NOTE 4                  NOTES RECEIVABLE AND ADVANCES

Notes receivable and advances at June 30, 2026 and  December 31, 2025 include:

Advances to Sierra Springs Opportunity Fund, Inc. 

At December 31, 2025, the Company had advances to SSOF of $9,400,000. During the three-months ended March 31, 2026, the Company advanced an additional $5,750,000. On March 26, 2026, all advances, totaling $15,150,000 were contributed in exchange for 23,307,692 shares of SSOF common stock at $0.65 per share (see Note 3). The advances were unsecured and bore interest at 4.5%. On April 30, 2026, the Company converted accrued interest from advances of $237,415 to 365,255 additional shares of SSOF common stock at $0.65 per share (see Note 3). There were no advances outstanding at  June 30, 2026.

Daney Ranch 

On August 19, 2022, the Company sold the Daney Ranch and issued a 10-year $993,000 note receivable maturing in August 2032 to the former lessee and purchaser. The note bore interest at 2% for the first twelve months and bore interest at 7% per annum for the remaining term. The note is secured by a second priority security interest in the property. On June 25, 2026, the Company and a third-party entered into a promissory note purchase agreement in which the Company sold the Daney Ranch note receivable for cash consideration of $500,000. Since the cash consideration received of $500,000 was less than the carrying value of the note, the Company recorded a loss on sale of note receivable of $403,217 for the three and six-months ended June 30, 2026.