Quarterly report pursuant to Section 13 or 15(d)

PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET (Tables)

v3.20.2
PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET (Tables)
6 Months Ended
Jun. 30, 2020
Schedule Property, equipment, and leasehold improvements

 

(in thousands)

 

 

 

 June 30,

 

 

December 31,

 

 

 

2020

 

 

2019

 

 

 

 

 

 

 

 

Land and building

 

$ 11,206

 

 

$ 11,206

 

Furniture and equipment

 

 

2,772

 

 

 

2,787

 

Computer hardware

 

 

210

 

 

 

299

 

Leasehold improvements

 

 

16,165

 

 

 

16,545

 

Construction in progress

 

 

10,131

 

 

 

9,676

 

 

 

 

 

 

 

 

 

 

Subtotal

 

 

40,484

 

 

 

40,513

 

Less accumulated depreciation

 

 

(6,418

)

 

 

(5,044 )

Property, equipment and leasehold improvements, net

 

 

 

 

 

 

 

 

 

 

$ 34,066

 

 

$ 35,469

 

Blum Santa Ana [Member]  
Schedule of gain upon sale of the assets

 

 

(in thousands)

 

 

 

 

 

Total consideration

 

$

3,800

 

 

 

 

 

 

Net book value of assets divested and liabilities transferred

 

 

 

 

Inventory

 

 

23

 

Prepaid and other current assets

 

 

33

 

Property, plant & equipment

 

 

98

 

Intangible assets and goodwill

 

 

6,565

 

Other long-term assets

 

 

54

 

Lease liability, net of right-of-use asset

 

 

(78

)

Net book value of assets divested and liabilities transferred

 

 

6,694

 

Loss on sale

 

$

(2,894

)

Edible Garden Inc. [Member]  
Schedule of gain upon sale of the assets

 

 

(in thousands)

 

Consideration

 

 

 

Fair value of note receivable

 

$

2,960

 

Fair value of options

 

 

330

 

Less: cash transferred to purchaser

 

 

(30

)

Total consideration

 

$

3,260

 

 

 

 

 

 

Net book value of assets divested and liabilities transferred

 

 

 

 

Accounts receivable

 

$

360

 

Inventory

 

 

520

 

Other current assets

 

 

80

 

Property, plant and equipment

 

 

4,100

 

Intangible assets

 

 

70

 

Other long-term assets

 

 

200

 

Accounts payable and accrued expenses

 

 

(1,700

)

Lease liabilities, net of right of use assets

 

 

(70

)

Net book value of assets divested and liabilities transferred

 

 

3,560

 

Loss on sale

 

$

(300

)