INVESTMENTS IN JOINT VENTURES (Tables)

3 Months Ended

Mar. 31, 2020

Summarized financial information of the Company’s JV Investment

The following table provides summarized financial information of the Land JV as of March 31, 2020 and December 31, 2019:


	As of
	March 31, 2020		December 31, 2019
	($000's)		($000's)
Assets, cash and cash equivalents	$	—	$	15,066
Assets, prepaid expenses		—		61
Assets, investment in land assets		15,384		17,058
Total Assets	$	15,384	$	32,185

Liabilities, accounts payable, deferred revenue	$	211	$	987
Equity	$	15,173	$	31,198
Total Liabilities & Equity	$	15,384	$	32,185

The following table provides summarized financial information of the Land JV for the three months ended March 31, 2020. There was no activity for the three months ended March 31, 2019.


	Three Months Ended
	March 31, 2020
	($000's)
Revenues	$	7,146
Direct Cost of Revenues		3,106
Operating Income	$	4,040
Other Operating Expenses	$	137
Net Income	$	3,903

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 March 31, 2020 and December 31, 2019:


	As of
	March 31, 2020		December 31, 2019
	($000's)		($000's)
Assets, cash and cash equivalents	$	2,004	$	4,015
Assets, prepaid expenses		9		19
Assets, investment in mitigation credit assets		1,457		1,521
Assets, property, plant, and equipment		15		17
Total Assets	$	3,485	$	5,572

Liabilities, accounts payable, deferred mitigation credit sale revenue	$	24	$	39
Equity	$	3,461	$	5,533
Total Liabilities & Equity	$	3,485	$	5,572

The following table provides summarized financial information of the Mitigation Bank JV for the three months ended March 31, 2020 and 2019:


	Three Months Ended
	March 31, 2020		March 31, 2019
	($000's)		($000's)
Revenues	$	1,866	$	47
Direct Cost of Revenues		80		4
Operating Income	$	1,786	$	43
Other Operating Expenses	$	75	$	70
Net Income	$	1,711	$	(27)