MariMed Inc.
Climate Impact & Sustainability Data (2018, 2019, 2019-09-30)
Reporting Period: 2018
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Resignation of the Company’s former audit firm due to incapacity to rotate audit partners as required by Section 10A of The Securities Exchange Act of 1934 and Section 203 of the Sarbanes-Oxley Act of 2002. This did not leave enough time for the new audit firm to complete a proper year-end audit.
Mitigation Strategies
- Filed a notification of late filing to allow the new audit firm to complete their audit. The company expects to file the Form 10-K within the 15-day extension period.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2019
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- Delays in receiving information from third parties related to audit completion due to the COVID-19 pandemic.
- Personnel responsible for financial reporting being adversely affected by potential COVID-19 exposure.
- GenCanna Global Inc.'s bankruptcy filing, resulting in a $30 million charge to earnings for the write-down of investment and a $29 million reserve against receivables.
Mitigation Strategies
- The Registrant believes the report will be filed by March 31, 2020.
Supply Chain Management
Climate-Related Risks & Opportunities
Reporting Period: 2019-09-30
Environmental Metrics
Climate Goals & Targets
Environmental Challenges
- A fire at a GenCanna Global Inc. facility prevented GenCanna Global Inc. from timely providing MariMed Inc. with certain financial information necessary to finalize the financial statements for the Quarterly Report on Form 10-Q for the quarter ended September 30, 2019.
Mitigation Strategies
- MariMed Inc. anticipates the Report will be available for filing on or before November 18, 2019.