Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Balance Sheets (Unaudited)

v3.19.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
$ in Thousands
Jun. 30, 2019
Dec. 31, 2018
Current assets    
Cash $ 69,335 $ 7,341
Accounts receivable, net of allowance of $637 and $658 at June 30, 2019 and December 31, 2018, respectively 11,913 8,218
Inventories, net 48,105 29,502
Vendor deposits 7,207 7,917
Other current assets 3,424 4,127
Total current assets 139,984 57,105
Property and equipment, net 12,670 11,641
Intangible assets, net 5,653 3,662
Goodwill 8,996 5,446
Operating lease right-of-use assets 2,063
Deferred tax asset 11,002
Other assets 581 167
Total assets 180,949 78,021
Current liabilities    
Accounts payable 26,473 20,226
Accrued expenses and other current liabilities 7,017 9,945
Current portion of notes payable 173 168
Current portion of operating leases 643
Current portion of finance leases 114 95
Total current liabilities 34,420 30,434
Convertible notes 40,200
Note payable, less current portion and debt issuance costs, net 8,098 8,176
Tax Receivable Agreement liability 5,721
Operating leases, less current portion 1,612
Finance leases, less current portion 253 237
Other liabilities 506
Total long-term liabilities 16,190 48,613
Total liabilities 50,610 79,047
Commitments and contingencies (Note 10)
REDEEMABLE CLASS B UNITS 10,033
STOCKHOLDERS' EQUITY/MEMBERS' DEFICIT    
Members' deficit (10,773)
Preferred stock, $0.0001 par value, 10,000 shares authorized, none issued and outstanding as of June 30, 2019
Class A common stock, $0.01 par value per share, 125,000 shares authorized; 9,998 shares issued and outstanding as of June 30, 2019 100
Class B common stock, $0.0001 par value per share, 10,000 shares authorized; 5,988 shares issued and outstanding as of June 30, 2019 1
Class C Common stock, $0.0001 par value per share, 100,000 shares authorized; 77,791 shares issued and outstanding as of June 30, 2019 8
Additional paid-in capital 31,472
Accumulated deficit (343)
Accumulated other comprehensive loss (56) (286)
Total stockholders' equity attributable to Greenlane Holdings, Inc./members' deficit 31,182 (11,059)
Non-controlling interest 99,157
Total stockholders' equity/members' deficit 130,339 (11,059)
Total liabilities, redeemable Class B units and stockholders' equity/members' deficit $ 180,949 $ 78,021