v3.20.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Dec. 31, 2019
Cash flows from operating activities:      
Net income (loss) attributable to MariMed Inc. $ (2,421,444) $ (23,211)  
Net income (loss) attributable to noncontrolling interests 83,728 101,199  
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation 484,091 218,196  
Amortization of intangibles 79,079 61,667  
Amortization of stock grants 5,365  
Amortization of option grants 317,355 527,163  
Amortization of warrants attached to debt 223,363 760,292  
Amortization of beneficial conversion feature 990,846 756,959  
Amortization of original issue discount 56,808 12,337  
Inventory absorption 17,999  
Equity in earnings of investments (1,958,407)  
Change in fair value of investments 687,002  
Changes in operating assets and liabilities:      
Accounts receivable, net (842,914) (1,757,054)  
Deferred rents receivable (204,253) (2,293)  
Due from third parties, net (99,320) 708,302  
Inventory (1,496,168) (3,250,000)  
Other current assets 19,314 48,055  
Other assets (32,000) (152,981)  
Accounts payable 21,180 (1,974,962)  
Accrued expenses 837,128 (134,287)  
Deferred rents payable (105,901)  
Operating lease payments 79,523 110,116  
Finance lease interest payments 2,087 (420)  
Other current liabilities 784,126  
Other liabilities (169,000)  
Net cash used in operating activities (407,105) (6,224,230)  
Cash flows from investing activities:      
Purchase of property and equipment (1,363,169) (1,538,414)  
Purchase of cannabis licenses (25,000)  
Investment in notes receivable (509,421)  
Interest on notes receivable 34,397 14,894  
Due from related parties (1,040)  
Net cash used in investing activities (1,353,772) (2,033,981)  
Cash flows from financing activities:      
Issuance of common stock 2,600,000  
Issuance of promissory notes 4,517,500 6,000,000  
Repayments of promissory notes (2,400,000)  
Proceeds from issuance of debentures 935,000  
Proceeds from mortgages 235,900  
Payments on mortgages (60,381) (29,461)  
Exercise of stock options 13,000  
Exercise of warrants 15,800  
Due to related parties (240,547) (56,040)  
Finance lease principal payments (9,603) (954)  
Distributions (100,905) (172,614)  
Net cash provided by financing activities 2,876,964 8,369,731  
Net change to cash and cash equivalents 1,116,087 111,520  
Cash and cash equivalents at beginning of period 738,688 4,104,315 $ 4,104,315
Cash and cash equivalents at end of period 1,854,775 4,215,835 $ 738,688
Supplemental disclosure of cash flow information:      
Cash paid for interest 380,084 316,616  
Cash paid for income taxes 13,000 10,011  
Non-cash activities:      
Conversions of debentures payable 1,804,657 696,937  
Beneficial conversion feature on debentures payable 379,183  
Discount on debentures payable 28,021  
Exchange of common stock to preferred stock 14,725,000  
Conversion of accrued interest to promissory note 1,500,000  
Issuance of common stock associated with subscriptions 1,168,074 169,123  
Conversion of debentures receivable to investment 30,000,000  
Operating lease right-of-use assets and liabilities 6,334,392  
Finance lease right-of-use assets and liabilities 33,855  
Conversion of notes receivable to investment 257,687  
Conversion of advances to notes receivable $ 855,913  

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