10-Q Filing

VERITAS FARMS, INC. CIK: 1669400 Q3 2018

Filing Information

Form Type	10-Q
Accession Number	`0001615774-18-012729`
Period End Date	20180930
Filing Date	20181114
Fiscal Year	2018
Fiscal Period	Q3
XBRL Instance	sswh-20180930.xml

Filing Contents

This filing contains the following financial statements:

Balance Sheet 54 Income Statement 59 Cash Flow Statement 54

Balance Sheet 54 line items

Line Item	Tag	Value	Unit	Period
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$306.04K	USD	Point-in-time
Accumulated depreciation	`AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment`	$500.13K	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`	$546.90K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.59K	USD	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$95.25K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Cash and Cash Equivalents	`CashAndCashEquivalentsAtCarryingValue`	$27.80K	USD	Point-in-time
Common stock, authorized	`CommonStockSharesAuthorized`	200.00M	shares	Point-in-time
Inventories	`InventoryNet`	$1.75M	USD	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	59.90M	shares	Point-in-time
Common stock, issued	`CommonStockSharesIssued`	91.82M	shares	Point-in-time
Inventories	`InventoryNet`	$1.43M	USD	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$79.90K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	91.82M	shares	Point-in-time
Accounts Receivable	`AccountsReceivableNetCurrent`	$212.52K	USD	Point-in-time
Common stock, outstanding	`CommonStockSharesOutstanding`	59.90M	shares	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$42.09K	USD	Point-in-time
Prepaid Expenses	`PrepaidExpenseCurrent`	$107.35K	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$2.61M	USD	Point-in-time
Total Current Assets	`AssetsCurrent`	$1.58M	USD	Point-in-time
PROPERTY PLANT AND EQUIPMENT, net of accumulated depreciation of $500,133 and $306,038, respectively	`PropertyPlantAndEquipmentNet`	$3.71M	USD	Point-in-time
PROPERTY PLANT AND EQUIPMENT, net of accumulated depreciation of $500,133 and $306,038, respectively	`PropertyPlantAndEquipmentNet`	$3.61M	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`	$6.37M	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$245.08K	USD	Point-in-time
Accounts Payable	`AccountsPayableCurrent`	$107.42K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$159.90K	USD	Point-in-time
Accrued Expenses	`AccruedLiabilitiesCurrent`	$140.56K	USD	Point-in-time
Accrued Interest - Related Parties	`AccruedInterestRelatedParties`	$16.23K	USD	Point-in-time
Accrued Interest - Related Parties	`AccruedInterestRelatedParties`	$25.12K	USD	Point-in-time
Notes Payable - Related Parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$1.03M	USD	Point-in-time
Notes Payable - Related Parties	`NotesPayableRelatedPartiesClassifiedCurrent`	$945.32K	USD	Point-in-time
Current Portion of Long Term Debt	`DebtCurrent`	$551.19K	USD	Point-in-time
Current Portion of Long Term Debt	`DebtCurrent`	$541.58K	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$1.76M	USD	Point-in-time
Total Current Liabilities	`LiabilitiesCurrent`	$2.00M	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$100.48K	USD	Point-in-time
LONG-TERM DEBT	`LongTermDebtNoncurrent`	$99.97K	USD	Point-in-time
Total Liabilities	`Liabilities`	$2.10M	USD	Point-in-time
Total Liabilities	`Liabilities`	$1.86M	USD	Point-in-time
Common Stock, $0.001 par value, 200,000,000 shares authorized, 91,821,500 and 59,895,000 shares issued and outstanding at September 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, 91,821,500 and 59,895,000 shares issued and outstanding at September 30, 2018 and December 31, 2017 respectively	`CommonStockValue`	$93.82K	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$7.14M	USD	Point-in-time
Additional Paid in Capital	`AdditionalPaidInCapitalCommonStock`	$10.18M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-4.09M	USD	Point-in-time
Accumulated Deficit	`RetainedEarningsAccumulatedDeficit`	$-5.77M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$4.51M	USD	Point-in-time
Total Shareholders' Equity	`StockholdersEquity`	$3.11M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$5.21M	USD	Point-in-time
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	`LiabilitiesAndStockholdersEquity`	$6.37M	USD	Point-in-time

Income Statement 59 line items

Line Item	Tag	Value	Unit	Period
Sales	`Revenues`	$1.28M	USD	3 Qtrs
Sales	`Revenues`	$255.44K	USD	1 Quarter
Sales	`Revenues`	$459.33K	USD	1 Quarter
Sales	`Revenues`	$755.75K	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$570.25K	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$887.84K	USD	3 Qtrs
Cost of sales	`CostOfRevenue`	$140.95K	USD	1 Quarter
Cost of sales	`CostOfRevenue`	$372.14K	USD	1 Quarter
Gross profit	`GrossProfit`	$114.49K	USD	1 Quarter
Gross profit	`GrossProfit`	$390.07K	USD	3 Qtrs
Gross profit	`GrossProfit`	$185.50K	USD	3 Qtrs
Gross profit	`GrossProfit`	$87.19K	USD	1 Quarter
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$2.04M	USD	3 Qtrs
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$867.72K	USD	3 Qtrs
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$1.07M	USD	1 Quarter
Selling, General and Administrative	`GeneralAndAdministrativeExpense`	$255.22K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$867.72K	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$255.22K	USD	1 Quarter
Total operating expenses	`OperatingExpenses`	$2.04M	USD	3 Qtrs
Total operating expenses	`OperatingExpenses`	$1.07M	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-682.22K	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-140.72K	USD	1 Quarter
Operating loss	`OperatingIncomeLoss`	$-1.65M	USD	3 Qtrs
Operating loss	`OperatingIncomeLoss`	$-984.27K	USD	1 Quarter
Merger Expenses	`NoncashMergerRelatedCosts`	$260.75K	USD	1 Quarter
Merger Expenses	`NoncashMergerRelatedCosts`	$260.75K	USD	3 Qtrs
Merger Expenses	`NoncashMergerRelatedCosts`	-	USD	3 Qtrs
Merger Expenses	`NoncashMergerRelatedCosts`	-	USD	1 Quarter
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$8.80K	USD	1 Quarter
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$9.72K	USD	3 Qtrs
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$16.25K	USD	3 Qtrs
Interest Expense - Related Party	`InterestExpenseRelatedParty`	$6.09K	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	$5.80K	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	$9.76K	USD	3 Qtrs
Interest Expense - Other	`InterestExpenseOther`	$3.21K	USD	1 Quarter
Interest Expense - Other	`InterestExpenseOther`	$21.04K	USD	3 Qtrs
Total Other Expenses	`NonoperatingIncomeExpense`	$-291.50K	USD	3 Qtrs
Total Other Expenses	`NonoperatingIncomeExpense`	$-272.64K	USD	1 Quarter
Total Other Expenses	`NonoperatingIncomeExpense`	$-12.01K	USD	1 Quarter
Total Other Expenses	`NonoperatingIncomeExpense`	$-26.01K	USD	3 Qtrs
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-973.72K	USD	3 Qtrs
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-996.28K	USD	1 Quarter
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-413.37K	USD	1 Quarter
Loss before Provision for Income taxes	`IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest`	$-1.68M	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`	$-1.68M	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-413.37K	USD	1 Quarter
NET LOSS	`NetIncomeLoss`	$-973.72K	USD	3 Qtrs
NET LOSS	`NetIncomeLoss`	$-996.28K	USD	1 Quarter
Net Loss per Share (in dollars per share)	`EarningsPerShareBasicAndDiluted`	$-0.02	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`	58.57M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	58.52M	shares	3 Qtrs
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	91.69M	shares	1 Quarter
Weighted average shares outstanding (in shares)	`WeightedAverageNumberOfShareOutstandingBasicAndDiluted`	70.35M	shares	3 Qtrs

Cash Flow Statement 54 line items

Line Item	Tag	Value	Unit	Period
Net Loss	`NetIncomeLoss`	$-1.68M	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-413.37K	USD	1 Quarter
Net Loss	`NetIncomeLoss`	$-973.72K	USD	3 Qtrs
Net Loss	`NetIncomeLoss`	$-996.28K	USD	1 Quarter
Depreciation	`Depreciation`	$194.09K	USD	3 Qtrs
Depreciation	`Depreciation`	$148.83K	USD	3 Qtrs
Stock-based Compensation	`ShareBasedCompensation`	$46.44K	USD	3 Qtrs
Stock-based Compensation	`ShareBasedCompensation`	$198.48K	USD	3 Qtrs
Loss on Disposal of Property and Equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Loss on Disposal of Property and Equipment	`GainLossOnSaleOfPropertyPlantEquipment`	-	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$1.04M	USD	3 Qtrs
Inventories	`IncreaseDecreaseInInventories`	$317.26K	USD	3 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$3.92K	USD	3 Qtrs
Prepaid Expenses	`IncreaseDecreaseInPrepaidExpense`	$65.25K	USD	3 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	$-132.62K	USD	3 Qtrs
Accounts Receivable	`IncreaseDecreaseInAccountsReceivable`	-	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$-23.00K	USD	3 Qtrs
Deposits	`IncreaseDecreaseInDeposits`	$-25.03K	USD	3 Qtrs
Accrued Interest - Related Parties	`IncreaseDecreaseInAccruedInterestShareholders`	$6.34K	USD	3 Qtrs
Accrued Interest - Related Parties	`IncreaseDecreaseInAccruedInterestShareholders`	$8.89K	USD	3 Qtrs
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$217.66K	USD	3 Qtrs
Accrued Expenses	`IncreaseDecreaseInAccruedLiabilities`	$-19.34K	USD	3 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$-137.66K	USD	3 Qtrs
Accounts Payable	`IncreaseDecreaseInAccountsPayable`	$142.35K	USD	3 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-2.13M	USD	3 Qtrs
NET CASH USED IN OPERATING ACTIVITIES	`NetCashProvidedByUsedInOperatingActivities`	$-1.33M	USD	3 Qtrs
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$292.21K	USD	3 Qtrs
Purchase of Property and Equipment	`PaymentsToAcquirePropertyPlantAndEquipment`	$373.89K	USD	3 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-292.21K	USD	3 Qtrs
NET CASH USED IN INVESTING ACTIVITIES	`NetCashProvidedByUsedInInvestingActivities`	$-373.89K	USD	3 Qtrs
Payments of Long-term Debt	`RepaymentsOfLongTermDebt`	$12.70K	USD	3 Qtrs
Payments of Long-term Debt	`RepaymentsOfLongTermDebt`	$9.10K	USD	3 Qtrs
Repayment of Notes Payable - Related Parties	`RepaymentsOfNotesPayable`	$84.76K	USD	3 Qtrs
Repayment of Notes Payable - Related Parties	`RepaymentsOfNotesPayable`	-	USD	3 Qtrs
Capital Contribution from Shareholders	`ProceedsFromPartnershipContribution`	$1.03M	USD	3 Qtrs
Capital Contribution from Shareholders	`ProceedsFromPartnershipContribution`	-	USD	3 Qtrs
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$3.03M	USD	3 Qtrs
Proceeds from Issuance of Common Stock	`ProceedsFromIssuanceOfCommonStock`	$683.80K	USD	3 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$2.94M	USD	3 Qtrs
NET CASH PROVIDED BY FINANCING ACTIVITIES	`NetCashProvidedByUsedInFinancingActivities`	$1.70M	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$-336.00	USD	3 Qtrs
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	`CashAndCashEquivalentsPeriodIncreaseDecrease`	$519.09K	USD	3 Qtrs
CASH AND CASH EQUIVALENTS - Beginning of Year	`CashAndCashEquivalentsAtCarryingValue`	$546.90K	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`	$95.25K	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`	$546.90K	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`	$95.25K	USD	Point-in-time
CASH AND CASH EQUIVALENTS - End of Period	`CashAndCashEquivalentsAtCarryingValue`	$27.80K	USD	Point-in-time
Cash Paid for Interest	`InterestPaid`	$8.21K	USD	3 Qtrs
Cash Paid for Interest	`InterestPaid`	$14.93K	USD	3 Qtrs
Distribution of Land Held for Investment	`ProceedsFromSaleOfLandHeldforinvestment`	$18.40K	USD	3 Qtrs
Distribution of Land Held for Investment	`ProceedsFromSaleOfLandHeldforinvestment`	-	USD	3 Qtrs

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