Note 3 - Equity Investments and Related Commitments and Contingent Liabilities, Including Guarantees

9 Months Ended

Sep. 30, 2017

Notes to Financial Statements

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Note

3

– EQUITY INVESTMENTS AND RELATED COMMITMENTS AND CONTINGENT LIABILITIES, INCLUDING GUARANTEES

The Company

’s Equity Investments include a

33%

ownership interest in Broadway Sixty-Eight, Ltd. (the “Partnership”), an Oklahoma limited partnership, which owns and operates an office building in Oklahoma City, Oklahoma. Although the Company invested as a limited partner, it agreed, jointly and severally, with all other limited partners to reimburse the general partner for any losses suffered from operating the Partnership. The indemnity agreement provides

no

limitation to the maximum potential future payments. To date,

no

monies have been paid with respect to this agreement.

The Company

’s Equity Investments also include a

47%

ownership in Grand Woods Development, LLC (the “LLC”) an Oklahoma limited liability company acquired in

November 2015.

The LLC owns approximately

26.3

acres of undeveloped real estate in northeast Oklahoma City. The Company has guaranteed a loan for which the proceeds were used to purchase a portion of the undeveloped real estate acreage.