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CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION (Unaudited) (USD $)
In Thousands
Sep. 30, 2011
Dec. 31, 2010
ASSETS  
Cash$ 1$ 1
Restricted cash55
Receivables639705
Land and improvement inventories639639
Other assets197189
Total asets1,4811,539
LIABILITIES  
Accounts payable and accrued expenses116121
Accrued real estate taxes69
Accrued interest:  
Primary lender272240
Debentures48,04844,121
Other2,8192,773
Credit agreements -  
Primary lender500500
Notes payable1,1981,198
Subordinated convertible debentures payable9,0599,059
Convertible debentures payable1,5001,500
Total liabilities63,51859,521
STOCKHOLDERS' DEFICIENCY  
Preferred stock, par value $1.00 per share;authorized 5,000,000 shares; 2,000,000Class A cumulative convertible shares issuedand outstanding; (liquidation preference of $8,000,000 and cumulative dividends)2,0002,000
Common stock, par value $.10 per share;authorized 25,000,000 shares; 5,317,758 shares issued and outstanding532532
Paid-in capital13,49813,498
Accumulated deficit(78,067)(74,012)
Total stockholders' deficiency(62,037)(57,982)
Total liabilities and stockholders' deficiency$ 1,481$ 1,539