Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 373

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 373
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 Health and Senior Services. Beginning in 2021, the Company began to cultivate, manufacture, and dispense marijuana and marijuana-infused products. Principles of Consolidation The consolidated financial statements include the accounts of the following entities:

|                                           |     | Ownership % |     |      |
| Business Name                             |     |        2024 |     | 2023 |
| Proper Holdings, LLC                      |     |        100% |     | 100% |
| New Growth Horizon, LLC                   |     |        100% |     | 100% |
| NGH Investments, LLC                      |     |        100% |     | 100% |
| SLCC, LLC                                 |     |        100% |     |    — |
| Nirvana Investments, LLC and Subsidiaries |     |           — |     |    — |
| Occidental Group, Inc.                    |     |           — |     |    — |

All significant intercompany balances and transactions have been eliminated in consolidation. See Note 16 – Affiliates and Note 17 – Commitments for details. Basis of Accounting The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (U.S. GAAP). Use of Estimates The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosures. Actual results could differ from those estimates. Fair Value Measurement The estimated fair values of the Company’s short-term financial instruments, including receivables and payables arising in the ordinary court of business, approximate their individual carrying amounts due to the relatively short period of time between their origination and expected realization. Cash and Cash Equivalents The Company considers all highly liquid investments with an original maturity of three months or less to be cash equivalents. At times, cash and cash equivalents may be in excess of FDIC insurance limits. The Company deposits held in excess of federally insured limits as of December 31, 2024 and 2023 was $13,014,060 and $19,289,962, respectively. Accounts Receivable-Allowance for Credit Losses The Company uses the allowance method to account for bad debts. This method provides allowances for doubtful receivables equal to the estimated losses that will be incurred in the collection of receivables. The estimated losses are based on historic collection experience coupled with a review of the current status of existing receivables. This estimate is adjusted for management’s assessment of current conditions,