Summary of Significant Accounting Policies (Tables)
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12 Months Ended |
Dec. 31, 2021 |
Supplemental Cash Flow Elements [Abstract] |
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Summary of Subsidiaries |
The Company’s subsidiaries and its interests in each are presented below as of December 31, 2021:
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MPX Bioceutical ULC (“MPX ULC”) (1)
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Canada |
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100 |
% |
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Luxembourg |
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100 |
% |
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Arizona, USA |
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100 |
% |
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Arizona, USA |
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100 |
% |
Health For Life, Inc. (1)
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Arizona, USA |
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100 |
% |
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Arizona, USA |
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100 |
% |
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Arizona, USA |
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100 |
% |
S8 Rental Services, LLC (1)
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Arizona, USA |
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100 |
% |
Soothing Options, Inc. (1)
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Arizona, USA |
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100 |
% |
The Healing Center Wellness Center, Inc. (“THCWC”) (1)
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Arizona, USA |
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100 |
% |
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Colorado, USA |
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100 |
% |
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Colorado, USA |
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100 |
% |
iAnthus Capital Management, LLC (“ICM”) |
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Delaware, USA |
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100 |
% |
GHHIA Management, Inc. (“GHHIA”) |
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Florida, USA |
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100 |
% |
GrowHealthy Properties, LLC (“GHP”) |
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Florida, USA |
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100 |
% |
iAnthus Holdings Florida, LLC (“IHF”) |
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Florida, USA |
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100 |
% |
McCrory’s Sunny Hill Nursery, LLC (“McCrory’s”) |
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Florida, USA |
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100 |
% |
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Illinois, USA |
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100 |
% |
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Maryland, USA |
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100 |
% |
GreenMart of Maryland, LLC (1)
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Maryland, USA |
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100 |
% |
LMS Wellness, Benefit, LLC (1)
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Maryland, USA |
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100 |
% |
Rosebud Organics, Inc. (1)
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Maryland, USA |
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100 |
% |
Cannatech Medicinals, Inc. (1)
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Massachusetts, USA |
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100 |
% |
Fall River Development Company, LLC (1)
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Massachusetts, USA |
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100 |
% |
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Massachusetts, USA |
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100 |
% |
Mayflower Medicinals, Inc. |
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Massachusetts, USA |
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100 |
% |
Pilgrim Rock Management, LLC |
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Massachusetts, USA |
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100 |
% |
CGX Life Sciences, Inc. (“CGX”) (1)
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Nevada, USA |
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100 |
% |
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GreenMart of Nevada NLV, LLC (GMNV) (1)
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Nevada, USA |
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100 |
% |
iAnthus Northern Nevada, LLC |
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Nevada, USA |
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100 |
% |
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New Jersey, USA |
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100 |
% |
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New Jersey, USA |
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100 |
% |
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New Jersey, USA |
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100 |
% |
Citiva Medical, LLC (“Citiva”) |
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New York, USA |
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100 |
% |
iAnthus Empire Holdings, LLC |
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New York, USA |
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100 |
% |
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Vermont, USA |
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100 |
% |
Grassroots Vermont Management Services, LLC |
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Vermont, USA |
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100 |
% |
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Vermont, USA |
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100 |
% |
(1) |
Entities acquired as a part of the MPX Bioceutical Corporation (“MPX”) acquisition on February 5, 2019 (the “MPX Acquisition”). During the year ended December 31, 2020, the Company dissolved CinG-X Corporation of America. |
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Summary of Cash And Cash Equivalents Restricted Cash And Restricted Cash Equivalents |
The following table summarizes a reconciliation of cash and restricted cash reported within the consolidated balance sheets to such amounts presented in the statements of cash flows:
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$ |
13,244 |
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$ |
11,015 |
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3,334 |
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495 |
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Total cash and restricted cash presented in the statements of cash flows |
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Summary of Property Plant And Equipment Useful Life |
Property, plant and equipment are recorded at historical cost net of accumulated depreciation, write-downs and impairment losses. Depreciation is calculated on a straight-line basis over the estimated useful life as follows:
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over the shorter of the initial term of the underlying lease plus any reasonably assured renewal terms, and the useful life of the asset |
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Office equipment |
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— |
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3 - 5 years |
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Land |
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— |
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not depreciated |
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Summary of Effects Of Reclassification Adjustment On The Line Items Of Consolidated Statements Of Operations |
The following table summarizes the effects of reclassification adjustment on the line items within the Company’s consolidated statements of operations:
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Selling, general and administrative expenses |
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$ |
10,658 |
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Depreciation and amortization |
Amortization of intangibles |
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15,531 |
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Depreciation and amortization |
Other losses |
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169 |
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Other income |
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Summary of Effects Of Reclassification Adjustment On The Line Items Of Consolidated Statements Of Cashflows |
The following table summarizes the effects of reclassification adjustment on the line items within the Company’s consolidated statements of cash flows:
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Change in operating assets and liabilities |
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$ |
3,246 |
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Net cash used in investing activities |
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Summary of Effects Of the Adjustment On The Line items Within Consolidated Financial Statements |
The following table summarizes the effects of the adjustment on the line items within the Company’s consolidated balance sheet as of December 31, 2020:
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$ |
30,292 |
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$ |
(4,841 |
) |
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$ |
25,451 |
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50,464 |
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(4,841 |
) |
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45,623 |
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357,974 |
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(4,841 |
) |
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353,133 |
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Accrued and other current liabilities |
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56,381 |
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(1,328 |
) |
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55,053 |
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233,207 |
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(1,328 |
) |
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231,879 |
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307,132 |
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(1,328 |
) |
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305,804 |
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(720,629 |
) |
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(3,513 |
) |
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(724,142 |
) |
Total shareholders’ equity |
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50,842 |
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(3,513 |
) |
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47,329 |
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Total liabilities and shareholders’ equity |
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357,974 |
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(4,841 |
) |
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353,133 |
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The effect of the adjustments on the line items on the Company’s consolidated statement of operations for the year ended December 31, 2020 was as follows:
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Year Ended December 31, 2020 |
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Costs and expenses applicable to revenues |
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$ |
(64,988 |
) |
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$ |
(4,841 |
) |
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$ |
(69,829 |
) |
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86,681 |
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(4,841 |
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81,840 |
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(245,050 |
) |
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(4,841 |
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(249,891 |
) |
Loss from operations before income tax |
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(290,070 |
) |
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(4,841 |
) |
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(294,911 |
) |
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19,961 |
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(1,328 |
) |
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18,633 |
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(309,849 |
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(3,513 |
) |
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(313,362 |
) |
effect of the adjustments on the line items on the Company’s consolidated statement of cash flow for the year ended December 31, 2020 was as follows:
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$ |
(309,849 |
) |
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$ |
(3,513 |
) |
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$ |
(313,362 |
) |
Change in operating assets and liabilities
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9,024 |
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3,513 |
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12,537 |
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Summary of Effect Of The Adjsutment On The Line Items Within Inventories |
The effect of the adjustment on the line items within the Company’s inventories as of December 31, 2020 was as follows:
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$ |
8,457 |
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$ |
(3,447 |
) |
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$ |
5,010 |
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8,857 |
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(1,810 |
) |
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7,047 |
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5,737 |
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(27 |
) |
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5,710 |
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7,241 |
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|
443 |
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7,684 |
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