (Expense)     -       -       (5,529,219 )     (5,529,219 )
                                 
Net Loss   $ (450,811 )   $ (1,170,613 )   $ (9,701,742 )   $ (11,323,166 )
                                 
Total Assets at June 30, 2018   $ 6,320,906     $ 71,591,669     $ 31,878,438     $ 109,791,013  

    

    For the Three Months Ended June 30, 2017
(Unaudited)
 
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
Total Revenues   $ 1,777,067     $ 6,049,319     $ 16,487     $ 7,842,873  
Cost of Goods Sold     1,325,729       5,010,771       -       6,336,500  
                                 
Gross Profit     451,338       1,038,548       16,487       1,506,373  
                                 
Selling, General and Administrative Expenses     855,999       2,210,475       2,962,813       6,029,287  
                    .          
Loss from Operations     (404,661 )     (1,171,927 )     (2,946,326 )     (4,522,914 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (515,654 )     (515,654 )
Loss on Extinguishment of Debt     -       -       (1,639,137 )     (1,639,137 )
Gain on Fair Market Valuation of Derivatives     -       -       987,200       987,200  
Interest Expense     -       -       (130,510 )     (130,510 )
Loss on Fair Market Valuation of Contingent Consideration     -       (77,286 )     -       (77,286 )
Gain on Settlement of Contingent Consideration     -       4,991,571       -       4,991,571  
                                 
Total Other Income (Expense)     -       4,914,285       (1,298,101 )     3,616,184  
                                 
Net Income (Loss)   $ (404,661 )   $ 3,742,358     $ (4,244,427 )   $ (906,730 )
                                 
Total Assets at June 30, 2017   $ 7,104,469     $ 60,224,138     $ 9,550,062     $ 76,878,669  

  

   

For the Six Months Ended June 30, 2018

(Unaudited)

 
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
Total Revenues   $ 2,786,690     $ 14,518,525     $ 28,328     $ 17,333,543  
Cost of Goods Sold     2,221,811       11,255,869       -       13,477,680  
                                 
Gross Profit     564,879       3,262,656       28,328       3,855,863  
                                 
Selling, General and Administrative Expenses     1,937,273       6,827,231       7,660,414       16,424,918  
                                 
Loss from Operations     (1,372,394 )     (3,564,575 )     (7,632,086 )     (12,569,055 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (885,680 )     (885,680 )
Loss on Extinguishment of Debt     -       -       (7,858,723 )     (7,858,723 )
Gain on Fair Market Valuation of Derivatives     -       -       628,000       628,000  
Interest Expense     -       (397 )     (590,603 )     (591,000 )
                                 
Total Other Income (Expense)     -       (397 )     (8,707,006 )     (8,707,403 )
                                 
Net Loss   $ (1,372,394 )   $ (3,564,972 )   $ (16,339,092 )   $ (21,276,458 )
                                 
Total Assets at June 30, 2018   $ 6,320,906     $ 71,591,669     $ 31,878,438     $ 109,791,013  

  

   

For the Six Months Ended June 30, 2017

(Unaudited)

 
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
Total Revenues   $ 2,694,210     $ 11,936,357     $ 36,762     $ 14,667,329  
Cost of Goods Sold     2,295,544       10,506,349       -       12,801,893  
                                 
Gross Profit     398,666       1,430,008       36,762       1,865,436  
                                 
Selling, General and Administrative Expenses     1,515,062       4,837,480       6,063,045       12,415,587  
                    .          
Loss from Operations     (1,116,396 )     (3,407,472 )     (6,026,283 )     (10,550,151 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (1,126,270 )     (1,126,270 )
Loss on Extinguishment of Debt     -       -       (2,678,595 )     (2,678,595 )
Gain on Fair Market Valuation of Derivatives     -       -       2,597,950       2,597,950  
Interest Expense     -       -       (288,343 )     (288,343 )
Loss on Fair Market Valuation of Contingent Consideration     -       (4,426,047 )     -       (4,426,047 )
Gain on Settlement of Contingent Consideration     -       4,991,571       -       4,991,571  
                                 
Total Other Income (Expense)     -       565,524       (1,495,258 )     (929,734 )
                                 
Net Loss   $ (1,116,396 )   $ (2,841,948 )   $ (7,521,541 )   $ (11,479,885 )
                                 
Total Assets at June 30, 2017   $ 7,104,469     $ 60,224,138     $ 9,550,062     $ 76,878,669  
XML 33 R21.htm IDEA: XBRL DOCUMENT v3.10.0.1
LITIGATION AND CLAIMS
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 16 - LITIGATION AND CLAIMS

The Company is the subject of lawsuits and claims arising in the ordinary course of business from time to time. The Company reviews any such legal proceedings and claims on an ongoing basis and follows appropriate accounting guidance when making accrual and disclosure decisions. The Company establishes accruals for those contingencies where the incurrence of a loss is probable and can be reasonably estimated, and it discloses the amount accrued and the amount of a reasonably possible loss in excess of the amount accrued if such disclosure is necessary for the Company’s financial statements to not be misleading. To estimate whether a loss contingency should be accrued by a charge to income, the Company evaluates, among other factors, the degree of probability of an unfavorable outcome and the ability to make a reasonable estimate of the amount of the loss. The Company does not record liabilities when the likelihood that the liability has been incurred is probable, but the amount cannot be reasonably estimated. Based upon present information, the Company determined that there were no matters that required an accrual as of June 30, 2018 nor were there any asserted or unasserted material claims for which material losses are reasonably possible.

   

On April 11, 2018, the Company filed a lawsuit in the United States District Court, Central District of California against Kenneth Vande Vrede, Michael Vande Vrede, Steven Vande Vrede, Daniel Vande Vrede, Greda Vande Vrede, Beverly Willekes, Brian Vande Vrede, Gro-Rite, Inc. (“Gro-Rite”) and Naturally Beautiful Plant Products, LLC (“Naturally Beautiful”) alleging breach of contract, breach of fiduciary duties, conversion, fraud, breach of covenant of good faith and fair dealing, misappropriation of trade secrets, and conspiracy related to, among other things, the Share Exchange Agreement, dated as of April 24, 2013 among the Company, the Company’s wholly-owned subsidiary, Edible Garden Corp. (“Edible Garden”), and the individual defendants (the “Share Exchange Agreement”). The Company is seeking monetary damages, including attorneys’ fees and expenses, return of shares of the Company’s common stock issued to the individual defendants under the Share Exchange Agreement, return of stock options issued to the individual defendants, and return of the Company’s intellectual property.

 

On April 10, 2018, Gro-Rite, Naturally Beautiful and Whitetown Realty (“Whitetown Realty” and collectively, the “Whitetown Realty Plaintiffs”) filed a lawsuit in the Superior Court of New Jersey Law Division, Morris County against the Company and Edible Garden alleging, among other things, that Edible Garden owes certain amounts to Gro-Rite under a Marketing and Distribution Agreement between Edible Garden and Gro-Rite, dated May 7, 2013, and Naturally Beautiful under a Marketing and Distribution Agreement between Edible Garden and Naturally Beautiful, dated May 13, 2013 (collectively, the “Marketing and Distribution Agreements”), and that Edible Garden owes certain amounts to Whitetown Realty under the Lease between Whitetown Realty and Edible Garden, dated January 1, 2015 (the “Lease”). The Whitetown Realty Plaintiffs are seeking, among other things, compensatory damages for the amounts claimed are owed and attorneys’ fees and costs. The Company believes that Edible Garden does not owe any payments under the Marketing and Distribution Agreements or the Lease. The Company disputes the Whitetown Realty Plaintiffs’ allegations in the lawsuit and intends to vigorously defend itself. Accordingly, on May 18, 2018, the Company and Edible Garden filed an answer denying the allegations of the Whitetown Realty plaintiffs.  In that same pleading, Edible Garden filed a counterclaim against Naturally Beautiful and Gro-Rite asserting claims for breach of contract, breach of the implied covenant of good faith and fair dealing, unjust enrichment, trademark infringement/unfair competition, and tortious interference with contractual relations.  Edible Garden also filed a third-party complaint against previously unidentified defendants John Doe Entities 1-10 and John Doe Individuals 1-10 arising from the wrongful misappropriation and pirating of electricity from the Edible Garden facility located at 283 Route 519, Belvidere, New Jersey.  That third-party complaint alleges claims for unjust enrichment, tortious interference with contractual relations and conversion.  On June 8, 2018, Edible Garden filed an amended counterclaim adding a count for conversion against Naturally Beautiful and Gro-Rite.  On June 12, 2018, Edible Garden Corp. filed an amended third-party complaint adding Gerda Vande Vrede as a named third-party defendant.  On June 13, 2018, Gro-Rite and Naturally Beautiful filed an answer to Edible Garden’s amended counterclaim and Gerda Vande Vrede filed an answer to Edible Garden’s amended third-party complaint denying the allegations asserted against them.  No counterclaims, crossclaims or fourth party complaints were filed on behalf of Gerda Vande Vrede, Naturally Beautiful or Gro-Rite.

  

On April 13, 2018, Edible Garden Corp. filed a lawsuit in the Superior Court of New Jersey Chancery Division, Warren County against Whitetown Realty in response to a letter from a law firm representing Whitetown Realty alleging Edible Garden was in default of the Lease. Edible Garden is seeking declaratory and equitable relief to prevent Whitetown Realty from terminating the Lease and for attorneys’ fees and costs. The Company believes that Edible Garden has made all payments due to Whitetown Realty under the Lease and maintains Edible Garden is not in default of the Lease. On April 23, 2018, by order of the assignment judge of Warren County, the lawsuit was transferred to Morris County and consolidated with the April 10, 2018 lawsuit previously filed by Gro-Rite, Naturally Beautiful and Whitetown Realty in the Superior Court of New Jersey, Law Division, Morris County.  On June 13, 2018, Whitetown Realty filed its answer to the Edible Garden Complaint.  In that answer, Whitetown Realty denies that Edible Garden is entitled to the declaratory and equitable relief that Edible Garden requested.  No counterclaim was filed by Whitetown Realty.

 

On April 11, 2018, Kenneth Vande Vrede, Michael Vande Vrede and Steven Vande Vrede (collectively, the “Vande Vrede Brothers”) filed a lawsuit in the Superior Court of New Jersey Law Division, Warren County against the Company and Edible Garden alleging, among other things, that the Company and Edible Garden improperly suspended the Vande Vrede Brothers from their positions with the Company and Edible Garden. The Vande Vrede Brothers were seeking, among other things, a declaratory judgment that they did not violate their fiduciary duties owed to the Company or Edible Garden and reinstating the Vande Vrede Brothers to their status with the Company and Edible Garden prior to their suspensions and attorneys’ fees and costs. The original complaint in this matter was never served, and on June 12, 2018, the Vande Vrede Brothers, and now David Vande Vrede, Daniel Vande Vrede, Beverly Willekes, and Whitetown Realty filed an amended complaint against Terra Tech, Edible Garden, Derek Peterson, Michael James, and Michael Nahass.  The Company filed a pre-answer motion to dismiss the amended complaint, arguing that any of the plaintiffs’ claims that relate to the Share Exchange Agreement, belong in the already existing lawsuit in California, and any of the plaintiffs’ claims that relate to the lease, belong in the already existing lawsuits in New Jersey.  The Company disputes the Vande Vredes’ allegations in the lawsuit and intends to vigorously defend itself.

XML 34 R22.htm IDEA: XBRL DOCUMENT v3.10.0.1
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2018
Notes to Financial Statements  
NOTE 17 - SUBSEQUENT EVENTS

Equity Financing Facility

 

On July 25, 2018, the Company issued a $5,000,000 convertible note to an accredited investor pursuant to the 2018 Master Securities Purchase Agreement. The convertible note matures in January 25, 2020 and accrues interest at a rate of 7.5% per year.

 

On July 25, 2018, the Company entered into a Securities Purchase Agreement with an accredited investor and issued a $150,000 convertible note. The convertible note matures in January 25, 2019 and accrues interest at a rate of 3.0% per year.

 

Debt and Interest Converted into Equity

 

Subsequent to June 30, 2018, senior convertible promissory notes and accrued interest issued under the 2018 Master Securities Purchase Agreement, in the amount of $3,000,000 and $35,938, respectively, were converted into 1,932,888 shares of common stock.

 

Option Issuances

 

In July 2018, the Company issued 945,000 options which vest quarterly over 3 years to various directors and executives.

  

Other

 

On July 26, 2018, the Company received approvals from local authorities for the change of ownership in NuLeaf. As a result, the notes receivable balance at June 30, 2018 was converted into a 50% ownership interest in NuLeaf in July 2018. See “Note 6 – Notes Receivable” for additional disclosure.

 

On July 26, 2018, the Company announced that it has secured a 25% ownership stake in The Healing Tree Collective, Inc., a cannabis dispensary operator based in California. On July 23, 2018, The Healing Tree Collective, Inc. was awarded a retail permit associated with a facility on W. Pendleton Ave, Santa Ana, by the City of Santa Ana. The remaining 75% of The Healing Tree Collective, Inc. and therefore the associated permit, is held by other members of The Healing Tree Collective, Inc., with whom the Company partnered in order to complete the permit application process. Under the terms of the agreement between the Company and the other members of The Healing Tree Collective, Inc, the Company covered the costs of the permit application and Black Oak, will be responsible for managing all of the facility’s operations, including hiring decisions. The facility is located at 3222 W. Pendleton Ave, Santa Ana, California, an area of Santa Ana in which the Company did not previously have a presence.

 

On July 24, 2018, the Company announced it has been granted two permits by the City of Santa Ana to operate one retail dispensary on Dyer Road and one on Carnegie Avenue in Santa Ana, California. The first dispensary will be located at 620 East Dyer Road, with plans to become a fully vertical cannabis complex. The second dispensary will be located at 1815 E. Carnegie Avenue.

 

On July 6, 2018, MediFarm LLC, a wholly-owned subsidiary of the Company, entered into an Asset Purchase Agreement (the “Purchase Agreement”) with Exhale Brands Nevada III, LLC (the “Purchaser”) pursuant to which the Company agreed to sell and the Purchaser agreed to purchase substantially all of the assets of the Company related to the Company’s dispensary located at 1921 Western Ave., Las Vegas, NV 89102 (the “Business”). See “Note 4 - Assets Held for Sale” for additional disclosure.

 

On July 30, 2018, the Company entered into Independent Director Agreements with Steven J. Ross (the “Ross Agreement”) and Alan Gladstone (the “Gladstone Agreement”).

XML 35 R23.htm IDEA: XBRL DOCUMENT v3.10.0.1
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Jun. 30, 2018
Summary Of Significant Accounting Policies  
Basis of Presentation

The accompanying interim unaudited consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information and with the instructions to Securities Exchange Commission (“SEC”) Form 10-Q and Article 10 of Regulation S-X of the Securities Act of 1933 and reflect the accounts and operations of the Company and those entities in which we have a controlling financial interest. In accordance with the provisions of FASB or ASC 810, “Consolidation”, we consolidate any variable interest entity (“VIE”), of which we are the primary beneficiary. The typical condition for a controlling financial interest ownership is holding a majority of the voting interests of an entity; however, a controlling financial interest may also exist in entities, such as VIEs, through arrangements that do not involve controlling voting interests. ASC 810 requires a variable interest holder to consolidate a VIE if that party has the power to direct the activities of the VIE that most significantly impact the VIE’s economic performance and the obligation to absorb losses of the VIE that could potentially be significant to the VIE or the right to receive benefits from the VIE that could potentially be significant to the VIE. We do not consolidate a VIE in which we have a majority ownership interest when we are not considered the primary beneficiary. We have determined that we are the primary beneficiary of certain VIEs. We evaluate our relationships with all the VIEs on an ongoing basis to reassess if we continue to be the primary beneficiary.

 

All intercompany accounts and transactions have been eliminated in consolidation. The accompanying interim unaudited consolidated financial statements do not include all the information and footnotes required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the unaudited consolidated financial position of the Company as of June 30, 2018, the unaudited consolidated results of operations for the three and six months ended June 30, 2018 and 2017, and the unaudited consolidated results of cash flows for the three and six months ended June 30, 2018 and 2017 have been included. These interim unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for complete financial statements and, therefore, should be read in conjunction with the consolidated financial statements and related notes contained in the Company’s most recent Annual Report on Form 10-K filed with the SEC. The December 31, 2017 balances reported herein are derived from the audited consolidated financial statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2017, filed with the SEC on March 16, 2018. The results for the interim periods are not necessarily indicative of results to be expected for the full year.

Non-Controlling Interest

Non-controlling interest is shown as a component of stockholders’ equity on the consolidated balance sheets and the share of net income (loss) attributable to non-controlling interest is shown as a component of net income (loss) in the consolidated statements of operations.

Use of Estimates

The preparation of financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the dates of the financial statements and the reported amounts of total net revenue and expenses in the reporting periods. The Company regularly evaluates estimates and assumptions related to revenue recognition, allowances for doubtful accounts, sales returns, inventory valuation, stock-based compensation expense, goodwill and purchased intangible asset valuations, derivative liabilities, deferred income tax asset valuation allowances, uncertain tax positions, tax contingencies, litigation and other loss contingencies. These estimates and assumptions are based on current facts, historical experience and various other factors that the Company believes to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities and the recording of revenue, costs and expenses that are not readily apparent from other sources. The actual results the Company experiences may differ materially and adversely from these estimates. To the extent there are material differences between the estimates and actual results, the Company’s future results of operations will be affected. The Company continues to evaluate the impact of adult use legalization in California on its sales forecasts. Certain of the Company’s assets, such as goodwill, may be negatively impacted if the Company were to decrease its California sales forecasts.

Reclassifications

Certain prior period amounts have been reclassified to conform to the current period presentation. These reclassifications did not affect net loss or stockholders’ equity.

Assets Held for Sale

Assets held for sale represent furniture, equipment, and leasehold improvements less accumulated depreciation as well as any other assets that are held for sale in conjunction with the sale of a business. The Company recorded assets held for sale in accordance with ASC 360, “Property, Plant, and Equipment,” at the lower of carrying value or fair value less cost to sell. Fair value is based on the estimated proceeds from the sale of the facility utilizing recent purchase offers, market comparables and/or data. Our estimate as to fair value is regularly reviewed and subject to changes in the commercial real estate markets and our continuing evaluation as to the facility’s acceptable sale price. The reclassification takes place when the assets are available for immediate sale and the sale is highly probable. These conditions are usually met as from the date on which a letter of intent or agreement to sell is ready for signing.

Revenue Recognition

On January 1, 2018, the Company adopted Accounting Standards Update (ASU) 2014-09, “Revenue from Contracts with Customers” and all the related amendments, which are also codified into Accounting Standards Codification (ASC) 606. The Company elected to adopt this guidance using the modified retrospective method. The adoption of this standard did not have a material impact on the Company’s financial position or results of operations. The Company did not restate prior period information for the effects of the new standard, nor did the Company adjust the opening balance of its’ retained deficit to account for the implementation of the new requirements of this standard. The Company does not expect the adoption of this guidance to have a material effect on its’ results of operations in future periods.

 

Under the new standard, the Company recognizes a sale as follows:

 

Cannabis Dispensary, Cultivation and Production

 

The Company recognizes revenue from manufacturing and distribution product sales when our customers obtain control of our products. Revenue from our retail dispensaries is recorded at the time customers take possession of the product. Revenue from our retail dispensaries is recognized net of discounts, rebates, promotional adjustments, price adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority. Upon purchase, the Company has no further performance obligations and collection is assured as sales are paid for at time of purchase.

 

Revenue related to distribution customers is recorded when the customer is determined to have taken control of the product. That determination is based on the customer specific terms of the arrangement and gives consideration to factors including, but not limited to, whether the customer has an unconditional obligation to pay, whether a time period or event is specified in the arrangement and whether the Company can mandate the return or transfer of the products. Recorded revenue is net of any discounts, rebates, promotional adjustments and returns, and net of taxes collected from customers that are remitted to governmental authorities, with the collected taxes recorded as current liabilities until remitted to the relevant government authority.

 

Herbs and Produce Products

 

The Company recognizes revenue from products grown in its greenhouses net of variable consideration such as estimated returns upon delivery of the product to the customer at which time control passes to the customer. Upon transfer of control, the Company has no further performance obligations.

 

For sales for which the Company uses an outside grower, the Company evaluates whether it is appropriate to record the gross amount of product sales and related costs or the net amount earned as commissions. The evaluation considers whether the Company takes control of the products of the outside grower, whether it has the ability to direct the outside grower to provide the product to the customer on its behalf or whether it combines products from the outside grower with its own goods and services to provide the products to the customer.

 

In evaluating whether it takes control of the products of the outside grower, the Company considers whether it has primary responsibility for fulfilling the promise to provide the products, whether the Company is subject to inventory risk related to the products and whether it has the ability to set the selling prices for the products.

Fair Value of Financial Instruments

The Company applies fair value accounting for all financial assets and liabilities and non-financial assets and liabilities that are recognized or disclosed at fair value in the financial statements on a recurring basis. The Company defines fair value as the price that would be received from selling an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. When determining the fair value measurements for assets and liabilities that are required to be recorded at fair value, the Company considers the principal or most advantageous market in which the Company would transact and the market-based risk measurements or assumptions that market participants would use in pricing the asset or liability, such as risks inherent in valuation techniques, transfer restrictions and credit risk. Fair value is estimated by applying the following hierarchy, which prioritizes the inputs used to measure fair value into three levels and bases the categorization within the hierarchy upon the lowest level of input that is available and significant to the fair value measurement:

 

Level 1 – Quoted prices in active markets for identical assets or liabilities.

 

Level 2 – Observable inputs other than quoted prices in active markets for identical assets and liabilities, quoted prices for identical or similar assets or liabilities in inactive markets, or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

 

Level 3 – Inputs that are generally unobservable and typically reflect management’s estimate of assumptions that market participants would use in pricing the asset or liability.

 

In accordance with the fair value accounting requirements, companies may choose to measure eligible financial instruments and certain other items at fair value. The Company has elected the fair value option to measure any eligible financial instruments.

Derivative Financial Instruments

ASC 815-40, “Derivatives and Hedging”, requires freestanding contracts that are settled in a company’s own stock, including common stock warrants, to be designated as an equity instrument, asset or a liability. Under the provisions of ASC 815-40, a contract designated as an asset or a liability must be carried at fair value on a company’s balance sheet, with any changes in fair value recorded in the company’s results of operations. A contract designated as an equity instrument must be included within equity, and no fair value adjustments are required from period to period.

 

ASC 815, “Derivatives and Hedging”, requires all derivatives to be recorded on the balance sheet at fair value. Furthermore, ASC 815 precludes contracts issued or held by a reporting entity that are both (1) indexed to its own stock and (2) classified as stockholders’ equity in its statement of financial position from being treated as derivative instruments.

 

The Company estimates the fair value of any new derivative liabilities using the Monte Carlo Simulation (“MCS”) technique because it provides for the necessary assumptions and inputs. The MCS technique, which is an option-based model, is a generally accepted valuation technique for valuing embedded conversion features in convertible notes, because it is an open-ended valuation model that embodies all significant assumption types, and ranges of assumption inputs that the Company agrees would likely be considered in connection with the arms-length negotiation related to the transference of the instrument by market participants. In addition to the typical assumptions in a closed-end option model, such as volatility and a risk-free rate, MCS incorporates assumptions for interest risk, credit risk and redemption behavior. In addition, MCS breaks down the time to expiration into potentially a large population of time intervals and steps. However, there may be other circumstances or considerations, other than those addressed herein, that relate to both internal and external factors that would be considered by market participants as it relates specifically to the Company and the subject financial instruments. The effects, if any, of these considerations cannot be reasonably measured, quantified or qualified.

Recently Issued Accounting Standards

FASB ASU No. 2018-07 (Topic 718), “Compensation—Stock Compensation: Improvements to Nonemployee Share-Based Payment Accounting” Issued in June 2018, ASU 2018-07 expands the scope of Topic 718 to include share-based payment transactions for acquiring goods and services from nonemployees. The amendments also clarify that Topic 718 does not apply to share-based payments used to effectively provide (1) financing to the issuer or (2) awards granted in conjunction with selling goods or services to customers as part of a contract accounted for under Topic 606, Revenue from Contracts with Customers. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosure.

 

FASB ASU 2017-04 (Topic 350), “Intangibles - Goodwill and Others” – Issued in January 2017, ASU 2017-04 simplifies how an entity is required to test goodwill for impairment by eliminating Step 2 from the goodwill impairment test. Step 2 measures a goodwill impairment loss by comparing the implied fair value of a reporting unit’s goodwill with the carrying amount of that goodwill. ASU 2017-04 is effective for annual periods beginning after December 15, 2019 including interim periods within those periods. The Company is currently evaluating the effect that ASU 2017-04 will have on our consolidated financial statements and related disclosures.

 

FASB ASU No. 2016-02 (Topic 842), “Leases” – Issued in February 2016, ASU No. 2016-02 will require entities to recognize right-of-use assets and lease liabilities on the balance sheet for the rights and obligations created by all leases, including operating leases, with terms of more than 12 months. The new standard also requires additional disclosures on the amount, timing, and uncertainty of cash flows arising from leases. These disclosures include qualitative and quantitative information. The new standard will be effective for the Company on January 1, 2019. Early adoption is permitted. The Company is in the process of evaluating the impact the adoption of this standard will have on its statements and related disclosures.

XML 36 R24.htm IDEA: XBRL DOCUMENT v3.10.0.1
ASSETS HELD FOR SALE (Tables)
6 Months Ended
Jun. 30, 2018
Assets Held For Sale  
Schedule of assets held for sale
    June 30, 2018  
         
Cash   $ 34,519  
Inventory     199,323  
Prepaid Expenses and Other Assets      41,700  
Other Assets     775  
Property, Equipment and Leasehold Improvements, Net     628,035  
         
Assets Held for Sale   $ 904,352  
XML 37 R25.htm IDEA: XBRL DOCUMENT v3.10.0.1
VARIABLE INTEREST ENTITY ARRANGEMENTS (Tables)
6 Months Ended
Jun. 30, 2018
Variable Interest Entity Arrangements  
VARIABLE INTEREST ENTITY ARRANGEMENTS
    June 30,     December 31,   
    2018     2017  
Current Assets:            
Cash   $ 251,508     $ 409,029  
Accounts Receivable, Net     224,259       -  
Inventory     582,657       232,231  
Prepaid Expenses and Other Current Assets     94,889       302,186  
Total Current Assets     1,153,313       943,446  
Property, Equipment and Leasehold Improvements, Net     1,890,709       1,965,103  
                 
TOTAL ASSETS    $ 3,044,022     $ 2,908,549  
                 
Current Liabilities:                
Accounts Payable and Accrued Expenses   $ 269,843     $ 319,853  
                 
TOTAL LIABILITIES   $ 269,843     $ 319,853  
XML 38 R26.htm IDEA: XBRL DOCUMENT v3.10.0.1
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables)
6 Months Ended
Jun. 30, 2018
Property Equipment And Leasehold Improvements Net  
Property, equipment, and leasehold improvements
    June 30,     December 31,   
    2018     2017  
             
Land and Building   $ 19,662,334     $ 9,047,201  
Furniture and Equipment     3,715,118       3,553,587  
Computer Hardware and Software     492,801       486,176  
Leasehold Improvements     8,417,236       9,316,665  
Construction in Progress     7,594,184       1,204,547  
                 
Subtotal     39,881,673       23,608,176  
Less Accumulated Depreciation     (4,941,265 )     (4,416,560 )
                 
Property, Equipment and Leasehold Improvements, Net    $ 34,940,408     $ 19,191,616  
XML 39 R27.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES PAYABLE (Tables)
6 Months Ended
Jun. 30, 2018
Notes Payable  
Notes payable
    June 30,     December 31,   
    2018     2017  
Senior convertible promissory note dated August 21, 2017, issued to accredited investors, which matures February 21, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment. The balance of the note and accrued interest was converted into common stock in January 2018.   $ -     $ 640,010  
Senior convertible promissory note dated December 26, 2017, issued to accredited investors, which matures June 26, 2019 and bears interest at a rate of 12% per annum. The conversion price is $4.50, subject to adjustment.  The balance of the note and accrued interest was converted into common stock in January 2018.     -       1,469,388  
Promissory note dated November 22, 2017, issued for the purchase of real property.  Matures December 1, 2020, with an option to extend the maturity date 1 year.  The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5%.     4,500,000       4,500,000  
Promissory note dated January 18, 2018, issued for the purchase of real property.  The promissory note is collateralized by the land and building purchased and matures February 1, 2021, with an option to extend the maturity date 1 year.  The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.0%.  The full principle balance and accrued interest are due at maturity.     6,189,144       -  
Senior convertible promissory note dated June 7, 2018, issued to accredited investors under the 2018 Master Securities Purchase and Convertible Promissory Notes Agreement, which matures December 7, 2019 and bears interest at a rate of 7.5% per annum. The conversion price is $4.50, subject to adjustment.      2,122,259       -  
                 
Long-Term Debt, Net of Discounts   $ 12,811,403     $ 6,609,398  
Scheduled Maturities of Long-Term Debt
          Year Ending December 31,  
    Six Months Ending December 2018     2019     2020     2021     2022     2023
and thereafter
    Total  
Total Debt   $ -     $ 2,122,259     $ 4,500,000     $ 6,189,144     $ -     $ -     $ 12,811,403  
Conversion of the notes payable
    Three Months Ended June 30,     Six Months Ended June 30,  
    2018     2017     2018     2017  
Fair market value of common stock issued upon conversion    $ 12,745,924     $ 6,717,694     $ 29,926,761     $ 11,732,355  
Principal amount of debt converted      (8,500,000 )     (5,005,000 )     (17,900,000 )     (8,564,324 )
Accrued interest converted      (108,667 )     (145,121 )     (193,279 )     (274,760 )
Fair value of derivative at conversion date      (6,141,000 )     (2,901,400 )     (15,572,000 )     (5,672,050 )
Debt discount value at conversion date      5,131,220       2,972,964       11,597,241       5,457,374  
Loss on extinguishment of debt    $ 3,127,477     $ 1,639,137     $ 7,858,723     $ 2,678,595  
                                 
Common Stock Issued Upon Conversion     4,170,219       2,295,292       7,303,244       4,100,698  
XML 40 R28.htm IDEA: XBRL DOCUMENT v3.10.0.1
FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2018
Fair value hierarchy financial assets measured

 

   

Fair Value at

June 30,

    Fair Value Measurement Using   
Description    2018     Level 1      Level 2      Level 3   
                         
Derivative Liabilities – Conversion Feature   $ 1,891,400     $ -     $ -     $ 1,891,400  
                                 
    $ 1,891,400     $ -     $ -     $ 1,891,400  

 

           
    Fair Value at December 31,      Fair Value Measurement Using 
Description    2017     Level 1      Level 2      Level 3   
                                 
Derivative Liabilities – Conversion Feature   $ 9,331,400     $ -     $ -     $ 9,331,400  
                                 
    $ 9,331,400     $ -     $ -     $ 9,331,400  
Reconciliation of the Derivative Liabilities measured
Balance at December 31, 2017    $ 9,331,400  
         
Change in Fair Market Value of Conversion Feature     (628,000 )
Derivative Debt Converted into Equity     (15,572,000 )
Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt     8,760,000  
         
Balance at June 30, 2018   $ 1,891,400  
Estimated fair value of derivative liabilities assumptions
    June 2018  
Stock Price   $2.16 - $2.88  
Conversion and Exercise Price   $1.92 - $2.29  
Annual Dividend Yield     0%  
Expected Life (Years)   1.44 - 1.50  
Risk-Free Interest Rate   2.41% - 2.47%  
Expected Volatility   94.50% - 95.00%  
Monte Carlo [Member]  
Estimated fair value of derivative liabilities assumptions
Stock Price   $2.16 - $6.90  
Conversion and Exercise Price   $1.92 - $6.60  
Annual Dividend Yield     0%  
Expected Life (Years)   0.66 - 2.42  
Risk-Free Interest Rate   1.77% - 2.52%  
Expected Volatility   62.36% - 103.43%  
XML 41 R29.htm IDEA: XBRL DOCUMENT v3.10.0.1
TAX EXPENSE (Tables)
6 Months Ended
Jun. 30, 2018
Tax Expense  
Deferred tax assets and liabilities

    June 30,     December 31,  
    2018     2017  
Deferred Income Tax Assets:            
Net Operating Losses   $ 10,426,088     $ 8,023,000  
                 
      10,426,088       8,023,000  
Deferred Income Tax Liabilities:                
Depreciation     (926,286 )     (850,000 )
                 
Total     9,499,802       7,173,000  
Valuation Allowance     (9,499,802 )     (7,173,000 )
                 
Net Deferred Tax    $ -     $ -  

XML 42 R30.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION (Tables)
6 Months Ended
Jun. 30, 2018
Stock-based Compensation  
Equity Incentive Plan

    Awards Reserved for Issuance     Awards Issued     Awards Available for Grant  
                   
2016 Equity Incentive Plan     30,000,000       2,044,399       27,955,601  

Stock option activity

    Number of Shares      Weighted-Average Exercise Price Per Share      Weighted-Average Remaining Contractual Life    Aggregate Intrinsic Value of In-the-Money Options   
       
                       
Options Outstanding as of Janury 1, 2018     1,177,732     $ 2.17            
                           
Options Granted     800,000     $ 4.41            
Options Exercised     -       -            
Options Forfeited     -       -            
Options Expired     -       -            
Options Outstanding as of March 31, 2018     1,977,732     $ 3.08      9.1 Years    $ 522,600  
Options Exercisable as of Mach 31, 2018     659,774     $ 2.20      8.5 Years    $ 391,950  
                             
Options Granted     66,667     $ 3.75              
Options Exercised     -       -              
Options Forfeited     -       -              
Options Expired     -       -              
Options Outstanding as of June 30, 2018     2,044,399     $ 3.10      8.89 Years    $ 361,800  
Options Exercisable as of June 30, 2018     828,941     $ 2.38      8.42 Years    $ 301,500  

Weighted-average assumptions stock-based compensation

    June 2018  
Expected Term (years)   6.5 Years  
Volatility   126.93-128.0%  
Risk-Free Interest Rate   2.5-2.8%  
Dividend Yield     0%  

Stock-Based Compensation Expense

    For the Three Months Ended  
    June 30, 2018     June 30, 2017  
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                           
Stock Options     66,667     $ 480,500       550,000     $ 157,430  
                                 
Stock Grants:                                
Employees (Common Stock)     91,888       264,542       102,385       294,632  
Employees (Series B Preferred Stock)     -       -       -       -  
Directors (Common Stock)     -       -       72,728       184,473  
Non–Employee Consultants (Common Stock)     37,872       107,037       159,424       446,348  
                                 
Total Stock–Based Compensation Expense           $ 852,079             $ 1,082,883  

  

    For the Six Months Ended  
    June 30, 2018     June 30, 2017  
Type of Award    Number of Shares or Options Granted     Stock-Based Compensation Expense      Number of Shares or Options Granted     Stock-Based Compensation Expense   
                           
Stock Options     866,667     $ 954,698       550,000     $ 205,019  
                                 
Stock Grants:                                
Employees (Common Stock)     173,394       552,992       109,052       320,732  
Employees (Series B Preferred Stock)     -       -       40,000       1,035,406  
Directors (Common Stock)     -       -       81,061       221,973  
Non–Employee Consultants (Common Stock)     44,282       123,727       190,600       591,359  
                                 
Total Stock–Based Compensation Expense           $ 1,631,417             $ 2,374,489  

 

XML 43 R31.htm IDEA: XBRL DOCUMENT v3.10.0.1
WARRANTS (Tables)
6 Months Ended
Jun. 30, 2018
Warrants  
Warrants outstanding

    Shares     Weighted-Average Exercise Price  
             
Warrants Outstanding as of January 1, 2018     1,191,367     $ 2.85  
Warrants Exercised     (283,697 )   $ 2.17  
Warrants Granted     114,636     $ 4.05  
Warrants Expired     -     $ -  
Warrants Outstanding as of March 31, 2018     1,022,306     $ 3.80  
                 
Warrants Exercised     (27,800 )   $ 0.90  
Warrants Granted     51,026     $ 2.94  
Warrants Expired     (26,710 )   $ 3.09  
Warrants Outstanding as of June 30, 2018     1,018,822     $ 3.25  

Warrants utilizing weighted-average inputs

    June 30,         June 30,        
    2018         2017        
Stock Price on Date of Grant   $ 3.45         $ 4.94        
Exercise Price   $ 3.71         $ 2.64        
Volatility     118.90     %     133.54     %  
Term     5.00     Yrs     5.00     Yrs  
Risk-Free Interest Rate     2.50     %     1.53     %  
Expected Dividend Rate     0     %     0     %  

XML 44 R32.htm IDEA: XBRL DOCUMENT v3.10.0.1
SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2018
Segment Information  
Summarized financial information

    For the Three Months Ended June 30, 2018
(Unaudited)
 
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
                         
Total Revenues   $ 1,502,789     $ 7,203,971     $ 11,417     $ 8,718,177  
Cost of Goods Sold     958,694       5,551,060       -       6,509,754  
                                 
Gross Profit     544,095       1,652,911       11,417       2,208,423  
                                 
Selling, General and Administrative Expenses     994,906       2,823,524       4,183,940       8,002,370  
                                 
Loss from Operations     (450,811 )     (1,170,613 )     (4,172,523 )     (5,793,947 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (417,363 )     (417,363 )
Loss on Extinguishment of Debt     -       -       (3,127,477 )     (3,127,477 )
Loss on Fair Market Valuation of Derivatives     -       -       (1,653,000 )     (1,653,000 )
Interest Expense     -       -       (331,379 )     (331,379 )
                                 
Total Other Income (Expense)     -       -       (5,529,219 )     (5,529,219 )
                                 
Net Loss   $ (450,811 )   $ (1,170,613 )   $ (9,701,742 )   $ (11,323,166 )
                                 
Total Assets at June 30, 2018   $ 6,320,906     $ 71,591,669     $ 31,878,438     $ 109,791,013  

    

    For the Three Months Ended June 30, 2017
(Unaudited)
 
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
                         
Total Revenues   $ 1,777,067     $ 6,049,319     $ 16,487     $ 7,842,873  
Cost of Goods Sold     1,325,729       5,010,771       -       6,336,500  
                                 
Gross Profit     451,338       1,038,548       16,487       1,506,373  
                                 
Selling, General and Administrative Expenses     855,999       2,210,475       2,962,813       6,029,287  
                    .          
Loss from Operations     (404,661 )     (1,171,927 )     (2,946,326 )     (4,522,914 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (515,654 )     (515,654 )
Loss on Extinguishment of Debt     -       -       (1,639,137 )     (1,639,137 )
Gain on Fair Market Valuation of Derivatives     -       -       987,200       987,200  
Interest Expense     -       -       (130,510 )     (130,510 )
Loss on Fair Market Valuation of Contingent Consideration     -       (77,286 )     -       (77,286 )
Gain on Settlement of Contingent Consideration     -       4,991,571       -       4,991,571  
                                 
Total Other Income (Expense)     -       4,914,285       (1,298,101 )     3,616,184  
                                 
Net Income (Loss)   $ (404,661 )   $ 3,742,358     $ (4,244,427 )   $ (906,730 )
                                 
Total Assets at June 30, 2017   $ 7,104,469     $ 60,224,138     $ 9,550,062     $ 76,878,669  

  

    For the Six Months Ended June 30, 2018 (Unaudited)  
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
                         
Total Revenues   $ 2,786,690     $ 14,518,525     $ 28,328     $ 17,333,543  
Cost of Goods Sold     2,221,811       11,255,869       -       13,477,680  
                                 
Gross Profit     564,879       3,262,656       28,328       3,855,863  
                                 
Selling, General and Administrative Expenses     1,937,273       6,827,231       7,660,414       16,424,918  
                                 
Loss from Operations     (1,372,394 )     (3,564,575 )     (7,632,086 )     (12,569,055 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (885,680 )     (885,680 )
Loss on Extinguishment of Debt     -       -       (7,858,723 )     (7,858,723 )
Gain on Fair Market Valuation of Derivatives     -       -       628,000       628,000  
Interest Expense     -       (397 )     (590,603 )     (591,000 )
                                 
Total Other Income (Expense)     -       (397 )     (8,707,006 )     (8,707,403 )
                                 
Net Loss   $ (1,372,394 )   $ (3,564,972 )   $ (16,339,092 )   $ (21,276,458 )
                                 
Total Assets at June 30, 2018   $ 6,320,906     $ 71,591,669     $ 31,878,438     $ 109,791,013  

  

    For the Six Months Ended June 30, 2017 (Unaudited)  
    Herbs and Produce Products      Cannabis Dispensary, Cultivation and Production      Eliminations and Other      Total   
                         
Total Revenues   $ 2,694,210     $ 11,936,357     $ 36,762     $ 14,667,329  
Cost of Goods Sold     2,295,544       10,506,349       -       12,801,893  
                                 
Gross Profit     398,666       1,430,008       36,762       1,865,436  
                                 
Selling, General and Administrative Expenses     1,515,062       4,837,480       6,063,045       12,415,587  
                    .          
Loss from Operations     (1,116,396 )     (3,407,472 )     (6,026,283 )     (10,550,151 )
                                 
Other Income (Expense):                                
Amortization of Debt Discount     -       -       (1,126,270 )     (1,126,270 )
Loss on Extinguishment of Debt     -       -       (2,678,595 )     (2,678,595 )
Gain on Fair Market Valuation of Derivatives     -       -       2,597,950       2,597,950  
Interest Expense     -       -       (288,343 )     (288,343 )
Loss on Fair Market Valuation of Contingent Consideration     -       (4,426,047 )     -       (4,426,047 )
Gain on Settlement of Contingent Consideration     -       4,991,571       -       4,991,571  
                                 
Total Other Income (Expense)     -       565,524       (1,495,258 )     (929,734 )
                                 
Net Loss   $ (1,116,396 )   $ (2,841,948 )   $ (7,521,541 )   $ (11,479,885 )
                                 
Total Assets at June 30, 2017   $ 7,104,469     $ 60,224,138     $ 9,550,062     $ 76,878,669  

 

XML 45 R33.htm IDEA: XBRL DOCUMENT v3.10.0.1
DESCRIPTION OF BUSINESS (Details Narrative)
6 Months Ended
Mar. 12, 2018
Jun. 30, 2018
Description Of Business    
State of Incorporation   Nevada
Reverse stock split 1-for-15  
XML 46 R34.htm IDEA: XBRL DOCUMENT v3.10.0.1
ASSETS HELD FOR SALE (Details)
Jun. 30, 2018
USD ($)
Components Of Assets Held for Sale and Liabilities Held for Sale:  
Cash $ 34,519
Inventory 199,323
Prepaid Expenses and Other Assets  41,700
Other Assets 775
Property, Equipment and Leasehold Improvements, Net 628,035
Assets Held for Sale $ 904,352
XML 47 R35.htm IDEA: XBRL DOCUMENT v3.10.0.1
ASSETS HELD FOR SALE (Details Narrative)
Jul. 06, 2018
USD ($)
Subsequent Event [Member] | MediFarm LLC [Member]  
Business consideration $ 6,250,000
XML 48 R36.htm IDEA: XBRL DOCUMENT v3.10.0.1
VARIABLE INTEREST ENTITY ARRANGEMENTS (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Current Assets:    
Cash $ 5,153,608 $ 5,445,582
Accounts Receivable, Net 1,210,446 959,698
Inventory 3,840,773 5,760,019
Prepaid Expenses and Other Current Assets 1,086,989 1,067,689
Total Current Assets 18,354,899 18,243,131
Property, Equipment and Leasehold Improvements, Net 34,940,408 19,191,616
TOTAL ASSETS 109,791,013 98,187,799
Current Liabilities:    
Accounts Payable and Accrued Expenses 4,076,973 5,444,710
Total Liabilities 18,779,776 21,385,508
Variable Interest Entity [Member]    
Current Assets:    
Cash 251,508 409,029
Accounts Receivable, Net 224,259
Inventory 582,657 232,231
Prepaid Expenses and Other Current Assets 94,889 302,186
Total Current Assets 1,153,313 943,446
Property, Equipment and Leasehold Improvements, Net 1,890,709 1,965,103
TOTAL ASSETS 3,044,022 2,908,549
Current Liabilities:    
Accounts Payable and Accrued Expenses 269,843 319,853
Total Liabilities $ 269,843 $ 319,853
XML 49 R37.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES RECEIVABLE (Details Narrative) - NuLeaf [Member]
1 Months Ended
Oct. 26, 2017
USD ($)
Convertible loans $ 4,500,000
Interest rate per annum 6.00%
Ownership percentage 50.00%
Debt maturity date Aug. 01, 2018
XML 50 R38.htm IDEA: XBRL DOCUMENT v3.10.0.1
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Property, Equipment and Leasehold Improvements, Gross $ 39,881,673 $ 23,608,176
Less Accumulated Depreciation (4,941,265) (4,416,560)
Property, Equipment and Leasehold Improvements, Net 34,940,408 19,191,616
Land and Building [Member]    
Property, Equipment and Leasehold Improvements, Gross 19,662,334 9,047,201
Furniture and Equipment [Member]    
Property, Equipment and Leasehold Improvements, Gross 3,715,118 3,553,587
Computer Hardware and Software [Member]    
Property, Equipment and Leasehold Improvements, Gross 492,801 486,176
Leasehold Improvements [Member]    
Property, Equipment and Leasehold Improvements, Gross 8,417,236 9,316,665
Construction in Progress [Member]    
Property, Equipment and Leasehold Improvements, Gross $ 7,594,184 $ 1,204,547
XML 51 R39.htm IDEA: XBRL DOCUMENT v3.10.0.1
PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Property Equipment And Leasehold Improvements Details Narrative Abstract        
Depreciation expense $ 540,167 $ 456,659 $ 1,070,737 $ 919,732
XML 52 R40.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES PAYABLE (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Notes payable $ 12,811,403 $ 6,609,398
Convertible Promissory Note [Member]    
Notes payable 640,010
Convertible Promissory Note One [Member]    
Notes payable 1,469,388
Promissory Note [Member]    
Notes payable 4,500,000 4,500,000
Promissory Note One [Member]    
Notes payable 6,189,144
Convertible Promissory Note Two [Member]    
Notes payable $ 2,122,259
XML 53 R41.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES PAYABLE (Details 1) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Notes Payable Details 1Abstract    
2019  
2020 2,122,259  
2021 4,500,000  
2022 6,189,144  
2023 and thereafter  
Total Debt $ 12,811,403 $ 6,609,398
XML 54 R42.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES PAYABLE (Details 2) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Note Payable Tables Abstract        
Fair market value of common stock issued upon conversion $ 12,745,924 $ 6,717,694 $ 29,926,761 $ 11,732,355
Principal amount of debt converted (8,500,000) (5,005,000) (17,900,000) (8,564,324)
Accrued interest converted (108,667) (145,121) (193,279) (274,760)
Fair value of derivative at conversion date (6,141,000) (2,901,400) (15,572,000) (5,672,050)
Debt discount value at conversion date 5,131,220 2,972,964 11,597,241 5,457,374
Loss on extinguishment of Debt $ 3,127,477 $ 1,639,137 $ 7,858,723 $ 2,678,595
Common Stock Issued Upon Conversion 4,170,219 2,295,292 7,303,244 4,100,698
XML 55 R43.htm IDEA: XBRL DOCUMENT v3.10.0.1
NOTES PAYABLE (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
Jun. 07, 2018
Jan. 31, 2018
Jan. 18, 2018
Dec. 26, 2017
Nov. 22, 2017
Aug. 21, 2017
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Dec. 31, 2017
Total Debt             $ 12,811,403     $ 12,811,403   $ 6,609,398
Unamortized debt discount             2,188,597     2,188,597   4,790,601
Accrued interest payable             16,250     16,250   21,767
Unamortized debt discount remaining balance             310,857     310,857    
Cash paid for debt discount                   (645,000) $ (180,000)  
Debt conversion, converted instrument, amount             (8,500,000)   $ (5,005,000) (17,900,000) $ (8,564,324)  
Convertible promissory note [Member] | 2017 Master Securities Purchase Agreement [Member]                        
Unamortized debt discount                       $ 4,790,602
Interest rate   12.00%                   12.00%
Unamortized debt discount remaining balance                       $ 6,900,000
Cash paid for debt discount   $ 150,000                    
Convertible debt aggregate value   5,000,000                   20,000,000
Issuance of convertible debt   5,000,000                   20,000,000
Debt conversion, converted instrument, amount                       13,100,000
Issuance of warrants value   $ 196,000                    
Convertible promissory note [Member] | 2018 Master Securities Purchase Agreement [Member]                        
Unamortized debt discount             $ 1,877,741     $ 1,877,741    
Interest rate             7.50% 7.50%   7.50%    
Cash paid for debt discount               $ 150,000   $ 150,000    
Convertible debt aggregate value               40,000,000        
Amount per tranches               5,000,000        
Issuance of convertible debt             $ 5,000,000     5,000,000    
Issuance of warrants value               $ 116,000        
Description of conversion price              

For each note issued under the 2018 Master Securities Purchase Agreement, the principal and interest due and owed under the note is convertible into shares of Common Stock at any time at the election of the holder at a conversion price per share equal to the lower of (i) the original conversion price as defined in each note issuance or (ii) 87% of the average of the two lowest daily volume weighted average price of the Common Stock in the thirteen (13) trading days prior to the conversion date (“Conversion Price”), which Conversion Price is subject to adjustment for (i) stock splits, stock dividends, combinations, or similar events and (ii) full ratchet anti-dilution protection. Upon certain events of default, the conversion price will automatically become 70% of the average of the three (3) lowest volume weighted average prices of the Common Stock in the twenty (20) consecutive trading days prior to the conversion date for so long as such event of default remains in effect.

 

In addition, at any time that (i) the daily volume weighted average price of the Common Stock for the prior ten (10) consecutive trading days is $10.50 or more and (ii) the average daily trading value of the Common Stock is greater than $2,500,000 for the prior ten (10) consecutive trading days, then the Company may demand, upon one (1) day’s notice, that the holder convert the notes at the Conversion Price.

   

The Company may prepay in cash any portion of the outstanding principal amount of the notes and any accrued and unpaid interest by, upon ten (10) days’ written notice to the holder, paying an amount equal to (i) 110% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is within 90 days of the issuance date of the notes; (ii) 115% of the sum of the then-outstanding principal amount plus accrued but unpaid interest, if the prepayment date is between 91 days and 180 days of the issuance date of the notes; or (iii) 125% of the sum of the then-outstanding principal amount of the notes plus accrued but unpaid interest, if the prepayment date is after 180 days of the issuance date of the notes.

 

       
Convertible debt             4,000,000     $ 4,000,000    
Common stock converted shares                   438,870    
Promissory Note [Member]                        
Interest rate escalation description        

The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.5%

             
Debt instrument maturity date         Dec. 01, 2020              
Promissory Note [Member] | Minimum [Member]                        
Interest rate         12.00%              
Promissory Note [Member] | Maximum [Member]                        
Interest rate         13.50%              
Promissory Note [Member] | California [Member] | Third- Party Creditor [Member]                        
Purchase of land and building     $ 6,500,000                  
Cash paid for debt discount     195,000                  
Issuance of warrants value     $ 164,000                  
Interest rate escalation description    

The interest rate for the first year is 12.0% and increases 0.5% per year, up to 13.0%, through 2021. Payments of interest only are due monthly.

                 
Convertible Promissory Note Two [Member]                        
Total Debt             2,122,259     $ 2,122,259  
Interest rate 7.50%                      
Conversion price $ 4.50                      
Debt instrument maturity date Dec. 07, 2019                      
Convertible Promissory Note One [Member]                        
Total Debt                   1,469,388
Interest rate       12.00%                
Interest rate escalation description    

The promissory note bears interest at 12.0% for year one and escalates 0.5% per year thereafter up to 13.0%.

                 
Conversion price       $ 4.50                
Debt instrument maturity date     Feb. 01, 2021 Jun. 26, 2019                
Convertible Promissory Note One [Member] | Minimum [Member]                        
Interest rate     12.00%                  
Convertible Promissory Note One [Member] | Maximum [Member]                        
Interest rate     13.00%                  
Convertible Promissory Note [Member]                        
Total Debt                   $ 640,010
Interest rate           12.00%            
Conversion price           $ 4.50            
Debt instrument maturity date           Feb. 21, 2019            
XML 56 R44.htm IDEA: XBRL DOCUMENT v3.10.0.1
FAIR VALUE MEASUREMENTS (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Derivative liability - Conversion Feature $ 1,891,400 $ 9,331,400
Fair value of financial liabilities 1,891,400 9,331,400
Fair Value Measurement Using, Level 1 [Member]    
Derivative liability - Conversion Feature
Fair value of financial liabilities
Fair Value Measurement Using, Level 2 [Member]    
Derivative liability - Conversion Feature
Fair value of financial liabilities
Fair Value Measurement Using, Level 3 [Member]    
Derivative liability - Conversion Feature 1,891,400 9,331,400
Fair value of financial liabilities $ 1,891,400 $ 9,331,400
XML 57 R45.htm IDEA: XBRL DOCUMENT v3.10.0.1
FAIR VALUE MEASUREMENTS (Details 1) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Liabilities measured at fair value Beginning Balance     $ 9,331,400  
Change in Fair Market Value of Conversion Feature $ 1,653,000 $ (987,200) (628,000) $ (2,597,950)
Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt     8,760,000 $ 4,446,000
Liabilities measured at fair value Ending Balance 1,891,400   1,891,400  
Fair Value Measurement Using, Level 3 [Member]        
Liabilities measured at fair value Beginning Balance     9,331,400  
Change in Fair Market Value of Conversion Feature     (628,000)  
Derivative Debt Converted into Equity     (15,572,000)  
Fair Value of Derivative Liability Recorded Upon Issuance of Convertible Debt     8,760,000  
Liabilities measured at fair value Ending Balance $ 1,891,400   $ 1,891,400  
XML 58 R46.htm IDEA: XBRL DOCUMENT v3.10.0.1
FAIR VALUE MEASUREMENTS (Details 2)
6 Months Ended
Jun. 30, 2018
$ / shares
Stock Price $ 2.16
Derivative Liabilities [Member] | Monte Carlo Simulation [Member]  
Annual Dividend Yield 0.00%
Derivative Liabilities [Member] | Black-Scholes-Merton option pricing model [Member]  
Annual Dividend Yield 0.00%
Minimum [Member] | Derivative Liabilities [Member] | Monte Carlo Simulation [Member]  
Stock Price $ 2.16
Conversion and Exercise Price $ 1.92
Expected Life (Years) 1 year 5 months 8 days
Risk-Free Interest Rate 2.41%
Expected Volatility 94.50%
Minimum [Member] | Derivative Liabilities [Member] | Black-Scholes-Merton option pricing model [Member]  
Stock Price $ 2.16
Conversion and Exercise Price $ 1.92
Expected Life (Years) 7 months 28 days
Risk-Free Interest Rate 1.77%
Expected Volatility 62.36%
Maximum [Member] | Derivative Liabilities [Member] | Monte Carlo Simulation [Member]  
Stock Price $ 2.88
Conversion and Exercise Price $ 2.29
Expected Life (Years) 1 year 6 months
Risk-Free Interest Rate 2.47%
Expected Volatility 95.00%
Maximum [Member] | Derivative Liabilities [Member] | Black-Scholes-Merton option pricing model [Member]  
Stock Price $ 6.90
Conversion and Exercise Price $ 6.60
Expected Life (Years) 2 years 5 months 1 day
Risk-Free Interest Rate 2.52%
Expected Volatility 103.43%
XML 59 R47.htm IDEA: XBRL DOCUMENT v3.10.0.1
TAX EXPENSE (Details) - USD ($)
Jun. 30, 2018
Dec. 31, 2017
Deferred Income Tax Assets:    
Net Operating Losses $ 10,426,088 $ 8,023,000
Deferred Income Tax Assets 10,426,088 8,023,000
Deferred Income Tax Liabilities:    
Depreciation (926,286) (850,000)
Total 9,499,802 7,173,000
Valuation Allowance (9,499,802) (7,173,000)
Net Deferred Tax
XML 60 R48.htm IDEA: XBRL DOCUMENT v3.10.0.1
TAX EXPENSE (Details Narrative) - USD ($)
6 Months Ended
Jun. 30, 2018
Dec. 31, 2017
Tax Expense Details Nattative Abstract    
Net operating loss carry forwards $ (33,822,483) $ (26,333,000)
Net operating loss carry forwards expiring year 2034  
Tax Cuts and Jobs Act, description

The Tax Act makes broad and complex changes to the U.S. tax code that affects revaluation of deferred tax assets and liabilities to reflect the federal tax rate reduction from 35.0% to 21.0%.

 
Valuation Allowance $ (9,499,802) $ (7,173,000)
XML 61 R49.htm IDEA: XBRL DOCUMENT v3.10.0.1
EQUITY (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Common Stock Issued Upon Conversion 4,170,219   2,295,292 7,303,244 4,100,698
Common stock shares cancelled       24,510  
Value of common stock shares cancelled       $ 117,831  
Common stock shares issued for services       44,282  
Common stock value issued for services       $ 123,727  
Common stock shares issued for compensation       173,394  
Common stock value issued for compensation       $ 552,992  
Common stock shares issued upon exercise of warrants or rights       224,925  
Proceeds from exercise of warrants or rights       $ 76,000
Amount of asset purchased       300,000  
Asset purchased, consideration paid in cash       100,000  
Asset purchased, consideration payable $ 200,000     $ 200,000  
Asset purchased shares issuable for consideration payable 53,332     53,332  
Common stock shares issued, stock split       46,687  
Senior secured convertible promissory notes [Member]          
Debt conversion converted amount       $ 29,926,761  
Common Stock Issued Upon Conversion       7,303,244  
Accredited investor [Member]          
Common stock shares sold       1,314,147  
Proceeds from sale of common stock       $ 3,650,000  
Tech Center Drive [Member]          
Business acquisition working capital adjustments amount withheld   $ 351,000      
Business acquisition, shares cancelled due to working capital adjustments   101,083      
XML 62 R50.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION (Details) - 2016 Equity Incentive Plan [Member]
Jun. 30, 2018
shares
Awards Reserved for Issuance 30,000,000
Awards Issued 2,044,399
Awards Available for Grant 27,955,601
XML 63 R51.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION (Details 1) - USD ($)
3 Months Ended
Jun. 30, 2018
Mar. 31, 2018
Number of Options    
Options/Warrants outstanding - beginning balance 1,977,732 1,177,732
Options Granted 66,667 800,000
Options Forfeited
Options Exercised
Options Expired
Options/Warrants outstanding - ending balance 2,044,399 1,977,732
Options Exercisable 828,941 659,774
Weighted average exercise price    
Options/Warrants outstanding - beginning balance $ 3.08 $ 2.17
Options Granted 3.75 4.41
Options Forfeited
Options Exercised
Options Expired
Options/Warrants outstanding - ending balance 3.10 3.08
Options Exercisable $ 2.38 $ 2.20
Weighted average remaining contracted term    
Options outstanding - ending balance 8 years 10 months 20 days 9 years 1 month 6 days
Options exercisable 8 years 5 months 1 day 8 years 6 months
Aggregate intrinsic value    
Options outstanding - ending balance $ 361,800 $ 522,600
Options Exercisable $ 301,500 $ 391,950
XML 64 R52.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION (Details 2)
6 Months Ended
Jun. 30, 2018
Expected Term (years) 6 years 6 months
Dividend Yield 0.00%
Minimum [Member]  
Volatility 126.93%
Risk-Free Interest Rate 2.50%
Maximum [Member]  
Volatility 128.00%
Risk-Free Interest Rate 2.80%
XML 65 R53.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION (Details 3) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Stock-Based Compensation Expense $ 852,079 $ 1,082,883 $ 1,631,417 $ 2,374,489
Stock Options [Member]        
Number of Shares or Options Granted 66,667 550,000 866,667 550,000
Stock-Based Compensation Expense $ 480,500 $ 157,430 $ 954,698 $ 205,019
Employees (Common Stock) [Member]        
Number of Shares or Options Granted 91,888 102,385 173,394 109,052
Stock-Based Compensation Expense $ 264,452 $ 294,632 $ 552,992 $ 320,732
Employees (Series B Preferred Stock) [Member]        
Number of Shares or Options Granted 40,000
Stock-Based Compensation Expense $ 1,035,406
Directors (Common Stock) [Member]        
Number of Shares or Options Granted 72,728 81,061
Stock-Based Compensation Expense $ 184,473 $ 221,973
Non-Employee Consultants (Common Stock) [Member]        
Number of Shares or Options Granted 37,872 159,424 44,282 190,600
Stock-Based Compensation Expense $ 107,037 $ 446,348 $ 123,727 $ 591,359
XML 66 R54.htm IDEA: XBRL DOCUMENT v3.10.0.1
STOCK-BASED COMPENSATION (Details Narrative)
6 Months Ended
Jun. 30, 2018
USD ($)
$ / shares
Stockbased Compensation Details Narrative Abstract  
Closing stock price | $ / shares $ 2.16
Unrecognized stock-based compensation | $ $ 3,984,837
Weighted-average period 1 year 8 months 26 days
XML 67 R55.htm IDEA: XBRL DOCUMENT v3.10.0.1
WARRANTS (Details) - $ / shares
3 Months Ended 6 Months Ended
Jun. 30, 2018
Mar. 31, 2018
Jun. 30, 2018
Shares      
Options/Warrants outstanding - beginning balance 1,977,732 1,177,732 1,177,732
Warrants Exercised  
Options/Warrants outstanding - ending balance 2,044,399 1,977,732 2,044,399
Weighted Average Exercise Price      
Options/Warrants outstanding - beginning balance $ 3.08 $ 2.17 $ 2.17
Warrants Exercised  
Warrants Granted 3.75 4.41  
Options/Warrants outstanding - ending balance $ 3.10 $ 3.08 $ 3.10
Warrant [Member]      
Shares      
Options/Warrants outstanding - beginning balance 1,022,306 1,191,367 1,191,367
Warrants Exercised (27,800) (283,697)  
Warrants Granted 51,026 114,636  
Warrants Expired (26,710)  
Options/Warrants outstanding - ending balance 1,018,882 1,022,306 1,018,882
Weighted Average Exercise Price      
Options/Warrants outstanding - beginning balance $ 3.80 $ 2.85 $ 2.85
Warrants Exercised 0.90 2.17  
Warrants Granted 2.94 4.05  
Warrants Expired 3.09  
Options/Warrants outstanding - ending balance $ 3.25 $ 3.80 $ 3.25
XML 68 R56.htm IDEA: XBRL DOCUMENT v3.10.0.1
WARRANTS (Details 1) - $ / shares
6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Stock Price on Date of Grant $ 2.16  
Warrant [Member]    
Stock Price on Date of Grant 3.45 $ 4.94
Exercise Price $ 3.71 $ 2.64
Volatility 118.90% 133.54%
Term 5 years 5 years
Risk-Free Interest Rate 2.50% 1.53%
Expected Dividend Rate 0.00% 0.00%
XML 69 R57.htm IDEA: XBRL DOCUMENT v3.10.0.1
WARRANTS (Details Narrative) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Warrants Details      
Fair Value of Warrants Issued for Debt Discount   $ 475,916
Warrant expense $ 104,499 $ 211,534
XML 70 R58.htm IDEA: XBRL DOCUMENT v3.10.0.1
SEGMENT INFORMATION (Details) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Total Revenues $ 8,718,177 $ 7,842,873 $ 17,333,543 $ 14,667,329
Cost of Goods Sold 6,509,754 6,336,500 13,477,680 12,801,893
Gross Profit 2,208,423 1,506,373 3,855,863 1,865,436
Selling, General and Administrative Expenses 8,002,370 6,029,287 16,424,918 12,415,587
Loss from Operations (5,793,947) (4,522,914) (12,569,055) (10,550,151)
Other Income Expense:        
Amortization of Debt Discount (417,363) (515,654) (885,680) (1,126,270)
Interest Expense (331,379) (130,510) (591,000) (288,343)
Gain on Settlement of Contingent Consideration 4,991,571 4,991,571
Total Other Income (Expense) (5,529,219) 3,616,184 (8,707,403) (929,734)
Herbs and Produce Products [Member]        
Total Revenues 1,502,789 1,777,067 2,786,690 2,694,210
Cost of Goods Sold 958,694 1,325,729 2,221,811 2,295,544
Gross Profit 544,095 451,338 564,879 398,666
Selling, General and Administrative Expenses 994,906 855,999 1,937,273 1,515,062
Loss from Operations (450,811) (404,661) (1,372,394) (1,116,396)
Other Income Expense:        
Amortization of Debt Discount
Loss on Extinguishment of Debt
Gain (Loss) on Fair Market Valuation of Derivatives
Interest Expense
Loss on Fair Market Valuation of Contingent Consideration    
Gain on Settlement of Contingent Consideration    
Total Other Income (Expense)
Net Loss (450,811) (404,661) (1,372,394) (1,116,396)
Total assets 6,320,906 7,104,469 6,320,906 7,104,469
Cannabis Dispensary Cultivation and Production [Member]        
Total Revenues 7,203,971 6,049,319 14,518,525 11,936,357
Cost of Goods Sold 5,551,060 5,010,771 11,255,869 10,506,349
Gross Profit 1,652,911 1,038,548 3,262,656 1,430,008
Selling, General and Administrative Expenses 2,823,524 2,210,475 6,827,231 4,837,480
Loss from Operations (1,170,613) (1,171,927) (3,564,575) (3,407,472)
Other Income Expense:        
Amortization of Debt Discount
Loss on Extinguishment of Debt
Gain (Loss) on Fair Market Valuation of Derivatives
Interest Expense (397)
Loss on Fair Market Valuation of Contingent Consideration   (77,286)   (4,426,047)
Gain on Settlement of Contingent Consideration   4,991,571   4,991,571
Total Other Income (Expense) 4,914,285 (397) 565,524
Net Loss (1,170,613) 3,742,358 (3,564,972) (2,841,948)
Total assets 71,591,669 60,224,138 71,591,669 60,224,138
Eliminations And Other [Member]        
Total Revenues 11,417 16,487 28,328 36,762
Cost of Goods Sold
Gross Profit 11,417 16,487 28,328 36,762
Selling, General and Administrative Expenses 4,183,940 2,962,813 7,660,414 6,063,045
Loss from Operations (4,172,523) (2,946,326) (7,632,086) (6,026,283)
Other Income Expense:        
Amortization of Debt Discount (417,363) (515,654) (885,680) (1,126,270)
Loss on Extinguishment of Debt (3,127,477) (1,639,137) (7,858,723) (2,678,595)
Gain (Loss) on Fair Market Valuation of Derivatives (1,653,000) 987,200 628,000 2,597,950
Interest Expense (331,379) (130,510) (590,603) (288,343)
Loss on Fair Market Valuation of Contingent Consideration    
Gain on Settlement of Contingent Consideration    
Total Other Income (Expense) (5,529,219) (1,298,101) (8,707,006) (1,495,258)
Net Loss (9,701,742) (4,244,427) (16,339,092) (7,521,541)
Total assets 31,878,438 9,550,062 31,878,438 9,550,062
Segment Information [Member]        
Total Revenues 8,718,177 7,842,873 17,333,543 14,667,329
Cost of Goods Sold 6,509,754 6,336,500 13,477,680 12,801,893
Gross Profit 2,208,423 1,506,373 3,855,863 1,865,436
Selling, General and Administrative Expenses 8,002,370 6,029,287 16,424,918 12,415,587
Loss from Operations (5,793,947) (4,522,914) (12,569,055) (10,550,151)
Other Income Expense:        
Amortization of Debt Discount (417,363) (515,654) (885,680) (1,126,270)
Loss on Extinguishment of Debt (3,127,477) (1,639,137) (7,858,723) (2,678,595)
Gain (Loss) on Fair Market Valuation of Derivatives (1,653,000) 987,200 628,000 2,597,950
Interest Expense (331,379) (130,510) (591,000) (288,343)
Loss on Fair Market Valuation of Contingent Consideration   (77,286)   (4,426,047)
Gain on Settlement of Contingent Consideration   4,991,571   4,991,571
Total Other Income (Expense) (5,529,219) 3,616,184 (8,707,403) (929,734)
Net Loss (11,323,166) (906,730) (21,276,458) (11,479,885)
Total assets $ 109,791,013 $ 76,878,669 $ 109,791,013 $ 76,878,669
XML 71 R59.htm IDEA: XBRL DOCUMENT v3.10.0.1
SUBSEQUENT EVENTS (Details Narrative) - USD ($)
1 Months Ended 3 Months Ended 6 Months Ended
Jul. 31, 2018
Jul. 25, 2018
Jun. 30, 2018
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Principal amount of debt converted       $ (8,500,000) $ (5,005,000) $ (17,900,000) $ (8,564,324)
Accrued interest converted       $ (108,667) $ (145,121) $ (193,279) $ (274,760)
Common Stock Issued Upon Conversion       4,170,219 2,295,292 7,303,244 4,100,698
Subsequent Event [Member] | 2018 Master Securities Purchase Agreement [Member] | Convertible promissory notes [Member]              
Principal amount of debt converted     $ 3,000,000        
Accrued interest converted     $ 35,938        
Common Stock Issued Upon Conversion     1,932,888        
Subsequent Event [Member] | 2017 Master Securities Purchase Agreement [Member] | Convertible promissory notes [Member]              
Issuance of convertible debt   $ 5,000,000          
Interest rate   7.50%          
Debt instrument maturity date   Jan. 25, 2020          
Subsequent Event [Member] | Directors and Executives [Member]              
Issuance of stock option 945,000            
Option vesting period 3 years            
Subsequent Event [Member] | Accredited investor [Member] | Securities Purchase Agreement [Member]              
Issuance of convertible debt   $ 150,000          
Interest rate   3.00%          
Debt instrument maturity date   Jan. 25, 2019          
EXCEL 72 Financial_Report.xlsx IDEA: XBRL DOCUMENT begin 644 Financial_Report.xlsx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end XML 73 Show.js IDEA: XBRL DOCUMENT /** * Rivet Software Inc. * * @copyright Copyright (c) 2006-2011 Rivet Software, Inc. All rights reserved. * Version 2.4.0.3 * */ var Show = {}; Show.LastAR = null, Show.hideAR = function(){ Show.LastAR.style.display = 'none'; }; Show.showAR = function ( link, id, win ){ if( Show.LastAR ){ Show.hideAR(); } var ref = link; do { ref = ref.nextSibling; } while (ref && ref.nodeName != 'TABLE'); if (!ref || ref.nodeName != 'TABLE') { var tmp = win ? win.document.getElementById(id) : document.getElementById(id); if( tmp ){ ref = tmp.cloneNode(true); ref.id = ''; link.parentNode.appendChild(ref); } } if( ref ){ ref.style.display = 'block'; Show.LastAR = ref; } }; Show.toggleNext = function( link ){ var ref = link; do{ ref = ref.nextSibling; }while( ref.nodeName != 'DIV' ); if( ref.style && ref.style.display && ref.style.display == 'none' ){ ref.style.display = 'block'; if( link.textContent ){ link.textContent = link.textContent.replace( '+', '-' ); }else{ link.innerText = link.innerText.replace( '+', '-' ); } }else{ ref.style.display = 'none'; if( link.textContent ){ link.textContent = link.textContent.replace( '-', '+' ); }else{ link.innerText = link.innerText.replace( '-', '+' ); } } }; XML 74 report.css IDEA: XBRL DOCUMENT /* Updated 2009-11-04 */ /* v2.2.0.24 */ /* DefRef Styles */ ..report table.authRefData{ background-color: #def; border: 2px solid #2F4497; font-size: 1em; position: absolute; } ..report table.authRefData a { display: block; font-weight: bold; } ..report table.authRefData p { margin-top: 0px; } ..report table.authRefData .hide { background-color: #2F4497; padding: 1px 3px 0px 0px; text-align: right; } ..report table.authRefData .hide a:hover { background-color: #2F4497; } ..report table.authRefData .body { height: 150px; overflow: auto; width: 400px; } ..report table.authRefData table{ font-size: 1em; } /* Report Styles */ ..pl a, .pl a:visited { color: black; text-decoration: none; } /* table */ ..report { background-color: white; border: 2px solid #acf; clear: both; color: black; font: normal 8pt Helvetica, Arial, san-serif; margin-bottom: 2em; } ..report hr { border: 1px solid #acf; } /* Top labels */ ..report th { background-color: #acf; color: black; font-weight: bold; text-align: center; } ..report th.void { background-color: transparent; color: #000000; font: bold 10pt Helvetica, Arial, san-serif; text-align: left; } ..report .pl { text-align: left; vertical-align: top; white-space: normal; width: 200px; white-space: normal; /* word-wrap: break-word; */ } ..report td.pl a.a { cursor: pointer; display: block; width: 200px; overflow: hidden; } ..report td.pl div.a { width: 200px; } ..report td.pl a:hover { background-color: #ffc; } /* Header rows... */ ..report tr.rh { background-color: #acf; color: black; font-weight: bold; } /* Calendars... */ ..report .rc { background-color: #f0f0f0; } /* Even rows... */ ..report .re, .report .reu { background-color: #def; } ..report .reu td { border-bottom: 1px solid black; } /* Odd rows... */ ..report .ro, .report .rou { background-color: white; } ..report .rou td { border-bottom: 1px solid black; } ..report .rou table td, .report .reu table td { border-bottom: 0px solid black; } /* styles for footnote marker */ ..report .fn { white-space: nowrap; } /* styles for numeric types */ ..report .num, .report .nump { text-align: right; white-space: nowrap; } ..report .nump { padding-left: 2em; } ..report .nump { padding: 0px 0.4em 0px 2em; } /* styles for text types */ ..report .text { text-align: left; white-space: normal; } ..report .text .big { margin-bottom: 1em; width: 17em; } ..report .text .more { display: none; } ..report .text .note { font-style: italic; font-weight: bold; } ..report .text .small { width: 10em; } ..report sup { font-style: italic; } ..report .outerFootnotes { font-size: 1em; } XML 76 FilingSummary.xml IDEA: XBRL DOCUMENT 3.10.0.1 html 137 257 1 false 49 0 false 4 false false R1.htm 00000001 - Document - Document and Entity Information Sheet http://terratech.com/role/DocumentAndEntityInformation Document and Entity Information Cover 1 false false R2.htm 00000002 - Statement - CONSOLIDATED BALANCE SHEETS Sheet http://terratech.com/role/ConsolidatedBalanceSheets CONSOLIDATED BALANCE SHEETS Statements 2 false false R3.htm 00000003 - Statement - CONSOLIDATED BALANCE SHEETS (Parenthetical) Sheet http://terratech.com/role/ConsolidatedBalanceSheetsParenthetical CONSOLIDATED BALANCE SHEETS (Parenthetical) Statements 3 false false R4.htm 00000004 - Statement - CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Sheet http://terratech.com/role/ConsolidatedStatementsOfOperations CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED) Statements 4 false false R5.htm 00000005 - Statement - CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Sheet http://terratech.com/role/ConsolidatedStatementsOfCashFlows CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) Statements 5 false false R6.htm 00000006 - Disclosure - DESCRIPTION OF BUSINESS Sheet http://terratech.com/role/DescriptionOfBusiness DESCRIPTION OF BUSINESS Notes 6 false false R7.htm 00000007 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Sheet http://terratech.com/role/SummaryOfSignificantAccountingPolicies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Notes 7 false false R8.htm 00000008 - Disclosure - CONCENTRATIONS OF BUSINESS AND CREDIT RISK Sheet http://terratech.com/role/ConcentrationsOfBusinessAndCreditRisk CONCENTRATIONS OF BUSINESS AND CREDIT RISK Notes 8 false false R9.htm 00000009 - Disclosure - ASSETS HELD FOR SALE Sheet http://terratech.com/role/AssetsHeldForSale ASSETS HELD FOR SALE Notes 9 false false R10.htm 00000010 - Disclosure - VARIABLE INTEREST ENTITY ARRANGEMENTS Sheet http://terratech.com/role/VariableInterestEntityArrangements VARIABLE INTEREST ENTITY ARRANGEMENTS Notes 10 false false R11.htm 00000011 - Disclosure - NOTES RECEIVABLE Notes http://terratech.com/role/NotesReceivable NOTES RECEIVABLE Notes 11 false false R12.htm 00000012 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET Sheet http://terratech.com/role/PropertyEquipmentAndLeaseholdImprovementsNet PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET Notes 12 false false R13.htm 00000013 - Disclosure - NOTES PAYABLE Notes http://terratech.com/role/NotesPayable NOTES PAYABLE Notes 13 false false R14.htm 00000014 - Disclosure - FAIR VALUE MEASUREMENTS Sheet http://terratech.com/role/FairValueMeasurements FAIR VALUE MEASUREMENTS Notes 14 false false R15.htm 00000015 - Disclosure - TAX EXPENSE Sheet http://terratech.com/role/TaxExpense TAX EXPENSE Notes 15 false false R16.htm 00000016 - Disclosure - EQUITY Sheet http://terratech.com/role/Equity EQUITY Notes 16 false false R17.htm 00000017 - Disclosure - STOCK-BASED COMPENSATION Sheet http://terratech.com/role/Stock-basedCompensation STOCK-BASED COMPENSATION Notes 17 false false R18.htm 00000018 - Disclosure - WARRANTS Sheet http://terratech.com/role/Warrants WARRANTS Notes 18 false false R19.htm 00000019 - Disclosure - COMMITMENTS AND CONTINGENCIES Sheet http://terratech.com/role/CommitmentsAndContingencies COMMITMENTS AND CONTINGENCIES Notes 19 false false R20.htm 00000020 - Disclosure - SEGMENT INFORMATION Sheet http://terratech.com/role/SegmentInformation SEGMENT INFORMATION Notes 20 false false R21.htm 00000021 - Disclosure - LITIGATION AND CLAIMS Sheet http://terratech.com/role/LitigationAndClaims LITIGATION AND CLAIMS Notes 21 false false R22.htm 00000022 - Disclosure - SUBSEQUENT EVENTS Sheet http://terratech.com/role/SubsequentEvents SUBSEQUENT EVENTS Notes 22 false false R23.htm 00000023 - Disclosure - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Sheet http://terratech.com/role/SummaryOfSignificantAccountingPoliciesPolicies SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies) Policies 23 false false R24.htm 00000024 - Disclosure - ASSETS HELD FOR SALE (Tables) Sheet http://terratech.com/role/AssetsHeldForSaleTables ASSETS HELD FOR SALE (Tables) Tables http://terratech.com/role/AssetsHeldForSale 24 false false R25.htm 00000025 - Disclosure - VARIABLE INTEREST ENTITY ARRANGEMENTS (Tables) Sheet http://terratech.com/role/VariableInterestEntityArrangementsTables VARIABLE INTEREST ENTITY ARRANGEMENTS (Tables) Tables http://terratech.com/role/VariableInterestEntityArrangements 25 false false R26.htm 00000026 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables) Sheet http://terratech.com/role/PropertyEquipmentAndLeaseholdImprovementsNetTables PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Tables) Tables http://terratech.com/role/PropertyEquipmentAndLeaseholdImprovementsNet 26 false false R27.htm 00000027 - Disclosure - NOTES PAYABLE (Tables) Notes http://terratech.com/role/NotesPayableTables NOTES PAYABLE (Tables) Tables http://terratech.com/role/NotesPayable 27 false false R28.htm 00000028 - Disclosure - FAIR VALUE MEASUREMENTS (Tables) Sheet http://terratech.com/role/FairValueMeasurementsTables FAIR VALUE MEASUREMENTS (Tables) Tables http://terratech.com/role/FairValueMeasurements 28 false false R29.htm 00000029 - Disclosure - TAX EXPENSE (Tables) Sheet http://terratech.com/role/TaxExpenseTables TAX EXPENSE (Tables) Tables http://terratech.com/role/TaxExpense 29 false false R30.htm 00000030 - Disclosure - STOCK-BASED COMPENSATION (Tables) Sheet http://terratech.com/role/Stock-basedCompensationTables STOCK-BASED COMPENSATION (Tables) Tables http://terratech.com/role/Stock-basedCompensation 30 false false R31.htm 00000031 - Disclosure - WARRANTS (Tables) Sheet http://terratech.com/role/WarrantsTables WARRANTS (Tables) Tables http://terratech.com/role/Warrants 31 false false R32.htm 00000032 - Disclosure - SEGMENT INFORMATION (Tables) Sheet http://terratech.com/role/SegmentInformationTables SEGMENT INFORMATION (Tables) Tables http://terratech.com/role/SegmentInformation 32 false false R33.htm 00000033 - Disclosure - DESCRIPTION OF BUSINESS (Details Narrative) Sheet http://terratech.com/role/DescriptionOfBusinessDetailsNarrative DESCRIPTION OF BUSINESS (Details Narrative) Details http://terratech.com/role/DescriptionOfBusiness 33 false false R34.htm 00000034 - Disclosure - ASSETS HELD FOR SALE (Details) Sheet http://terratech.com/role/AssetsHeldForSaleDetails ASSETS HELD FOR SALE (Details) Details http://terratech.com/role/AssetsHeldForSaleTables 34 false false R35.htm 00000035 - Disclosure - ASSETS HELD FOR SALE (Details Narrative) Sheet http://terratech.com/role/AssetsHeldForSaleDetailsNarrative ASSETS HELD FOR SALE (Details Narrative) Details http://terratech.com/role/AssetsHeldForSaleTables 35 false false R36.htm 00000036 - Disclosure - VARIABLE INTEREST ENTITY ARRANGEMENTS (Details) Sheet http://terratech.com/role/VariableInterestEntityArrangementsDetails VARIABLE INTEREST ENTITY ARRANGEMENTS (Details) Details http://terratech.com/role/VariableInterestEntityArrangementsTables 36 false false R37.htm 00000037 - Disclosure - NOTES RECEIVABLE (Details Narrative) Notes http://terratech.com/role/NotesReceivableDetailsNarrative NOTES RECEIVABLE (Details Narrative) Details http://terratech.com/role/NotesReceivable 37 false false R38.htm 00000038 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details) Sheet http://terratech.com/role/PropertyEquipmentAndLeaseholdImprovementsNetDetails PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details) Details http://terratech.com/role/PropertyEquipmentAndLeaseholdImprovementsNetTables 38 false false R39.htm 00000039 - Disclosure - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details Narrative) Sheet http://terratech.com/role/PropertyEquipmentAndLeaseholdImprovementsNetDetailsNarrative PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS, NET (Details Narrative) Details http://terratech.com/role/PropertyEquipmentAndLeaseholdImprovementsNetTables 39 false false R40.htm 00000040 - Disclosure - NOTES PAYABLE (Details) Notes http://terratech.com/role/NotesPayableDetails NOTES PAYABLE (Details) Details http://terratech.com/role/NotesPayableTables 40 false false R41.htm 00000041 - Disclosure - NOTES PAYABLE (Details 1) Notes http://terratech.com/role/NotesPayableDetails1 NOTES PAYABLE (Details 1) Details http://terratech.com/role/NotesPayableTables 41 false false R42.htm 00000042 - Disclosure - NOTES PAYABLE (Details 2) Notes http://terratech.com/role/NotesPayableDetails2 NOTES PAYABLE (Details 2) Details http://terratech.com/role/NotesPayableTables 42 false false R43.htm 00000043 - Disclosure - NOTES PAYABLE (Details Narrative) Notes http://terratech.com/role/NotesPayableDetailsNarrative NOTES PAYABLE (Details Narrative) Details http://terratech.com/role/NotesPayableTables 43 false false R44.htm 00000044 - Disclosure - FAIR VALUE MEASUREMENTS (Details) Sheet http://terratech.com/role/FairValueMeasurementsDetails FAIR VALUE MEASUREMENTS (Details) Details http://terratech.com/role/FairValueMeasurementsTables 44 false false R45.htm 00000045 - Disclosure - FAIR VALUE MEASUREMENTS (Details 1) Sheet http://terratech.com/role/FairValueMeasurementsDetails1 FAIR VALUE MEASUREMENTS (Details 1) Details http://terratech.com/role/FairValueMeasurementsTables 45 false false R46.htm 00000046 - Disclosure - FAIR VALUE MEASUREMENTS (Details 2) Sheet http://terratech.com/role/FairValueMeasurementsDetails2 FAIR VALUE MEASUREMENTS (Details 2) Details http://terratech.com/role/FairValueMeasurementsTables 46 false false R47.htm 00000047 - Disclosure - TAX EXPENSE (Details) Sheet http://terratech.com/role/TaxExpenseDetails TAX EXPENSE (Details) Details http://terratech.com/role/TaxExpenseTables 47 false false R48.htm 00000048 - Disclosure - TAX EXPENSE (Details Narrative) Sheet http://terratech.com/role/TaxExpenseDetailsNarrative TAX EXPENSE (Details Narrative) Details http://terratech.com/role/TaxExpenseTables 48 false false R49.htm 00000049 - Disclosure - EQUITY (Details Narrative) Sheet http://terratech.com/role/EquityDetailsNarrative EQUITY (Details Narrative) Details http://terratech.com/role/Equity 49 false false R50.htm 00000050 - Disclosure - STOCK-BASED COMPENSATION (Details) Sheet http://terratech.com/role/Stock-basedCompensationDetails STOCK-BASED COMPENSATION (Details) Details http://terratech.com/role/Stock-basedCompensationTables 50 false false R51.htm 00000051 - Disclosure - STOCK-BASED COMPENSATION (Details 1) Sheet http://terratech.com/role/Stock-basedCompensationDetails1 STOCK-BASED COMPENSATION (Details 1) Details http://terratech.com/role/Stock-basedCompensationTables 51 false false R52.htm 00000052 - Disclosure - STOCK-BASED COMPENSATION (Details 2) Sheet http://terratech.com/role/Stock-basedCompensationDetails2 STOCK-BASED COMPENSATION (Details 2) Details http://terratech.com/role/Stock-basedCompensationTables 52 false false R53.htm 00000053 - Disclosure - STOCK-BASED COMPENSATION (Details 3) Sheet http://terratech.com/role/Stock-basedCompensationDetails3 STOCK-BASED COMPENSATION (Details 3) Details http://terratech.com/role/Stock-basedCompensationTables 53 false false R54.htm 00000054 - Disclosure - STOCK-BASED COMPENSATION (Details Narrative) Sheet http://terratech.com/role/Stock-basedCompensationDetailsNarrative STOCK-BASED COMPENSATION (Details Narrative) Details http://terratech.com/role/Stock-basedCompensationTables 54 false false R55.htm 00000055 - Disclosure - WARRANTS (Details) Sheet http://terratech.com/role/WarrantsDetails WARRANTS (Details) Details http://terratech.com/role/WarrantsTables 55 false false R56.htm 00000056 - Disclosure - WARRANTS (Details 1) Sheet http://terratech.com/role/WarrantsDetails1 WARRANTS (Details 1) Details http://terratech.com/role/WarrantsTables 56 false false R57.htm 00000057 - Disclosure - WARRANTS (Details Narrative) Sheet http://terratech.com/role/WarrantsDetailsNarrative WARRANTS (Details Narrative) Details http://terratech.com/role/WarrantsTables 57 false false R58.htm 00000058 - Disclosure - SEGMENT INFORMATION (Details) Sheet http://terratech.com/role/SegmentInformationDetails SEGMENT INFORMATION (Details) Details http://terratech.com/role/SegmentInformationTables 58 false false R59.htm 00000059 - Disclosure - SUBSEQUENT EVENTS (Details Narrative) Sheet http://terratech.com/role/SubsequentEventsDetailsNarrative SUBSEQUENT EVENTS (Details Narrative) Details http://terratech.com/role/SubsequentEvents 59 false false All Reports Book All Reports trtc-20180630.xml trtc-20180630.xsd trtc-20180630_cal.xml trtc-20180630_def.xml trtc-20180630_lab.xml trtc-20180630_pre.xml http://xbrl.sec.gov/dei/2014-01-31 http://fasb.org/us-gaap/2017-01-31 true true ZIP 78 0001477932-18-003910-xbrl.zip IDEA: XBRL DOCUMENT begin 644 0001477932-18-003910-xbrl.zip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