Note 3. Investment in Affiliate

3 Months Ended

Mar. 31, 2015

Notes

Note 3. Investment in Affiliate

NOTE 3.                      INVESTMENT IN AFFILIATE

In January 2, 2010 the Company acquired a 40% interest in Ananda Investments, LLC, a Texas member managed limited liability company which owns a commercial real estate rental property in Houston, Texas.  The investment was acquired from a controlling stockholder.

Summary unaudited financial results of Ananda for the three months ended March 31, are as follows:

	2015	2014
Rental income	$28,800	$9,900
Operating expense	(19,369)	(17,117)
Net income (loss)	$9,431	$(7,217)
Equity in income (loss) of unconsolidated affiliate	$3,772	$(2,887)

Summary unaudited financial position of Ananda for the three months ended March 31, 2015 and December 31, 2014 is as follows:

Financial Position
	March 31,	December 31,
	2015	2014
Cash	$66,613	$72,873
Other current assets	8,789	1,423
Land, buildings and improvements	434,981	441,456
Other assets	7,368	7,507
Total Assets	$517,751	$523,259
Deposits and accrued expenses	$12,312	$22,383
Mortgage payable	377,851	382,719
Total Liabilities	390,163	405,102
Members' equity	277,845	277,845
Accumulated deficit	(150,257)	(159,688)
Total Equity	127,588	118,157
Total Liabilities and Equity	$517,751	$523,259
Investment in unconsolidated affiliate	$51,035	$47,263