DEFERRED INCOME	3 Months Ended
Mar. 31, 2019
Deferred Income
DEFERRED INCOME	NOTE 9. DEFERRED INCOME In previous years, the Company has sold properties to related parties where we have had continuing involvement in the form of management or financial assistance associated with the sale of the properties. Because of the continuing involvement associated with the sale, the sales criteria for the full accrual method is not met, and as such the Company has deferred some or all of the gain recognition and accounted for the sale by applying the finance, deposit, installment or cost recovery methods, as appropriate, until the sales criteria is met. The gain on these transactions have been deferred until the properties are sold to a non-related third party. As of March 31, 2019, we had deferred gain of $13.9 million. For the quarter ended March 31, 2019, the Company recognized, from the proportionate share of the remaining deferred gain, $3.6 million as gain on sale, as a result of the sale of land to third parties.

The entire disclosure for deferred revenues at the end of the reporting period, and description and amounts of significant changes that occurred during the reporting period. Deferred revenue is a liability as of the balance sheet date related to a revenue producing activity for which revenue has not yet been recognized. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP.

Reference 1: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 430
-URI http://asc.fasb.org/topic&trid=2122452

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