XML 21 R7.htm IDEA: XBRL DOCUMENT v2.4.0.8
Loans Receivable and Interest Income
3 Months Ended
Mar. 31, 2014
Loans Receivable And Related Interest [Abstract]  
Loans Receivable and Related Interest

Note 2:  Loans Receivable and Interest Income

 

On March 11, 2013, the Company used $102,900 of its cash funds to purchase a Note and Deed of Trust from an unrelated third party, DoHardMoney.com. The Note and Deed of Trust related to a residential property in Hickorywood, Virginia, and the borrower was obligated to repay the $102,900 in principal, plus fifteen percent (15%) interest per annum, within 150 days. The borrower has extended the note by paying an extension fee of $1,050.  At December 31, 2013 the Company had accrued interest income of $12,474 related to this note. On March 3, 2014 the Company received payment of $6,431 toward this note and on April 11, 2014 the Company received full payment of this note and accrued interest for the total amount of $117,782.