NOTE 17 - SUBSEQUENT EVENT |
12 Months Ended |
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Dec. 31, 2015 | |
| Subsequent Events [Abstract] | |
| NOTE 17 - SUBSEQUENT EVENT |
NOTE 17 - SUBSEQUENT EVENT MariMed borrowed $950,000 during February and April of 2016. The promissory notes for these loans carry annual interest rates of 10% and 12% and one is payable on December 31, 2016 and the other is payable on May 1, 2018. The Company converted two of the notes payable outstanding at December 31, 2015, plus accrued interest into Class A units in Mia Development. During February of 2016 the Company issued a warrant to purchase 200,000 shares of common stock at a price of $0.10 per share. The warrant expires on February 18, 2019. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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