|12 Months Ended|
Dec. 31, 2021
|Goodwill and Intangible Assets Disclosure [Abstract]|
As a result of declining performance of the Company’s CBD business during the year
In December 2018, GMNV, a wholly owned subsidiary was awarded four conditionalNevada Cannabis Compliance Board (“CCB”). The CCB award of the conditional
adult-usedispensary licenses (“Marijuana Retail Store Licenses”) by the Nevada Department of Taxation which was later replaced by the
adult-useMarijuana Retail Store Licenses was challenged by several unsuccessful applicants in an action in Nevada state court. On July 29, 2020, the CCB and certain plaintiffs and intervenors, including GMNV, executed a partial settlement requiring GMNV to transfer one of the Marijuana Retail Store Licenses (the “Conditional License”) to a settling plaintiff. The Company determined that the carrying value of the Conditional License was not recoverable and exceeded its fair value. As a result, an impairment loss of $4.1 million, the total carrying amount of the Conditional License, was recorded to intangible assets in the Western Region for the year ended December 31, 2020.
During the year
internal-usesoftware. The weighted average remaining amortization period for these additions is 3 years as of December 31, 2021.
Amortization expense for the year ended December 31, 2021 and 2020 was $15.4 million and $15.5 million, respectively.
The estimated amortization expense for each of the years ended December 31, as follows:
No definition available.
The entire disclosure for all or part of the information related to intangible assets.
Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef