Property and Equipment

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

3. PROPERTY AND EQUIPMENT

At September 30, 2021 and December 31, 2020, property and equipment consisted of the following:

		September 30, 2021				December 31, 2020
Buildings and Improvements	$		75,669,250		$		51,557,405
Equipment, Computers and Furniture			72,635,125				49,097,109
Leasehold Improvements			106,118,700				88,607,252
Capitalized Interest			5,237,167				2,988,681
Total Property and Equipment			259,660,242				192,250,447
Less: Accumulated Depreciation			(38,371,583	)			(24,192,900	)
Property and Equipment, net			221,288,659				168,057,547
Land			14,670,675				2,879,376
Land Improvements			194,000
Assets Under Construction			89,149,597				18,988,954
Property and equipment, net	$		325,302,931		$		189,925,877

Assets under construction represent construction in progress related to both cultivation and dispensary facilities not yet completed or otherwise not ready for use.

Depreciation expense for the three and nine months ended September 30, 2021 totaled $6,235,318 and $16,255,340, respectively of which $3,905,487 and $9,997,128, respectively, is included in cost of goods sold. Depreciation expense for the three and nine months ended September 30, 2020 totaled $2,003,586 and $11,193,570, respectively of which $311,315 and $5,571,477, respectively, is included in cost of goods sold.