XML 10 R3.htm IDEA: XBRL DOCUMENT v3.22.2.2
Interim Condensed Consolidated Statements of Loss on Comprehensive Loss - USD ($)
shares in Thousands
6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Interim Condensed Consolidated Statements of Loss on Comprehensive Loss    
Revenue (Note 21) $ 14,917,000 $ 2,118,000
Cost of sales 8,415,000 1,106,000
Gross profit before fair value adjustments 6,502,000 1,012,000
Unrealized gain on changes in fair value of biological assets (Note 4) 46,000 0
Realized fair value amounts included in inventory sold (Note 4) (2,000) 0
Gross Profit 6,546,000 1,012,000
Operating Expenses    
Consulting and management fees 5,243,000 2,262,000
Professional fees 2,096,000 766,000
General and administrative 2,429,000 1,481,000
Promotion and communication 4,719,000 1,180,000
Travel expenses 601,000 143,000
Share based compensation (Note 13) 2,855,000 95,000
Research and development 422,000 85,000
Depreciation and amortization (Notes 6 and 9) 1,712,000 119,000
Bad debt expense (Note 3) 405,000 100,000
Goodwill impairment (Notes 9 and 10) 16,000,000 0
Other expenses (income), net 1,178,000 (67,000)
Total operating expenses 37,660,000 6,164,000
Operating Loss (31,114,000) (5,152,000)
Interest expense 69,000 64,000
Foreign exchange loss (gain) 200,000 (78,000)
Unrealized loss on fair value of investments (Note 7) 1,333,000 0
Net loss before income taxes (32,716,000) (5,138,000)
Income tax benefit (Note 16) 0 0
Net loss for the period (32,716,000) (5,138,000)
Other comprehensive loss    
Exchange differences on foreign operations 567,000 200,000
Total comprehensive loss for the period (33,283,000) (5,338,000)
Net loss attributable to:    
Flora Growth Corp. (32,611,000) (5,097,000)
Non-controlling interests (105,000) (41,000)
Comprehensive loss attributable to: Flora Growth Corp. (33,178,000) (5,297,000)
Comprehensive loss attributable to: Non-controlling interests $ (105,000) $ (41,000)
Basic and diluted loss per share attributable to Flora Growth Corp. $ (0.42) $ (0.13)
Weighted average number of common shares outstanding - basic and diluted (Note 17) 76,944 39,604