v3.19.1
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
3 Months Ended 12 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Dec. 31, 2018
Cash flows from operating activities:      
Net income (loss) attributable to MariMed Inc. $ (23,211) $ (1,895,142)  
Net income (loss) attributable to noncontrolling interests 101,199 63,233  
Adjustments to reconcile net income (loss) to net cash used in operating activities:      
Depreciation 218,196 80,791  
Amortization of intangibles 61,667  
Amortization of warrants 760,292  
Amortization of beneficial conversion feature 756,959  
Amortization of original issue discount 12,337  
Amortization of stock option and warrant issuances 527,163 572,807  
Loss on promissory note extinguishments 1,213,841  
Equity in earnings of investments (1,958,407)  
Changes in operating assets and liabilities:      
Accounts receivable (1,757,054) (668,561)  
Deferred rents receivable (2,293) (114,038)  
Due from third parties 708,302 (647,131)  
Seed inventory (3,250,000)  
Other current assets 48,055 (19,440)  
Other assets (152,981) 36,142  
Accounts payable (1,974,962) (110,555)  
Accrued expenses (134,287) 616,213  
Deferred rents payable (105,901)  
Operating lease payments 110,116  
Finance lease interest payments (420)  
Other liabilities (169,000)  
Net cash used in operating activities (6,224,230) (871,840)  
Cash flows from investing activities:      
Purchase of property and equipment (1,538,414) (1,294,858)  
Investment in convertible debentures  
Investment in notes receivable (509,421)  
Interest on notes receivable 14,894 10,398  
Due from related parties (1,040)  
Net cash used in investing activities (2,033,981) (1,284,460)  
Cash flows from financing activities:      
Proceeds from subscribed common stock 875,000  
Issuance of common stock 2,600,000 600,000  
Issuance of interest in subsidiary  
Issuance of promissory notes, net 6,000,000  
Payments on promissory notes (500,000)  
Proceeds from mortgages 524,593  
Payments on mortgages (29,461) (29,502)  
Exercise of stock options 13,000 39,000  
Exercise of warrants 15,800 30,846  
Due to related parties (56,040) (200,000)  
Finance lease principal payments (954)  
Distributions (172,614) (64,275)  
Net cash provided by financing activities 8,369,731 1,275,662  
Net change to cash and cash equivalents 111,520 (880,638)  
Cash and cash equivalents at beginning of period 4,104,315 1,290,231 $ 1,290,231
Cash and cash equivalents at end of period 4,215,835 409,593 $ 4,104,315
Supplemental disclosure of cash flow information:      
Cash paid for interest 316,616 291,912  
Cash paid for taxes 10,011 12,596  
Non-cash activities:      
Conversion of debentures receivable 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 advances to notes receivable 855,913  
Conversion of debentures payable 696,937  
Conversion of notes receivable to investment 257,687  
Issuance of common stock associated with subscriptions 169,123  
Conversion of promissory notes $ 5,526,536  

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