Notes Payable and Other Debt (Details Narrative) $ in Thousands, ₪ in Millions |
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1 Months Ended |
12 Months Ended |
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Mar. 28, 2022
USD ($)
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Mar. 21, 2022
USD ($)
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Jul. 31, 2021
USD ($)
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Jul. 31, 2021
ILS (₪)
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Nov. 30, 2015
USD ($)
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Nov. 30, 2015
ILS (₪)
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Sep. 30, 2023 |
Dec. 31, 2022
USD ($)
Integer
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Dec. 31, 2021
USD ($)
Integer
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Dec. 31, 2022
ILS (₪)
Integer
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Jul. 04, 2022 |
Mar. 19, 2020
USD ($)
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Aug. 31, 2019 |
May 31, 2017 |
Mar. 31, 2017 |
Short-Term Debt [Line Items] |
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Number of outstanding credit related instrument | Integer |
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40
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42
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40
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Proceeds from issuance of bonds |
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$ 1,700
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Minority interest |
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7,786
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2,265
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Offering and issuance, costs |
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$ 1,376
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2,377
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Notes payable |
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1,400
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New Buy Back Program [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument, expiration date |
Mar. 28, 2023
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BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Credit facility of market fair value collateral |
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Under
the terms of the indenture for the Series C Bonds, the BVI Company can take out properties from the collateral (in case of HUD refinancing)
or to add properties and increase the Series C Bonds as long as the ratio of outstanding amount of the Series C Bonds to fair market
value of the collateral is not more than 65%. In addition, starting from July 1, 2023, if the fair market value of the collateral is
below 55%, the BVI Company can request to release collateral so the fair market value will increase to 55%.
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Minimum [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Ratio of equity |
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27
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Minimum [Member] | BVI Company [Member] | Stockholders Equity [Member] |
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Short-Term Debt [Line Items] |
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Stockholders' equity percentage |
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30.00%
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Maximum [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Adjustment of interest rate |
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40.00%
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Mortgage Loans [Member] |
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Short-Term Debt [Line Items] |
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Mortgage loans |
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$ 276,000
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$ 283,000
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Debt instrument, rate |
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0.65%
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0.65%
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Weighted interest rate, debt |
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3.88%
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3.88%
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3.88%
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Series B Bonds [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument, rate |
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3.50%
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7.68%
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7.68%
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Debt borrowing value |
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$ 105,000
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Downgrade of rating, description |
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The facility provides for monthly payments of principal based on a 20-year amortization with a balloon payment due in March
2027
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Floor interest rate |
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4.00%
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Debt outstanding value |
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$ 102,390
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Foreign currency loss |
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$ 10,100
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Credit facility description |
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(i) a covenant that the ratio of the Company’s indebtedness to its EBITDA cannot
exceed 8.0 to 1, (ii) a covenant that the ratio of the Company’s net operating income to its debt service before dividend distribution
is at least 1.20 to 1.00 for each fiscal quarter as measured pursuant to the terms of the loan agreement (iii) a covenant that the ratio
of the Company’s net operating income to its debt service after dividend distribution is at least 1.05 to 1.00 for each fiscal
quarter as measured pursuant to the terms of the loan agreement, and (iii) a covenant that the Company’s GAAP equity is at least
$20,000,000.
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Series A Bonds [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument, rate |
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6.90%
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6.40%
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6.65%
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Weighted interest rate, debt |
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7.40%
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Proceeds from issuance of bonds |
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$ 68,000
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₪ 265.2
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Proceeds from issuance of debt, Net of issuance costs |
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$ 64,300
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₪ 251.2
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$ 30,100
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Series A Bonds [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument, rate |
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2.50%
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2.50%
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Annual rate of interest |
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0.50%
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Interest increasing in additional precentage |
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0.25%
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Series A Bonds [Member] | First Four Principal Payments [Member] |
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Short-Term Debt [Line Items] |
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Original principal amount, rate |
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15.00%
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Series A Bonds [Member] | Last Four Principal Payments [Member] |
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Short-Term Debt [Line Items] |
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Original principal amount, rate |
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10.00%
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Series A Bonds [Member] | Minimum [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument, rate |
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6.90%
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Series A Bonds [Member] | Minimum [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Minority interest |
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$ 110,000
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Interest increasing in additional precentage |
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1.25%
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Series A Bonds [Member] | Minimum [Member] | BVI Company [Member] | Stockholders Equity [Member] |
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Short-Term Debt [Line Items] |
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Dividend distribution |
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$ 120,000
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Series A Bonds [Member] | Maximum [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument, rate |
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6.40%
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Series A Bonds [Member] | Maximum [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Interest increasing in additional precentage |
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6.40%
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Series A and B Bonds [Member] | New Buy Back Program [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument repurchase |
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$ 5,000
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Series A and C Bonds[Member] | New Buy Back Program [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument repurchase |
$ 10,000
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Series C Bonds [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument, rate |
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5.70%
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5.70%
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Proceeds from issuance initial public offering |
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$ 64,700
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₪ 208.0
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Offering and issuance, costs |
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$ 1,700
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Series C Bonds [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Adjustment of interest rate |
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1.50%
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Interest increasing in additional precentage |
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0.50%
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Fair market value |
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75.00%
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Maximum issuance of debt |
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$ 179,000
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₪ 630.0
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Debt instrument interest rate during period |
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1.00%
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Series C Bonds [Member] | BVI Company [Member] | Forecast [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument interest rate during period |
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2.50%
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Series C Bonds [Member] | BVI Company [Member] | There after [Member] |
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Short-Term Debt [Line Items] |
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Debt instrument interest rate during period |
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3.00%
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Series C Bonds [Member] | First Four Principal Payments [Member] |
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Short-Term Debt [Line Items] |
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Original principal amount, rate |
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6.00%
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Series C Bonds [Member] | Minimum [Member] | Stockholders Equity [Member] |
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Short-Term Debt [Line Items] |
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Stockholders' equity percentage |
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27.00%
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Series C Bonds [Member] | Minimum [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Minority interest |
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$ 230,000
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Adjustment of interest rate |
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0.25%
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Stockholders' equity percentage |
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25.00%
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Fair market value |
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75.00%
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Series C Bonds [Member] | Minimum [Member] | BVI Company [Member] | Stockholders Equity [Member] |
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Short-Term Debt [Line Items] |
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Minority interest |
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$ 250,000
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Stockholders' equity percentage |
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30.00%
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Dividend distribution |
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$ 250,000
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Series C Bonds [Member] | Maximum [Member] | BVI Company [Member] |
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Short-Term Debt [Line Items] |
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Adjustment of interest rate |
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80.00%
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Single ratings interest Increase annually |
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1.25%
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