Quarterly report pursuant to Section 13 or 15(d)

CONDENSED CONSOLIDATED BALANCE SHEETS

v2.4.0.8
CONDENSED CONSOLIDATED BALANCE SHEETS (USD $)
Sep. 30, 2013
Dec. 31, 2012
Current Assets:    
Cash $ 165,908 $ 431
Accounts Receivable 1,661,733  
Total current assets 1,827,641 431
Other Current Assets    
Prepaid Inventory 1,194,346  
Inventory 2,394,419  
Total Other Current Assets 3,588,765  
Total Current Assets 5,416,406 431
Equipment, Net 199,060  
Other Assets    
Intangibles, Net 3,562,000  
Goodwill 1,855,512  
Investment in Kannalife 650,000  
Total Other Assets 6,067,512  
TOTAL ASSETS 11,682,978 431
Current Liabilities:    
Accounts payable 123,583  
Accrued interest 87,931  
Equipment Loan Payable 30,000  
Amount due to related party 300 500
Other Current Liabilities    
PhytoSphere Agreement 1,314,878 0
Total Current Liabilities 1,556,692 500
Long Term Liabilities    
Line of Credit - Roen Ventures LLC, net of debt discount 4,210,195  
Total Long Term Liabilities 4,210,195  
TOTAL LIABILITIES 5,766,887 500
STOCKHOLDERS' EQUITY (DEFICIT)    
Preferred stock, par value $0.0001; 10,000,000 shares authorized; no shares issued and outstanding 0 0
Common stock - par value $0.0001; 190,000,000 shares authorized; 11,741,667 and 7,000,000 shares issued and outstanding as of September 30, 2013 and December 31, 2012 respectively 1,174 700
Additional paid in capital 6,535,495 143,447
Accumulated Deficit (620,578) (144,216)
TOTAL STOCKHOLDERS' EQUITY (DEFICIT) 5,916,091 (69)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT) $ 11,682,978 $ 431