UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 10-Q/A

Amendment No 1

 

   
[X] Quarterly Report pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
   
  For the quarterly period ended September 30, 2015
   
[  ] Transition Report pursuant to 13 or 15(d) of the Securities Exchange Act of 1934
   
  For the transition period from __________ to__________
   
  Commission File Number: 333-178482

 

Praetorian Property, Inc.

(Exact name of registrant as specified in its charter)

   
Nevada 30-0693512
(State or other jurisdiction of incorporation or organization) (IRS Employer Identification No.)
 

7702 E Doubletree Ranch Rd. Ste 300

Scottsdale AZ 88258

(Address of principal executive offices)

 

 
480.902.3399
(Registrant’s telephone number)

 

_______________________________________________________

(Former name, former address and former fiscal year, if changed since last report)

 

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. 

[ ] Yes [X] No

 

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files).  [X] Yes [ ] No

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company.

   
[  ] Large accelerated filer [  ] Accelerated filer
[  ] Non-accelerated filer [X] Smaller reporting company

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). 

[  ] Yes [X] No

 

State the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date: 156,000,000 as of January 12, 2016

  

  

Explanatory Note

 

The purpose of this Amendment No. 1 to the registrant’s Quarterly Report on Form 10-Q for the period ended September 30, 2015, filed with the Securities and Exchange Commission on January 19, 2016 (the “Form 10-Q”), is solely to furnish Exhibit 101 to the Form 10-Q. Exhibit 101 provides the financial statements and related notes from the Form 10-Q formatted in XBRL (Extensible Business Reporting Language).

 

No other changes have been made to the Form 10-Q. This Amendment No. 1 to the Form 10-Q speaks as of the original filing date of the Form 10-Q, does not reflect events that may have occurred subsequent to the original filing date and does not modify or update in any way disclosures made in the original Form 10-Q.

 

 2 

 

Exhibit Number

Description of Exhibit

 

31.1 Certification of Chief Executive Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2 Certification of Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1 Certification of Chief Executive Officer and Chief Financial Officer pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
101** The following materials from the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2015 formatted in Extensible Business Reporting Language (XBRL).
 

 

**Provided herewith

 3 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

   
 

Praetorian Property, Inc.

 

Date:

January 20, 2016

 

By: /s/ Llorn Kylo
  Llorn Kylo
Title: President, Chief Executive Officer, and Director

 4 

   
   
   

 



CERTIFICATIONS

 

I, Llorn Kylo, certify that;

 

1.   I have reviewed this quarterly report on Form 10-Q for the quarter ended September 30, 2015 of Praetorian Property, Inc. (the “registrant”);

 

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d.   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.   The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: January 12, 2016

 

/s/ Llorn Kylo

By: Llorn Kylo

Title: Chief Executive Officer



CERTIFICATIONS

 

I, Munjit Johal, certify that;

 

1.   I have reviewed this quarterly report on Form 10-Q for the quarter ended September 30, 2015 of Praetorian Property, Inc. (the “registrant”);

 

2.   Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

 

3.   Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

 

4.   The registrant’s other certifying officer and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

 

a.   Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

 

b.   Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

 

c.   Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

 

d.   Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant's fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

 

5.   The registrant’s other certifying officer and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of the registrant’s board of directors (or persons performing the equivalent functions):

 

a.   All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

 

b.   Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

 

Date: January 12, 2016

 

/s/ Munjit Johal

By: Munjit Johal

Title: Chief Financial Officer



CERTIFICATION OF CHIEF EXECUTIVE OFFICER AND

CHIEF FINANCIAL OFFICER

PURSUANT TO

18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

 

In connection with the quarterly Report of Praetorian Property, Inc. (the “Company”) on Form 10-Q for the quarter ended September 30, 2015 filed with the Securities and Exchange Commission (the “Report”), I, Llorn Kylo, Chief Executive Officer of the Company, and I, Munjit Johal, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, that:

 

1.The Report fully complies with the requirements of Section 13(a) of the Securities Exchange Act of 1934; and

 

2.The information contained in the Report fairly presents, in all material respects, the consolidated financial condition of the Company as of the dates presented and the consolidated result of operations of the Company for the periods presented.

 

By: /s/ Llorn Kylo
Name: Llorn Kylo
Title: Principal Executive Officer and Director
Date: January 12, 2016
     
By: /s/ Munjit Johal
Name: Munjit Johal
Title: Principal Financial Officer
Date: January 12, 2016

 

This certification has been furnished solely pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.



v3.3.1.900
Document and Entity Information
 9 Months Ended
Sep. 30, 2015
shares
Document And Entity Information  
Entity Registrant Name Praetorian Property, Inc.
Entity Central Index Key 0001537118
Document Type 10-Q/A
Document Period End Date Sep. 30, 2015
Amendment Flag true
Current Fiscal Year End Date --12-31
Is Entity a Well-known Seasoned Issuer? No
Is Entity a Voluntary Filer? No
Is Entity's Reporting Status Current? Yes
Entity Filer Category Smaller Reporting Company
Entity Common Stock, Shares Outstanding 156,000,000
Document Fiscal Period Focus Q3
Document Fiscal Year Focus 2015
Amendment Description Attaching XBRL to filing


v3.3.1.900
Balance Sheet - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Real Estate Inventory    
Properties held for sale $ 5,359,374 $ 7,335,148
Properties under development 7,879,617 6,741,130
Real Estate Inventory $ 13,238,991 14,076,278
Properties held for investment    
Buildings, net 672,465
Land 593,285
Properties held for investment, net 1,265,750
Cash $ 3,858,440 1,098,530
Due from Berkshire Homes, Inc. related party 3,619 156,968
Prepaid Expense 29,607 25,000
TOTAL ASSETS 17,130,657 16,622,526
LIABILITIES AND STOCKHOLDERS DEFICIT    
Accounts payable to related parties 47,503 10,420
Accounts payable and accrued expenses 82,023 72,991
Accrued interest $ 1,502,955 884,705
Security deposit 39,000
Option to purchase deposit 100,000
Promissory notes $ 16,250,000 16,250,000
Total Liabilities 17,882,481 17,357,116
Stockholders Deficit    
Preferred stock, par value $0.0001, 50,000,000 authorized and 2,000,000 and 2,000,000 shares issued and outstanding on September 30, 2015 and December 31, 2014, respectively 200 200
Common stock, par value $0.0001, 1,500,000,000 shares authorized 156,000,000 and 156,000,000 shares issued and outstanding on September 30, 2015 and December 31, 2014, respectively 15,600 15,600
Additional paid-in capital 65,000 65,000
Share subscriptions receivable (20,000) (20,000)
Accumulated deficit (812,624) (795,390)
Total Stockholders Deficit (751,824) (734,590)
TOTAL LIABILITIES AND STOCKHOLDERS DEFICIT $ 17,130,657 $ 16,622,526


v3.3.1.900
Balance Sheet (Parenthetical) - $ / shares
Sep. 30, 2015
Dec. 31, 2014
Statement of Financial Position [Abstract]    
Preferred Stock, Par Value $ 0.0001 $ .0001
Preferred Stock, Shares Authorized 50,000,000 50,000,000
Preferred Stock, Issued and Outstanding 2,000,000 2,000,000
Common stock, Par Value $ 0.0001 $ .0001
Common stock, Shares Authorized 1,500,000,000 1,500,000,000
Common Stock, Shares Issued and Outstanding 156,000,000 156,000,000


v3.3.1.900
Statements of Operations - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Income Statement [Abstract]        
REVENUES $ 4,081,975 $ 5,944,150 $ 12,813,132 $ 9,573,781
RENTAL INCOME 17,215 127,715
TOTAL REVENUES 4,099,190 $ 5,944,150 12,940,847 $ 9,573,781
COST OF SALES 2,770,034 5,092,800 11,751,495 8,428,915
GROSS PROFIT $ 1,329,156 $ 851,350 1,189,352 $ 1,144,866
EXPENSES        
Depreciation 16,336
Consulting fees 55,000 $ 11,500
General and administrative $ 94,328 $ 83,328 215,961 $ 200,839
Marketing and public relations 7,697 16,222
Professional fees 23,354 $ 4,225 63,833 $ 31,074
Management fees and expenses 41,196 54,664 164,367 109,190
TOTAL EXPENSES 166,575 142,127 531,719 352,603
INCOME FROM OPERATIONS 1,162,581 709,133 657,633 792,263
OTHER INCOME (EXPENSE)        
Interest expense $ (208,000) $ (208,000) $ (624,000) (580,438)
Gain on settlement of loan receivable 71,878
Gain on sale of property held for investment $ 133 $ 133  
TOTAL OTHER INCOME ( EXPENSE) (207,867) $ (208,000) (623,867) (508,560)
NET INCOME (LOSS) BEFORE INCOME TAXES 954,714 $ 501,223 33,766 $ 283,703
INCOME TAX EXPENSE 51,000 51,000
NET INCOME (LOSS) $ 903,714 $ 501,223 $ (17,234) $ 283,703
NET INCOME PER SHARE: BASIC AND DILUTED $ 0.01 $ 0.00 $ (0.00) $ 0.00
WEIGHTED AVERAGE NUMBER OF SHARES OUTSTANDING: BASIC AND DILUTED 156,000,000 156,000,000 156,000,000 155,800,000


v3.3.1.900
Statements of Cash Flows - USD ($)
 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income (loss) $ (17,234) $ 283,703
Adjustments to reconcile net loss to net cash used in operating activities    
Gain on sale of properties held for investment (133)
Depreciation 16,336
Changes in assets and liabilities    
Properties 837,287 $ (8,163,491)
Accounts payable - related party 37,083 8,169
Accounts payable and accrued expenses 627,282 $ 742,846
Prepaid expenses (4,607)
Net cash provided by (used in) operating activities 1,496,014 $ (7,128,773)
CASH FLOWS FROM INVESTING ACTIVITIES    
Repayment from (advances to) Berkshire Homes, Inc. $ 153,349 (108,094)
Purchase of property held for investment $ (1,256,501)
Proceeds from sale of property held for investment $ 1,110,547
Net cash provided by (used in) investing activities $ 1,263,896 $ (1,364,595)
CASH FLOWS FROM FINANCING ACTIVITIES    
Proceeds from sale of stock 2,000
Proceeds from promissory notes 8,000,000
Net cash provided by financing activities 8,002,000
NET CHANGE IN CASH $ 2,759,910 (491,368)
CASH - BEGINNING OF PERIOD 1,098,530 2,186,879
CASH - END OF PERIOD $ 3,858,440 $ 1,695,511
SUPPLEMENTAL CASH FLOW INFORMATION:    
Cash paid for interest
Cash paid for taxes
NON-CASH TRANSACTIONS:    
Subscription receivable $ 20,000


v3.3.1.900
NATURE OF OPERATIONS AND CONTINUANCE OF BUSINESS
 9 Months Ended
Sep. 30, 2015
Nature Of Operations And Continuance Of Business  
NATURE OF OPERATIONS AND CONTINUANCE OF BUSINESS

Organization and Description of Business

 

Praetorian Property, Inc. (the “Company”) was incorporated in Delaware on July 5, 2011. Recently, the Company moved to its state of incorporation to the State of Nevada. The business plan of the Company was to create a marketing and promotion platform for a stretch and fitness apparatus. On July 3, 2013, the Company changed its business to acquiring, improving and selling real property, and changed its name from L3 Corp. to Longview Real Estate, Inc. On January 30, 2014, the Company changed its name to Cannabis-Rx Inc. with the Company’s real estate business expanding to include the regulated cannabis industry by purchasing and selling real estate assets and leasing space and related facilities to licensed marijuana growers and dispensary owners for their operations. In addition, the Company plans to expand its business to provide financing and consulting services to the cannabis industry in addition to commercial real estate solutions. On September 30, 3015, the Company changed its name to Praetorian Property, Inc.

 

The accompanying unaudited interim financial statements of Praetorian Property, Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the Company’s audited 2014 annual financial statements and notes thereto filed on Form 10-K with the SEC. In the opinion of management, all adjustments, consisting of normal reoccurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods present have been reflected herein. The results of operation for interim periods are not necessarily indicative of the results to be expected for the full year. Notes to the financial statements, which would substantially duplicate the disclosure required in the Company’s fiscal 2014 financial statements have been omitted.


v3.3.1.900
GOING CONCERN
 9 Months Ended
Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
GOING CONCERN

 

These consolidated financial statements have been prepared on a going concern basis which assumes the Company will be able to realize its assets and discharge its liabilities in the normal course of business for the foreseeable future. The Company has incurred losses since inception resulting in an accumulated deficit of $812,624 as of September 30, 2015. Further losses are anticipated in the development of its business raising substantial doubt about the Company’s ability to continue as a going concern. The ability to continue as a going concern is dependent upon the Company generating profitable operations in the future and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management intends to finance operating costs over the next twelve months with loans and/or private placement of common stock. These financial statements do not include any adjustments relating to the recoverability and classification of recorded asset amounts, or amounts and classification of liabilities that might result from this uncertainty.


v3.3.1.900
REAL ESTATE INVENTORY
 9 Months Ended
Sep. 30, 2015
Notes to Financial Statements  
REAL ESTATE INVENTORY

Inventories are stated at the lower of cost or market. During the current interim period, the Company received net proceeds of $837,287 from real estate properties sales, net of purchases.


v3.3.1.900
PROMISSORY NOTES
 9 Months Ended
Sep. 30, 2015
Notes to Financial Statements  
PROMISSORY NOTES

During 2013, the Company borrowed $150,000 under two notes at 18% interest per annum.  The promissory notes are unsecured. The notes have matured but have not been declared in default. We continue to accrue interest at the face amount.

During 2013, the Company borrowed $8,100,000 under three notes at 5% interest per annum. The promissory notes are unsecured. The notes have matured but have not been declared in default. We continue to accrue interest at the face amount.

On January 27, 2014 the Company issued a promissory note in the principal amount of $4,000,000 at the interest rate of 5% per annum and due and payable twenty four months from the date of issuance, subject to acceleration in the event of default and may be prepaid in whole or in part without penalty or premium.

On February 19, 2014 the Company issued a promissory note in the principal amount of $4,000,000 at the interest rate of 5% per annum and due and payable twenty four months from the date of issuance, subject to acceleration in the event of default and may be prepaid in whole or in part without penalty or premium.  

On March 27, 2014 the Company entered into a secured lending agreement in the principal amount of $14,000,000 at the interest rate of 5% per annum and due and payable twenty four months from the date of issuance, subject to acceleration in the event of default and may be prepaid in whole or in part without penalty or premium. No funds have been received from this agreement as of September 30, 2015

Total interest expense recorded on the notes for the periods ended September 30, 2015 and 2014 was $624,000 and $580,438.


v3.3.1.900
RELATED PARTY TRANSACTIONS
 9 Months Ended
Sep. 30, 2015
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS

As of September 30, 2015, the Company had a balance of $47,503 owed to a director and officer for management fees and expenses paid on behalf of the Company.

 

During 2014, the Company advanced $156,968 to Berkshire Homes, Inc., a public company with a common director and management. During 2015, the Company received repayments of $153,349, of the outstanding advances. As of September 30, 2015, the outstanding balance was $ 3,619.

 

The balances owed to or by related parties are unsecured, non-interest bearing and repayable on demand.


v3.3.1.900
NATURE OF OPERATIONS AND CONTINUANCE OF BUSINESS (Details Narrative)
 9 Months Ended
Sep. 30, 2015
Nature Of Operations And Continuance Of Business Details Narrative  
Date of Incorporation Jul. 05, 2011
Fiscal Year End --12-31


v3.3.1.900
GOING CONCERN (Details Narrative) - USD ($)
Sep. 30, 2015
Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]    
Accumulated deficit $ (812,624) $ (795,390)


v3.3.1.900
PROMISSORY NOTES (Details Narrative) - USD ($)
 3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Interest expense $ (208,000) $ (208,000) $ (624,000) $ (580,438)
Promissory Note 2        
Issuance of promissory notes $ 150,000   $ 150,000  
Interest rate on promissory notes 5.00%   5.00%  
Maturity Period     24 months  
Promissory Note 1        
Issuance of promissory notes $ 150,000   $ 150,000  
Interest rate on promissory notes 5.00%   5.00%  
Maturity Period     24 months  
Secured Lending Agmt        
Date of Debt Instrument     Mar. 27, 2014  
Issuance of promissory notes $ 14,000,000   $ 14,000,000  
Interest rate on promissory notes 5.00%   5.00%  
Maturity Period     24 months  
Promissory Note 4        
Date of Debt Instrument     Feb. 19, 2014  
Issuance of promissory notes $ 4,000,000   $ 4,000,000  
Interest rate on promissory notes 5.00%   5.00%  
Maturity Period     24 months  
Promissory Note 3        
Date of Debt Instrument     Jan. 27, 2014  
Issuance of promissory notes $ 4,000,000   $ 4,000,000  
Interest rate on promissory notes 5.00%   5.00%  
Maturity Period     24 months  


v3.3.1.900
RELATED PARTY TRANSACTIONS (Details Narrative) - USD ($)
 9 Months Ended
Sep. 30, 2015
Dec. 31, 2014
Related Party Transactions [Abstract]    
Accounts payable to related parties $ 47,503 $ 10,420
Advances repaid by Berkshire Homes, Inc. 153,349  
Due from Berkshire Homes, Inc. $ 3,619 $ 156,968


v3.3.1.900
REAL ESTATE INVENTORY (Tables)
 9 Months Ended
Sep. 30, 2015
Real Estate Inventory Tables  
Schedule of Real Estate Inventory
Inventory balance: 12/31/2014     14,076,278  
Properties Sold:     (11,751,495 )
Properties Acquired:     10,914,208  
Ending Balance: (9/30/15)     13,238,991  


v3.3.1.900
REAL ESTATE INVENTORY - Schedule of Real Estate Inventory - USD ($)
 6 Months Ended 9 Months Ended
Jun. 30, 2015
Sep. 30, 2015
Sep. 30, 2014
Dec. 31, 2014
Real Estate Inventory - Schedule Of Real Estate Inventory        
Inventory $ 12,184,561 $ 13,238,991   $ 14,076,278
Properties Sold (8,960,603) 1,110,547  
Properties Acquired $ 7,068,886 $ 10,914,208    


v3.3.1.900
REAL ESTATE INVENTORY (Details Narrative) - USD ($)
 3 Months Ended 6 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
Notes to Financial Statements            
Inventory     $ 1,891,717 $ (10,223,466) $ 837,287 $ (8,163,491)
Disposed of a property held for investment     $ (8,960,603)   1,110,547
Gain on disposition of property held for investment $ 133     $ 133  
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