v3.20.2
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenues $ 9,610,306 $ 3,657,798 $ 17,076,325 $ 7,173,614
Revenues from related party 22,014,878 22,014,878
Total revenues 9,610,306 25,672,676 17,076,325 29,188,492
Cost of revenues 3,452,169 16,745,553 6,050,086 18,000,343
Gross profit 6,158,137 8,927,123 11,026,239 11,188,149
Operating expenses:        
Personnel 1,207,141 825,130 2,720,524 1,498,504
Marketing and promotion 65,618 76,060 178,002 194,959
General and administrative 2,336,102 2,676,454 4,584,037 4,357,476
Bad debts 450,000 450,000
Total operating expenses 4,058,861 3,577,644 7,932,563 6,050,939
Operating income 2,099,276 5,349,479 3,093,676 5,137,210
Non-operating income (expenses):        
Interest expense (2,969,191) (2,619,460) (5,660,336) (4,560,007)
Interest income 40,863 64,345 86,894 346,754
Loss on obligations settled with equity (44,678) (44,678)
Equity in earnings of investments (32,958) (45,465) (32,958) 1,912,942
Change in fair value of investments (234,544) (921,546)
Other 2,948,917 2,948,917
Total non-operating income (expenses), net (3,240,508) 348,337 (6,572,624) 648,606
Income (loss) before income taxes (1,141,232) 5,697,816 (3,478,948) 5,785,816
Provision for income taxes 974,584 984,595
Net income (loss) (1,141,232) 4,723,232 (3,478,948) 4,801,221
Net income (loss) attributable to noncontrolling interests 72,805 46,147 156,533 147,346
Net income (loss) attributable to MariMed Inc. $ (1,214,037) $ 4,677,085 $ (3,635,481) $ 4,653,875
Net income (loss) per share        
Basic $ (0.00) $ 0.02 $ (0.02) $ 0.02
Diluted $ (0.00) $ 0.02 $ (0.02) $ 0.02
Weighted average common shares outstanding        
Basic 247,990,403 213,319,149 240,664,873 211,510,986
Diluted 247,990,403 232,828,964 240,664,873 231,020,801

Source