Condensed Consolidated Statements of Operations - USD ($) |
3 Months Ended | 6 Months Ended | ||
|---|---|---|---|---|
Jun. 30, 2019 |
Jun. 30, 2018 |
Jun. 30, 2019 |
Jun. 30, 2018 |
|
| Revenues: | ||||
| Interest on delinquent association fees | $ 463,738 | $ 564,593 | $ 878,013 | $ 1,115,455 |
| Administrative and late fees | 43,314 | 50,301 | 82,807 | 118,629 |
| Recoveries in excess of cost - special product | 4,502 | (8,437) | 26,272 | 59,100 |
| Underwriting and other revenues | 74,791 | 53,625 | 115,515 | 108,186 |
| Net commission revenue | 181,391 | 280,159 | ||
| Rental revenue | 72,285 | 217,904 | 219,954 | 440,349 |
| Total revenues | 840,021 | 877,986 | 1,602,720 | 1,841,719 |
| Operating Expenses: | ||||
| Professional fees | 547,823 | 121,577 | 1,150,535 | 456,684 |
| Settlement costs with associations | 38,286 | 11,403 | 40,178 | 27,115 |
| Selling, general and administrative | 126,362 | 79,667 | 237,633 | 152,215 |
| Provision for credit losses | (7,375) | (7,375) | 581 | |
| Real estate management and disposal | 100,306 | 162,578 | 297,434 | 281,940 |
| Depreciation and amortization | 20,782 | 22,156 | 39,902 | 44,311 |
| Collection costs | 9,786 | 29,560 | (13,301) | 30,162 |
| Other operating expenses | 16,191 | 7,578 | 30,687 | 11,879 |
| Total operating expenses | 1,227,838 | 733,170 | 2,439,768 | 1,705,821 |
| Operating income (loss) | (387,817) | 144,816 | (837,048) | 135,898 |
| Interest expense | 62,686 | 94,576 | 70,473 | 94,576 |
| Gain on litigation | (405,000) | (405,000) | ||
| Income (loss) before income taxes | (450,503) | 455,240 | (907,521) | 446,322 |
| Net income (loss) | $ (450,503) | $ 455,240 | $ (907,521) | $ 446,322 |
| Income (loss) per share: | ||||
| Basic | $ (0.14) | $ 0.73 | $ (0.29) | $ 0.71 |
| Diluted | $ (0.14) | $ 0.73 | $ (0.29) | $ 0.71 |
| Weighted average number of common shares outstanding: | ||||
| Basic | 3,134,261 | 625,319 | 3,133,106 | 625,319 |
| Diluted | 3,134,261 | 625,319 | 3,133,106 | 625,319 |
| Service [Member] | ||||
| Operating Expenses: | ||||
| Staff costs and payroll | $ 375,677 | $ 298,651 | $ 664,075 | $ 700,934 |
| X | ||||||||||
- Definition Administrative and late fees. No definition available.
|
| X | ||||||||||
- Definition Collection cost. No definition available.
|
| X | ||||||||||
- Definition Interest on delinquent association fees. No definition available.
|
| X | ||||||||||
- Definition Real estate management and disposal. No definition available.
|
| X | ||||||||||
- Definition Recoveries on collection of assessments in excess of cost. No definition available.
|
| X | ||||||||||
- Definition Rental revenue. No definition available.
|
| X | ||||||||||
- Definition Underwriting fees and other revenues. No definition available.
|
| X | ||||||||||
- Definition Amount of commission revenue from buying and selling securities on behalf of customers. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Cost of labor directly related to good produced and service rendered. Includes, but is not limited to, payroll cost and equity-based compensation. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
|
| X | ||||||||||
- Definition The current period expense charged against earnings on long-lived, physical assets not used in production, and which are not intended for resale, to allocate or recognize the cost of such assets over their useful lives; or to record the reduction in book value of an intangible asset over the benefit period of such asset; or to reflect consumption during the period of an asset that is not used in production. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period per each share of common stock or unit outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition The amount of net income (loss) for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. Reference 1: http://www.xbrl.org/2003/role/exampleRef
|
| X | ||||||||||
- Definition Amount of gain (loss) recognized in settlement of litigation and insurance claims. Excludes claims within an insurance entity's normal claims settlement process. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of the cost of borrowed funds accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of litigation expense, including but not limited to legal, forensic, accounting, and investigative fees. No definition available.
|
| X | ||||||||||
- Definition Generally recurring costs associated with normal operations except for the portion of these expenses which can be clearly related to production and included in cost of sales or services. Includes selling, general and administrative expense. No definition available.
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
|
| X | ||||||||||
- Definition The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition A fee charged for services from professionals such as doctors, lawyers and accountants. The term is often expanded to include other professions, for example, pharmacists charging to maintain a medicinal profile of a client or customer. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- Definition Amount of expense related to estimated loss from loan and lease transactions. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/disclosureRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition The aggregate total costs related to selling a firm's product and services, as well as all other general and administrative expenses. Direct selling expenses (for example, credit, warranty, and advertising) are expenses that can be directly linked to the sale of specific products. Indirect selling expenses are expenses that cannot be directly linked to the sale of specific products, for example telephone expenses, Internet, and postal charges. General and administrative expenses include salaries of non-sales personnel, rent, utilities, communication, etc. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Definition The average number of shares or units issued and outstanding that are used in calculating diluted EPS or earnings per unit (EPU), determined based on the timing of issuance of shares or units in the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Number of [basic] shares or units, after adjustment for contingently issuable shares or units and other shares or units not deemed outstanding, determined by relating the portion of time within a reporting period that common shares or units have been outstanding to the total time in that period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
|
| X | ||||||||||
- Details
|