Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Operations

v3.20.1
Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended
Mar. 31, 2020
Mar. 31, 2019
Revenues:    
Interest on delinquent association fees $ 219,514 $ 414,275
Administrative and late fees 23,045 39,493
Recoveries in excess of cost - special product 22,628 21,770
Underwriting and other revenues 27,929 40,724
Rental revenue 48,080 147,669
Total revenues 341,196 663,931
Operating Expenses:    
Professional fees 506,995 429,309
Settlement costs with associations 11,920 1,892
Selling, general and administrative 80,223 90,274
Recovery of cost from related party receivable (100,000)  
Real estate management and disposal 85,342 197,128
Depreciation and amortization 5,812 17,865
Collection costs (8,321) (23,087)
Other operating expenses 3,794 8,537
Total operating expenses 901,824 985,063
Operating loss from continuing operations (560,628) (321,132)
Interest expense 6,894 1,033
Loss from continuing operations before income taxes (567,522) (322,165)
Net loss from continuing operations (567,522) (322,165)
Gain on disposal of discontinued operations 16,428  
Loss from operations of discontinued operations 16,426 (134,853)
Net gain/(loss) from discontinued operations 16,428 (134,853)
Net loss $ (551,094) $ (457,018)
Earnings/(loss) per share:    
Basic loss per common share - continuing operations $ (0.18) $ (0.10)
Basic earnings/(loss) per common share - discontinued operations 0.01 (0.04)
Basic loss per common share - net loss (0.17) (0.15)
Diluted loss per common share - continuing operations (0.18) (0.10)
Diluted earnings/(loss) per common share - discontinued operations 0.01 (0.04)
Diluted loss per common share - net loss $ (0.17) $ (0.15)
Weighted average number of common shares outstanding:    
Basic 3,233,030 3,131,939
Diluted 3,233,030 3,131,939
Service [Member]    
Operating Expenses:    
Staff costs and payroll $ 316,059 $ 263,145