Item 1.01. Entry into a Material Definitive Agreement.
On
The foregoing descriptions of the Lease does not purport to be complete and are qualified in its entirety by reference to the complete text of the Lease, a copy of which is attached hereto as Exhibit 10.1 and is incorporated into this Current Report on Form 8-K by reference.
Item 8.01 - Other Items
On
Deregistration as a 1940 Act Company
On
While the Company is committed to fully implementing the Deregistration
Proposal, it is still contingent upon regulatory approval and the ability to
reconfigure the Company's portfolio to deregister as an investment company. The
time required to reconfigure the Company's portfolio could be impacted by, among
other things, the COVID-19 pandemic and related market volatility,
determinations to preserve capital, the Company's ability to identify and
execute on desirable acquisition opportunities, and applicable regulatory,
lender and governance requirements. The conversion process could take up to 24
months; and there can be no assurance that the Deregistration Proposal, even if
fully implemented, will improve the Company's performance. Further, the
As previously announced, MILC has now completed the liquidation of its sole investment in securities - its investment in SMC and plans to invest the proceeds in operating businesses.
Item 9.01 Financial Statements and Exhibits.
Exhibits Ex. No. Description
10.1 Lease Agreement with subsidiary of Power REIT 99.1 Press Release ofMillennium Investment & Acquisition Company, Inc. -Millennium Investment & Acquisition Co. to Operate Michigan's Largest Greenhouse Cannabis Cultivation Facility
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