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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues and other income:    
Operating lease revenue $ 4,768,300 $ 7,148,300
Finance lease revenue 56,300 236,100
Net (loss)/gain on disposal of assets (24,200) 178,300
Other (loss)/income (23,200) 4,200
Total Income 4,777,200 7,566,900
Expenses:    
Impairment in value of aircraft 6,654,900 1,408,400
Interest 6,012,900 2,912,400
Depreciation 2,170,300 3,200,700
Professional fees, general and administrative and other 850,300 825,500
Bad debt expense 1,170,000 0
Salaries and employee benefits 516,900 599,000
Insurance 186,900 140,500
Maintenance 80,200 107,400
Other taxes 25,600 37,600
Total expenses 17,668,000 9,231,500
Loss before income tax benefit (12,890,800) (1,664,600)
Income tax benefit (2,712,400) (356,400)
Net loss $ (10,178,400) $ (1,308,200)
(Loss)/earnings per share:    
Basic $ (6.58) $ (0.85)
Diluted $ (6.58) $ (0.85)
Weighted average shares used in (loss)/earnings per share computations:    
Basic 1,545,884 1,545,884
Diluted 1,545,884 1,545,884