Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 354

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 354
---
, respectively. 4. Accrued Expenses Accrued expenses consist of the following as of December 31:

|                             |     |       2024 |     |       2023 |
| Accrued compensation        |     | $1,104,648 |     | $1,338,000 |
| Goods received not invoiced |     |    644,156 |     |    425,504 |
| Customer credits            |     |    457,695 |     |    273,665 |
| Deferred revenue            |     |    331,280 |     |          — |
| Sales taxes payable         |     |     86,052 |     |      7,214 |
| Disputed vendor liability   |     |     36,000 |     |          — |
| Other                       |     |    160,605 |     |    112,006 |
|                             |     | $2,820,436 |     | $2,156,389 |

5. Related-Party Line of Credit The Company has a line of credit with three related party lenders (Lenders), as amended on July 1, 2024, provides for a revolving line of credit with a borrowing limit of $2,000,000. The revolving line of credit bears interest at 13% and is due at the end of each month until the maturity date. As of December 31, 2024 and 2023, outstanding borrowings on the line of credit were $999,978, and $1,600,000, respectively, and the maturity date was amended to July 1, 2027. The line of credit is collateralized against substantially all of the Company’s assets and is subject to certain covenants. As of December 31, 2024, management believes the Company is in compliance with all covenants. In connection with the execution of the line of credit agreement the Company issued to the Lenders 1,579,766 Class A Common warrants with an exercise price of $0.01. The Company determined the warrants were an equity instrument representing a debt discount to be amortized over the initial term of the line of credit, which had an original maturity

B-33

#### TABLE OF CONTENTS
date of July 17, 2024. Amortization of the debt discount was $62,154 and $114,578 for the years ended December 31, 2024 and 202