3. RESULTS OF OPERATIONS FOR MONTY'S RESTAURANT, MARINA AND OFFICE/RETAIL PROPERTY, COCONUT GROVE, FLORIDA (Tables)

9 Months Ended

Sep. 30, 2012

Results Of Operations Fifty-Percent Owned Entities [Table Text Block]

Summarized Combined statements of income Bayshore Landing, LLC and Bayshore Rawbar, LLC	For the three months ended September 30, 2012			For the three months ended September 30, 2011			For the nine months ended September 30, 2012		For the nine months ended September 30, 2011
Revenues:
Food and Beverage Sales	$	1,272,000		$	1,219,000		$	4,628,000	$	4,515,000
Marina dockage and related		268,000			243,000			822,000		800,000
Retail/mall rental and related		174,000			158,000			483,000		452,000
Total Revenues		1,714,000			1,620,000			5,933,000		5,767,000
Expenses:
Cost of food and beverage sold		357,000			344,000			1,324,000		1,266,000
Labor and related costs		284,000			255,000			911,000		845,000
Entertainers		50,000			49,000			149,000		145,000
Other food and beverage related costs		117,000			113,000			400,000		420,000
Other operating costs		40,000			71,000			123,000		141,000
Repairs and maintenance		106,000			76,000			296,000		290,000
Insurance		115,000			150,000			377,000		404,000
Management fees		64,000			93,000			201,000		253,000
Utilities		71,000			71,000			185,000		195,000
Ground rent		219,000			220,000			676,000		666,000
Interest		161,000			166,000			487,000		533,000
Depreciation and amortization		164,000			167,000			492,000		650,000
Realized loss on interest rate swap		-			-			-		198,000
Total Expenses		1,748,000			1,775,000			5,621,000		6,006,000
Net (loss) income	$	(34,000	)	$	(155,000	)	$	312,000	$	(239,000	)