Note 12 - Subsequent Events |
9 Months Ended |
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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.
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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. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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