Note 1 - Nature of Operations

3 Months Ended

Mar. 31, 2018

Notes to Financial Statements

Nature of Operations [Text Block]

Note

1.

Nature of Operations

MedAmerica Properties Inc. (the “Company” or “MedAmerica”), was originally organized under the laws of the Commonwealth of Massachusetts in

1985,

under the name VMS Hotel Investment Trust, for the purpose of investing in mortgage loans. The Company was subsequently reorganized as a Delaware corporation in

1987

and changed its name to B.H.I.T. Inc. In

2010,

the Company changed its name from B.H.I.T. Inc. to Banyan Rail Services Inc. From

2009

to

2012,

the Company experienced severe losses from an operating subsidiary in the rail services sector. In

2016,

after exploring various industries and researching numerous companies, the board of directors elected to pursue investing in commercial real estate. The Company is pursuing the acquisition and management of strategically located medical office buildings.

In

April 2017,

our board of directors and the holders of a majority of our outstanding shares of common stock approved by written consent amendments to the Company’s certificate of incorporation to (

1

) change the name of the Company from “Banyan Rail Services Inc.” to “MedAmerica Properties Inc.,” and (

2

) effect a

1

for

10

reverse stock split of the issued and outstanding shares of common stock of the Company. On

June 15, 2017,

the Company filed these amendments with the Secretary of State of the State of Delaware and the name change and reverse stock split became effective with the Financial Industry Regulatory Authority, Inc. (“FINRA”) on

June 20, 2017.

As appropriate, all common stock share quantities have been updated to reflect the

1

for

10

reverse stock split.