Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows

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Condensed Consolidated Statements of Cash Flows - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2024
Mar. 31, 2023
Cash flows from operating activities:    
Net loss attributable to common stockholders $ (1,298) $ (645)
Net income (loss) attributable to noncontrolling interests 6 (19)
Adjustments to reconcile net income (loss) to cash provided by operating activities:    
Depreciation and amortization of property and equipment 1,938 986
Amortization of intangible assets 374 557
Stock-based compensation 244 208
Amortization of original debt issuance discount 0 55
Amortization of debt discount 87 328
Amortization of debt issuance costs 18 0
Payment-in-kind interest 14 118
Present value adjustment of notes payable 0 719
Bad debt income 0 (44)
Obligations settled with common stock 1 1
Write-off of disposed assets 1 906
Gain on finance lease adjustment 0 (13)
Loss on changes in fair value of investments 121 20
Changes in operating assets and liabilities:    
Accounts receivable, net 707 (132)
Deferred rents receivable 18 18
Inventory (3,738) (3,246)
Other current assets 391 639
Other assets 63 19
Accounts payable 1,334 (1,961)
Accrued expenses and other 1,091 (207)
Income taxes payable 1,838 (2,806)
Net cash provided by (used in) operating activities 3,210 (4,499)
Cash flows from investing activities:    
Purchases of property and equipment (3,368) (3,052)
Business acquisitions, net of cash acquired 0 (2,995)
Advances toward future business acquisitions (485) (300)
Purchases of investments (86) 0
Purchases of cannabis licenses (265) (601)
Proceeds from notes receivable 13 43
Due from related party (75) (20)
Net cash used in investing activities (4,266) (6,925)
Cash flows from financing activities:    
Proceeds from term loan 0 29,100
Proceeds from Construction to Permanent Commercial Real Estate Mortgage Loan 1,047 0
Proceeds from mortgages 1,163 0
Principal payments of mortgages (65) (203)
Principal payments of promissory notes (135) (9)
Repayment and retirement of promissory notes 0 (5,503)
Principal payments of finance leases (320) (69)
Distributions (45) (34)
Net cash provided by financing activities 1,645 23,282
Net increase in cash and cash equivalents 589 11,858
Cash and equivalents, beginning of year 14,645 9,737
Cash and cash equivalents, end of period 15,234 21,595
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,685 1,100
Cash paid for income taxes 127 5,296
Non-cash activities:    
Common stock issued as purchase consideration 0 2,994
Present value of promissory note issued as purchase consideration 0 4,569
Warrants to purchase common stock issued with debt 0 5,454
Notes payable issued to purchase motor vehicles 0 49
Entry into new operating leases 0 5,366
Entry into new finance leases 513 224
Issuance of common stock associated with subscriptions $ 0 $ 39