Registration statement for securities to be issued by real estate companies

BALANCE SHEETS

v3.7.0.1
BALANCE SHEETS - USD ($)
Mar. 31, 2017
Dec. 31, 2016
Mar. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Assets          
Cash $ 1,355,905 $ 1,561,863 $ 1,194,182 $ 1,834,082 $ 5,874,921
Escrow deposit 596,070        
Mortgages receivable 40,072,875 32,521,588 $ 29,270,142 26,017,867  
Mortgages receivable, affiliate   1,229,022   1,515,000  
Interest and fees receivable 498,423 478,928   265,492  
Other receivables 178,231 182,842   17,500  
Due from borrowers 153,923 81,911   60,499  
Prepaid insurance 32,260        
Property and equipment, net 494,619 397,448      
Real estate owned 1,177,291 1,222,454   1,001,054  
Pre-offering costs   625,890   45,000  
Deposits on property 32,000        
Deferred financing costs 66,567 67,475   38,992  
Total assets 44,658,164 38,369,421   30,795,486  
Liabilities          
Line of credit 4,150,100 8,113,943   6,000,000  
Mortgage payable 308,343 310,000      
Notes payable, other 169,338        
Accrued expenses 314,870 196,086      
Security deposit held 800 800      
Advances from borrowers 671,430 291,875   107,714  
Due to shareholders 25,568 656,296   230,409  
Deferred revenue 402,766 290,456   190,017 118,718
Accrued interest 13,035 24,350   37,829  
Total liabilities 6,056,250 9,883,806   6,565,969  
Shareholders'/members' equity:          
Preferred shares - $.001 par value; 5,000,000 shares authorized; no shares issued      
Common stock - $.001 par value; 50,000,000 authorized; 11,103,237 issued and outstanding 11,103        
Additional paid-in capital 37,980,133        
Members' equity 28,485,615   24,229,517 $ 16,104,075
Retained earnings 610,678        
Total shareholders'/members' equity 38,601,914 28,485,615   24,229,517  
Total liabilities and shareholders'/members' equity $ 44,658,164 $ 38,369,421   $ 30,795,486