Note 6 - Notes Receivable |
6 Months Ended |
|---|---|
Jun. 30, 2025 | |
| Notes to Financial Statements | |
| Financing Receivables [Text Block] |
NOTE 6 – NOTES RECEIVABLE
On January 31, 2025, the Company entered into a binding letter of intent with EWCR (the “Target”). In connection with the proposed transaction, Blum Management Holdings, Inc. ("Blum Management") entered into a senior secured convertible promissory note for $0.50 million with the Target. The note receivable earns interest at a rate of 8.0% per annum and matured on March 31, 2025. At the Company’s option, the promissory note may be converted into shares of the Target, based on a Target valuation of $2.00 million, subject to performance-based adjustments. The promissory note is secured by all assets of the Target. On March 31, 2025, the maturity date of the promissory note was amended to May 30, 2025. The promissory note was recorded at amortized cost, which was $0.50 million. The Company's rights to the note receivable were assigned to the seller of EWCR as part of the consideration paid to acquire the Target on May 15, 2025. Refer to "Note 10 – Business Combinations". |