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SALE OF MARKETABLE SECURITIES
12 Months Ended
Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract]  
SALE OF MARKETABLE SECURITIES

NOTE 9 – 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.).

 

During the year ended December 31, 2022, the Company generated net cash of $793,391 from the sale of 1,200,000 shares of MariMed Inc. common stock. The average price was $0.66 per share. 

 

During the year ended December 31, 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 year ended December 31, 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 December 31, 2022, the Company still owns approximately 550,000 shares of MariMed Inc. common stock.

 

Those shares were retained on the books of the Company with a book value of $0.