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LOANS RECEIVABLE (Tables)
 9 Months Ended
Sep. 30, 2021
Loans Receivable  
Loans receivable are summarized as follows

Loans receivable are summarized as follows:

 

   September 30, 2021       December 31, 2020
 Loans receivable before allowances and discounts  $9,114,000        $2,032,000
 Allowances for uncollectible loans   (1,281,000)       (1,281,000)
 Unamortized discounts   (1,956,000)       (1,000)
Loans receivable  $5,877,000        $750,000
Activity related to loans receivable for the nine months ended September 30, 2021 is summarized as follows:

Activity related to loans receivable for the nine months ended September 30, 2021 is summarized as follows:

 

   Loans Receivable 
 Balance at January 1, 2021  $750,000 
 Investment in convertible promissory notes   4,923,000 
 Accretion of discount   366,000 
 Foreign currency loss   (8,000)
 Conversion to marketable securities   (154,000)
 Balance at September 30, 2021  $5,877,000