Acacia Diversified Holdings, Inc.

CIK:0001001463|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended		6 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	Jun. 30, 2020	Jun. 30, 2019	Jun. 30, 2020	Jun. 30, 2019
SELLING, GENERAL AND ADMINISTRATIVE EXPENSES
Employee compensation expenses	$ 0	$ 144,094	$ 97,304	$ 273,229
General and administrative expenses	24,906	30,016	93,766	105,656
	24,906	174,110	191,070	378,885
LOSS FROM OPERATIONS	(24,906)	(174,110)	(191,070)	(378,885)
OTHER INCOME (EXPENSE)
Derivative income (expense)	(79,894)	(214,308)	42,512	(187,128)
Interest expense	(19,255)	(25,544)	(40,755)	(46,306)
TOTAL OTHER INCOME (EXPENSE)	(99,149)	(239,852)	1,757	(233,434)
NET LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAXES	(124,055)	(413,962)	(189,313)	(612,319)
Income taxes	0	0	0	0
NET LOSS FROM CONTINUING OPERATIONS	(124,055)	(413,962)	(189,313)	(612,319)
DISCONTINUED OPERATIONS
Loss from discontinued operations	0	(95,952)	(140,353)	(95,620)
Gain on disposal of net assets of discontinued operations	724,286	0	724,286	0
	724,286	(95,952)	583,933	(95,620)
Income taxes	0	0	0	0
INCOME (LOSS) FROM DISCONTINUED OPERATIONS, NET OF TAX	724,286	(95,952)	583,933	(95,620)
NET INCOME (LOSS)	$ 600,231	$ (509,914)	$ 394,620	$ (707,939)
NET LOSS PER COMMON SHARE:
Net loss from continuing operations per common share - basic and diluted (in Dollars per share)	$ 0.00	$ (0.01)	$ 0.00	$ (0.02)
Net income from discontinued operations per common share - basic and diluted (in Dollars per share)	0.01	0.00	0.01	0.00
NET INCOME (LOSS) PER COMMON SHARE, BASIC AND DILUTED (in Dollars per share)	$ 0.01	$ (0.02)	$ 0.01	$ (0.03)
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING, BASIC AND DILUTED (in Shares)	48,617,529	28,008,747	44,745,821	25,353,695

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	6 Months Ended
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	Jun. 30, 2020	Jun. 30, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss from continuing operations	$ (189,313)	$ (612,319)
Net income (loss) from discontinued operations	583,933	(95,620)
Adjustments to reconcile net loss from continuing operations to net cash and cash equivalents used by operating activities:
Common stock issued for services	5,931	171,057
Common stock issued from employee stock plan	6,996	45,418
Original issue discount on convertible note payable	0	8,500
Amortization of debt discount	0	3,000
Accrued interest on notes payable to related parties	(116,629)	30,187
Gain on disposition of net assets of discontinued operations	(724,286)	0
Derivative expense (income)	(42,512)	187,128
(Increase) decrease in:
Prepaid expenses and other current assets	841	0
Increase (decrease) in:
Accounts payable and accrued expenses	366,878	(32,096)
Payable to related parties	12,000	8,000
Net cash used by operating activities from continuing operations	(96,161)	(286,745)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	0	91,200
Proceeds from issuance of convertible note payable	0	82,000
Proceeds from issuance of notes payable to related parties	49,928	35,000
Net cash provided by financing activities from continuing operations	49,928	208,200
Net cash used by continuing operations	(46,233)	(78,545)
CASH FLOWS - DISCONTINUED OPERATIONS:
Net cash provided by operating activities of discontinued operations	20,182	144,531
Net cash used in investing activities of discontinued operations	0	(32,572)
Net cash used in financing activities of discontinued operations	(3,293)	(6,445)
Net cash provided by discontinued operations	16,889	105,514
Net (decrease) increase in cash and cash equivalents	(29,344)	26,969
Less: net (decrease) increase in cash and cash equivalents from discontinued operations	27,149	14,914
Net (decrease) increase in cash and cash equivalents from continuing operations	(2,195)	41,883
Cash and cash equivalents, beginning of the year	2,616	1,060
Cash and cash equivalents, end of the year	421	42,943
Continuing operations
Cash paid for interest	0	0
Cash paid for income taxes	0	0
Discontinued operations
Cash paid for interest	3,221	0
Cash paid for income taxes	0	0
NON-CASH FINANCING AND INVESTING ACTIVITIES FROM CONTINUING OPERATIONS:
Common issued to related party to settle accrued expense	0	8,000
Common issued to related party to settle notes payable and accrued interest	0	122,984
Common stock issued for conversion of convertible notes payable and accrued interest	107,050	174,200
Settlement of derivative liability from conversion of convertible notes payable	101,763	230,939
Issuance of convertible note payable to settle accounts payable	103,000	0
Issuance of preferred stock	1,475	0
NON-CASH FINANCING AND INVESTING ACTIVITIES FROM DISCONTINUED OPERATIONS:
Acquisition of ROU asset - finance lease	0	182,041
Acquisition of ROU asset - operating lease	$ 0	$ 29,655

CONSOLIDATED BALANCE SHEETS - USD ($)	Jun. 30, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash	$ 421	$ 2,616
Prepaid expenses and other current assets	4,334	4,335
Current assets of discontinued operations	0	129,367
Total Current Assets	4,755	136,318
OTHER ASSETS
Deposits	0	841
Non-current assets of discontinued operations	0	517,078
	0	517,919
TOTAL ASSETS	4,755	654,237
CURRENT LIABILITIES:
Accounts payable and accrued expenses	388,778	282,705
Convertible notes payable	264,300	264,100
Notes payable to related parties	0	752,400
Accrued interest on notes payable to related parties	0	116,629
Payable to related parties	10,525	35,348
Current liabilities of discontinued operations	0	160,347
Total Current Liabilities	663,603	1,611,529
LONG-TERM LIABILITY:
Derivative liability	237,055	381,330
Long-term liabilities of discontinued operations	0	175,116
Total Long-term Liability	237,055	556,446
Total Liabilities	900,658	2,167,975
Commitments and contingencies
STOCKHOLDERS' DEFICIT
Series B Convertible preferred stock, $0.001 par value; 2,000,000 shares authorized; 1,475,000 shares issued and outstanding at June 30, 2020	1,475	0
Common stock, $0.001 par value; 150,000,000 shares authorized; 52,481,499 and 39,583,543 shares issued and outstanding at June 30, 2020 and December 31, 2019, respectively	52,482	39,584
Additional paid-in capital	6,915,499	6,706,657
Accumulated deficit	(7,865,359)	(8,259,979)
Total Stockholders' Deficit	(895,903)	(1,513,738)
TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT	$ 4,755	$ 654,237