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CONDENSED CONSOLIDATED STATEMENTS OF INCOME - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
REVENUES        
Real estate rentals and related revenue $ 18,091 $ 18,830 $ 36,183 $ 35,840
Operating expenses:        
Rental and other properties 28,646 31,190 39,720 54,360
Adviser’s base fee 165,000 165,000 330,000 330,000
General and administrative 35,498 37,336 120,141 117,504
Professional fees and expenses 19,040 27,309 121,292 107,173
Directors’ fees and expenses 19,866 20,490 40,366 36,490
Depreciation and amortization 3,850 3,850 7,699 7,699
Interest expense 28,256 16,220 49,230 31,553
Total expenses 300,156 301,395 708,448 684,779
Loss before other income, income taxes and gain on sale of real estate (282,065) (282,565) (672,265) (648,939)
Net realized and unrealized gains from investments in marketable securities 45,223 104,141 24,462 230,653
Equity loss from operations of residential real estate partnership 0 (35,340) (143,890) (152,517)
Net income from other investments 72,705 69,589 290,408 348,205
Interest, dividend and other income 97,935 123,040 188,543 263,882
Total other income 215,863 261,430 359,523 690,223
(Loss) income before income taxes and gain on sale of real estate (66,202) (21,135) (312,742) 41,284
Provision for income taxes (6,374) 0 (33,579) 0
Net (loss) income before gain on sale of real estate (72,576) (21,135) (346,321) 41,284
Gain on sale of real estate, net 0 0 5,473,887 0
Net (loss) income (72,576) (21,135) 5,127,566 41,284
(Gain) loss from non-controlling interest (1,663) 120 (10,913) (9,931)
Net (loss) income attributable to the company $ (74,239) $ (21,015) $ 5,116,653 $ 31,353
Weighted average common shares outstanding-basic and diluted 1,013,292 1,002,392 1,010,362 1,002,392
Net (loss) income per common share:        
Basic and diluted net (loss) income per share $ (0.07) $ (0.02) $ 5.06 $ 0.03