Mortgage Loans Receivable

3 Months Ended

Jun. 30, 2011

SEC Schedule, Article 12-29, Mortgage Loans on Real Estate

Mortgage Loans on Real Estate, by Loan Disclosure [Text Block]

NOTE 6 – Mortgage Loans Receivable

On April 25, 2011 the Company provided a $321,790 first mortgage loan to a private real estate developer for the purchase of a foreclosed residential property in Southlake, Texas.  The real estate note is for a maximum term of twenty-six (26) months and is structured as an interest only, participating mortgage.  The stated interest rate is ten percent (10%) for the first fourteen (14) months and twelve percent (12%) for the final twelve (12) months of the term.  The Company is also entitled to 20% of any profits realized from the sale of the property.