iAnthus Capital Holdings, Inc. Quarterly report pursuant to Section 13 or 15(d)

Organization and Description of Business (Tables)

Organization and Description of Business (Tables)

6 Months Ended

Jun. 30, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of Effects Of Reclassification Adjustment On The Line Items Of Consolidated Statements Of Operations

The following table summarizes the effects of reclassification adjustment on the line items within the Company’s unaudited interim condensed consolidated statements of operations:


Prior Year’s Line item	Reclassified Amount						Current Year’s Line item
	Three Months Ended June 30, 2021			Six Months Ended June 30, 2021
Depreciation and amortization	$	495		$	1,037		Selling, general and administrative expenses
Depreciation and amortization		(495	)		(1,037	)	Depreciation and amortization

Summary of Effects Of the Adjustment On The Line items Within Consolidated Financial Statements

The effect of the adjustments on the line items within the Company’s consolidated balance sheet as of December 31, 2021 is as follows:


	December 31, 2021
	As previously reported			Adjustment			As adjusted
Inventories	$	30,447		$	(1,755	)	$	28,692
Current assets		55,401			(1,755	)		53,646
Total assets		346,744			(1,755	)		344,989
Accrued and other current liabilities		99,446			(513	)		98,933
Current liabilities		285,821			(513	)		285,308
Total liabilities		369,141			(513	)		368,628
Accumulated deficit		(800,390	)		(1,242	)		(801,632	)
Total shareholders’ deficit		(22,397	)		(1,242	)		(23,639	)
Total liabilities and shareholders’ deficit		346,744			(1,755	)		344,989

The effect of the adjustments on the line items within the Company’s consolidated statement of operations as of December 31, 2021 is as follows:


	Year Ended December 31, 2021
	As previously reported			Adjustment			As adjusted
Costs and expenses applicable to revenues	$	(91,735	)	$	(1,755	)	$	(93,490	)
Gross profit		111,283			(1,755	)		109,528
Loss from operations		(22,025	)		(1,755	)		(23,780	)
Loss from operations before income tax		(53,999	)		(1,755	)		(55,754	)
Income tax expense		22,249			(513	)		21,736
Net loss		(76,248	)		(1,242	)		(77,490	)
Earnings per share		(0.44	)		(0.01	)		(0.45	)

The effect of the adjustments on the line items within the Company’s unaudited interim condensed consolidated statements of changes in shareholders’ deficit for the three and six months ended June 30, 2022 is as follows:


	June 30, 2022
	As reported			Adjustment			As adjusted
Accumulated deficit – Balance January 1, 2022	$	(800,390	)	$	(1,242	)	$	(801,632	)
Total Shareholders’ deficit – Balance January 1, 2022		(22,397	)		(1,242	)		(23,639	)