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Notes Receivable (Tables)
 9 Months Ended
Sep. 30, 2020
Receivables [Abstract]  
Schedule of Notes Receivable
Notes receivable as of September 30, 2020 and December 31, 2019 consisted of the following:
September 30, 2020December 31, 2019
Notes receivable$93,575 $75,851 
Interest receivable4,763 5,774 
Total notes receivable$98,338 $81,625 
Less: Notes receivable, current2,051 2,146 
Notes receivable, non-current$96,287 $79,479 
Schedule of Line of Credit Facilities The Company provides revolving lines of credit to several entities under management services agreements which are included in notes receivable. The relevant terms and balances are detailed below.
Lines of CreditBalance as of
CounterpartyMaximum ObligationInterest RateSeptember 30, 2020December 31, 2019
Greenleaf (1)
$31,200 3.25% - 4.75%$29,085 $22,569 
CWG (2)
12,000 8%9,767 9,152 
CCF (3)
12,500 18%— 7,152 
Prime Alternative Treatment Center, Inc. ("PATC") (4)
4,650 15%4,650 4,650 
Patient Centric of Martha’s Vineyard, Ltd. (“PCMV”) (5)
9,000 15%6,594 5,758 
Health Circle, Inc. (6)
8,000 15%4,331 3,988 
Total$77,350 $54,427 $53,269 
(1) During the year ended December 31, 2018, a subsidiary of the Company extended lines of credit to Greenleaf Apothecaries, LLC, Greenleaf Therapeutics, LLC and Greenleaf Gardens, LLC (together “Greenleaf”), which mature in June 2023.
(2) The revolving line of credit due from CWG matures in December 2021.
(3) In September 2018, a subsidiary of the Company entered into a management agreement to provide certain advisory and consulting services to CCF for a monthly fee based on product sales.
On November 15, 2019, certain changes in New Jersey state laws occurred to allow for-profit entities to hold cannabis licenses and certain regulatory approvals. Accordingly, a subsidiary of the Company entered into a Reorganization Agreement with CCF, whereby the management agreement will terminate and any outstanding obligations on the line of credit will convert to a direct ownership interest in CCF, which will convert to a for-profit entity. On June 26, 2020, the transactions contemplated by the Reorganization Agreement closed and the line of credit converted into equity in CCF’s successor entity. Please see Note 3 for additional details.
(4) PATC is a non-profit license holder in New Hampshire to which the Company’s consolidated subsidiary PATCC provides management or other consulting services. The line of credit matures in August 2022.
(5) In November 2018, a subsidiary of the Company entered into a services agreement with PCMV. The line of credit matures in November 2023. The services agreement was terminated in February 2020.
(6) Health Circle, Inc. is a non-profit license holder in Massachusetts that formerly had a services agreement with the Company’s consolidated subsidiary MA RMDS SVCS, LCC. The line of credit matures in November 2032. The services agreement was terminated in February 2020.