v3.21.1
Consolidated Statements of Cash Flows - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Operating activities    
Net loss $ (176,332,658) $ (164,179,604)
Adjustments for:    
Acquisition costs associated with financing activities   129,235
Net fair value loss on financial liabilities 164,042,264 119,235,147
Stock-based compensation 31,156,759 28,879,225
Depreciation 4,720,198 2,172,373
Amortization on intangible assets 13,716,502 8,137,864
Share of loss on equity investments 33,591 72,600
Incremental costs to acquire cannabis inventory in a business combination   3,764,678
Fair value adjustment on sale of inventory 34,147,938 18,272,212
Unrealized gain on biological asset transformation (48,690,657) (10,108,105)
Deferred tax expense (benefit) 2,388,608 (3,892,570)
Amortization on financing costs 90,858  
Interest accrued 2,214,061 1,652,510
Changes in non-cash operations, net of business acquisition:    
Accounts receivable (843,162) (1,308,328)
Inventory and biological assets (8,876,748) (5,809,848)
Prepaid expenses and other assets (2,529,212) (1,459,072)
Trade payables 1,616,253 2,992,073
Accrued liabilities 3,274,488 (179,574)
Income tax payable 16,382,580 5,202,943
Cash provided by operating activities 36,511,663 3,573,759
Investing activities    
Transfer of restricted cash and short term investments held in escrow and interest income   99,684,243
Purchase of property, plant and equipment (14,367,690) (14,417,635)
Purchase of intangible assets (400,000)  
Deferred underwriters commission paid   (3,457,154)
Cash paid for business combinations and asset acquisitions, net of cash acquired (35,174,880) (74,714,171)
Cash paid for business combinations and asset acquisitions, bridge financing (8,040,804)  
Cash paid for business combinations and asset acquisitions, working capital (2,354,375) (547,042)
Payments for interests in equity accounted investments (109,700) (500,000)
Advances to related corporation (50,000) (809,191)
Deposits for business combinations (1,750,000)  
Cash (used in) provided by investing activities (62,247,449) 5,239,050
Financing activities    
Proceeds from exercise of Warrants 48,483,750 2,460,150
Proceeds from senior secured notes, net of financing costs 103,571,105  
Redemption of Class A shares   (7,519)
Repayments of debts payable (5,615,225) (2,879,329)
Repayments of lease obligations (principal portion) (1,557,445) (763,878)
Repurchase of Subordinate Voting Shares (311,430) (311,674)
Cash provided by (used in) financing activities 144,570,755 (1,502,250)
Net increase in cash 118,834,969 7,310,559
Effect of foreign currency translation   982,685
Cash and cash equivalents, beginning of the year 8,403,196 109,952
Cash and cash equivalents, end of the year 127,238,165 8,403,196
Supplemental disclosure of cash flow information:    
Interest paid during the year 2,526,294 1,679,612
Taxes paid during the year $ 5,594,181 $ 3,525,118