	Gotham Green									Convertible
	Partners, LLC			LI Lending, LLC			Convertible Notes			Notes (Swap)			Other Loans			Total
Balance, December 31, 2018	$	—		$	—		$	—		$	—		$	9,198		$	9,198
Acquisitions (Note 11)		39,881			—			—			—			—			39,881
Equity component		(4,874	)		—			—			—			—			(4,874	)
Loans advanced, net		—			44,194			—			—			2,953			47,147
Loan payments		(953	)		—			—			—			(4,058	)		(5,011	)
Accretion income		(337	)		—			—			—			—			(337	)
Accrued interest		1,890			95			—			—			—			1,985
Balance, December 31, 2019		35,607			44,289			—			—			8,093			87,989
Loans advanced, net		2,810			—			5,827			—			509			9,146
Equity exchanged		—			—			—			13,661			—			13,661
Equity component		(692	)		—			(3,982	)		—			(1,168	)		(5,842	)
Accretion income		(643	)														(643	)
Loan payments		(39,855	)		(6,840	)		—			—			(685	)		(47,380	)
Gain on extinguishment of debt		(1,218	)														(1,218	)
Converted to equity		—			—			(145	)		(1,794	)		—			(1,939	)
Accrued interest		3,991			7,913			1,155			—			182			13,241
Balance, December 31, 2020		—			45,362			2,855			11,867			6,931			67,015
Less current portion		—			—			—			—			(5,024	)		(5,024	)
Long-term portion	$	—		$	45,362		$	2,855		$	11,867		$	1,907		$	61,991

	Gotham Green Partners, LLC		LI Lending, LLC		Convertible Notes		Convertible Notes (Swap)		Other Payables			Total
Balance, December 31, 2019	$	35,607	$	44,289	$	—	$	—	$	8,093		$	87,989
Less current portion		—		—		—		—		(6,190	)		(6,190	)
Long-term portion		35,607		44,289		—		—		1,903			81,799
Balance, December 31, 2020		—		45,362		2,855		11,867		6,931			67,015
Less current portion		—		—		—		—		(5,024	)		(5,024	)
Long-term portion	$	—	$	45,362	$	2,855	$	11,867	$	1,907		$	61,991

On May 14, 2020, the Company issued $5,827 in convertible notes to existing investors in the Company. The notes pay interest of 5% per annum and have a maturity date of February 28, 2022. The notes can be converted into Class A Subordinate Voting Shares of the Company for $0.25 per share at any time at the option of the holder. The Company can require mandatory conversion at any time after November 14, 2020 if that the Company’s stock price remains above $0.50 for 45 consecutive days. In 2021, the Company enacted the mandatory conversion feature and converted all remaining debt to equity. One investor elected to convert their note in 2020.

As part of issuing the convertible notes, the investors were given the right to exchange stock in the Company into separate convertible notes (swap notes). In total 29,448,468 shares with a value of $13,661 were exchanged for $13,661 in convertible notes. These notes were effective May 28, 2020, have a maturity date of May 28, 2025, and can be converted into Class A Subordinate Voting Shares of the Company for $0.46 per share at any time at the option of the holder. The notes pay no interest if the Company’s annual revenue is greater than $15,000, and 3% annually otherwise. The Company can require mandatory conversion at any time that the Company’s stock price remains above $0.92 for 45 consecutive days.

Through the Cannex business combination (Note 11), the Company assumed senior secured convertible notes issued to Gotham Green Partners LLC (“GGP”). The convertible loan had a fair value on acquisition of $39,881 which was determined as the present value of the loan and the fair value of the conversion feature. The fair value of the conversion feature was determined to be $4,874 based on the acquisition date intrinsic value of the option. Upon acquisition, the Company reclassified the fair value of the conversion feature to equity. The Company used an independent valuation company to value the notes as of July 31, 2019 using a 10.25% discount rate which management determined was the rate for similar notes with no conversion feature or warrants. The notes were repaid in full in December 2020.

On January 29, 2020, the Company issued convertible secured promissory notes for a total of $3,000 to entities associated with GGP. These notes were due on July 29, 2020 and accrued interest at 15% per annum with no payments due until the maturity date. The notes were convertible at the option of the holder into the Company’s stock for the equivalent of $0.65 per share. The notes were issued with detachable stock warrants that gave the holders of the notes the option to purchase 2,230,080 shares of the Company’s stock for $0.67 per share. The notes were repaid in full in May 2020.

On May 10, 2019, the Company entered into a loan agreement with LI Lending LLC, a related party, for $50,000. LI Lending LLC is related because an officer of the Company is a part-owner of LI Lending LLC. As of December 31, 2019, the Company had drawn $45,000 on the loan in two amounts, an initial $35,000 and a final $10,000, both bearing a 10.25% interest rate.

In April 2020, the loan was amended. In exchange for consent to allow the sale of the Pennsylvania and Maryland assets and the release of related collateral, the Company agreed to make prepayments of principal to LI Lending in the amount of $250 per month for an eight-month period beginning on May 1, 2020. The $2,000 prepayment was applied to the initial $35,000 amount decreasing the balance to $33,000. Additionally, the Company agreed to pay an increased interest rate of 12.25% on the final $10,000 of the loan until such time as this amount has been paid down with the initial $33,000 amount continuing to be subject to the original 10.25% interest rate.

In December 2020, the loan was amended to allow for the release of collateral for the sale lease back transactions with Innovative Industrial Properties, Inc. (“IIPR”). The amendment increased both interest rates by 2.5% on the loan amounts but allowed the payments resulting from the incremental interest to be deferred until January 1, 2022. The Company elected to defer payment, and the additional 2.5% interest is accrued each month and added to the balance of the loan. The Company is still required to make interest-only payments monthly of 10.25% on the initial $33,000 and 12.25% on the final $10,000 of the loan until January 1, 2022 when the interest rates of 12.75% for the initial $33,000 and 14.75% for the final $10,000 will take effect for the remaining term.

The loan matures on May 10, 2024. An exit fee of 20% of the principal balance will be due as principal is repaid. Monthly interest-only payments are required and the Company has paid all interest due as of December 31, 2020.

The Company is subject to certain restrictions under the loan agreement, which include the segregation of the proceeds, the use of the funds for permitted uses, and providing security interest on assets acquired with the proceeds. On December 31, 2019, $2,352 of the funds advanced were shown as Restricted Cash on the Consolidated Balance Sheets.

Outstanding as of December 31, 2020 were other payables totaling $ 6,931 which include notes issued as part of the acquisitions of Healthy Pharms and Arkansas entities as follows:

		December 31,		December 31,
Subsidiary	Terms	2020		2019
Healthy Pharms Inc.	Secured promissory note due December 18, 2020, interest at 15% paid in-kind.	$	—	$	5,429
Healthy Pharms Inc.	Unsecured convertible note at $0.50 per share, due November 18, 2021 at 12% per annum		1,652	—
Healthy Pharms Inc.	Unsecured promissory note, due June 18, 2021 at 12% per annum		2,823	—
Arkansas Entities	Unsecured promissory note, monthly interest payments at 12% per annum	—			561
Arkansas Entities	Unsecured promissory note, monthly interest payments at 14% per annum		1,907		1,738
Equipment Loans	Secured by equipment, monthly payments beginning in 2021 at 15% per annum		512	—
Other	Various		37		365
Total Notes Payable and Convertible Notes		$	6,931	$	8,093

Future minimum payments on the notes payable and convertible debt are as follows: