Post-effective amendment to a registration statement that is not immediately effective upon filing

PROPERTY AND EQUIPMENT

v3.22.1
PROPERTY AND EQUIPMENT
 3 Months Ended 12 Months Ended
Mar. 31, 2022
Dec. 31, 2021
PROPERTY AND EQUIPMENT    
Property And Equipment

6. PROPERTY AND EQUIPMENT

 

A reconciliation of the beginning and ending balances of property and equipment and accumulated depreciation during the three months ended March 31, 2022 and property and equipment, net as of December 31, 2021 are as follows:

 

 

 

Land and

 

 

Leasehold

 

 

Furniture

 

 

 

 

 

 

Construction

 

 

Right of

 

 

 

(in thousands)

 

Buildings

 

 

Improvements

 

 

and Fixtures

 

 

Equipment

 

 

Vehicles

 

 

in Process

 

 

Use Assets

 

 

Total

 

Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance—December 31, 2021

 

$

15,907

 

 

$

13,950

 

 

$

50

 

 

$

2,992

 

 

$

921

 

 

$

703

 

 

$

41,530

 

 

$

76,053

 

Additions

 

 

-

 

 

 

-

 

 

 

-

 

 

 

108

 

 

 

-

 

 

 

375

 

 

 

-

 

 

 

483

 

Business Acquisitions

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Disposals and Transfers

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balance—March 31, 2021

 

$

15,907

 

 

$

13,950

 

 

$

50

 

 

$

3,100

 

 

$

921

 

 

$

1,078

 

 

$

41,530

 

 

$

76,536

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance—December 31, 2021

 

$

(132

)

 

$

(980

)

 

$

(48

)

 

$

(618

)

 

$

(566

)

 

$

-

 

 

$

(8,930

)

 

$

(11,274

)

Depreciation

 

 

(52

)

 

 

(405

)

 

 

(10

)

 

 

(107

)

 

 

(38

)

 

 

-

 

 

 

(817

)

 

 

(1,429

)

Disposals

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

 

 

-

 

Balance—March 31, 2022

 

$

(184

)

 

$

(1,385

)

 

$

(58

)

 

$

(725

)

 

$

(604

)

 

$

-

 

 

$

(9,747

)

 

$

(12,703

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value-March 31, 2022

 

$

15,723

 

 

$

12,565

 

 

$

(8

)

 

$

2,375

 

 

$

317

 

 

$

1,078

 

 

$

31,783

 

 

$

63,833

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value-December 31, 2021

 

$

15,775

 

 

$

12,970

 

 

$

2

 

 

$

2,374

 

 

$

355

 

 

$

703

 

 

$

32,600

 

 

$

64,779

 

 

Construction in process represent assets under construction related to cultivation, manufacturing, and distribution facilities not yet completed or otherwise not placed in service.

 

Depreciation expense of $1,429 and $899 were recorded for the three months ended March 31, 2022 and 2021, respectively, of which $1,260 and $584 respectively, were included in cost of goods sold. Depreciation expense of $143 was also recorded in other income (expense) for the three months ended March 31, 2022.

6. PROPERTY AND EQUIPMENT

 

A reconciliation of the beginning and ending balances of property and equipment and accumulated depreciation during the years ended December 31, 2021 and 2020, and property and equipment, net as of for the same years are as follows:

 

 

 

Land and

 

 

Leasehold

 

 

Furniture

 

 

 

 

 

 

Construction

 

 

Right of

 

 

 

(in thousands)

 

Buildings

 

 

Improvements

 

 

and Fixtures

 

 

Equipment

 

 

Vehicles

 

 

in Process

 

 

Use Assets

 

 

Total

 

Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance—December 31, 2019

 

 $ 4,098

 

 

 $ 4,275

 

 

 $ 50

 

 

 $ 1,100

 

 

 $ 813

 

 

 $ 2,533

 

 

 $ 33,531

 

 

 $ 46,400

 

Additions

 

 

 8

 

 

 

 1,937

 

 

 

 -

 

 

 

 154

 

 

 

 41

 

 

 

 4,604

 

 

 

 106

 

 

 

 6,850

 

Business Acquisitions

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

Disposals

 

 

 (4,106 )

 

 

 4,587

 

 

 

 -

 

 

 

 22

 

 

 

 -

 

 

 

 (4,609 )

 

 

 7,310

 

 

 

 3,204

 

Balance—December 31, 2020

 

 $ -

 

 

 $ 10,799

 

 

 $ 50

 

 

 $ 1,276

 

 

 $ 854

 

 

 $ 2,528

 

 

 $ 40,947

 

 

 $ 56,454

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance—December 31, 2019

 

 $ (8 )

 

 $ (422 )

 

 $ (46 )

 

 $ (261 )

 

 $ (249 )

 

 $ -

 

 

 $ (2,442 )

 

 $ (3,428 )

Depreciation

 

 

 (57 )

 

 

 (212 )

 

 

 (1 )

 

 

 (166 )

 

 

 (162 )

 

 

 -

 

 

 

 (3,250 )

 

 

 (3,848 )

Disposals

 

 

 65

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 65

 

Balance—December 31, 2020

 

 $ -

 

 

 $ (634 )

 

 $ (47 )

 

 $ (427 )

 

 $ (411 )

 

 $ -

 

 

 $ (5,692 )

 

 $ (7,211 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value-December 31, 2020

 

 $ -

 

 

 $ 10,165

 

 

 $ 3

 

 

 $ 849

 

 

 $ 443

 

 

 $ 2,528

 

 

 $ 35,255

 

 

 $ 49,243

 

 

 

 

Land and

 

 

Leasehold

 

 

Furniture

 

 

 

 

 

 

 

 

Construction

 

 

Right of

 

 

 

 

(in thousands)

 

Buildings

 

 

Improvements

 

 

and Fixtures

 

 

Equipment

 

 

Vehicles

 

 

in Process

 

 

Use Assets

 

 

Total

 

Costs

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance—December 31, 2020

 

 $ -

 

 

 $ 10,799

 

 

 $ 50

 

 

 $ 1,276

 

 

 $ 854

 

 

 $ 2,528

 

 

 $ 41,530

 

 

 $ 57,037

 

Additions

 

 

 -

 

 

 

 82

 

 

 

 -

 

 

 

 770

 

 

 

 67

 

 

 

 2,091

 

 

 

 -

 

 

 

 3,010

 

Business Acquisitions

 

 

 15,538

 

 

 

 -

 

 

 

 -

 

 

 

 468

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 16,006

 

Disposals and Transfers

 

 

 369

 

 

 

 3,069

 

 

 

 -

 

 

 

 478

 

 

 

 -

 

 

 

 (3,916 )

 

 

 -

 

 

 

 (0 )

Balance—December 31, 2021

 

 $ 15,907

 

 

 $ 13,950

 

 

 $ 50

 

 

 $ 2,992

 

 

 $ 921

 

 

 $ 704

 

 

 $ 41,530

 

 

 $ 76,053

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Accumulated Depreciation

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Balance—December 31, 2020

 

 $ -

 

 

 $ (634 )

 

 $ (47 )

 

 $ (427 )

 

 $ (411 )

 

 $ -

 

 

 $ (5,692 )

 

 $ (7,211 )

Depreciation

 

 

 (132 )

 

 

 (346 )

 

 

 (1 )

 

 

 (191 )

 

 

 (155 )

 

 

 -

 

 

 

 (3,238 )

 

 

 (4,063 )

Disposals

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

 

 

 -

 

Balance—December 31, 2021

 

 $ (132 )

 

 $ (980 )

 

 $ (48 )

 

 $ (618 )

 

 $ (566 )

 

 $ -

 

 

 $ (8,930 )

 

 $ (11,274 )

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Net Book Value-December 31, 2021

 

 $ 15,775

 

 

 $ 12,970

 

 

 $ 2

 

 

 $ 2,374

 

 

 $ 355

 

 

 $ 704

 

 

 $ 32,600

 

 

 $ 64,779

 

Construction in process represent assets under construction related to cultivation, manufacturing, and distribution facilities not yet completed or otherwise not placed in service.

 

Depreciation expense of $4,063, $3,848 and $3,843, were recorded for the years ended December 31, 2021, 2020, and 2019 respectively, of which $2,336, 2,830 and $2,329 respectively, were included in cost of goods sold. Depreciation expense of $587 was also recorded in other income (expense) for the year ended December 31, 2021.