WOW Jan 1/22 they need to repay $610,000USD Someone suggested I buy a few, I am guessing they must not like me very much.
On January 5, 2021, the Company’s wholly owned subsidiary Golden State, signed a secured promissory note in the amount of
$610,000 USD before financing costs, with a Delaware limited partnership. The note bears interest at 15% per annum and
matures on January 1, 2022. The loan is secured by a Deed of Trust on the Company’s California property. The loan also
includes a 1.5% Participation Interest on the gross hemp revenue earned by the Company during the 2-year term of the loan.
For the purposes of this Note, “Gross Hemp Revenue” shall mean all revenue earned by Golden State from the sale of all hemp
products, which includes, but is not limited to, cured flowers, biomass, clones, seeds, CBD/CBG extract, CBD/CBG cigarettes,
and any other products produced by Golden State for resale. Gross Hemp Revenue shall not be reduced by any expenses,
including but not limited to cost of goods sold, selling general and administrative expenses, and interest expense . The
Participation Interest shall be payable to Lender on a quarterly basis within sixty (60) calendar days following the end of each
calendar quarter.