Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

14. SEGMENT INFORMATION

Operating segments are components of the Company that combine similar business activities, with activities grouped to facilitate the evaluation of business units and allocation of resources by the Company’s board and management. As of September 30, 2021, the Company had 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

All revenues are derived from customers domiciled in the United States and all assets are located in the United States.

	September 30, 2021		September 30, 2020
Net Revenues
THC Cannabis	$	74,073	$	34,556
CBD Wellness		1,959		6,090
Corporate		—		—
Total Net Revenues	$	76,032	$	40,646
Depreciation and Amortization
THC Cannabis	$	2,444	$	2,343
CBD Wellness		16		325
Corporate		6		—
Total Depreciation and Amortization	$	2,466	$	2,668
	September 30, 2021		December 31, 2020
Assets
THC Cannabis	$	206,131	$	186,899
CBD Wellness		1,399		2,198
Corporate		4,582		15,659
Total Assets	$	212,112	$	204,756

Goodwill assigned to the THC Cannabis segment as of September 30, 2021 and December 31, 2020 was $23,155. Intangible assets, net assigned to the THC Cannabis segment as of September 30, 2021 and December 31, 2020 was $26,883 and $28,790, respectively.

Goodwill and Intangible Assets assigned to the CBD Wellness segment as of September 30, 2021 and December 31, 2020 were $nil.