Quarterly report pursuant to Section 13 or 15(d)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

v3.22.2.2
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