v3.19.3
Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2019
Sep. 30, 2018
Sep. 30, 2019
Sep. 30, 2018
Income Statement [Abstract]        
Revenues $ 4,209,328 $ 3,391,582 $ 11,382,942 $ 8,411,858
Revenues from related party 7,014,371 29,029,249
Total revenues 11,223,699 3,391,582 40,412,191 8,411,858
Cost of revenues 6,523,283 1,521,783 24,523,626 3,324,009
Gross profit 4,700,416 1,869,799 15,888,565 5,087,849
Operating expenses:        
Personnel 1,241,535 352,257 2,740,039 821,815
Marketing and promotion 91,562 37,202 286,521 166,906
General and administrative 2,394,692 2,029,333 6,752,168 4,516,132
Total operating expenses 3,727,789 2,418,792 9,778,728 5,504,853
Operating income (loss) 972,627 (548,993) 6,109,837 (417,004)
Non-operating income (expenses):        
Interest expense (4,516,576) (478,118) (9,076,583) (1,080,637)
Interest income 79,016 23,270 425,770 62,176
Loss on debt settlements (2,407,671) (4,184,631)
Equity in losses of investments (2,933,252) (1,020,310)
Other 2,948,917 (3,600)
Total non-operating expenses (7,370,812) (2,862,519) (6,722,206) (5,206,692)
Loss before income taxes (6,398,185) (3,411,512) (612,369) (5,623,696)
Provision for income taxes 901,477 1,886,072 12,407
Net loss (7,299,662) (3,411,512) (2,498,441) (5,636,103)
Net income (loss) attributable to noncontrolling interests 99,021 91,362 246,367 223,882
Net income (loss) attributable to MariMed Inc. $ (7,398,683) $ (3,502,874) $ (2,744,808) $ (5,859,985)
Net loss per share $ (0.034) $ (0.018) $ (0.013) $ (0.031)
Weighted average common shares outstanding 217,417,326 196,415,503 214,274,342 186,952,362

Source