Schedule of Business Acquisitions by Acquisition, Contingent Consideration |
The table below represents the allocation of the purchase price to the acquired net assets during the year ended December 31, 2022.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HRG |
|
STL |
|
Total |
|
|
|
|
|
|
|
Inventory |
$ |
4,170 |
|
|
$ |
279 |
|
|
$ |
4,449 |
|
|
|
|
|
|
|
|
Prepaids and other current assets |
76 |
|
|
10 |
|
|
86 |
|
|
|
|
|
|
|
|
Furniture and equipment |
148 |
|
|
— |
|
|
148 |
|
|
|
|
|
|
|
|
Operating lease right of use asset |
666 |
|
|
— |
|
|
666 |
|
|
|
|
|
|
|
|
Operating lease liability |
(666) |
|
|
— |
|
|
(666) |
|
|
|
|
|
|
|
|
Customer relationships |
2,430 |
|
|
— |
|
|
2,430 |
|
|
|
|
|
|
|
|
Trademark |
496 |
|
|
— |
|
|
496 |
|
|
|
|
|
|
|
|
Non-compete |
255 |
|
|
— |
|
|
255 |
|
|
|
|
|
|
|
|
Goodwill |
5,816 |
|
|
135 |
|
|
5,951 |
|
|
|
|
|
|
|
|
Total |
$ |
13,391 |
|
|
$ |
424 |
|
|
$ |
13,815 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The table below represents the consideration paid for the net assets acquired in business combinations.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
HRG |
|
STL |
|
Total |
Cash |
$ |
6,806 |
|
|
$ |
424 |
|
|
$ |
7,230 |
|
Indemnity stock holdback |
875 |
|
|
— |
|
|
875 |
|
Common stock |
5,710 |
|
|
— |
|
|
5,710 |
|
Total |
$ |
13,391 |
|
|
$ |
424 |
|
|
$ |
13,815 |
|
The table below represents the allocation of the purchase price to the acquired net assets during the year ended December 31, 2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agron |
|
Aquarius |
|
55 Hydro |
|
Charcoir |
|
San Diego Hydro |
|
Grow Warehouse |
|
Grow Depot Maine |
|
Indoor Garden |
|
Downriver |
Inventory |
$ |
— |
|
|
$ |
957 |
|
|
$ |
780 |
|
|
$ |
839 |
|
|
$ |
1,400 |
|
|
$ |
2,450 |
|
|
$ |
326 |
|
|
$ |
372 |
|
|
$ |
824 |
|
Prepaids and other current assets |
46 |
|
|
12 |
|
|
29 |
|
|
534 |
|
|
36 |
|
|
30 |
|
|
3 |
|
|
— |
|
|
3 |
|
Furniture and equipment |
29 |
|
|
63 |
|
|
50 |
|
|
— |
|
|
315 |
|
|
250 |
|
|
25 |
|
|
94 |
|
|
50 |
Liabilities |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(169) |
|
|
— |
|
|
— |
|
|
— |
|
Operating lease right of use asset |
98 |
|
|
108 |
|
|
861 |
|
|
— |
|
|
1,079 |
|
|
641 |
|
|
92 |
|
|
137 |
|
|
273 |
|
Operating lease liability |
(98) |
|
|
(108) |
|
|
(861) |
|
|
— |
|
|
(1,079) |
|
|
(641) |
|
|
(92) |
|
|
(137) |
|
|
(273) |
|
Customer relationships |
832 |
|
|
339 |
|
|
809 |
|
|
5,712 |
|
|
605 |
|
|
1,256 |
|
|
549 |
|
|
210 |
|
|
634 |
|
Trade name |
1,530 |
|
|
485 |
|
|
870 |
|
|
1,099 |
|
|
1,192 |
|
|
2,748 |
|
|
344 |
|
|
353 |
|
|
698 |
|
Non-compete |
139 |
|
|
— |
|
|
26 |
|
|
— |
|
|
6 |
|
|
94 |
|
|
36 |
|
|
2 |
|
|
16 |
|
Intellectual property |
— |
|
|
— |
|
|
— |
|
|
2,065 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Goodwill |
8,673 |
|
|
1,702 |
|
|
3,915 |
|
|
6,119 |
|
|
5,728 |
|
|
11,120 |
|
|
866 |
|
|
661 |
|
|
2,126 |
|
Total |
$ |
11,249 |
|
|
$ |
3,558 |
|
|
$ |
6,479 |
|
|
$ |
16,368 |
|
|
$ |
9,282 |
|
|
$ |
17,779 |
|
|
$ |
2,149 |
|
|
$ |
1,692 |
|
|
$ |
4,351 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harvest |
|
Aquaserene |
|
Mendocino |
|
CGS |
|
Hoagtech |
|
All Seasons |
|
MMI |
|
|
|
Total |
Inventory |
$ |
1,204 |
|
|
1,696 |
|
|
753 |
|
|
875 |
|
|
751 |
|
|
100 |
|
|
3,530 |
|
|
|
|
$ |
16,857 |
|
Prepaids and other current assets |
7 |
|
|
2 |
|
|
1 |
|
|
1 |
|
|
37 |
|
|
1 |
|
|
— |
|
|
|
|
742 |
|
Furniture and equipment |
100 |
|
|
500 |
|
|
160 |
|
|
100 |
|
|
144 |
|
|
25 |
|
|
328 |
|
|
|
|
2,233 |
|
Liabilities |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
(29) |
|
|
— |
|
|
(250) |
|
|
|
|
(448) |
|
Operating lease right of use asset |
3,782 |
|
|
1,177 |
|
|
408 |
|
|
746 |
|
|
1,569 |
|
|
37 |
|
|
2,332 |
|
|
|
|
13,340 |
|
Operating lease liability |
(3,782) |
|
|
(1,177) |
|
|
(408) |
|
|
(746) |
|
|
(1,569) |
|
|
(37) |
|
|
(2,332) |
|
|
|
|
(13,340) |
|
Customer relationships |
1,016 |
|
|
1,235 |
|
|
575 |
|
|
1,382 |
|
|
493 |
|
|
154 |
|
|
2,964 |
|
|
|
|
18,765 |
|
Trade name |
1,392 |
|
|
1,231 |
|
|
414 |
|
|
852 |
|
|
428 |
|
|
117 |
|
|
1,039 |
|
|
|
|
14,792 |
|
Non-compete |
— |
|
|
11 |
|
|
6 |
|
|
11 |
|
|
3 |
|
|
— |
|
|
238 |
|
|
|
|
588 |
|
Intellectual property |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
|
|
2,065 |
|
Goodwill |
4,606 |
|
|
6,976 |
|
|
2,091 |
|
|
4,027 |
|
|
2,105 |
|
|
545 |
|
|
1,202 |
|
|
|
|
62,462 |
|
Total |
$ |
8,325 |
|
|
11,651 |
|
|
4,000 |
|
|
$ |
7,248 |
|
|
3,932 |
|
|
942 |
|
|
$ |
9,051 |
|
|
|
|
$ |
118,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
The table below represents the consideration paid for the net assets acquired in business combinations during 2021:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agron |
|
Aquarius |
|
55 Hydro |
|
Charcoir |
|
San Diego Hydro |
|
Grow Warehouse |
|
Grow Depot Maine |
|
Indoor Garden |
|
Downriver |
Cash |
$ |
5,973 |
|
|
$ |
2,331 |
|
|
$ |
5,347 |
|
|
$ |
9,902 |
|
|
$ |
4,751 |
|
|
$ |
8,100 |
|
|
$ |
1,738 |
|
|
$ |
1,165 |
|
|
$ |
3,177 |
|
Common stock |
5,276 |
|
|
1,227 |
|
|
1,132 |
|
|
6,466 |
|
|
4,531 |
|
|
9,679 |
|
|
411 |
|
|
527 |
|
|
1,174 |
|
Total |
$ |
11,249 |
|
|
$ |
3,558 |
|
|
$ |
6,479 |
|
|
$ |
16,368 |
|
|
$ |
9,282 |
|
|
$ |
17,779 |
|
|
$ |
2,149 |
|
|
$ |
1,692 |
|
|
$ |
4,351 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harvest |
|
Aquaserene |
|
Mendocino |
|
CGS |
|
Hoagtech |
|
All Seasons |
|
MMI |
|
|
|
Total |
Cash |
$ |
5,561 |
|
|
$ |
9,860 |
|
|
$ |
4,000 |
|
|
$ |
5,976 |
|
|
$ |
3,932 |
|
|
$ |
701 |
|
|
$ |
8,270 |
|
|
|
|
$ |
80,784 |
|
Common stock |
2,764 |
|
|
1,791 |
|
|
— |
|
|
1,272 |
|
|
— |
|
|
241 |
|
|
781 |
|
|
|
|
37,272 |
|
Total |
$ |
8,325 |
|
|
$ |
11,651 |
|
|
$ |
4,000 |
|
|
$ |
7,248 |
|
|
$ |
3,932 |
|
|
$ |
942 |
|
|
$ |
9,051 |
|
|
|
|
$ |
118,056 |
|
The table below represents the allocation of the purchase price to the acquired net assets during the year ended December 31, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canopy |
|
Grassroots |
|
GrowBiz |
|
BGT |
|
Hydro Depot |
|
Emerald City |
|
H2O Hydro |
|
Health & Harvest |
|
Total |
Inventory |
$ |
899 |
|
|
$ |
2,348 |
|
|
$ |
6,286 |
|
|
$ |
1,595 |
|
|
$ |
333 |
|
|
$ |
150 |
|
|
$ |
498 |
|
|
$ |
1,054 |
|
|
$ |
13,163 |
|
Prepaids and other current assets |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
4 |
|
|
— |
|
|
4 |
|
Building |
— |
|
|
— |
|
|
— |
|
|
477 |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
477 |
|
Furniture and equipment |
— |
|
|
150 |
|
|
200 |
|
|
250 |
|
|
25 |
|
|
10 |
|
|
50 |
|
|
51 |
|
|
736 |
|
Operating lease right to use asset |
— |
|
|
1,437 |
|
|
3,641 |
|
|
246 |
|
|
— |
|
|
140 |
|
|
906 |
|
|
324 |
|
|
6,694 |
|
Operating lease liability |
— |
|
|
(1,437) |
|
|
(3,641) |
|
|
(246) |
|
|
— |
|
|
(140) |
|
|
(906) |
|
|
(324) |
|
|
(6,694) |
|
Customer relationships |
2,274 |
|
|
768 |
|
|
1,969 |
|
|
634 |
|
|
148 |
|
|
212 |
|
|
150 |
|
|
255 |
|
|
6,410 |
|
Trade name |
1,094 |
|
|
2,140 |
|
|
7,483 |
|
|
1,953 |
|
|
212 |
|
|
— |
|
|
234 |
|
|
357 |
|
|
13,473 |
|
Non-compete |
113 |
|
|
133 |
|
|
372 |
|
|
96 |
|
|
19 |
|
|
14 |
|
|
43 |
|
|
6 |
|
|
796 |
|
Goodwill |
4,860 |
|
|
4,461 |
|
|
28,476 |
|
|
4,039 |
|
|
799 |
|
|
614 |
|
|
1,008 |
|
|
1,131 |
|
|
45,388 |
|
Total |
$ |
9,240 |
|
|
$ |
10,000 |
|
|
$ |
44,786 |
|
|
$ |
9,044 |
|
|
$ |
1,536 |
|
|
$ |
1,000 |
|
|
$ |
1,987 |
|
|
$ |
2,854 |
|
|
$ |
80,447 |
|
The table below represents the consideration paid for the net assets acquired in business combinations during 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canopy |
|
Grassroots |
|
GrowBiz |
|
BGT |
|
Hydro Depot |
|
Emerald City |
|
H2O Hydro |
|
Health & Harvest |
|
Total |
Cash |
$ |
5,424 |
|
|
$ |
7,499 |
|
|
$ |
17,487 |
|
|
$ |
5,972 |
|
|
$ |
988 |
|
|
$ |
1,000 |
|
|
$ |
1,282 |
|
|
$ |
1,750 |
|
|
$ |
41,402 |
|
Common stock |
3,816 |
|
|
2,501 |
|
|
27,299 |
|
|
3,072 |
|
|
548 |
|
|
— |
|
|
705 |
|
|
1,104 |
|
|
39,045 |
|
Total |
$ |
9,240 |
|
|
$ |
10,000 |
|
|
$ |
44,786 |
|
|
$ |
9,044 |
|
|
$ |
1,536 |
|
|
$ |
1,000 |
|
|
$ |
1,987 |
|
|
$ |
2,854 |
|
|
$ |
80,447 |
|
|
Schedule of revenue and earnings included in consolidated income statement |
The following table discloses the date of the acquisition noted above and the revenue and earnings included in the Consolidated Statement of Operations for the year ended December 31, 2022. Revenue and earnings amounts include other proprietary brands now being included under HRG for operations.
|
|
|
|
|
|
|
|
|
|
|
|
|
HRG |
STL |
Total |
Acquisition date |
February 1, 2022 |
November 3, 2022 |
|
Revenue |
$ |
19,239 |
|
$ |
178 |
|
$ |
19,417 |
|
Net Income (loss) |
$ |
(629) |
|
$ |
41 |
|
$ |
(588) |
|
The following table discloses the date of the acquisitions noted above and the revenue and earnings included in the consolidated income statement from the date of acquisition to the period ended December 31, 2021.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Agron |
|
Aquarius |
|
55 Hydro |
|
Charcoir |
|
San Diego Hydro |
|
Grow Warehouse LLC |
|
Grow Depot Maine |
|
Indoor Garden |
|
Downriver |
Acquisition date |
3/19/2021 |
|
3/15/2021 |
|
3/15/2021 |
|
3/12/2021 |
|
2/22/2021 |
|
2/15/2021 |
|
2/1/2021 |
|
1/25/2021 |
|
3/31/2021 |
Revenue |
$ |
14,403 |
|
|
$ |
9,640 |
|
|
$ |
6,017 |
|
|
$ |
6,840 |
|
|
$ |
7,173 |
|
|
$ |
13,147 |
|
|
$ |
6,655 |
|
|
$ |
6,265 |
|
|
$ |
3,663 |
|
Net Income (loss) |
$ |
(305) |
|
|
$ |
1,679 |
|
|
$ |
399 |
|
|
$ |
1,039 |
|
|
$ |
906 |
|
|
$ |
2,175 |
|
|
$ |
1,132 |
|
|
$ |
1,088 |
|
|
$ |
297 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Harvest |
|
Aquaserene |
|
Mendocino |
|
CGS |
|
Hoagtech |
|
All Seasons |
|
MMI |
|
|
|
Total |
Acquisition date |
5/3/21 |
|
7/19/21 |
|
7/19/21 |
|
8/24/21 |
|
8/23/21 |
|
10/15/21 |
|
12/31/21 |
|
|
|
|
Revenue |
$ |
6,706 |
|
|
$ |
2,742 |
|
|
$ |
1,455 |
|
|
$ |
1,534 |
|
|
$ |
1,564 |
|
|
$ |
187 |
|
|
$ |
— |
|
|
|
|
$ |
87,991 |
|
Net Income (loss) |
$ |
924 |
|
|
$ |
445 |
|
|
$ |
106 |
|
|
$ |
15 |
|
|
$ |
141 |
|
|
$ |
52 |
|
|
$ |
— |
|
|
|
|
$ |
10,093 |
|
The following table discloses the date of the acquisitions noted above and the revenue and earnings included in the consolidated income statement from the date of acquisition to the period ended December 31, 2020:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Canopy |
|
Grassroots |
|
GrowBiz |
|
BGT |
|
Hydro Depot |
|
Emerald City |
|
H2O Hydro |
|
Health & Harvest |
|
Total |
Acquisition date |
12/23/2020 |
|
12/14/2020 |
|
11/17/2020 |
|
10/20/2020 |
|
10/12/2020 |
|
8/10/2020 |
|
6/16/2020 |
|
2/26/2020 |
|
|
Revenue |
$ |
301 |
|
|
$ |
532 |
|
|
$ |
3,852 |
|
|
$ |
1,859 |
|
|
$ |
1,245 |
|
|
$ |
5,635 |
|
|
$ |
2,418 |
|
|
$ |
8,995 |
|
|
$ |
24,837 |
|
Net Income |
$ |
141 |
|
|
$ |
74 |
|
|
$ |
736 |
|
|
$ |
188 |
|
|
$ |
149 |
|
|
$ |
1,005 |
|
|
$ |
562 |
|
|
$ |
1,066 |
|
|
$ |
3,921 |
|
|