v3.10.0.1
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2018
Jun. 30, 2017
Jun. 30, 2018
Jun. 30, 2017
Revenues:        
Interest on delinquent association fees $ 564,593 $ 602,944 $ 1,115,455 $ 1,294,592
Administrative and late fees 50,301 75,889 118,629 153,924
Recoveries in excess of cost - special product (8,437) 63,434 59,100 84,373
Underwriting and other revenues 53,625 65,050 108,186 133,779
Rental revenue 217,904 170,283 440,349 334,888
Total revenues 877,986 977,600 1,841,719 2,001,556
Operating Expenses:        
Professional fees 121,577 593,037 456,684 1,105,687
Settlement costs with associations 11,403 90,596 27,115 156,081
Selling, general and administrative 79,667 207,175 152,215 451,852
Provision for credit losses     581  
Real estate management and disposal 162,578 139,815 281,940 269,935
Depreciation and amortization 22,156 30,752 44,311 46,190
Collection costs 29,560 50,402 30,162 98,496
Other operating expenses 7,578 3,743 11,879 6,815
Total operating expenses 733,170 1,611,475 1,705,821 3,144,232
Operating income (loss) 144,816 (633,875) 135,898 (1,142,676)
Other income (loss)        
Interest expense (94,576) (126,024) (94,576) (252,636)
Gain (loss) on litigation 405,000 (505,000) 405,000 (505,000)
Income (loss) before income taxes 455,240 (1,264,899) 446,322 (1,900,312)
Income tax expense (benefit)   (470,388) 0 (702,900)
Net income (loss) $ 455,240 $ (794,511) $ 446,322 $ (1,197,412)
Net income (loss) per share:        
Basic $ 0.07 $ (0.24) $ 0.07 $ (0.36)
Diluted $ 0.07 $ (0.24) $ 0.07 $ (0.36)
Weighted average number of common shares outstanding:        
Basic 6,253,189 3,300,000 6,253,189 3,300,000
Diluted 6,253,189 3,300,000 6,253,189 3,300,000
Service [Member]        
Operating Expenses:        
Staff costs and payroll $ 298,651 $ 495,955 $ 700,934 $ 1,009,176

Source