Company: VREOF
Filing Date: 2025-03-21
Form Type: DEFM14C
Source: 0001140361-25-009815
Chunk: 354

Company: Vireo Growth Inc.
Filing Date: 2025-03-21
Form: DEFM14C
Chunk 354
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, LLC. (collectively, the Company). All material intercompany accounts and transactions are eliminated in consolidation. Use of Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America (US GAAP) requires management to make estimates and assumptions that affect reported amounts and disclosures. Accordingly, actual results could differ from those estimates. Concentrations of Credit Risk The Company maintains its cash in bank deposit accounts which, at times, exceed federally insured limits. To date, the Company has not experienced a loss or lack of access to its invested cash; however, no assurance can be provided that access to the Company’s invested cash will not be impacted by adverse conditions in the financial markets. In the normal course of business, the Company provides credit terms to its customers and generally requires no collateral. A major customer is considered to be one that comprises greater than 10% of the Company’s accounts receivable or revenues. Concentrations of accounts receivable were as follows as of December 31:

|            |     | 2024 |     | 2023 |
| Customer A |     |  28% |     |  29% |
| Customer B |     |  24% |     |    * |
| Customer C |     |  16% |     |  18% |
| Customer D |     |  10% |     |  15% |
| Customer E |     |    * |     |  11% |

| * | Customer did not make up 10% or more of accounts receivable |

No customers represented greater than 10% of the Company’s revenues for the years ended December 31, 2024 and 2023.

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TABLE OF CONTENTS

Major vendors are defined as those vendors having expenditures made by the Company which exceed 10% of the Company’s total expenditures. No vendors represented greater than 10% of the Company’s total expenditures in 2024 and 2023. The Company’s access to sources of debt funding is generally limited due to the selling of medical cannabis being legalized on the state level in many states including Utah where the Company operates, but not legal at the federal level. As a result, if the Company’s primary lender were to discontinue lending to the Company, it may have a negative impact on the operations of the Company. Accounts Receivable and Allowance for Credit Losses The Company sells medical cannabis products to retail and wholesale customers. Retail customers are required to