| Schedule of company's assets at fair value |
The following table sets forth by Level, within the fair value hierarchy, the Company’s assets at fair value as of September 30, 2023:
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Stocks and ETFs |
|
$ |
— |
|
$ |
1,932,270 |
|
$ |
— |
|
$ |
1,932,270 |
Mutual funds |
|
|
15,599,486 |
|
|
— |
|
|
— |
|
|
15,599,486 |
Debt securities |
|
|
18,699,251 |
|
|
813,650 |
|
|
— |
|
|
19,512,901 |
Total liquid investments |
|
$ |
34,298,737 |
|
$ |
2,745,920 |
|
$ |
— |
|
$ |
37,044,657 |
Real estate owned |
|
$ |
— |
|
$ |
— |
|
$ |
3,481,177 |
|
$ |
3,481,177 |
The following table sets forth by Level, within the fair value hierarchy, the Company’s assets at fair value as of December 31, 2022:
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|
|
|
|
|
|
|
|
|
|
|
|
|
Level 1 |
|
Level 2 |
|
Level 3 |
|
Total |
Stocks and ETF’s |
|
$ |
3,282,659 |
|
$ |
1,446,065 |
|
$ |
— |
|
$ |
4,728,724 |
Mutual funds |
|
|
14,850,839 |
|
|
— |
|
|
— |
|
|
14,850,839 |
Debt securities |
|
|
3,880,045 |
|
|
1,116,854 |
|
|
— |
|
|
4,996,899 |
Total liquid investments |
|
$ |
22,013,543 |
|
$ |
2,562,919 |
|
$ |
— |
|
$ |
24,576,462 |
Real estate owned |
|
|
— |
|
|
— |
|
$ |
5,216,149 |
|
$ |
5,216,149 |
|
| Schedule of company's available-for-sale (AFS) securities and other comprehensive income (OCI) |
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|
|
|
|
|
|
|
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|
|
|
|
|
|
Three Months Ended |
|
Nine months Ended |
|
|
September 30, |
|
September 30, |
|
|
2023 |
|
2022 |
|
2023 |
|
2022 |
OCI from AFS securities: |
|
|
|
|
|
|
|
|
|
|
|
|
Unrealized (losses) on AFS securities at beginning of period |
|
$ |
(376,078) |
|
$ |
(425,972) |
|
$ |
(561,490) |
|
$ |
(476,016) |
Unrealized gain (losses) on securities available-for-sale – debt securities |
|
|
(83,606) |
|
|
(131,569) |
|
|
101,806 |
|
|
(81,525) |
Change in OCI from AFS securities |
|
|
(83,606) |
|
|
(131,569) |
|
|
101,806 |
|
|
(81,525) |
Balance at end of period |
|
$ |
(459,684) |
|
$ |
(557,541) |
|
$ |
(459,684) |
|
$ |
(557,541) |
|
| Schedule of Company's Level 3 Investments of Real Estate Owned |
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|
|
|
|
|
|
|
|
Nine Months Ended |
|
Twelve Months Ended |
|
|
September 30, 2023 |
|
December, 31, 2022 |
Real Estate Owned at the beginning of period |
|
$ |
5,216,149 |
|
$ |
6,559,010 |
Principal basis transferred to Real Estate Owned |
|
|
1,186,663 |
|
|
1,376,733 |
Charges and/or improvements |
|
|
214,642 |
|
|
126,443 |
Proceeds from sale of Real Estate Owned |
|
|
(2,636,410) |
|
|
(2,090,880) |
Impairment |
|
|
(612,500) |
|
|
(799,909) |
Gain on sale of Real Estate Owned |
|
|
112,633 |
|
|
44,752 |
Balance at end of period |
|
$ |
3,481,177 |
|
$ |
5,216,149 |
|