The charges Waka Flocka is facing are not only serious but numerous...

-- Possession of marijuana less than 1 ounce
-- Possession of firearm by convicted felon
-- Possession of hydrocodone
-- Possession of a firearm during the commission of a felony
-- Violation of probation for driving on a suspended license
-- Violating Georgia's "Criminal Street Gang and Terror Prevention Act"

His bail is currently set at $31,950 and his hearing is scheduled for tomorrow.

Source: TMZ

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Check out the quote from Waka just before his arrest.

Waka Flocka Flame surrendered himself to police  over an outstanding arrest warrant from when his house was raided. Police found several firearms, small amounts of marijuana & prescription drugs according to the police reports. The weapons were licensed to his security guards but police believe they where actually Waka's. 

Hip Hop Enquirer's Dennis Byron was able to get this quote right before Waka's arrest:

Dennis: "How do you feel right now about making the walk through those doors?"

Waka: "I am not going to fault anyone for my mistakes. I created the fame and now I have to pay the price."

Source: Hip Hop Enquirer