10-Q Filing

VERITAS FARMS, INC. CIK: 1669400 Q2 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-008329`
Period End Date	20180630
Filing Date	20180820
Fiscal Year	2018
Fiscal Period	Q2
XBRL Instance	sswh-20180630.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 56 Income Statement 64 Cash Flow Statement 54

Balance Sheet 56 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$306.04K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$432.77K	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
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$9.28K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$5.51K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.59K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.80K	USD	Point-in-time
Inventories	`InventoryNet`	$1.63M	USD	Point-in-time
Inventories	`InventoryNet`	$1.43M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	76.20M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	59.90M	shares	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	76.20M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$79.90K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	59.90M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$180.83K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$18.65K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$42.09K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.58M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.84M	USD	Point-in-time
PROPERTY PLANT AND EQUIPMENT, net of accumulated depreciation of $432,766 and $306,038, respectively	`PropertyPlantAndEquipmentNet`	$3.61M	USD	Point-in-time
PROPERTY PLANT AND EQUIPMENT, net of accumulated depreciation of $432,766 and $306,038, respectively	`PropertyPlantAndEquipmentNet`	$3.48M	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$48.03K	USD	Point-in-time
Deposits	`DepositsAssetsNoncurrent`	$23.00K	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.21M	USD	Point-in-time
TOTAL ASSETS	`Assets`	$5.37M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$188.20K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$245.08K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$159.90K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$221.73K	USD	Point-in-time
Accrued Interest - Related Parties	`AccruedInterestRelatedParties`	$16.23K	USD	Point-in-time
Accrued Interest - Related Parties	`AccruedInterestRelatedParties`	$20.03K	USD	Point-in-time
Notes Payable - Related Parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.03M	USD	Point-in-time
Notes Payable - Related Parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.05M	USD	Point-in-time
Current Portion of Long Term Debt	`DebtCurrent`	$544.85K	USD	Point-in-time
Current Portion of Long Term Debt	`DebtCurrent`	$551.19K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.02M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.00M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$99.97K	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$98.82K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.12M	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.10M	USD	Point-in-time
Common Stock, $0.001 par value, 200,000,000 shares authorized, 76,200,096 and 59,895,000 shares issued and outstanding at June 30, 2018 and December 31, 2017 respectively	`CommonStockValue`	$59.90K	USD	Point-in-time
Common Stock, $0.001 par value, 200,000,000 shares authorized, 76,200,096 and 59,895,000 shares issued and outstanding at June 30, 2018 and December 31, 2017 respectively	`CommonStockValue`	$76.20K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$7.14M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$8.74M	USD	Point-in-time
Subscription Receivable	`StockholdersEquityNoteSubscriptionsReceivable`	$797.93K	USD	Point-in-time
Subscription Receivable	`StockholdersEquityNoteSubscriptionsReceivable`	-	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.77M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.09M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.25M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.11M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.37M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.21M	USD	Point-in-time

Income Statement 64 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$235.85K	USD	1 Quarter
Sales	`Revenues`	$500.31K	USD	2 Qtrs
Sales	`Revenues`	$487.17K	USD	1 Quarter
Sales	`Revenues`	$818.59K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$515.70K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$317.69K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$429.30K	USD	2 Qtrs
Cost of sales	`CostOfRevenue`	$298.11K	USD	1 Quarter
Gross profit	`GrossProfit`	$-62.25K	USD	1 Quarter
Gross profit	`GrossProfit`	$169.47K	USD	1 Quarter
Gross profit	`GrossProfit`	$302.89K	USD	2 Qtrs
Gross profit	`GrossProfit`	$71.01K	USD	2 Qtrs
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$493.30K	USD	1 Quarter
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$193.24K	USD	1 Quarter
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$994.24K	USD	2 Qtrs
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$566.65K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$193.24K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$994.24K	USD	2 Qtrs
Total operating expenses	`OperatingExpenses`	$493.30K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$566.65K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-323.82K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-255.49K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-691.35K	USD	2 Qtrs
Operating loss	`OperatingIncomeLoss`	$-495.64K	USD	2 Qtrs
Merger Expenses	`NoncashMergerRelatedCosts`	$52.28K	USD	1 Quarter
Merger Expenses	`NoncashMergerRelatedCosts`	-	USD	2 Qtrs
Merger Expenses	`NoncashMergerRelatedCosts`	$215.68K	USD	2 Qtrs
Merger Expenses	`NoncashMergerRelatedCosts`	-	USD	1 Quarter
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$7.45K	USD	2 Qtrs
Interest Expense - Related Party	`InterestExpenseRelatedParty`	-	USD	1 Quarter
Interest Expense - Related Party	`InterestExpenseRelatedParty`	-	USD	2 Qtrs
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$1.06K	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	$15.21K	USD	2 Qtrs
Interest Expense - Other	`InterestExpenseOther`	$6.56K	USD	2 Qtrs
Interest Expense - Other	`InterestExpenseOther`	$3.25K	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	$7.00K	USD	1 Quarter
Other Income	`OtherIncome`	-	USD	1 Quarter
Other Income	`OtherIncome`	-	USD	2 Qtrs
Other Income	`OtherIncome`	-	USD	1 Quarter
Other Income	`OtherIncome`	$23.93K	USD	2 Qtrs
Total Other Expense (Income)	`NonoperatingIncomeExpense`	$-230.89K	USD	2 Qtrs
Total Other Expense (Income)	`NonoperatingIncomeExpense`	$-4.31K	USD	1 Quarter
Total Other Expense (Income)	`NonoperatingIncomeExpense`	$-59.28K	USD	1 Quarter
Total Other Expense (Income)	`NonoperatingIncomeExpense`	$9.92K	USD	2 Qtrs
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-328.13K	USD	1 Quarter
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-726.53K	USD	2 Qtrs
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-681.43K	USD	2 Qtrs
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-314.77K	USD	1 Quarter
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	1 Quarter
Income Tax Provision	`IncomeTaxExpenseBenefit`	-	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-681.43K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-726.53K	USD	2 Qtrs
NET LOSS	`NetIncomeLoss`	$-314.77K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-328.13K	USD	1 Quarter
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
Net Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Net Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.01	USD	2 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	62.11M	shares	2 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.50M	shares	2 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.50M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	62.11M	shares	1 Quarter

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-681.43K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-726.53K	USD	2 Qtrs
Net Loss	`NetIncomeLoss`	$-314.77K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-328.13K	USD	1 Quarter
Depreciation	`Depreciation`	$126.73K	USD	2 Qtrs
Depreciation	`Depreciation`	$99.22K	USD	2 Qtrs
Stock-based Compensation	`ShareBasedCompensation`	$121.58K	USD	2 Qtrs
Stock-based Compensation	`ShareBasedCompensation`	-	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$202.87K	USD	2 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$601.90K	USD	2 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$15.64K	USD	2 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$-23.45K	USD	2 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	2 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-100.93K	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	-	USD	2 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$-25.03K	USD	2 Qtrs
Accrued Interest - Shareholders	`IncreaseDecreaseInAccruedInterestShareholders`	$3.80K	USD	2 Qtrs
Accrued Interest - Shareholders	`IncreaseDecreaseInAccruedInterestShareholders`	$6.34K	USD	2 Qtrs
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$143.24K	USD	2 Qtrs
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$61.82K	USD	2 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$-56.88K	USD	2 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$-2.44K	USD	2 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-729.77K	USD	2 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.10M	USD	2 Qtrs
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	-	USD	2 Qtrs
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$394.64K	USD	2 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-394.64K	USD	2 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	-	USD	2 Qtrs
Payments on Long-term Debt	`RepaymentsOfLongTermDebt`	$7.85K	USD	2 Qtrs
Payments on Long-term Debt	`RepaymentsOfLongTermDebt`	$7.49K	USD	2 Qtrs
Proceeds from Note Payable Shareholders	`ProceedsFromRepaymentsOfNotesPayable`	-	USD	2 Qtrs
Proceeds from Note Payable Shareholders	`ProceedsFromRepaymentsOfNotesPayable`	$19.24K	USD	2 Qtrs
Capital Contribution from Shareholders	`ProceedsFromPartnershipContribution`	-	USD	2 Qtrs
Capital Contribution from Shareholders	`ProceedsFromPartnershipContribution`	$876.34K	USD	2 Qtrs
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$699.49K	USD	2 Qtrs
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$533.77K	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.40M	USD	2 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$711.25K	USD	2 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-90.08K	USD	2 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-18.52K	USD	2 Qtrs
CASH AND CASH EQUIVALENTS - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$9.28K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$5.51K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$95.59K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$27.80K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$9.28K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$5.51K	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`	$27.80K	USD	Point-in-time
Cash Paid for Interest	`InterestPaid`	$3.68K	USD	2 Qtrs
Cash Paid for Interest	`InterestPaid`	$13.35K	USD	2 Qtrs
Cash Paid for Income Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Cash Paid for Income Taxes	`IncomeTaxesPaid`	-	USD	2 Qtrs
Distribution of Land Held for Investment	`ProceedsFromSaleOfLandHeldforinvestment`	$18.40K	USD	2 Qtrs
Distribution of Land Held for Investment	`ProceedsFromSaleOfLandHeldforinvestment`	-	USD	2 Qtrs

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