Note 27 - Subsequent Events |
12 Months Ended |
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Dec. 31, 2018 | |
Notes | |
Note 27 - Subsequent Events |
Note 27 Subsequent events
On January 28, 2019, Mentor entered into a second secured Capital Agreement with Electrum, see Note 12. Under the second Capital Agreement, Mentor invested an additional $100,000 of capital in Electrum. In consideration for Mentors investment, Electrum shall pay to Mentor on the payment date the sum of (i) $100,000, (ii) ten percent (10%) of anything of value received by Electrum as a result of the litigation pending in the Supreme Court of British Columbia (the Recovery), and (iii) the greater of (A) 0.083334% of the Recovery for each full month from the date hereof until the payment date if the Recovery occurs prior to the payment date, and (B) $833.34 for each full month from the date hereof until the payment date. The payment date is the earlier of November 1, 2021, and the final resolution of the litigation. In addition, Mentor may, at any time up to and including 90 days following the payment date, elect to convert its 6,198 membership interests in Electrum into a cash payment of $194,028 plus an additional 19.4% of the Recovery.
On January 29, 2019, Mentor invested an additional $31,000 in G Farma by increasing the aggregate principal face amount of the working capital note to $990,000 and coincident with this Addendum VIII investment, the Company obtained an immediate additional 0.093% equity interest, causing Mentor to have a 3.843% interest in the G Farma Equity Entities.
On March 12, 2019, Partner II entered into a Second Addendum to Lease Schedule No. 1 with Pueblo West and will invest an additional $61,368 for equipment to be leased to Pueblo West. |
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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