Annual report pursuant to Section 13 and 15(d)

Property, Plant and Equipment

Property, Plant and Equipment
12 Months Ended
Jan. 31, 2019
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

In a major transaction, the Company acquired the 420 Cloud software environment which includes, 420 Cloud mobile, 420 Cloud browser, 420 Cloud API, WhoDab, BangPunch, 420 single sign-on mobile wallet, 420 job search, Weedistry, Ehesive, 420 cue, 420 wise guy, and Palm weed.  While some of the software applications are currently in use, others are still under development.  The Company launched its 420 cloud software service on April 20, 2017. The company has transferred all digital currency ATMs to assets held for sale as they are no longer going to be used by the company has and will be sold.


The following is a detail of equipment:


Property, Plant, and Equipment
For the year ended January 31,
    2019   2018
Software (Capitalized) $ 3,137,164 $ 3,127,244
Intangibles   7,753  
Machinery & Equipment   -   299,970.00
Total acquisition cost   3,137,164   3,427,214
Accumulated depreciation   686,265   199,455
Total property, plant, and equipment $ 2,450,899 $ 3,227,760


Depreciation expense on property, plant and equipment was $486,812 for the year ended January 31, 2019 and $199,455 for the year ending January 31, 2018.