IM Cannabis Corp. Annual and transition report of foreign private issuers [Sections 13 or 15(d)]

DISCONTINUED OPERATIONS AND DECONSOLIDATION (Tables)

12 Months Ended

Dec. 31, 2024

	November 6, 2022
ASSETS

CURRENT ASSETS:
Cash	$	406
Trade receivables		1,047
Other current assets		2,194
Loans receivable		1,010
Biological assets		444
Inventories		6,784

		11,885
NON-CURRENT ASSETS:
Property, plant and equipment, net		14,645
Right of use assets, net		10,999
Intangible assets, net		17,157

		42,801

Total assets	$	54,686

LIABILITIES

CURRENT LIABILITIES:
Trade payables	$	7,266
Bank loans and credit facilities		3,774
Other current liabilities		25,217
Current maturities of operating lease liabilities		869

		37,126
NON-CURRENT LIABILITIES:
Operating lease liabilities		13,517
Deferred tax liability, net		2,872

		16,389

Total liabilities	$	53,515

	Period ended November 6, 2022

Revenue	$	28,171
Cost of revenue		24,227

Gross profit before fair value adjustments		3,944

Fair value adjustments:
Unrealized change in fair value of biological assets		399
Realized fair value adjustments on inventory sold		(2,528	)

Total fair value adjustments		(2,129	)

Gross profit		1,815

General and administrative expenses		38,464
Impairment of goodwill, intangible assets, right-of-use assets and fixed assets		115,112
Selling and marketing expenses		4,912
Restructuring expenses		4,506
Share-based compensation		1,130

Total operating expenses		164,124

Operating loss		(162,309	)

Finance expenses, net		(5,264	)

Loss before taxes on income		(167,573	)
Taxes on income		(1,194	)

Net loss from discontinued operations, net of tax	$	(166,379	)