| Carrying amounts of assets and liabilities |
| |
|
June 30,
2013
|
|
|
December 31,
2012
|
|
| Assets: |
|
|
|
|
|
|
| Prepaid expenses – current portion |
|
$ |
- |
|
|
$ |
- |
|
| Deposits in real estate under contract |
|
|
- |
|
|
|
82,145 |
|
| Deposit |
|
|
- |
|
|
|
- |
|
| Real estate held for sale |
|
|
- |
|
|
|
1,035,570 |
|
| Assets of discontinued operations |
|
$ |
- |
|
|
$ |
1,117,715 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Accounts payables and accrued expenses |
|
$ |
30,664 |
|
|
$ |
30,664 |
|
| Liabilities of discontinued operations |
|
$ |
30,664 |
|
|
$ |
30,664 |
|
|
| |
|
December 31,
2012
|
|
|
December 31,
2011
|
|
| Assets: |
|
|
|
|
|
|
| Prepaid expenses – current portion |
|
$ |
- |
|
|
$ |
20,000 |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Deposits in real estate under contract |
|
|
82,145 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Deposit |
|
|
- |
|
|
|
3,500 |
|
| Real estate held for sale |
|
|
1,035,570 |
|
|
|
- |
|
| |
|
|
|
|
|
|
|
|
| |
|
|
|
|
|
|
|
|
| Assets of discontinued operations |
|
$ |
1,117,715 |
|
|
$ |
23,500 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities: |
|
|
|
|
|
|
|
|
| Accounts payables and accrued expenses |
|
$ |
30,664 |
|
|
$ |
- |
|
| Liabilities of discontinued operations |
|
$ |
30,664 |
|
|
$ |
- |
|
|
| Discontinued operations and real estate business |
| |
|
For the Three Months ended June 30, 2013 |
|
|
For the Three Months ended June 30, 2012 |
|
|
For the Six Months ended June 30, 2013 |
|
|
For the Six Months ended June 30, 2012 |
|
| Revenues – real estate |
|
$ |
283,966 |
|
|
$ |
- |
|
|
$ |
1,270,916 |
|
|
$ |
- |
|
| Cost of sales- real estate |
|
|
(243,837 |
) |
|
|
- |
|
|
|
(1,061,320 |
) |
|
|
- |
|
| Gross profit |
|
|
40,129 |
|
|
|
- |
|
|
|
209,596 |
|
|
|
- |
|
| Operating and other non-operating expenses |
|
|
(30,656 |
) |
|
|
(1,302,620 |
) |
|
|
(91,343 |
) |
|
|
(1,329,925 |
) |
| |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| Income (loss) from discontinued operations |
|
$ |
9,473 |
|
|
$ |
(1,302,620 |
) |
|
$ |
118,253 |
|
|
$ |
(1,329,925 |
) |
|
| |
|
For the Year Ended December 31, 2012 |
|
|
Period from inception
(April 30, 2011) to
December 31, 2011
|
|
| Revenues – real estate |
|
$ |
724,090 |
|
|
$ |
- |
|
| Cost of sales- real estate |
|
|
(576,126) |
|
|
|
- |
|
| Gross profit |
|
|
147,964 |
|
|
|
- |
|
| Operating and other non-operating expenses |
|
|
(1,558,635 |
) |
|
|
(99,474 |
) |
| |
|
|
|
|
|
|
|
|
| Loss from discontinued operations |
|
$ |
(1,410,671 |
) |
|
$ |
(99,474 |
) |
|