MedMen Enterprises (MMNFQ) 10-Q 16 Feb 21 2021 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Dec. 26, 2020	Feb. 15, 2021
Cover [Abstract]
Entity Registrant Name	MedMen Enterprises, Inc.
Entity Central Index Key	0001776932
Document Type	10-Q
Amendment Flag	false
Current Fiscal Year End Date	--06-30
Entity Small Business	true
Entity Shell Company	false
Entity Emerging Growth Company	true
Entity Current Reporting Status	Yes
Document Period End Date	Dec. 26, 2020
Entity Filer Category	Non-accelerated Filer
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Entity Ex Transition Period	false
Entity Common Stock Shares Outstanding		519,098,036
Document Quarterly Report	true
Document Transition Report	false
Entity Interactive Data Current	Yes

Unaudited Interim Condensed Con

Unaudited Interim Condensed Consolidated Balance Sheets - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Current Assets:
Cash and Cash Equivalents	$ 7,549,841	$ 10,093,925
Restricted Cash	6,010	9,873
Accounts Receivable and Prepaid Expenses	5,927,363	5,626,761
Inventory	25,495,872	22,638,120
Current Assets Held for Sale	20,499,209	33,459,879
Other Current Assets	5,733,682	9,105,457
Due from Related Party	3,109,717	3,109,717
Total Current Assets	68,321,694	84,043,732
Operating Lease Right-of-Use Assets	98,236,694	116,354,828
Property and Equipment, Net	152,427,173	174,547,867
Intangible Assets, Net	133,580,466	148,081,030
Goodwill	33,861,150	33,861,150
Other Assets	17,137,917	17,374,997
TOTAL ASSETS	503,565,094	574,263,604
Current Liabilities:
Accounts Payable and Accrued Liabilities	80,635,429	79,530,930
Income Taxes Payable	86,342,631	38,599,349
Other Current Liabilities	13,462,163	20,278,381
Current Portion of Operating Lease Liabilities	5,882,032	9,757,669
Current Portion of Finance Lease Liabilities	617,592	1,644,044
Current Portion of Notes Payable	16,761,052	16,188,668
Current Liabilities Held for Sale	12,367,699	18,659,038
Due to Related Party	4,374,727	4,556,814
Total Current Liabilities	220,443,325	189,214,893
Operating Lease Liabilities, Net of Current Portion	116,211,645	131,045,238
Finance Lease Liabilities, Net of Current Portion	27,630,404	58,569,498
Other Non-Current Liabilities	3,932,218	4,215,533
Deferred Tax Liabilities	44,910,274	48,928,492
Senior Secured Convertible Credit Facility	159,592,165	166,368,463
Notes Payable, Net of Current Portion	177,752,061	152,809,937
TOTAL LIABILITIES	750,472,092	751,152,054
SHAREHOLDERS' EQUITY:
Preferred Shares (no par value, unlimited shares authorized and no shares issued and outstanding)	0	0
Subordinate Voting Shares (no par value, unlimited shares authorized, 512,315,834 and 403,907,218 shares issued and outstanding as of December 26, 2020 and June 27, 2020, respectively)	0	0
Additional Paid-In Capital	840,119,302	791,172,613
Accumulated Deficit	(674,420,245)	(631,365,866)
Total Equity Attributable to Shareholders of MedMen Enterprises Inc.	165,699,057	159,889,247
Non-Controlling Interest	(412,606,055)	(336,777,697)
TOTAL MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY	(246,906,998)	(176,888,450)
TOTAL LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY	503,565,094	574,263,604
Super Voting [Member]
SHAREHOLDERS' EQUITY:
TOTAL MEZZANINE EQUITY AND SHAREHOLDERS' EQUITY	0
Super Voting Shares (no par value, unlimited shares authorized, nil and 815,295 shares issued and outstanding as of December 26, 2020 and June 27, 2020, respectively)	$ 0	$ 82,500

Unaudited Interim Condensed C_2

Unaudited Interim Condensed Consolidated Balance Sheets (Parenthetical) - shares	Dec. 26, 2020	Jun. 27, 2020
Subordinate Voting Shares [Member]
Stockholders' deficit
Preferred stock, shares issued	512,315,834	403,907,218
Preferred stock, shares outstanding	512,315,834	403,907,218
Super Voting Shares [Member]
Stockholders' deficit
Preferred stock, shares issued	815,295	815,295
Preferred stock, shares outstanding	815,295	815,295

Unaudited Interim Condensed C_3

Unaudited Interim Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Unaudited Interim Condensed Consolidated Statements of Operations
Revenue	$ 33,775,662	$ 44,065,882	$ 69,401,630	$ 83,735,878
Cost of Goods Sold	15,832,057	31,238,909	34,633,967	51,516,729
Gross Profit	17,943,605	12,826,973	34,767,663	32,219,149
Expenses:
General and Administrative	33,568,436	60,318,947	65,252,040	114,413,896
Sales and Marketing	217,254	3,609,997	410,639	9,392,777
Depreciation and Amortization	9,705,254	6,643,252	18,330,962	16,127,433
Realized and Unrealized Loss on Changes in Fair Value of Contingent Consideration	87,893	5,215,271	390,727	7,499,325
Impairment Expense	0	0	789,709	0
Other Operating Expense (Income)	775,896	5,705,408	(15,921,965)	5,007,446
Total Expenses	44,354,733	81,492,875	69,252,112	152,440,877
Loss from Operations	(26,411,128)	(68,665,902)	(34,484,449)	(120,221,728)
Other Expense (Income):
Interest Expense	10,237,737	8,095,033	21,380,601	16,258,650
Interest Income	(539,855)	(265,378)	(541,065)	(634,720)
Amortization of Debt Discount and Loan Origination Fees	6,900,770	1,831,425	10,103,664	4,898,960
Change in Fair Value of Derivatives	177,879	(2,901,284)	(127,500)	(8,029,704)
Realized and Unrealized Loss (Gain) on Investments and Assets Held for Sale	1,960,871	(5,034,158)	(10,454,608)	(16,514,480)
Loss on Extinguishment of Debt	943,706	660,119	11,073,361	32,230,235
Total Other Expense	19,681,108	2,385,757	31,434,453	28,208,941
Loss from Continuing Operations Before Provision for Income Taxes	(46,092,236)	(71,051,659)	(65,918,902)	(148,430,669)
Provision for Income Tax (Expense) Benefit	(23,970,469)	14,649,487	(34,309,031)	32,310,218
Net Loss from Continuing Operations	(70,062,705)	(56,402,172)	(100,227,933)	(116,120,451)
Net Loss from Discontinued Operations, Net of Taxes	1,201,766	(36,845,653)	(1,480,409)	(39,926,048)
Net Loss	(68,860,939)	(93,247,825)	(101,708,342)	(156,046,499)
Net Loss Attributable to Non-Controlling Interest	(19,165,455)	(51,997,293)	(30,092,996)	(90,573,223)
Net Loss Attributable to Shareholders of MedMen Enterprises Inc.	$ (49,695,484)	$ (41,250,532)	$ (71,615,346)	$ (65,473,276)
Loss Per Share - Basic and Diluted:
From Continuing Operations Attributable to Shareholders of MedMen Enterprises Inc.	$ (0.11)	$ (0.02)	$ (0.17)	$ (0.13)
From Discontinued Operations Attributable to Shareholders of MedMen Enterprises Inc.	$ 0	$ (0.17)	$ 0	$ (0.20)
Weighted-Average Shares Outstanding - Basic and Diluted	482,903,106	220,467,070	452,806,117	196,211,921

Unaudited Interim Condensed C_4

Unaudited Interim Condensed Consolidated Statements of Changes in Shareholders Equity - USD ($)	Total	Super Voting [Member]	Subordinate Voting [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	TOTAL EQUITY ATTRIBUTABLE TO SHAREHOLDERS OF MEDMEN [Member]	Noncontrolling Interest
Balance, shares at Jun. 29, 2019		1,630,590	173,010,922
Balance, amount at Jun. 29, 2019	$ 211,270,775	$ 164,999	$ 0	$ 613,356,006	$ (370,382,824)	$ 243,138,181	$ (31,867,406)
Net Loss	(156,046,499)	$ 0	$ 0	0	(65,473,276)	(65,473,276)	(90,573,223)
At-the-Market Equity Financing Program, Net, shares			9,789,300
At-the-Market Equity Financing Program, Net, amount	12,399,249	$ 0	$ 0	$ 12,399,249	0	12,399,249	0
Shares Issued for Cash, shares			38,355,076
Shares Issued for Cash, amount	40,200,000	$ 0	$ 0	$ 40,200,000	0	40,200,000	0
Shares Issued to Settle Debt, shares			1,231,280
Shares Issued to Settle Debt, amount	2,441,912	$ 0	$ 0	2,441,912	0	2,441,912	0
Shares Issued to Settle Contingent Consideration, shares			10,691,455
Shares Issued to Settle Contingent Consideration, amount	10,811,219	$ 0	$ 0	10,811,219	0	10,811,219	0
Asset Acquisitions, shares			7,373,034
Asset Acquisitions, amount	4,904,381	$ 0	$ 0	4,904,381	0	4,904,381	0
Equity Component of Debt - New and Amended	2,517,014	$ 0	$ 0	2,517,014	0	2,517,014	0
Redemption of MedMen Corp Redeemable Shares, shares			6,225,620
Redemption of MedMen Corp Redeemable Shares, amount	0	$ 0	$ 0	23,362,740	(24,037,868)	(675,128)	675,128
Shares Issued for Vested Restricted Stock Units, shares			67,038
Shares Issued for Vested Restricted Stock Units, amount		$ 0	$ 0	$ 0	0	0	0
Shares Issued for Other Assets, shares			3,107,315
Shares Issued for Other Assets, amount	2,397,659	$ 0	$ 0	$ 2,397,659	0	2,397,659	0
Shares Issued for Acquisition Costs, shares			214,716
Shares Issued for Acquisition Costs, amount	421,497	$ 0	$ 0	$ 421,497	0	421,497	0
Shares Issued for Business Acquisition, shares			5,112,263
Shares Issued for Business Acquisition, amount	9,833,000	$ 0	$ 0	$ 9,833,000	0	9,833,000	0
Stock Grants for Compensation, shares			1,889,646
Stock Grants for Compensation, amount	2,734,119	$ 0	$ 0	2,698,902	0	2,698,902	35,217
Share-Based Compensation	5,465,147	0	0	5,465,147	0	5,465,147	0
Deferred Tax Impact On Conversion Feature	(260)	0		0	(260)	(260)	0
Non-Controlling Interest Equity Transactions: Distributions	(310,633)	0	0	0	0	0	(310,633)
Non-Controlling Interest Equity Transactions: Equity Component of Debt - New and Amended	(1,444,676)	0	0	0	0	0	(1,444,676)
Non-Controlling Interest Equity Transactions: Share-Based Compensation	1,313,059	$ 0	$ 0	0	0	0	1,313,059
Balance, shares at Dec. 28, 2019		1,630,590	257,067,665
Balance, amount at Dec. 28, 2019	148,906,963	$ 164,999	$ 0	730,808,726	(459,894,228)	271,079,497	(122,172,534)
Balance, shares at Jun. 28, 2020		815,295	403,907,218
Balance, amount at Jun. 28, 2020	(176,888,450)	$ 82,500	$ 0	791,172,613	(631,365,866)	159,889,247	(336,777,697)
Net Loss	(101,708,342)	0	0	0	(71,615,346)	(71,615,346)	(30,092,996)
Equity Component of Debt - New and Amended	33,589,921	$ 0	$ 0	33,589,921	0	33,589,921	0
Redemption of MedMen Corp Redeemable Shares, shares			88,945,434
Redemption of MedMen Corp Redeemable Shares, amount		$ 0	$ 0	13,655,293	34,925,150	48,580,443	(48,580,443)
Shares Issued for Vested Restricted Stock Units, shares			7,173,256
Shares Issued for Vested Restricted Stock Units, amount	437,386	$ 0	$ 0	437,386	0	437,386	0
Shares Issued for Acquisition Costs, shares			2,082,890
Shares Issued for Acquisition Costs, amount	318,095	$ 0	$ 0	318,095	0	318,095	0
Stock Grants for Compensation, shares			3,001,282
Stock Grants for Compensation, amount	817,252	$ 0	$ 0	817,252	0	817,252	0
Share-Based Compensation	2,546,220	0	0	2,546,220	0	2,546,220	0
Deferred Tax Impact On Conversion Feature	(11,233,284)	0	$ 0	(10,023,232)	0	(10,023,232)	(1,210,052)
Cancellation of Super Voting Shares, amount		$ (82,500)		82,500
Cancellation of Super Voting Shares, shares		(815,295)
Shares Issued to Settle Accounts Payable and Liabilities, shares			7,205,754
Shares Issued to Settle Accounts Payable and Liabilities, amount	1,159,071	$ 0	$ 0	1,159,071		1,159,071
Deemed Dividend - Down Round Feature of Warrants	0	0	0	6,364,183	(6,364,183)	0	0
Non-Controlling Interest Equity Transactions: Equity Component on Debt and Debt Modification	4,055,133	$ 0	$ 0	0	0	0	4,055,133
Balance, shares at Dec. 26, 2020			512,315,834
Balance, amount at Dec. 26, 2020	$ (246,906,998)	$ 0	$ 0	$ 840,119,302	$ (674,420,245)	$ 165,699,057	$ (412,606,055)

Unaudited Interim Condensed C_5

Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($)	6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net Loss from Continuing Operations	$ (100,227,933)	$ (116,120,451)
Adjustments to Reconcile Net Loss to Net Cash Used in Operating Activities:
Deferred Tax (Recovery) Expense	(13,457,855)	(44,914,110)
Depreciation and Amortization	18,889,212	17,476,078
Non-Cash Operating Lease Costs	15,692,972	14,964,892
Accretion of Debt Discount and Loan Origination Fees	10,103,664	4,898,960
Loss on Disposal of Asset	669,601	0
Gain on Lease Modifications	(17,908,817)	0
Accretion of Deferred Gain on Sale of Property	(283,315)	(283,313)
Impairment of Assets	789,709	0
Realized and Unrealized Gain on Investments, Assets Held for Sale and Other Assets	(10,454,608)	(16,514,480)
Unrealized Gain on Changes in Fair Value of Contingent Consideration	390,727	7,499,325
Change in Fair Value of Derivative Liabilities	(127,500)	(8,029,704)
Loss on Extinguishment of Debt and Settlement of Accounts Payables and Accrued Liabilities	10,429,797	32,182,825
Share-Based Compensation	3,800,858	9,512,324
Shares Issued for Acquisition Costs	318,095	421,497
Changes in Operating Assets and Liabilities:
Accounts Receivable and Income Taxes Receivable	(300,602)	(1,100,239)
Prepaid Rent - Related Party	0	2,712,237
Prepaid Expenses	(172)	7,245,054
Inventory	(2,857,752)	(9,441,420)
Other Current Assets	5,498,567	1,330,104
Due from Related Party	0	994,170
Other Assets	237,080	(9,317,551)
Accounts Payable and Accrued Liabilities	4,997,688	39,897,922
Income Taxes Payable	47,743,296	11,506,388
Other Current Liabilities	16,953,294	7,482,398
Interest Payments on Finance Leases	(1,984,118)	(2,982,699)
Cash Payments - Operating Lease Liabilities	(16,077,196)	(17,329,775)
Due to Related Party	(182,087)	(717,848)
Other Non-Current Liabilities	0	(11,984)
NET CASH USED IN CONTINUED OPERATING ACTIVITIES	(27,347,395)	(68,639,400)
Net Cash Used in Discontinued Operating Activities	(2,347,948)	(1,041,277)
NET CASH USED IN OPERATING ACTIVITIES	(29,695,343)	(69,680,677)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of Property and Equipment	(1,490,447)	(48,295,906)
Additions to Intangible Assets	(1,891,526)	(2,359,664)
Sale of Investments	0	12,500,000
Proceeds from Sale of Assets Held for Sale and Other Assets	18,752,185	4,952,822
Proceeds from Sale of Property	0	9,300,000
Acquisition of Businesses, Net of Cash Acquired	0	(1,000,001)
Restricted Cash	3,863	(60,256)
NET CASH PROVIDED BY (USED IN) CONTINUED INVESTING ACTIVITIES	15,374,075	(24,963,005)
Net Cash Used in Discontinued Investing Activities	0	(1,491,328)
NET CASH PROVIDED BY (USED IN) INVESTING ACTIVITIES	15,374,075	(26,454,333)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of Subordinate Voting Shares for Cash	0	52,599,249
Cash Received in Advance for Issuance of Equity	0	2,000,000
Proceeds from Issuance of Senior Secured Convertible Credit Facility	5,468,565	35,000,000
Proceeds from Issuance of Notes Payable	14,830,279	13,850,000
Principal Repayments of Senior Secured Convertible Credit Facility	(8,000,000)	0
Principal Repayments of Notes Payable	(481,780)	(12,745,839)
Principal Repayments of Finance Lease Liability	(39,880)	(297,588)
Debt and Equity Issuance Costs	0	(1,186,187)
Distributions - Non-Controlling Interest	0	(310,633)
NET CASH PROVIDED BY FINANCING ACTIVITIES	11,777,184	88,909,002
NET DECREASE IN CASH AND CASH EQUIVALENTS	(2,544,084)	(7,226,008)
Cash and Cash Equivalents, Beginning of Period		33,226,370
CASH AND CASH EQUIVALENTS, END OF PERIOD	7,549,841	26,000,362
SUPPLEMENTAL DISCLOSURE FOR CASH FLOW INFORMATION
Cash Paid for Interest	4,542,208	4,204,613
Non-Cash Investing and Financing Activities:
Net Assets Transferred to Held for Sale	6,614,987	11,823,655
Receivable Recorded on Asset Held for Sale	2,876,792	0
Adoption of ASC 842 - Leases	0	162,551,190
Lease Termination and Amendments	36,767,595	0
Recognition of Right-of-Use Assets for Finance Leases	350,249	45,614,041
Paid-in-Kind Interest Capitalized to Debt	24,032,739	0
Settlement of Contingent Consideration with Shares	0	10,811,219
Increase in Fair Value of Contingent Consideration Related to Asset Acquisition	0	9,374,487
Issuance of Subordinate Voting Shares for Intangible Assets and Other Assets	0	7,302,040
Redemption of MedMen Corp Redeemable Shares	48,580,443	675,128
Release of Investments for Liabilities	750,000	0
Shares Issued to Settle Accounts Payable and Liabilities	1,159,071	2,028,342
Equity Component of Debt - New and Amended	33,589,921	0
Net Effect of Equity on Debt	0	2,517,014
Deferred Tax Impact on Conversion Feature	$ 11,233,284	$ 260

NATURE OF OPERATIONS

NATURE OF OPERATIONS	6 Months Ended
	Dec. 26, 2020
NATURE OF OPERATIONS
Note 1. NATURE OF OPERATIONS	MedMen Enterprises Inc. (“MedMen Enterprises” or the “Company”), formerly known as Ladera Ventures Corp., was incorporated under the Business Corporations Act (British Columbia) on May 21, 1987. The Company’s Class B Subordinate Voting Shares are listed on the Canadian Securities Exchange under the symbol “MMEN”, on the OTCQX under the symbol “MMNFF”, on the Frankfurt Stock Exchange under the symbol “OJS.F”, on the Stuttgart Stock Exchange under the symbol “OJS.SG”, on the Munich Stock Exchange under the symbol “OJS.MU”, on the Berlin Stock Exchange under the symbol “OJS.BE” and on the Dusseldorf Stock Exchange under the symbol “OJS.DU”. The head office and principal address of the Company is 10115 Jefferson Boulevard, Culver City, California 90232. The Company’s registered and records office address is 885 West Georgia Street, Suite 2200, Vancouver, British Columbia Canada V6C 3E8. The Company operates through its principal wholly-owned subsidiaries, MM CAN USA, Inc., a California corporation (“MM CAN” or “MedMen Corp”), and MM Enterprises USA, LLC, a Delaware limited liability company (“MM Enterprises USA”). MM CAN was converted into a California corporation (from a Delaware corporation) on May 16, 2018 and is based in Culver City, California. The head office and principal address of MM CAN is 10115 Jefferson Boulevard, Culver City, California 90232. MM Enterprises USA was formed on January 9, 2018 and is based in Culver City, California. The head office and principal address of MM Enterprises USA is 10115 Jefferson Boulevard, Culver City, California 90232. MM Enterprises USA was formed as a joint venture whose contributors were MMMG, LLC (“MMMG”); MedMen Opportunity Fund, LP (“Fund I”); MedMen Opportunity Fund II, LP (“Fund II”), The MedMen of Nevada 2, LLC (“MMNV2”); DHSM Investors, LLC (“DHS Owner”); and Bloomfield Partners Utica, LLC (“Utica Owner”) (collectively, the “MedMen Group of Companies”). On January 24, 2018, pursuant to a Formation and Contribution Agreement (the “Agreement”), a roll-up transaction was consummated whereby the assets and liabilities of the MedMen Group of Companies were transferred into MM Enterprises USA. In return, the MedMen Group of Companies received 217,184,382 MM Enterprises USA Class B Units. The Agreement was entered into by and among MM Enterprises Manager, LLC, the sole manager of MM Enterprises USA; MMMG; Fund I; Fund II; MMNV2; DHS Owner; and Utica Owner.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Dec. 26, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Note 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Basis of Preparation The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared on a going concern basis in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited interim Condensed Consolidated Financial Statements include the accounts of MedMen Enterprises, its subsidiaries and variable interest entities (“VIEs”) where the Company is considered the primary beneficiary, if any, after elimination of intercompany accounts and transactions. Investments in entities in which the Company has significant influence, but less than a controlling financial interest, are accounted for using the equity method. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the consolidated financial position of the Company as of December 26, 2020 and June 27, 2020, the consolidated results of operations for the three and six months ended December 26, 2020 and December 28, 2019, and the consolidated statements of cash flows for the six months ended December 26, 2020 and December 28, 2019 have been included. The accompanying unaudited interim Condensed Consolidated Financial Statements do not include all of the information required for full annual financial statements. Accordingly, certain information, footnotes and disclosures normally included in the annual financial statements, prepared in accordance with GAAP, have been condensed or omitted in accordance with SEC rules and regulations within the instruction to Form 10-Q and Article 10 of Regulation S-X. The financial data presented herein should be read in conjunction with the audited Consolidated Financial Statements and accompanying notes included in Item 13 of the registration statement on Form 10 for the fiscal year ended June 27, 2020. Going Concern As reflected in the Condensed Consolidated Financial Statements, the Company had an accumulated deficit and a negative net working capital (current liabilities greater than current assets) as of December 26, 2020, as well as a net loss and negative cash flow from operating activities for the reporting period then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern for at least one year from the issuance of these unaudited interim Condensed Consolidated Financial Statements. Management believes that substantial doubt of our ability to meet our obligations for the next twelve months from the date these financial statements were first made available has been alleviated due to, but not limited to, (i) capital raised between February 2021 and February 2022, (ii) restructuring plans that have already been put in place to reduce corporate-level expenses, (iii) debt amendments that have been agreed to with lenders and landlords to defer cash interest and rent payments, (iv) reduction in capital expenditures through a slow-down in new store buildouts, (v) plans to divest non-core assets to raise non-dilutive capital, (vi) enhancements to its digital offering, including direct-to-consumer delivery and curbside pick-up in light of COVID-19 and (vii) a change in retail strategy to pass certain local taxes and payment processing fees to customers. However, management cannot provide any assurances that we will be successful in accomplishing any of our plans. Management also cannot provide any assurance as to unforeseen circumstances that could occur at any time within the next twelve months or thereafter which could increase our need to raise additional capital on an immediate basis. The Company will continually monitor its capital requirements based on its capital and operational needs and the economic environment and may raise new capital as necessary. The Company’s ability to continue as a going concern will depend on its ability to raise additional equity or debt in the private or public markets, reducing operating expenses, divesting of certain non-core assets, achieving cash flow profitability. While the Company has been successful in raising equity and debt to date, there can be no assurances that the Company will be successful in completing a financing in the future. If the Company is unable to raise additional capital whenever necessary, it may be forced to divest additional assets to raise capital and/or pay down its debt, amend its debt agreements which could potentially have a dilutive effect on the Company’s shareholders, further reduce operating expenses and temporarily pause the opening of new store locations. Furthermore, COVID-19 and the impact the global pandemic has had and will continue to have on the broader retail environment could also have a significant impact on the Company’s financial operations. COVID-19 The COVID-19 pandemic promoted unparalleled procedures from governments and businesses such as restrictions on travel and business operations, temporary closures of businesses, and quarantine and shelter-in-place orders. During the current reporting period, aspects of the Company’s business continue to be affected by the COVID-19 pandemic, with the Company’s offices and retail stores operating within local rules and regulations. While the ultimate severity of the outbreak and its impact on the economic environment is uncertain, the Company is monitoring this closely. In the event that the Company were to experience widespread transmission of the virus at one or more of the Company’s store or other facilities, the Company could suffer reputational harm or other potential liability. Further, the Company’s business operations may be materially and adversely affected if a significant number of the Company’s employees are impacted by the virus. Emerging Growth Company The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act (the “JOBS Act”) under which emerging growth companies can delay adopting new or revised accounting standards until such time as those standards apply to private companies. Functional Currency The Company and its subsidiaries’ functional currency, as determined by management, is the United States (“U.S.”) dollar. These unaudited interim Condensed Consolidated Financial Statements are presented in U.S. dollars as this is the primary economic environment of the group. All references to “C$” refer to Canadian dollars. Significant Accounting Policies The significant accounting policies and critical estimates applied by the Company in these unaudited interim Condensed Consolidated Financial Statements are the same as those applied in the Company’s audited Consolidated Financial Statements and accompanying notes included in Item 13 of the registration statement on Form 10 for the fiscal year ended June 27, 2020, unless otherwise disclosed in these accompanying notes to the Condensed Consolidated Financial Statements for the six months ended December 26, 2020. Restricted Cash Restricted cash balances are those which meet the definition of cash and cash equivalents but are not available for use by the Company. As of December 26, 2020 and June 27, 2020, restricted cash was $6,010 and $9,873, respectively, which is used to pay for lease costs and costs incurred related to building construction in Reno, Nevada. This account is managed by a contractor and the Company is required to maintain a certain minimum balance. Down-Round Provisions The Company calculates down-round features under Accounting Standards Update (“ASU”) No. 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features” Loss per Share The Company calculates basic loss per share by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted loss per share is determined by adjusting profit or loss attributable to common shareholders and the weighted-average number of common shares outstanding, for the effects of all dilutive potential common shares, which comprise convertible debentures, DSU, RSU, warrants and stock options issued. Recently Adopted Accounting Standards In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments” In January 2017, the FASB issued ASU No. 2017-04 “Intangibles— Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement Recently Issued Accounting Standards In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes (Topic 740)”, In January 2020, the FASB issued ASU 2020-01, “ Investments – Equity Securities (Topic 321) Investments – Equity Method and Joint Ventures (Topic 323) Derivatives and Hedging (Topic 815) In August 2020, the FASB issued ASU 2020-06, “ Debt – Debt with Conversion and Other Options (Subtopic 470-20) Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible instruments and contracts in an Entity’s Own Equity

INVENTORIES

INVENTORIES	6 Months Ended
	Dec. 26, 2020
INVENTORIES
Note 3. INVENTORIES	As of December 26, 2020 and June 27, 2020, inventory consists of the following: December 26, June 27, 2020 2020 Raw Materials $ 3,326,636 $ 2,055,500 Work-in-Process 9,173,021 8,807,137 Finished Goods 12,996,215 11,775,483 Total Inventory $ 25,495,872 $ 22,638,120

OTHER CURRENT ASSETS

OTHER CURRENT ASSETS	6 Months Ended
	Dec. 26, 2020
OTHER CURRENT ASSETS
Note 4. OTHER CURRENT ASSETS	As of December 26, 2020 and June 27, 2020, other current assets consist of the following: December 26, June 27, 2020 2020 Investments $ 3,036,791 $ 3,786,791 Excise Tax Receivable - 5,254,595 Note Receivable (1) 2,549,302 - Other Current Assets 147,589 64,071 Total Other Current Assets $ 5,733,682 $ 9,105,457 ________________________ (1) See “Note 5 – Assets Held for Sale” for further information. As of December 26, 2020 and June 27, 2020, investments included in other current assets consist of the following: ToroVerde Inc. (1) The Hacienda Company, LLC (2) Old Pal (3) Other Investments TOTAL Fair Value as of June 27, 2020 $ - $ 750,000 $ 1,970,000 $ 1,066,791 $ 3,786,791 Settlement of Liabilities - (750,000 ) - - (750,000 ) Fair Value as of December 26, 2020 $ - $ - $ 1,970,000 $ 1,066,791 $ 3,036,791 ________________________ (1) In July 2018, the Company purchased 9,000,000 common shares of ToroVerde Inc., an investment company focused on emerging international cannabis markets, for an aggregate purchase price of $5,000,000, or $0.56 per common share, amounting to 14.3% of the outstanding common shares. As the Company was not deemed to exert any significant influence, the investment was recorded at FVTPL as of December 26, 2020 and June 27, 2020. As of December 26, 2020 and June 27, 2020, the Company holds 14.3% of the equity ownership and voting interests in this investment. (2) In July 2018, the Company purchased units of The Hacienda Company, LLC, a California limited liability company, which owns Lowell Herb Co., a California-based cannabis brand known for its pack of pre-rolls called Lowell Smokes, for an aggregate purchase price of $1,500,000, amounting to 3.2% of the outstanding units. Pursuant to SEC guidance under ASC 323, “Investments - Equity Method and Joint Ventures” the application of equity method to investments applies to limited liability companies and are required unless the investor holds less than 3-5%. Accordingly, the Company was deemed to have significant influence resulting in equity method accounting. The Company has elected the fair value option under ASC 825, “Financial Instruments” and the investment was recorded at FVTPL. As of December 26, 2020 and June 27, 2020, the Company holds 0% and 3.2%, respectively, of the equity ownership and voting interests in this investment. (3) In October 2018 and March 2019, the Company purchased an aggregate of 125.3 units of Old Pal, a California-based brand that provides high-quality cannabis flower for its customers, for an aggregate purchase price of $2,000,000, amounting to approximately 10.0% of the outstanding units with 8.7% voting interests. Pursuant to SEC guidance under ASC 323, the application of equity method to investments applies to limited liability companies and are required unless the investor holds less than 3-5%. Accordingly, the Company was deemed to have significant influence resulting in equity method accounting. During the year ended June 27, 2020, the Company decreased their level of ownership in which Old Pal no longer qualified under equity method accounting. The Company has elected the fair value option under ASC 825 and the investment was recorded at FVTPL as of June 27, 2020 and continues to measure Old Pal at the previously elected FVTPL under ASC 323 as of December 26, 2020. As of December 26, 2020, the Company holds 2.6% of the equity ownership and 1.4% of the voting interests in this investment. As of December 26, 2020, the Company’s investment balance in ToroVerde Inc. and The Hacienda Company, LLC was nil and nil, respectively. In August 2020, the Company entered into an agreement to exchange all of its investment in The Hacienda Company, LLC to settle outstanding balances totaling approximately $750,000. The Company determined that the fair value of its investment in Old Pal LLC was $1,970,000 as of December 26, 2020. The fair value of investments included in other current assets is considered a Level 3 categorization in the fair value hierarchy. Investments are measured at fair value using a market approach that is based on unobservable inputs.

ASSETS HELD FOR SALE

ASSETS HELD FOR SALE	6 Months Ended
	Dec. 26, 2020
ASSETS HELD FOR SALE
Note 5. ASSETS HELD FOR SALE	A reconciliation of the beginning and ending balances of assets held for sale for the six months ended December 26, 2020 is as follows: PharmaCann Assets (1) Available for Sale Subsidiaries (2) Discontinued Operations (3) TOTAL Balance at Beginning of Period $ 212,400 $ 12,066,428 $ 21,181,051 $ 33,459,879 Transferred In - 6,614,987 - 6,614,987 Gain on the Sale of Assets Held for Sale - 10,454,608 - 10,454,608 Proceeds from Sale - (20,907,879 ) - (20,907,879 ) Ongoing Activity from Discontinued Operations - (1,621,372 ) (7,501,013 ) (9,122,385 ) Balance at End of Period $ 212,400 $ 6,606,772 $ 13,680,038 $ 20,499,209 ________________________ (1) During the year ended June 27, 2020, PharmaCann LLC, (“PharmaCann”) transferred 100% of the membership interests for MME Evanston Retail, LLC (“Evanston”), PharmaCann Virginia, LLC (“Staunton”), and PC 16280 East Twombly LLC (“Hillcrest”). As of December 27, 2020, the Company has 100% of membership interests in Staunton which holds land and a license for a vertically-integrated facility in Staunton, Virginia. The Staunton land and license were classified as assets held for sale in accordance with ASC 360, “Long-Lived Assets Classified as Held for Sale” and are measured at the lower of its carrying amount or fair value less costs to sell (“FVLCTS”) which was determined as $212,400 and $0, respectively, as of December 26, 2020. (2) Long-lived assets classified as held for sale that do not qualify as discontinued operation and classified as held for sale. Significant classes of assets and liabilities are presented in the notes to the Condensed Consolidated Financial Statements in accordance with ASC 360-10. (3) See “Note 24 - Discontinued Operations” for further information. During the six months ended December 26, 2020, the Company agreed to transfer all outstanding membership interests in MME Evanston Retail, LLC (“Evanston”), for a dispensary operation located in Evanston, Illinois, to an unaffiliated third party (“Purchaser”). The Company received an aggregate consideration of $20,000,000, of which, $10,000,000 cash was received at closing on July 1, 2020 (“Closing Date”), an additional $8,000,000 cash was received on November 17, 2020 and an additional $2,000,000 in the form of a secured promissory note will be payable three months following the Closing Date in exchange for all of the Company’s membership interests in Evanston. On August 10, 2020 (“Effective Date”), all operational control and risk of loss was transferred to the Purchaser and the Company had no further obligation to fund operations of Evanston through a Consulting Agreement. Management performed an assessment and determined that the Company no longer has a controlling financial interest as of the Effective Date. The transfer of the cannabis license is pending regulatory approval as of the issuance of these Condensed Consolidated Financial Statements and the Company will take all commercially reasonable steps to maintain all permits for Evanston to operate its business. The Company recognized a gain upon sale of membership interests equal to the difference between the aggregate consideration and the book value of the assets as of the disposition date, less direct costs to sell, which is recognized on the Condensed Consolidated Statements of Operations during the six months ended December 26, 2020. During the six months ended December 26, 2020, the Company decided to divest two cannabis licenses and entered into separate agreements to sell 100% of its membership interests in these two locations, located in California. On June 26, 2020, the Company entered into a non-binding term sheet for the retail location located in Seaside, California for an aggregate sales price of $1,500,000 wherein $750,000 is to be paid upon the date of close in addition to $750,000 paid in equal monthly installments over twelve months through a promissory note. The transaction closed in October 2020 and the Company transferred all outstanding membership interests in PHSL, LLC. Upon deconsolidation, the Company will not have any continuing involvement with the former subsidiary. The Company recognized a loss upon sale of membership interests of $332,747 for the difference between the aggregate consideration and the book value of the assets as of the disposition date, less direct costs to sell, which is recognized on the Condensed Consolidated Statements of Operations during the six months ended December 26, 2020. In December 2020, the Company entered into a purchase agreement for the sale of its membership interests in a retail location in California for a total consideration of $3,750,000 in which $3,500,000 cash is to be paid within thirty days following the date of close and equity consideration equal to $250,000. As of December 26, 2020, the contemplated sale is pending customary closing conditions and are expected to be completed within a one year period. The assets and liabilities related to these subsidiaries were classified as held for sale in accordance with ASC 360-10 and are measured at the lower of its carrying amount or FVLCTS. Subsidiaries classified as assets held for sale that do not qualify as discontinued operations as of December 26, 2020 and June 27, 2020 consists of the following: December 26, June 27, 2020 2020 Carrying Amounts of the Assets Included in Assets Held for Sale: Cash and Cash Equivalents $ - $ 743,271 Prepaid Expenses 103 7,798 Inventory - 520,464 Other Current Assets - 81,427 TOTAL CURRENT ASSETS (1) Property and Equipment, Net 166,657 717,952 Operating Lease Right-of-Use Assets 965,558 190,986 Intangible Assets, Net 5,474,454 5,227,288 Goodwill - 4,577,242 TOTAL NON-CURRENT ASSETS (1) TOTAL ASSETS OF SUBSIDIARIES CLASSIFIED AS HELD FOR SALE $ 6,606,772 $ 12,066,428 Carrying Amounts of the Liabilities Included in Assets Held for Sale: Accounts Payable and Accrued Liabilities $ 10,698 $ 963,255 Income Taxes Payable - 159,053 Other Current Liabilities - 27,854 Current Portion of Operating Lease Liabilities 272,119 - TOTAL CURRENT LIABILITIES (1) Operating Lease Liabilities, Net of Current Portion 965,592 296,694 Deferred Tax Liabilities 1,793,659 2,151,879 TOTAL NON-CURRENT LIABILITIES (1) TOTAL LIABILITIES OF SUBSIDIARIES CLASSIFIED AS HELD FOR SALE $ 3,042,068 $ 3,598,735 _____________________ (1) The assets and liabilities of subsidiaries classified as held for sale are classified as current on the Condensed Consolidated Balance Sheets as of December 26, 2020 and June 27, 2020 because it is probable that the sale will occur and proceeds will be collected within one year.

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT	6 Months Ended
	Dec. 26, 2020
PROPERTY AND EQUIPMENT
Note 6. PROPERTY AND EQUIPMENT	As of December 26, 2020 and June 27, 2020, property and equipment consists of the following: December 26, June 27, 2020 2020 Land and Buildings $ 37,421,326 $ 37,400,378 Finance Lease Right-of-Use Assets 12,650,946 26,194,566 Furniture and Fixtures 14,042,105 13,970,449 Leasehold Improvements 67,534,535 63,976,372 Equipment and Software 29,700,665 29,277,120 Construction in Progress 36,404,721 38,470,016 Total Property and Equipment 197,754,298 209,288,901 Less Accumulated Depreciation (45,327,125 ) (34,741,034 ) Property and Equipment, Net $ 152,427,173 $ 174,547,867 Depreciation expense related to continuing operations of $3,960,243 and $9,512,628 was recorded for the three and six months ended December 26, 2020, respectively, of which $278,719 and $558,250, respectively, is included in cost of goods sold. Depreciation expense related to continuing operations of $3,344,124 and $10,410,880 was recorded for the three and six months ended December 28, 2019, respectively, of which $406,103 and $1,348,645, respectively, is included in cost of goods sold. The amount of depreciation recognized for the right of use assets for capital leases during the three and six months ended December 26, 2020 was $83,427 and $397,569, respectively, see “Note 11 – Leases” During the three and six months ended December 28, 2019, borrowing costs totaling $1,432,632 and $2,308,728, respectively, were capitalized using an average capitalization rate of 15% and 15%, respectively. Borrowing costs were not capitalized as there were no active construction projects in progress during the three and six months ended December 26, 2020. In addition, during the three and six months ended December 26, 2020, total labor related costs of $71,000 and $507,164, respectively, were capitalized to Construction in Progress, of which $12,000 and $148,386, respectively, was share-based compensation. During the three and six months ended December 28, 2019, total labor related costs of $339,905 and $776,069, respectively, were capitalized to Construction in Progress, of which $36,269 and $172,655, respectively, was share-based compensation.

INTANGIBLE ASSETS

INTANGIBLE ASSETS	6 Months Ended
	Dec. 26, 2020
INTANGIBLE ASSETS
Note 7. INTANGIBLE ASSETS	As of December 26, 2020 and June 27, 2020, intangible assets consist of the following: December 26, June 27, 2020 2020 Dispensary Licenses $ 133,053,216 $ 139,736,881 Customer Relationships 18,586,200 18,586,200 Management Agreement 7,594,937 7,594,937 Capitalized Software 9,343,352 9,255,026 Intellectual Property 7,850,517 8,520,121 Total Intangible Assets 176,428,222 183,693,165 Dispensary Licenses (23,064,894 ) (19,162,587 ) Customer Relationships (13,407,729 ) (8,113,913 ) Management Agreement (665,276 ) (565,972 ) Capitalized Software (3,462,896 ) (2,273,432 ) Intellectual Property (2,246,961 ) (5,496,231 ) Less Accumulated Amortization (42,847,756 ) (35,612,135 ) Intangible Assets, Net $ 133,580,466 $ 148,081,030 The Company recorded amortization expense related to continuing operations of $6,023,730 and $9,376,584 for the three and six months ended December 26, 2020, respectively. The Company recorded amortization expense related to continuing operations of $3,705,231 and $7,065,198 for the three and six months ended December 28, 2019, respectively. During the three and six months ended December 26, 2020, $13,300 and $38,119, respectively, of share-based compensation was capitalized to capitalized software. During the three and six months ended December 28, 2019, $70,988 and $272,242, respectively, of share-based compensation was capitalized to capitalized software.

OTHER ASSETS

OTHER ASSETS	6 Months Ended
	Dec. 26, 2020
OTHER ASSETS
Note 8. OTHER ASSETS	As of December 26, 2020 and June 27, 2020, other assets consist of the following: December 26, June 27, 2020 2020 Long-Term Security Deposits for Leases $ 9,271,565 $ 9,752,611 Loans and Other Long-Term Deposits 7,769,757 7,568,738 Other Assets 96,595 53,648 Total Other Assets $ 17,137,917 $ 17,374,997

ACCOUNTS PAYABLE AND ACCRUED LI

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	6 Months Ended
	Dec. 26, 2020
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Note 9. ACCOUNTS PAYABLE AND ACCRUED LIABILITIES	As of December 26, 2020 and June 27, 2020, accounts payable and accrued liabilities consist of the following: December 26, June 27, 2020 2020 Accounts Payable $ 57,692,382 $ 58,614,619 Accrued Liabilities 13,234,560 10,532,715 Other Accrued Liabilities 9,708,487 10,383,596 Total Accounts Payable and Accrued Liabilities $ 80,635,429 $ 79,530,930

OTHER CURRENT LIABILITIES

OTHER CURRENT LIABILITIES	6 Months Ended
	Dec. 26, 2020
OTHER CURRENT LIABILITIES
Note 10. OTHER CURRENT LIABILITIES	As of December 26, 2020 and June 27, 2020, other current liabilities consist of the following: December 26, June 27, 2020 2020 Accrued Interest Payable $ 1,857,304 $ 9,051,650 Contingent Consideration 87,893 8,951,801 Derivatives 418,576 546,076 Other Current Liabilities 11,098,390 1,728,854 Total Other Current Liabilities $ 13,462,163 $ 20,278,381 Contingent Consideration Contingent consideration recorded relates to a business acquisition during the year ended June 27, 2020. The contingent consideration related to the acquisition of One Love Beach Club is based upon fair value of the additional shares required to be paid upon the expiration of the lock-up and is based upon the fair market value of the Company’s trading stock and is considered a Level 1 categorization in the fair value hierarchy. Contingent consideration classified as a liability and measured at fair value in accordance with ASC 480, “Distinguishing Liabilities from Equity”. Derivative Liabilities A reconciliation of the beginning and ending balance of derivative liabilities and change in fair value of derivative liabilities for the six months ended December 26, 2020 is as follows: December 26, 2020 Balance at Beginning of Period $ 546,076 Change in Fair Value of Derivative Liabilities (127,500 ) Balance at End of Period $ 418,576 Fair value was measured based on Level 1 inputs on the fair value hierarchy since there are quoted prices in active markets for these warrants. The Company used the closing price of the publicly-traded warrants to estimate fair value of the derivative liability as of December 26, 2020.

LEASES

LEASES	6 Months Ended
	Dec. 26, 2020
LEASES
Note 11. LEASES	In accordance with ASU 2016-02, the Company determines if an arrangement is a lease at inception. Operating leases are included in operating lease right‐of‐use (“ROU”) assets and accrued obligations under operating lease (current and non-current) liabilities in the Condensed Consolidated Balance Sheets. Finance lease ROU assets are included in property and equipment, net and accrued obligations under finance lease (current and noncurrent) liabilities in the Condensed Consolidated Balance Sheets. ROU assets represent the Company’s right to use an underlying asset for the lease term and lease liabilities represent the Company’s obligation to make lease payments arising from the lease. ROU assets are classified as a finance lease or an operating lease. The Company classifies a lease as an operating lease when it does not meet any of the criteria of a finance lease as set forth by ASU 2016-02. ROU assets and liabilities are recognized at commencement date based on the present value of lease payments over the lease term. Most operating leases contain renewal options that provide for rent increases based on prevailing market conditions. The Company has lease extension terms at its properties that have either been extended or are likely to be extended. The terms used to calculate the ROU assets for these properties include the renewal options that the Company is reasonably certain to exercise. The below are the details of the lease cost and other disclosures regarding the Company’s leases for the three and six months ended December 26, 2020 and December 28, 2019: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Finance Lease Cost: Amortization of Finance Lease Right-of-Use Assets $ 83,426 $ 546,157 $ 397,569 $ 2,616,924 Interest on Lease Liabilities 460,297 1,549,769 1,984,118 2,982,699 Operating Lease Cost 8,034,052 7,978,593 15,692,972 14,964,892 Total Lease Expenses $ 8,577,775 $ 10,074,519 $ 18,074,659 $ 20,564,515 2020 2019 2020 2019 Gain on Sale and Leaseback Transactions, Net $ - $ - $ - $ (704,207 ) Cash Paid for Amounts Included in the Measurement of Lease Liabilities: Financing Cash Flows from Finance Leases $ - $ 297,588 $ 39,880 $ 297,588 Operating Cash Flows from Operating Leases $ 6,918,798 $ 10,157,732 $ 16,077,196 $ 17,329,775 Non-Cash Additions to Right-of-Use Assets and Lease Liabilities: Recognition of Right-of-Use Assets for Finance Leases $ - $ 2,937,513 $ 350,249 $ 45,614,041 Recognition of Right-of-Use Assets for Operating Leases $ - $ 20,993,959 $ - $ 162,551,190 The weighted-average remaining lease term and discount rate related to the Company’s finance lease liabilities as of December 26, 2020 were 42 years and 15.93%, respectively. The weighted-average remaining lease term and discount rate related to the Company’s operating lease liabilities as of December 26, 2020 were 8 years and 13.38%, respectively. The Company’s lease discount rates are generally based on estimates of its incremental borrowing rate, as the discount rates implicit in the Company’s leases cannot be readily determined. Future lease payments under non-cancelable operating leases and finance leases as of December 26, 2020 are as follows: Fiscal Year Ending Operating Leases Finance Leases June 26, 2021 $ 14,166,912 $ 2,388,782 June 25, 2022 28,762,223 5,344,591 June 24, 2023 28,896,785 5,504,327 June 29, 2024 33,130,642 9,880,306 June 28, 2025 40,475,748 6,542,077 December 27, 2026 and Thereafter 109,374,556 1,076,344,422 Total Lease Payments 254,806,866 1,106,004,505 Less Interest (132,713,189 ) (1,077,756,509 ) Present Value of Lease Liability $ 122,093,677 $ 28,247,996 Finance leases noted above contain required security deposits, refer to “Note 8 – Other Assets” Lease Deferral Arrangements During the six months ended December 26, 2020, the Company modified its existing lease arrangements with the Treehouse Real Estate Investment Trust (the “REIT”) in which the REIT agreed to defer a portion of total current monthly base rent on certain cultivation facilities and ground leases for the 36-month period between July 1, 2020 and July 1, 2023 for a total of fourteen properties. Amendments for eight of the properties were accounted for as lease modifications in accordance with ASC 842 “ Leases Debt Note 12 – Notes Payable

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Dec. 26, 2020
NOTES PAYABLE
Note 12. NOTES PAYABLE	As of December 26, 2020 and June 27, 2020, notes payable consist of the following: December 26, June 27, 2020 2020 Financing liability incurred on various dates between January 2019 through September 2019 with implied interest rates ranging from 0.7% to 17.0% per annum. $ 83,400,000 $ 83,576,661 Non-revolving, senior secured term notes dated between October 1, 2018 and October 30, 2020, issued to accredited investors, which mature on January 31, 2022, and bear interest at a rate of 15.5% and 18.0% per annum. 100,712,185 77,675,000 Convertible debentures dated between September 16, 2020 and December 17, 2020, issued to accredited investors and qualified institutional buyers, which mature two years from issuance, and bear interest at a rate of 7.5% per annum. 4,000,000 - Promissory notes dated between January 15, 2019 through March 29, 2019, issued for deferred payments on acquisitions, which mature on varying dates from August 3, 2019 to June 30, 2020 and bear interest at rates ranging from 8.0% to 9.0% per annum. 15,992,000 16,173,250 Promissory notes dated November 7, 2018, issued to Lessor for tenant improvements as part of sales and leaseback transactions, which mature on November 7, 2028, bear interest at a rate of 10.0% per annum and require minimum monthly payments of $15,660 and $18,471. 2,221,112 2,339,564 Other 15,417 15,418 Total Notes Payable 206,340,714 179,779,893 Less Unamortized Debt Issuance Costs and Loan Origination Fees (11,827,601 ) (10,781,288 ) Net Amount $ 194,513,113 $ 168,998,605 Less Current Portion of Notes Payable (16,761,052 ) (16,188,668 ) Notes Payable, Net of Current Portion $ 177,752,061 $ 152,809,937 A reconciliation of the beginning and ending balances of notes payable for the six months ended December 26, 2020 is as follows: Balance at Beginning of Period $ 168,998,605 Cash Additions 14,830,279 Non-Cash Addition - Debt Modification 877,439 Debt Discount Recognized on Modification (947,918 ) Paid-In-Kind Interest Capitalized 11,454,467 Cash Payments (481,780 ) Equity Component of Debt (5,310,375 ) Cash Paid for Debt Issuance Costs 70,479 Accretion of Debt Discount 5,021,917 Balance at End of Period $ 194,513,113 Less Current Portion of Notes Payable (16,761,052 ) Notes Payable, Net of Current Portion $ 177,752,061 Amendments to Senior Secured Term Loan Facility On July 2, 2020, the Company completed the amendment of its existing term loan facility (the “Facility”) in the principal amount of $77,675,000 with funds managed by Hankey Capital and with an affiliate of Stable Road Capital (the “Lenders”) wherein the entirety of the interest at a rate of 15.5% per annum shall accrue monthly to the outstanding principal as payment-in-kind effective March 1, 2020 through July 2, 2021. Thereafter until maturity on January 31, 2022, one-half of the interest (7.75% per annum) shall be payable monthly in cash and one-half of the interest (7.75% per annum) shall be paid-in-kind. In addition, the Company may request an increase to the Facility through December 31, 2020 to be funded through incremental term loans. Certain reporting and financial covenants were added, and the minimum liquidity covenant was waived until September 30, 2020 wherein the amount of required cash balance thereafter was amended. The amendment to the Facility was not deemed to be a substantial modification under ASC 470-50, “Modifications and Extinguishments” The Company incurred an amendment fee of $834,000 that was added to the outstanding principal balance. As consideration for the amendment, the Company issued approximately 20,227,863 warrants exercisable at $0.34 per share until July 2, 2025. The Company also cancelled 20,227,863 existing warrants held by the lenders exercisable at $0.60 per share until December 31, 2022. The warrants may be exercised at the election of their holders on a cashless basis. The warrants issued in connection with the term loan facility met the scope exception under ASC 815, “Derivatives and Hedging” “Note 15 – Share-Based Compensation” On September 16, 2020, the Company entered into further amendments wherein the amount of funds available under the Facility was increased by $12,000,000, of which $5,700,000 was fully committed by the lenders through October 31, 2020. The additional amounts are funded through incremental term loans at an interest rate of 18.0% per annum wherein 12.0% shall be paid in cash monthly in arrears and 6.0% shall accrue monthly as payment-in-kind. In connection with each incremental draw under the amended Facility, the Company shall issue warrants equal to 200% of the incremental term loan amount, divided by the greater of (a) $0.20 per share and (b) 115% multiplied by the volume-weighted average trading price (“VWAP”) of the shares for the five consecutive trading days ending on the trading day immediately prior to the applicable funding date of the second tranche, which shall be the exercise price of the issued warrant. Such warrants are subject to a down round feature wherein the exercise price would be decreased in the event of the exercise of a down-round price reset of select warrants under the senior secured convertible credit facility with Gotham Green Partners (“GGP”). Refer to “ Note 13 – Senior Secured Convertible Credit Facility “Modifications and Extinguishments” On September 16, 2020, the Company closed on an incremental term loan of $3,000,000 under the amended Facility and issued 30,000,000 warrants with an exercise price of $0.20 per share until September 16, 2025. On October 30, 2020, the Company closed on an incremental term loan of $7,705,279 under the amended Facility and issued 77,052,790 warrants with an exercise price of $0.20 per share until September 14, 2025. The warrants may be exercised at the election of their holders on a cashless basis and are classified as equity instruments. See “Note 15 – Share-Based Compensation” On September 16, 2020 and September 28, 2020, the down round feature on the warrants issued in connection with the incremental term loan of $3,000,000 on September 16, 2020 was triggered wherein the exercise price was adjusted to $0.17 and $0.15 per share, respectively. The value of the effect of the down round feature was determined to be $405,480 and recognized as an increase in additional paid-in capital. Unsecured Convertible Facility On September 16, 2020, the Company entered into an unsecured convertible debenture facility for total available proceeds of $10,000,000 wherein the convertible debentures shall have a conversion price equal to the closing price on the trading day immediately prior to the closing date, a maturity date of 24 months from the date of issuance and will bear interest at a rate of 7.5% per annum payable semi-annually in cash. The unsecured facility is callable in additional tranches in the amount of $1,000,000 each, up to a maximum of $10,000,000 under all tranches. The timing of additional tranches can be accelerated based on certain conditions. The Company has the right to prepay, in whole or in part, the outstanding principal amount and accrued interest prior to maturity, upon payment of 7.5% of the principal amount being repaid, less the amount of interest paid during the year of prepayment. The debentures provide for the automatic conversion into Subordinate Voting Shares in the event that the VWAP is greater than $0.25 on the CSE for 45 consecutive trading days, at a conversion price per Subordinate Voting Share equal to $0.17. On September 16, 2020, the Company closed on an initial $1,000,000 of the facility with a conversion price of $0.17 per Subordinate Voting Share. In connection with the initial tranche, the Company issued 3,293,413 warrants with an exercise price of $0.21 per share. On September 28, 2020, the Company closed on a second tranche of $1,000,000 under its existing unsecured convertible facility with a conversion price of $0.15 per Subordinate Voting Share. In connection with the second tranche, the Company issued 3,777,475 warrants with an exercise price of $0.17 per Subordinate Voting Share. On November 20, 2020, the Company closed on a third tranche of $1,000,000 under the facility with a conversion price of $0.15 per Subordinate Voting Share. In connection with the third tranche, the Company issued 3,592,425 warrants with an exercise price of $0.17 per share. On December 17, 2020, the Company closed on a fourth tranche of $1,000,000 under the facility with a conversion price of $0.15 per Subordinate Voting Share. In connection with the fourth tranche, the Company issued 3,597,100 warrants with an exercise price of $0.18 per share. Under ASC 815, the conversion option and warrants were recorded as an equity instrument. As of December 26, 2020, the relative fair value of the warrants with a value of $650,933 has been recorded to equity. Financing Liability In connection with the Company’s failed sale and leaseback transactions described in “Note 11 – Leases” Modifications and Extinguishments

SENIOR SECURED CONVERTIBLE CRED

SENIOR SECURED CONVERTIBLE CREDIT FACILITY	6 Months Ended
	Dec. 26, 2020
SENIOR SECURED CONVERTIBLE CREDIT FACILITY
Note 13. SENIOR SECURED CONVERTIBLE CREDIT FACILITY	As of December 26, 2020 and June 27, 2020, senior secured convertible credit facility consists of the following: December 26, June 27, Tranche 2020 2020 Senior secured convertible notes dated April 23, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 1A $ 16,092,152 $ 21,660,583 Senior secured convertible notes dated May 22, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 1B 90,698,233 86,053,316 Senior secured convertible notes dated July 12, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 2 28,340,475 26,570,948 Senior secured convertible notes dated November 27, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 3 10,974,012 10,288,815 Senior secured convertible notes dated March 27, 2020, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 4 13,327,075 12,500,000 Amendment fee converted to senior secured convertible notes dated October 29, 2019, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. - 20,717,133 19,423,593 Senior secured convertible notes dated April 24, 2020, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. IA-1 2,894,053 2,734,282 Senior secured convertible notes dated September 14, 2020, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. IA-2 5,596,564 - Restatement fee issued in senior secured convertible notes dated March 27, 2020, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. - 8,745,997 8,199,863 Second restatement fee issued in senior secured convertible notes dated July 2, 2020, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. - 2,092,538 - Total Drawn on Senior Secured Convertible Credit Facility 199,478,232 187,431,400 Less Unamortized Debt Discount (39,886,067 ) (21,062,937 ) Senior Secured Convertible Credit Facility, Net $ 159,592,165 $ 166,368,463 A reconciliation of the beginning and ending balances of senior secured convertible credit facility for the six months ended December 26, 2020 is as follows: Tranche 1 Tranche 2 Tranche 3 Tranche 4 Incremental Advance - 1 Incremental Advance - 2 Amendment Fee Notes Restatement Fee Notes 2nd Restatement Fee Notes TOTAL Balance as of June 27, 2020 $ 102,833,447 $ 25,352,687 $ 9,680,433 $ 286,691 $ 2,168,540 $ - $ 18,964,600 $ 7,082,065 $ - $ 166,368,463 Cash Additions - - - - - 5,468,565 - - - 5,468,565 Repayments (8,000,000 ) - - - - - - - - (8,000,000 ) Fees Capitalized to Debt Related to Debt Modifications - - - - - (468,564 ) - - 2,000,000 1,531,436 Paid-In-Kind Interest Capitalized 7,076,486 1,769,530 685,198 827,075 159,771 128,000 1,293,540 546,134 92,538 12,578,272 Net Effect on Debt from Extinguishment 4,812,996 962,750 497,175 2,167,870 (453,979 ) - 455,792 630,758 - 9,073,362 Net Effect on Equity Component of New and Amended Debt (13,190,673 ) (3,412,171 ) (1,454,451 ) (2,839,602 ) (1,296,844 ) (3,239,508 ) (2,349,451 ) (4,551,980 ) - (32,334,680 ) Cash Paid for Debt Issuance Costs - - - - - (175,000 ) - - - (175,000 ) Amortization of Debt Discounts 2,185,753 566,800 241,271 676,309 215,283 329,917 351,577 514,837 - 5,081,747 Balance as of December 26, 2020 $ 95,718,009 $ 25,239,596 $ 9,649,626 $ 1,118,343 $ 792,771 $ 2,043,410 $ 18,716,058 $ 4,221,814 $ 2,092,538 $ 159,592,165 On July 2, 2020, the Company amended and restated the securities purchase agreement with Gotham Green Partners (“GGP”) under the senior secured convertible credit facility (the “Convertible Facility”) (the “Fourth Amendment”) wherein the minimum liquidity covenant was waived until September 30, 2020 and resetting at $5,000,000 thereafter with incremental increases on March 31, 2021 and December 31, 2021. The payment-in-kind feature on the Convertible Facility was also extended, such that 100% of the cash interest due prior to June 2021 will be paid-in-kind and 50% of the cash interest due thereafter will be paid-in-kind. The Fourth Amendment released certain assets from its collateral to allow greater flexibility to generate proceeds through the sale of non-core assets. The Fourth Amendment allows for immediate prepayment of amounts under the Convertible Facility with a 5% prepayment penalty until 2nd anniversary of the Fourth Amendment and 3% prepayment penalty thereafter. As part of the Fourth Amendment, holders of notes under the Convertible Facility were provided down-round protection where issuances of equity interests (including securities that are convertible or exchangeable for equity interests) by the Company at less than the higher of (i) lowest conversion price under the amended and restated notes of the Convertible Facility amendment dated March 27, 2020 and (ii) the highest conversion price determined for any incremental advances, will automatically adjust the conversion/exercise price of the previous tranches and incremental tranche 4 warrants and the related replacement warrants to the price of the newly issued equity interests. Certain issuances of equity interests are exempted such as issuances to existing lenders, equity interests in contemplation at the time of Fourth Amendment and equity interests issued to employees, consultants, directors, advisors or other third parties, in exchange for goods and services or compensation. Pursuant to ASU 2017-11, the down-round protection was not considered a derivative and will be recognized when the down-round protection adjustments are triggered. As consideration for the amendment, the conversion price for 52% of the tranches 1 through 3 and the first amendment fee notes outstanding under the Convertible Facility were amended to $0.34 per share. An amendment fee of $2,000,000 was also paid through the issuance of additional notes at a conversion price of $0.28 per share. The Fourth Amendment to the Convertible Facility was deemed to be a substantial modification under ASC 470-50, “Modifications and Extinguishments,” On September 14, 2020, the Company closed on an incremental advance in the amount of $5,000,000 under its existing Convertible Facility with GGP at a conversion price of $0.20 per share. In connection with the incremental advance, the Company issued 25,000,000 warrants with an exercise price of $0.20 per share. In addition, 1,080,255 Existing warrants were cancelled and replaced with 16,875,001 warrants with an exercise price of $0.20 per share. Pursuant to the terms of the GGP Facility, the conversion price for 5.0% of the existing Notes outstanding prior to Tranche 4 and Incremental Advance (including paid-in-kind interest accrued on such Notes), being 5.0% of an aggregate principal amount of $170,729,923, was amended to $0.20 per share. As consideration for the additional advance, the Company issued convertible notes as consideration for a $468,564 fee with a conversion price of $0.20 per share. On September 16, 2020 and September 28, 2020, the down round feature on the convertible notes and warrants issued in connection with Tranche 4, Incremental Advances and certain amendment fees was triggered wherein the exercise price was adjusted to $0.17 and $0.15 per share, respectively. The value of the effect of the down round feature on convertible notes and warrants was determined to be $32,744,770 and $6,723,954, respectively, for the six months ended December 26, 2020. The effect related to convertible notes was recognized as additional debt discount and an increase in additional paid-in-capital. The effect related to warrants was recognized as a deemed distribution and an increase in additional paid-in capital. On November 1, 2020, the Company repaid $8,000,000 of borrowings under the Convertible Facility and recorded a loss $943,706 on the partial extinguishment of debt and is included in the net effect on equity component of new and amended debt in the reconciliation of the beginning and ending balances of senior secured convertible credit facility for the six months ended December 26, 2020.

SHAREHOLDERS EQUITY

SHAREHOLDERS EQUITY	6 Months Ended
	Dec. 26, 2020
MEZZANINE EQUITY:
Note 14. SHAREHOLDERS' EQUITY	Issued and Outstanding A reconciliation of the beginning and ending issued and outstanding shares is as follows: Subordinate Voting Super MM CAN USA Redeemable Units MM Enterprises USA Balance as of June 27, 2020 403,907,218 815,295 236,123,851 725,016 Cancellation of Super Voting Shares - (815,295 ) - - Shares Issued to Settle Accounts Payable and Liabilities 7,205,754 - - - Redemption of MedMen Corp Redeemable Shares 88,945,434 - (88,945,434 ) - Shares Issued for Vested Restricted Stock Units 7,173,256 - - - Shares Issued for Acquisition Costs 2,082,890 - - - Stock Grants for Compensation 3,001,282 - - - Balance as of December 26, 2020 512,315,834 - 147,178,417 725,016 Cancellation of Super Voting Shares Effective as of December 10, 2020, the Company cancelled the remaining 815,295 Class A Super Voting Shares that were granted via proxy to Benjamin Rose wherein no consideration was paid. The effect of the cancellation was recognized as a reduction in the mezzanine equity for the book value of $82,500 and the difference over the repurchase price of nil was recorded to additional paid-in capital. There was no effect on total shareholders’ equity as a result of this cancellation. As of December 26, 2020, there are no outstanding Class A Super Voting Shares. Non-Controlling Interests Non-controlling interest represents the net assets of the subsidiaries that the holders of the Subordinate Voting Shares do not directly own. The net assets of the non-controlling interest are represented by the holders of MM CAN USA Redeemable Shares and the holders of MM Enterprises USA Common Units. Non-controlling interest also represents the net assets of the entities the Company does not directly own but controls through a management agreement. As of December 26, 2020 and June 27, 2020, the holders of the MM CAN USA Redeemable Shares represent approximately 22.32% and 36.89%, respectively, of the Company and holders of the MM Enterprises USA Common Units represent approximately 0.11% and 0.11%, respectively, of the Company. Variable Interest Entities The below information are entities the Company has concluded to be variable interest entities (“VIEs”) as the Company possesses the power to direct activities through management services agreements (“MSAs”). Through these MSAs, the Company can significantly impact the VIEs and thus holds a controlling financial interest. The following table represents the summarized financial information about the Company’s consolidated VIEs. VIEs include the balances of LAX Fund II Group, LLC, Natures Cure, Inc. and Venice Caregiver Foundation, Inc. This information represents amounts before intercompany eliminations. As of and for the six months ended December 26, 2020, the balances of the VIEs before any intercompany eliminations consists of the following: Venice Caregivers Foundation, Inc. LAX Fund II Group, LLC Natures Cure, Inc. TOTAL Current Assets $ 772,010 $ (8,795,281 ) $ 10,407,949 $ 2,384,678 Non-Current Assets 13,461,338 3,129,112 5,002,478 21,592,928 Total Assets $ 14,233,348 $ (5,666,169 ) $ 15,410,427 $ 23,977,606 Current Liabilities $ 12,147,006 $ (566,336 ) $ 5,070,565 $ 16,651,235 Non-Current Liabilities 9,214,775 2,558,486 1,146,329 12,919,590 Total Liabilities $ 21,361,781 $ 1,992,150 $ 6,216,894 $ 29,570,825 Non-Controlling Interest $ (7,128,433 ) $ (7,658,319 ) $ 9,193,533 $ (5,593,219 ) Revenues $ 4,398,883 $ (823 ) $ 6,549,799 $ 10,947,859 Net Income (Loss) Attributable to Non-Controlling Interest $ (1,203,248 ) $ (1,587,992 ) $ 2,413,906 $ (377,334 ) As of and for the year ended June 27, 2020, the balances of the VIEs consists of the following: Venice Caregivers Foundation, Inc. LAX Fund II Group, LLC Natures Cure, Inc. TOTAL Current Assets $ 1,233,188 $ 811,025 $ 6,639,231 $ 8,683,444 Non-Current Assets 16,867,824 3,259,563 5,032,428 25,159,815 Total Assets $ 18,101,012 $ 4,070,588 $ 11,671,659 $ 33,843,259 Current Liabilities $ 12,831,161 $ 7,481,953 $ 3,745,710 $ 24,058,824 Non-Current Liabilities 11,196,585 2,662,078 1,146,322 15,004,985 Total Liabilities $ 24,027,746 $ 10,144,031 $ 4,892,032 $ 39,063,809 Non-Controlling Interest $ (5,926,734 ) $ (6,073,443 ) $ 6,779,627 $ (5,220,550 ) Revenues $ 10,949,458 $ - $ 13,976,810 $ 24,926,268 Net Income (Loss) Attributable to Non-Controlling Interest $ (6,132,528 ) $ (3,777,079 ) $ 3,143,437 $ (6,766,170 ) The net change in the consolidated VIEs and other non-controlling interest are as follows for the six months ended December 26, 2020: Venice Caregivers Foundation, Inc. LAX Fund II Group, LLC Natures Cure, Inc. Other Non- Controlling Interests TOTAL Balance as of June 27, 2020 $ (5,925,185 ) $ (6,070,327 ) $ 6,779,627 $ (331,561,812 ) $ (336,777,697 ) Net Income (Loss) (1,203,248 ) (1,587,992 ) 2,413,906 (29,715,662 ) (30,092,996 ) Equity Component on Debt and Debt Modification - - - 4,055,133 4,055,133 Deferred Tax Impact on Conversion Feature - - - (1,210,052 ) (1,210,052 ) Redemption of MedMen Corp Redeemable Shares - - - (48,580,443 ) (48,580,443 ) Balance as of December 26, 2020 $ (7,128,433 ) $ (7,658,319 ) $ 9,193,533 $ (407,012,836 ) $ (412,606,055 ) Le Cirque Rouge, LP (the Operating Partnership,” or the “OP”) is a Delaware limited partnership that holds substantially all of the real estate assets owned by the REIT, conducts the REIT’s operations, and is financed by the REIT. Under ASC 810, “Consolidation”, the OP was determined to be a variable interest entity in which the Company has a variable interest. The Company was determined to have an implicit variable interest in the OP based on the leasing relationship and arrangement with the REIT. The Company was not determined to be the primary beneficiary of the VIE as the Company does not have the power to direct the activities of the VIE that most significantly affect its economic performance. As of December 26, 2020, the Company continues to have a variable interest in the OP. During the six months ended December 26, 2020, the Company did not provide any financial or other support to the REIT other than the REIT being a lessor on various leases as described in “Note 11 – Leases”. Accordingly, Le Cirque Rouge, LP is not consolidated as a variable interest entity within the unaudited interim Condensed Consolidated Financial Statements.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Dec. 26, 2020
SHARE-BASED COMPENSATION
Note 15. SHARE-BASED COMPENSATION	The Company has a stock and equity incentive plan (the “Incentive Plan”) under which the Company may issue various types of equity instruments to any employee, officer, consultant, advisor or director. The types of equity instruments issuable under the Incentive Plan encompass, among other things, stock options, stock grants, deferred stock units, restricted stock grants, LTIP, P units and warrants (together, “Awards”). Stock based compensation expenses are recorded as a component of general and administrative to the extent that the Company has not appointed a Compensation Committee, all rights and obligations under the Incentive Plan shall be those of the full Board of Directors. The maximum number of Awards that may be issued under the Incentive Plan shall be determined by the Compensation Committee or the Board of Directors in the absence of a Compensation Committee. Any shares subject to an Award under the Incentive Plan that are forfeited, canceled, expire unexercised, are settled in cash, or are used or withheld to satisfy tax withholding obligations, shall again be available for Awards under the Incentive Plan. Vesting of Awards will be determined by the Compensation Committee or Board of Directors in absence of one. The exercise price for Awards (if applicable) will generally not be less than the fair market value of the Award at the time of grant and will generally expire after 10 years. A summary of share-based compensation expense for the three and six months ended December 26, 2020 and December 28, 2019 is as follows: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Stock Options $ 1,537,682 $ 967,231 $ 2,546,220 $ 2,654,504 LTIP Units - 479,528 - 1,313,059 Stock Grants for Services (60,357 ) 1,524,698 121,232 1,889,646 Restricted Stock Grants 279,909 1,130,018 437,386 2,810,643 Total Share-Based Compensation $ 1,757,234 $ 4,101,475 $ 3,104,838 $ 8,667,852 For the six months ended December 26, 2020 and December 28, 2019, the fair value of stock options granted with a fixed exercise price was determined using the Block-Scholes option-pricing model with the following assumptions at the time of grant: Six Months Ended December 26, December 28, 2020 2019 Weighted-Average Risk-Free Annual Interest Rate 1.05 % 1.70 % Weighted-Average Expected Annual Dividend Yield 0.0 % 0.0 % Weighted-Average Expected Stock Price Volatility 116.5 % 85.1 % Weighted-Average Expected Life in Years 7.50 7.50 Weighted-Average Estimated Forfeiture Rate 40.0 % 40.0 % Stock Options A reconciliation of the beginning and ending balance of stock options outstanding is as follows: Number of Stock Options Weighted-Average Exercise Price Number of Stock Options Exercisable Weighted-Average Exercise Price Balance as of June 27, 2020 8,618,204 $ 2.78 4,248,393 $ 2.78 Granted 7,318,669 $ 0.17 8,257,087 $ 0.36 Forfeited (1,051,917 ) $ (3.00 ) - $ - Balance as of December 26, 2020 14,884,956 $ 1.48 12,505,480 $ 1.42 The aggregate intrinsic value of options outstanding was nil at both December 26, 2020 and June 27, 2020. LTIP Units and LLC Redeemable Units A reconciliation of the beginning and ending balances of the LTIP Units and LLC Redeemable Units issued for compensation outstanding is as follows: Weighted LTIP Units LLC Average Issued and Redeemable Grant Date Outstanding Units Fair Value Balance as of June 27, 2020 and December 26, 2020 19,323,878 725,016 $ 0.52 Deferred Stock Units Effective December 10, 2019, the Company’s board of directors approved a Deferred Share Unit (“DSU”) award under the Company’s Incentive Plan. The DSU award was for units to the Company’s non-management directors. Each director will be provided the Company’s Subordinate Voting Shares based on the duration of their term as a director up to $250,000 for a year of service ending August 2020. As of December 26, 2020, and June 27, 2020, there was nil and 1,283,567 units issued and outstanding, respectively. For the three and six months ended December 26, 2020, compensation expense related to the DSU award was nil and nil, respectively, was included in accounts payable and stock-based compensation expense on the Company’s Condensed Consolidated Balance Sheets. As of December 26, 2020, the corresponding Subordinate Voting Share had been issued to the directors. A reconciliation of the beginning and ending balance of DSUs outstanding is as follows: Issued and Outstanding Weighted-Average Fair Value Balance as of June 27, 2020 1,283,567 $ 0.38 Settled (1,283,567 ) $ (0.38 ) Balance as of December 26, 2020 - $ - Restricted Stock Grants During the six months ended December 26, 2020, the Company granted an entitlement to 27,508,063 of restricted Subordinate Voting Shares to certain officers, directors and employees. A reconciliation of the beginning and ending balance of restricted stock grants outstanding is as follows: Issued and Outstanding Vested Weighted-Average Fair Value Balance as of June 27, 2020 7,159,164 192,459 $ 0.68 Granted (1) 27,508,063 - $ 0.16 Forfeiture of Restricted Stock (2) (2,156,155 ) - $ (0.15 ) Redemption of Vested Stock (7,173,258 ) (7,173,258 ) $ (0.18 ) Vesting of Restricted Stock - 7,584,358 $ 0.18 Balance as of December 26, 2020 25,337,814 603,559 $ 0.30 _____________________ (1) Issued on December 11, 2020 to certain officers and employees of the Company and vest 37.5%, 12.5%, 37.5%, 12.5% on the 1st, 2nd, 3rd and 4th anniversary, respectively. (2) 2,156,155 of the restricted stock grants were forfeited upon the resignation of certain employees prior to their vesting. Certain restricted stock granted has vesting which is based on market conditions. For restricted stock that have no market condition vesting, the fair value was determined using the trading value of the Subordinate Voting Shares on the date of grant. For the restricted stock that have market condition vesting, these shares were valued using a Monte Carlo simulation model taking into account the trading value of the Company’s Subordinate Voting Shares on the date of grant and into the future encompassing a wide range of possible future market conditions. During the six months ended December 26, 2020, there were no restricted stock grants with a market vesting condition. Warrants A reconciliation of the beginning and ending balance of warrants outstanding is as follows: Number of Warrants Outstanding Subordinate Voting Shares MedMen Corp Redeemable Shares Total Weighted-Average Exercise Price Balance as of June 27, 2020 114,998,915 40,455,731 155,454,646 $ 0.71 Issued 114,305,552 147,508,516 261,814,068 $ 0.18 Cancelled (1,080,226 ) (40,455,731 ) (41,535,957 ) $ (0.50 ) Balance as of December 26, 2020 228,224,241 147,508,516 375,732,757 $ 0.36 During the six months ended December 26, 2020, 40,455,726, 30,000,000 and 77,052,790 warrants were issued for MedMen Corp Redeemable Shares with an exercise price of $0.34, $0.20 and $0.20, respectively, and expire through October 30, 2025. Additionally, 41,875,000, 3,293,413, 3,500,000, 3,777,475, 3,592,326, 3,597,000 and 54,670,338 warrants were issued for Subordinate Voting Shares with an exercise price of $0.20, $0.21, $0.34, $0.17, $0.17, $0.18 and $0.15, respectively, and expire through July 2, 2025. The fair value of warrants exercisable for MedMen Corp Redeemable Shares was determined using the Black-Scholes option-pricing model with the following assumptions on the date of issuance: December 26, June 27 2020 2020 Weighted-Average Risk-Free Annual Interest Rate 0.13 % 2.20 % Weighted-Average Expected Annual Dividend Yield 0 % 0 % Weighted-Average Expected Stock Price Volatility 92.06 % 88.19 % Weighted-Average Expected Life of Warrants 1 year 1 year The fair value of warrants exercisable for the Company’s Subordinate Voting Shares was determined using the Black-Scholes option-pricing model with the following assumptions on the latest modification of December 17, 2020: Weighted-Average Risk-Free Annual Interest Rate 0.09 % Weighted-Average Expected Annual Dividend Yield 0 % Weighted-Average Expected Stock Price Volatility 91.82 % Weighted-Average Expected Life of Warrants 1 year Stock price volatility was estimated by using the historical volatility of the Company’s Subordinate Voting Shares and the average historical volatility of comparable companies from a representative peer group of publicly-traded cannabis companies. The expected life in years represents the period of time that warrants issued are expected to be outstanding. The risk-free rate was based on U.S. Treasury bills with a remaining term equal to the expected life of the warrants. 55,817,248 of warrants are cancelable if the Company meets certain cash flow metrics for six consecutive months. The effects of contingent cancellation feature were included in determining the fair value of the related warrants. As of December 26, 2020 and June 27, 2020, warrants outstanding have a weighted-average remaining contractual life of 4 and 4 years, respectively.

LOSS PER SHARE

LOSS PER SHARE	6 Months Ended
	Dec. 26, 2020
LOSS PER SHARE
Note 16. LOSS PER SHARE	The following is a reconciliation for the calculation of basic and diluted loss per share for the three and six months ended December 26, 2020 and December 28, 2019: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Net Loss from Continuing Operations Attributable to Shareholders of MedMen Enterprises, Inc. $ (50,897,250 ) $ (4,404,879 ) $ (70,134,937 ) $ (25,547,228 ) Less: Deemed Dividend - Down Round Feature of Warrants (1,480,716 ) - (6,364,183 ) - Net Loss from Continuing Operations Available to Shareholders of MedMen Enterprises, Inc. $ (52,377,966 ) $ (4,404,879 ) $ (76,499,120 ) $ (25,547,228 ) Net Income (Loss) from Discontinued Operations 1,201,766 (36,845,653 ) (1,480,409 ) (39,926,048 ) Total Net Loss $ (51,176,200 ) $ (41,250,532 ) $ (77,979,529 ) $ (65,473,276 ) Weighted-Average Shares Outstanding – Basic and Diluted 482,903,106 220,467,070 452,806,117 196,211,921 Loss Per Share - Basic and Diluted: From Continuing Operations Attributable to Shareholders of MedMen Enterprises Inc. $ (0.11 ) $ (0.02 ) $ (0.17 ) $ (0.13 ) From Discontinued Operations Attributable to Shareholders of MedMen Enterprises Inc. $ 0.00 $ (0.17 ) $ (0.00 ) $ (0.20 ) Diluted loss per share is the same as basic loss per share as the issuance of shares on the exercise of convertible debentures, LTIP share units, warrants and share options is anti-dilutive.

GENERAL AND ADMINISTRATIVE EXPE

GENERAL AND ADMINISTRATIVE EXPENSES	6 Months Ended
	Dec. 26, 2020
GENERAL AND ADMINISTRATIVE EXPENSES
Note 17. GENERAL AND ADMINISTRATIVE EXPENSES	The following is a reconciliation for the calculation of basic and diluted loss per share for the three and six months ended December 26, 2020 and December 28, 2019: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Net Loss from Continuing Operations Attributable to Shareholders of MedMen Enterprises, Inc. $ (50,897,250 ) $ (4,404,879 ) $ (70,134,937 ) $ (25,547,228 ) Less: Deemed Dividend - Down Round Feature of Warrants (1,480,716 ) - (6,364,183 ) - Net Loss from Continuing Operations Available to Shareholders of MedMen Enterprises, Inc. $ (52,377,966 ) $ (4,404,879 ) $ (76,499,120 ) $ (25,547,228 ) Net Income (Loss) from Discontinued Operations 1,201,766 (36,845,653 ) (1,480,409 ) (39,926,048 ) Total Net Loss $ (51,176,200 ) $ (41,250,532 ) $ (77,979,529 ) $ (65,473,276 ) Weighted-Average Shares Outstanding – Basic and Diluted 482,903,106 220,467,070 452,806,117 196,211,921 Loss Per Share - Basic and Diluted: From Continuing Operations Attributable to Shareholders of MedMen Enterprises Inc. $ (0.11 ) $ (0.02 ) $ (0.17 ) $ (0.13 ) From Discontinued Operations Attributable to Shareholders of MedMen Enterprises Inc. $ 0.00 $ (0.17 ) $ (0.00 ) $ (0.20 ) Diluted loss per share is the same as basic loss per share as the issuance of shares on the exercise of convertible debentures, LTIP share units, warrants and share options is anti-dilutive.

OTHER OPERATING EXPENSE

OTHER OPERATING EXPENSE	6 Months Ended
	Dec. 26, 2020
OTHER OPERATING EXPENSE
Note 18. OTHER OPERATING EXPENSE	During the three and six months ended December 26, 2020 and December 28, 2019, other operating expenses consisted of the following: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Loss on Disposals of Assets $ 527,944 $ 1,088,299 $ 384,577 $ 226,335 Restructuring and Reorganization Expense 591,488 5,284,661 1,180,410 5,636,590 Loss on Settlement of Accounts Payable 1,186,333 - 1,025,688 - Gain on Lease Terminations (1,279,533 ) (23,815 ) (17,908,817 ) (217,127 ) Other Income (250,336 ) (643,737 ) (603,823 ) (638,352 ) Total Other Operating Expense (Income) $ 775,896 $ 5,705,408 $ (15,921,965 ) $ 5,007,446

REALIZED AND UNREALIZED LOSS (G

REALIZED AND UNREALIZED LOSS (GAIN) ON INVESTMENTS AND ASSETS HELD FOR SALE	6 Months Ended
	Dec. 26, 2020
REALIZED AND UNREALIZED LOSS (GAIN) ON INVESTMENTS AND ASSETS HELD FOR SALE
Note 19. REALIZED AND UNREALIZED LOSS (GAIN) ON INVESTMENTS AND ASSETS HELD FOR SALE	During the three and six months ended December 26, 2020 and December 28, 2019, realized and unrealized loss (gain) on investments and assets held for sale consisted of the following: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Loss (Gain) on Assets Held for Sale $ 1,960,871 $ (3,000 ) $ (10,454,608 ) $ - Gain on Changes in Fair Value of Investments - (5,031,158 ) - (16,514,480 ) Total Realized and Unrealized Loss (Gain) on Investments and Assets Held for Sale $ 1,960,871 $ (5,034,158 ) $ (10,454,608 ) $ (16,514,480 )

PROVISION FOR INCOME TAXES AND

PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES	6 Months Ended
	Dec. 26, 2020
PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES
Note 20. PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES	The following table summarizes the Company’s income tax expense and effective tax rates for the three and six months ended December 26, 2020 and December 28, 2019: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Loss from Continuing Operations Before Provision for Income Taxes $ (46,092,236 ) $ (71,051,659 ) $ (65,918,902 ) $ (148,430,669 ) Income Tax (Expense) Benefit (23,970,469 ) 14,649,487 (34,309,031 ) 32,310,218 Effective Tax Rate (52.04 )% 20.87 % (52.04 )% 20.87 % Historically, the Company has computed its provision for income taxes under the discrete method which treats the year-to-date period as if it were the annual period and determines the income tax expense or benefit on that basis. For the three and six months ended December 26, 2020, the Company has calculated its provision for income taxes during its interim reporting periods by applying an estimate of the annual effective tax rate for the full year “ordinary” income or loss for the respective reporting period. Historically, the discrete method was applied due to the reliability of the estimate the annual effective tax rate. The Company believes that, at this time, the use of the estimated annual tax rate is more appropriate under FASB Interpretation No. 18 an interpretation of APB Opinion No. 28 than the discrete method given the Company’s utilization of its forecast. As the Company operates in the legal cannabis industry, the Company is subject to the limits of IRC Section 280E for U.S. federal, Illinois state, Florida state and New York state income tax purposes under which the Company is only allowed to deduct expenses directly related to sales of product. This results in permanent differences between ordinary and necessary business expenses deemed non-allowable under IRC Section 280E. However, the State of California does not conform to IRC Section 280E and, accordingly, the Company deducts all operating expenses on its California Franchise Tax Returns. Since IRC Section 280E was not applied in the California Franchise Tax returns, the Company has approximately $76,700,000 of gross California net operating losses which begin expiring in 2038 as of June 27, 2020. The Company has evaluated the realization of its California net operating loss tax attribute and has determined under the more likely than not standard that $2,500,000 will not be realized. The effective tax rate for the three and six months ended December 26, 2020 varies widely from the three and six months ended December 28, 2019, respectively, primarily due to the Company reporting increased expenses subject to IRC Section 280E relative to pre-tax book loss. The Company incurred a large amount of expenses that were not deductible due to IRC Section 280E limitations which resulted in income tax expense being incurred while there were pre-tax losses for the three months ended September 2020. The federal statute of limitation remains open for the 2017 tax year to the present. The state income tax returns generally remain open for the 2016 tax year through the present. Net operating losses arising prior to these years are also open to examination if and when utilized.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Dec. 26, 2020
COMMITMENTS AND CONTINGENCIES
Note 21. COMMITMENTS AND CONTINGENCIES	Contingencies The Company’s operations are subject to a variety of local and state regulations. Failure to comply with one or more of these regulations could result in fines, restrictions on its operations, or losses of permits that could result in the Company ceasing operations. While management of the Company believes that the Company is in compliance with applicable local and state regulations as of December 26, 2020 and June 27, 2020, marijuana regulations continue to evolve and are subject to differing interpretations. As a result, the Company may be subject to regulatory fines, penalties or restrictions in the future. Claims and Litigation From time to time, the Company may be involved in litigation relating to claims arising out of operations in the normal course of business. As of December 26, 2020, there were no pending or threatening lawsuits that could be reasonably assessed to have resulted in a probable loss to the Company in an amount that can be reasonably estimated. As such, no accrual has been made in the Consolidated Financial Statements relating to claims and litigations. As of December 26, 2020, there are also no proceedings in which any of the Company’s directors, officers or affiliates is an adverse party to the Company or has a material interest adverse to the Company’s interest. In July 2018, a legal claim was filed against the Company related to alleged misrepresentations in respect of a financing transaction completed in May 2018. The claimant is seeking damages of approximately $2,200,000. The Company believes the likelihood of a loss contingency is remote. As a result, no amount has been set up for potential damages in these financial statements. In late January 2019, the Company’s former Chief Financial Officer (“CFO”) filed a complaint against MM Enterprises in the Superior Court of California, County of Los Angeles, seeking damages for claims relating to his employment. The Company is currently defending against this lawsuit, which seeks damages for wrongful termination, breach of contract, and breach of implied covenant of good faith. The former CFO’s employment agreement provided for the payment of severance in the event of termination without cause. The Company disputes the claims set forth in this lawsuit and believes that the outcome is neither probable nor estimable; therefore, no amounts have been accrued in relation to the claim in these financial statements. In March 2020, litigation was filed against the Company related to a purchase agreement for a previous acquisition. The Company is currently defending against this lawsuit, which seeks damages for fraudulent inducement and breach of contract. The Company believes the likelihood of a loss contingency is neither probable nor remote and the amount cannot be estimated reliably. As such, no amount has been accrued in these financial statements. In May 2020, litigation was filed against the Company related to a purchase agreement and secured promissory note for a previous acquisition. The Company is currently defending against this lawsuit, which claims for breach of contract, breach of implied covenant of good faith and fair dealing, common law fraud and securities fraud. The plaintiffs are seeking damages for such claims in which the amount is currently not reasonably estimable. Therefore, pursuant to ASC 450, “ Contingencies Note 24 – Discontinued Operations Note 12 – Notes Payable In September 2020, a legal dispute was filed against the Company related to the separation of a former officer in which the severance issued is currently being disputed. The Company believes the likelihood of loss is remote. As a result, no amount has been set up for potential damages in these financial statements. In February 2020, a legal dispute was filed against the Company and settled in December 2020 for approximately $2,400,000. As of December 26, 2020, the remaining amount has been accrued in the Consolidated Balance Sheet.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Dec. 26, 2020
RELATED PARTY TRANSACTIONS
Note 22. RELATED PARTY TRANSACTIONS	All related party balances due from or due to the Company as of December 26, 2020 and June 27, 2020 did not have any formal contractual agreements regarding payment terms or interest. As of December 26, 2020 and June 27, 2020, amounts due from related parties were as follows: December 26, June 27, Name and Relationship to Company Transaction 2020 2020 MMOF GP II, LLC (“Fund LP II”), an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 27.1% of indirect equity interest in Fund LP II, the General Partner of Fund II, which both hold equity interests in a subsidiary of the Company. (1) Management Fees $ 1,820,204 $ 1,820,204 MedMen Opportunity Fund GP, LLC (“Fund LP”), an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 24.2% of indirect equity interest in Fund LP, the General Partner of Fund I, which both hold equity interests in a subsidiary of the Company. (1) Management Fees 1,289,513 1,289,513 Total Amounts Due from Related Parties $ 3,109,717 $ 3,109,717 ___________________ (1) As of February 2020 and May 2020, Mr. Adam Bierman and Mr. Andrew Modlin, respectively, no longer held board or management positions and therefore as of December 26, 2020 are not related parties, however they were during the fiscal year ended June 27, 2020. As of November 2020, Chris Ganan was no longer a member of the Company’s board of directors and therefore is not considered a related party under ASC 850, “Related Party Disclosures” as of December 26, 2020, however Mr. Ganan was a related party during the fiscal year ended June 27, 2020. As of December 26, 2020 and June 27, 2020, amounts due to related parties were as follows: December 26, June 27, Name and Relationship to Company Transaction 2020 2020 Fund LP II, an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 27.1% of indirect equity interest in Fund LP II, the General Partner of Fund II, which both hold equity interests in a subsidiary of the Company. (1) Working Capital, Construction and Tenant Improvements, Lease Deposits and Cash Used for Acquisitions $ (1,093,896 ) $ (1,093,896 ) Fund LP, an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 24.2% of indirect equity interest in Fund LP, the General Partner of Fund I, which both hold equity interests in a subsidiary of the Company. (1) Working Capital, Management Fees and Cash Used for Acquisitions (1,986,697 ) (1,986,697 ) Other (1,294,134 ) (1,476,221 ) Total Amounts Due to Related Parties $ (4,374,727 ) $ (4,556,814 ) _____________________ (1) As of February 2020 and May 2020, Mr. Adam Bierman and Mr. Andrew Modlin, respectively, no longer held board or management positions and therefore as of December 26, 2020 are not related parties, however they were during the fiscal year ended June 27, 2020. As of November 2020, Chris Ganan was no longer a member of the Company’s board of directors and therefore is not considered a related party under ASC 850, “Related Party Disclosures” as of December 26, 2020, however Mr. Ganan was a related party during the fiscal year ended June 27, 2020. On December 11, 2019, the Company announced that Benjamin Rose, the previous Executive Chairman of the Board, was granted a limited proxy of 815,295 Class A Super Voting Shares, which represents 50% of the total Class A Super Voting Shares, for a period of one year. As a result of the proxy, Mr. Rose had joint control of the Company and was a related party under ASC 850, “Related Party Disclosures” Note 14 – Shareholders’ Equity Pursuant to the Side Letter executed on October 29, 2019 in conjunction with the second amendment of the Convertible Facility with GGP, Wicklow Capital and GGP have the right to nominate a majority of the Company’s Board of Directors while the aggregate principal amount outstanding under the Convertible Facility is more than $25,000,000. The ability to elect the majority of the Company’s Board of Directors meets the definition of control under ASC 850, “Related Party Disclosures” As of December 26, 2020, the Company determined GGP to be a related party as a result of GGP having significant influence over the Company. See “Note 13 – Senior Secured Convertible Credit Facility” In March 2020, the Company entered into restructuring plan and retained interim management and advisory firm, Sierra Constellation Partners (“SCP”). As part of the engagement, Tom Lynch was appointed as Interim Chief Executive Officer and Chief Restructuring Officer, and Tim Bossidy was appointed as Interim Chief Operating Officer. Mr. Lynch is a Partner and Senior Managing Director at SCP. Mr. Bossidy is a Director at SCP. In December 2020, Mr. Lynch was elected as Chairman of the Board and Reece Fulgham, a Managing Director at SCP, was appointed as Interim Chief Financial Officer. During the six months ended December 26, 2020, the Company had paid $844,042 in fees to SCP for interim management and restructuring support. During the six months ended December 26, 2020, Mr. Lynch and Mr. Bossidy each received 124,868 stock options. The Company’s Board of Directors each receive quarterly fees of $200,000 of which one-third is paid in cash and two-thirds is paid in Class B Subordinate Voting Shares. The Class B Subordinate Voting Shares is recorded as a restricted stock unit until settled.

SEGMENTED INFORMATION

SEGMENTED INFORMATION	6 Months Ended
	Dec. 26, 2020
Note 23. SEGMENTED INFORMATION	The Company currently operates in one segment, the production and sale of cannabis products, which is how the Company’s Chief Operating Decision Maker manages the business and makes operating decisions. The Company’s cultivation operations are not considered significant to the overall operations of the Company. Intercompany sales and transactions are eliminated in consolidation.

DISCONTINUED OPERATIONS

DISCONTINUED OPERATIONS	6 Months Ended
	Dec. 26, 2020
DISCONTINUED OPERATIONS
Note 24. DISCONTINUED OPERATIONS	During the six months ended December 26, 2020, the Company contemplated the divesture of non-core assets and management entered into a plan to sell its operations in the state of Arizona. Consequently, assets and liabilities allocable to the operations within the state of Arizona were classified as a disposal group. The assets associated with the Arizona disposal group have been measured at the lower of its carrying amount or FVLCTS. Revenue and expenses, gains or losses relating to the discontinuation of Arizona operations have been eliminated from profit or loss from the Company’s continuing operations and are shown as a single line item in the Condensed Consolidated Statements of Operations. During the fiscal year ended June 27, 2020, the Company began separate negotiations to sell its operations in the state of Arizona, including the related management entities. In October 2020, Kannaboost Technology Inc. and CSI Solutions LLC (collectively referred to as “Level Up”) was sold at auction for a total sales price of $25,150,000, of which the Company has not received the proceeds as of December 26, 2020. Refer to “ Note 21 - Commitments and Contingencies Note 21 – Commitments and Contingencies For the six months ended December 26, 2020, net loss from discontinued operations does not include revenue and expenses and gains or losses from Level Up as a result of the deconsolidation in November 2020. Net operating loss of the discontinued operations and the gain or loss from re-measurement of assets and liabilities classified as held for sale are summarized as follows: Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Revenue $ 1,741,505 $ 4,276,771 $ 3,341,495 $ 8,581,520 Cost of Goods Sold 1,223,372 2,054,833 2,492,124 5,935,439 Gross Profit 518,133 2,221,938 849,371 2,646,081 Expenses: General and Administrative 718,101 1,961,132 1,694,712 3,784,884 Sales and Marketing 10,600 42,057 17,101 43,005 Depreciation and Amortization 32,060 662,393 81,202 1,161,721 Impairment Expense - 46,702,659 - 46,702,659 Total Expenses 760,761 49,368,241 1,793,015 51,692,269 Loss from Operations (242,628 ) (47,146,303 ) (943,644 ) (49,046,188 ) Other Expense (Income): Other Expense (34,391 ) 232 2,665 5,592 Total Other Expense (34,391 ) 232 2,665 5,592 Loss on Discontinued Operations Before Provision for Income Taxes (208,237 ) (47,146,535 ) (946,309 ) (49,051,780 ) Provision for Income Tax Benefit (Expense) 1,410,003 10,300,882 (534,100 ) 9,125,732 Income (Loss) on Discontinued Operations $ 1,201,766 $ (36,845,653 ) $ (1,480,409 ) $ (39,926,048 ) The carrying amounts of assets and liabilities in the disposal group are summarized as follows: December 26, June 27, 2020 2020 Carrying Amounts of the Assets Included in Discontinued Operations: Cash and Cash Equivalents $ 148,106 $ 522,966 Accounts Receivable 386,391 274,886 Prepaid Expenses 124,262 74,622 Inventory 1,663,909 3,323,978 Other Current Assets 48,736 64,600 TOTAL CURRENT ASSETS (1) Property and Equipment, Net 2,548,041 4,288,808 Operating Lease Right-of-Use Assets 4,998,953 5,257,327 Intangible Assets, Net 3,756,780 7,260,288 Other Assets 4,860 113,576 TOTAL NON-CURRENT ASSETS (1) TOTAL ASSETS OF THE DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE $ 13,680,038 $ 21,181,051 Carrying Amounts of the Liabilities Included in Discontinued Operations: Accounts Payable and Accrued Liabilities $ 1,069,500 $ 2,126,162 Income Taxes Payable 1,803,056 946,679 Other Current Liabilities 13,015 22,748 Current Portion of Operating Lease Liabilities 173,929 385,699 TOTAL CURRENT LIABILITIES (1) Operating Lease Liabilities, Net of Current Portion 4,941,099 5,300,936 Deferred Tax Liabilities 1,325,032 6,278,079 TOTAL NON-CURRENT LIABILITIES (1) TOTAL LIABILITIES OF THE DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE $ 9,325,631 $ 15,060,303 _____________________ (1) The assets and liabilities of the disposal group classified as held for sale are classified as current on the Condensed Consolidated Balance Sheets as of December 26, 2020 because it is probable that the sale will occur and proceeds will be collected within one year.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Dec. 26, 2020
SUBSEQUENT EVENTS
Note 25. SUBSEQUENT EVENTS	The Company has evaluated subsequent events through February 16, 2021, which is the date these unaudited interim Condensed Consolidated Financial Statements were issued, and has concluded that the following subsequent events have occurred that would require recognition in the Condensed Consolidated Financial Statements or disclosure in the notes to the Condensed Consolidated Financial Statements. Senior Secured Convertible Credit Facility On January 11, 2021, the Company amended and restated the securities purchase agreement under the GGP Convertible Facility (the “Fifth Amendment”) in which the Company received an additional advance of $10,000,000 evidenced by the issuance of senior secured convertible notes with a conversion price of $0.16 per Subordinate Voting Share. In connection with the Fifth Amendment, the Company paid a fee to the Lenders of $937,127 evidenced by the issuance of senior secured convertible notes with a conversion price of $0.16 per Subordinate voting Share. The Company also issued 62,174,567 warrants exercisable for five years at a purchase price of $0.16 per Subordinate Voting Share. The notes, restatement fee notes and warrants are subject to down round adjustment provisions, with certain exceptions, if the Company issues securities at a lower price. Pursuant to the terms of the Fifth Amendment, of the $168,100,000 senior secured convertible notes outstanding prior to Tranche 4 and the Incremental Advances thereunder (including paid-in-kind interest accrued on such notes), the conversion price of $47,100,000 of the notes was changed to $0.17 per Share, of which $16,800,000 of the notes will continue to be subject to down round adjustment provisions. In addition, the Company cancelled an aggregate of 2,160,507 warrants that were issued with such notes and, in exchange, issued 41,967,832 warrants with an exercise price of $0.16 per Subordinate Voting Share. The GGP Facility was also amended to, among other things, modify the minimum liquidity covenant, which extends the period during which it is waived from December 31, 2020 to June 30, 2021, reset the minimum liquidity threshold to $7,500,000 effective on July 1, 2021 through December 31, 2021, and $15,000,000 thereafter, and waiver of the minimum liquidity covenant if the Company is current on cash interest. Furthermore, covenants with regards to non-operating leases, capital expenditures and corporate SG&A will now be tied to a board of directors approved budget. Unsecured Convertible Facility On January 29, 2021, the Company closed on a fifth tranche of $1,000,000 under its existing unsecured convertible facility with a conversion price of $0.16 per Subordinate Voting Share. In connection with the fifth tranche, the Company issued 3,355,000 warrants with an exercise price of $0.19 per share. Private Placement On February 16, 2021, the Company executed documents for the sale of 7,800,000 units at a purchase price of $0.37 per unit through a private placement for gross proceeds of $2,896,315. The units consist of 7,800,000 Subordinate Voting Shares and 7,800,000 warrants with an exercise price of $0.46 per Subordinate Voting Share for a period of five years.

RECLASSIFICATIONS

RECLASSIFICATIONS	6 Months Ended
	Dec. 26, 2020
Note 26. RECLASSIFICATIONS	Certain comparative amounts have been reclassified to conform with current period presentation.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Dec. 26, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Basis of Preparation	The accompanying unaudited interim Condensed Consolidated Financial Statements have been prepared on a going concern basis in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the rules and regulations of the Securities and Exchange Commission (“SEC”). The unaudited interim Condensed Consolidated Financial Statements include the accounts of MedMen Enterprises, its subsidiaries and variable interest entities (“VIEs”) where the Company is considered the primary beneficiary, if any, after elimination of intercompany accounts and transactions. Investments in entities in which the Company has significant influence, but less than a controlling financial interest, are accounted for using the equity method. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) considered necessary for a fair presentation of the consolidated financial position of the Company as of December 26, 2020 and June 27, 2020, the consolidated results of operations for the three and six months ended December 26, 2020 and December 28, 2019, and the consolidated statements of cash flows for the six months ended December 26, 2020 and December 28, 2019 have been included. The accompanying unaudited interim Condensed Consolidated Financial Statements do not include all of the information required for full annual financial statements. Accordingly, certain information, footnotes and disclosures normally included in the annual financial statements, prepared in accordance with GAAP, have been condensed or omitted in accordance with SEC rules and regulations within the instruction to Form 10-Q and Article 10 of Regulation S-X. The financial data presented herein should be read in conjunction with the audited Consolidated Financial Statements and accompanying notes included in Item 13 of the registration statement on Form 10 for the fiscal year ended June 27, 2020.
Going Concern	As reflected in the Condensed Consolidated Financial Statements, the Company had an accumulated deficit and a negative net working capital (current liabilities greater than current assets) as of December 26, 2020, as well as a net loss and negative cash flow from operating activities for the reporting period then ended. These factors raise substantial doubt about the Company’s ability to continue as a going concern for at least one year from the issuance of these unaudited interim Condensed Consolidated Financial Statements. Management believes that substantial doubt of our ability to meet our obligations for the next twelve months from the date these financial statements were first made available has been alleviated due to, but not limited to, (i) capital raised between February 2021 and February 2022, (ii) restructuring plans that have already been put in place to reduce corporate-level expenses, (iii) debt amendments that have been agreed to with lenders and landlords to defer cash interest and rent payments, (iv) reduction in capital expenditures through a slow-down in new store buildouts, (v) plans to divest non-core assets to raise non-dilutive capital, (vi) enhancements to its digital offering, including direct-to-consumer delivery and curbside pick-up in light of COVID-19 and (vii) a change in retail strategy to pass certain local taxes and payment processing fees to customers. However, management cannot provide any assurances that we will be successful in accomplishing any of our plans. Management also cannot provide any assurance as to unforeseen circumstances that could occur at any time within the next twelve months or thereafter which could increase our need to raise additional capital on an immediate basis. The Company will continually monitor its capital requirements based on its capital and operational needs and the economic environment and may raise new capital as necessary. The Company’s ability to continue as a going concern will depend on its ability to raise additional equity or debt in the private or public markets, reducing operating expenses, divesting of certain non-core assets, achieving cash flow profitability. While the Company has been successful in raising equity and debt to date, there can be no assurances that the Company will be successful in completing a financing in the future. If the Company is unable to raise additional capital whenever necessary, it may be forced to divest additional assets to raise capital and/or pay down its debt, amend its debt agreements which could potentially have a dilutive effect on the Company’s shareholders, further reduce operating expenses and temporarily pause the opening of new store locations. Furthermore, COVID-19 and the impact the global pandemic has had and will continue to have on the broader retail environment could also have a significant impact on the Company’s financial operations.
COVID-19	The COVID-19 pandemic promoted unparalleled procedures from governments and businesses such as restrictions on travel and business operations, temporary closures of businesses, and quarantine and shelter-in-place orders. During the current reporting period, aspects of the Company’s business continue to be affected by the COVID-19 pandemic, with the Company’s offices and retail stores operating within local rules and regulations. While the ultimate severity of the outbreak and its impact on the economic environment is uncertain, the Company is monitoring this closely. In the event that the Company were to experience widespread transmission of the virus at one or more of the Company’s store or other facilities, the Company could suffer reputational harm or other potential liability. Further, the Company’s business operations may be materially and adversely affected if a significant number of the Company’s employees are impacted by the virus.
Emerging Growth Company	The Company is an emerging growth company as defined in the Jumpstart Our Business Startups Act (the “JOBS Act”) under which emerging growth companies can delay adopting new or revised accounting standards until such time as those standards apply to private companies.
Functional Currency	The Company and its subsidiaries’ functional currency, as determined by management, is the United States (“U.S.”) dollar. These unaudited interim Condensed Consolidated Financial Statements are presented in U.S. dollars as this is the primary economic environment of the group. All references to “C$” refer to Canadian dollars.
Significant Accounting Policies	The significant accounting policies and critical estimates applied by the Company in these unaudited interim Condensed Consolidated Financial Statements are the same as those applied in the Company’s audited Consolidated Financial Statements and accompanying notes included in Item 13 of the registration statement on Form 10 for the fiscal year ended June 27, 2020, unless otherwise disclosed in these accompanying notes to the Condensed Consolidated Financial Statements for the six months ended December 26, 2020.
Restricted Cash	Restricted cash balances are those which meet the definition of cash and cash equivalents but are not available for use by the Company. As of December 26, 2020 and June 27, 2020, restricted cash was $6,010 and $9,873, respectively, which is used to pay for lease costs and costs incurred related to building construction in Reno, Nevada. This account is managed by a contractor and the Company is required to maintain a certain minimum balance.
Down-Round Provisions	The Company calculates down-round features under Accounting Standards Update (“ASU”) No. 2017-11, “Earnings Per Share (Topic 260); Distinguishing Liabilities from Equity (Topic 480); Derivatives and Hedging (Topic 815): (Part I) Accounting for Certain Financial Instruments with Down Round Features”
Loss per Share	The Company calculates basic loss per share by dividing net loss by the weighted-average number of common shares outstanding during the period. Diluted loss per share is determined by adjusting profit or loss attributable to common shareholders and the weighted-average number of common shares outstanding, for the effects of all dilutive potential common shares, which comprise convertible debentures, DSU, RSU, warrants and stock options issued.
Recently Adopted Accounting Standards	In June 2016, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2016-13, “Financial Instruments - Credit Losses (Topic 326) Measurement of Credit Losses on Financial Instruments” In January 2017, the FASB issued ASU No. 2017-04 “Intangibles— Goodwill and Other (Topic 350): Simplifying the Test for Goodwill Impairment” In August 2018, the FASB issued ASU 2018-13, “ Fair Value Measurement (Topic 820): Disclosure Framework—Changes to the Disclosure Requirements for Fair Value Measurement
Recently Issued Accounting Standards	In December 2019, the FASB issued ASU 2019-12, “Simplifying the Accounting for Income Taxes (Topic 740)”, In January 2020, the FASB issued ASU 2020-01, “ Investments – Equity Securities (Topic 321) Investments – Equity Method and Joint Ventures (Topic 323) Derivatives and Hedging (Topic 815) In August 2020, the FASB issued ASU 2020-06, “ Debt – Debt with Conversion and Other Options (Subtopic 470-20) Derivatives and Hedging-Contracts in Entity’s Own Equity (Subtopic 815-40): Accounting for Convertible instruments and contracts in an Entity’s Own Equity

INVENTORY (Tables)

INVENTORY (Tables)	6 Months Ended
	Dec. 26, 2020
INVENTORIES
Schedule of inventories	December 26, June 27, 2020 2020 Raw Materials $ 3,326,636 $ 2,055,500 Work-in-Process 9,173,021 8,807,137 Finished Goods 12,996,215 11,775,483 Total Inventory $ 25,495,872 $ 22,638,120

OTHER CURRENT ASSETS (Tables)

OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Dec. 26, 2020
OTHER CURRENT ASSETS
Schedule of Other current assets	December 26, June 27, 2020 2020 Investments $ 3,036,791 $ 3,786,791 Excise Tax Receivable - 5,254,595 Note Receivable (1) 2,549,302 - Other Current Assets 147,589 64,071 Total Other Current Assets $ 5,733,682 $ 9,105,457
Schedule of Investments	ToroVerde Inc. (1) The Hacienda Company, LLC (2) Old Pal (3) Other Investments TOTAL Fair Value as of June 27, 2020 $ - $ 750,000 $ 1,970,000 $ 1,066,791 $ 3,786,791 Settlement of Liabilities - (750,000 ) - - (750,000 ) Fair Value as of December 26, 2020 $ - $ - $ 1,970,000 $ 1,066,791 $ 3,036,791

ASSETS HELD FOR SALE (Tables)

ASSETS HELD FOR SALE (Tables)	6 Months Ended
	Dec. 26, 2020
ASSETS HELD FOR SALE
Schedule of asset held for sale	PharmaCann Assets (1) Available for Sale Subsidiaries (2) Discontinued Operations (3) TOTAL Balance at Beginning of Period $ 212,400 $ 12,066,428 $ 21,181,051 $ 33,459,879 Transferred In - 6,614,987 - 6,614,987 Gain on the Sale of Assets Held for Sale - 10,454,608 - 10,454,608 Proceeds from Sale - (20,907,879 ) - (20,907,879 ) Ongoing Activity from Discontinued Operations - (1,621,372 ) (7,501,013 ) (9,122,385 ) Balance at End of Period $ 212,400 $ 6,606,772 $ 13,680,038 $ 20,499,209
Schedule of discontinued operations	December 26, June 27, 2020 2020 Carrying Amounts of the Assets Included in Assets Held for Sale: Cash and Cash Equivalents $ - $ 743,271 Prepaid Expenses 103 7,798 Inventory - 520,464 Other Current Assets - 81,427 TOTAL CURRENT ASSETS (1) Property and Equipment, Net 166,657 717,952 Operating Lease Right-of-Use Assets 965,558 190,986 Intangible Assets, Net 5,474,454 5,227,288 Goodwill - 4,577,242 TOTAL NON-CURRENT ASSETS (1) TOTAL ASSETS OF SUBSIDIARIES CLASSIFIED AS HELD FOR SALE $ 6,606,772 $ 12,066,428 Carrying Amounts of the Liabilities Included in Assets Held for Sale: Accounts Payable and Accrued Liabilities $ 10,698 $ 963,255 Income Taxes Payable - 159,053 Other Current Liabilities - 27,854 Current Portion of Operating Lease Liabilities 272,119 - TOTAL CURRENT LIABILITIES (1) Operating Lease Liabilities, Net of Current Portion 965,592 296,694 Deferred Tax Liabilities 1,793,659 2,151,879 TOTAL NON-CURRENT LIABILITIES (1) TOTAL LIABILITIES OF SUBSIDIARIES CLASSIFIED AS HELD FOR SALE $ 3,042,068 $ 3,598,735

PROPERTY AND EQUIPMENT (Tables)

PROPERTY AND EQUIPMENT (Tables)	6 Months Ended
	Dec. 26, 2020
PROPERTY AND EQUIPMENT
Schedule of property and equipment	December 26, June 27, 2020 2020 Land and Buildings $ 37,421,326 $ 37,400,378 Finance Lease Right-of-Use Assets 12,650,946 26,194,566 Furniture and Fixtures 14,042,105 13,970,449 Leasehold Improvements 67,534,535 63,976,372 Equipment and Software 29,700,665 29,277,120 Construction in Progress 36,404,721 38,470,016 Total Property and Equipment 197,754,298 209,288,901 Less Accumulated Depreciation (45,327,125 ) (34,741,034 ) Property and Equipment, Net $ 152,427,173 $ 174,547,867

INTANGIBLE ASSETS (Tables)

INTANGIBLE ASSETS (Tables)	6 Months Ended
	Dec. 26, 2020
INTANGIBLE ASSETS
Schedule of Intangible assets	December 26, June 27, 2020 2020 Dispensary Licenses $ 133,053,216 $ 139,736,881 Customer Relationships 18,586,200 18,586,200 Management Agreement 7,594,937 7,594,937 Capitalized Software 9,343,352 9,255,026 Intellectual Property 7,850,517 8,520,121 Total Intangible Assets 176,428,222 183,693,165 Dispensary Licenses (23,064,894 ) (19,162,587 ) Customer Relationships (13,407,729 ) (8,113,913 ) Management Agreement (665,276 ) (565,972 ) Capitalized Software (3,462,896 ) (2,273,432 ) Intellectual Property (2,246,961 ) (5,496,231 ) Less Accumulated Amortization (42,847,756 ) (35,612,135 ) Intangible Assets, Net $ 133,580,466 $ 148,081,030

OTHER ASSETS (Tables)

OTHER ASSETS (Tables)	6 Months Ended
	Dec. 26, 2020
OTHER ASSETS
Schedule of Other assets	December 26, June 27, 2020 2020 Long-Term Security Deposits for Leases $ 9,271,565 $ 9,752,611 Loans and Other Long-Term Deposits 7,769,757 7,568,738 Other Assets 96,595 53,648 Total Other Assets $ 17,137,917 $ 17,374,997

ACCOUNTS PAYABLE AND ACCRUED _2

ACCOUNTS PAYABLE AND ACCRUED LIABILTIES (Tables)	6 Months Ended
	Dec. 26, 2020
ACCOUNTS PAYABLE AND ACCRUED LIABILITIES
Schedule of accounts payable and accrued liabilities	December 26, June 27, 2020 2020 Accounts Payable $ 57,692,382 $ 58,614,619 Accrued Liabilities 13,234,560 10,532,715 Other Accrued Liabilities 9,708,487 10,383,596 Total Accounts Payable and Accrued Liabilities $ 80,635,429 $ 79,530,930

OTHER CURRENT LIABILITIES (Tabl

OTHER CURRENT LIABILITIES (Tables)	6 Months Ended
	Dec. 26, 2020
OTHER CURRENT LIABILITIES
Schedule of other current liabilities	December 26, June 27, 2020 2020 Accrued Interest Payable $ 1,857,304 $ 9,051,650 Contingent Consideration 87,893 8,951,801 Derivatives 418,576 546,076 Other Current Liabilities 11,098,390 1,728,854 Total Other Current Liabilities $ 13,462,163 $ 20,278,381
Schedule of fair value of derivative liabilities	December 26, 2020 Balance at Beginning of Period $ 546,076 Change in Fair Value of Derivative Liabilities (127,500 ) Balance at End of Period $ 418,576

LEASES (Tables)

LEASES (Tables)	6 Months Ended
	Dec. 26, 2020
LEASES
Schedule of lease cost	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Finance Lease Cost: Amortization of Finance Lease Right-of-Use Assets $ 83,426 $ 546,157 $ 397,569 $ 2,616,924 Interest on Lease Liabilities 460,297 1,549,769 1,984,118 2,982,699 Operating Lease Cost 8,034,052 7,978,593 15,692,972 14,964,892 Total Lease Expenses $ 8,577,775 $ 10,074,519 $ 18,074,659 $ 20,564,515 2020 2019 2020 2019 Gain on Sale and Leaseback Transactions, Net $ - $ - $ - $ (704,207 ) Cash Paid for Amounts Included in the Measurement of Lease Liabilities: Financing Cash Flows from Finance Leases $ - $ 297,588 $ 39,880 $ 297,588 Operating Cash Flows from Operating Leases $ 6,918,798 $ 10,157,732 $ 16,077,196 $ 17,329,775 Non-Cash Additions to Right-of-Use Assets and Lease Liabilities: Recognition of Right-of-Use Assets for Finance Leases $ - $ 2,937,513 $ 350,249 $ 45,614,041 Recognition of Right-of-Use Assets for Operating Leases $ - $ 20,993,959 $ - $ 162,551,190
Schedule of Future lease payments	Fiscal Year Ending Operating Leases Finance Leases June 26, 2021 $ 14,166,912 $ 2,388,782 June 25, 2022 28,762,223 5,344,591 June 24, 2023 28,896,785 5,504,327 June 29, 2024 33,130,642 9,880,306 June 28, 2025 40,475,748 6,542,077 December 27, 2026 and Thereafter 109,374,556 1,076,344,422 Total Lease Payments 254,806,866 1,106,004,505 Less Interest (132,713,189 ) (1,077,756,509 ) Present Value of Lease Liability $ 122,093,677 $ 28,247,996

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Dec. 26, 2020
NOTES PAYABLE
Schedule of notes payable	December 26, June 27, 2020 2020 Financing liability incurred on various dates between January 2019 through September 2019 with implied interest rates ranging from 0.7% to 17.0% per annum. $ 83,400,000 $ 83,576,661 Non-revolving, senior secured term notes dated between October 1, 2018 and October 30, 2020, issued to accredited investors, which mature on January 31, 2022, and bear interest at a rate of 15.5% and 18.0% per annum. 100,712,185 77,675,000 Convertible debentures dated between September 16, 2020 and December 17, 2020, issued to accredited investors and qualified institutional buyers, which mature two years from issuance, and bear interest at a rate of 7.5% per annum. 4,000,000 - Promissory notes dated between January 15, 2019 through March 29, 2019, issued for deferred payments on acquisitions, which mature on varying dates from August 3, 2019 to June 30, 2020 and bear interest at rates ranging from 8.0% to 9.0% per annum. 15,992,000 16,173,250 Promissory notes dated November 7, 2018, issued to Lessor for tenant improvements as part of sales and leaseback transactions, which mature on November 7, 2028, bear interest at a rate of 10.0% per annum and require minimum monthly payments of $15,660 and $18,471. 2,221,112 2,339,564 Other 15,417 15,418 Total Notes Payable 206,340,714 179,779,893 Less Unamortized Debt Issuance Costs and Loan Origination Fees (11,827,601 ) (10,781,288 ) Net Amount $ 194,513,113 $ 168,998,605 Less Current Portion of Notes Payable (16,761,052 ) (16,188,668 ) Notes Payable, Net of Current Portion $ 177,752,061 $ 152,809,937
Schedule of reconciliation notes payable	Balance at Beginning of Period $ 168,998,605 Cash Additions 14,830,279 Non-Cash Addition - Debt Modification 877,439 Debt Discount Recognized on Modification (947,918 ) Paid-In-Kind Interest Capitalized 11,454,467 Cash Payments (481,780 ) Equity Component of Debt (5,310,375 ) Cash Paid for Debt Issuance Costs 70,479 Accretion of Debt Discount 5,021,917 Balance at End of Period $ 194,513,113 Less Current Portion of Notes Payable (16,761,052 ) Notes Payable, Net of Current Portion $ 177,752,061

SENIOR SECURED CONVERTIBLE CR_2

SENIOR SECURED CONVERTIBLE CREDIT FACILITY (Tables)	6 Months Ended
	Dec. 26, 2020
SENIOR SECURED CONVERTIBLE CREDIT FACILITY
Schedule of senior secured convertible credit facility	December 26, June 27, Tranche 2020 2020 Senior secured convertible notes dated April 23, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 1A $ 16,092,152 $ 21,660,583 Senior secured convertible notes dated May 22, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 1B 90,698,233 86,053,316 Senior secured convertible notes dated July 12, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 2 28,340,475 26,570,948 Senior secured convertible notes dated November 27, 2019, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 3 10,974,012 10,288,815 Senior secured convertible notes dated March 27, 2020, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. 4 13,327,075 12,500,000 Amendment fee converted to senior secured convertible notes dated October 29, 2019, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. - 20,717,133 19,423,593 Senior secured convertible notes dated April 24, 2020, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. IA-1 2,894,053 2,734,282 Senior secured convertible notes dated September 14, 2020, issued to accredited investors, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. IA-2 5,596,564 - Restatement fee issued in senior secured convertible notes dated March 27, 2020, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. - 8,745,997 8,199,863 Second restatement fee issued in senior secured convertible notes dated July 2, 2020, which mature on April 23, 2022 and bear interest at LIBOR plus 6.0% per annum. - 2,092,538 - Total Drawn on Senior Secured Convertible Credit Facility 199,478,232 187,431,400 Less Unamortized Debt Discount (39,886,067 ) (21,062,937 ) Senior Secured Convertible Credit Facility, Net $ 159,592,165 $ 166,368,463
Schedule of reconciliation senior secured convertible credit facilty	Tranche 1 Tranche 2 Tranche 3 Tranche 4 Incremental Advance - 1 Incremental Advance - 2 Amendment Fee Notes Restatement Fee Notes 2nd Restatement Fee Notes TOTAL Balance as of June 27, 2020 $ 102,833,447 $ 25,352,687 $ 9,680,433 $ 286,691 $ 2,168,540 $ - $ 18,964,600 $ 7,082,065 $ - $ 166,368,463 Cash Additions - - - - - 5,468,565 - - - 5,468,565 Repayments (8,000,000 ) - - - - - - - - (8,000,000 ) Fees Capitalized to Debt Related to Debt Modifications - - - - - (468,564 ) - - 2,000,000 1,531,436 Paid-In-Kind Interest Capitalized 7,076,486 1,769,530 685,198 827,075 159,771 128,000 1,293,540 546,134 92,538 12,578,272 Net Effect on Debt from Extinguishment 4,812,996 962,750 497,175 2,167,870 (453,979 ) - 455,792 630,758 - 9,073,362 Net Effect on Equity Component of New and Amended Debt (13,190,673 ) (3,412,171 ) (1,454,451 ) (2,839,602 ) (1,296,844 ) (3,239,508 ) (2,349,451 ) (4,551,980 ) - (32,334,680 ) Cash Paid for Debt Issuance Costs - - - - - (175,000 ) - - - (175,000 ) Amortization of Debt Discounts 2,185,753 566,800 241,271 676,309 215,283 329,917 351,577 514,837 - 5,081,747 Balance as of December 26, 2020 $ 95,718,009 $ 25,239,596 $ 9,649,626 $ 1,118,343 $ 792,771 $ 2,043,410 $ 18,716,058 $ 4,221,814 $ 2,092,538 $ 159,592,165

SHAREHOLDERS EQUITY (Tables)

SHAREHOLDERS EQUITY (Tables)	6 Months Ended
	Dec. 26, 2020
MEZZANINE EQUITY:
Schedule of Shares issued and outstanding	Subordinate Voting Super MM CAN USA Redeemable Units MM Enterprises USA Balance as of June 27, 2020 403,907,218 815,295 236,123,851 725,016 Cancellation of Super Voting Shares - (815,295 ) - - Shares Issued to Settle Accounts Payable and Liabilities 7,205,754 - - - Redemption of MedMen Corp Redeemable Shares 88,945,434 - (88,945,434 ) - Shares Issued for Vested Restricted Stock Units 7,173,256 - - - Shares Issued for Acquisition Costs 2,082,890 - - - Stock Grants for Compensation 3,001,282 - - - Balance as of December 26, 2020 512,315,834 - 147,178,417 725,016
Schedule of VIE	Venice Caregivers Foundation, Inc. LAX Fund II Group, LLC Natures Cure, Inc. TOTAL Current Assets $ 772,010 $ (8,795,281 ) $ 10,407,949 $ 2,384,678 Non-Current Assets 13,461,338 3,129,112 5,002,478 21,592,928 Total Assets $ 14,233,348 $ (5,666,169 ) $ 15,410,427 $ 23,977,606 Current Liabilities $ 12,147,006 $ (566,336 ) $ 5,070,565 $ 16,651,235 Non-Current Liabilities 9,214,775 2,558,486 1,146,329 12,919,590 Total Liabilities $ 21,361,781 $ 1,992,150 $ 6,216,894 $ 29,570,825 Non-Controlling Interest $ (7,128,433 ) $ (7,658,319 ) $ 9,193,533 $ (5,593,219 ) Revenues $ 4,398,883 $ (823 ) $ 6,549,799 $ 10,947,859 Net Income (Loss) Attributable to Non-Controlling Interest $ (1,203,248 ) $ (1,587,992 ) $ 2,413,906 $ (377,334 ) As of and for the year ended June 27, 2020, the balances of the VIEs consists of the following: Venice Caregivers Foundation, Inc. LAX Fund II Group, LLC Natures Cure, Inc. TOTAL Current Assets $ 1,233,188 $ 811,025 $ 6,639,231 $ 8,683,444 Non-Current Assets 16,867,824 3,259,563 5,032,428 25,159,815 Total Assets $ 18,101,012 $ 4,070,588 $ 11,671,659 $ 33,843,259 Current Liabilities $ 12,831,161 $ 7,481,953 $ 3,745,710 $ 24,058,824 Non-Current Liabilities 11,196,585 2,662,078 1,146,322 15,004,985 Total Liabilities $ 24,027,746 $ 10,144,031 $ 4,892,032 $ 39,063,809 Non-Controlling Interest $ (5,926,734 ) $ (6,073,443 ) $ 6,779,627 $ (5,220,550 ) Revenues $ 10,949,458 $ - $ 13,976,810 $ 24,926,268 Net Income (Loss) Attributable to Non-Controlling Interest $ (6,132,528 ) $ (3,777,079 ) $ 3,143,437 $ (6,766,170 )
Schedule of other non-controlling interest	Venice Caregivers Foundation, Inc. LAX Fund II Group, LLC Natures Cure, Inc. Other Non- Controlling Interests TOTAL Balance as of June 27, 2020 $ (5,925,185 ) $ (6,070,327 ) $ 6,779,627 $ (331,561,812 ) $ (336,777,697 ) Net Income (Loss) (1,203,248 ) (1,587,992 ) 2,413,906 (29,715,662 ) (30,092,996 ) Equity Component on Debt and Debt Modification - - - 4,055,133 4,055,133 Deferred Tax Impact on Conversion Feature - - - (1,210,052 ) (1,210,052 ) Redemption of MedMen Corp Redeemable Shares - - - (48,580,443 ) (48,580,443 ) Balance as of December 26, 2020 $ (7,128,433 ) $ (7,658,319 ) $ 9,193,533 $ (407,012,836 ) $ (412,606,055 )

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Dec. 26, 2020
SHARE-BASED COMPENSATION
Schedule of share-based compensation expense	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Stock Options $ 1,537,682 $ 967,231 $ 2,546,220 $ 2,654,504 LTIP Units - 479,528 - 1,313,059 Stock Grants for Services (60,357 ) 1,524,698 121,232 1,889,646 Restricted Stock Grants 279,909 1,130,018 437,386 2,810,643 Total Share-Based Compensation $ 1,757,234 $ 4,101,475 $ 3,104,838 $ 8,667,852
Schedule of Black-Scholes option-pricing model	Six Months Ended December 26, December 28, 2020 2019 Weighted-Average Risk-Free Annual Interest Rate 1.05 % 1.70 % Weighted-Average Expected Annual Dividend Yield 0.0 % 0.0 % Weighted-Average Expected Stock Price Volatility 116.5 % 85.1 % Weighted-Average Expected Life in Years 7.50 7.50 Weighted-Average Estimated Forfeiture Rate 40.0 % 40.0 %
Schedule of stock options	Number of Stock Options Weighted-Average Exercise Price Number of Stock Options Exercisable Weighted-Average Exercise Price Balance as of June 27, 2020 8,618,204 $ 2.78 4,248,393 $ 2.78 Granted 7,318,669 $ 0.17 8,257,087 $ 0.36 Forfeited (1,051,917 ) $ (3.00 ) - $ - Balance as of December 26, 2020 14,884,956 $ 1.48 12,505,480 $ 1.42
Schedule of LTIP Units and LLC Redeemable Units	Weighted LTIP Units LLC Average Issued and Redeemable Grant Date Outstanding Units Fair Value Balance as of June 27, 2020 and September 26, 2020 19,323,878 725,016 $ 0.52
Schedule of Deferred Stock Units	Issued and Outstanding Weighted-Average Fair Value Balance as of June 27, 2020 1,283,567 $ 0.38 Settled (1,283,567 ) $ (0.38 ) Balance as of December 26, 2020 - $ -
Schedule of Restricted Stock Grants	Issued and Outstanding Vested Weighted-Average Fair Value Balance as of June 27, 2020 7,159,164 192,459 $ 0.68 Granted (1) 27,508,063 - $ 0.16 Forfeiture of Restricted Stock (2) (2,156,155 ) - $ (0.15 ) Redemption of Vested Stock (7,173,258 ) (7,173,258 ) $ (0.18 ) Vesting of Restricted Stock - 7,584,358 $ 0.18 Balance as of December 26, 2020 25,337,814 603,559 $ 0.30
Schedule of Warrants	Number of Warrants Outstanding Subordinate Voting Shares MedMen Corp Redeemable Shares Total Weighted-Average Exercise Price Balance as of June 27, 2020 114,998,915 40,455,731 155,454,646 $ 0.71 Issued 114,305,552 147,508,516 261,814,068 $ 0.18 Cancelled (1,080,226 ) (40,455,731 ) (41,535,957 ) $ (0.50 ) Balance as of December 26, 2020 228,224,241 147,508,516 375,732,757 $ 0.36
Schedule of fair value of warrants	December 26, June 27 2020 2020 Weighted-Average Risk-Free Annual Interest Rate 0.13 % 2.20 % Weighted-Average Expected Annual Dividend Yield 0 % 0 % Weighted-Average Expected Stock Price Volatility 92.06 % 88.19 % Weighted-Average Expected Life of Warrants 1 year 1 year The fair value of warrants exercisable for the Company’s Subordinate Voting Shares was determined using the Black-Scholes option-pricing model with the following assumptions on the latest modification of December 17, 2020: Weighted-Average Risk-Free Annual Interest Rate 0.09 % Weighted-Average Expected Annual Dividend Yield 0 % Weighted-Average Expected Stock Price Volatility 91.82 % Weighted-Average Expected Life of Warrants 1 year

LOSS PER SHARE (Tables)

LOSS PER SHARE (Tables)	6 Months Ended
	Dec. 26, 2020
LOSS PER SHARE
Schedule of basic and diluted loss per share	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Net Loss from Continuing Operations Attributable to Shareholders of MedMen Enterprises, Inc. $ (50,897,250 ) $ (4,404,879 ) $ (70,134,937 ) $ (25,547,228 ) Less: Deemed Dividend - Down Round Feature of Warrants (1,480,716 ) - (6,364,183 ) - Net Loss from Continuing Operations Available to Shareholders of MedMen Enterprises, Inc. $ (52,377,966 ) $ (4,404,879 ) $ (76,499,120 ) $ (25,547,228 ) Net Income (Loss) from Discontinued Operations 1,201,766 (36,845,653 ) (1,480,409 ) (39,926,048 ) Total Net Loss $ (51,176,200 ) $ (41,250,532 ) $ (77,979,529 ) $ (65,473,276 ) Weighted-Average Shares Outstanding – Basic and Diluted 482,903,106 220,467,070 452,806,117 196,211,921 Loss Per Share - Basic and Diluted: From Continuing Operations Attributable to Shareholders of MedMen Enterprises Inc. $ (0.11 ) $ (0.02 ) $ (0.17 ) $ (0.13 ) From Discontinued Operations Attributable to Shareholders of MedMen Enterprises Inc. $ 0.00 $ (0.17 ) $ (0.00 ) $ (0.20 )

GENERAL AND ADMINISTRATIVE EX_2

GENERAL AND ADMINISTRATIVE EXPENSES (Tables)	6 Months Ended
	Dec. 26, 2020
GENERAL AND ADMINISTRATIVE EXPENSES
Schedule of general and administrative expenses	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Salaries and Benefits $ 9,601,502 $ 23,614,626 $ 19,642,206 $ 44,515,961 Professional Fees 3,602,429 5,142,056 7,201,764 10,427,325 Rent 8,977,156 9,274,734 17,584,889 16,409,249 Licenses, Fees and Taxes 1,713,267 5,857,171 4,964,145 8,179,070 Other General and Administrative 9,674,082 16,430,360 15,859,036 34,882,291 Total General and Administrative Expenses $ 33,568,436 $ 60,318,947 $ 65,252,040 $ 114,413,896

OTHER OPERATING EXPENSE (Table)

OTHER OPERATING EXPENSE (Table)	6 Months Ended
	Dec. 26, 2020
OTHER OPERATING EXPENSE
Schedule of other operating expenses	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Loss on Disposals of Assets $ 527,944 $ 1,088,299 $ 384,577 $ 226,335 Restructuring and Reorganization Expense 591,488 5,284,661 1,180,410 5,636,590 Loss on Settlement of Accounts Payable 1,186,333 - 1,025,688 - Gain on Lease Terminations (1,279,533 ) (23,815 ) (17,908,817 ) (217,127 ) Other Income (250,336 ) (643,737 ) (603,823 ) (638,352 ) Total Other Operating Expense (Income) $ 775,896 $ 5,705,408 $ (15,921,965 ) $ 5,007,446

REALIZED AND UNREALIZED LOSS _2

REALIZED AND UNREALIZED LOSS (GAIN) ON INVESTMENTS AND ASSETS HELD FOR SALE (Table)	6 Months Ended
	Dec. 26, 2020
REALIZED AND UNREALIZED LOSS (GAIN) ON INVESTMENTS AND ASSETS HELD FOR SALE
Schedule of realized and unrealized loss (gain) on investments and assets held for sale	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Loss (Gain) on Assets Held for Sale $ 1,960,871 $ (3,000 ) $ (10,454,608 ) $ - Gain on Changes in Fair Value of Investments - (5,031,158 ) - (16,514,480 ) Total Realized and Unrealized Loss (Gain) on Investments and Assets Held for Sale $ 1,960,871 $ (5,034,158 ) $ (10,454,608 ) $ (16,514,480 )

PROVISION FOR INCOME TAXES AN_2

PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES (Tables)	6 Months Ended
	Dec. 26, 2020
PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES
Schedule of income tax expense and effective tax rates	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Loss from Continuing Operations Before Provision for Income Taxes $ (46,092,236 ) $ (71,051,659 ) $ (65,918,902 ) $ (148,430,669 ) Income Tax (Expense) Benefit (23,970,469 ) 14,649,487 (34,309,031 ) 32,310,218 Effective Tax Rate (52.04 )% 20.87 % (52.04 )% 20.87 %

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Dec. 26, 2020
RELATED PARTY TRANSACTIONS
Schedule of Related party transacrions	December 26, June 27, Name and Relationship to Company Transaction 2020 2020 MMOF GP II, LLC (“Fund LP II”), an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 27.1% of indirect equity interest in Fund LP II, the General Partner of Fund II, which both hold equity interests in a subsidiary of the Company. (1) Management Fees $ 1,820,204 $ 1,820,204 MedMen Opportunity Fund GP, LLC (“Fund LP”), an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 24.2% of indirect equity interest in Fund LP, the General Partner of Fund I, which both hold equity interests in a subsidiary of the Company. (1) Management Fees 1,289,513 1,289,513 Total Amounts Due from Related Parties $ 3,109,717 $ 3,109,717 ___________________ (1) As of February 2020 and May 2020, Mr. Adam Bierman and Mr. Andrew Modlin, respectively,no longer held board or management positions and therefore as of December 26, 2020 are not related parties, however they were during the fiscal year ended June 27, 2020. As of November 2020, Chris Ganan was no longer a member of the Company’s board of directors and therefore is not considered a related party under ASC 850, “Related Party Disclosures” as of December 26, 2020, however Mr. Ganan was a related party during the fiscal year ended June 27, 2020. As of December 26, 2020 and June 27, 2020, amounts due to related parties were as follows: December 26, June 27, Name and Relationship to Company Transaction 2020 2020 Fund LP II, an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 27.1% of indirect equity interest in Fund LP II, the General Partner of Fund II, which both hold equity interests in a subsidiary of the Company. (1) Working Capital, Construction and Tenant Improvements, Lease Deposits and Cash Used for Acquisitions $ (1,093,896 ) $ (1,093,896 ) Fund LP, an entity which Mr. Adam Bierman, Mr. Andrew Modlin and Mr. Christopher Ganan each holds 33.3% indirect voting interest. The shareholders each hold 24.2% of indirect equity interest in Fund LP, the General Partner of Fund I, which both hold equity interests in a subsidiary of the Company. (1) Working Capital, Management Fees and Cash Used for Acquisitions (1,986,697 ) (1,986,697 ) Other (1,294,134 ) (1,476,221 ) Total Amounts Due to Related Parties $ (4,374,727 ) $ (4,556,814 )

DISCONTINUED OPERATIONS (Tables

DISCONTINUED OPERATIONS (Tables)	6 Months Ended
	Dec. 26, 2020
DISCONTINUED OPERATIONS
Schedule of net operating loss of discontinued operation	Three Months Ended Six Months Ended December 26, December 28, December 26, December 28, 2020 2019 2020 2019 Revenue $ 1,741,505 $ 4,276,771 $ 3,341,495 $ 8,581,520 Cost of Goods Sold 1,223,372 2,054,833 2,492,124 5,935,439 Gross Profit 518,133 2,221,938 849,371 2,646,081 Expenses: General and Administrative 718,101 1,961,132 1,694,712 3,784,884 Sales and Marketing 10,600 42,057 17,101 43,005 Depreciation and Amortization 32,060 662,393 81,202 1,161,721 Impairment Expense - 46,702,659 - 46,702,659 Total Expenses 760,761 49,368,241 1,793,015 51,692,269 Loss from Operations (242,628 ) (47,146,303 ) (943,644 ) (49,046,188 ) Other Expense (Income): Other Expense (34,391 ) 232 2,665 5,592 Total Other Expense (34,391 ) 232 2,665 5,592 Loss on Discontinued Operations Before Provision for Income Taxes (208,237 ) (47,146,535 ) (946,309 ) (49,051,780 ) Provision for Income Tax Benefit (Expense) 1,410,003 10,300,882 (534,100 ) 9,125,732 Income (Loss) on Discontinued Operations $ 1,201,766 $ (36,845,653 ) $ (1,480,409 ) $ (39,926,048 )
Schedule of assets included in discontinued operation	December 26, June 27, 2020 2020 Carrying Amounts of the Assets Included in Discontinued Operations: Cash and Cash Equivalents $ 148,106 $ 522,966 Accounts Receivable 386,391 274,886 Prepaid Expenses 124,262 74,622 Inventory 1,663,909 3,323,978 Other Current Assets 48,736 64,600 TOTAL CURRENT ASSETS (1) Property and Equipment, Net 2,548,041 4,288,808 Operating Lease Right-of-Use Assets 4,998,953 5,257,327 Intangible Assets, Net 3,756,780 7,260,288 Other Assets 4,860 113,576 TOTAL NON-CURRENT ASSETS (1) TOTAL ASSETS OF THE DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE $ 13,680,038 $ 21,181,051 Carrying Amounts of the Liabilities Included in Discontinued Operations: Accounts Payable and Accrued Liabilities $ 1,069,500 $ 2,126,162 Income Taxes Payable 1,803,056 946,679 Other Current Liabilities 13,015 22,748 Current Portion of Operating Lease Liabilities 173,929 385,699 TOTAL CURRENT LIABILITIES (1) Operating Lease Liabilities, Net of Current Portion 4,941,099 5,300,936 Deferred Tax Liabilities 1,325,032 6,278,079 TOTAL NON-CURRENT LIABILITIES (1) TOTAL LIABILITIES OF THE DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE $ 9,325,631 $ 15,060,303

NATURE OF OPERATIONS (Details N

NATURE OF OPERATIONS (Details Narrative)	Jan. 24, 2018shares
MM Enterprises USA Class B Units [Member]
Shares received	217,184,382

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details Narrative) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
Restricted cash	$ 6,010	$ 9,873

INVENTORIES (Details)

INVENTORIES (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Total Inventory	$ 25,495,872	$ 22,638,120
Inventory [Member]
Raw Materials	3,326,636	2,055,500
Work-in-Process	9,173,021	8,807,137
Finished Goods	12,996,215	11,775,483
Total Inventory	$ 25,495,872	$ 22,638,120

OTHER CURRENT ASSETS (Details)

OTHER CURRENT ASSETS (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Other Current Assets	$ 5,733,682	$ 9,105,457
Other Current Assets [Member]
Investments	3,036,791	3,786,791
Excise Tax Receivable	0	5,254,595
Notes Receivable	2,549,302	0
Other Current Assets	147,589	64,071
Total Other Current Assets	$ 5,733,682	$ 9,105,457

OTHER CURRENT ASSETS (Details 1

OTHER CURRENT ASSETS (Details 1)	6 Months Ended
	Dec. 26, 2020USD ($)
Total [Member]
Fair value beginning balance	$ 3,786,791
Settlement of Liabilities	(750,000)
Fair value evening balance	3,036,791
Other Investments [Member]
Fair value beginning balance	1,066,791
Settlement of Liabilities	0
Fair value evening balance	1,066,791
Old Pal [Member]
Fair value beginning balance	1,970,000
Settlement of Liabilities	0
Fair value evening balance	1,970,000
The Hacienda Company LLC [Member]
Fair value beginning balance	750,000
Settlement of Liabilities	(750,000)
Fair value evening balance	0
ToroVerde Inc [Member]
Fair value beginning balance	0
Settlement of Liabilities	0
Fair value evening balance	$ 0

OTHER CURRENT ASSETS (Details N

OTHER CURRENT ASSETS (Details Narrative) - USD ($)	1 Months Ended	6 Months Ended
	Jul. 31, 2018	Dec. 26, 2020	Jun. 27, 2020
Equity ownership percentages		2.60%
Voting interests percentages		1.40%
Old Pal [Member]
Fair Value of investment		$ 1,970,000
Old Pal [Member] | October 2018 and March 2019 [Member]
Voting interests percentages		8.70%
Aggregate purchase price		$ 2,000,000
Outstanding units percentages		10.00%
ToroVerde Inc [Member]
Equity ownership percentages		14.30%	14.30%
Voting interests percentages		14.30%	14.30%
Aggregate purchase price	$ 5,000,000
Common shares purchased	9,000,000
Common shares purchase price per share	$ 0.56
Percentages of outstanding common shares	14.30%
The Hacienda Company LLC [Member]
Equity ownership percentages		0.00%	3.20%
Voting interests percentages		0.00%	3.20%
Aggregate purchase price	$ 1,500,000
Settlement of outstanding balances		$ 750,000

ASSETS HELD FOR SALE (Details)

ASSETS HELD FOR SALE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Gain on the Sale of Assets Held for Sale	$ 527,944	$ 1,088,299	$ 384,577	$ 226,335
Balance at End of Period	20,499,209		20,499,209
Pharma Cann Assets [Member]
Balance at Beginning of Period			212,400
Transferred In			0
Gain on the Sale of Assets Held for Sale			0
Proceeds from Sale			0
Ongoing Activity from Discontinued Operations			0
Balance at End of Period	212,400		212,400
Discontinued Operations [Member]
Balance at Beginning of Period			21,181,051
Transferred In			0
Gain on the Sale of Assets Held for Sale			0
Proceeds from Sale			0
Ongoing Activity from Discontinued Operations			(7,501,013)
Balance at End of Period	13,680,038		13,680,038
Available For Sale Subsidiaries [Member]
Balance at Beginning of Period			12,066,428
Transferred In			6,614,987
Gain on the Sale of Assets Held for Sale			10,454,608
Proceeds from Sale			(20,907,879)
Ongoing Activity from Discontinued Operations			(1,621,372)
Balance at End of Period	6,606,772		6,606,772
Total [Member]
Balance at Beginning of Period			33,459,879
Transferred In			6,614,987
Gain on the Sale of Assets Held for Sale			10,454,608
Proceeds from Sale			(20,907,879)
Ongoing Activity from Discontinued Operations			(9,122,385)
Balance at End of Period	$ 20,499,209		$ 20,499,209

ASSETS HELD FOR SALE (Details 1

ASSETS HELD FOR SALE (Details 1) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Carrying Amount of the Assets Included in Assets Held for Sale
Other Current Assets	$ 5,733,682	$ 9,105,457
TOTAL CURRENT ASSETS
Property and Equipment, Net	152,427,173	174,547,867
Operating Lease Right-of-use Assets	98,236,694	116,354,828
Goodwill	33,861,150	33,861,150
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS OF SUBSIDIARIES CLASSIFIED AS HELD FOR SALE	503,565,094	574,263,604
Carrying Amount of the Liabilities in Assets held for Sale
Other Current Liabilities	13,462,163	20,278,381
Current Portion of Operating Lease Liabilities	5,882,032	9,757,669
TOTAL CURRENT LIABILITIES
Operating Lease Liabilities, Net of Current Portion	116,211,645	131,045,238
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES OF SUBSIDIARIES CLASSIFIED AS ASSETS HELD FOR SALE	750,472,092	751,152,054
Assets Held For Sale [Member]
Carrying Amount of the Assets Included in Assets Held for Sale
Cash and Cash Equivalaent	0	743,271
Prepaid Expenses	103	7,798
Inventory	0	520,464
Other Current Assets	0	81,427
TOTAL CURRENT ASSETS
Property and Equipment, Net	166,657	717,952
Operating Lease Right-of-use Assets	965,558	190,986
Intangible Assets, Net	5,474,454	5,227,288
Goodwill	0	4,577,242
TOTAL NON-CURRENT ASSETS
TOTAL ASSETS OF SUBSIDIARIES CLASSIFIED AS HELD FOR SALE	6,606,772	12,066,428
Carrying Amount of the Liabilities in Assets held for Sale
Account Payable and Accrued Liabilities	10,698	963,255
Income Taxes Payable	0	159,053
Other Current Liabilities	0	27,854
Current Portion of Operating Lease Liabilities	272,119	0
TOTAL CURRENT LIABILITIES
Operating Lease Liabilities, Net of Current Portion	965,592	296,694
Deffered Tax liabilities	1,793,659	2,151,879
TOTAL NON-CURRENT LIABILITIES
TOTAL LIABILITIES OF SUBSIDIARIES CLASSIFIED AS ASSETS HELD FOR SALE	$ 3,042,068	$ 3,598,735

ASSETS HELD FOR SALE (Details N

ASSETS HELD FOR SALE (Details Narrative) - USD ($)	1 Months Ended	3 Months Ended	6 Months Ended
	Nov. 17, 2020	Jun. 26, 2020	Dec. 26, 2020	Dec. 26, 2020	Dec. 28, 2019	Dec. 27, 2020	Jun. 27, 2020
Carrying Amount of the Assets Included in Assets Held for Sale
Equity consideration					$ 40,200,000
Membership interests			2.60%	2.60%
July 1, 2020 [Member]
Carrying Amount of the Assets Included in Assets Held for Sale
Consideration				$ 20,000,000
Cash received				10,000,000
Additional Cash	$ 8,000,000
Secured promissory note				2,000,000
MME Evanston Retail, LLC [Member]
Carrying Amount of the Assets Included in Assets Held for Sale
Membership interests						100.00%
Staunton [Member]
Carrying Amount of the Assets Included in Assets Held for Sale
Membership interests							100.00%
Purchase agreement [Member] | Third party [Member]
Carrying Amount of the Assets Included in Assets Held for Sale
Purchase consideration for ownership interest			$ 3,750,000	$ 3,750,000
Purchase consideration, cash consideration			3,500,000
Equity consideration			$ 250,000
Separate Agreements [Member]
Carrying Amount of the Assets Included in Assets Held for Sale
Membership interests			100.00%	100.00%
Carrying amount			$ 212,400	$ 212,400
Aggregate sale price		$ 1,500,000
Agreement Description				Non-binding term sheet for the retail location located in Seaside, California for an aggregate sales price of $1,500,000 wherein $750,000 is to be paid upon the date of close in addition to $750,000 paid in equal monthly installments over twelve months through a promissory note. The transaction closed in October 2020 and the Company transferred all outstanding membership interests in PHSL, LLC. Upon deconsolidation, the Company will not have any continuing involvement with the former subsidiary. The Company recognized a loss upon sale of membership interests of $332,747 for the difference between the aggregate consideration and the book value of the assets as of the disposition date, less direct costs to sell

PROPERTY AND EQUIPMENT (Details

PROPERTY AND EQUIPMENT (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Property and Equipment, Net	$ 152,427,173	$ 174,547,867
Property And Equipment [Member]
Land and Buildings	37,421,326	37,400,378
Finance Lease Right-of-Use Assets	12,650,946	26,194,566
Furnitures and Fixtures	14,042,105	13,970,449
Leasehold improvements	67,534,535	63,976,372
Equipment and Software	29,700,665	29,277,120
Construction in Progress	36,404,721	38,470,016
Total Property and Equipment	197,754,298	209,288,901
Less Accumulated Depreciation	(45,327,125)	(34,741,034)
Property and Equipment, Net	$ 152,427,173	$ 174,547,867

PROPERTY AND EQUIPMENT (Detai_2

PROPERTY AND EQUIPMENT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
INTANGIBLE ASSETS
Depreciation Expense	$ 3,960,243	$ 3,344,124	$ 9,512,628	$ 10,410,880
Cost of Good Sold	278,719	406,103	558,250	1,348,645
Right of use assets	$ 83,427		$ 397,569
Borrowing costs		$ 1,432,632		$ 2,308,728
Average capitalization rate	15.00%	15.00%	15.00%	15.00%
Labor related costs	$ 71,000	$ 339,905	$ 507,164	$ 776,069
Construction in progress	$ 12,000	$ 36,269	$ 148,386	$ 172,655

INTANGIBLE ASSETS (Details)

INTANGIBLE ASSETS (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Total Intangible Assets	$ 176,428,222	$ 183,693,165
Less Accumulated Amortization	(42,847,756)	(35,612,135)
Intangible Assets, Net	133,580,466	148,081,030
Capitalized Software [Member]
Total Intangible Assets	9,343,352	9,255,026
Less Accumulated Amortization	(3,462,896)	(2,273,432)
Management Agreement [Member]
Total Intangible Assets	7,594,937	7,594,937
Less Accumulated Amortization	(665,276)	(565,972)
Customer Relationship [Member]
Total Intangible Assets	18,586,200	18,586,200
Less Accumulated Amortization	(13,407,729)	(8,113,913)
Intellectual Property [Member]
Total Intangible Assets	7,850,517	8,520,121
Less Accumulated Amortization	(2,246,961)	(5,496,231)
Dispensary License [Member]
Total Intangible Assets	133,053,216	139,736,881
Less Accumulated Amortization	$ (23,064,894)	$ (19,162,587)

INTANGIBLE ASSETS (Details Narr

INTANGIBLE ASSETS (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
INTANGIBLE ASSETS
Amortization expense	$ 6,023,730	$ 3,705,231	$ 9,376,584	$ 7,065,198
Share based compensation	$ 13,300	$ 70,988	$ 38,119	$ 272,242

OTHER ASSETS (Details)

OTHER ASSETS (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Other Current Assets	$ 5,733,682	$ 9,105,457
Other Assets [Member]
Long-Term Security Diposits for Leases	9,271,565	9,752,611
Loans and Other Long-Term Diposits	7,769,757	7,568,738
Other Current Assets	96,595	53,648
Total Other Assets	$ 17,137,917	$ 17,374,997

ACCOUNTS PAYABLE AND ACCRUED _3

ACCOUNTS PAYABLE AND ACCRUED LIABILITIES (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Total Accounts Payable and Accrued Liabilities	$ 13,462,163	$ 20,278,381
Accounts Payable and Accrued Liabilities [Member]
Accounts Payable	57,692,382	58,614,619
Accrued Liabilities	13,234,560	10,532,715
Other Accrued Liabilities	9,708,487	10,383,596
Total Accounts Payable and Accrued Liabilities	$ 80,635,429	$ 79,530,930

OTHER CURRENT LIABILITIES (Deta

OTHER CURRENT LIABILITIES (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Total Accounts Payable and Accrued Liabilities	$ 13,462,163	$ 20,278,381
Total Other Current Liabilities	3,932,218	4,215,533
Other Current Liabilities and Other Non-Current Liabilities [Member]
Accrued Interest Payable	1,857,304	9,051,650
Contingent Consideration	87,893	8,951,801
Derivatives	418,576	546,076
Total Accounts Payable and Accrued Liabilities	11,098,390	1,728,854
Total Other Current Liabilities	$ 13,462,163	$ 20,278,381

OTHER CURRENT LIABILITIES (De_2

OTHER CURRENT LIABILITIES (Details 1) - Derivative Liabilties [Member]	Dec. 26, 2020USD ($)
Balance at Beginning of Period	$ 546,076
Change in Fair Value of Derivative Liabilities	(127,500)
Balance at End of Period	$ 418,576

LEASES (Details)

LEASES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
Finance Lease Cost
Amortization of Finance Lease Right-of-Use Assets	$ 83,426	$ 546,157	$ 397,569	$ 2,616,924
Interest on Lease Liabilities	460,297	1,549,769	1,984,118	2,982,699
Operating Lease Cost	8,034,052	7,978,593	15,692,972	14,964,892
Total Lease Expenses	8,577,775	10,074,519	18,074,659	20,564,515
Gain on Sale and Leaseback Transactions, Net	0	0	0	(704,207)
Cash Paid for Amount Includedin the Measurementof Lease Liabilities:
Financing Cash Flow from Financing Leases	0	297,588	39,880	297,588
Operating Cash Flow from Operating Leases	6,918,798	10,157,732	16,077,196	17,329,775
Non Cash Additional to Right-of-Use Assets and Lease Liabilities
Recognition of Right-of-Use Assets for Finance Leases	0	2,937,513	350,249	45,614,041
Recognition of Right-of-Use Assets for Operating Leases	$ 0	$ 20,993,959	$ 0	$ 162,551,190

LEASES (Details 1)

LEASES (Details 1)	Dec. 26, 2020USD ($)
Operating Leases
June 26, 2021	$ 14,166,912
June 25, 2022	28,762,223
June 24, 2023	28,896,785
June 29, 2024	33,130,642
June 28, 2025	40,475,748
December 27, 2026 and Thereafter	109,374,556
Total lease payment	254,806,866
Less: Interest	(132,713,189)
Present Value of Lease Liabilities	122,093,677
Finance Leases
June 26, 2021	2,388,782
June 25, 2022	5,344,591
June 24, 2023	5,504,327
June 29, 2024	9,880,306
June 28, 2025	6,542,077
December 27, 2026 and Thereafter	1,076,344,422
Total lease payment	1,106,004,505
Less: Interest	(1,077,756,509)
Present Value of Lease Liabilities	$ 28,247,996

LEASES (Details Narrative)

LEASES (Details Narrative) - USD ($)	6 Months Ended
	Dec. 26, 2020	Oct. 30, 2020	Sep. 16, 2020	Jul. 02, 2020
Accrued interest				8.60%
Finance lease discount rate	15.93%
Finance Weighted-average remaining lease term	42 years
Operating lease discount rate	13.38%
Operating Weighted-average remaining lease term	8 years
Warrants issued		77,052,790	30,000,000
REIT [Member]
Gain on lease modification	$ 16,274,615
Warrants issued				3,500,000
Exercisable price				$ 0.34

NOTES PAYABLE (Details)

NOTES PAYABLE (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Finance liabilities incurred on various dates between January 2019 through September 2019 with implied interest rates ranging from 0.7% to 17.0% per annum	$ 617,592	$ 1,644,044
Total notes Payables	177,752,061	152,809,937
Convertible Notes Payable [Member]
Finance liabilities incurred on various dates between January 2019 through September 2019 with implied interest rates ranging from 0.7% to 17.0% per annum	83,400,000	83,576,661
Non-revolving, senior secured term notes dated between October 1, 2018 and September 16, 2020, issued to accredited investors, which mature on January 31, 2022, and bear interest at a rate of 15.5% and 18.0% per annum	100,712,185	77,675,000
Convertible debentures dated September 16, 2020, issued to accredited investors and qualified institutional buyers, which mature on September 16, 2022, and bear interest at a rate of 7.5% per annum	4,000,000	0
Promissory notes dated between January 15, 2019 through March 29, 2019, issued for deferred payments on acquisitions, which mature on varying dates from August 3, 2019 to June 30, 2020 and bear interest at rates ranging from 8.0% to 9.0% per annum	15,992,000	16,173,250
Promissory notes dated November 7, 2018, issued to Lessor for tenant improvements as part of sales and leaseback transactions, which mature on November 7, 2028, bear interest at a rate of 10.0% per annum and require minimum monthly payments of $15,660 and $18,471	2,221,112	2,339,564
Other.	15,417	15,418
Total notes Payables	206,340,714	179,779,893
Less. Unamortization Debt Issuance Cost an Loan Origination Fess	(11,827,601)	(10,781,288)
Net Amount	194,513,113	168,998,605
Less Current Portion of Notes Payable	(16,761,052)	(16,188,668)
Notes Payables, net of Current Portion	$ 177,752,061	$ 152,809,937

NOTES PAYABLE (Details 1)

NOTES PAYABLE (Details 1) - Notes Payable [Member]	6 Months Ended
	Dec. 26, 2020USD ($)
Balance at beginning of period Notes payables	$ 168,998,605
Cash additions	14,830,279
Non-cash Addition-Debt modification	877,439
Debt discount Recognized on modifacation	(947,918)
Paid in kind interest Capitalized	11,454,467
Cash payments	(481,780)
Equity Component of debt	(5,310,375)
Cash paid for debt issuance costs	70,479
Accreation of debt discount	5,021,917
Balance at ending of period Notes payables	194,513,113
Less Current portion of notes payables	(16,761,052)
Notes payable, Net of Current portion	$ 177,752,061

NOTES PAYABLE (Details Narrativ

NOTES PAYABLE (Details Narrative) - USD ($)	1 Months Ended					6 Months Ended
	Dec. 26, 2020	Dec. 17, 2020	Nov. 20, 2020	Oct. 30, 2020	Sep. 16, 2020	Dec. 26, 2020	Sep. 28, 2020	Jul. 02, 2020	Jun. 27, 2020
Amendment fee						$ 834,000
Warrants issued				77,052,790	30,000,000
Principal term Loan				$ 7,705,279	$ 3,000,000		$ 3,000,000	$ 77,675,000
Increase in additional paid in capital	$ 840,119,302				$ 405,480	$ 840,119,302			$ 791,172,613
Warrants adjusted price					$ 0.17
Warrants exercise price				$ 0.20	$ 0.20	$ 0.60
Warrants exercisable, issued						20,227,863
Warrants exercisable, per share						$ 0.34
Existing warrants, cancelled						20,227,863
Maturity Date				Sep. 14, 2025	Sep. 16, 2025	Dec. 31, 2022
Fair value of warrant issued	650,933
Additional debt discount					$ 542,986	$ 906,436
Fair value of the warrants in equity	$ 172,153					$ 172,153
Convertible Debt [Member]
Warrants exercise price					$ 0.21
Warrants exercisable, issued					3,293,413
Proceeds convertible debenture					$ 10,000,000
Interest rate					7.50%
Additional tranches amount					$ 1,000,000
Maximum tranche amount					$ 10,000,000
Interest paid					7.50%
Conversion of debt Amount					$ 1,000,000
Conversion price					$ 0.17
Voting share, greater than					$ 0.25
Hankey Capital [Member]
Principal term Loan								$ 77,675,000
Description						Shall accrue monthly to the outstanding principal as payment-in-kind effective March 1, 2020 through July 2, 2021. Thereafter until maturity on January 31, 2022, one-half of the interest (7.75% per annum) shall be payable monthly in cash and one-half of the interest (7.75% per annum) shall be paid-in-kind.
Rate of Interest								15.50%
Tranche 5 [Member]
Warrants issued				77,052,790	5,700,000
Increase in funds under facility					$ 12,000,000
Description					The additional amounts are funded through incremental term loans at an interest rate of 18.0% per annum wherein 12.0% shall be paid in cash monthly in arrears and 6.0% shall accrue monthly as payment-in-kind. In connection with each incremental draw under the amended Facility, the Company shall issue warrants equal to 200% of the incremental term loan amount, divided by the greater of (a) $0.20 per share and (b) 115% multiplied
Rate of Interest					18.00%
Tranche 4 [Member]
Warrants exercise price		$ 0.18
Warrants exercisable, issued		3,597,100
Debt conversion price		$ 0.15
Unsecured convertible debt		$ 1,000,000
Tranche 3 [Member]
Warrants exercise price			$ 0.17
Warrants exercisable, issued			3,592,425
Debt conversion price			$ 0.15
Unsecured convertible debt			$ 1,000,000
Tranche 2 [Member]
Warrants exercise price					$ 0.17
Warrants exercisable, issued					3,777,475
Debt conversion price							$ 0.15
Unsecured convertible debt							$ 1,000,000

SENIOR SECURED CONVERTIBLE CR_3

SENIOR SECURED CONVERTIBLE CREDIT FACILITY (Details ) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Total Drawn On Senior Secured Convertible Credit Facility	$ 199,478,232	$ 187,431,400
Less Unamortize Debt Discount	(39,886,067)	(21,062,937)
Senior Secured Convertible Credit Facility Net	159,592,165	166,368,463
Secured Convertible Note 9 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	2,092,538	0
Secured Convertible Note 8 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	8,745,997	8,199,863
Secured Convertible Note 7 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	5,596,564	0
Secured Convertible Note 6 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	2,894,053	2,734,282
Secured Convertible Note 5 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	20,717,133	19,423,593
Secured Convertible Note 4 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	13,327,075	12,500,000
Secured Convertible Note 3 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	10,974,012	10,288,815
Secured Convertible Note 2 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	28,340,475	26,570,948
Secured Convertible Note 1 [Member]
Total Drawn On Senior Secured Convertible Credit Facility	90,698,233	86,053,316
Secured Convertible Note [Member]
Total Drawn On Senior Secured Convertible Credit Facility	$ 16,092,152	$ 21,660,583

SENIOR SECURED CONVERTIBLE CR_4

SENIOR SECURED CONVERTIBLE CREDIT FACILITY (Details 1)	6 Months Ended
	Dec. 26, 2020USD ($)
Incremental Advance - 2 [Member]
Balance at beginning of period Notes payables	$ 0
Cash additions	5,468,565
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	(468,564)
Paid-In-Kind Interest Capitalized	128,000
Net Effect on Debt from Extinguishment	0
Net Effect on Equity Component of New and Amended Debt	(3,239,508)
Cash Paid for Debt Issuance Costs	(175,000)
Amortization of Debt Discounts	329,917
Balance at ending of period Notes payables	2,043,410
Incremental Advance - 1 [Member]
Balance at beginning of period Notes payables	2,168,540
Cash additions	0
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	0
Paid-In-Kind Interest Capitalized	159,771
Net Effect on Debt from Extinguishment	(453,979)
Net Effect on Equity Component of New and Amended Debt	(1,296,844)
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	215,283
Balance at ending of period Notes payables	792,771
2nd Restatement Fee Notes [Member]
Balance at beginning of period Notes payables	0
Cash additions	0
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	2,000,000
Paid-In-Kind Interest Capitalized	92,538
Net Effect on Debt from Extinguishment	0
Net Effect on Equity Component of New and Amended Debt	0
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	0
Balance at ending of period Notes payables	2,092,538
Restatement Fee Notes [Member]
Balance at beginning of period Notes payables	7,082,065
Cash additions	0
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	0
Paid-In-Kind Interest Capitalized	546,134
Net Effect on Debt from Extinguishment	630,758
Net Effect on Equity Component of New and Amended Debt	(4,551,980)
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	514,837
Balance at ending of period Notes payables	4,221,814
Amendment Fee Notes [Member]
Balance at beginning of period Notes payables	18,964,600
Cash additions	0
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	0
Paid-In-Kind Interest Capitalized	1,293,540
Net Effect on Debt from Extinguishment	455,792
Net Effect on Equity Component of New and Amended Debt	(2,349,451)
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	351,577
Balance at ending of period Notes payables	18,716,058
Tranche 4 [Member]
Balance at beginning of period Notes payables	286,691
Cash additions	0
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	0
Paid-In-Kind Interest Capitalized	827,075
Net Effect on Debt from Extinguishment	2,167,870
Net Effect on Equity Component of New and Amended Debt	(2,839,602)
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	676,309
Balance at ending of period Notes payables	1,118,343
Tranche 3 [Member]
Balance at beginning of period Notes payables	9,680,433
Cash additions	0
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	0
Paid-In-Kind Interest Capitalized	685,198
Net Effect on Debt from Extinguishment	497,175
Net Effect on Equity Component of New and Amended Debt	(1,454,451)
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	241,271
Balance at ending of period Notes payables	9,649,626
Tranche 2 [Member]
Balance at beginning of period Notes payables	25,352,687
Cash additions	0
Repayments	0
Fees Capitalized to Debt Related to Debt Modifications	0
Paid-In-Kind Interest Capitalized	1,769,530
Net Effect on Debt from Extinguishment	962,750
Net Effect on Equity Component of New and Amended Debt	(3,412,171)
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	566,800
Balance at ending of period Notes payables	25,239,596
Tranche 1 [Member]
Balance at beginning of period Notes payables	102,833,447
Cash additions	0
Repayments	(8,000,000)
Fees Capitalized to Debt Related to Debt Modifications	0
Paid-In-Kind Interest Capitalized	7,076,486
Net Effect on Debt from Extinguishment	4,812,996
Net Effect on Equity Component of New and Amended Debt	(13,190,673)
Cash Paid for Debt Issuance Costs	0
Amortization of Debt Discounts	2,185,753
Balance at ending of period Notes payables	95,718,009
Senior Secured Convertible, Total [Member]
Balance at beginning of period Notes payables	166,368,463
Cash additions	5,468,565
Repayments	(8,000,000)
Fees Capitalized to Debt Related to Debt Modifications	1,531,436
Paid-In-Kind Interest Capitalized	12,578,272
Net Effect on Debt from Extinguishment	9,073,362
Net Effect on Equity Component of New and Amended Debt	(32,334,680)
Cash Paid for Debt Issuance Costs	(175,000)
Amortization of Debt Discounts	5,081,747
Balance at ending of period Notes payables	$ 159,592,165

SENIOR SECURED CONVERTIBLE CR_5

SENIOR SECURED CONVERTIBLE CREDIT FACILITY (Details Narrative ) - USD ($)	Sep. 14, 2020	Sep. 16, 2020	Dec. 26, 2020	Sep. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 26, 2020	Dec. 28, 2019
Exercise price	$ 0.20
conversion price	$ 0.20	$ 0.17
Convertible notes	$ 468,564			$ 32,744,770
Secured convertible notes	$ 5,000,000			$ 6,723,954
Loss on Extinguishment of Debt			$ 943,706		$ 660,119		$ 11,073,361	$ 32,230,235
Amendment fee						$ 834,000
GGP [Member]
Exercise price	$ 0.20
conversion price	$ 0.20
Secured convertible notes	$ 5,000,000
Description of Note	The conversion price for 5.0% of the existing Notes outstanding prior to Tranche 4 and Incremental Advance (including paid-in-kind interest accrued on such Notes), being 5.0% of an aggregate principal amount of $170,729,923, was amended to $0.20 per share.
Warrant Issued	25,000,000
Cancelled Shares	1,080,255
Warrants replaced	16,875,001
November 1, 2020 [Member]
Amount of borrowing under convertible facility			8,000,000			$ 8,000,000	$ 8,000,000
Loss on Extinguishment of Debt			$ 943,706
On July 2, 2020[Member] | GGP [Member]
conversion price				$ 0.28
Secured convertible notes				$ 5,000,000
Loss on Extinguishment of Debt				$ 10,129,655
Description of Interest				The payment-in-kind feature on the Convertible Facility was also extended, such that 100% of the cash interest due prior to June 2021 will be paid-in-kind and 50% of the cash interest due thereafter will be paid-in-kind.
Description of Amendments Penalty				the Convertible Facility with a 5% prepayment penalty until 2nd anniversary of the Fourth Amendment and 3% prepayment penalty thereafter.
Amendment fee				$ 2,000,000
Description Of Amendments				the conversion price for 52% of the tranches 1 through 3 and the first amendment fee notes outstanding under the Convertible Facility were amended to $0.34 per share

SHAREHOLDERS EQUITY (Details)

SHAREHOLDERS EQUITY (Details)	6 Months Ended
	Dec. 26, 2020shares
Subordinate Voting Shares [Member]
Shares issued and outstanding, Beginning of the period	403,907,218
Cancellation of Super Voting Shares
Shares Issued to Settle Accounts Payable and Liabilities	7,205,754
Redemption of MedMen Corp Redemable Shares	88,945,434
Shares Issued for Vested Restricted Stock Units	7,173,256
Shares Issued for Acquisition Costs	2,082,890
Stock Grant for Compensation	3,001,282
Shares issued and outstanding, End of the period	512,315,834
Super Voting Shares [Member]
Shares issued and outstanding, Beginning of the period	815,295
Cancellation of Super Voting Shares	(815,295)
Shares Issued to Settle Accounts Payable and Liabilities	0
Redemption of MedMen Corp Redemable Shares	0
Shares Issued for Vested Restricted Stock Units	0
Shares Issued for Acquisition Costs	0
Stock Grant for Compensation	0
Shares issued and outstanding, End of the period	0
MM Enterprises USA Common Units [Member]
Shares issued and outstanding, Beginning of the period	725,016
Cancellation of Super Voting Shares	0
Shares Issued to Settle Accounts Payable and Liabilities	0
Redemption of MedMen Corp Redemable Shares	0
Shares Issued for Vested Restricted Stock Units	0
Shares Issued for Acquisition Costs	0
Stock Grant for Compensation	0
Shares issued and outstanding, End of the period	725,016
MM CAN USA Class B Reedemable Units [Member]
Shares issued and outstanding, Beginning of the period	236,123,851
Cancellation of Super Voting Shares	0
Shares Issued to Settle Accounts Payable and Liabilities	0
Redemption of MedMen Corp Redemable Shares	(88,945,434)
Shares Issued for Vested Restricted Stock Units	0
Shares Issued for Acquisition Costs	0
Stock Grant for Compensation	0
Shares issued and outstanding, End of the period	147,178,417

SHAREHOLDERS EQUITY (Details 1)

SHAREHOLDERS EQUITY (Details 1) - USD ($)	6 Months Ended	12 Months Ended
	Dec. 26, 2020	Jun. 27, 2020
Current Assets	$ 68,321,694	$ 84,043,732
Current Liabilities	220,443,325	189,214,893
Total Liabilities	750,472,092	751,152,054
VIEs, Total [Member]
Current Assets	2,384,678	8,683,444
Non-Current Assets	21,592,928	25,159,815
Total Assets	23,977,606	33,843,259
Current Liabilities	16,651,235	24,058,824
Non-Current Liabilities	12,919,590	15,004,985
Total Liabilities	29,570,825	39,063,809
Non-Controlling Interest	(5,593,219)	(5,220,550)
Revenues	10,947,859	24,926,268
Net (Loss) Income Attributable to Non-Controlling Interest	(377,334)	(6,766,170)
Venice Caregivers Foundation, Inc. [Member]
Current Assets	772,010	1,233,188
Non-Current Assets	13,461,338	16,867,824
Total Assets	14,233,348	18,101,012
Current Liabilities	12,147,006	12,831,161
Non-Current Liabilities	9,214,775	11,196,585
Total Liabilities	21,361,781	24,027,746
Non-Controlling Interest	(7,128,433)	(5,926,734)
Revenues	4,398,883	10,949,458
Net (Loss) Income Attributable to Non-Controlling Interest	(1,203,248)	(6,132,528)
Natures Cure, Inc. [Member]
Current Assets	10,407,949	6,639,231
Non-Current Assets	5,002,478	5,032,428
Total Assets	15,410,427	11,671,659
Current Liabilities	5,070,565	3,745,710
Non-Current Liabilities	1,146,329	1,146,322
Total Liabilities	6,216,894	4,892,032
Non-Controlling Interest	9,193,533	6,779,627
Revenues	6,549,799	13,976,810
Net (Loss) Income Attributable to Non-Controlling Interest	2,413,906	3,143,437
LAX Fund 2 Group, L.L.C [Member]
Current Assets	(8,795,281)	811,025
Non-Current Assets	3,129,112	3,259,563
Total Assets	(5,666,169)	4,070,588
Current Liabilities	(566,336)	7,481,953
Non-Current Liabilities	2,558,486	2,662,078
Total Liabilities	1,992,150	10,144,031
Non-Controlling Interest	(7,658,319)	(6,073,443)
Revenues	(823)	0
Net (Loss) Income Attributable to Non-Controlling Interest	$ (1,587,992)	$ (3,777,079)

SHAREHOLDERS EQUITY (Details 2)

SHAREHOLDERS EQUITY (Details 2) - USD ($)	6 Months Ended
	Dec. 26, 2020	Dec. 26, 2020	Dec. 28, 2019
Deferred Tax Impact on Conversion Feature		$ 11,233,284	$ 260
Natures Cure, Inc. [Member]
Shares issued and Redeemable, Beginning of the period	$ 6,779,627
Net Income (Loss)	2,413,906
Equity Component on Debt and Debt Modification	$ 0
Redemption of MedMen Crop Redeemable Shares	0
Shares issued and Redemption, End of the period	$ 9,193,533	9,193,533
LAX Fund 2 Group, L.L.C [Member]
Shares issued and Redeemable, Beginning of the period	(6,070,327)
Net Income (Loss)	(1,587,992)
Equity Component on Debt and Debt Modification	$ 0
Redemption of MedMen Crop Redeemable Shares	0
Shares issued and Redemption, End of the period	$ (7,658,319)	(7,658,319)
Venice Caregivers Foundation, Inc. [Member]
Shares issued and Redeemable, Beginning of the period	(5,925,185)
Net Income (Loss)	(1,203,248)
Equity Component on Debt and Debt Modification	$ 0
Redemption of MedMen Crop Redeemable Shares	0
Shares issued and Redemption, End of the period	$ (7,128,433)	(7,128,433)
Other Non-Controlling Interests, Total [Member]
Shares issued and Redeemable, Beginning of the period	(336,777,697)
Net Income (Loss)	(30,092,996)
Equity Component on Debt and Debt Modification	4,055,133
Deferred Tax Impact on Conversion Feature	$ (1,210,052)
Redemption of MedMen Crop Redeemable Shares	(48,580,443)
Shares issued and Redemption, End of the period	$ (412,606,055)	(412,606,055)
Other Non Controlling Interests [Member]
Shares issued and Redeemable, Beginning of the period	(331,561,812)
Net Income (Loss)	(29,715,662)
Equity Component on Debt and Debt Modification	4,055,133
Deferred Tax Impact on Conversion Feature	$ (1,210,052)
Redemption of MedMen Crop Redeemable Shares	(48,580,443)
Shares issued and Redemption, End of the period	$ (407,012,836)	$ (407,012,836)

SHAREHOLDERS EQUITY (Details Na

SHAREHOLDERS EQUITY (Details Narrative) - USD ($)	6 Months Ended
	Dec. 26, 2020	Jun. 27, 2020
Non-controlling interest, shares issued	1.40%
MM CAN USA [Member]
Non-controlling interest, shares issued	22.32%	36.89%
MM Enterprises USA Common Units [Member]
Non-controlling interest, shares issued	0.11%	0.11%
Super Voting Shares [Member]
Cancellation of Super Voting Shares	(815,295)
December 10, 2020 [Member] | Super Voting Shares [Member]
Mezzanine equity, reduction in book value	$ 82,500
Cancellation of Super Voting Shares	815,295

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
INTANGIBLE ASSETS
Stock Options	$ 1,537,682	$ 967,231	$ 2,546,220	$ 2,654,504
LTIP Units	0	479,528	0	1,313,059
Stock Grants for Services	(60,357)	1,524,698	121,232	1,889,646
Restricted Stock Grants	279,909	1,130,018	437,386	2,810,643
Total Share-Based Compensation	$ 1,757,234	$ 4,101,475	$ 3,104,838	$ 8,667,852

SHARE-BASED COMPENSATION (Det_2

SHARE-BASED COMPENSATION (Details 1)	6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019
INTANGIBLE ASSETS
Weighted Average Risk Free Annual Interest Rate	1.05%	1.70%
Weighted Average Expected Annual Dividend Yield	0.00%	0.00%
Weighted Average Expected Stock Price Volatility	116.50%	85.10%
Weighted-Average Expected Life in Years	7 years 5 months 30 days	7 years 5 months 30 days
Weighted-Average Estimated Forfeiture Rate	40.00%	40.00%

SHARE-BASED COMPENSATION (Det_3

SHARE-BASED COMPENSATION (Details 2)	Dec. 26, 2020$ / sharesshares
INTANGIBLE ASSETS
Number of Stock Options, Beginning Balance	8,618,204
Number of Stock Options, Granted	7,318,669
Number of Stock Options, Forfeited	(1,051,917)
Number of Stock Options, Ending Balance	14,884,956
Weighted Average Exercise Price, Beginning Balance | $ / shares	$ 2.78
Weighted Average Exercise Price, Granted | $ / shares	0.17
Weighted Average Exercise Price, Forfeited | $ / shares	(3)
Weighted Average Exercise Price, Ending Balance | $ / shares	$ 1.48
Number of Stock Option Exerciable, Beginning Balance	4,248,393
Number of Stock Option Exerciable, Granted	8,257,087
Number of Stock Option Exerciable, Forfeited
Number of Stock Option Exerciable, Ending Balance	12,505,480
Weighted Average Exerciable Price, Beginning Balance | $ / shares	$ 2.78
Weighted Average Exerciable Price, Granted | $ / shares	0.36
Weighted Average Exerciable Price, Ending Balance | $ / shares	$ 1.42

SHARE-BASED COMPENSATION (Det_4

SHARE-BASED COMPENSATION (Details 3)	Dec. 26, 2020$ / sharesshares
INTANGIBLE ASSETS
LTIP Issued And Outstanding	19,323,878
LIC Redeemable Units	725,016
Weighted Average grant date fair Value | $ / shares	$ 0.52

SHARE-BASED COMPENSATION (Det_5

SHARE-BASED COMPENSATION (Details 4) - Share Based Compensation [Member]	6 Months Ended
	Dec. 26, 2020$ / sharesshares
Issued And Outstanding Beginning Balance | shares	1,283,567
Issued And Outstanding, Settled | shares	(1,283,567)
Issued And Outstanding, Ending Balance | shares	0
Weighted Average Fair Value, Begning Balance | $ / shares	$ 0.38
Weighted Average fair Value, Settled | $ / shares	(0.38)
Weighted Average Fair Value, Ending Balance | $ / shares	$ 0

SHARE-BASED COMPENSATION (Det_6

SHARE-BASED COMPENSATION (Details 5)	6 Months Ended
	Dec. 26, 2020$ / sharesshares
INTANGIBLE ASSETS
Issued And Outstanding, Beginning Balance	7,159,164
Issued And Outstanding, Granted	27,508,063	[1]
Issued And Outstanding, Forfeiture of Restricted Stock	(2,156,155)	[2]
Issued And Outstanding, Redemption of Vested Stock	(7,173,258)
Issued And Outstanding, Vesting of Restricted Stock
Issued And Outstanding, Ending Balance	25,337,814
Vested, Beginning Balance	192,459
Vested, Granted
Vested, Forfeiture of Restricted Stock
Vested, Redemption of Vested Stock	(7,173,258)
Vested, Vesting of Restricted Stock	7,584,358
Vested, Ending Balance	603,559
Weighted Average fair Value Beginning Balance | $ / shares	$ 0.68
Weighted Average fair Value, Granted | $ / shares	0.16
Weighted Average fair Value, Forfeiture of Restricted Stock | $ / shares	(0.15)
Weighted Average fair Value, Redemption of Vested Stock | $ / shares	(0.18)
WeightedAverage Fair Value, Vesting of Restricted Stock | $ / shares	0.18
WeightedAverage Fair Value, Ending Balance | $ / shares	$ 0.30
[1]	(1) Issued on December 11, 2020 to certain officers and employees of the Company and vest 37.5%, 12.5%, 37.5%, 12.5% on the 1st, 2nd, 3rd and 4th anniversary, respectively.
[2]	(2) 2,156,155 of the restricted stock grants were forfeited upon the resignation of certain employees prior to their vesting.

SHARE-BASED COMPENSATION (Det_7

SHARE-BASED COMPENSATION (Details 6) - Warrant [Member]	6 Months Ended
	Dec. 26, 2020$ / sharesshares
Beginning Balance	155,454,646
Issued	261,814,068
Cancelled	(41,535,957)
Ending Balance	375,732,757
Weighted Average Exercise Price, Beginning balance | $ / shares	$ 0.71
Weighted Average Exercise Price, issued | $ / shares	0.18
Weighted Average Exercise Price, Cancelled | $ / shares	(0.50)
Weighted Average Exercise Price, Ending | $ / shares	$ 0.36
MedMax Corp Redeemable Shares [Member]
Beginning Balance	40,455,731
Issued	147,508,516
Cancelled	(40,455,731)
Ending Balance	147,508,516
Subordinate Voting Shares [Member]
Beginning Balance	114,998,915
Issued	114,305,552
Cancelled	(1,080,226)
Ending Balance	228,224,241

SHARE-BASED COMPENSATION (Det_8

SHARE-BASED COMPENSATION (Details 7)	6 Months Ended	12 Months Ended
	Dec. 26, 2020	Jun. 27, 2020
INTANGIBLE ASSETS
Weighted Average Risk Free Annual Interest Rate	0.13%	2.20%
Weighted Average Expected Annual Dividend Yield	0.00%	0.00%
Weighted Average Expected Stock Price Volatility	92.06%	88.19%
Weighted Average Expected Life OF Warrants	1 year	1 year

SHARE-BASED COMPENSATION (Det_9

SHARE-BASED COMPENSATION (Details 8)	1 Months Ended
	Dec. 17, 2020
INTANGIBLE ASSETS
Weighted Average Risk Free Annual Interest Rate	0.09%
Weighted Average Expected Annual Dividend Yield	0.00%
Weighted Average Expected Stock Price Volatility	91.82%
Weighted Average Expected Life of Warrants	1 year

SHARE-BASED COMPENSATION (De_10

SHARE-BASED COMPENSATION (Details Narrative) - USD ($)	2 Months Ended	3 Months Ended	6 Months Ended	12 Months Ended
	Aug. 30, 2020	Dec. 26, 2020	Dec. 26, 2020	Jun. 27, 2020
Exercise price Maturity date			10 years
Restricted Voting Shares			27,508,063
Cancelable Warrants			55,817,248
Redeemable shares exercise price expire date		Oct. 30, 2025	Oct. 30, 2025
Voting shares exercise price expire date			Jul. 2, 2025
Warrants outstanding contractual life			4 years	4 years
DSU [Member]
Deferred stock units issued and outstanding			0	1,283,567
Voting Shares Service Amount	$ 250,000
compensation expense		$ 0	$ 0
Warrants [Member] | MedMen Corp Redeemable Shares [Member]
Exercise price			$ 0.34
Warrant issued			40,455,726
Subordinate Voting Shares [Member] | Warrants [Member]
Exercise price			$ 0.20
Warrant issued			41,875,000
Subordinate Voting Shares [Member] | Warrant Six [Member]
Exercise price			$ 0.15
Warrant issued			54,670,338
Subordinate Voting Shares [Member] | Warrant Five [Member]
Exercise price			$ 0.18
Warrant issued			3,597,000
Subordinate Voting Shares [Member] | Warrant Four [Member]
Exercise price			$ 0.17
Warrant issued			3,592,326
Subordinate Voting Shares [Member] | Warrant Three [Member]
Exercise price			$ 0.17
Warrant issued			3,777,475
Subordinate Voting Shares [Member] | Warrant Two [Member]
Exercise price			$ 0.34
Warrant issued			3,500,000
Subordinate Voting Shares [Member] | Warrant One [Member]
Exercise price			$ 0.21
Warrant issued			3,293,413
MedMax Corp Redeemable Shares [Member] | Warrant Two [Member]
Exercise price			$ 0.20
Warrant issued			777,052,790
MedMax Corp Redeemable Shares [Member] | Warrant One [Member]
Exercise price			$ 0.20
Warrant issued			30,000,000

LOSS PER SHARE (Details)

LOSS PER SHARE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
LOSS PER SHARE
Net Loss from Continuing Operations Attributable to Shareholders of MedMen Enterprises, Inc.	$ (50,897,250)	$ (4,404,879)	$ (70,134,937)	$ (25,547,228)
Less: Deemed Dividend - Down Round Feature of Warrants	(1,480,716)	0	(6,364,183)	0
Net Loss from Continuing Operations Available to Shareholders of MedMen Enterprises, Inc.	(52,377,966)	(4,404,879)	(76,499,120)	(25,547,228)
Net Income (Loss) from Discontinued Operations	1,201,766	(36,845,653)	(1,480,409)	(39,926,048)
Total Net Loss	$ (51,176,200)	$ (41,250,532)	$ (77,979,529)	$ (65,473,276)
Weighted-Average Shares Outstanding - Basic and Diluted	482,903,106	220,467,070	452,806,117	196,211,921
Loss Per Share - Basic and Diluted:
From Continuing Operations Attributable to Shareholders of MedMex Enterprises, Inc.	$ (0.11)	$ (0.02)	$ (0.17)	$ (0.13)
From Discontinued Operations Attributable to Shareholders of MedMen Enterprises Inc.	$ 0	$ (0.17)	$ 0	$ (0.20)

GENERAL AND ADMINISTRATIVE EX_3

GENERAL AND ADMINISTRATIVE EXPENSES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 26, 2020	Dec. 28, 2019
Total General and Administrative Expenses	$ 33,568,436	$ 60,318,947		$ 65,252,040	$ 114,413,896
General And Administrative Expenses [Member]
Professional Fees	9,601,502	23,614,626	$ 19,642,206		44,515,961
Salaries and Benefits	3,602,429	5,142,056	7,201,764		10,427,325
Rent	8,977,156	9,274,734	17,584,889		16,409,249
Licenses, Fees and Taxes	1,713,267	5,857,171	4,964,145		8,179,070
Other General and Administrative Expenses	9,674,082	16,430,360	15,859,036		34,882,291
Total General and Administrative Expenses	$ 33,568,436	$ 60,318,947	$ 65,252,040		$ 114,413,896

OTHER OPERATING EXPENSE (Detail

OTHER OPERATING EXPENSE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
GENERAL AND ADMINISTRATIVE EXPENSES
Loss on Disposals of Assets	$ 527,944	$ 1,088,299	$ 384,577	$ 226,335
Restructuring and Reorganization Expense	591,488	5,284,661	1,180,410	5,636,590
Loss on Settlement of Accounts Payable	1,186,333	0	1,025,688	0
Gain on Lease Terminations	(1,279,533)	(23,815)	(17,908,817)	(217,127)
Other Income	(250,336)	(643,737)	(603,823)	(638,352)
Total Other Operating Expense (Income)	$ 775,896	$ 5,705,408	$ (15,921,965)	$ 5,007,446

REALIZED AND UNREALIZED LOSS _3

REALIZED AND UNREALIZED LOSS (GAIN) ON INVESTMENTS AND ASSETS HELD FOR SALE (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
REALIZED AND UNREALIZED LOSS (GAIN) ON INVESTMENTS AND ASSETS HELD FOR SALE
Loss (Gain) on Assets Held for Sale	$ 1,960,871	$ (3,000)	$ (10,454,608)	$ 0
Gain on Changes in Fair Value of Investments	0	(5,031,158)	0	(16,514,480)
Tota Realized and Unrealized Loss (Gain) on Investments and Assets Held for Sale	$ 1,960,871	$ (5,034,158)	$ (10,454,608)	$ (16,514,480)

PROVISION FOR INCOME TAXES AN_3

PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 28, 2019
PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES
Loss from Continuing Operations Before Provision for Income Taxes	$ (46,092,236)	$ (71,051,659)	$ (65,918,902)	$ (148,430,669)
Income Tax (Expense) Benefit	$ (23,970,469)	$ 14,649,487	$ (34,309,031)	$ 32,310,218
Effective Tax Rate	(52.04%)	20.87%	(52.04%)	20.87%

PROVISION FOR INCOME TAXES AN_4

PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES (Details Narrative)	6 Months Ended
	Dec. 26, 2020USD ($)
PROVISION FOR INCOME TAXES AND DEFERRED INCOME TAXES
Net operating losses	$ 76,700,000
Unrealized net operating loss	$ 2,500,000
Expiring term	2038

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details Narrative) - USD ($)	6 Months Ended
	Dec. 26, 2020	Jul. 31, 2018
Legal claim damages		$ 2,200,000
February 2020 [Member]
Payments for Legal Disputes Settlements	$ 2,400,000

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Amounts due from related parties	$ 3,109,717	$ 3,109,717
MedMen Opportunity Fund GP LLC [Member]
Amounts due from related parties	1,289,513	1,289,513
MMOF GP II, LLC [Member]
Amounts due from related parties	$ 1,820,204	$ 1,820,204

RELATED PARTY TRANSACTIONS (D_2

RELATED PARTY TRANSACTIONS (Details 1) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Amounts due to related parties	$ 4,374,727	$ 4,556,814
Fund I.P II [Member]
Amounts due to related parties	(1,093,896)	(1,093,896)
Fund I.P [Member]
Amounts due to related parties	(1,986,697)	(1,986,697)
Other [Member]
Amounts due to related parties	(1,294,134)	(1,476,221)
Related Party Transactions [Member]
Amounts due to related parties	$ (4,374,727)	$ (4,556,814)

RELATED PARTY TRANSACTIONS (D_3

RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)	6 Months Ended
	Dec. 26, 2020	Aug. 31, 2020	Dec. 11, 2019
Restructuring support fees paid	$ 844,042
Amendement description	Pursuant to the Side Letter executed on October 29, 2019 in conjunction with the second amendment of the Convertible Facility with GGP, Wicklow Capital and GGP have the right to nominate a majority of the Company’s Board of Directors while the aggregate principal amount outstanding under the Convertible Facility is more than $25,000,000.
Mr. Rose [Member]
Deferred stock granted		102,519	815,295
Stock option received	124,868
Board of Director [Member]
Legal fees	$ 200,000

DISCONTINUED OPERATIONS (Detail

DISCONTINUED OPERATIONS (Details) - USD ($)	3 Months Ended		6 Months Ended
	Dec. 26, 2020	Dec. 28, 2019	Dec. 26, 2020	Dec. 26, 2020	Dec. 28, 2019
Revenue	$ 33,775,662	$ 44,065,882		$ 69,401,630	$ 83,735,878
Cost of goods sold	278,719	406,103	$ 558,250		1,348,645
Gross Profit	17,943,605	12,826,973		34,767,663	32,219,149
Expenses:
General and Administrative	33,568,436	60,318,947		65,252,040	114,413,896
Sales and Marketing	217,254	3,609,997		410,639	9,392,777
Depreciation and Amortization	6,023,730	3,705,231		9,376,584	7,065,198
Total Expenses	44,354,733	81,492,875		69,252,112	152,440,877
Loss from Operations	(26,411,128)	(68,665,902)		(34,484,449)	(120,221,728)
Other Expense (Income):
Other Expense	19,681,108	2,385,757		$ 31,434,453	28,208,941
Loss on Discontinued Operations Before Provision for Income Taxes	(46,092,236)	(71,051,659)	(65,918,902)		(148,430,669)
Income (Loss) on Discontinued Operations	1,201,766	(36,845,653)	(1,480,409)		(39,926,048)
Arizona [Member]
Revenue	1,741,505	4,276,771	3,341,495		8,581,520
Cost of goods sold	1,223,372	2,054,833	2,492,124		5,935,439
Gross Profit	518,133	2,221,938	849,371		2,646,081
Expenses:
General and Administrative	718,101	1,961,132	1,694,712		3,784,884
Sales and Marketing	10,600	42,057	17,101		43,005
Depreciation and Amortization	32,060	662,393	81,202		1,161,721
Impairment Expense	0	46,702,659	0		46,702,659
Total Expenses	760,761	49,368,241	1,793,015		51,692,269
Loss from Operations	(242,628)	(47,146,303)	(943,644)		(49,046,188)
Other Expense (Income):
Other Expense	(34,391)	232	2,665		5,592
Total Other Expense	(34,391)	232	2,665		5,592
Loss on Discontinued Operations Before Provision for Income Taxes	(208,237)	(47,146,535)	(946,309)		(49,051,780)
Provision for Income Tax Benefit (Expense)	1,410,003	10,300,882	(534,100)		9,125,732
Income (Loss) on Discontinued Operations	$ 1,201,766	$ (36,845,653)	$ (1,480,409)		$ (39,926,048)

DISCONTINUED OPERATIONS (Deta_2

DISCONTINUED OPERATIONS (Details 1) - USD ($)	Dec. 26, 2020	Jun. 27, 2020
Carraying Amounts of the Assets Included in Discontinued Operations:
Inventory	$ 25,495,872	$ 22,638,120
Other Current Assets	5,733,682	9,105,457
Property and Equipment, Net	152,427,173	174,547,867
Operating Lease Right-of-Use Assets	98,236,694	116,354,828
Other Assets	17,137,917	17,374,997
TOTAL ASSETS OF THE DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE	503,565,094	574,263,604
Carraying Amounts of the Liabilities Included in Discontinued Operations:
Income Taxes Payable	86,342,631	38,599,349
Total Accounts Payable and Accrued Liabilities	13,462,163	20,278,381
Current Portion of Operating Lease Liabilities	5,882,032	9,757,669
Operating Lease Liabilities, Net of Current Portion	116,211,645	131,045,238
Total Liabilities	750,472,092	751,152,054
Arizona [Member]
Carraying Amounts of the Assets Included in Discontinued Operations:
Cash and Cash Equivalents	148,106	522,966
Accounts Receivable	386,391	274,886
Prepaid Expenses	124,262	74,622
Inventory	1,663,909	3,323,978
Other Current Assets	48,736	64,600
Property and Equipment, Net	2,548,041	4,288,808
Operating Lease Right-of-Use Assets	4,998,953	5,257,327
Intangible Assets, Net	3,756,780	7,260,288
Other Assets	4,860	113,576
TOTAL ASSETS OF THE DISPOSAL GROUP CLASSIFIED AS HELD FOR SALE	13,680,038	24,181,051
Carraying Amounts of the Liabilities Included in Discontinued Operations:
Accounts Payable and Accrued Liabilities	1,069,500	2,126,162
Income Taxes Payable	1,803,056	946,679
Total Accounts Payable and Accrued Liabilities	13,015	22,747
Current Portion of Operating Lease Liabilities	173,929	385,699
Operating Lease Liabilities, Net of Current Portion	4,941,099	5,300,936
Deferred Tax Liabilities	1,325,032	6,278,079
Total Liabilities	$ 9,325,631	$ 15,060,303

DISCONTINUED OPERATIONS (Deta_3

DISCONTINUED OPERATIONS (Details Narrative) - USD ($)	6 Months Ended
	Dec. 26, 2020	Jun. 29, 2020
DISCONTINUED OPERATIONS
Gross proceeds from operations		$ 9,000,000
Sales price	$ 25,150,000
Loss upon sale of membership interests	$ 1,628,124

SUBSEQUENT EVENTS (Details Narr

SUBSEQUENT EVENTS (Details Narrative) - USD ($)	Jan. 11, 2021	Dec. 31, 2020	Feb. 16, 2021	Jan. 29, 2021	Dec. 26, 2020	Dec. 17, 2020
Cancelable Warrants					55,817,248
Tranche 4 [Member]
Unsecured convertible facility						$ 1,000,000
Subsequent Event [Member]
Exercise price of warrants	$ 0.16
Exercisable warrants issued	62,174,567
Total investement price		$ 73,000,000
Minimum liquidity description	Reset the minimum liquidity threshold to $7,500,000 effective on July 1, 2021 through December 31, 2021, and $15,000,000 thereafter, and waiver of the minimum liquidity covenant if the Company is current on cash interest.
Subsequent Event [Member] | February 2021 Private Placement [Member]
Exercise price of warrants			$ 0.46
Issuance of subordinate voting share			7,800,000
Proceeds from Issuance of Private Placement			$ 2,896,315
Purchase price per unit			$ 0.37
Subsequent Event [Member] | Securities Purchase Agreement [Member]
Conversion price	$ 0.16
Issuance of subordinate voting share	1,000,000
Fees paid to lender	$ 937,127
Subsequent Event [Member] | Tranche 4 [Member] | Fifth Amendment [Member]
Exercise price	$ 0.16
Incremental term loan	$ 47,100,000
Remaining notes subjest to down roung adjustment provisions	16,800,000
Senior secured convertible notes	$ 168,100,000
Conversion price	$ 0.17
Cancelable Warrants	2,160,507
Warrants issued upon cancelled shares	41,967,832
Subsequent Event [Member] | Tranche 5 [Member]
Conversion price				$ 0.16
Exercise price of warrants				$ 0.19
Exercisable warrants issued				3,355,000
Unsecured convertible facility				$ 1,000,000