INVESTMENTS IN UNCONSOLIDATED AFFILIATES (Details Narrative) - $ / shares |
1 Months Ended | ||||
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Dec. 14, 2020 |
Nov. 24, 2020 |
Aug. 28, 2018 |
Dec. 31, 2020 |
Dec. 31, 2019 |
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Common stock shares outstanding | 194,204,459 | 118,004,978 | |||
Securities Purchase Agreement [Member] | |||||
Exercise price | $ 16.86 | ||||
Subscription Agreement [Member] | Hydrofarm [Member] | Board Of Directors [Member] | |||||
Exercise price | $ 8.43 | ||||
Common stock purchase description | the Company recorded its investment in Hydrofarm of 593,261 common shares at fair value, and the warrants to acquire an additional 296,630 of Hydrofarm common stock at an exercise price of $16.86, at their respective fair values. The difference in basis was recorded in current period earnings. | Hydrofarm Holdings Group, Inc. (“Hydrofarm”), one of the leading independent providers of hydroponic products in North America, pursuant to which the Company agreed to purchase from Hydrofarm and Hydrofarm agreed to sell to the Company 2,000,000 Units, each Unit consisting of one share of common stock and one warrant to purchase one-half of a share of common stock for an initial exercise price of $5.00 per share, for $2.50 per unit for an aggregate purchase price of $5.00 million. | |||
Owned Shares of common stock | 593,261 | ||||
Purchase of warrants | 296,630 | ||||
Common stock shares outstanding | 31,720,727 | ||||
Ownership percantage | 1.90% | ||||
Initial exercise price | $ 5.00 |
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- Definition Number of shares of common stock outstanding. Common stock represent the ownership interest in a corporation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The number of warrants issued in exchange for the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition The percentage of ownership of common stock or equity participation in the investee accounted for under the equity method of accounting. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Weighted average per share amount at which grantees can acquire shares of common stock by exercise of options. No definition available.
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- Definition Per share or per unit amount of equity securities issued. No definition available.
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