| Schedule of joint ventures accounts |
| Schedule of joint ventures accounts |
|
|
|
|
| |
|
2019 |
|
| |
|
(unaudited) |
|
| Condensed income statement information: |
|
|
|
|
| Revenue |
|
$ |
26,488,198 |
|
| Cost of sales |
|
|
21,629,856 |
|
| Net income |
|
$ |
2,984,523 |
|
| |
|
|
|
|
| The Company’s share of net income |
|
$ |
1,087,482 |
|
| |
|
|
|
|
| Condensed balance sheet information: |
|
|
|
|
| Assets |
|
$ |
197,857 |
|
| |
|
|
|
|
| Liabilities |
|
|
|
|
| Accounts payable |
|
$ |
32,442 |
|
| Point Condo Holdings LLC members’ equity |
|
|
165,415 |
|
| Total liabilities and members’ equity |
|
$ |
197,857 |
|
| |
|
|
|
|
| LS- Boston Point LLC’s share of members’ equity |
|
$ |
225,000 |
|
|
| Schedule of joint ventures accounts
|
|
|
|
|
|
|
|
|
| |
|
2018 |
|
|
2017 |
|
| Condensed income statement information: |
|
|
|
|
|
|
|
|
| Revenue |
|
$ |
175,080,991 |
|
|
$ |
278,160 |
|
| |
|
|
|
|
|
|
|
|
| Cost of Sales |
|
$ |
125,086,864 |
|
|
$ |
- |
|
| |
|
|
|
|
|
|
|
|
| Net income (loss) |
|
$ |
27,914,284 |
|
|
$ |
(270,130 |
) |
| |
|
|
|
|
|
|
|
|
| The Company's share of net income (loss) |
|
$ |
11,457,359 |
|
|
$ |
(135,065 |
) |
| |
|
|
|
|
|
|
|
|
| Condensed balance sheet information: |
|
|
|
|
|
|
|
|
| Assets |
|
$ |
598,381 |
|
|
$ |
272,646,514 |
|
| |
|
|
|
|
|
|
|
|
| Liabilities |
|
$ |
12,971 |
|
|
$ |
202,348,780 |
|
| Fenway Point Partners LLC members' equity |
|
|
585,410 |
|
|
|
70,297,734 |
|
| Total liabilities and members' equity |
|
$ |
598,381 |
|
|
$ |
272,646,514 |
|
| |
|
|
|
|
|
|
|
|
| LS-Boston Point LLC's share of members' equity |
|
$ |
- |
|
|
$ |
35,148,867 |
|
The results of operations and financial
position for Point Condo Holdings LLC for the period ended December 31, 2018 are summarized as follows.
| |
|
2018 |
|
| Condensed income statement information: |
|
|
|
|
| Revenue |
|
$ |
2,450,000 |
|
| |
|
|
|
|
| Cost of Sales |
|
$ |
2,213,717 |
|
| |
|
|
|
|
| Net income |
|
$ |
32,802 |
|
| |
|
|
|
|
| The Company's share of net income |
|
$ |
- |
|
| |
|
|
|
|
| Condensed balance sheet information: |
|
|
|
|
| Assets |
|
$ |
24,810,623 |
|
| |
|
|
|
|
| Liabilities |
|
$ |
101,143 |
|
| Point Condo Holdings LLC members' equity |
|
|
24,709,480 |
|
| Total liabilities and members' equity |
|
$ |
24,810,623 |
|
| |
|
|
|
|
| LS-Boston Point LLC's share of members' equity |
|
$ |
9,838,556 |
|
|