| Schedule of Mortgage Balances, including Accrued Interest |
The Company’s mortgage and notes payable balances at March 31, 2026 and December 31, 2025 were comprised of the following (in thousands): | | | | | | | | | | | | | March 31,
2026 | | December 31,
2025 | CREM Loan, net of debt discount of $1,369 and $1,387 at March 31, 2026 and December 31, 2025, respectively | $ | 55,730 | | | $ | 56,037 | | | | | | | Bank of New England - Wilmington, DE property | 911 | | | 947 | | | | | | | DuQuoin State Bank - Anna, IL and Harrisburg, IL properties | 1,973 | | | 1,979 | | | DuQuoin State Bank - Metropolis, IL property | 2,342 | | | 2,358 | | | DuQuoin State Bank - Mt. Vernon, IL property (retail) | 1,093 | | | 1,103 | | | Du Quoin State Bank - Mt. Vernon, IL property (grow and production) | 2,793 | | | 2,814 | | Promissory note issued to the holders of the Series B Convertible Preferred Stock under the Restructuring and Exchange Agreement (see Note 10), net of debt discount of $176 at March 31, 2026 | 1,797 | | | — | | Promissory note issued to the holders of the Series B Convertible Preferred Stock under the Restructuring and Exchange Agreement (see Note 10), net of debt discount of $732 at March 31, 2026 | 5,239 | | | — | | Promissory note issued as purchase consideration - Ermont Acquisition, net of debt discount of $1,266 and $1,327 at March 31, 2026 and December 31, 2025, respectively | 3,319 | | | 3,248 | | Promissory note issued as purchase consideration - Greenhouse Naturals Acquisition, net of debt discount of $501 and $513 at March 31, 2026 and December 31, 2025, respectively | 3,347 | | | 3,429 | | | | | | | | | | | Promissory note issued to purchase land | 352 | | | 352 | | | Promissory notes issued to purchase motor vehicles | 173 | | | 185 | | | Promissory note issued to purchase other machinery and equipment | 253 | | | 293 | | | Total mortgages and notes payable | 79,322 | | | 72,745 | | | Less: Mortgages and notes payable, current portion | (3,295) | | | (2,553) | | | Mortgages and notes payable, net of current portion | $ | 76,027 | | | $ | 70,192 | |
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| Schedule of Principal Amounts Due |
The future principal amounts due under the Company's outstanding mortgages and notes payable at March 31, 2026 were as follows (in thousands):
| | | | | | | Year ending December 31, | | | Remainder of 2026 | $ | 2,427 | | | 2027 | 3,749 | | | 2028 | 4,630 | | | 2029 | 7,775 | | | 2030 | 3,650 | | | Thereafter | 60,311 | | | Total future principal payments | 82,542 | | | Less: discount | (3,220) | | | Total future principal payments, net of discount | $ | 79,322 | |
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