Blüm Holdings Inc. Registration of securities issued in business combination transactions

Registration of securities issued in business combination transactions

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

6 Months Ended

12 Months Ended

Jun. 30, 2023

Dec. 31, 2022

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

NOTE 6 - PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

Property, equipment, and leasehold improvements as of June 30, 2023 and December 31, 2022 consisted of the following:

	(in thousands)
	June 30, 2023			December 31, 2022

Land and Building	$	7,581		$	7,581
Furniture and Equipment		1,314			1,336
Computer Hardware		334			299
Leasehold Improvements		7,901			8,009
Vehicles		57			103
Construction in Progress		2,565			2,565
Subtotal		19,752			19,893
Less Accumulated Depreciation		(7,175	)		(6,893	)
Property, Equipment and Leasehold Improvements, Net	$	12,577		$	13,000

Depreciation expense related to continuing operations was $0.22 million and $0.93 million for the three months ended June 30, 2023 and 2022, respectively, and $0.43 million and $1.84 million for the six months ended June 30, 2023 and 2022, respectively.

NOTE 7 – PROPERTY, EQUIPMENT AND LEASEHOLD IMPROVEMENTS

Property, equipment, and leasehold improvements as of December 31, 2022 and 2021 consisted of the following:

	(in thousands)
	December 31, 2022			December 31, 2021

Land and Building	$	7,581		$	7,787
Furniture and Equipment		1,336			3,205
Computer Hardware		299			348
Leasehold Improvements		8,009			14,357
Vehicles		103			1,027
Construction in Progress		2,565			1,832
Subtotal		19,893			28,556
Less Accumulated Depreciation		(6,893	)		(5,392	)
Property, Equipment and Leasehold Improvements, Net	$	13,000		$	23,164

Depreciation expense related to continuing operations was $3.59 million and $2.01 million for the years ended December 31, 2022 and 2021, respectively.

On January 21, 2022, the Company sold its land in Spanish Springs, Nevada for $0.45 million to an unrelated third party.