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- Noncontrolling interest
9 Months Ended
Sep. 30, 2011
- Noncontrolling interest

Note 4 – Noncontrolling interest

 

Noncontrolling interest represents the minority stockholders’ proportionate share of the equity of All-American Golf Center ("AAGC’) which is a 51% owned subsidiary of the Company. At September 30, 2011, we owned 51% of AAGC’s capital stock, representing voting control and a majority interest. Our controlling ownership interest requires that AAGC’s operations be included in the Condensed Consolidated Financial Statements contained herein. The 49% equity interest that is not owned by us is shown as “Noncontrolling interest in consolidated subsidiary” in the Condensed Consolidated Statements of Operations and Condensed Consolidated Balance Sheets.  As of September 30, 2011, our minority interest partner and a related party held a $315,271 interest in the net asset value of our subsidiary AAGC and a $51,827 interest in the net income from operations of AAGC.