| Schedule of Mortgage Balances, including Accrued Interest |
The Company’s mortgage and notes payable balances at March 31, 2024 and December 31, 2023 were comprised of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
March 31,
2024 |
|
December 31,
2023 |
| Construction to Permanent Commercial Real Estate Mortgage Loan ("CREM Loan") |
$ |
53,152 |
|
|
$ |
52,083 |
|
|
|
|
|
| Bank of New England - Wilmington, DE property |
1,186 |
|
|
1,219 |
|
| DuQuoin State Bank - Anna, IL and Harrisburg, IL properties |
712 |
|
|
719 |
|
| DuQuoin State Bank - Metropolis, IL property |
2,460 |
|
|
2,472 |
|
| Du Quoin State Bank - Mt. Vernon, IL property (grow and production) |
2,911 |
|
|
2,923 |
|
| DuQuoin State Bank - Mt. Vernon, IL property (retail) |
1,160 |
|
|
— |
|
| Promissory note issued as purchase consideration - Ermont Acquisition |
2,678 |
|
|
2,591 |
|
| Promissory note issued as purchase consideration - Greenhouse Naturals Acquisition |
4,098 |
|
|
4,190 |
|
| Promissory notes issued to purchase motor vehicles |
148 |
|
|
178 |
|
| Total mortgages and notes payable |
68,505 |
|
|
66,375 |
|
| Less: Mortgages and notes payable, current |
(1,057) |
|
|
(723) |
|
| Mortgages and notes payable, less current portion |
$ |
67,448 |
|
|
$ |
65,652 |
|
|
| Schedule of Principal Amounts Due |
The future principal amounts due under the Company outstanding mortgages and notes payable at March 31, 2024 were as follows (in thousands):
|
|
|
|
|
|
| Year ending December 31, |
|
| Remainder of 2024 |
$ |
593 |
|
| 2025 |
2,164 |
|
| 2026 |
2,678 |
|
| 2027 |
2,980 |
|
| 2028 |
3,163 |
|
| Thereafter |
65,062 |
|
|
76,640 |
|
| Less: discount |
(8,135) |
|
|
$ |
68,505 |
|
|