Note 3 - Notes and Other Receivables

9 Months Ended

Jun. 30, 2016

Notes to Financial Statements

Loans, Notes, Trade and Other Receivables Disclosure [Text Block]

NOTE 3.

NOTES

AND OTHER

RECEIVABLE

S

Notes and Other Receivables as of June 30, 2016 and September 30, 2015, consisted of the following: 

	June 30, 2016		September 30, 2015
Note receivable from 4900 Jackson, LLC, a licensed dispensary, interest rate of 12.0%; monthly principal and interest payments of $50,000, with a balloon payment of $182,531 due on May 1, 2017; collateralized by the borrower's assets.	$	335,904	$	586,305
Notes and other receivables from WGP, a licensed medical marijuana cultivator; $673,294 note secured by real and personal property of the borrower, interest rate of 18.0%; accrued consulting fees of $40,000, construction advances of $332,357 and accrued interest of $172,002. Net of reserves of $466,374 and $456,470. All amounts are due and payable immediately.		751,279		664,800
Related party note receivable from CCI, a non-profit corporation, financing of up to $2.5 million through April 2021, interest rate of 18.0%; monthly principal and interest payments commencing the sixth month after the borrower begins to generate sales; unsecured.		55,630		-
		1,142,813		1,251,105
Less: Current portion		335,904		-
	$	806,909	$	1,251,105

The notes and other receivables from WGP are classified as long term due to ongoing disputes between the Company and WGP.