Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Sep. 30, 2019
Dec. 31, 2018
Current assets    
Cash $ 52,540,000 $ 7,341,000
Accounts receivable, net of allowance of $655 and $657 at September 30, 2019 and December 31, 2018, respectively 7,591,000 8,218,000
Inventories, net 47,086,000 29,502,000
Vendor deposits 10,395,000 7,917,000
Other current assets 4,635,000 4,127,000
Total current assets 122,247,000 57,105,000
Property and equipment, net 12,830,000 11,641,000
Intangible assets, net 6,501,000 3,662,000
Goodwill 11,259,000 5,446,000
Operating lease right-of-use assets 2,280,000 0
Other assets 2,105,000 167,000
Total assets 157,222,000 78,021,000
Current liabilities    
Accounts payable 11,569,000 20,226,000
Accrued expenses and other current liabilities 9,696,000 9,945,000
Current portion of notes payable 175,000 168,000
Current portion of operating leases 684,000 0
Current portion of finance leases 115,000 95,000
Total current liabilities 22,239,000 30,434,000
Convertible notes 0 40,200,000
Notes payable, less current portion and debt issuance costs, net 8,059,000 8,176,000
Operating leases, less current portion 1,816,000 0
Finance leases, less current portion 223,000 237,000
Other liabilities 2,322,000 0
Total long-term liabilities 12,420,000 48,613,000
Total liabilities 34,659,000 79,047,000
Commitments and contingencies (Note 8)
REDEEMABLE CLASS B UNITS 0 10,033,000
STOCKHOLDERS’ EQUITY/MEMBERS’ DEFICIT    
Members’ deficit 0 (10,773,000)
Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding as of September 30, 2019 0 0
Class A common stock, $0.01 par value per share, 125,000 shares authorized; 9,998 shares issued and outstanding as of September 30, 2019 100,000 0
Class B common stock, $0.0001 par value per share, 10,000 shares authorized; 5,988 shares issued and outstanding as of September 30, 2019 1,000 0
Class C Common stock, $0.0001 par value per share, 100,000 shares authorized; 77,791 shares issued and outstanding as of September 30, 2019 8,000 0
Additional paid-in capital 32,129,000 0
Accumulated deficit (6,741,000) 0
Accumulated other comprehensive loss (133,000) (286,000)
Total stockholders’ equity attributable to Greenlane Holdings, Inc./members’ deficit 25,364,000 (11,059,000)
Non-controlling interest 97,199,000 0
Total stockholders’ equity/members’ deficit 122,563,000 (11,059,000)
Total liabilities, redeemable Class B units and stockholders’ equity/members’ deficit $ 157,222,000 $ 78,021,000