Quarterly report pursuant to Section 13 or 15(d)

Inventories

v3.23.2
Inventories
6 Months Ended
Jun. 30, 2023
Inventories  
Inventories

4. Inventories

The Company’s inventories consisted of the following:

June 30, 

December 31, 

    

2023

    

2022

Raw Material - cannabis plants

$

3,283

$

3,383

Raw Material - other materials

619

763

Work in progress

11,460

11,268

Finished goods

18,662

34,779

Supplies and accessories

2,802

2,716

Total Inventories

$

36,826

$

52,909

During the three months ended June 30, 2023, the Company shifted its sales and operation strategies. As a result, the Company recorded a one-time adjustment for inventory valuation and excess and obsolete inventory of $4,878. During the three and six months ended June 30, 2023, the Company recorded total inventory adjustments of $4,878 and $5,103, respectively. During the three and six months ended June 30, 2022, the Company recorded inventory adjustments of $236 and $516, respectively. These amounts are included in cost of goods sold on the condensed consolidated statements of operations and comprehensive loss.