Summary of Significant Accounting Policies (Tables)

9 Months Ended

Sep. 30, 2022

Summary of Significant Accounting Policies

Schedule of interim unaudited financial statements

Statement of Net Loss and Comprehensive Loss for the nine months ended September 30, 2021 (unaudited)	As Previously Reported		Adjustment		As Revised
Operating expenses:
Stock-based compensation expenses	$	4,557,777	$	(267,957)	$	4,289,820
Total operating expenses		30,134,871		(267,957)		29,866,914
Loss from operations		(12,491,153)		267,957		(12,223,196)
Other income (expense):
Derivative gain (loss)		2,317,065		(2,317,065)		—
Other income (expenses), net		(3,249,254)		(2,317,065)		(5,566,319)
Loss before income taxes		(15,740,407)		(2,049,108)		(17,789,515)
Net income (loss) and comprehensive income (loss)	$	(18,710,407)	$	(2,049,108)	$	(20,759,515)
Statement of Net Loss and Comprehensive Loss for the three months ended September 30, 2021 (unaudited)	As Previously Reported		Adjustment		As Revised
Other income (expense):
Derivative gain (loss)	$	627,165	$	(627,165)	$	—
Other income (expenses), net		(1,552,370)		(627,165)		(2,179,535)
Loss before income taxes		(5,683,231)		(627,165)		(6,310,396)
Net income (loss) and comprehensive income (loss)	$	(6,243,231)	$	(627,165)	$	(6,870,396)
Consolidated Statement of Changes in Stockholders' Equity as of September 30, 2021 (unaudited)	As Previously Reported		Adjustment		As Revised
Shares issued in Nevada acquisition	$	1,564,500	$	(179,261)	$	1,385,239
Stock-based compensation		4,557,777		(267,957)		4,289,820
Warrants issued in financing activities		—		5,395,759		5,395,759
Net Loss		(18,710,407)		(2,049,108)		(20,759,515)
Balance at September 30, 2021	$	50,911,036	$	2,899,433	$	53,810,469
Consolidated Statement of Cash Flows for the nine months ended September 30, 2021 (unaudited)	As Previously Reported		Adjustment		As Revised
CASH FLOWS FROM OPERATING ACTIVITIES
Net loss	$	(18,710,407)	$	(2,049,108)	$	(20,759,515)
Derivative gain		(2,317,065)		2,317,065		—
Share-based payments		4,557,777		(267,957)		4,289,820

Schedule of entities wholly owned, or effectively controlled by Company

Name of entity	Place of  incorporation
Vireo Health, Inc.	Delaware, USA
Vireo Health of New York, LLC	New York, USA
Minnesota Medical Solutions, LLC	Minnesota, USA
MaryMed, LLC	Maryland, USA
Vireo of Charm City, LLC	Maryland, USA
1776 Hemp, LLC	Delaware, USA
Vireo Health of Massachusetts, LLC	Delaware, USA
Mayflower Botanicals, Inc.	Massachusetts, USA
Elephant Head Farm, LLC	Arizona, USA
EHF Cultivation Management, LLC	Arizona, USA
Retail Management Associates, LLC	Arizona, USA
Arizona Natural Remedies, Inc.	Arizona, USA
Vireo Health of New Mexico, LLC	Delaware, USA
Red Barn Growers, Inc.	New Mexico, USA
Resurgent Biosciences, Inc.	Delaware, USA
Vireo Health of Puerto Rico, LLC	Delaware, USA
Vireo Health de Puerto Rico, Inc.	Puerto Rico
XAAS Agro, Inc.	Puerto Rico
Vireo Health of Nevada 1, LLC	Nevada, USA
Verdant Grove, Inc.	Massachusetts, USA

Schedule of anti-dilutive shares outstanding

	September 30,
	2022	2021
Stock options	26,121,908	23,610,886
Warrants	3,037,649	4,395,949
RSUs	1,094,200	—
Total	30,253,757	28,006,835

Schedule of disaggregated revenue

	Nine Months Ended September 30,				Three Months Ended September 30,
	2022		2021		2022		2021
Retail	$	45,842,941	$	33,247,058	$	16,389,226	$	11,562,440
Wholesale		9,739,880		7,543,163		2,464,875		1,806,992
Total	$	55,582,821	$	40,790,221	$	18,854,101	$	13,369,432