NOTE 22 – SUBSEQUENT EVENTS

The Company has evaluated subsequent events through November 12, 2024, which is the date these consolidated financial statements were issued, and has concluded that the following subsequent events have occurred that would require recognition in the consolidated financial statements or disclosure in the notes to the consolidated financial statements.

On October 25, 2024, the sale transaction of The Spot pursuant to the Stock Purchase Agreement dated April 11, 2024 was closed for a total consideration of approximately $0.60 million.

On October 31, 2024, Unrivaled Brands, Inc. issued a secured promissory note for a principal amount of $50,000 that accrues interest at a rate of 11% per annum and matures on December 31, 2024.

On November 5, 2024, the Company, through its wholly-owned subsidiary Unrivaled Brands, Inc., executed stock purchase agreements with VLPS, LLC (the "Buyer") pursuant to which Unrivaled sold all of the issued and outstanding shares of common stock of Black Oak Gallery and Blüm San Leandro for an aggregate purchase price of $2.06 million and $1.12 million, respectively. The purchase price shall be paid by the Buyer by the assumption of liabilities of Blüm Oakland and Blüm San Leandro.

On November 6, 2024, Unrivaled Brands, Inc. and Halladay Holding, LLC entered Chapter 11 protection. This filing is limited to Unrivaled and Halladay, meaning only their assets and liabilities are included in the Debtor-in-Possession estates. The value of the assets held by Unrivaled and Halladay is unknown but estimated to be approximately $6.0 million at the time of filing and the total value of the liabilities is approximately $35.0 million. The Company has filed automatic stays for all litigation where Unrivaled is a party. Blum Holdings, Inc., along with all other operations of the Company, remains unaffected by this filing and will continue its operations as usual outside of the Chapter 11 proceedings.