Other DebtActive
Secured Promissory Note (Real Estate)
LEEF-RE28A
0.22 CAD▼ 2.22%
BTC Holdings
5.44 BTC
Total Debt
C$17.82M
Leverage
2297.7%
mNAV
103.52x
Outstanding
$5.84M
Issue date
2023-05-25
Principal
$7.00M
Coupon
0.00%
Maturity
2028-05-25
Conversion price
—
- 0% stated interest; carrying value includes debt discount amortization
- Carrying value $5,840,539 as of Dec 31, 2025
- Feb 27, 2026 Amendment No. 1 (Lender: Arbor Ranch SB, LLC): default waiver and 2026 monthly repayment schedule of $50,000/month ($600,000 total); $484,638 catch-up payment due Aug 30, 2027
Terms & Documentation
Terms
- BTC strategy
- No
- Ranking
- Secured
- Payment frequency
- Monthly
- Payment dates
- Monthly through Dec 2026 ($50K/mo, first $150K due Mar 15, 2026); $484,638 catch-up Aug 30, 2027; balloon at May 25, 2028 maturity
- Rate type
- Fixed
Outstanding History
Outstanding history(2)
| As of | Event | Outstanding |
|---|---|---|
| 2025-12-31 | — | $5.84M Balance includes accrued interest; original principal $7M |
| 2023-05-25 | Issuance | $7.00M |
- 2025-12-31 — $5,840,539Note 15 — Notes Payable
- 2023-05-25 — $7,000,000Note 15 — Notes Payable