Quarterly report pursuant to Section 13 or 15(d)

Acquisition of Emerald Health Therapeutics, Inc. - Unaudited Pro Forma Condensed Combined Balance Sheet (Details)

v3.22.2.2
Acquisition of Emerald Health Therapeutics, Inc. - Unaudited Pro Forma Condensed Combined Balance Sheet (Details)
Sep. 30, 2022
USD ($)
$ / shares
shares
Sep. 30, 2022
CAD ($)
shares
Jun. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
Dec. 31, 2021
USD ($)
$ / shares
shares
Sep. 30, 2021
USD ($)
Jun. 30, 2021
USD ($)
Mar. 31, 2021
USD ($)
Dec. 31, 2020
USD ($)
Current assets                  
Cash and cash equivalents $ 415,389       $ 8,983,007 $ 11,089,624      
Restricted cash 4,574       4,571 4,570      
Accounts receivable 0                
Prepaid expenses 708,477       554,217        
Deferred asset acquisition costs 1,388,444       0        
Other current assets 143,859       56,870        
Other current assets - related party 22,542       0        
Assets held for sale 0                
Total current assets 2,683,285       9,612,097        
Property, plant and equipment, net 86,163       87,710        
Operating lease right-of-use asset 91,064       146,972        
Promissory note receivable 0                
Other asset 8,309       8,309        
Total assets 2,868,821       9,855,088        
Current liabilities                  
Accounts payable 2,067,766       897,880        
Accounts payable - related parties 120,216       2,130        
Accrued interest due to related party 305,734       174,911        
Accrued payroll liabilities 443,983       344,450        
Insurance premium loan payable 30,615       0        
Other current liabilities 526,818       375,842        
Other current liabilities - related party 102,390       0        
Derivative liability 326       59,732        
Multi-draw credit agreement - related party 450,000       450,000        
Convertible multi-draw credit agreement - related party, net of discount 2,005,371       1,524,905        
Current liabilities held for sale 0                
Operating lease liability, current portion 92,356       82,372        
Total current liabilities 6,145,575       3,912,222        
Non-current liabilities                  
Operating lease liability, net of current portion 8,227       78,700        
Total liabilities 6,153,802       3,990,922        
Stockholders’ equity                  
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 912,187,027 shares issued and outstanding at September 30, 2022 495,925       476,108        
Additional paid-in-capital 53,065,217       52,644,221        
Accumulated other comprehensive income 0                
Accumulated deficit (56,846,123)       (47,256,163)        
Total stockholders’ equity (3,284,981)   $ (301,822) $ 2,973,092 5,864,166 $ 8,264,782 $ 2,271,104 $ 2,478,649 $ 450,786
Total liabilities and stockholders’ equity $ 2,868,821       $ 9,855,088        
Stockholders’ equity, parenthetical                  
Common stock, shares issued (in shares) | shares 495,925,112 495,925,112     476,108,445        
Common stock, shares outstanding (in shares) | shares 495,925,112 495,925,112     476,108,445        
Common stock, par value (in dollars per share) | $ / shares $ 0.001       $ 0.001        
Common stock, shares authorized (in shares) | shares 5,000,000,000 5,000,000,000     5,000,000,000        
Pro Forma                  
Current assets                  
Cash and cash equivalents $ 8,592,877                
Restricted cash 4,574                
Accounts receivable 579,139                
Prepaid expenses 708,477                
Deferred asset acquisition costs 0                
Other current assets 143,859                
Other current assets - related party 0                
Assets held for sale 7,254,576                
Total current assets 17,283,502                
Property, plant and equipment, net 86,386                
Operating lease right-of-use asset 91,064                
Promissory note receivable 0                
Other asset 8,309                
Total assets 17,469,261                
Current liabilities                  
Accounts payable 2,972,446                
Accounts payable - related parties 129,240                
Accrued interest due to related party 305,734                
Accrued payroll liabilities 1,111,701                
Insurance premium loan payable 215,972                
Other current liabilities 2,366,892                
Other current liabilities - related party 102,390                
Derivative liability 326                
Multi-draw credit agreement - related party 450,000                
Convertible multi-draw credit agreement - related party, net of discount 2,005,371                
Current liabilities held for sale 0                
Operating lease liability, current portion 92,356                
Total current liabilities 9,752,428                
Non-current liabilities                  
Operating lease liability, net of current portion 8,227                
Total liabilities 9,760,655                
Stockholders’ equity                  
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 912,187,027 shares issued and outstanding at September 30, 2022 912,196                
Additional paid-in-capital 63,933,319                
Accumulated other comprehensive income 0                
Accumulated deficit (57,136,909)                
Total stockholders’ equity 7,708,606                
Total liabilities and stockholders’ equity $ 17,469,261                
Stockholders’ equity, parenthetical                  
Common stock, shares issued (in shares) | shares 912,187,027 912,187,027              
Common stock, shares outstanding (in shares) | shares 912,187,027 912,187,027              
Common stock, par value (in dollars per share) | $ / shares $ 0.001                
Common stock, shares authorized (in shares) | shares 5,000,000,000 5,000,000,000              
EHT, Transactions Accounting Adjustments | Pro Forma                  
Current assets                  
Cash and cash equivalents $ 0                
Restricted cash 0                
Accounts receivable (52,210)                
Prepaid expenses (837,106)                
Deferred asset acquisition costs (1,388,444)                
Other current assets 0                
Other current assets - related party (22,542)                
Assets held for sale (1,849,575)                
Total current assets (4,149,877)                
Property, plant and equipment, net (1,445,086)                
Operating lease right-of-use asset 0                
Promissory note receivable (350,391)                
Other asset 0                
Total assets (5,945,354)                
Current liabilities                  
Accounts payable (22,542)                
Accounts payable - related parties 0                
Accrued interest due to related party 0                
Accrued payroll liabilities 646,415                
Insurance premium loan payable 0                
Other current liabilities 459,548                
Other current liabilities - related party 0                
Derivative liability 0                
Multi-draw credit agreement - related party 0                
Convertible multi-draw credit agreement - related party, net of discount 0                
Current liabilities held for sale (31,998)                
Operating lease liability, current portion 0                
Total current liabilities 1,051,423                
Non-current liabilities                  
Operating lease liability, net of current portion 0                
Total liabilities 1,051,423                
Stockholders’ equity                  
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 912,187,027 shares issued and outstanding at September 30, 2022 416,271                
Additional paid-in-capital (194,643,023)                
Accumulated other comprehensive income (83,346)                
Accumulated deficit 187,313,321                
Total stockholders’ equity (6,996,777)                
Total liabilities and stockholders’ equity (5,945,354)                
Emerald Health Therapeutics, Inc.                  
Current assets                  
Cash and cash equivalents 8,177,488 $ 11,196,364              
Restricted cash 0 0              
Accounts receivable 631,349 864,424              
Prepaid expenses 837,106 1,146,140              
Deferred asset acquisition costs 0 0              
Other current assets 0 0              
Other current assets - related party 0 0              
Assets held for sale 9,104,151 12,465,122              
Total current assets 18,750,094 25,672,050              
Property, plant and equipment, net 1,445,309 1,978,872              
Operating lease right-of-use asset 0 0              
Promissory note receivable 350,391 479,745              
Other asset 0 0              
Total assets 20,545,794 28,130,667              
Current liabilities                  
Accounts payable 927,222 1,269,523              
Accounts payable - related parties 9,024 12,355              
Accrued interest due to related party 0 0              
Accrued payroll liabilities 21,303 29,167              
Insurance premium loan payable 185,357 253,785              
Other current liabilities 1,380,526 1,890,173              
Other current liabilities - related party 0 0              
Derivative liability 0 0              
Multi-draw credit agreement - related party 0 0              
Convertible multi-draw credit agreement - related party, net of discount 0 0              
Current liabilities held for sale 31,998 43,811              
Operating lease liability, current portion 0 0              
Total current liabilities 2,555,430 3,498,814              
Non-current liabilities                  
Operating lease liability, net of current portion 0 0              
Total liabilities 2,555,430 3,498,814              
Stockholders’ equity                  
Common stock, $0.001 par value; 5,000,000,000 shares authorized; 912,187,027 shares issued and outstanding at September 30, 2022 0 0              
Additional paid-in-capital 205,511,125 281,379,472              
Accumulated other comprehensive income 83,346 114,115              
Accumulated deficit (187,604,107) (256,861,734)              
Total stockholders’ equity 17,990,364 24,631,853              
Total liabilities and stockholders’ equity $ 20,545,794 $ 28,130,667