Quarterly report pursuant to Section 13 or 15(d)

Document and Entity Information

Document and Entity Information
3 Months Ended
Mar. 31, 2013
May 17, 2013
Document And Entity Information    
Entity Registrant Name CannaVEST Corp.  
Entity Central Index Key 0001510964  
Document Type 10-Q  
Document Period End Date Mar. 31, 2013  
Amendment Flag true  
Current Fiscal Year End Date --12-31  
Is Entity's Reporting Status Current? Yes  
Entity Filer Category Smaller Reporting Company  
Entity Common Stock, Shares Outstanding   8,900,000
Document Fiscal Period Focus Q1  
Document Fiscal Year Focus 2013  
EntityWellKnownSeasonedIssuer No  
EntityVoluntaryFilers No  

We are restating our Financial Statements, amending related disclosure in the section titled Management’s Discussion and Analysis of Financial Condition and in the Notes to Financial Statements and conforming the disclosures in the Notes to Financial Statements to those contained in the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2013. This restatement is related to the reporting of the purchase price and allocation thereof related to the purchase of certain assets of PhytoSPHERE Systems, LLC. We have determined that the purchase price and allocation of the purchase price originally reported did not represent the fair market value of the transaction in accordance with accounting principals generally accepted in the United States. In addition, management determined that sales and cost of sales originally reported for the quarter ended March 31, 2013 were incorrect. This Amendment No. 2 will include corrections of those amounts and resulting changes to the financial statements.