| | | | | | | | | | | | | | | | | | | | | | | | | |
| | | N.R.O | SoCal | 5042 | Estate | | | | | | ||||||||||||||
| | | LOB Group, | | Management, | | Hemp JV, | | Venice, | | Investment, | | Reeform, | | Lompoc TIC, | | | | |||||||
| | | Inc. | | LLC | | LLC | | LLC | | LLC | | LLC | | LLC | | TOTAL | ||||||||
| Balance December 31, 2021 | | $ | 2,761,141 | | $ | 2,018,949 | | $ | — | | $ | 2,221,520 | | $ | — | | $ | — | | $ | 194,749 | | $ | 7,196,359 |
| Additions | | — | | 300,000 | | 213,000 | | 343 | | 2,445,000 | | — | | — | | 2,958,343 | ||||||||
| Distribution | | — | | — | | — | | (3,001,871) | | — | | — | | — | | (3,001,871) | ||||||||
| Acquisition of Equity Method Investment | | | — | | | (900,000) | | | — | | | — | | | — | | | — | | | — | | | (900,000) |
| (Loss) Gain on Equity Method Investments | | (457,671) | | (1,418,949) | | (213,000) | | 780,008 | | (665,401) | | — | | (31,626) | | (2,006,639) | ||||||||
| Balance December 31, 2022 | | $ | 2,303,470 | | $ | — | | $ | — | | $ | — | | $ | 1,779,599 | | $ | — | | $ | 163,123 | | $ | 4,246,192 |
| Additions | | — | | — | | — | | — | | — | | 182,500 | | — | | 182,500 | ||||||||
| (Loss) Gain on Equity Method Investments | | (2,303,470) | | — | | — | | — | | 191,172 | | (18,265) | | 28,914 | | (2,101,649) | ||||||||
| Balance at December 31, 2023 | | $ | — | | $ | — | | $ | — | | $ | — | | $ | 1,970,771 | | $ | 164,235 | | $ | 192,037 | | $ | 2,327,043 |
| | | | | | | |
| | 2023 | 2022 | ||||
| | | | | | | |
| Land | | $ | 70,888,383 | | $ | 70,888,383 |
| Buildings | | 143,206,685 | | 140,042,534 | ||
| Furniture and Fixtures | | 827,273 | | 471,696 | ||
| Leasehold Improvements | | 14,680,328 | | 10,927,265 | ||
| Equipment and Software | | 9,497,864 | | 8,050,827 | ||
| Construction in Progress | | 10,166,294 | | 6,447,286 | ||
| | | | | | | |
| Total Property, Plant and Equipment | | 249,266,827 | | 236,827,991 | ||
| Less Accumulated Depreciation and Amortization | | (33,580,458) | | (20,397,067) | ||
| Property, Plant and Equipment, Net | | $ | 215,686,369 | | $ | 216,430,924 |
| | | | | | | | |
| | 2023 | 2022 | | ||||
| Balance at Beginning of Year | | $ | 14,656,666 | | $ | 38,428,700 | (i) |
| Contingent Shares Issued | | | (4,446,000) | (ii) | 5,460,000 | (ii) | |
| Change in Fair Value of Contingent Liabilities | | | 24,378,334 | | (29,232,034) | | |
| Balance at End of Year | | $ | 34,589,000 | | $ | 14,656,666 | |
| | | | | | | | | | | | | |
| | | Operating Leases | | Finance Leases | | | | |||||
| December 31: | Third Parties | Related Parties | Third Parties | Total | ||||||||
| 2024 | | $ | 1,399,456 | | $ | 979,393 | | $ | 575,578 | | $ | 2,954,427 |
| 2025 | | 1,399,104 | | 554,267 | | | 618,956 | | 2,572,327 | |||
| 2026 | | 1,372,745 | | 570,895 | | | 483,475 | | 2,427,115 | |||
| 2027 | | 1,126,862 | | 588,022 | | | 497,045 | | 2,211,929 | |||
| 2028 | | 537,353 | | 605,663 | | | 187,959 | | 1,330,975 | |||
| Thereafter | | 1,600,852 | | 2,320,941 | | | — | | 3,921,793 | |||
| Total Future Minimum Lease Payments | | 7,436,372 | | 5,619,181 | | | 2,363,013 | | 15,418,566 | |||
| Less Imputed Interest | | (2,132,007) | | (1,767,106) | | | (456,585) | | (4,355,698) | |||
| Present Value of Lease Liability | | 5,304,365 | | 3,852,075 | | | 1,906,428 | | 11,062,868 | |||
| Less Current Portion of Lease Liability | | (825,318) | | (627,154) | | | (386,779) | | (1,839,251) | |||
| Present Value of Lease Liability, Net of Current Portion | | $ | 4,479,047 | | $ | 3,224,921 | | $ | 1,519,649 | | $ | 9,223,617 |
| | | | | | |
| | | Weighted- | |||
| | | Number of Stock | | Average Exercise | |
| | | Options | | Price | |
| Balance as of December 31, 2021 | 2,087,784 | | $ | 2.78 | |
| Exercised | (227,116) | | $ | 2.30 | |
| Forfeited | (407,781) | | $ | 2.82 | |
| Balance as of December 31, 2022 | 1,452,887 | | $ | 2.84 | |
| Forfeited | | (17,093) | | $ | 2.77 |
| Balance as of December 31, 2023 | 1,435,794 | | $ | 2.84 | |
