Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.20.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2020
Dec. 31, 2019
Current assets    
Cash $ 41,831 $ 47,773
Accounts receivable, net of allowance of $1,123 and $936 at June 30, 2020 and December 31, 2019, respectively 6,402 8,091
Inventories, net 38,727 43,060
Vendor deposits 11,186 11,120
Other current assets 2,430 4,924
Total current assets 100,576 114,968
Property and equipment, net 13,765 13,165
Intangible assets, net 5,801 6,301
Goodwill 2,974 11,982
Operating lease right-of-use assets 3,714 4,695
Other assets 2,065 2,091
Total assets 128,895 153,202
Current liabilities    
Accounts payable 11,554 11,310
Accrued expenses and other current liabilities 7,236 10,600
Customer deposits 3,044 3,152
Current portion of operating leases 792 1,084
Current portion of finance leases 110 116
Total current liabilities 22,736 26,262
Notes payable, less current portion and debt issuance costs, net 7,926 8,018
Operating leases, less current portion 3,206 3,844
Finance leases, less current portion 126 194
Other liabilities 1,064 620
Total long-term liabilities 12,322 12,676
Total liabilities 35,058 38,938
Commitments and contingencies (Note 6)
Stockholders’ Equity    
Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding 0 0
Additional paid-in capital 38,501 32,108
Accumulated deficit (16,239) (9,727)
Accumulated other comprehensive loss (240) (72)
Total stockholders’ equity attributable to Greenlane Holdings, Inc. 22,157 22,416
Non-controlling interest 71,680 91,848
Total stockholders’ equity 93,837 114,264
Total liabilities and stockholders’ equity 128,895 153,202
Allowance for doubtful accounts $ 1,123 $ 936
Preferred stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Preferred Stock, authorized (shares) 10,000,000 10,000,000
Class A common stock    
Stockholders’ Equity    
Common stock $ 126 $ 98
Common stock, par value (in dollars per share) $ 0.01 $ 0.01
Common stock, authorized (in shares) 125,000,000 125,000,000
Common stock, issued (in shares) 12,603,000 9,999,000
Common stock, outstanding (in shares) 12,603,000 9,812,000
Class B common stock    
Stockholders’ Equity    
Common stock $ 1 $ 1
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, authorized (in shares) 10,000,000 10,000,000
Common stock, issued (in shares) 3,724,000 5,975,000
Common stock, outstanding (in shares) 3,724,000 5,975,000
Class C common stock    
Stockholders’ Equity    
Common stock $ 8 $ 8
Common stock, par value (in dollars per share) $ 0.0001 $ 0.0001
Common stock, authorized (in shares) 100,000,000 100,000,000
Common stock, issued (in shares) 77,791,000 77,791,000
Common stock, outstanding (in shares) 77,791,000 77,791,000