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SALE OF MARKETABLE SECURITIES
9 Months Ended
Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]  
SALE OF MARKETABLE SECURITIES

NOTE 10 – SALE OF MARKETABLE SECURITIES

 

When Worlds Inc. spun off Worlds Online Inc. in January 2011, the Company retained 5,936,115 shares of common stock in Worlds Online Inc. (now named MariMed Inc.). Those shares were retained on the books of the Company with a book value of $0.

 

During the nine months ended September 30, 2022, the Company generated net cash of $742,693 from the sale of 1,100,000 shares of MariMed Inc. common stock. The average price was $0.68 per share. 

 

During the nine months ended September 30, 2021, the Company generated net cash of $1,006,588 from the sale of 1,245,000 shares of MariMed Inc. common stock during the nine months ended September 30, 2021, and 100,000 shares of MariMed Inc. common stock at the end of December 2020 which was not transferred to the Company’s bank account until January of 2021. The average price per share was $0.79 per share. 

 

As of September 30, 2022, the Company still owns approximately 650,000 shares of MariMed Inc. common stock.