Quarterly report pursuant to Section 13 or 15(d)

BALANCE SHEETS

v2.4.0.6
BALANCE SHEETS (USD $)
Mar. 31, 2013
Dec. 31, 2012
Current Assets:    
Cash $ 200,145 $ 431
Accounts Receivable 1,671,438  
Total current assets 1,871,583 431
Other Current Assets    
Prepaid Inventory 194,206  
Inventory - CBD 200,000  
Inventory - Raw Oil 525,000  
Total Other Current Assets 919,206  
Total Current Assets 2,790,789 431
Property and Equipment, Net 1,288  
Other Assets    
Intangibles, Net 33,656,833  
Investment in Kannalife 250,000  
Total Other Assets 33,906,833  
TOTAL ASSETS 36,698,910 431
Current Liabilities:    
Accounts payable 280,538  
Amount due to related party    500
Other Current Liabilities    
PhytoSphere Agreement 30,500,000   
Total Current Liabilities 30,780,538 500
Long Term Liabilities    
Due to Roen Ventures 1,080,500  
Total Long Term Liabilities 1,080,500  
TOTAL LIABILITIES 31,861,038 500
STOCKHOLDERS' EQUITY (DEFICIT)    
Common stock - par value $0.0001; 190,000,000 shares authorized; 7,900,000 and 7,000,000 shares issued and outstanding as of March 31, 2013 and December 31, 2012 respectively 790 700
Additional paid in capital 4,643,357 143,447
Retained Earnings/Accumulated Deficit 193,725 (144,216)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 4,837,872 (69)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 36,698,910 $ 431