10-Q Filing

VERITAS FARMS, INC. CIK: 1669400 Q3 2017

Filing Information

Form Type	10-Q
Accession Number	`0001615774-17-007271`
Period End Date	20170930
Filing Date	20171211
Fiscal Year	2017
Fiscal Period	Q3
XBRL Instance	sswh-20170930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 60 Cash Flow Statement 48

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$73.32K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$222.15K	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, par value (in dollars per share)	`CommonStockParOrStatedValuePerShare`	$0.00	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.25K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$17.79K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.59K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$52.07K	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	58.50M	shares	Point-in-time
Inventories	`InventoryNet`	$659.05K	USD	Point-in-time
Inventories	`InventoryNet`	$1.59M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	60.54M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	-	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$3.92K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	60.54M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	58.50M	shares	Point-in-time
Total Current Assets	`AssetsCurrent`	$754.64K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.69M	USD	Point-in-time
PROPERTY PLANT AND EQUIPMENT, net of accumulated depreciation of $222,151 and $73,318, respectively	`PropertyPlantAndEquipmentNet`	$4.21M	USD	Point-in-time
PROPERTY PLANT AND EQUIPMENT, net of accumulated depreciation of $222,151 and $73,318, respectively	`PropertyPlantAndEquipmentNet`	$4.44M	USD	Point-in-time
Land - held for investment	`Land`	-	USD	Point-in-time
Land - held for investment	`Land`	$69.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	-	USD	Point-in-time
Total Other Assets	`AssetsNoncurrent`	$69.00K	USD	Point-in-time
Total Other Assets	`AssetsNoncurrent`	$23.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.04M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$6.15M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$13.83K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$156.18K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$6.76K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$200.00K	USD	Point-in-time
Accrued Interest	`AccruedInterest`	$21.04K	USD	Point-in-time
Accrued Interest	`AccruedInterest`	-	USD	Point-in-time
Accrued Interest - Stockholders	`AccruedInterestStockholders`	$9.72K	USD	Point-in-time
Accrued Interest - Stockholders	`AccruedInterestStockholders`	-	USD	Point-in-time
Notes Payable to Stockholders	`DueToRelatedPartiesCurrent`	-	USD	Point-in-time
Notes Payable to Stockholders	`DueToRelatedPartiesCurrent`	$1.03M	USD	Point-in-time
Current Portion of Long Term Debt	`DebtCurrent`	$395.42K	USD	Point-in-time
Current Portion of Long Term Debt	`DebtCurrent`	$390.60K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$411.18K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.81M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$255.28K	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$323.41K	USD	Point-in-time
Common Stock, $0.001 par value, 200,000,000 shares authorized, 60,540,000 and 58,500,000 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$58.50K	USD	Point-in-time
Common Stock, $0.001 par value, 200,000,000 shares authorized, 60,540,000 and 58,500,000 shares issued and outstanding at September 30, 2017 and December 31, 2016, respectively	`CommonStockValue`	$60.54K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$6.59M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$5.73M	USD	Point-in-time
Retained Earnings (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-2.57M	USD	Point-in-time
Retained Earnings (Deficit)	`RetainedEarningsAccumulatedDeficit`	$-1.49M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$4.30M	USD	Point-in-time
Total Stockholders' Equity	`StockholdersEquity`	$4.08M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$6.15M	USD	Point-in-time
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.04M	USD	Point-in-time

Income Statement 60 line items

Line Item	Tag	Value	Unit	Period
Net sales	`SalesRevenueNet`	-	USD	1 Quarter
Net sales	`SalesRevenueNet`	$11.77K	USD	3 Qtrs
Net sales	`SalesRevenueNet`	$255.44K	USD	1 Quarter
Net sales	`SalesRevenueNet`	$755.75K	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$367.33K	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	-	USD	1 Quarter
Cost of sales	`CostOfGoodsAndServicesSold`	$9.50K	USD	3 Qtrs
Cost of sales	`CostOfGoodsAndServicesSold`	$116.73K	USD	1 Quarter
Gross profit	`GrossProfit`	-	USD	1 Quarter
Gross profit	`GrossProfit`	$138.72K	USD	1 Quarter
Gross profit	`GrossProfit`	$2.27K	USD	3 Qtrs
Gross profit	`GrossProfit`	$388.42K	USD	3 Qtrs
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$457.80K	USD	1 Quarter
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$279.44K	USD	1 Quarter
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$749.45K	USD	3 Qtrs
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$1.07M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.07M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$457.80K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$749.45K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$279.44K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-747.18K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-140.72K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-682.22K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-457.80K	USD	1 Quarter
Merger Expenses	`MergerExpenses`	$-260.75K	USD	1 Quarter
Merger Expenses	`MergerExpenses`	$-260.75K	USD	3 Qtrs
Merger Expenses	`MergerExpenses`	-	USD	1 Quarter
Merger Expenses	`MergerExpenses`	-	USD	3 Qtrs
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$9.72K	USD	3 Qtrs
Interest Expense - Related Party	`InterestExpenseRelatedParty`	-	USD	1 Quarter
Interest Expense - Related Party	`InterestExpenseRelatedParty`	-	USD	3 Qtrs
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$6.09K	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	-	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	-	USD	3 Qtrs
Interest Expense - Other	`InterestExpenseOther`	$5.80K	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	$21.04K	USD	3 Qtrs
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-272.64K	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	-	USD	1 Quarter
Total Other Income (Expense)	`NonoperatingIncomeExpense`	$-291.50K	USD	3 Qtrs
Total Other Income (Expense)	`NonoperatingIncomeExpense`	-	USD	3 Qtrs
Net loss before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-747.18K	USD	3 Qtrs
Net loss before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-973.72K	USD	3 Qtrs
Net loss before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-413.37K	USD	1 Quarter
Net loss before Income Taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-457.80K	USD	1 Quarter
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	3 Qtrs
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-747.18K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-413.37K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-457.80K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-973.72K	USD	3 Qtrs
Net Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	3 Qtrs
Net Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	USD	3 Qtrs
Net Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Net Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.52M	shares	3 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.57M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.50M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.50M	shares	3 Qtrs

Cash Flow Statement 48 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-747.18K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-413.37K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-457.80K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-973.72K	USD	3 Qtrs
Depreciation	`Depreciation`	$53.98K	USD	3 Qtrs
Depreciation	`Depreciation`	$148.83K	USD	3 Qtrs
Stock-based Compensation	`ShareBasedCompensation`	-	USD	1 Quarter
Stock-based Compensation	`ShareBasedCompensation`	$198.48K	USD	3 Qtrs
Stock-based Compensation	`ShareBasedCompensation`	$198.48K	USD	1 Quarter
Stock-based Compensation	`ShareBasedCompensation`	-	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.04M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$732.72K	USD	3 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-18.24K	USD	3 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$3.92K	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDeposit`	$23.00K	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDeposit`	$10.00K	USD	3 Qtrs
Accounts Payable and Other Current Liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$45.07K	USD	3 Qtrs
Accounts Payable and Other Current Liabilities	`IncreaseDecreaseInAccountsPayableAndAccruedLiabilities`	$366.35K	USD	3 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.33M	USD	3 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.37M	USD	3 Qtrs
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$2.21M	USD	3 Qtrs
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$373.89K	USD	3 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-2.21M	USD	3 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-373.89K	USD	3 Qtrs
Payment for Capital Lease	`RepaymentsOfLongTermCapitalLeaseObligations`	-	USD	3 Qtrs
Payment for Capital Lease	`RepaymentsOfLongTermCapitalLeaseObligations`	$215.61K	USD	3 Qtrs
Payments of Long-term Debt	`RepaymentsOfLongTermDebt`	$10.20K	USD	3 Qtrs
Payments of Long-term Debt	`RepaymentsOfLongTermDebt`	$12.70K	USD	3 Qtrs
Proceeds from Note Payable Stockholders	`ProceedsFromRepaymentsOfNotesPayable`	$1.03M	USD	3 Qtrs
Proceeds from Note Payable Stockholders	`ProceedsFromRepaymentsOfNotesPayable`	-	USD	3 Qtrs
Payments on Advance to Stockholders	`PaymentsOnAdvanceToStockholders`	$157.98K	USD	3 Qtrs
Payments on Advance to Stockholders	`PaymentsOnAdvanceToStockholders`	-	USD	3 Qtrs
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	-	USD	3 Qtrs
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$150.03K	USD	3 Qtrs
Proceeds from Additional Paid in Capital from Shareholders	`ProceedsFromAdditionalPaidInCapitalFromShareholders`	$533.77K	USD	3 Qtrs
Proceeds from Additional Paid in Capital from Shareholders	`ProceedsFromAdditionalPaidInCapitalFromShareholders`	$4.01M	USD	3 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$3.62M	USD	3 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.70M	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$34.28K	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-336.00	USD	3 Qtrs
CASH AND CASH EQUIVALENTS - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$95.25K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$17.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$95.59K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of Period	`CashAndCashEquivalentsAtCarryingValue`	$52.07K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$95.25K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$17.79K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$95.59K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$52.07K	USD	Point-in-time

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.