INVESTMENTS IN JOINT VENTURES (Tables)

12 Months Ended

Dec. 31, 2019

Summarized financial information of the Company’s JV Investment

The following table provides summarized financial information of the Land JV as of December 31, 2019. There were no balances as of December 31, 2018.


	As of
	December 31, 2019
	($000's)
Assets, cash and cash equivalents	$	15,066
Assets, prepaid expenses		61
Assets, investment in land assets		17,058
Total Assets	$	32,185

Liabilities, accounts payable, deferred revenue	$	987
Equity	$	31,198
Total Liabilities & Equity	$	32,185

The following table provides summarized financial information of the Land JV for the year ended December 31, 2019. There was no activity for the years ended December 31, 2018 and 2017.


	Year Ended
	December 31, 2019
	($000's)
Revenues	$	14,635
Direct Cost of Revenues		1,268
Operating Income	$	13,367
Other Operating Expenses	$	90
Net Income	$	13,277

Mitigation Bank

Summarized financial information of the Company’s JV Investment

The following tables provide summarized financial information of the Mitigation Bank JV as of December 31, 2019 and 2018:


	As of		As of
	December 31, 2019		December 31, 2018
	($000's)		($000's)
Assets, cash and cash equivalents	$	4,015	$	2,316
Assets, prepaid expenses		19		19
Assets, investment in mitigation credit assets		1,521		1,511
Assets, property, plant, and equipment		17		18
Total Assets	$	5,572	$	3,864

Liabilities, accounts payable, deferred mitigation credit sale revenue	$	39	$	62
Equity	$	5,533	$	3,802
Total Liabilities & Equity	$	5,572	$	3,864

The following table provides summarized financial information of the Mitigation Bank JV for the year ended December 31, 2019 and 2018. There was no activity for the year ended December 31, 2017.


	Year Ended
	December 31, 2019		December 31, 2018
	($000's)		($000's)
Revenues	$	1,922	$	—
Direct Cost of Revenues		76		—
Operating Income	$	1,846	$	—
Other Operating Expenses	$	197	$	117
Net Income	$	1,649	$	(117)