General form of registration statement for all companies including face-amount certificate companies

PROPERTY AND EQUIPMENT

v3.21.1
PROPERTY AND EQUIPMENT
 3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
Property, Plant and Equipment [Abstract]    
PROPERTY AND EQUIPMENT

A reconciliation of the beginning and ending balances of property and equipment and accumulated depreciation during the quarters ended March 31, 2021 and 2020 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     -       -       -       -       -       -       -       -  
Disposals     -       -       -       -       -       -       -       -  
Balance—March 31, 2021   $ -     $ 10,799     $ 50     $ 1,556     $ 854     $ 2,621     $ 41,530     $ 57,410  
                                                                 
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 )   $ 1,094     $ 310     $ 2,621     $ 35,001     $ 48,717  
                                                                 
Net Book Value -December 31, 2020   $ -     $ 10,165     $ 3     $ 849     $ 443     $ 2,528     $ 35,255     $ 49,243  

 

(in thousands)  

Land and

Buildings

     Leasehold Improvements     Furniture and Fixtures     Equipment     Vehicles     Construction in Process    

Right of

Use Assets

     Total  
Costs                                                
Balance—December 31, 2019   $ 4,098     $ 4,275     $ 49     $ 1,100     $ 813     $ 2,533     $ 34,114     $ 46,982  
Additions     8       688       -       5       35       381       110       1,227  
Balance—March 31, 2020   $ 4,106     $ 4,963     $ 49     $ 1,105     $ 848     $ 2,914     $ 34,224     $ 48,209  
                                                                 
Accumulated Depreciation                                                                
Balance—December 31, 2019   $ (8 )   $ (422 )   $ (46 )   $ (261 )   $ (249 )   $ -     $ (3,025 )   $ (4,011 )
Depreciation     (24 )     (43 )     (1 )     (42 )     (41 )   $ -       (792 )     (943 )
Balance—March 31, 2020   $ (32 )   $ (465 )   $ (47 )   $ (303 )   $ (290 )   $ -     $ (3,817 )   $ (4,954 )
                                                                 
Net Book Value -March 31, 2020   $ 4,074     $ 4,498     $ 2     $ 802     $ 558     $ 2,914     $ 30,407     $ 43,255  

 

 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.

A reconciliation of the beginning and ending balances of property and equipment and accumulated depreciation during the years ended December 31, 2020 and 2019 is as follows:

 

(Amounts Expressed in United States Dollars Unless Otherwise Stated)

 

    Land and     Leasehold     Furniture                 Construction     Right of        
(in thousands)   Buildings     Improvements     and Fixtures     Equipment     Vehicles     in Process     Use Assets     Total  
Costs                                                
Balance—December 31, 2018   $ -     $ 1,509     $ 49     $ 2,062     $ 516     $ 895     $ -     $ 5,031  
Additions     4,098       2,766       -       1,192       297       1,638       10,520       20,511  
IFRS 16 Adoption     -       -       -       -       -       -       23,594       23,594  
Business Acquisitions     -       -       -       25       -       -       -       25  
Disposals     -       -       -       (2,179 )     -       -       -       (2,179 )
Balance—December 31, 2019   $ 4,098     $ 4,275     $ 49     $ 1,100     $ 813     $ 2,533     $ 34,114     $ 46,982  
Additions     8       1,937       1       154       41       4,604       106       6,851  
Lease Option Reassessment     -       -       -       -       -       -       7,310       7,310  
Disposals/Transfers     (4,106 )     4,587       -       22       -       (4,609 )     -       (4,106 )
Balance—December 31, 2020   $ -     $ 10,799     $ 50     $ 1,276     $ 854     $ 2,528     $ 41,530     $ 57,037  
                                                                 
Accumulated Depreciation                                                                
Balance—December 31, 2018   $ -     $ (260 )   $ (44 )   $ (570 )   $ (95 )   $ -     $ -     $ (969 )
Depreciation     (8 )     (186 )     (3 )     (478 )     (155 )     -       (3,025 )   $ (3,854 )
Disposals     -       24       -       786       2       -       -     $ 812  
Balance—December 31, 2019   $ (8 )   $ (422 )   $ (46 )   $ (261 )   $ (249 )   $ -     $ (3,025 )   $ (4,011 )
Depreciation     (57 )     (212 )     (1 )     (166 )     (162 )     -       (3,250 )     (3,848 )
Disposals     65       -       -       -       -       -       -       65  
Balance—December 31, 2020   $ -     $ (634 )   $ (47 )   $ (427 )   $ (411 )   $ -     $ (6,275 )   $ (7,794 )
                                                                 
Net Book Value                                                                
December 31, 2018   $ -     $ 1,249     $ 5     $ 1,492     $ 421     $ 895     $ -     $ 4,063  
December 31, 2019   $ 4,090     $ 3,853     $ 3     $ 839     $ 565     $ 2,533     $ 31,089     $ 42,972  
Balance—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 $3,848, $3,854 and $312 were recorded for the years ended December 31, 2020, 2019 and 2018, respectively, of which $2,830, $2,921 and $211, respectively, were included in cost of goods sold.