RELATED PARTY TRANSACTIONS |
9 Months Ended |
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Sep. 30, 2023 | |
| RELATED PARTY TRANSACTIONS | |
| Related-party Transactions |
16. RELATED-PARTY TRANSACTIONS
Transactions with related parties are entered into in the normal course of business and are measured at the amount established and agreed to by the parties.
During October 2022, Cannaco Research Corporation, an existing customer, became a related party when a new member joined the Board of Directors. Total sales recognized for Cannaco Research Corporation for the nine months ended September 30, 2023 and 2022 were $284 and $129, respectively. In December, 2022, the Company entered into an agreement with Cannaco Research Corporation to lease approximately 2,000 square feet of warehouse space in Los Angeles to facilitate distribution services in the area. The lease is a 12 month storage agreement for the warehouse space. Total payments to Cannaco Research Corporation for the lease were $100 in the nine months ended September 30, 2023.
In October 2023, the Company repurchased its outstanding Convertible Debentures. Refer to Note 18 Subsequent Events for further details of the transaction. |
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- References No definition available.
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- Definition The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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