Company: VREOF
Filing Date: 2025-03-11
Form Type: PREM14C
Source: 0001140361-25-008065
Chunk: 346

Company: Vireo Growth Inc.
Filing Date: 2025-03-11
Form: PREM14C
Chunk 346
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1,600,890 |
| Cash as of beginning of year                                                 |     |                        3,361,256 |     |  1,760,366 |
| Cash as of end of year                                                       |     |                       $8,466,848 |     | $3,361,256 |
| Supplemental disclosure of cash flow information:                            |     |                                  |     |            |
| Cash paid for interest                                                       |     |                       $1,776,709 |     | $1,776,709 |
| Cash paid for income taxes                                                   |     |                               $— |     | $3,058,732 |
| Supplemental schedule of non-cash investing and financing activities:        |     |                                  |     |            |
| Property and equipment disposed of in exchange for forgiveness of debt       |     |                          $43,575 |     |         $— |
| Right-of-use assets obtained in exchange for new operating lease obligations |     |                               $— |     | $5,257,380 |
| Forgiveness of accounts payable in exchange for property and equipment       |     |                               $— |     |   $917,606 |

See accompanying notes to consolidated financial statements. B-27

TABLE OF CONTENTS

Notes to Consolidated Financial Statements 1. Description of Organization and Summary of Significant Accounting Policies Organization WholesomeCo, Inc. (WholesomeCo) was incorporated on June 15, 2020, as a Delaware corporation. The Company is a complete, plant-to-patient medical cannabis company. The Company cultivates, processes and sells high-quality cannabis products such as flowers, vape cartridges, edibles, beverages and concentrates. The Company is focused on providing the medicinal value of cannabis through its products as a natural path to health and wellness. The Company markets to retail stores and directly to consumers in the state of Utah in the United States of America. On February 28, 2024, WholesomeCo formed Arches IP, Inc. (Arches) and transferred its intellectual property specific to the cannabis delivery management platform in exchange for 12,600,000 Series 1 preferred stock. An outside investor purchased 2,273,362 shares of Series 2 preferred stock in exchange for $1,400,000. The purpose of setting up Arches was to allow that entity to build a customer base and grow revenues by specifically selling access to the Arches platform to cannabis companies across the United States of America. As of December 31,