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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) (USD $)
In Thousands
Jun. 30, 2011
Dec. 31, 2010
ASSETS    
Cash $ 1 $ 1
Restricted cash 5 5
Receivables 669 705
Land and improvement inventories 639 639
Other assets 185 189
Total assets 1,499 1,539
LIABILITIES    
Accounts payable and accrued expenses 112 121
Accrued real estate taxes 4 9
Accrued interest:    
Primary lender 261 240
Debentures 46,702 44,121
Other 2,803 2,773
Credit agreements -    
Primary lender 500 500
Notes payable 1,198 1,198
Subordinated convertible debentures payable 9,059 9,059
Convertible debentures payable 1,500 1,500
Total liabilities 62,139 59,521
STOCKHOLDERS' DEFICIENCY    
Preferred stock, par value $1.00 per share; authorized 5,000,000 shares; 2,000,000 Class A cumulative convertible shares issued and outstanding; (liquidation preference of $8,000,000 and cumulative dividends) 2,000 2,000
Common stock, par value $.10 per share; authorized 25,000,000 shares; 5,317,758 shares issued and outstanding 532 532
Paid-in capital 13,498 13,498
Accumulated deficit (76,670) (74,012)
Total stockholders' deficiency (60,640) (57,982)
Total liabilities and stockholders' deficency $ 1,499 $ 1,539