NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2021

Notes Payable

Schedule of notes payable

Notes payable at December 31, 2021 and 2020, were comprised of the following.

	Interest Rate		Due Date		December 31, 2021			December 31, 2020
Esousa purchased notes					$	-		$	200,000
Short-term notes payable		12.0%		2022		118,000			1,148,000
10% original issue discount senior secured notes		8.0%		March 31, 2022		65,972,000			-
AGREE Madison secured construction loans		7.0%		January 1, 2025		55,055,000
Paycheck Protection Program Loans		1.0%				-			1,162,000
Short-term bank line of credit		3.9%		2021		960,000			1,421,000
Total notes payable					$	122,105,000		$	3,931,000
Less:
Unamortized debt discounts						(27,496,000	)		-
Total notes payable, net					$	94,609,000		$	3,931,000
Less: current portion						(39,554,000	)		(3,595,000	)
Other						-			336,000
Notes payable – long-term portion					$	55,055,000		$	336,000

Schedule Of Maturities

The contractual maturities of the Company’s notes payable, assuming the exercise of all extensions that are exercisable solely at the Company’s option, as of December 31, 2021 were:

Year
2022		$	67,504,000
2023			-
2024			-
2025			55,055,000
	$	122,559,000