XML 30 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Rental Income $ 202,586 $ 202,586 $ 405,172 $ 224,150
Tenant reimbursement 15,495 2,157 30,788 2,646
Interest on mortgage loan   5,890   5,890
Other income 40,421 9,476 46,921 17,108
Total revenues 258,502 220,109 482,881 249,794
Operating and maintenance expenses 66,671 63,684 125,868 67,294
Property taxes and insurance 31,230 18,917 62,486 20,837
General and administrative 125,958 280,686 296,898 508,924
Depreciation and amortization 101,731 101,731 203,462 112,910
Total expenses 325,590 465,018 688,714 709,965
Loss from operations (67,088) (244,909) (205,833) (460,171)
Interest and dividend revenue   784   3,899
Loss before income taxes (67,088) (244,125) (205,833) (456,272)
Provision for income tax expense     (347) (398)
Net loss (67,088) (244,125) (206,180) (456,670)
Add: net loss attributable to noncontrolling interest   55,412   113,290
Net loss attributable to Kent Financial Services shareholders' (67,088) (188,713) (206,180) (343,380)
Unrealized gain on available for sale securities (7,314) (3,313) (3,485) (742)
Comprehensive loss $ (74,402) $ (192,026) $ (209,665) $ (344,122)
Basic and diluted net loss per common share: $ (0.02) $ (0.07) $ (0.08) $ (0.12)
Weighted average number of common shares outstanding 2,715,807 2,759,074 2,715,807 2,759,074