Note 15 - Related Party Transactions and Balances |
6 Months Ended | |
|---|---|---|
Jun. 30, 2026 | ||
| Notes to Financial Statements | ||
| Related Party Transactions Disclosure [Text Block] |
Related party transactions are summarized as follows:
(a) Building Lease
As part of the VidaCann acquisition on May 9, 2024, the Company entered into a long-term lease agreement with Loop's Nursery for a property in St John's Florida that is used as the Company's primary cultivation facility in Florida. Loop's Nursery is primarily owned by David Loop, one of the Company's board members. Payments for rent and associated costs related to the use of this property for the six months ended June 30, 2026 equaled $1,662,759 (six months ended June 30,2025 - $1,802,824).
(b) Other
As part of the VidaCann acquisition on May 9, 2024, the Company acquired related party notes payable to David Loop, one of the Company's board members and Mark Ascik, in the amounts of $750,000 each (see Note 8). Payments for interest on the related party notes for the six months ended June 30, 2026 totaled $56,096 combined (six months ended June 30, 2025 - $56,096).
Effective September 19, 2025, the Company entered into a three month consulting agreement with Off the House, LLC, an entity owned and operated by the stepson of Robert Groesbeck, the Company's Co-CEO. After the initial three month period, the contract continues on a month to month basis. Total contract payments for the six months ended June 30, 2026 equaled $148,633 (six months ended June 30, 2025 - ).
For the three-month period ended June 30, 2026, no amounts were due to related parties ( December 31, 2025 - $5,935).
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