Blüm Holdings Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET (Tables)

PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET (Tables)

12 Months Ended

Dec. 31, 2020

PROPERTY EQUIPMENT AND LEASEHOLD IMPROVEMENTS NET

Schedule Property, equipment, and leasehold improvements

		(in thousands)
		December 31,				December 31,
		2020				2019

Land and building		$	11,206			$	11,206
Furniture and equipment			2,913				2,787
Computer hardware			215				299
Leasehold improvements			16,459				16,545
Construction in progress			9,922				9,676

Subtotal			40,715				40,513
Less accumulated depreciation			(8,235	)			(5,044	)
Property, equipment and leasehold improvements, net
		$	32,480			$	35,469

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	)

		(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	)