Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

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Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Cash flows from operating activities:    
Net income attributable to common stockholders $ 6,011 $ 11,713
Net income attributable to noncontrolling interests 126 186
Adjustments to reconcile net income to cash provided by operating activities:    
Depreciation and amortization of property and equipment 1,552 963
Amortization of intangible assets 425 346
Stock-based compensation 5,024 1,600
Amortization of warrants attached to debt 539
Amortization of beneficial conversion feature 177
Amortization of original issue discount 52
Bad debt expense 14 1,819
Fees paid with stock 274
Loss on obligations settled with equity 3
(Gain) loss on changes in fair value of investments 679 415
Other investment income (954)
Changes in operating assets and liabilities:    
Accounts receivable, net (3,554) (3,230)
Deferred rents receivable 99 125
Inventory (1,795) (2,398)
Other current assets (1,267) (1,373)
Other assets (392) (17)
Accounts payable 2,024 1,699
Accrued expenses and other 180 4,973
Income taxes payable (6,467)
Net cash provided by operating activities 1,979 17,592
Cash flows from investing activities:    
Purchases of property and equipment (7,854) (7,976)
Business acquisitions, net of cash acquired (12,746)
Purchases of cannabis licenses (330) (638)
Proceeds from notes receivable 73
Interest on notes receivable 119
Net cash used in investing activities (20,857) (8,495)
Cash flows from financing activities:    
Proceeds from issuance of preferred stock 23,000
Equity issuance costs (387)
Proceeds from issuance of promissory notes 35
Principal payments of mortgages and promissory notes (611) (16,098)
Proceeds from exercise of stock options 3 9
Proceeds from exercise of warrants 61
Repayment of loans from related parties (1,158)
Principal payments of finance leases (102) (18)
Redemption of minority interests (2,000)
Distributions (184) (183)
Net cash (used in) provided by financing activities (2,894) 5,261
Net (decrease) increase in cash and cash equivalents (21,772) 14,358
Cash and equivalents, beginning of year 29,683 2,999
Cash and cash equivalents, end of period 7,911 17,357
Supplemental disclosure of cash flow information:    
Cash paid for interest 647 1,405
Cash paid for income taxes 11,877 419
Non-cash activities:    
Stock issued as purchase consideration 1,500
Conversion of promissory notes 400 2,260
Conversions of debentures payable 1,356
Operating lease right-of-use assets and liabilities 322 466
Finance lease right-of-use assets and liabilities 519
Common stock issued to settle obligations 51
Issuance of common stock associated with subscriptions 5
Cashless exercise of warrants 180
Cashless exercise of stock options $ 53