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Balance Sheets - USD ($)
Sep. 30, 2020
Dec. 31, 2019
Statement of Financial Position [Abstract]    
Cash and cash equivalents $ 269,401 $ 191,987
Accounts receivable 109,612 125,539
Interest receivable 179,747 185,190
Investments 2,410
Prepaid expenses 8,718 13,121
Mortgage Loans Receivable, net of allowance of $1,477,644 and $1,429,487 at September 30, 2020 and December 31, 2019, repsectively and deferred origination fees of $217,091 and $278,633 at September 30, 2020 and December 31, 2019, respectively 16,767,386 20,717,058
Bond Portfolio 18,284,135 16,055,937
Real Estate Held for Sale 550,045 651,398
Total Assets 36,169,044 37,942,640
LIABILITIES    
Accounts payable 137 12,311
Management fee payable 23,122 27,255
Line of credit 2,491,000 1,445,000
Dividends payable 33,532 125,835
Secured Investor Certificates, Series B 6,136,250 8,855,000
Secured Investor Certificates, Series C 6,245,000 6,324,000
Secured Investor Certificates, Series D 8,039,000 8,109,000
Secured Investor Certificates, Series E 3,738,000 3,562,000
(Less) Deferred Offering Costs, net of accumulated amortization of $1,042,143 and $956,811 at September 30, 2020 and December 31, 2019, respectively 793,103 865,533
Total liabilities 25,912,938 27,594,868
Stockholders' Equity    
Common Stock, par value $.01 per share authorized, 30,000,000 shares, issued and outstanding, 1,676,598 shares at September 30, 2020 and 1,677,798 shares at December 31, 2019, respectively 16,766 16,778
Additional paid-in capital 19,111,060 19,113,458
Accumulated deficit (8,871,720) (8,782,464)
Total stockholders equity 10,256,106 10,347,772
Total liabilities and stockholders equity $ 36,169,044 $ 37,942,640