General Cannabis Corp. (CANN) financial statements (2022 and earlier)

Company profile

Business Address 6565 EAST EVANS AVENUE
DENVER, CO 80224
State of Incorp. CO
Fiscal Year End December 31
SIC 5912 - Drug Stores and Proprietary Stores (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments2,0547501227,9575,037774
Cash and cash equivalents2,0547501227,9575,037774
Receivables15367837550446259
Inventory, net of allowances, customer advances and progress billings1,123372   8
Inventory1,123372   8
Prepaid expense14974454744167376
Disposal group, including discontinued operation 647   
Assets held-for-sale, not part of disposal group  375   
Other undisclosed current assets  8553935 
Total current assets:3,4792,5501,5528,9876,1901,118
Noncurrent Assets
Operating lease, right-of-use asset3,0651,836 
Property, plant and equipment6804551,5071,4631,2941,715
Long-term investments and receivables  93  182
Accounts and financing receivable, after allowance for credit loss  93  182
Intangible assets, net (including goodwill)14,7993,469 4212025
Goodwill8,8002,484    
Intangible assets, net (excluding goodwill)6,000984 4212025
Other undisclosed noncurrent assets 209349250 (1,418)
Total noncurrent assets:18,5455,9691,9501,7551,414505
Other undisclosed assets     1,235
TOTAL ASSETS:22,0248,5193,50210,7427,6042,858
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities, including:1,2431,2111,22152699810
Accounts payable6221,195879131192 
Taxes payable  378643 
Interest and dividends payable6211793 12310
Other undisclosed accounts payable and accrued liabilities  212309639 
Deferred revenue 518563
Debt1,094 2,330 1,177 
Deferred compensation liability4459581 322364
Derivative instruments and hedges, liabilities285614,621  23,120
Disposal group, including discontinued operation 55208   
Deferred revenue and credits10746
Other liabilities  149   
Other undisclosed current liabilities1,271690945,6651,494 
Total current liabilities:4,0813,1309,2666,1914,09823,540
Noncurrent Liabilities
Long-term debt and lease obligation2,4281,499   815
Long-term debt, excluding current maturities     815
Operating lease, liability2,4281,499 
Liabilities, other than long-term debt288290    
Due to related parties288290    
Other undisclosed noncurrent liabilities5,6202,599   1,379
Total noncurrent liabilities:8,3364,388   2,194
Total liabilities:12,4177,5189,2666,1914,09825,734
Stockholders' equity
Stockholders' equity attributable to parent9,6081,001(5,764)4,5513,506(22,876)
Preferred stock1,073     
Common stock906139362817
Additional paid in capital92,26575,89161,46856,30338,29226,334
Accumulated deficit(83,821)(74,951)(67,272)(51,788)(34,814)(49,227)
Total stockholders' equity:9,6081,001(5,764)4,5513,506(22,876)
TOTAL LIABILITIES AND EQUITY:22,0248,5193,50210,7427,6042,858

Income statement (P&L) ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues5,9137,1203,6664,6193,5222,982
Revenue, net3,5222,982
Cost of revenue(6,175)(9,487)(2,431)(5,668)(3,345)(6,260)
Cost of goods and services sold(4,439)(5,467)(1,608)(591)(2,786)(5,222)
Gross profit:(263)(2,367)1,236(1,049)178(3,278)
Operating expenses(2,765)(3,699)(10,097)(10,358)(7,225)(3,779)
Other undisclosed operating income14     
Operating loss:(3,013)(6,066)(8,862)(11,407)(7,047)(7,057)
Nonoperating expense
(Other Nonoperating expense)
(5,414)(1,553)(4,947)(5,567)(1,174)(25,743)
Interest and debt expense(233)(1,638)32(326)(313)(9)
Loss from continuing operations before equity method investments, income taxes:(8,661)(9,257)(13,776)(17,300)(8,534)(32,808)
Loss from equity method investments    (580) 
Other undisclosed income from continuing operations before income taxes2331,638    
Loss from continuing operations before income taxes:(8,427)(7,619)(13,776)(17,300)(9,114)(32,808)
Income tax expense     (2)
Loss from continuing operations:(8,427)(7,619)(13,776)(17,300)(9,114)(32,811)
Loss from discontinued operations(442)(61)(1,676)   
Loss before gain (loss) on sale of properties:(8,869)(7,680)(15,452)(17,300)(9,114)(32,811)
Other undisclosed net income (loss)  (32)32689311
Net loss attributable to parent:(8,869)(7,680)(15,484)(16,974)(8,221)(32,800)
Other undisclosed net loss available to common stockholders, basic (830)(2,341)   
Net loss available to common stockholders, diluted:(8,869)(8,510)(17,825)(16,974)(8,221)(32,800)

Comprehensive Income ($ in thousands)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net loss:(8,869)(7,680)(15,484)(16,974)(8,221)(32,800)
Comprehensive loss, net of tax, attributable to parent:(8,869)(7,680)(15,484)(16,974)(8,221)(32,800)

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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