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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Nature of Operations

Nature of Operations

 

From 2010 through April 2012, the Company engaged in the business of investing in real estate and purchased land held for investment or sale. 

 

Our current source of revenue consists of interest on a mortgage note receivable from one entity. Any adverse conditions that could effect the financial condition of this entity and specifically their ability to service debt obligation owed, could have a material effect on the financial statements.

Organization and Business


Organization and Business


Direct Investment Holdings Group, Inc. (formerly First Equity Properties, Inc) is a Nevada based corporation organized in December 19, 1996 and the Company is headquartered in Plantation, FL. The Company s principal line of business and source of revenue is currently investments and interest on notes receivable. DIHG is a publicly traded company; however, no trading market presently exists for the shares of common stock and its value is therefore not determinable.

 

Cash Equivalents

Cash Equivalents


For purposes of the statement of cash flows, the Company considers all short-term investments with original maturities of three months or less to be cash equivalents.

 

Accounting Estimates

Accounting Estimates


The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

 

Income Taxes

Income Taxes


The Company accounts for income taxes in accordance with Accounting Standards Codification, (“ASC”) No. 740, Accounting for Income Taxes”. ASC 740 requires an asset and liability approach to financial accounting for income taxes. In the event differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities result in deferred tax assets, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance is provided for a portion or all of the deferred tax assets when there is an uncertainty regarding the Company’s ability to recognize the benefits of the assets in future years. Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years. Since management could not determine the likelihood that the benefit of the deferred tax asset would be realized no deferred tax asset was recognized by the Company.

 

Earnings (loss) per Share

Earnings (loss) per Share


Earnings (loss) per share (EPS) are calculated in accordance with Accounting Standards Codification, (“ASC”) No. 260, Earnings per Share (ASC 260), which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common stockholders by the weighted average number of common shares outstanding during the period. Diluted EPS does not apply to the Company due to the absence of dilutive potential common shares. The adoption of ASC 260 had no effect on previously reported EPS.