Schedule of Convertible Notes Receivable |
| | 2018 | | 2017 | April 28, 2017, Electrum convertible note receivable bearing interest at 10% and maturing May 12, 2022, with monthly principal and interest payments of $2,290 beginning June 12, 2017. On May 31, 2018, the Company elected to convert the residual principal and unpaid interest into 526 membership interest units in Electrum based upon a fixed conversion rate of $164 per membership interest unit. The note was collateralized by cannabis equity securities owned by Electrum. | $ | - | $ | 90,731 | | | | | | November 8, 2016, NeuCourt, Inc. convertible note receivable including accrued interest of $1,430 at December 31, 2017. The note bore interest at 5% per annum and matured November 8, 2018. On November 8, 2018, the note and accrued interest was repaid in full. | | - | | 26,430 | | | | | | November 22, 2017, NeuCourt, Inc. convertible note receivable including accrued interest of $1,384 and $135 at December 31, 2018 and 2017. The note bears interest at 5% per annum and matures October 25, 2019. Principal and accrued interest are due at maturity. Principal and unpaid interest may be converted into a blend of shares of a to-be-created series of Preferred Stock and Common Stock of NeuCourt (i) on closing of a future financing round of at least $750,000, (ii) on the election of NeuCourt on maturity of the Note, or (iii) on election of Mentor following NeuCourts election to prepay the Note. * | | 26,384 | | 25,135 | | | | | | October 31, 2018, NeuCourt, Inc. convertible note receivable including accrued interest of $417 and $0 at December 31, 2018 and 2017. The note bears interest at 5% per annum and matures October 31, 2020. Principal and accrued interest are due at maturity. Principal and unpaid interest may be converted into a blend of shares of a to-be-created series of Preferred Stock and Common Stock of NeuCourt (i) on closing of a future financing round of at least $750,000, (ii) on the election of NeuCourt on maturity of the Note, or (iii) on election of Mentor following NeuCourts election to prepay the Note. * | | 50,417 | | - | | | | | | Total convertible notes receivable | | 76,801 | | 142,296 | | | | | | Less current portion | | (26,384) | | (43,628) | | | | | | Long term portion | $ | 50,417 | $ | 98,668 |
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