Note 2 - Restricted Cash

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Restricted Assets Disclosure [Text Block]

Note

2:

      Restricted Cash

During the 

three

months ended

March 31, 

2019,

 the company closed on the sale of a parcel of land which was structured as a “deferred exchange using a qualified intermediary” pursuant to Section 

1031

 of the Internal Revenue Code (

1031

Exchange) for income tax purposes. The net proceeds from this transaction of 

$103,975

 are included in restricted cash as of 

March 31, 2019. 

The related income tax expense on the gain from this sale has been accrued at 

March 31, 2019.

The following table provides a reconciliation of cash and restricted cash reported on the balance sheet that sum to the total of the same such amounts shown in the statement of cash flows.

	March 31,		December 31,
	2019		2018
Cash	$	2,022,558	$	1,860,736
Restricted cash		103,975		-
Total	$	2,126,533	$	1,860,736