Stockholders Equity

3 Months Ended

Mar. 31, 2021

Equity [Abstract]

Stockholders Equity

Note 13. Shareholders’ Equity

Preferred Stock

American Cannabis Company, Inc. is authorized to issue 5,000,000 shares of preferred stock at $0.01 par value. No shares of preferred stock were issued and outstanding at March 31, 2021 and December 31, 2020, respectively.

Common Stock

During the three months ended March 31, 2021, the Company issued 5,550,000 registered shares of common stock in exchange for net proceeds of $998,292 pursuant to the Common Stock Purchase Agreement entered into on October 11, 2019 with White Lion Capital LLC.

During the three months ended March 31, 2021, warrants with a cashless exercise provision were exercised for 100,000 restricted shares by an officer/director of the Company.

During the three months ended March 31, 2020, the Company issued 478,261 shares of restricted shares granted during the fiscal year ended December 31, 2019.