Quarterly report pursuant to Section 13 or 15(d)

Note 12 - Subsequent Events

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Note 12 - Subsequent Events
9 Months Ended
Sep. 30, 2021
Notes to Financial Statements  
Subsequent Events [Text Block]

Note 12 - SUBSEQUENT EVENTS

 

The Company has evaluated subsequent events through the date the financial statements were available to be issued. There were no material subsequent events, other than that described below, that required disclosure in these financial statements.

 

Subsequent to September 30, 2021, the Company funded a $30 million nine-month senior secured loan. Collateral for the loan includes a first-lien mortgage on a cultivation and processing facility located in Erie, Pennsylvania, as well as other assets of Hero Diversified Associates, Inc. The loan is structured to convert to a twenty-year sale leaseback, unless a specific provision in the loan agreement is satisfied prior to August 1, 2022.

 

Subsequent to September 30, 2021, the Company funded approximately $6.7 million of tenant improvements to our cultivation facilities in Pennsylvania and Arizona.