Quarterly report pursuant to Section 13 or 15(d)

Debentures Receivable

v3.19.2
Debentures Receivable
6 Months Ended
Jun. 30, 2019
Debentures Receivable  
Debentures Receivable

NOTE 9 – DEBENTURES RECEIVABLE

 

As detailed in Note 4Investments, 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 compounded rate of 9% per annum and had an original maturity 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.