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  "documentTitle": "Innovative Industrial Properties, Inc. (IIPR)",
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  "authorName": "Grizzly Reports",
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  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2020-04-09 00:00:00",
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      "text": "In 2019 Vireo has come short of its dispensary rollout plan and gross margins have been significantly below expectations (16% in Q3/2019 vs 35% consensus and down 19% sequentially) Buildout in a number of locations have been put on hold.",
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      "kind": "image",
      "text": "Comparison of facility construction progress between 2018 and 2020",
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      "text": "Leases with IIPR, Vireo represents the third most important tenant with 8.9% of their total rental revenue which is approximately $3.8/3.9M, by renting 4 of their properties. The aggregate of the investments made by IIPR for those properties is totaling approximately $26.2M.",
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      "text": "In 2019 Vireo has come short of its dispensary rollout plan and gross margins have been significantly below expectations (16% in Q3/2019 vs 35% consensus and down 19% sequentially) Buildout in a number of locations have been put on hold and while the company has received some funding boost from Bruce Linton (Executive Chairman) recently, it still faces significant balance sheet risks going forward.",
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      "kind": "paragraph",
      "text": "Vireo Health International, Inc. (CSE: VREO) (OTCQX: VREOF) is an American science-focused, multi-state cannabis company. The Company has operations in 10 states— Arizona, Maryland, Minnesota, Massachusetts, Nevada, New Mexico, New York, Ohio, Pennsylvania, and Rhode Island—and Puerto Rico.",
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      "kind": "title",
      "text": "2.2 Vireo – IIPR’s Third Biggest Client is Also in Financial Troubles",
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