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Balance Sheets (Unaudited) (USD $)
Jun. 30, 2014
Dec. 31, 2013
Assets:    
Cash and cash equivalents $ 5,909,600 $ 2,112,700
Accounts receivable, including deferred rent of $54,800 and $217,200 at June 30, 2014 and December 31, 2013, respectively 2,797,800 3,303,800
Finance leases receivable 945,400 1,895,200
Aircraft and aircraft engines held for lease, net of accumulated depreciation of $53,047,600 and $50,679,300 at June 30, 2014 and December 31, 2013, respectively 166,922,000 152,954,600
Assets held for sale 509,200 735,000
Prepaid expenses and other 5,005,800 3,633,000
Total assets 182,089,800 164,634,300
Liabilities:    
Accounts payable and accrued expenses 2,130,700 1,202,700
Notes payable and accrued interest 101,457,500 77,527,300
Maintenance reserves 14,221,800 16,671,800
Accrued maintenance costs 709,000 1,612,100
Security deposits 6,286,700 6,265,000
Unearned revenues 2,042,200 646,700
Deferred income taxes 12,498,600 14,573,800
Taxes payable 159,200 0
Total liabilities 139,505,700 118,499,400
Commitments and contingencies      
Stockholders' equity:    
Preferred stock, $0.001 par value, 2,000,000 shares authorized, no shares issued and outstanding 0 0
Common stock, $0.001 par value, 10,000,000 shares authorized, 1,606,557 shares issued and outstanding 1,600 1,600
Paid-in capital 14,780,100 14,780,100
Retained earnings 28,306,500 31,857,300
Shareholders equity before treasury stock 43,088,200 46,639,000
Treasury stock at cost, 63,300 shares (504,100) (504,100)
Total stockholders' equity 42,584,100 46,134,900
Total liabilities and stockholders' equity $ 182,089,800 $ 164,634,300