The Company has performed an evaluation of subsequent events in accordance with ASC Topic 855, noting no additional subsequent events other than those noted below.

On March 11, 2015, effective as of January 1, 2015, we entered into an Executive Compensation Agreement with Kenneth L. Waggoner (“Waggoner Compensation Agreement”), our Chief Executive Officer, President and General Counsel. The Waggoner Compensation Agreement is for a term of two years with annual extensions thereof unless the Company or Mr. Waggoner provide 90 days written notice of termination. The Agreement provides that Mr. Waggoner will be employed as a member of our Board of Directors, as our Chief Executive Officer, President and General Counsel and as Chief Executive Officer and General Counsel of Viridis Biotech, Inc., our wholly-owned subsidiary. Mr. Waggoner will be paid a base salary of $180,000 subject to annual increases in the discretion of our Compensation Committee.

As previously disclosed, subject to Mr. Waggoner entering into the Waggoner Compensation Agreement, in March of 2014, the Board granted Mr. Waggoner 10,000,000 shares of our Common Stock. On March 11, 2015, Mr. Waggoner was granted 2,400,000 shares of Common Stock vesting at the rate of 600,000 shares per quarter with an identical grant to be made on January 1, 2016. Further, as previously disclosed, subject to Mr. Waggoner entering into the Waggoner Compensation Agreement, on March 11, 2015, Mr. Waggoner was granted a stock option to purchase up to 10,000,000 shares of Common Stock at a price of $0.11 per share, the fair market value on the date of grant, and on March 11, 2015, was granted a second stock option to purchase up to 2,400,000 shares at a price of $0.11 per share, the fair market value on the date of grant, with vesting at the rate of 200,000 shares per month. On January 1, 2016, Mr. Waggoner will be granted another stock option to purchase up to 2,400,000 shares at the fair market value on the date of grant with the same vesting schedule.

On March 11, 2015, effective as of January 1, 2015, we entered into an Executive Compensation Agreement with Dr. Gerald W. Crabtree (“Crabtree Compensation Agreement”), our Chief Operating Officer. The Crabtree Compensation Agreement is for a term of two years with annual extensions thereof unless the Company or Dr. Crabtree provide 90 days written notice of termination. The Crabtree Compensation Agreement provides that Dr. Crabtree will be employed as a member of our Board of Directors, as our Chief Operating Officer and as the Chief Operating Officer of Viridis Biotech, Inc., our wholly-owned subsidiary. Dr. Crabtree will be paid a base salary of $156,000 subject to annual increases in the discretion of our Compensation Committee.

As previously disclosed, subject to Dr. Crabtree entering into the Crabtree Compensation Agreement, in March of 2014, the Board granted Dr. Crabtree 10,000,000 shares of our Common Stock. On March 11, 2015, Dr. Crabtree was granted 1,200,000 shares of Common Stock vesting at the rate of 300,000 shares per quarter with an identical grant to be made on January 1, 2016. Further, as previously disclosed, subject to Dr. Crabtree entering into the Crabtree Compensation Agreement, on March 11, 2015, Dr. Crabtree was granted a stock option to purchase up to 10,000,000 shares of Common Stock at a price of $0.11 per share, the fair market value on the date of grant, and on March 11, 2015, was granted a second stock option to purchase up to 2,400,000 shares at a price of $0.11 per share, the fair market value on the date of grant, with vesting at the rate of 200,000 shares per month. On January 1, 2016, Dr. Crabtree will be granted another stock option to purchase up to 2,400,000 shares at the fair market value on the date of grant with the same vesting schedule.

On February 20, 2015, the Company made a payment of $300,000 to Austrianova Singapore pursuant to the Cannabis Licensing Agreement.

From February 1, 2015 to March 13, 2015, the Company sold 4,310,188 shares of common stock under the S-3 Registration Statement. The issuance of the shares provided the Company approximately $520,553.