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NOTE RECEIVABLE	9 Months Ended
Sep. 30, 2024
NOTE RECEIVABLE
NOTE RECEIVABLE	NOTE 7 – NOTE RECEIVABLE On November 9, 2023, in accordance with the sale of our wholly-owned subsidiary EOR Operating Company (“EOR”) to Tilloo Exploration and Production, LLC (“Tilloo”), the Company entered into a five-year secured promissory note (the “Note”) with Tilloo, bearing interest at 10.0% per annum, with no payments due during the first twelve months, and fully-amortized payments due monthly over the remaining four years of the term thereafter until maturity. The Note contains customary events of default and is secured by a lien over all the assets and capital shares of EOR created under a Security Agreement, a Security Agreement (Pledge of Corporate Securities), and a Mortgage entered into by and between the Company and Tilloo. As of September 30, 2024, the Company recognized $240,000 of the Note in Current Assets, with the remaining balance of $979,000 (including $96,000 of accrued interest) included in Other Assets on the Company’s balance sheet.

NOTE RECEIVABLE

9 Months Ended

Sep. 30, 2024

NOTE 7 – NOTE RECEIVABLE

On November 9, 2023, in accordance with the sale of our wholly-owned subsidiary EOR Operating Company (“EOR”) to Tilloo Exploration and Production, LLC (“Tilloo”), the Company entered into a five-year secured promissory note (the “Note”) with Tilloo, bearing interest at 10.0% per annum, with no payments due during the first twelve months, and fully-amortized payments due monthly over the remaining four years of the term thereafter until maturity. The Note contains customary events of default and is secured by a lien over all the assets and capital shares of EOR created under a Security Agreement, a Security Agreement (Pledge of Corporate Securities), and a Mortgage entered into by and between the Company and Tilloo. As of September 30, 2024, the Company recognized $240,000 of the Note in Current Assets, with the remaining balance of $979,000 (including $96,000 of accrued interest) included in Other Assets on the Company’s balance sheet.