INTANGIBLE ASSETS AND GOODWILL

9 Months Ended

Sep. 30, 2024

Goodwill and Intangible Assets Disclosure [Abstract]

Intangible Assets

Intangible assets and related amortization are summarized in the table below:


	Licenses		Know-How		Total


Gross Carrying Amount, September 30, 2024 and December 31, 2023	$	25,661	$	9,700	$	35,361

Accumulated Amortization, December 31, 2023	$	—	$	(8,568)	$	(8,568)
Amortization expense	—		(1,124)		(1,124)

Accumulated Amortization, September 30, 2024	$	—	$	(9,692)	$	(9,692)
Intangible Assets, Net at December 31, 2023	$	25,661	$	1,132	$	26,793
Intangible Assets, Net at September 30, 2024	$	25,661	$	8	$	25,669

During fiscal year 2023, the Company entered into agreements to acquire dispensary licenses from Euphoria, LLC and Westside Visionaries. Refer to Note 5 for further details on the transaction.

Goodwill





Balance, December 31, 2023 and September 30, 2024	$	41,807

Impairment of Intangible Assets and Goodwill

Goodwill as of September 30, 2024 and December 31, 2023 is related to the Massachusetts segment in which there is no accumulated impairment within this segment.

Goodwill and infinite lived assets are assessed on an annual basis for impairment, or more frequently, if circumstances indicate an impairment to the carrying value may have occurred. As of September 30, 2024, the Company believes the carrying amounts of the long-lived assets, including finite-lived intangible assets (licenses), are recoverable and there were no events or circumstances that indicated impairment. However, if adverse events were to occur or circumstances were to change indicating the carrying amount of such assets may not be fully recoverable, the assets would be reviewed for impairment.

Refer to Note 17 for discussion of intangible assets and goodwill related to the Company's operations in California classified as discontinued operations.