Accounts Payable, Accrued Liabilities, and Restricted Cash

6 Months Ended

Jun. 30, 2025

Accounts Payable, Accrued Liabilities, and Restricted Cash

Accounts Payable, Accrued Liabilities, and Restricted Cash

11. Accounts Payable, Accrued Liabilities, and Restricted Cash

Accounts payable and accrued liabilities as of June 30, 2025 and December 31, 2024 were comprised of the following items:


	June 30,		December 31,
	2025		2024
Accounts payable – trade	$	14,195,771	$	2,298,060
Accrued Expenses		17,385,270		6,839,822
Taxes payable		5,966,951		264,518
Contract liability		2,426,929		1,053,636
Liability to sellers		7,054,563		—
Other		425,356		—
Total accounts payable and accrued liabilities	$	47,454,840	$	10,456,036

In connection with the closing of the Mergers and the related Merger Agreements, the Company is required to distribute cash to the former equity holders of Deep Roots and Proper. At June 30, 2025, $7,054,563 had yet to be distributed to the former stockholders of such entities. As such, the Company reclassified this cash as restricted cash, and recorded an associated liability, on the unaudited condensed consolidated balance sheet at June 30, 2025. The restricted cash was subsequently distributed after June 30, 2025. See Note 3 “Business Combinations and Dispositions” and Note 23 “Subsequent Events” for additional information