SUBSEQUENT EVENTS

6 Months Ended

Jun. 30, 2024

Subsequent Events [Abstract]

SUBSEQUENT EVENTS

15. SUBSEQUENT EVENTS

Closing of Lot Sale

On July 1, 2024, 150 CCM Black Oak Ltd. (the “Seller”), a wholly owned subsidiary of LiquidValue Development Inc., closed the sale of 70 single-family detached residential lots comprising a section of a residential community in the city of Magnolia, Texas known as the “Lakes at Black Oak” to Century Land Holdings of Texas, LLC. The lots were sold at a fixed per-lot price, and the Seller also received a community enhancement fee for each lot sold. The aggregate purchase price and community enhancement fees, minus certain expenses, equaled a combined total of approximately $3.8 million.

Loan to VEII

On July 15, 2024, a subsidiary of the Company entered into a Convertible Credit Agreement (the “Credit Agreement”) with VEII. On July 15, 2024, this subsidiary of the Company loaned VEII $110,000 (the “Loan Amount”). Pursuant to the Credit Agreement, this amount can be converted into shares of VEII for a period of three years at a conversion price of $0.06 per share.  As of the date of this filing, the Loan Amount has not been converted.