INVESTMENTS |
12 Months Ended |
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Dec. 31, 2023 | |
| Equity Method Investments and Joint Ventures [Abstract] | |
| INVESTMENTS | INVESTMENTS Cansativa
On October 17, 2023, the Company completed sale of remaining Cansativa investments of 3,648 shares of Cansativa (the “Shares”), representing its entire interest in Cansativa, of which 3,582 Shares were purchased by Cansativa GmbH and 66 Shares were purchased by Entrepreneurial Investment GmbH IP, for a total purchase price of approximately €1,817 ($1,863). A total loss of $3,738 was recorded in other Expense (Income) in the Consolidated Statements of Operations during the year ended December 31, 2023 as the difference between the sale price and the carrying value on the date of sale. During 2022, the Company sold 1,586 shares in Cansativa to an unrelated third-party for approximately EUR 2,300. At the time of the sale, the Company compared the transaction value of the shares sold to the carrying value of shares sold and recognized a gain of $1,983. Immediately following the sale, the Company remeasured its retained interest which resulted in an additional gain of $4,868. As a result, a total of $6,851 was recorded in other income in the Consolidated Statements of Operations during the year ended December 31, 2022.
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- References No definition available.
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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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