SHARE PURCHASE AND SUBSCRIPTION AGREEMENTS (Tables)

3 Months Ended

Mar. 31, 2022

Reconciliation of changes in redeemable noncontrolling interest

The table below presents the reconciliation of changes in redeemable noncontrolling interest relating to MG SPV as of March 31, 2022 and 2021.


	March 31, 2022		March 31, 2021
Beginning balance	$	6,812,080	$	5,472,841


Net loss attributable to redeemable non-controlling interest	(38,219)		(65,901)

Accretion of non-controlling interest to redemption value	421,399		373,748
Ending balance	$	7,195,260	$	5,780,688

The table below presents the reconciliation of changes in redeemable noncontrolling interest relating to Heartland SPV as of March 31, 2022 and 2021.


	March 31, 2022		March 31, 2021
Beginning balance	$	36,634,604	$	26,138,833


Net income attributable to redeemable non-controlling interest	3,806,753		1,608,303
Accretion of non-controlling interest to redemption value	—		—
Ending balance	$	40,441,357	$	27,747,136

Schedule of variable interest entities

The following table summarizes the carrying amounts of Heartland SPV’s assets and liabilities included in assets held for sale and liabilities held for sale in the Company’s consolidated balance sheets at March 31, 2022 and December 31, 2021:


	March 31, 2022		December 31, 2021
Cash and cash equivalents	$	17,089,714	$	13,322,507
Accounts receivable, net	10,103,011		7,078,559

Inventory	1,369,203		1,654,706
Prepaid expense and other current assets	7,729,233		8,078,890
Total current assets	36,291,161		30,134,662

Fixed assets, net	7,068,164		7,404,375
Finance lease right-of-use assets	391,483		436,039
Operating lease right-of-use assets	110,028		166,362
Intangible assets, net	750,985		813,713
Other assets	106,643		106,643
Total assets	$	44,718,464	$	39,061,794

Accounts payable	$	2,393,475	$	2,051,721
Accrued expenses	1,232,177		1,658,427
Finance lease liability-current	236,890		295,935
Operating lease liability-current	110,028		166,362




Total liabilities	$	3,972,570	$	4,172,445

- Definition

Tabular disclosure of the significant judgments and assumptions made in determining whether a variable interest (as defined) held by the entity requires the variable interest entity (VIE) (as defined) to be consolidated and (or) disclose information about its involvement with the VIE, individually or in aggregate (as applicable); the nature of restrictions, if any, on the consolidated VIE's assets and on the settlement of its liabilities reported by an entity in its statement of financial position, including the carrying amounts of such assets and liabilities; the nature of, and changes in, the risks associated with involvement in the VIE; how involvement with the VIE affects the entity's financial position, financial performance, and cash flows; the lack of recourse if creditors (or beneficial interest holders) of the consolidated VIE have no recourse to the general credit of the primary beneficiary (if applicable); the terms of arrangements, giving consideration to both explicit arrangements and implicit variable interests, if any, that could require the entity to provide financial support to the VIE, including events or circumstances that could expose the entity to a loss; the methodology used by the entity for determining whether or not it is the primary beneficiary of the variable interest entity; the significant factors considered and judgments made in determining that the power to direct the activities of a VIE that most significantly impact the VIE's economic performance are shared (as defined); the carrying amounts and classification of assets and liabilities of the VIE included in the statement of financial position; the entity's maximum exposure to loss, if any, as a result of its involvement with the VIE, including how the maximum exposure is determined and significant sources of the entity's exposure to the VIE; a comparison of the carrying amounts of the assets and liabilities and the entity's maximum exposure to loss; information about any liquidity arrangements, guarantees, and (or) other commitments by third parties that may affect the fair value or risk of the entity's variable interest in the VIE; whether or not the entity has provided financial support or other support (explicitly or implicitly) to the VIE that it was not previously contractually required to provide or whether the entity intends to provide that support, including the type and amount of the support and the primary reasons for providing the support; and supplemental information the entity determines necessary to provide.

+ References + Details