Quarterly report pursuant to Section 13 or 15(d)

Related Party Transactions

v3.22.2.2
Related Party Transactions
9 Months Ended
Sep. 30, 2022
Related Party Transactions  
Related Party Transactions

17.Related Party Transactions

The Company has a payable of $26,592 and $25,519 as of September 30, 2022 and December 31, 2021, respectively, to the Company’s former Chief Executive Officer and current member of the Board for his portion of the amounts payable in connection with the Jupiter acquisition. Of this amount, $22,565 and $21,263 is included in notes payable and $4,027 and $3,895 is included in accounts payable and accrued liabilities in the condensed consolidated balance sheets as of September 30, 2022 and December 31, 2021, respectively. The payable is due on April 1, 2023, with $22,565 of the total payable bearing interest at 8.0% and $4,027 of the payable bearing interest at 10.0%.

The Company has a payable to a current member of the Board of $858 and $1,670 as of September 30, 2022 and December 31, 2021, respectively, in connection with the issuance of the 2019 Senior Notes to such director. The payable bears interest at 8.0%, due November 1, 2022, and is included in notes payable in the condensed consolidated balance sheets.

The Company also has a payable of $530 and $1,032 as of September 30, 2022 and December 31, 2021, respectively, in connection with the issuance of the 2019 Senior Notes that is payable to a company partially owned and managed by a current member of the Board. The payable bears interest at 8.0%, due November 1, 2022, and is included in notes payable in the condensed consolidated balance sheets.

In relation to its joint venture in Standard Farms New York, LLC (“SFNY”), the Company has a payable of $350 due to Conor Green Consulting, LLC (“Conor Green”) as of September 30, 2022. No amount was due to SFNY as of December 31, 2021. The payable does not bear interest, has no defined due date, and is included in notes payable in the condensed consolidated balance sheets.