Posted on by

GREEN THUMB INDUSTRIES INC. QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020

TRADELABOR has more than 20 years of experience in the control and treatment of air, working with an experienced and qualified technical staff and with the most advanced technology in this area, which together guarantee the quality of the services provided.

 

 

Overview and Basis of Presentation
(a) Description of Business
Green Thumb Industries Inc. (“Green Thumb” or the “Company”) is promoting well-being through the power of cannabis through branded consumer packaged goods and people-first retail experiences, while being committed to community and sustainable profitable growth. Green Thumb owns,
manufactures, and distributes a portfolio of cannabis consumer packaged goods brands including Beboe, Dogwalkers, Dr. Solomon’s, incredibles, Rythm and The Feel Collection, primarily to third-party retail stores across the United States as well as to Green Thumb owned retail stores. The Company also
owns and operates retail cannabis stores that include a rapidly growing national chain of retail cannabis stores called Risetm and a Las Vegas, Nevada area chain of retail cannabis stores called Essence. As of March 31, 2020, Green Thumb has operating revenue in twelve markets (California, Colorado, Connecticut, Florida, Illinois, Maryland, Massachusetts, Nevada, New Jersey, New York, Ohio, and Pennsylvania).

On June 12, 2018, the Company completed a reverse takeover transaction (“RTO”) as further described in Note 3 of Green Thumb’s Annual Report on Form 10-K for the year ended December 31, 2019 filed with the SEC on April 15, 2020 (“2019 Form 10-K”). Following the RTO, the Company was listed
on the Canadian Securities Exchange (the “CSE”) under ticker symbol “GTII” and on the OTCQX, part of the OTC Markets Group, under the ticker “GTBIF”.

The Company’s registered office is located at 885 West Georgia Street, Suite 2200, Vancouver, British Columbia, V6C 3E8, Canada. The Company’s U.S.
headquarters are at 325 W. Huron St., Suite 412, Chicago, IL 60654.

(b) Basis of Presentation
The accompanying unaudited condensed consolidated financial statements include the accounts of Green Thumb Industries Inc. and have been prepared in accordance with accounting principles generally accepted in the United States (“GAAP”) for interim financial information and in accordance
with the rules and regulations of the SEC. Accordingly, they do not include all of the information and footnotes required by GAAP for complete financial statements and, 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. The financial data presented herein should be read in conjunction with the audited consolidated and combined financial statements and accompanying notes included in the 2019 Form 10-K. In the opinion of management, the financial data presented includes all adjustments necessary to present fairly the financial position, results of operations and cash flows for the interim periods presented. Results of interim periods should not be considered indicative of the results for the full year. These unaudited condensed consolidated interim financial statements include estimates and assumptions of management that affect the amounts reported in the unaudited condensed
consolidated financial statements. Actual results could differ from these estimates.

The results of operations for the three months ended March 31, 2020 are not necessarily indicative of the results to be expected for the entire year ending December 31, 2020.

(c) Significant Accounting Policies
There have been no changes to the Company’s significant accounting policies as described in Note 2 of the Company’s 2019 Form 10-K.

(d) Loss per Share
Basic loss per share is calculated using the treasury stock method, by dividing the net loss attributable to shareholders by the weighted average number of common shares outstanding during each of the periods presented. Contingently issuable shares (including shares held in escrow) are not
considered outstanding common shares and consequently are not included in the loss per share calculations. Diluted loss per share is calculated by adjusting the weighted average number of common shares outstanding to assume conversion of all dilutive potential common shares. The Company has three categories of potentially dilutive common share equivalents: restricted stock units, stock options and warrants. At March 31, 2020, the Company had 5,974,938 options outstanding, 1,477,898 restricted stock units and 2,387,470 warrants outstanding. At March 31, 2019, the Company had 2,411,192 options outstanding, 1,585,000 restricted stock units outstanding and no warrants outstanding.

In order to determine diluted loss per share, it is assumed that any proceeds from the exercise of dilutive stock options would be used to repurchase common shares at the average market price during the period. The diluted loss per share calculation excludes any potential conversion of stock options and convertible debt that would decrease loss per share. As a result, the Company’s calculation of basic loss per share and diluted loss per share include the same number of share equivalents for three months ended March 31, 2020 and 2019.

Download PDF file

Continue at: https://d18rn0p25nwr6d.cloudfront.net/CIK-0001795139/d711db76-ee78-4a81-99d2-c85271bd8acf.pdf

 

The text above is owned by the site above referred.

Here is only a small part of the article, for more please follow the link

Also see:

www.manostaxx.com

 

Manostaxx
Manostaxx – Industrial Management Consulting

Published by admin

80 Replies to “GREEN THUMB INDUSTRIES INC. QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020”

  4. Thanks for a marvelous posting! I seriously enjoyed
    reading it, you are a great author. I will be sure to bookmark your blog and will
    often come back later on. I want to encourage one to continue your great posts, have a
    nice day!

    my web-site :: Flawless Lush

    Reply

  8. I’m really inspired along with your writing skills as neatly as with
    the structure on your weblog. Is that this a paid subject matter or did you customize it
    yourself? Anyway keep up the nice quality writing, it is rare to see a great blog like this one nowadays.

    my website – Luxy Care Reviews

    Reply

  9. This is really fascinating, You are a very professional
    blogger. I’ve joined your rss feed and sit up for in quest of extra of your fantastic post.
    Additionally, I’ve shared your web site in my social networks!

    Look into my webpage – HRD Surge Reviews

    Reply

  11. Definitely believe that which you said. Your favorite justification appeared to be on the internet the simplest
    thing to be aware of. I say to you, I definitely get irked while people consider worries that they plainly do not know
    about. You managed to hit the nail upon the top and also defined out the
    whole thing without having side-effects , people could take a signal.
    Will likely be back to get more. Thanks

    Look into my web blog Allanah Anti-Aging Serum

    Reply

  14. Hello there, just became alert to your blog through Google, and found that it is truly informative.
    I am gonna watch out for brussels. I?ll appreciate if you continue this in future.
    Many people will be benefited from your writing. Cheers!

    Feel free to visit my website :: Luxy Care Skin

    Reply

  15. I was curious if you ever thought of changing the layout of your site?
    Its very well written; I love what youve got
    to say. But maybe you could a little more in the way of content so people could connect with it better.
    Youve got an awful lot of text for only having 1 or two pictures.

    Maybe you could space it out better?

    My blog: Primrose Brightening Serum

    Reply

  20. Hello There. I discovered your blog the usage of msn. That is a really
    neatly written article. I’ll be sure to bookmark it and return to learn extra of your
    helpful info. Thank you for the post. I will definitely return.

    Feel free to visit my webpage SomerLift Reviews

    Reply

  27. May I simply say what a comfort to uncover someone
    that really understands what they are discussing on the net.
    You certainly know how to bring an issue to light
    and make it important. A lot more people need to check this out and understand this side of the story.
    I was surprised you aren’t more popular given that you certainly possess the
    gift.

    Feel free to visit my web site: http://allanahantiagingserum.com/

    Reply

  28. I really love your site.. Great colors & theme. Did you develop this amazing site yourself?

    Please reply back as I’m wanting to create my very own site and would like to find out where you got this
    from or just what the theme is named. Kudos!

    Feel free to surf to my site … Keto Octane Diet Pills

    Reply

  30. Right here is the perfect web site for anyone who wants
    to understand this topic. You understand so much its
    almost hard to argue with you (not that I really would want to?HaHa).
    You definitely put a new spin on a topic that’s been written about for many years.
    Excellent stuff, just great!

    Have a look at my web-site :: Hydra-E Face Cream Price

    Reply

  33. I simply wanted to post a quick remark to be able to appreciate you for some of the amazing tips and tricks you
    are writing at this site. My particularly long internet research has finally been honored with
    professional insight to write about with my family and friends.

    I ‘d claim that most of us visitors are very endowed to dwell in a perfect network with many brilliant people with useful hints.
    I feel somewhat lucky to have come across your webpage and look forward to many more awesome times reading here.

    Thank you again for all the details.

    Also visit my website :: http://allanahserum.org/

    Reply

  34. I love your blog.. very nice colors & theme. Did you create this website yourself or did
    you hire someone to do it for you? Plz answer back as I’m looking
    to design my own blog and would like to know where u got this from.
    many thanks

    my blog post … HydraCort Cream

    Reply

  44. You actually make it appear so easy together with your
    presentation but I find this topic to be actually one thing which I believe I might by no means understand.
    It sort of feels too complicated and extremely broad for me.
    I’m having a look ahead for your subsequent publish, I’ll try to get the cling of it!

    my web site – MariCanna Rx CBD Review

    Reply

  45. Hi just wanted to give you a brief heads up and let you know a few of the images aren’t
    loading properly. I’m not sure why but I think its a linking issue.
    I’ve tried it in two different internet browsers and both show the same outcome.

    Also visit my webpage – http://androxene.org/

    Reply

  51. Good day very cool site!! Man .. Excellent .. Amazing
    .. I will bookmark your web site and take the feeds additionally…I’m satisfied to find
    numerous useful information here in the put up, we’d like work out
    extra techniques on this regard, thank you for sharing.

    Have a look at my web page :: HRD Surge Reviews

    Reply

  55. An intriguing discussion is worth comment.
    There’s no doubt that that you need to write more about this topic, it might not be a taboo subject but usually people don’t speak
    about these topics. To the next! Best wishes!!

    My webpage :: Rapid KetoPure

    Reply

  62. Hi would you mind letting me know which hosting company you’re working with?
    I’ve loaded your blog in 3 completely different internet browsers and I must say this blog loads a lot faster
    then most. Can you recommend a good web hosting provider at a honest
    price? Cheers, I appreciate it!

    My web page … Rapid KetoPure

    Reply

  63. An impressive share! I’ve just forwarded this onto a co-worker who was doing a little research
    on this. And he in fact bought me lunch due to the fact that I discovered it
    for him… lol. So let me reword this…. Thanks for the meal!!
    But yeah, thanx for spending time to discuss this matter here on your web page.

    Feel free to visit my webpage … Maricanna Rx

    Reply

  76. I enjoy you because of all of your efforts on this website.
    Debby delights in carrying out research and it’s really simple to grasp why.
    A number of us notice all about the dynamic means you make simple guidelines through this web blog and therefore
    improve contribution from some other people
    about this point plus our princess is in fact discovering a lot of things.

    Have fun with the rest of the new year. You have been performing a first class job.[X-N-E-W-L-I-N-S-P-I-N-X]I’m really inspired together with your writing skills and also with the
    format in your weblog. Is this a paid theme or
    did you modify it your self? Either way stay up the nice high
    quality writing, it’s uncommon to peer a nice blog like this one
    nowadays.

    Here is my web-site … Wellness Pharmers CBD Oil

    Reply

  78. I do not leave many comments, however after browsing some of the comments here GREEN
    THUMB INDUSTRIES INC. QUARTERLY REPORT ON FORM 10-Q FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2020 | M A N O X B L O G.
    I actually do have a couple of questions for you
    if you do not mind. Could it be just me or do some of these remarks come across like they are written by brain dead visitors?
    😛 And, if you are writing at other social sites, I’d like to keep up
    with anything fresh you have to post. Could you post a list of every one of all your social community pages like your twitter feed, Facebook page or linkedin profile?

    Feel free to visit my web site: Missa Cream

    Reply

  80. the importance of human beings is something we care about and especially for young people today they can affect those who are in the world so we should value every child
    maybe many young people today are going to the wrong way of life so we should give them an attion because we just let them get them out of their way so we want to be united for the youth to talk to my site
    온라인카지노

    Reply

Leave a Reply to Luxy Care Review Cancel reply

Your email address will not be published. Required fields are marked *