Segment Information

12 Months Ended

Dec. 31, 2020

Segment Reporting [Abstract]

Segment Information

22. SEGMENT INFORMATION

Reportable Segments

The Company generates revenue from two reportable segments:  

• THC Cannabis – Production and cultivation of THC cannabis, manufacturing and distribution of cannabis products to own dispensaries and third party retail customers, ancillary services supporting wholesale operations, and retail sales direct to end consumers

• CBD Wellness – Pure Ratios which encompasses the production and sale of CBD products to third-party customers

The results of each segment are regularly reviewed by the Company’s Chief Executive Officer, who is the Company’s chief operating decision maker, to assess the performance of the segment and make decisions regarding the allocation of resources. The Company’s chief operating decision maker uses revenue and adjusted EBITDA as measure of segment performance. The accounting policies of each segment are the same as those set out under the summary of significant accounting policies in Note 2. There are no intersegment sales or transfers. All revenues are derived from customers domiciled in the United States and all assets are located in the United States.

The below table presents revenues by type for the years ended December 31, 2020 and 2019:

	2020		2019
Net Revenues
THC Cannabis	$	50,041	$	17,825
CBD Wellness		7,594		1,207
Corporate		—		—
Total Net Revenues	$	57,635	$	19,032
Depreciation and Amortization
THC Cannabis	$	3,982	$	1,314
CBD Wellness		79		31
Corporate		—		1,818
Total Depreciation and amortization	$	4,061	$	3,163
Assets
THC Cannabis	$	186,899	$	155,653
CBD Wellness		2,198		18,020
Corporate		15,659		29,028
Total Assets	$	204,756	$	202,701

Goodwill assigned to the THC Cannabis segment as of December 31, 2020 and December 31, 2019 was $21,749 and $26,883, respectively. Intangible assets, net assigned to the THC Cannabis segment as of December 31, 2020 and December 31, 2019 was $28,790 and $31,422, respectively.

Goodwill assigned to the CBD Wellness segment as of December 31, 2020 and December 31, 2019 was $nil and $13,400, respectively. Intangible assets, net assigned to the CBD segment as of December 31, 2020 and December 31, 2019 was $nil and $3,725, respectively.