Unregistered Sales of Equity Securities and Use of Proceeds
−Removed: On January 20, 2023, the Company issued 1,793 shares of restricted common stock, with an aggregate fair value of approximately $1,000, under a royalty agreement.
−Removed: On January 13, 2023, the Company issued 6,580,390 shares of restricted common stock, with a fair value of $3.0 million, as purchase consideration for the Ermont Acquisition.
−Removed: On March 29, 2023, the Company issued an aggregate of 70,000 shares of restricted common stock to two employees, with a fair value of approximately $39,000.
+Added: During the three months ended June 30, 2023, the Company issued unregistered securities as described below:
+Added: • 5,025 shares of restricted common stock subscribed during the six months ended June 30, 2023, with a fair value of approximately $2,000;
+Added: • 450,000 shares of restricted common stock to purchase a 0.33% minority interest in Mari Holdings MD LLC, one of the Company's majority-owned subsidiaries;
+Added: • 21,383,040 shares of common stock issued to convert 4,276,608 shares of Series C convertible preferred stock to common stock;
+Added: • an aggregate of 1,140,741 shares of restricted common stock with a total fair value of approximately $460,000 issued as payment for services to two service providers;
+Added: • 1,290 shares of restricted common stock with an aggregate fair value of approximately $1,000 issued under a royalty agreement.
The issuance of the shares of common stock described above were deemed to be exempt from registration under the Securities Act of 1933, as amended (the "Securities Act") in reliance upon Sections 4(a)(2) and/or 4(a)(5) of the Securities Act.
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