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Basis of Presentation
12 Months Ended
Dec. 31, 2015
Accounting Policies [Abstract]  
Basis of Presentation

Note 2 – Basis of Presentation

 

Consolidated Financial Statement Presentation

 

We have prepared the consolidated financial statements pursuant to the rules and regulations of the SEC. In our opinion, all adjustments (consisting solely of normal recurring items) necessary for a fair presentation of our financial position as of December 31, 2015 and 2014, the results of our operations for the years ended December 31, 2015 and 2014, and of our cash flows for the years ended December 31, 2015 and 2014 have been included.

 

The Company presents its financial statements on a consolidated basis because it combines its accounts with a wholly-owned subsidiary that discontinued operations in 2002. All significant inter-company balances are eliminated in the consolidated financial statements.

 

Going Concern

 

The financial statements have been prepared assuming the Company will continue as a going concern, which contemplates the continued operations as a public company and paying liabilities in the normal course of business. The Company is being maintained as a corporate shell that is current in its SEC filings. Operations consist only of investments on a temporary basis in publicly traded real estate companies and cash equivalents while management and the board of trustees evaluate real estate opportunities to put into the Company or decide to sell the entity to a party that needs a public shell.

 

At December 31, 2015, our cash in the operating account was $174,283. The increase in cash during 2015 was $163,557. We made redemptions from a money market investment account of $19,278 and received $197,780 from issuing convertible notes payable, which has been and will continue to be used to pay expenses to keep the Company currently filed as a public company. Expenses, such as salaries and rent, have been eliminated so that the only expenses being incurred are to keep the Company current in its SEC filings, such as accounting, audit, legal, and filing fees. Our ability to continue as a going concern will be dependent upon acquiring assets to generate cash flow because marketable securities are our only revenue generating assets and will not generate enough cash flow to allow us to continue as a going concern.

 

There can be no assurance that the Company will be able to acquire an operating company, be acquired by or merge with another company, raise capital or otherwise continue to exist as a going concern. Even if our management is successful in closing a transaction, investors may not value the transaction in the same manner as we did, and investors may not value the transaction as they would value other transactions or alternatives. Failure to obtain external sources of capital and complete a transaction will materially and adversely affect the Company’s ability to continue operations.