MARIMED INC
For the period ended Dec 31, 2023. Filed Mar 7, 2024.
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FY2023 · Filed Mar 7, 2024
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Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(in thousands, except share and per share amounts)
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $14,645 | $9,737 |
| Accounts receivable, net | 7,199 | 4,157 |
| Inventory | 25,306 | 19,477 |
| Deferred rents receivable | 630 | 704 |
| Notes receivable, current portion | 52 | 2,637 |
| Investments, current portion | 88 | 123 |
| Due from related parties | 105 | 29 |
| Other current assets | 3,407 | 7,282 |
| Total current assets | 51,432 | 44,146 |
| Property and equipment, net | 89,103 | 71,641 |
| Intangible assets, net | 17,012 | 14,201 |
| Goodwill | 11,993 | 8,079 |
| Investments, net of current portion | 221 | — |
| Notes receivable, net of current portion | 814 | 7,467 |
| Operating lease right-of-use assets | 9,716 | 4,931 |
| Finance lease right-of-use assets | 3,295 | 713 |
| Other assets | 12,537 | 1,024 |
| Total assets | $196,123 | $152,202 |
| Liabilities, mezzanine equity and stockholders’ equity | ||
| Current liabilities: | ||
| Mortgages and notes payable, current portion | $723 | $3,774 |
| Accounts payable | 9,001 | 6,626 |
| Accrued expenses and other | 3,549 | 3,091 |
| Income taxes payable | 14,434 | 11,489 |
| Operating lease liabilities, current portion | 1,945 | 1,273 |
| Finance lease liabilities, current portion | 1,210 | 237 |
| Total current liabilities | 30,862 | 26,490 |
| Mortgages and notes payable, net of current portion | 65,652 | 25,943 |
| Operating lease liabilities, net of current portion | 8,455 | 4,173 |
| Finance lease liabilities, net of current portion | 2,140 | 461 |
| Other liabilities | 100 | 100 |
| Total liabilities | 107,209 | 57,167 |
| Commitments and contingencies | ||
| December 31, | ||
|---|---|---|
| 2023 | 2022 | |
| Mezzanine equity: | ||
| Series B convertible preferred stock, $0.001 par value; 4,908,333 shares authorized, issued and outstanding at December 31, 2023 and 2022 | 14,725 | 14,725 |
| Series C convertible preferred stock, $0.001 par value; 12,432,432 shares authorized; 1,155,274 and 6,216,216 shares issued and outstanding at December 31, 2023 and 2022, respectively | 4,275 | 23,000 |
| Total mezzanine equity | 19,000 | 37,725 |
| Stockholders’ equity: | ||
| Undesignated preferred stock, $0.001 par value; 32,659,235 shares authorized; zero shares issued and outstanding at December 31, 2023 and 2022 | — | — |
| Common stock, $0.001 par value; 700,000,000 shares authorized; 375,126,352 and 341,474,728 shares issued and outstanding at December 31, 2023 and 2022, respectively | 375 | 341 |
| Common stock subscribed but not issued; zero and 70,000 shares at December 31, 2022 and 2021, respectively | — | 39 |
| Additional paid-in capital | 171,144 | 142,365 |
| Accumulated deficit | (99,955) | (83,924) |
| Noncontrolling interests | (1,650) | (1,511) |
| Total stockholders’ equity | 69,914 | 57,310 |
| Total liabilities, mezzanine equity, and stockholders’ equity | $196,123 | $152,202 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.