Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS

v3.21.1
FAIR VALUE MEASUREMENTS
12 Months Ended
Dec. 31, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
FAIR VALUE MEASUREMENTS FAIR VALUE MEASUREMENTS
The following table provides the fair value measurement hierarchy of the Company’s assets and liabilities, except for those assets and liabilities that are short term in nature and approximate the fair values, as of the periods presented:
Level 1
 
Level 2
 
Level 3
 
Total
As of December 31, 2020
Assets:
Investment – Lift & Co $   $   $   $  
Investment – Cansativa     1,553  1,553 
Total Assets     1,553  1,553 
Liabilities:
Loans and borrowings   6,701    6,701 
Convertible notes   27,142    27,142 
Total Liabilities $   $ 33,843  $   $ 33,843 
As of December 31, 2019
Assets:
Investment – Lift & Co $ 319  $ 57  $ —  $ 376 
Investment – Cansativa —  —  1,701  1,701 
Total Assets $ 319  $ 57  $ 1,701  $ 2,077 
Liabilities:
Loans and borrowings $ —  $ 7,162  $ —  $ 7,162 
Convertible notes 26,566  $ 26,566 
Total Liabilities $ —  $ 33,728  $ —  $ 33,728 

In September 2020, Lift & Co. ("Lift") filed for bankruptcy protection under Section 49 of the Bankruptcy and Insolvency Act of Canada. In connection with the filing, the Company fully impaired its investment in Lift and as a result, the carrying value of the Company's common stock and warrant ownership was $nil as of December 31, 2020.

During the year ended December 31, 2020 and December 31, 2019, there were no transfers between fair value measurement levels.