Post-effective amendment to a registration statement that is not immediately effective upon filing

Inventories, Net

v3.23.1
Inventories, Net
 12 Months Ended
Dec. 31, 2022
Inventory Disclosure [Abstract]  
INVENTORIES, NET

5.      INVENTORIES, NET

Inventories are comprised of the following items as of the periods presented:

 

December 31,
2022

  

December 31,
2021

Raw materials

  

$

1,204

  

$

1,477

Work in progress – cultivated cannabis

  

 

—

  

 

1,241

Work in progress – harvested cannabis and extracts

  

 

21

  

 

1,070

Finished goods – cannabis extracts

  

 

6,703

  

 

11,432

Finished goods – other

  

 

471

  

 

188

Total

  

$

8,399

  

$

15,408

During the years ended December 31, 2022 and 2021, the Company recorded inventory provision for approximately $4,736 and $2,980, respectively, to cost of sales for obsolete inventories.

As disclosed in Note 21, the Company executed a restructuring plan to shut-down Portugal operations in December 2022 and recorded inventory provision of $6,726 as part of restructuring. For more information refer to Note 22.