NOTE 14 - NOTES PAYABLE |
9 Months Ended |
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Sep. 30, 2015 | |
| Notes to Financial Statements | |
| NOTE 14 - NOTES PAYABLE |
NOTE 14 – NOTES PAYABLE During the nine months ended September 30, 2015, MariMed issued $1,525,000 in promissory notes. The notes mature between July 15, 2015 and January 7, 2016 and carry a ten percent interest rate. One promissory note in the amount of $100,000 carries a sixteen percent interest rate. One note in the amount of $100,000 reached maturity and has been repaid during the nine months ended September 30, 2015. |
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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