Quarterly report pursuant to Section 13 or 15(d)

Kush Bottles, Inc. - Condensed Consolidated Balance Sheets

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Kush Bottles, Inc. - Condensed Consolidated Balance Sheets - USD ($)
May 31, 2017
Aug. 31, 2016
Current Assets:    
Cash $ 726,692 $ 1,027,003
Accounts receivable, net of allowance 1,561,117 199,844
Prepaid expenses and other current assets 1,186,885 596,456
Inventory 3,130,246 1,142,458
TOTAL CURRENT ASSETS 6,604,940 2,965,761
Goodwill 35,034,710 2,376,589
Deposits 46,860 12,220
Property and equipment, net 928,483 273,597
Total Assets 43,701,856 5,628,167
Current Liabilities:    
Accounts payable 1,108,769 369,636
Accrued expenses and other current liabilities 644,437 549,101
Notes payable- current portion 682,406 20,247
Total Current Liabilities 2,435,612 938,984
LONG-TERM DEBT    
Notes payable 1,825,910 39,307
TOTAL LIABILITIES 4,261,522 978,291
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS' EQUITY    
Preferred stock [1]
Common stock [2] 58,281 48,300
Additional paid-in capital 40,210,306 5,278,284
Accumulated deficit (828,253) (676,708)
Total Stockholders' Equity 39,440,334 4,649,876
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY $ 43,701,856 $ 5,628,167
[1] $0.001 par value; 10,000,000 shares authorized, no shares issued and outstanding
[2] $0.001 par value, 265,000,000 shares authorized, 58,280,739 and 48,300,162 shares issued and outstanding, respectively