PREPAID EXPENSES AND OTHER CURRENT ASSETS |
9 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Sep. 30, 2021 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| PREPAID EXPENSES AND OTHER CURRENT ASSETS |
3. PREPAID EXPENSES AND OTHER CURRENT ASSETS
During the year ended December 31, 2020, the Company entered into a land purchase agreement in relation to construction of a facility in Coachella, California. A deposit of $170,000 has been paid and the balance of the purchase price is subject to financing. On April 6, 2021, the scheduled close of escrow was extended to April 30, 2021 and the purchase price was increased to $4.4 million. The Company is currently renegotiating the final terms of the debt financing related to the purchase of land before completing the purchase.
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