NOTE 3. NOTES RECEIVABLE

As of June 30, 2019, our notes receivable consisted of the following:


CCR Note	$	375,000
BB Note		100,000
BRB Note		300,000
Total principal		775,000
Unamortized loan origination fee		(12,256)
		762,744
Less: Current portion		(399,438)
Long-term portion	$	363,306

In March 2019, we agreed to loan $375,000 to Consolidated C.R., LLC (“CCR”) pursuant to the terms of a convertible promissory note (“CCR Note”), bearing interest at 12% per annum, collateralized by virtually all of the assets of CCR and a maturity date of November 2020. We had a 90 day option to convert $250,000 of principal under the CCR Note into a 10% equity ownership of CCR. This option was not exercised and has expired. CCR is a vertically integrated medical cannabis company located in San Juan, Puerto Rico. As of June 30, 2019, we had loaned $375,000, of which $155,000 was loaned in the first quarter, to CCR under the CCR Note. The CCR Note included a loan origination fee of $15,000, which is being recognized as interest income over the term of the agreement.

On January 3, 2019, we loaned $100,000 to Beacher Brewing, LLC (“BB”) pursuant to the terms of a promissory note (“BB Note”), bearing interest at 11% per annum and a maturity date of January 3, 2020.

On December 13, 2018, we loaned $50,000 to BRB Realty, LLC (“BRB”) pursuant to the terms of a promissory note (“BRB Note”), bearing interest at 13% per annum and a maturity date of June 12, 2019. On January 19, 2019 the BRB Note was amended with an additional loan amount of $250,000 bearing an interest rate of 13% and a new maturity date of July 15, 2019. On July 15, 2019, BRB Realty extended the maturity date, in accordance with the terms of the BRB Note, an additional six months with an increased interest rate to 15%. The BRB Note included a loan origination fee of $5,000, which is being recognized as interest income over the term of the agreement.