Quarterly report pursuant to Section 13 or 15(d)

Commitments

v3.22.1
Commitments
 3 Months Ended
Mar. 31, 2022
Commitments and Contingencies Disclosure [Abstract]  
Commitments
Note 10 – Commitments
In the ordinary course of business, the Company enters into contractual agreements with third parties that include
non-cancelable
payment obligations, for which it is liable in future periods. These arrangements can include terms binding the Company to minimum payments and/or penalties if it terminates the agreement for any reason other than an event of default as described in the agreement.
The following table summarizes the Company’s contractual obligations and commitments as of March 31, 2022:
 
For the twelve months ended March 31,
  
2023
 
  
2024
 
  
2025
 
  
2026
 
  
2027
 
Operating leases
    $ 7,895      $ 7,892      $ 8,065      $ 8,161      $ 7,835  
Service contracts
      2,705        2        —          —          —    
Long-term debt, principal
(1)
      168,205        12,969        68        16,987        81  
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
Total
   
$
178,805
 
   
$
20,863
 
   
$
8,133
 
   
$
25,148
 
   
$
7,916
 
    
 
 
     
 
 
     
 
 
     
 
 
     
 
 
  
 
(1)
The payment schedule above shows amounts payable if the conversion options are not exercised by the lender of the Company’s convertible debt instruments.
The Company’s commitments include employees, consultants and advisors, as well as leases and construction contracts for offices, dispensaries and cultivation facilities in the U.S. and Canada. The Company has certain operating leases with renewal options extending the initial lease term for an additional one to 15 years.