| Schedule of Mortgage Balances, including Accrued Interest |
The Company’s mortgage and notes payable balances at September 30, 2024 and December 31, 2023 were comprised of the following (in thousands):
|
|
|
|
|
|
|
|
|
|
|
|
|
September 30,
2024 |
|
December 31,
2023 |
| Construction to Permanent Commercial Real Estate Mortgage Loan ("CREM Loan") |
$ |
57,217 |
|
|
$ |
52,083 |
|
|
|
|
|
| Bank of New England - Wilmington, DE property |
1,120 |
|
|
1,219 |
|
| DuQuoin State Bank - Anna, IL and Harrisburg, IL properties |
695 |
|
|
719 |
|
| DuQuoin State Bank - Metropolis, IL property |
2,439 |
|
|
2,472 |
|
| Du Quoin State Bank - Mt. Vernon, IL property (grow and production) |
2,887 |
|
|
2,923 |
|
| DuQuoin State Bank - Mt. Vernon, IL property (retail) |
1,147 |
|
|
— |
|
| Promissory note issued as purchase consideration - Ermont Acquisition |
2,856 |
|
|
2,591 |
|
| Promissory note issued as purchase consideration - Greenhouse Naturals Acquisition |
3,900 |
|
|
4,190 |
|
| Promissory notes issued as purchase consideration - MedLeaf Acquisition |
1,665 |
|
|
— |
|
| Promissory note issued as purchase consideration - Allgreens Acquisition |
1,036 |
|
|
— |
|
| Promissory note issued to purchase land |
352 |
|
|
— |
|
| Promissory notes issued to purchase motor vehicles |
177 |
|
|
178 |
|
| Total mortgages and notes payable |
75,491 |
|
|
66,375 |
|
| Less: Mortgages and notes payable, current portion |
(4,371) |
|
|
(723) |
|
| Mortgages and notes payable, net of current portion |
$ |
71,120 |
|
|
$ |
65,652 |
|
|
| Schedule of Principal Amounts Due |
The future principal amounts due under the Company outstanding mortgages and notes payable at September 30, 2024 were as follows (in thousands):
|
|
|
|
|
|
| Year ending December 31, |
|
| Remainder of 2024 |
$ |
600 |
|
| 2025 |
4,521 |
|
| 2026 |
2,704 |
|
| 2027 |
3,009 |
|
| 2028 |
3,179 |
|
| Thereafter |
65,398 |
|
| Total future principal payments |
79,411 |
|
| Less: discount |
(3,920) |
|
| Total future principal payments, net of discount |
$ |
75,491 |
|
|