Annual report pursuant to Section 13 and 15(d)

Segment Information (Tables)

v3.23.1
Segment Information (Tables)
12 Months Ended
Dec. 31, 2022
Segment Reporting [Abstract]  
Schedule of segment information

  

    Cannabis and Medical Marijuana Segment    

Facilities

Operations

Related

   

Corporate,

Other, and

Eliminations

    Consolidated  
2022                                
Net sales   $ 37,659     $ 7,670,641     $ (2,585 )    $ 7,705,715  
Operating income (loss)     32,909       (830,098 )     (828,109 )      (1,625,298 )
Interest income     -       5       58,725       58,730  
Interest expense     -        46,321       33,878       80,199  
Total assets     1,000       3,302,931       1,689,961       4,993,892  
Property additions     -       63,089       -       63,089  
Fixed asset depreciation and amortization     -       69,176       2,081       71,257  
                                 
2021                                
Net sales   $ 40,764     $ 5,969,674     $ -     $ 6,010,438  
Operating income (loss)     26,849       95,336       (526,521 )     (404,336 )
Interest income     -       3       70,226       70,229  
Interest expense     -       38,330       24,062       62,392  
Total assets     900,484       2,240,047       1,645,910       4,786,441  
Property additions     -       160,102       1,264       161,366  
Fixed asset depreciation and amortization     -       45,936       5,744       51,710  
Schedule of reconciliation of revenue from segments to consolidated

The following table reconciles operating segments and corporate-unallocated operating income (loss) to consolidated income before income taxes for the years ended December 31, 2022 and 2021, as presented in the consolidated income statements:

  

 

    2022     2021  
Operating loss   $ (1,625,298 )   $ (404,336 )
Employee retention tax credit (WCI)     1,350,161       -  
Realized gain (loss) on investments in securities     (170,418 )     1,017  
Impairment of investments     -       22,718  
Interest income     58,730       70,229  
Interest expense     (80,199 )     (62,392 )
Gain (loss) on equipment disposals     56,455       86  
PPP loan forgiven     -       87,122  
EIDL Grant     -       -  
Other income     58,027       38,870  
Income before income taxes   $

(352,542

)   $ (246,686 )