Annual report pursuant to Section 13 and 15(d)

Revenues

v3.20.1
Revenues
 12 Months Ended
Dec. 31, 2019
Revenue from Contract with Customer [Abstract]  
Revenues

NOTE 16 – REVENUES

 

For the years ended December 31, 2019 and 2018, the Company’s revenues were comprised of the following major categories:

 

    2019     2018  
Real estate   $ 6,836,316     $ 6,441,160  
Management     2,798,738       1,581,548  
Supply procurement     3,555,555       3,015,745  
Licensing     1,794,161       700,173  
Product sales     1,542,037       -  
Product sales to related party     29,029,249       -  
Other     48,589       113,289  
Total revenues   $ 45,604,644     $ 11,851,915  

 

For the year ended December 31, 2019, revenue from three clients represented 92% of total revenues. One of these clients was GenCanna, a related party, with whom the Company conducted the seed sale transactions previously disclosed in Note 1 – Organization and Description of Business. The total revenue from these transactions with GenCanna are reflected under Product Sales To Related Party in the table above.

 

Excluding the revenues from GenCanna, two clients represented 78% and 73% of revenues for the years ended December 31, 2019 and 2018, respectively.