CULTIVATION LIABILITIES

12 Months Ended

Dec. 31, 2021

Cultivation Liabilities [Abstract]

CULTIVATION LIABILITIES

CULTIVATION LIABILITIES

In conjunction with the contract terms, the company can reduce the settlement amount for harvested hemp outside of quality specifications. For the years ended December 31, 2021 and 2020, the Company recognized $855 and $2,073, respectively, of settlement reductions.

Future payments due under contract obligations are as follows:

	Short-term		Long-term		Total
December 31, 2019	$	10,803	$	14,289	$	25,092
Payments	(11,289)		—		(11,289)
Settlement reductions	(2,073)		—		(2,073)
Interest	87		—		87
Conversion to short-term borrowings	11,776		(11,776)		—
December 31, 2020	$	9,304	$	2,513	$	11,817

	Short-term		Long-term		Total
December 31, 2020	$	9,304	$	2,513	$	11,817
Payments	(7,166)		—		(7,166)
Settlement reductions	(855)		—		(855)
Interest	37		—		37
Conversion to short-term borrowings	2,128		(2,128)		—
December 31, 2021	$	3,448	$	385	$	3,833

Scheduled maturities of amounts owed as of December 31, 2021 are as follows:

Year Ending December 31:
2022	$	3,461
2023	385
Total payments	$	3,846
Less: Imputed interest	(13)
Total cultivation liabilities	$	3,833
Less: Current portion of cultivation liabilities	(3,448)
Total non-current cultivation liabilities	$	385