SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)
|
9 Months Ended |
Sep. 30, 2022 |
|---|
| Accounting Policies [Abstract] |
|
| Property, Plant and Equipment |
The approximate useful lives for depreciation of property, equipment and leasehold improvements are as follows:
|
|
|
|
|
|
| Buildings |
32 years |
| Furniture and Equipment |
3 to 8 years |
| Computer and Software |
3 to 5 years |
| Vehicles |
5 years |
| Leasehold Improvements |
Shorter of lease term or economic life |
Property, equipment, and leasehold improvements as of September 30, 2022 and December 31, 2021 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
September 30,
2022 |
|
December 31,
2021 |
|
|
|
|
| Land and Building |
$ |
7,581 |
|
|
$ |
7,787 |
|
| Furniture and Equipment |
3,573 |
|
|
3,873 |
|
| Computer Hardware |
295 |
|
|
348 |
|
| Leasehold Improvements |
11,336 |
|
|
14,409 |
|
| Vehicles |
221 |
|
|
1,142 |
|
| Construction in Progress |
2,499 |
|
|
1,832 |
|
| Subtotal |
25,505 |
|
|
29,391 |
|
| Less Accumulated Depreciation |
(5,929) |
|
|
(5,663) |
|
| Property, Equipment and Leasehold Improvements, Net |
$ |
19,576
|
|
|
$ |
23,728
|
|
|
| Schedule of Finite-Lived Intangible Assets |
The approximate useful lives for amortization of intangible assets are as follows:
|
|
|
|
|
|
| Customer Relationships |
3 to 5 years |
| Trademark and Patent |
2 to 8 years |
| Dispensary Licenses |
14 years |
Intangible assets as of September 30, 2022 and December 31, 2021 consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
|
|
September 30, 2022 |
|
December 31, 2021 |
|
Estimated
Useful
Life in
Years |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Value |
|
Gross
Carrying
Amount |
|
Accumulated
Amortization |
|
Net
Carrying
Value |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Amortizing Intangible Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Customer Relationships |
3 to 5 |
|
$ |
7,400 |
|
|
$ |
(7,400) |
|
|
$ |
— |
|
|
$ |
7,400 |
|
|
$ |
(7,400) |
|
|
$ |
— |
|
| Trademarks and Patent |
2 to 8 |
|
4,500 |
|
|
(2,490) |
|
|
2,010 |
|
|
4,500 |
|
|
(750) |
|
|
3,750 |
|
| Operating Licenses |
14 |
|
12,239 |
|
|
(12,239) |
|
|
— |
|
|
100,701 |
|
|
(6,864) |
|
|
93,837 |
|
| Total Amortizing Intangible Assets |
|
|
24,139
|
|
|
(22,129) |
|
|
2,010
|
|
|
112,601
|
|
|
(15,014) |
|
|
97,587
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Non-Amortizing Intangible Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
| Trade Name |
Indefinite |
|
1,350 |
|
|
— |
|
|
1,350 |
|
|
32,050 |
|
|
— |
|
|
32,050 |
|
| Total Non-Amortizing Intangible Assets |
|
|
1,350
|
|
|
—
|
|
|
1,350
|
|
|
32,050
|
|
|
—
|
|
|
32,050
|
|
| Total Intangible Assets, Net |
|
|
$ |
25,489
|
|
|
$ |
(22,129) |
|
|
$ |
3,360
|
|
|
$ |
144,651
|
|
|
$ |
(15,014) |
|
|
$ |
129,637
|
|
|
| Disaggregation of Revenue |
The table below includes revenue disaggregated by geographic location for the periods presented:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Three Months Ended September 30, |
|
Nine Months Ended September 30, |
|
2022 |
|
2021 |
|
2022 |
|
2021 |
| California |
$ |
9,236 |
|
|
$ |
16,712 |
|
|
$ |
43,289 |
|
|
$ |
21,640 |
|
| Oregon |
1,526 |
|
|
3,340 |
|
|
5,753 |
|
|
3,340 |
|
| Total |
$ |
10,762
|
|
|
$ |
20,052
|
|
|
$ |
49,042
|
|
|
$ |
24,980
|
|
|
| Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share |
Potentially dilutive securities that are not included in the calculation of diluted net loss per share because their effect is anti-dilutive are as follows (in common equivalent shares):
|
|
|
|
|
|
|
|
|
|
|
|
|
Nine Months Ended
September 30, |
|
2022 |
|
2021 |
|
|
|
|
| Common Stock Warrants |
80,881,817 |
|
|
85,336,515 |
|
| Common Stock Options |
58,843,517 |
|
|
99,504,369 |
|
|
139,725,334
|
|
|
184,840,884
|
|
|