Registration statement for securities to be issued by real estate companies

STATEMENTS OF CASH FLOW

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STATEMENTS OF CASH FLOW - USD ($)
 3 Months Ended 12 Months Ended
Mar. 31, 2017
Mar. 31, 2016
Dec. 31, 2016
Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES        
Net income $ 896,778 $ 683,068 $ 3,050,627 $ 2,306,903
Adjustments to reconcile net income to net cash provided by operating activities:        
Amortization of deferred financing costs 14,559 12,996 47,676 26,916
Loss on sale of real estate, net     87,967 5,476
Impairment loss    
Depreciation expense 5,156      
Gain on sale of real estate (26,478)      
(Increase) decrease in:        
Escrow deposit (596,070)      
Interest and fees receivable (19,495) (50,601) (213,438) (207,098)
Other receivables 4,611 1,751 (72,374) (17,500)
Prepaid Insurance (32,260)      
(Decrease) increase in:        
Due to member (630,728) 58,132 421,592 135,929
Accrued interest (11,315) (8,326) (13,479) 24,548
Accrued expenses 314,870   196,086  
Deferred revenue 112,310 10,250 25,484 71,299
Advances from borrowers 307,543 (11,954) 167,044 29,724
Total adjustments (557,297) 12,248 646,558 69,294
NET CASH PROVIDED BY OPERATING ACTIVITIES 339,481 695,316 3,697,185 2,376,197
CASH FLOWS FROM INVESTING ACTIVITIES        
Proceeds from sale of real estate owned 90,123   1,059,629 421,822
Acquisitions of and improvements to real estate owned (18,482) (85,746) (886,009)  
Purchase of furniture and equipment (102,327)      
Purchase of land and building     397,448  
Security deposit (32,000)   800  
Principal disbursements for mortgages receivable (10,091,528) (5,113,384) (21,580,103) (19,412,438)
Principal collections on mortgages receivable 3,938,601 3,376,109 14,861,360 5,812,116
NET CASH USED FOR INVESTING ACTIVITIES (6,215,613) (1,823,021) (6,941,771) (13,178,500)
CASH FLOWS FROM FINANCING ACTIVITIES        
Proceeds from line of credit 7,595,766 600,000 7,475,000 6,000,000
Repayment of line of credit (11,559,609) (1,600,000) (5,361,057) (5,000,000)
Principal payments on mortgage payable (1,657)      
Proceeds from IPO 13,000,000      
Proceeds from mortgage     310,000  
Pre-offering costs incurred (1,544,197) (73,500) (580,890) (45,000)
Financing costs incurred (13,650) (65,050) (76,159) (12,075)
Member contributions 653,646 1,862,800 5,084,732 7,214,754
Member distributions (2,460,125) (236,445) (3,879,259) (1,396,215)
NET CASH PROVIDED BY FINANCING ACTIVITIES 5,670,174 487,805 2,972,367 6,761,464
NET DECREASE IN CASH (205,958) (639,900) (272,219) (4,040,839)
CASH - BEGINNING OF PERIOD 1,561,863 1,834,082 1,834,082 5,874,921
CASH - END OF PERIOD 1,355,905 1,194,182 1,561,863 1,834,082
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION        
Interest paid $ 101,711 $ 97,540 $ 470,821 $ 170,234