Investment in OC-BVI (Tables)

9 Months Ended

Sep. 30, 2019

Investment in OC-BVI

Schedule of Equity Method Investments

Summarized financial information for OC-BVI is as follows:

	September 30,		December 31,
	2019		2018
Current assets	$	886,760	$	2,286,179
Non-current assets		3,576,216		3,859,310
Total assets	$	4,462,976	$	6,145,489

	September 30,		December 31,
	2019		2018
Current liabilities	$	93,129	$	132,005
Non-current liabilities		672,300		1,048,950
Total liabilities	$	765,429	$	1,180,955

	Three Months Ended September 30,				Nine Months Ended September 30,
	2019		2018		2019		2018
Revenue	$	803,861	$	708,601	$	2,358,836	$	2,138,238
Cost of revenue		523,038		354,476		1,626,152		888,628
Gross profit		280,823		354,125		732,684		1,249,610
General and administrative expenses		170,385		325,721		594,980		742,645
Income from operations		110,438		28,404		137,704		506,965
Other income (expense), net		(4,050)		3,360,304		(20,191)		3,458,070
Net income		106,388		3,388,708		117,513		3,965,035
Income attributable to non-controlling interests		18,691		6,773		56,206		36,180
Net income attributable to controlling interests	$	87,697	$	3,381,935	$	61,307	$	3,928,855

A reconciliation of the beginning and ending balances for the Company’s investment in OC-BVI for the nine months ended September 30, 2019 is as follows:

Balance as of December 31, 2018	$	2,584,987
Profit sharing and equity from earnings of OC-BVI		36,811
Distributions received from OC-BVI		(742,350)
Balance as of September 30, 2019	$	1,879,448