Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

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Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Mar. 31, 2021
Dec. 31, 2020
Mar. 31, 2020
Current assets      
Cash $ 12,309 $ 30,435  
Accounts receivable, net of allowance of $1,087 and $1,084 at March 31, 2021 and December 31, 2020, respectively 5,516 6,330  
Inventories, net 34,694 36,064  
Vendor deposits 10,856 11,289  
Assets held for sale 896 1,073  
Other current assets (Note 8) 10,596 10,892  
Total current assets 74,867 96,083  
Property and equipment, net 12,735 12,201  
Intangible assets, net 8,824 5,945  
Goodwill 7,973 3,280  
Operating lease right-of-use assets 2,606 3,104  
Other assets 2,038 2,037  
Total assets 109,043 122,650  
Current liabilities      
Accounts payable 8,241 18,405  
Accrued expenses and other current liabilities (Note 8) 19,436 19,572  
Customer deposits 3,266 2,729  
Current portion of operating leases 713 966  
Current portion of finance leases 216 184  
Total current liabilities 31,872 41,856  
Notes payable, less current portion and debt issuance costs, net 9,395 7,844  
Operating leases, less current portion 2,312 2,524  
Finance leases, less current portion 246 205  
Other liabilities 1,115 964  
Total long-term liabilities 13,068 11,537  
Total liabilities 44,940 53,393  
Commitments and contingencies (Note 7)  
STOCKHOLDERS' EQUITY      
Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding   0 $ 0
Additional paid-in capital 47,705 39,742  
Accumulated deficit (29,104) (24,848)  
Accumulated other comprehensive income 47 29  
Total stockholders’ equity attributable to Greenlane Holdings, Inc. 18,819 15,065  
Non-controlling interest 45,284 54,192  
Total stockholders’ equity 64,103 69,257 $ 98,365
Total liabilities and stockholders’ equity 109,043 122,650  
Common Class A      
STOCKHOLDERS' EQUITY      
Common stock 163 133  
Class B Common Stock      
STOCKHOLDERS' EQUITY      
Common stock 1 1  
Class C Common Stock      
STOCKHOLDERS' EQUITY      
Common stock $ 7 $ 8