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BUSINESS DESCRIPTION AND PRESENTATION
12 Months Ended
Dec. 31, 2021
Accounting Policies [Abstract]  
BUSINESS DESCRIPTION AND PRESENTATION

NOTE A – BUSINESS DESCRIPTION AND PRESENTATION

 

The Company owns approximately 190 acres of land located in Parkersburg West Virginia. Located on the land are four structures totaling approximately 53,000 square feet. Of this total area the main industrial / office building contains approximately 24,800 square feet of which as of December 31, 2021 approximately 16,000 of industrial area is leased for $101,000 per annum.

 

In August 2020, the Company sold its oil and gas wells and mineral leases which were located in Ohio and West Virginia. The oil and operations for the periods included in this report are reflected as discontinued operations.

 

The Company’s ability to meet current cash obligations relies on cash received from operations and the collection of notes receivable, including a $3.6 million dollar receivable from a related party.