Annual report pursuant to Section 13 and 15(d)

Due from Third Parties (Tables)

v3.20.1
Due from Third Parties (Tables)
12 Months Ended
Dec. 31, 2019
Due From Third Parties  
Schedule of Due from Third Parties

At December 31, 2019 and 2018, the following table reflects amounts that were advanced by the Company to its cannabis-licensed clients primarily for working capital purposes, and the carrying amount of such advances after write-offs:

 

    2019     2018  
Kind Therapeutics USA Inc. (Maryland licensee)   $ 1,475,675     $ 2,679,496  
Harvest Foundation LLC (Nevada licensee)     1,938,787       248,796  
KPG of Anna LLC (Illinois licensee acquired Oct. 2019)     -       482,700  
KPG of Harrisburg LLC (Illinois licensee acquired Oct. 2019)     -       449,385  
Total working capital advances to third parties     3,414,462       3,860,377  
Reserves against working capital advances     (3,414,462 )     -  
Due from third parties, net   -     3,860,377