ACQUISITIONS (Tables)

9 Months Ended

Sep. 30, 2021

Business Combination and Asset Acquisition [Abstract]

Schedule of purchase price

The table below represents the allocation of the purchase price to the acquired net assets during the nine months ended September 30, 2021.

	Agron		Aquarius		Aqua Serene		55 Hydro		Charcoir		San Diego Hydro		Mendocino		Hoagtech
Inventory	$	—	$	957	$	1,696	$	780	$	839	$	1,400	753		751
Prepaids and other current assets	29		12		2		29		534		36		1		37
Furniture and equipment	46		63		500		50		—		315		160		144
Liabilities	—		—		—		—		—		—		—		—
Operating lease right to use asset	98		108		1,177		861		—		1,079		408		1,569
Operating lease liability	(98)		(108)		(1,177)		(861)		—		(1,079)		(408)		(1,569)
Customer relationships	832		339		1,235		809		5,712		605		575		493
Trade name	1,530		485		1,231		870		1,099		1,192		449		428
Non-compete	139		—		11		26		—		6		6		3
Intellectual property	—		—		—		—		2,065		—		—		—
Goodwill	8,673		1,702		6,976		3,915		6,119		5,728		2,056		2,076
Total	$	11,249	$	3,558	$	11,651	$	6,479	$	16,368	$	9,282	$	4,000	$	3,932

	CGS		Grow Warehouse		Grow Depot Maine		Indoor Garden		Down River Hydro		Harvest		Total
Inventory	875		$	2,450	$	326	$	372	$	824	$	1,204	$	13,227
Prepaids and other current assets	1		30		3		—		3		7		724
Furniture and equipment	100		250		25		94		50		100		1,897
Liabilities	—		(169)		—		—		—		—		(169)
Operating lease right to use asset	746		641		92		137		273		3,782		10,971
Operating lease liability	(746)		(641)		(92)		(137)		(273)		(3,782)		(10,971)
Customer relationships	1,382		1,256		549		210		634		1,016		15,647
Trade name	852		2,748		344		353		698		1,392		13,671
Non-compete	11		94		36		2		16		—		350
Intellectual property	—		—		—		—		—		—		2,065
Goodwill	4,027		11,120		866		661		2,126		4,606		60,651
Total	$	7,248	$	17,779	$	2,149	$	1,692	$	4,351	$	8,325	$	108,063

The table below represents the consideration paid for the net assets acquired in business combinations.

	Agron		Aquarius		Aqua Serene		55 Hydro		Charcoir		San Diego Hydro		Mendocino		Hoagtech
Cash	$	5,973	$	2,331	$	9,860	$	5,347	$	9,902	$	4,751	$	4,000	$	3,932
Common stock	5,276		1,227		1,791		1,132		6,466		4,531		—		—
Total	$	11,249	$	3,558	$	11,651	$	6,479	$	16,368	$	9,282	$	4,000	$	3,932

	CGS		Grow Warehouse		Grow Depot Maine		Indoor Garden		Down River Hydro		Harvest		Total
Cash	5,976		$	8,100	$	1,738	$	1,165	$	3,177	$	5,561	$	71,813
Common stock	1,272		9,679		411		527		1,174		2,764		36,250
Total	$	7,248	$	17,779	$	2,149	$	1,692	$	4,351	$	8,325	$	108,063

The table below represents the allocation of the purchase price to the acquired net assets during the nine months ended September 30, 2020.

	Emerald City Garden		H2O Hydroponics LLC		Health & Harvest LLC		Total
Inventory	$	150	$	498	$	1,054	$	1,702
Prepaids and other current assets	—		4		—		4
Furniture and equipment	10		50		51		111
Right to use asset	140		906		324		1,370
Lease liability	(140)		(906)		(324)		(1,370)
Customer relationships	212		150		255		617
Trade name	—		234		357		591
Non-compete	14		43		6		63
Goodwill	614		1,008		1,130		2,752
Total	$	1,000	$	1,987	$	2,853	$	5,840

The table below represents the consideration paid for the net assets acquired in business combinations.

	Emerald City Garden		H2O Hydroponics LLC		Health & Harvest LLC		Total
Cash	$	1,000	$	1,282	$	1,750	$	4,032
Common stock	—		705		1,103		1,808
Total	$	1,000	$	1,987	$	2,853	$	5,840

Schedule of revenue and earnings included in consolidated income statement

The following table discloses the date of the acquisitions noted above and the revenue and earnings included in the consolidated income statement for the period ended September 30, 2021.

 

	Agron		Aquarius		Aqua Serene		55 Hydro		Charcoir		San Diego Hydro		Mendocino		Hoagtech
Acquisition date	3/19/2021		3/15/2021		7/19/21		3/15/2021		3/12/2021		2/22/2021		7/19/21		8/23/21
Revenue	$	10,587	$	5,555	$	1,590	$	4,482	$	4,048	$	5,525	$	1,085	$	483
Net Income	$	149	$	1,145	$	331	$	393	$	723	$	839	$	158	$	36

	CGS		Grow Warehouse		Grow Depot Maine		Indoor Garden		Down River Hydro		Harvest		Total
Acquisition date	8/24/21		2/15/2021		2/1/2021		1/25/2021		4/19/2021		5/24/21
Revenue	$	447	$	10,153	$	4,660	$	4,508	$	2,460	$	4,444	$	60,027
Net Income	$	(1)	$	1,812	$	907	$	520	$	277	$	756	$	8,045

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 nine months ended September 30, 2020.

	Emerald City Gardens		H2O Hydroponics LLC		Health & Harvest LLC		Total
Acquisition date	8/10/20		6/26/20		2/26/2020
Revenue	$	472	$	2,769	$	5,887	$	9,128
Earnings	$	74	$	504	$	831	$	1,409

Schedule of proforma consolidated income statement

The following represents the pro forma consolidated income statement as if the acquisitions had been included in the consolidated results of the Company for the entire period for the three and nine months ended September 30, 2021 and 2020.

	Three Months Ended		Nine Months Ended
	September 30, 2021 (Unaudited)		September 30, 2021 (Unaudited)
Revenue	$	146,030	$	361,937
Net income	$	5,299	$	23,276

	Three Months Ended		Nine Months Ended
	September 30, 2020 (Unaudited)		September 30, 2020 (Unaudited)
Revenue	$	121,809	$	222,193
Net income	$	6,412	$	15,681

The following represents the pro forma consolidated income statement as if the acquisitions had been included in the consolidated results of the Company for the entire period for the nine months ended September 30, 2019.

Pro forma consolidated income statement:

	Three Months Ended		Nine Months Ended
	September 30, 2019 (Unaudited)		September 30, 2019 (Unaudited)
Revenue	$	24,651	$	61,176
Earnings	$	1,220	$	2,603