XML 20 R10.htm IDEA: XBRL DOCUMENT v3.25.0.1
RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2024
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS RELATED PARTY TRANSACTIONS
A director of the Company is an owner of Cloud 9 Support, LLC (“Cloud 9”) and Potco LLC (“Potco”). Cloud 9 purchases materials from the Company for use with its customers and Potco purchases equipment from the Company for use in its cultivation facility. Another director of the Company is working on a vertical farming innovation model with a group of CEA experts (the “CEA Consortium”). The CEA Consortium contracts services from the Company related to their business model. The table below presents the revenues for these related party entities for the three and six months ended June 30, 2024, and 2023:
Three Months Ended June 30, 2024Six Months Ended June 30, 2024
2024202320242023
Revenue - Cloud 9$— $462 $— $462 
Revenue - Potco3,266 398,712 3,266 935,164 
Revenue - CEA Consortium$— $— $— $— 
Total revenues from related party transactions$3,266 $399,174 $3,266 $935,626 

The table below presents the accounts receivable from these related party entities as of June 30, 2024, and December 31, 2023:
June 30, 2024December 31, 2023
Accounts receivable - Cloud 9$— $— 
Accounts receivable - Potco159,822 163,088 
Accounts receivable - CEA Consortium$245,000 $245,000 
Total accounts receivable due from related party transactions$404,822 $408,088