Quarterly report pursuant to Section 13 or 15(d)

INVENTORY

v3.20.2
INVENTORY
6 Months Ended
Jun. 30, 2020
INVENTORY  
NOTE 6. INVENTORY

NOTE 6 - INVENTORY

 

Raw materials consist of material for NuLeaf and IVXX’s line of cannabis pure concentrates. Work-in-progress consists of raw materials, labor and overhead expenses associated with the cultivation and production operations at NuLeaf and Black Oak Gallery. Finished goods consists of cannabis products sold in retail.

 

Inventory as of June 30, 2020 and December 31, 2019 consisted of the following:

  

 

 

(in thousands)

 

 

 

June 30,

 

 

December 31,

 

 

2020

 

2019

 

 

 

 

 

 

 

 

Raw materials

 

$ 2,503

 

 

$ 2,400

 

Work-in-progress

 

 

2,813

 

 

 

3,142

 

Finished goods

 

 

473

 

 

 

275

 

Inventory reserve

 

 

(1,021 )

 

 

(1,483 )

Total inventory

 

$ 4,768

 

 

$ 4,334