v3.10.0.1
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2018
Sep. 30, 2017
Sep. 30, 2018
Sep. 30, 2017
Revenues:        
Interest on delinquent association fees $ 459,505 $ 593,613 $ 1,574,960 $ 1,888,205
Administrative and late fees 59,517 64,959 178,146 218,883
Recoveries in excess of cost - special product 31,446 134,787 90,546 219,160
Underwriting and other revenues 79,838 87,286 188,024 221,065
Rental revenue 151,204 161,726 591,553 496,614
Total revenues 781,510 1,042,371 2,623,229 3,043,927
Operating Expenses:        
Professional fees 432,265 533,591 888,949 1,639,278
Settlement costs with associations 11,731 101,175 38,846 257,256
Selling, general and administrative 71,864 178,615 224,079 630,466
Provision for credit losses     581  
Real estate management and disposal 178,372 144,992 460,312 414,928
Depreciation and amortization 10,884 18,825 55,195 65,015
Collection costs 8,797 37,994 38,959 136,489
Other operating expenses 3,614 4,153 15,493 10,969
Total operating expenses 990,927 1,489,401 2,696,748 4,633,633
Operating loss (209,417) (447,030) (73,519) (1,589,706)
Other income (loss)        
Interest expense (377,387) (122,406) (471,963) (375,042)
Gain (loss) on litigation     405,000 (505,000)
Loss before income taxes (586,804) (569,436) (140,482) (2,469,748)
Income tax expense   4,134,436 0 3,431,536
Net Loss $ (586,804) $ (4,703,872) $ (140,482) $ (5,901,284)
Net loss per share:        
Basic $ (0.94) $ (14.25) $ (0.22) $ (17.88)
Diluted $ (0.94) $ (14.25) $ (0.22) $ (17.88)
Weighted average number of common shares outstanding:        
Basic 625,318 330,000 625,318 330,000
Diluted 625,318 330,000 625,318 330,000
Service [Member]        
Operating Expenses:        
Staff costs and payroll $ 273,400 $ 470,056 $ 974,334 $ 1,479,232

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