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Non-controlling Interest
12 Months Ended
Dec. 31, 2019
Noncontrolling Interest [Abstract]  
Non-controlling Interest

Note 5. Non-controlling Interest

 

On April 2, 2019, Midwest entered into a contract to acquire a 51% ownership in 1505 Capital, a Delaware limited liability company, located in New York. 1505 Capital was organized to provide financial and investment advisory and management services to clients and any related investment, trading or financial activities. 1505 Capital had 1,000 Class A Units available for issuance for which Midwest purchased for $1 a total of 510 of the Class A Units and Aurora Financial Services, Inc. purchased the remaining 490 Class A Units.

 

Midwest has consolidated the 1505 Capital income of $252,113 into its consolidated financials from April 2, 2019, through December 31, 2019.  Midwest’s portion of income was $127,636 and the non-controlling interest income was $124,477.