XML 29 R16.htm IDEA: XBRL DOCUMENT

Offering Costs	3 Months Ended
Mar. 31, 2012
Offering Costs [Abstract]
Offering Costs	Note H Offering Costs Through March 31, 2012, we have incurred external offerings costs of $1,140,470, of which we have incurred $136,951 and $59,721 for the three month periods ended March 31, 2012 and 2011, respectively, and are reflected as deferred costs on Registrant’s Condensed Balance Sheets. Such costs are comprised of accounting fees, legal fees, and other professional fees. Such costs have been deferred and shall be recorded as a reduction of proceeds of the IPO, or expensed as incurred if the IPO is not consummated. $68,239 of these costs are in Due to Supervisor at March 31, 2012. Additional offering costs for work done by employees of the Supervisor of $23,024 and $12,333 for the quarter ended March 31, 2012 and 2011, respectively, were incurred and advanced by the Supervisor and have been reimbursed to the Supervisor by the entities to be included in the consolidation.

Offering Costs

3 Months Ended

Mar. 31, 2012

Note H Offering Costs

Through March 31, 2012, we have incurred external offerings costs of $1,140,470, of which we have incurred $136,951 and $59,721 for the three month periods ended March 31, 2012 and 2011, respectively, and are reflected as deferred costs on Registrant’s Condensed Balance Sheets. Such costs are comprised of accounting fees, legal fees, and other professional fees. Such costs have been deferred and shall be recorded as a reduction of proceeds of the IPO, or expensed as incurred if the IPO is not consummated. $68,239 of these costs are in Due to Supervisor at March 31, 2012. Additional offering costs for work done by employees of the Supervisor of $23,024 and $12,333 for the quarter ended March 31, 2012 and 2011, respectively, were incurred and advanced by the Supervisor and have been reimbursed to the Supervisor by the entities to be included in the consolidation.