Discontinued Operations

6 Months Ended

Mar. 31, 2013

Discontinued Operations [Abstract]

DISCONTINUED OPERATIONS

NOTE 4 – DISCONTINUED OPERATIONS

Discontinued operations for the three and six months ended March 31, 2013 include the operations of the property in Greensboro, NC, which was classified as held for sale as of December 31, 2012. On February 19, 2013, the Greensboro, NC property was sold for $1,525,000. Discontinued operations for the three and six months ended March 31, 2012 include the operations of Greensboro, NC and the operations of the property in Quakertown, PA which was classified as held for sale as of September 30, 2011 and was sold on October 31, 2011. The following table summarizes the components of discontinued operations:

	Three Months Ended		Six Months Ended
	3/31/2013	3/31/2012	3/31/2013	3/31/2012
Rental and Reimbursement revenue	$-0-	$-0-	$32,258	$95,888
Real Estate Taxes	(22,120)	(6,897)	(28,474)	(16,719)
Operating Expenses	(23,190)	(17,698)	(33,026)	(27,935)
Depreciation & Amortization	-0-	(19,647)	(20,094)	(38,787)
Income (Loss) from Operations of Disposed Property	(45,310)	(44,242)	(49,336)	12,447
Gain (Loss) on Sale of Investment Property	345,794	-0-	345,794	(8,220)
Income (Loss) from Discontinued Operations	$300,484	$(44,242)	$296,458	$4,227

Cash flows from discontinued operations for the six months ended March 31, 2013 and 2012 are combined with the cash flows from operations within each of the three categories presented. Cash flows from discontinued operations are as follows:

	Six Months Ended
	3/31/2013	3/31/2012
Cash flows from Operating Activities	$(12,260)	$85,458
Cash flows from Investing Activities	1,413,891	2,553,507
Cash flows from Financing Activities	-0-	(2,581,355)

The absence of cash flows from discontinued operations is not expected to materially affect future liquidity and capital resources.