Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

3. BASIS OF PRESENTATION: c) Basis of Consolidation (Policies)

v3.21.2
3. BASIS OF PRESENTATION: c) Basis of Consolidation (Policies)
12 Months Ended
Dec. 31, 2020
Policies  
c) Basis of Consolidation

c)Basis of Consolidation 

The consolidated financial statements for the years ended December 31, 2020 and 2019 include the accounts of the Company and its wholly owned subsidiaries.  Subsidiaries are entities controlled by the Company.  Control exists when the Company has the power, directly and indirectly, to govern the financial and operating policies of an entity and be exposed to the variable returns from its activities.  The financial statements of subsidiaries are included in the consolidated financial statements from the date that control commences until the date that control ceases.  All inter-company transactions, balances, income and expenses are eliminated in full upon consolidation. These consolidated financial statements include the accounts of the following active entities:

 

 

Name of Subsidiary

Jurisdiction

Percentage Ownership

2020

Percentage Ownership

2019

MichiCann Medical Inc.

Ontario, Canada

100%

-

1251881 B.C. Ltd.

British Columbia, Canada

100%

 

Mid-American Growers, Inc.

Delaware, USA

100%

-

Mid-American Cultivation LLC

Delaware, USA

100%

-

RWB Platinum Vape Inc.

California, USA

100%

-

Vista Prime Management, LLC

California, USA

100%

-

GC Ventures 2, LLC

Michigan, USA

100%

-

RWB Licensing Inc.

British Columbia, Canada

100%

-

RWB Freedom Flower, LLC

Illinois, USA

100%

-

RWB Illinois, Inc.

Delaware, USA

100%

100%

Vista Prime 3, Inc.

California, USA

100%

-

PV CBD LLC

California, USA

100%

-

Vista Prime 2, Inc.

California, USA

100%

-

Royalty USA Corp.

Delaware, USA

100%

-

RLTY Beverage 1 LLC

Delaware, USA

100%

-

RLTY Development MA 1 LLC

Delaware, USA

100%

-

RLTY Development Orange LLC

Massachusetts, USA

100%

-

RLTY Development Springfield LLC

Massachusetts, USA

100%

-