INVESTMENT IN UNCONSOLIDATED ENTITY (Tables)

3 Months Ended

Mar. 31, 2022

Investment In Unconsolidated Entity

Schedule of convertible promissory note

	Interest			Due		March 31,			December 31,
	Rate			Date		2022			2021
Investment in convertible promissory note		12	%		2022-2026	$	18,499,000		$	17,799,000
Investment in promissory note – Alpha Fund		8	%		June 30, 2022		3,600,000			3,600,000
Accrued interest receivable							2,092,000			2,092,000
Other							106,000			600,000
Total investment in promissory notes, gross							24,297,000			24,091,000
Less: provision for loan losses							(2,000,000	)		(2,000,000	)
Total investment in promissory note						$	22,297,000		$	22,091,000

* During the three months ended March 31, 2022 and 2021, no interest income was recognized from the Company’s investment in AVLP.

Schedule of convertible promissory note maturities

Year
2022	$	4,124,000
2023		2,820,000
2024		2,651,000
2025		1,674,000
2026		6,530,000
2027		700,000
Total	$	18,499,000

Schedule of changes in the equity investments

	Investment in			Investment in
	warrants and			promissory notes			Total
	common stock			and advances			investment
Balance at January 1, 2021	$	5,486,000		$	10,471,000		$	15,957,000
Investment in convertible promissory notes		-			7,344,000			7,344,000
Fair value of warrants		2,786,000			-			2,786,000
Unrealized loss in warrants		(7,772,000	)		-			(7,772,000	)
Unrealized gain in common stock		(150,000	)		-			(150,000	)
Loss from equity investment		(311,000	)		-			(311,000	)
Accretion of discount		-			4,210,000			4,210,000
Accrued interest		-			66,000			66,000
Balance at January 1, 2022		39,000			22,091,000			22,130,000
Investment in convertible promissory notes		-			700,000			700,000
Loss from equity investment		(39,000	)		(494,000	)		(533,000	)
Balance at March 31, 2022	$	-		$	22,297,000		$	22,297,000