Equity Method Investment	12 Months Ended
Dec. 31, 2024
Equity Method Investment
Equity Method Investment	7. Equity Method Investment. Araucanía Flowers SA (“Araucania”) is based in Chile and serves as a marketing arm for the Company to export its crops to Latin-America countries. Araucanía has two other shareholders that hold 70% of its aggregate issued and outstanding shares. At December 31, 2024, the Company had a 30% equity interest in Araucania with a carrying amount of approximately $191,000. For the year ended December 31, 2024, the equity in net income of Araucania was approximately $37,000. As of December 31, 2024, the Company had a note receivable from Araucanía with a balance of $116,000 which is included in long-term receivable in the accompanying consolidated balance sheet. Bloomia had a 50% ownership interest in Horti-Group USA LLC (“Horti-Group”). Horti-Group operates a 45-acre facility near Washington D.C. that Bloomia utilizes to grow and distribute its tulips to North American customers. On February 9, 2023, Bloomia sold its interest in Horti-Group to V-Maxx for a sale price of $2,500,000. The sale price was seller-financed via the issuance of an interest-free loan from Fresh Tulips to V-Maxx with an original principal amount $2,500,000. The loan to V-Maxx was to be repaid in 17 monthly installments of $150,000 for the first 16 months and $100,000 for the last month, with the first payment on April 1, 2023, and the last payment on August 1, 2024. The Company did not receive cash from V-Maxx, instead the $150,000 per month was applied to the rent owed to Horti-Group and is reflected in Noncash operating lease expense as an add back to net loss in the consolidated statement of cash flows. At December 31, 2024, the balance of the loan was zero.

Equity Method Investment

12 Months Ended

Dec. 31, 2024

7. Equity Method Investment.

Araucanía Flowers SA (“Araucania”) is based in Chile and serves as a marketing arm for the Company to export its crops to Latin-America countries. Araucanía has two other shareholders that hold 70% of its aggregate issued and outstanding shares. At December 31, 2024, the Company had a 30% equity interest in Araucania with a carrying amount of approximately $191,000. For the year ended December 31, 2024, the equity in net income of Araucania was approximately $37,000. As of December 31, 2024, the Company had a note receivable from Araucanía with a balance of $116,000 which is included in long-term receivable in the accompanying consolidated balance sheet.

Bloomia had a 50% ownership interest in Horti-Group USA LLC (“Horti-Group”). Horti-Group operates a 45-acre facility near Washington D.C. that Bloomia utilizes to grow and distribute its tulips to North American customers. On February 9, 2023, Bloomia sold its interest in Horti-Group to V-Maxx for a sale price of $2,500,000. The sale price was seller-financed via the issuance of an interest-free loan from Fresh Tulips to V-Maxx with an original principal amount $2,500,000. The loan to V-Maxx was to be repaid in 17 monthly installments of $150,000 for the first 16 months and $100,000 for the last month, with the first payment on April 1, 2023, and the last payment on August 1, 2024. The Company did not receive cash from V-Maxx, instead the $150,000 per month was applied to the rent owed to Horti-Group and is reflected in Noncash operating lease expense as an add back to net loss in the consolidated statement of cash flows. At December 31, 2024, the balance of the loan was zero.