Quarterly report pursuant to Section 13 or 15(d)

Debentures Receivable

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Debentures Receivable
9 Months Ended
Sep. 30, 2019
Debentures Receivable  
Debentures Receivable

NOTE 9 – DEBENTURES RECEIVABLE

 

As detailed in Note 4 – Investments, the Company converted the GC Debentures into a 33.5% ownership interest in GenCanna in February 2019. Prior to conversion, the GC Debentures bore interest at a rate of 9% per annum and had an original maturity date of three years from issuance. For the year ended December 31, 2018, the Company earned and received interest income of approximately $502,000 on the GC Debentures.