10-K: Dogecoin Cash, Inc. (Formerly Cannabis Sativa, Inc.) Reports Annual Results for Fiscal Year 2024, Prioritizes Telemedicine and Digital Asset Integration

Dogecoin Cash, Inc., formerly Cannabis Sativa, Inc., reports a decrease in revenue for fiscal year 2024 and outlines its strategic focus on telemedicine expansion and cryptocurrency integration for 2025.

Summary

• Dogecoin Cash, Inc., formerly Cannabis Sativa, Inc., reported a 32% decrease in revenue for the fiscal year ended December 31, 2024, totaling $802,704 compared to $1,173,830 in 2023.
• The company's cost of revenues as a percentage of sales increased by 5% between the years.
• Total operating expenses decreased by 28% in 2024 compared to 2023, reflecting cost reduction efforts.
• The net loss from continuing operations was $(682,471) in 2024, compared to $(855,852) in 2023.
• Cash used in operating activities was $107,670 in 2024, compared to $63,111 in 2023.
• The company ended 2024 with $34,934 in cash on hand.
• As of March 3, 2025, there were 142,750,499 shares of the issuer's common stock outstanding.
• The company plans to prioritize the expansion of its telemedicine business and integrate cryptocurrency capabilities in 2025.
• On November 13, 2024, the Company acquired 600,000,000 Dogecoin Cash (DOG) tokens in exchange for 4,500,000 shares of preferred stock.

Sentiment

Score: 4

Explanation: The document presents a mixed sentiment. While cost-cutting measures are positive, the decrease in revenue and net loss raise concerns. The company's strategic shift towards telemedicine and digital assets could be promising, but it also introduces new risks.

Positives

• Operating expenses decreased by 28% in 2024, indicating successful cost reduction efforts.
• The company is actively exploring opportunities in brand development and the licensing and marketing of products and services tailored to the cannabidiol (CBD) and cannabis industries.
• The company plans to prioritize the expansion of its telemedicine business and integrate cryptocurrency capabilities in 2025.

Negatives

• Revenue decreased by 32% from $1,173,830 in 2023 to $802,704 in 2024.
• The company reported a net loss from continuing operations of $(682,471) in 2024.
• The company's cash on hand at the end of 2024 was $34,934, which may not be sufficient to meet immediate operational needs.
• The company's disclosure controls and procedures were not effective as of December 31, 2024, and that material information required to be disclosed in this report has not been properly recorded, processed, summarized and reported in a timely manner.

Risks

• The company's ability to continue as a going concern is dependent on generating profitable operations and/or obtaining necessary financing.
• The company faces risks related to the acquisition of digital assets, including market volatility, regulatory uncertainty, liquidity constraints, and cybersecurity risks.
• The regulatory environment for cryptocurrencies remains uncertain and evolving.
• The company identified material weaknesses in its internal controls over period end cut-off for recording payables, and communications between accounting personnel and management concerning related party and inter-company transactions.

Future Outlook

In 2025, CBDS plans to prioritize the expansion of its telemedicine business while integrating cryptocurrency capabilities within the company's operations, aligning with its strategic focus on digital assets; the company is actively exploring opportunities in brand development and the licensing and marketing of products and services tailored to the cannabidiol (CBD) and cannabis industries.

Management Comments

• Management is currently evaluating opportunities to expand the platform for medical marijuana evaluations into other states and is reviewing other telemedicine applications.
• Management will continue to monitor market developments and evaluate potential impairment or revaluation in future periods as necessary.

Industry Context

The company acknowledges increased competition in the cannabis telemedicine industry and anticipates further consolidation and mainstream companies entering the cannabis market.

Related Party Transactions

• The company received short-term advances and proceeds from notes payable from related parties and officers to cover operating expenses.
• During 2024, $182,453 of principal of the notes were paid down from the amounts due with the issuance of 18,880,159 shares of restricted common stock.

Stakeholder Impact

• Shareholders may experience dilution if the company raises capital through equity offerings.
• The company's strategic shift towards telemedicine and digital assets could impact employees and customers.
• The company's ability to generate profitable operations will impact its creditors and suppliers.

Next Steps

• The company plans to expand its telemedicine business and integrate cryptocurrency capabilities in 2025.
• The company intends to begin licensing and marketing products by developing new relationships with manufacturers and distributors.
• The company will continue to seek the acquisition of companies, intellectual property and other assets that fit within the companys strategic plan.

Key Dates

Keywords

Dogecoin Cash, telemedicine, cryptocurrency, CBDS, Cannabis Sativa, financial results, annual report, digital assets, PrestoCorp, DogeSPAC