| PROPERTY AND EQUIPMENT |
A reconciliation of the beginning
and ending balances of property and equipment and accumulated depreciation during the quarter ended March 31, 2021 is
as follows:
(in thousands)
Costs |
|
Land and Buildings |
|
|
Leasehold Improvements |
|
|
Furniture
and Fixtures |
|
|
Equipment |
|
|
Vehicles |
|
|
Construction in Process |
|
|
Right of Use Assets |
|
|
Total |
|
| Balance—December 31, 2020 |
|
$ |
- |
|
|
$ |
10,799 |
|
|
$ |
50 |
|
|
$ |
1,276 |
|
|
$ |
854 |
|
|
$ |
2,528 |
|
|
$ |
41,530 |
|
|
$ |
57,037 |
|
| Additions |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
280 |
|
|
|
- |
|
|
|
93 |
|
|
|
- |
|
|
|
373 |
|
| Business Acquisitions |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
192 |
|
|
|
- |
|
|
|
- |
|
|
|
547 |
|
|
|
739 |
|
| Disposals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Balance—March 31, 2021 |
|
$ |
- |
|
|
$ |
10,799 |
|
|
$ |
50 |
|
|
$ |
1,748 |
|
|
$ |
854 |
|
|
$ |
2,621 |
|
|
$ |
42,077 |
|
|
$ |
58,149 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Accumulated Depreciation |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Balance—December 31, 2020 |
|
$ |
- |
|
|
$ |
(634 |
) |
|
$ |
(47 |
) |
|
$ |
(427 |
) |
|
$ |
(411 |
) |
|
$ |
- |
|
|
$ |
(6,275 |
) |
|
$ |
(7,794 |
) |
| Depreciation |
|
|
- |
|
|
|
(241 |
) |
|
|
(236 |
) |
|
|
(35 |
) |
|
|
(133 |
) |
|
|
- |
|
|
|
(254 |
) |
|
|
(899 |
) |
| Disposals |
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
|
|
- |
|
| Balance—March 31, 2021 |
|
$ |
- |
|
|
$ |
(875 |
) |
|
$ |
(283 |
) |
|
$ |
(462 |
) |
|
$ |
(544 |
) |
|
$ |
- |
|
|
$ |
(6,529 |
) |
|
$ |
(8,693 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Book Value -March 31, 2021 |
|
$ |
- |
|
|
$ |
9,924 |
|
|
$ |
(233 |
) |
|
$ |
1,286 |
|
|
$ |
310 |
|
|
$ |
2,621 |
|
|
$ |
35,548 |
|
|
$ |
49,456 |
|
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Net Book Value -December 31, 2020 |
|
$ |
- |
|
|
$ |
10,165 |
|
|
$ |
3 |
|
|
$ |
849 |
|
|
$ |
443 |
|
|
$ |
2,528 |
|
|
$ |
35,255 |
|
|
$ |
49,243 |
|
Construction in progress
represent assets under construction related to cultivation, manufacturing, and distribution facilities not yet completed or otherwise
not placed in service.
Depreciation expense of $899
and $943 were recorded for the quarters ended March 31, 2021 and 2020, respectively, of which $584 and $514 respectively,
were included in cost of goods sold.
|