6. RECEIVABLES

3 Months Ended

Mar. 31, 2014

Notes to Financial Statements

RECEIVABLES

The Company recognizes tenant rentals on a straight-line basis over the reasonably assured lease term. The Company's tenant rental agreements provide for scheduled rent increases during the lease term. Tenant rental revenue that has been earned on straight-line basis over the reasonably assured rental term, but has not been invoiced as yet under the terms of the tenant rental agreement, has either been classified as current or non-current under tenant receivable. Tenant rental revenue that has been earned on a straight-line basis, but that will not be invoiced to tenants under the terms of the tenant rental agreement within twelve months of the balance sheet date, has been classified as non-current under tenant receivable.

Receivables consist of the following:

	March 31, 2014
Tenant receivable, current	$	47,454
Tenant receivable, non-current		19,765
Receivables		67,219
Less: Allowance for doubtful accounts		-
Receivables, net	$	67,219

Tenant rental income earned but not invoiced for the three month period ended March 31, 2014 was $19,765.  The allowance for doubtful accounts at March 31, 2014 is $0.

The following discloses scheduled tenant receipts for the remainder of 2014, the next five fiscal years, and thereafter:

	Scheduled Tenant Receipts
Remainder of 2014	$	106,455
2015		148,205
2016		110,536
2017		112,753
2018		115,008
2019		117,308
Thereafter		246,202
Total scheduled rental receipts	$	956,467