NOTES PAYABLE (Tables)

12 Months Ended

Dec. 31, 2022

Notes Payable

Schedule of notes payable

	Interest rate	Due date	December 31, 2022			December 31, 2021
Short-term notes payable	5.0%	January 3, 2023	$	700,000		$	118,000
10% original issue discount senior secured notes				-			65,972,000
AGREE Madison secured construction loans	7.0%	January 1, 2025		62,395,000			55,055,000
SMC line of credit	8.0%	October 14, 2025		1,761,000			-
SMC installment notes	7.6%	June 18, 2024		158,000			-
SMC line of credit	8.4%	December 16, 2025		14,724,000			-
SMC line of credit	7.2%	November 16, 2026		10,677,000			-
XBTO note payable	12.5%	December 30, 2023		2,749,000			-
16% senior secured promissory note	16.0%	March 16, 2023		17,456,000			-
3% secured promissory notes	3.0%	May 18, 2023		5,672,000			-
8.5% secured promissory notes	8.5%	May 7, 2024		17,389,000			-
10% secured promissory notes	10.0%	August 10, 2023		8,789,000			-
Short-term bank credit facilities	4.4%	Renews monthly		1,702,000			960,000
Total notes payable			$	144,172,000		$	122,105,000
Less:
Unamortized debt discounts				(13,087,000	)		(27,496,000	)
Total notes payable, net			$	131,085,000		$	94,609,000
Less: current portion				(39,621,000	)		(39,554,000	)
Notes payable – long-term portion			$	91,464,000		$	55,055,000

Schedule Of maturities

Year
2023	$	51,069,000
2024		13,807,000
2025		64,132,000
2026		15,164,000
	$	144,172,000