Note 13 - Related Party Receivables

12 Months Ended

Dec. 31, 2021

Notes to Financial Statements

Related Party Transactions Disclosure [Text Block]

13.  RELATED PARTY RECEIVABLES

In 2019, 2020, and 2021, the Company loaned money to the Doran Canterbury I and II joint ventures in member loans totaling approximately $2,027,000. These member loans bear interest at the rate equal to the Prime Rate plus two percent per annum and totaled $130,000 as of  December 31, 2021. The Company expects to be fully reimbursed for these member loans when the joint ventures achieve positive cash flow.

The Company has also recorded related party receivables of approximately $21,000 as of  December 31, 2021, for various related costs incurred by the Company. The Company expects to be fully reimbursed for these costs by the related parties in 2022.