INVENTORIES

12 Months Ended

Dec. 31, 2024

Inventory Disclosure [Abstract]

INVENTORIES

INVENTORIES

Inventories consist of the following:

	December 31,
	2024		2023
Harvested hemp and seeds	$	2,312	$	9,300
Raw materials	11,903		9,726
Finished goods	6,268		6,320
	20,483		25,346
Less: inventory provision	(1,576)		(3,808)
Total	$	18,907	$	21,538

Inventory Provision

For the year ended December 31, 2024, inventory provisions of $4,154 were expensed through cost of goods sold in the consolidated statements of operations. For the year ended December 31, 2024, write-offs of inventory previously reserved of $6,386 were recognized. For the year ended December 31, 2023, inventory provisions of $1,039 were expensed through cost of goods sold and write-offs of inventory previously reserved for of $29,238 were recognized.

Additionally, for the year ended December 31, 2024 and 2023, the Company sold harvested hemp that had a full inventory provision. The sale of hemp resulted in a $4,573 and $12,854 reduction to the inventory provision as of December 31, 2024 and 2023, respectively.