FAIR VALUE MEASUREMENTS (Details Narrative) - Edible Garden Corp [Member] - USD ($) $ in Thousands |
1 Months Ended | |
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Mar. 30, 2020 |
Sep. 30, 2020 |
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Estimated fair value of the options | $ 330 | |
Payment of secured promissory note | $ 3,000 | |
Consideration received under agreement, description | The consideration paid for the Business included two option agreements to purchase up to a 20% interest in the Purchaser for a nominal fee. The first option gives the Company the right to purchase a 10% interest in the Purchaser for one dollar at any time between the one and five-year anniversary of the transaction, or at any time should a change in control event or public offering occur. The second option gives the Company the right to purchase an additional 10% interest in the Purchaser for one dollar at any point prior to the five-year anniversary of the transaction. |
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- Definition The cash outflow to repay long-term debt that is wholly or partially secured by collateral. Excludes repayments of tax exempt secured debt. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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