v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2020
Sep. 30, 2019
Sep. 30, 2020
Sep. 30, 2019
Income Statement [Abstract]        
Revenues $ 13,461,504 $ 4,209,328 $ 30,537,829 $ 11,382,942
Revenues from related party 7,014,371 29,029,249
Total revenues 13,461,504 11,223,699 30,537,829 40,412,191
Cost of revenues 4,781,677 6,523,283 10,831,763 24,523,626
Gross profit 8,679,827 4,700,416 19,706,066 15,888,565
Operating expenses:        
Personnel 1,354,644 1,241,535 4,075,168 2,740,039
Marketing and promotion 103,327 91,562 281,329 286,521
General and administrative 2,931,684 2,394,692 7,515,721 6,752,168
Bad debts 892,029 1,342,029
Total operating expenses 5,281,684 3,727,789 13,214,247 9,778,728
Operating income 3,398,143 972,627 6,491,819 6,109,837
Non-operating income (expenses):        
Interest expense (1,921,312) (4,516,576) (7,581,648) (9,076,583)
Interest income 34,818 79,016 121,712 425,770
Loss on obligations settled with equity (44,678)
Equity in earnings of investments 51,511 (2,933,252) 18,553 (1,020,310)
Change in fair value of investments 217,374 (704,172)
Other (84,708) (84,708) 2,948,917
Total non-operating income (expenses), net (1,702,317) (7,370,812) (8,274,941) (6,722,206)
Income (loss) before income taxes 1,695,826 (6,398,185) (1,783,122) (612,369)
Provision for income taxes   901,477 1,886,072
Net income (loss) 1,695,826 (7,299,662) (1,783,122) (2,498,441)
Net income (loss) attributable to noncontrolling interests 36,959 99,021 193,492 246,367
Net income (loss) attributable to MariMed Inc. $ 1,658,867 $ (7,398,683) $ (1,976,614) $ (2,744,808)
Net income (loss) per share        
Basic $ 0.006 $ (0.034) $ (0.008) $ (0.013)
Diluted $ 0.005 $ (0.034) $ (0.008) $ (0.013)
Weighted average common shares outstanding        
Basic 281,535,212 217,417,326 254,387,761 214,274,342
Diluted 346,091,840 217,417,326 254,387,761 214,274,342

Source