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Notes Payable
6 Months Ended
Jun. 30, 2022
Debt Disclosure [Abstract]  
Notes Payable

NOTE 10. NOTES PAYABLE

 

As of June 30, 2022 and December 31, 2021, Notes payable, net consisted of the following:
 

 

 

June 30, 2022

 

 

December 31, 2021

 

 

 

(in thousands)

 

Promissory notes dated October 1, 2021, maturing in October 2022. Monthly interest payments due of 4.75%. Secured by mortgaged property with a $6 million book value.

 

 

6,156

 

 

 

6,156

 

Promissory note acquired in Harvest acquisition dated February 2020, maturing in February 2023. Monthly interest payments due at 5.5%.

 

 

2,670

 

 

 

4,699

 

Promissory note dated July 2018, maturing in July 2023. Monthly interest payments due of 4% per annum. Secured by certain assets.

 

 

1,092

 

 

 

1,113

 

Promissory note of consolidated variable-interest entity dated February 2022, maturing February 2029, for up to $1.5 million. Monthly interest payments due of 8%.

 

 

1,080

 

 

 

 

Promissory note dated October 2019, maturing in October 2024. Monthly interest payments due of 5.5%. Principal balance due at maturity.

 

 

778

 

 

 

829

 

Promissory note acquired in Harvest acquisition dated August 2018, maturing in August 2024. Monthly interest payments due of 2%. Secured by certain assets.

 

 

858

 

 

 

1,022

 

Promissory note acquired in Harvest acquisition dated January 2020, maturing in May 2023. Quarterly interest payments due of 2%.

 

 

250

 

 

 

425

 

Promissory note acquired in Harvest acquisition dated April 2021, maturing in April 2026. Principal due at maturity. Secured by equipment.

 

 

53

 

 

 

60

 

Promissory note acquired in Harvest acquisition dated January 2020, maturing in January 2023. Monthly interest payments due of 2%.

 

 

25

 

 

 

65

 

Promissory notes of consolidated variable-interest entities acquired in Harvest Acquisition. Maturing December 2022 and 2029, interest ranging from 5.25% to 8.25%. Secured by real-estate. In the first quarter of 2022 these notes were fully paid.

 

 

 

 

 

2,231

 

Total notes payable

 

 

12,962

 

 

 

16,600

 

Less: Debt discount

 

 

(25

)

 

 

(92

)

Less: Current portion of notes payable

 

 

(9,502

)

 

 

(10,052

)

Notes payable

 

$

3,435

 

 

$

6,456

 

 

As of June 30, 2022, stated maturities of notes payable are as follows:

 

 

 

(in thousands)

 

Remaining 2022

 

$

6,496

 

2023

 

 

4,711

 

2024

 

 

657

 

2025

 

 

14

 

2026

 

 

4

 

Thereafter

 

 

1,080

 

Total

 

$

12,962