Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2020 | Mar. 26, 2021 | Jun. 30, 2020 | |
Document Information [Line Items] | |||
Entity Registrant Name | ENTERPRISE DIVERSIFIED, INC. | ||
Entity Central Index Key | 0001096934 | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Filer Category | Non-accelerated Filer | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Well-known Seasoned Issuer | No | ||
Entity Emerging Growth Company | false | ||
Entity Small Business | true | ||
Entity Interactive Data Current | Yes | ||
Entity Common Stock, Shares Outstanding (in shares) | 2,647,383 | ||
Entity Public Float | $ 3,381,710 | ||
Entity Shell Company | false | ||
Document Type | 10-K | ||
Document Period End Date | Dec. 31, 2020 | ||
Document Fiscal Year Focus | 2020 | ||
Document Fiscal Period Focus | FY | ||
Amendment Flag | false | ||
Title of 12(g) Security | Common Stock, $0.125 par value |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Current Assets | ||
Cash and cash equivalents | $ 341,007 | $ 666,810 |
Accounts receivable, net | 144,791 | 52,889 |
Other current assets | 44,530 | 29,555 |
Current assets - held for resale | 231 | 428 |
Total current assets | 530,559 | 749,682 |
Long-term Assets | ||
Real estate - held for investment, net | 241,876 | 380,515 |
Real estate - held for resale, net | 98,910 | |
Property and equipment, net | 13,707 | 17,753 |
Goodwill, net | 212,445 | 212,445 |
Note receivable | 210,879 | 195,121 |
Long-term investments | 13,574,462 | 10,126,204 |
Lease right-of-use assets | 45,056 | |
Other assets | 73,252 | 73,958 |
Total long-term assets | 14,326,621 | 11,149,962 |
Total assets | 14,857,180 | 11,899,644 |
Current Liabilities | ||
Accounts payable | 65,524 | 157,934 |
Accrued compensation | 281,904 | 175,259 |
Accrued expenses | 24,159 | 23,115 |
Deferred revenue | 192,088 | 204,960 |
Lease liability, current | 46,435 | |
Notes payable, current | 5,609 | 11,453 |
Other current liabilities - held for resale | 146,958 | |
Total current liabilities | 569,284 | 766,114 |
Long-term Liabilities | ||
Notes payable, net of current portion | 244,485 | 499,572 |
Total long-term liabilities | 244,485 | 499,572 |
Total liabilities | 813,769 | 1,265,686 |
Stockholders’ Equity | ||
Preferred stock, $0.001 par value, 30,000,000 shares authorized; none issued | ||
Common stock, $0.125 par value, 2,800,000 shares authorized; 2,602,240 and 2,566,646 shares issued and outstanding | 325,280 | 320,831 |
Additional paid-in capital | 27,439,334 | 27,313,734 |
Accumulated deficit | (13,721,203) | (17,000,607) |
Total stockholders’ equity | 14,043,411 | 10,633,958 |
Total liabilities and stockholders’ equity | $ 14,857,180 | $ 11,899,644 |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2020 | Dec. 31, 2019 |
Preferred Stock Par Value (in dollars per share) | $ 0.001 | $ 0.001 |
Preferred Stock Shares Authorized (in shares) | 30,000,000 | 30,000,000 |
Preferred Stock Shares Issued (in shares) | 0 | 0 |
Common stock, par value (in dollars per share) | $ 0.125 | $ 0.125 |
Common stock, shares authorized (in shares) | 2,800,000 | 2,800,000 |
Common stock, shares issued (in shares) | 2,602,240 | 2,566,646 |
Common stock, shares outstanding (in shares) | 2,602,240 | 2,566,646 |
Consolidated Statements of Oper
Consolidated Statements of Operations - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 5,247,732 | $ 3,589,899 |
Cost of revenues | 648,218 | 816,113 |
Gross profit - asset management | 4,599,514 | 2,773,786 |
Total gross profit | 4,599,514 | 2,773,786 |
Insurance | 54,999 | 94,785 |
Professional fees | 694,749 | 726,274 |
Salaries and wages | 672,785 | 786,797 |
Travel and meals | 4,603 | 34,732 |
Other operating expenses | 191,158 | 429,879 |
Total selling, general and administrative expenses | 1,618,294 | 2,072,467 |
Income from operations | 2,981,220 | 701,319 |
Gain on debt extinguishment | 125,839 | |
Investment income | 92,594 | |
Loss on sale of subsidiary | (4,157,809) | |
Impairment expense | (199,626) | |
Interest expense | (23,651) | (312,745) |
Other income, net | 30,810 | 8,105 |
Total other income (loss) | 132,998 | (4,569,481) |
Income (loss) from continuing operations before income taxes | 3,114,218 | (3,868,162) |
Income tax benefit (expense) | ||
Income (loss) from continuing operations | 3,114,218 | (3,868,162) |
Income (loss) from discontinued operations, net of taxes | 165,186 | (1,510,475) |
Net income (loss) | $ 3,279,404 | $ (5,378,637) |
Net income (loss) per share, basic and diluted (in dollars per share) | $ 1.26 | $ (2.11) |
Net income (loss) per share from continuing operations, basic and diluted (in dollars per share) | 1.20 | (1.52) |
Net income (loss) per share from discontinued operations, basic and diluted (in dollars per share) | $ 0.06 | $ (0.59) |
Weighted average number of shares, basic (in shares) | 2,597,974 | 2,544,896 |
Weighted average number of shares, diluted (in shares) | 2,598,587 | 2,614,896 |
Asset Management [Member] | ||
Revenues | $ 3,690,473 | $ 1,773,276 |
Cost of revenues | ||
Gross profit - asset management | 3,690,473 | 1,773,276 |
Total gross profit | 3,690,473 | 1,773,276 |
Total other income (loss) | 2,283 | 36,565 |
Income (loss) from continuing operations | 3,267,052 | 1,399,615 |
Income (loss) from discontinued operations, net of taxes | ||
Real Estate [Member] | ||
Revenues | 578,313 | 537,763 |
Cost of revenues | 326,636 | 485,459 |
Gross profit - asset management | 251,677 | 52,304 |
Total gross profit | 251,677 | 52,304 |
Total other income (loss) | (17,064) | (4,712,766) |
Income (loss) from continuing operations | 202,676 | (4,998,487) |
Income (loss) from discontinued operations, net of taxes | ||
Internet Operations [Member] | ||
Revenues | 978,946 | 1,066,229 |
Cost of revenues | 321,582 | 330,654 |
Gross profit - asset management | 657,364 | 735,575 |
Total gross profit | 657,364 | 735,575 |
Total other income (loss) | 4,251 | 10,169 |
Income (loss) from continuing operations | 467,824 | 522,626 |
Income (loss) from discontinued operations, net of taxes | ||
Product and Service, Other [Member] | ||
Revenues | 212,631 | |
Cost of revenues | ||
Gross profit - asset management | 212,631 | |
Total gross profit | 212,631 | |
Total other income (loss) | 143,528 | 96,551 |
Income (loss) from continuing operations | (823,334) | (791,916) |
Income (loss) from discontinued operations, net of taxes |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Net income (loss) | $ 3,279,404 | $ (5,378,637) |
Other comprehensive income (loss), net of tax: | ||
Change in foreign currency translation adjustments | (3,054) | |
Comprehensive income (loss) | $ 3,279,404 | $ (5,381,691) |
Consolidated Statements of Chan
Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Total |
Balance (in shares) at Dec. 31, 2018 | 2,544,776 | |||||
Balance at Dec. 31, 2018 | $ 328,160 | $ 27,718,308 | $ (511,901) | $ 3,054 | $ (11,621,970) | $ 15,915,651 |
Net income (loss) | (5,378,637) | (5,378,637) | ||||
Stock issuance (in shares) | 21,870 | |||||
Stock issuance | $ 2,734 | 97,264 | 99,998 | |||
Cancellation of treasury stock | (10,063) | (501,838) | 511,901 | |||
Foreign currency translation reclassification to current earnings | (3,054) | (3,054) | ||||
Balance (in shares) at Dec. 31, 2019 | 2,566,646 | |||||
Balance at Dec. 31, 2019 | $ 320,831 | 27,313,734 | (17,000,607) | 10,633,958 | ||
Net income (loss) | 3,279,404 | 3,279,404 | ||||
Stock issuance (in shares) | 35,594 | |||||
Stock issuance | $ 4,449 | 125,600 | 130,049 | |||
Balance (in shares) at Dec. 31, 2020 | 2,602,240 | |||||
Balance at Dec. 31, 2020 | $ 325,280 | $ 27,439,334 | $ (13,721,203) | $ 14,043,411 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Cash flows (used in) from operating activities: | ||
Net income (loss) from continuing operations | $ 3,114,218 | $ (3,868,162) |
Adjustments to reconcile net income to net cash flows (used in) operating activities: | ||
Unrealized gains on long-term investments | (3,424,267) | (1,820,074) |
Gain on sale of real estate | (286,256) | (73,399) |
Gain on debt extinguishment | (125,839) | |
Loss on sale of subsidiary | 4,157,809 | |
Impairment of long-term assets | 154,015 | |
Deconsolidation of assets and liabilities from sale of subsidiary | (149,425) | |
Depreciation and amortization | 20,526 | 161,130 |
Bad debt expense | 210 | 88,511 |
Accrued stock compensation expense | 240,000 | 128,849 |
Accrued interest income on notes receivable | (15,758) | (15,715) |
Loss on disposal of property and equipment | 4,088 | |
Gain on foreign currency reclassification | (3,054) | |
(Increase) decrease in: | ||
Accounts receivable, net | (92,112) | (32,614) |
Other current assets | (14,975) | (10,980) |
Inventory | 4,160 | |
Increase (decrease) in: | ||
Accrued expenses | (3,641) | (95,546) |
Accounts payable | (92,410) | 1,976 |
Deferred revenue | (12,872) | (5,252) |
Accrued interest | 103,909 | |
Net cash flows (used in) from continuing operations | (693,176) | (1,269,774) |
Net cash flows (used in) from discontinued operations | 18,425 | (66,595) |
Net cash flows (used in) operating activities | (674,751) | (1,336,369) |
Cash flows from (used in) investing activities: | ||
Proceeds from sale of real estate | 519,000 | 1,774,317 |
Purchases of investments | (23,991) | (53,942) |
Improvements to real estate held for investment | (10,969) | (105,186) |
Proceeds from maturity of investments | 681,381 | |
Proceeds from sale of subsidiary | 100,000 | |
Proceeds from sale of investments | 35,515 | |
Issuance of line of credit | (10,000) | |
Net cash flows from continuing operations | 484,040 | 2,422,085 |
Net cash flows from discontinued operations | ||
Net cash flows from investing activities | 484,040 | 2,422,085 |
Cash flows from financing activities: | ||
Principal payments on note payable | (260,931) | (1,121,987) |
Proceeds from notes payable | 125,839 | 300,000 |
Net cash flows (used in) from continuing operations | (135,092) | (821,987) |
Net cash flows (used in) from discontinued operations | (32,645) | |
Net cash flows (used in) financing activities | (135,092) | (854,632) |
Net increase (decrease) in cash | (325,803) | 231,084 |
Cash and cash equivalents at beginning of the period | 666,810 | 435,726 |
Cash and cash equivalents at end of the period | 341,007 | 666,810 |
Non-cash and other supplemental information: | ||
Transfer of real estate held for investment to held for resale | 177,826 | 193,835 |
Issuance of common stock per equity compensation plan | 130,049 | |
Transfer of real estate held for resale to held for investment | 43,992 | 0 |
Continuing operations cash paid for interest | 22,914 | 312,745 |
Transfer of property, plant, and equipment held for use to held for resale | 822,829 | |
Transfer of land to held for investment | 145,000 | |
Repayment of loan via issuance of common stock | 100,000 | |
Effects of adoption of new lease guidance | 46,435 | |
Effects of adoption of new lease guidance on discontinued operations | 50,110 | |
Discontinued operations cash paid for interest | $ 7,754 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Organization, Consolidation, Basis of Presentation, Business Description and Accounting Policies [Text Block] | NOTE 1. Organization and Lines of Business Enterprise Diversified, Inc. (formerly White Dove Systems, Inc., Interfoods Consolidated, Inc., and then Sitestar Corporation) was incorporated in Nevada on December 17, 1992. June 1, 2018, During the year ended December 31, 2020, four one not one June 30, 2019, fifth December 31, 2020, Asset Management Operations The Company operates its asset management operations business through its wholly-owned subsidiaries, Willow Oak Asset Management, LLC (“Willow Oak”), Willow Oak Capital Management, LLC, Willow Oak Asset Management Affiliate Management Services, LLC (“Willow Oak AMS”) and Willow Oak Asset Management Fund Management Services, LLC (“Willow Oak FMS”). In 2016, January 1, 2017 December 31, 2020, In furtherance of establishing the asset management operations business, Willow Oak signed a fee share agreement in June 2017, not 50% On November 1, 2018, third November 1, 2020, 14 On October 1, 2019, 10% January 1, 2020. one 10% On September 29, 2020, 20% 20% Real Estate Operations As has been previously reported, in December 2017, December 2017 January June 2018, two June 27, 2019, 65% third $100,000 no June 27, 2019. 4 As has been previously reported, in July 2017, December 31, 2020, four third Internet Operations The Company operates its internet operations segment through Sitestar.net, a wholly-owned subsidiary that offers consumer and business-grade internet access, wholesale managed modem services, web hosting, third Discontinued Operations - Home Services Operations Prior to May 24, 2019, June 2016, third As has been previously reported, on May 24, 2019, 3 Other Operations Other operations include nonrecurring or one not one not Former Investment Activity with Huckleberry Real Estate Fund In January 2017, $750,000. May 2018, During the quarter ended March 31, 2019, $212,631 December 31, 2019. December 31, 2020. Financing Arrangement Regarding Triad Guaranty, Inc. In August 2017, third third $100,000. April 2018, $55,000 May 2018. 10% 2.5% November 12, 2019, 450,000 December 30, 2019, 450,000 December 31, 2020, December 31, 2022, 12% Corporate Operations Corporate operations include any revenue or expenses derived from corporate office operations, as well as expenses related to public company reporting, the oversight of subsidiaries, and other items that affect the overall Company. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company, its wholly-owned subsidiaries, and those entities in which it otherwise has a controlling financial interest, including: Willow Oak Asset Management, LLC, Willow Oak Capital Management, LLC, Mt Melrose, LLC (“New Mt Melrose”) prior to cessation of control resulting from the sale of 65% June 27, 2019 ( 4 May 24, 2019 ( 3 All intercompany accounts and transactions have been eliminated in consolidation. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. Use of Estimates In accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”), the preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates and judgments, including, among other items, those related to fair value of investments, revenue recognition, accrued expenses, financing operations, fair value of goodwill, fixed asset lives and impairment, lease right-of-use assets and impairment, deferred tax assets, liabilities and valuation allowance, other assets, the present value of lease liabilities, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not may Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash, cash equivalents, accounts receivable, and notes receivable. The Company places its cash with high-quality financial institutions and, at times, may Cash and Cash Equivalents For purposes of the statements of cash flows, the Company defines cash equivalents as all highly liquid instruments purchased with a maturity of three Investments The Company holds various investments through its asset management operations and real estate operations segments. Additionally, investments may not not 5 As of December 31, 2020 2019, not Accounts Receivable The Company's asset management operations segment records receivable amounts for fee shares and fund management services revenue earned on a monthly basis. Performance fee shares crystalize and are collected on an annual basis while management fee shares crystalize and are collected on either a monthly or quarterly basis as dictated by the respective partnership agreement. Fund management services receivables are collected monthly in line with ongoing performance. The Company historically has had no not The Company also grants credit in the form of unsecured accounts receivable to its customers. The estimate of the allowance for doubtful accounts, which is the recorded allowance for doubtful accounts and bad debt expense, is based on management's assessment of current economic conditions and historical collection experience with each customer. Specific customer receivables are considered past due when they are outstanding beyond their contractual terms and are written off from the allowance for doubtful accounts when an account or invoice is individually determined to be uncollectible. Real estate operations segment rental accounts are typically paid by tenants via cash or check no fifth fifth not 90 The internet operations segment attempts to reduce the risk of non-collection by including a late-payment fee and a manual-processing-payment fee to customer accounts. Receivables more than 90 no 30 As of December 31, 2020 2019, $421 $307, December 31, 2020 2019, $210 $88,511, Notes Receivable The Company does not may Property and Equipment Property and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to operations as incurred, while renewals and betterments are capitalized. Gains and losses on disposals are included in the results of operations. Depreciation is computed using the straight-line method based on the estimated useful lives for each of the following asset classifications: Furniture and fixtures (in years) 5 Equipment (in years) 7 Building improvements (in years) 15 Buildings (in years) 27.5 The Company evaluates at each balance sheet date whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, then the Company uses estimated future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not Goodwill and Other Intangible Assets Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method of accounting. The Company tests its goodwill annually as of December 31st not Impairment testing of goodwill is required at the reporting-unit level (operating segment or one may No December 31, 2020. During the year ended December 31, 2019, $1,024,591 Intangible assets (other than goodwill) consist of domain names attributed to the internet operations segment. The Company owns 228 106 not No December 31, 2020 2019. Real Estate Real estate properties held for resale are carried at the lower of cost or fair value. All costs directly related to the improvement and carrying of real estate are capitalized, including renovations and property taxes, to the extent the capitalized costs of the property do not may not No December 31, 2020. During the year ended December 31, 2019, $26,170 During the year ended December 31, 2019, $126,827 Real estate properties held for investment are carried at the cost basis plus additional costs where the cost extended the life of or added value to the property. Otherwise, the cost is expensed as incurred. Properties categorized as real estate held for investment are not 12 During the years ended December 31, 2020 2019, $43,992 $0, $177,826 $193,835, $10,969 $105,186, December 31, 2020 2019. December 31, 2020 2019, no Accrued Compensation Accrued compensation represents performance-based incentives that have not 2020 Other Accrued Expenses Other accrued expenses represent incurred but not Leases On January 1, 2019, No. 2016 02, 842 No. 2016 02 840 842. No. 2016 02 No. 2016 02 December 15, 2018, ● the Company did not ● the Company did not ● the Company did not Additionally, the Company made ongoing accounting policy elections whereby it (i) does not 12 Revenue Recognition Asset Management Operations and Other Investment Revenue The Company earns revenue from services and investments and through various fee share and consulting agreements, including realized and unrealized gains and losses, which may Management notes that the structure of these arrangements leaves a very low possibility for nonperformance. While the amount of revenue varies from month to month, collectability is very high. No Additionally, the Company earns revenue from direct participation in various private investment funds, primarily the Alluvial Fund. This results in the realized and unrealized gains and losses within a fund such as the Alluvial Fund being recognized as revenue, or a decrease in revenue, on the accompanying consolidated statements of operations. A summary of revenue earned through asset management operations for the years ended December 31, 2020 2019 Asset Management Operations Revenue Year Ended December 31, 2020 Year Ended December 31, 2019 Unrealized gains on investment activity $ 3,424,267 $ 1,607,644 Management and performance fee revenue 176,598 65,171 Fund management services revenue 89,608 100,461 Total revenue $ 3,690,473 $ 1,773,276 Real Estate Revenue The Company earns real estate revenue through rental agreements on real estate held for investment, as well as through the sale of real estate held for resale. Rental revenue from real estate held for investment is recognized when it is earned, generally on the last day of each month or at another regular period agreed upon by the Company and the tenant. Tenants generally provide a security deposit at the time of possession. This deposit is held separately from revenue and only applied to revenue when rental payment comparable to the security deposit amount is not No Revenue from real estate held for resale is recognized upon closing of the sale (transfer of control), as all conditions for full revenue recognition have been met at that time. All costs associated with the property sold are removed from the consolidated balance sheets and charged to cost of revenue at that time. Internet Revenue The Company sells internet services under annual and monthly contracts. Under the annual contracts, the subscriber pays a one No The Company generates revenue in its internet operations segment from consumer and business-grade internet access, wholesale managed modem services for downstream ISPs, web hosting, third may Discontinued Revenue - Home Services Revenue Prior to the divestiture transaction on May 24, 2019, two two one If payment was received prior to contract completion, then the amount of revenue attributable to the unperformed work was designated as deferred revenue. If payment was not Management has acknowledged that these performance obligations were recognized at designated points in time during the contract, including the completion of the contract. As the customer controlled the asset and had the right to use it during the contract, the Company had the right to payment for performance completed to date. Contract liabilities (deferred revenue) were recognized in the amount of collections received in advance of services to be performed. No Deferred Revenue Deferred revenue represents collections from customers in advance of internet or home services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue from continuing operations decreased from $204,960 December 31, 2019 $192,088 December 31, 2020. December 31, 2020 2019, $204,635 $206,520, Income Taxes Income taxes are accounted for under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax benefits or consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not three December 31, 2020, December 31, 2019, December 31, 2018, Income (Loss) Per Share Basic income (loss) per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. In periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all potentially dilutive common shares is anti-dilutive. In periods of net income, diluted earnings per share is computed using the more dilutive of the “two class method” or the “treasury method.” Dilutive earnings per share under the “two class method” is calculated by dividing net income available to common stockholders as adjusted for the participating securities, by the weighted-average number of shares outstanding plus the dilutive impact of all other potentially dilutive common shares, consisting primarily of common shares underlying common stock equity incentives. Dilutive earnings per share under the “treasury method” are calculated by dividing net income available to common stockholders by the weighted-average number of shares outstanding plus the dilutive impact of all potentially dilutive common shares, consisting primarily of common shares underlying common stock equity incentives. None December 31, 2020 2019 The number of anti-dilutive shares for the year ended December 31, 2019, 668 Other Comprehensive Income Other comprehensive income is the result of the impact of foreign currency translations related to the Company's internet segment operations in Canada. Recently Issued Accounting Pronouncements In August 2018, No. 2018 13, 820 December 15, 2019. January 1, 2020. not In June 2016, No. 2016 13, 326 April 2019, May 2019, November 2019, December 15, 2022, December 15, 2018, may January 1, 2023. not The Company does not not |
Note 3 - Home Services Divestit
Note 3 - Home Services Divestiture | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 3. On May 24, 2019, third No sixty 60 7.5% first 5% two As reported in prior periods, the home services subsidiary had failed to meet approved budgets and had underperformed since its inception in 2016. not not not The decision was made to exit the business during the quarter ended June 30, 2019. not 50% not December 31, 2020 2019, $20,484 $21,629, $165,186 1,510,475 A breakdown of discontinued assets and liabilities as reported on the face of the accompanying consolidated financial statements for the years ended December 31, 2020 2019, December 31, 2020 December 31, 2019 Cash and cash equivalents $ 231 $ 428 Accounts receivable — — Other current assets — — Total current assets - held for resale 231 428 Accounts payable — 96,848 Accrued expenses — — Lease liabilities — 50,110 Other current liabilities — — Notes payable, current — — Total current liabilities - held for resale $ — $ 146,958 A breakdown of the initial recorded pre-tax loss as reported on the accompanying consolidated statements of operations as of the year ended December 31, 2019 May 24, 2019. Sale of vehicles, equipment, and furniture, net of depreciation $ 230,578 Impairment of remaining goodwill 1,024,591 Total carrying value of assets sold 1,255,169 Vehicle and equipment notes payable assumed by the buyer 76,791 Service agreements assumed by the buyer 19,646 Total carrying value of liabilities assumed 96,437 Net loss on sale of subsidiary, pre-tax $ 1,158,732 As has been previously reported, on October 22, 2019, §18 804 not no no no not November 15, 2019, $147,113, December 31, 2020. A reconciliation of discontinued operations as reported on the accompanying consolidated statements of operations for the years ended December 31, 2020 2019, For the year ended December 31, 2020 December 31, 2019 Revenues $ — $ 675,963 Cost of revenues — 432,872 Gross profit — 243,091 Selling, general, and administrative expenses 2,411 535,650 Loss on sale of subsidiary, net of recoveries 20,484 (1,125,364 ) Debt extinguishment (147,113 ) — Other income (expense), net — (92,552 ) Net income (loss) reported as discontinued operations $ 165,186 $ (1,510,475 ) |
Note 4 - Sale of Controlling In
Note 4 - Sale of Controlling Interest in Real Estate Subsidiary | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Controlling Stock Sale of Real Estate Subsidiary [Text Block] | NOTE 4. Transaction As has been previously reported, on June 27, 2019, 65% third $100,000 35% 20.8%. 35% Prior to this transaction, the Company had grown uncomfortable with the extreme amounts of high-priced debt that the Mt Melrose subsidiary had taken on. There were significant principal payments due over the next 12 not November 2018 third not June 27, 2019, In connection with this transaction, the Company and Woodmont entered into a certain Amended and Restated Limited Liability Company Agreement of Mt Melrose, LLC (the “A&R LLC Agreement”). The A&R LLC Agreement sets forth the general terms and conditions governing the arrangements between the two one three not Under the terms of the A&R LLC Agreement, distributions of cash, from whatever source, may $2,000,000 pro rata $2,000,000 $3,000,000 67% 33% $3,000,000 pro rata While the operations of Mt Melrose, LLC are considered a component of the Company's business, the sale did not June 27, 2019, no Deconsolidation Due to Transfer of Control Prior to the sale of 65% 100% By virtue of the A&R LLC Agreement, and the aforementioned standstill agreement, Woodmont is the sole “manager” responsible for all management and operating decisions of Mt Melrose. Management determined that as of June 27, 2019, no no not not June 27, 2019, Accounting for Remaining Mt Melrose Investment The Company adopted ASU 2016 01 January 1, 2018. 2016 01 not not Using the $100,000 65% 35% $53,846 December 31, 2020 2019. Effective on June 27, 2019, $4,157,809, December 31, 2019. |
Note 5 - Investments
Note 5 - Investments | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Investment Holdings [Text Block] | NOTE 5. Certain assets held through the Company, Willow Oak Asset Management, LLC, or EDI Real Estate, LLC do not not 6 4 not Cost Basis Unrealized Gain Fair Value December 31, 2020 Alluvial Fund, LP $ 7,064,758 $ 6,455,858 $ 13,520,616 Mt Melrose, LLC 53,846 — 53,846 Total $ 7,118,604 $ 6,455,858 $ 13,574,462 Cost Basis Unrealized Gain Fair Value December 31, 2019 Alluvial Fund, LP $ 7,042,732 $ 3,029,626 $ 10,072,358 Mt Melrose, LLC 53,846 — 53,846 Total $ 7,096,578 $ 3,029,626 $ 10,126,204 Alluvial Fund is a private investment fund that focuses on investing in what it believes are deeply mispriced securities in the United States and abroad. Alluvial Fund focuses on small companies, thinly traded issues, and special situations, seeking to identify value that its management believes the market has yet to recognize. During the years ended December 31, 2020 2019, not December 31, 2020 2019, $22,027 $19,056, During the year ended December 31, 2019, $76,810 of realized gains through the other operations segment, primarily related to the Company s sale of its Triad Guaranty, Inc. stock. |
Note 6 - Fair Value of Assets a
Note 6 - Fair Value of Assets and Liabilities | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 6. GAAP defines fair value as the amount that would be received from the sale of an asset or paid for the transfer of a liability in an orderly transaction between market participants at the measurement date, and establishes a hierarchy for disclosing assets and liabilities measured at fair value based on the inputs used to value them. The fair value hierarchy maximizes the use of observable inputs and minimizes the use of unobservable inputs. Observable inputs are based on market pricing data obtained from sources independent of the Company. Unobservable inputs reflect management's judgment about the assumptions market participants would use in pricing the asset or liability. The fair value hierarchy includes three ● Level 1 ● Level 2 1 2 ● Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company values its investments at fair value at the end of each reporting period. See description of these investments in Note 5 (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value December 31, 2020 Alluvial Fund, LP $ — $ — $ — $ 13,520,616 $ 13,520,616 Total investments $ — $ — $ — $ 13,520,616 $ 13,520,616 (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value December 31, 2019 Alluvial Fund, LP $ — $ — $ — $ 10,072,358 $ 10,072,358 Total investments $ — $ — $ — $ 10,072,358 $ 10,072,358 (a) Certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient have not Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company analyzes goodwill on an annual basis or more often if events or changes in circumstances indicate potential impairments. No December 31, 2020. December 31, 2019, $1,024,591 The Company values real estate held on the balance sheet on an annual basis or whenever events or changes in circumstances indicate an impairment may No December 31, 2020. December 31, 2019, $126,827 December 31, 2019, $26,170 As discussed in Note 4, |
Note 7 - Property and Equipment
Note 7 - Property and Equipment | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 7. The cost of property and equipment at December 31, 2020, December 31, 2019, 2020 2019 Computers and equipment $ 17,330 $ 17,330 Furniture and fixtures 10,850 10,850 28,180 28,180 Less accumulated depreciation (14,473 ) (10,427 ) Property and equipment, net $ 13,707 $ 17,753 Depreciation expense from continuing operations was $4,046 December 31, 2020, d $27,284 December 31, 2019. $0 $9,310 December 31, 2020 2019, As of December 31, 2020, not December 31, 2019, two $98,910 December 31, 2019. On December 24, 2019, $850,000. $487,944 $56,467, December 31, 2019. |
Note 8 - Real Estate
Note 8 - Real Estate | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | NOTE 8. EDI Real Estate, LLC Through EDI Real Estate, as of December 31, 2020 2019, EDI Real Estate December 31, 2020 December 31, 2019 Units occupied or available for rent 4 6 Vacant lots held for investment 3 — Total units held for investment 7 6 Units held for resale — 2 Vacant lots held for resale — 3 Total units held for resale — 5 Units held for investment consist of single-family residential rental units. The leases in effect, as of December 31, 2020, EDI Real Estate December 31, 2020 December 31, 2019 Total real estate held for investment $ 303,158 $ 484,590 Accumulated depreciation (61,282 ) (104,075 ) Real estate held for investment, net 241,876 380,515 Real estate held for resale, net $ — $ 98,910 For the year ended December 31, 2020, $15,774. December 31, 2019, $22,161. During the year ended December 31, 2020, four $519,000. $229,209. $232,744, $286,256 December 31, 2019, one $95,000. $84,869. $95,000, no No December 31, 2020 2019 No December 31, 2020. December 31, 2019, $26,170 Future Minimum Rental Revenues - EDI Real Estate, LLC The future anticipated minimum rental revenues based on leases in place as of December 31, 2020, 2020 $ 18,079 2021 — 2022 — Total $ 18,079 Mt Melrose, LLC As described in Note 4, no No December 31, 2020. June 27, 2019, no December 31, 2020 2019 For the year ended December 31, 2019, $110,978. During the year ended December 31, 2019, nineteen five $775,850. $151,672. $755,918, $16,932. No December 31, 2019. During the year ended December 31, 2019, $126,827 |
Note 9 - Notes Payable
Note 9 - Notes Payable | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 9. Notes payable at December 31, 2020 2019, Interest Rates Average Term 2020 2019 Interest-bearing amount due on promissory note through EDI Real Estate, LLC 5.60% 15 years $ 154,094 $ 373,425 Interest-bearing amount due on real estate held for investment through EDI Real Estate, LLC 6.00% 5 years 96,000 137,600 Less current portion (5,609 ) (11,453 ) Long-term portion $ 244,485 $ 499,572 The timing of future payments of notes payable are as follows as of December 31, 2020: 2021 $ 5,609 2022 101,507 2023 5,828 2024 6,145 2025 and thereafter 131,005 Total $ 250,094 During the quarterly period ended June 30, 2020, $125,102 2020 two eight twenty-four The Company applied for and was granted loan forgiveness by the Small Business Administration for the full value of its PPP loan in December 2020. December 31, 2020. During the quarterly period ended September 30, 2018, 5.6% September 1, 2033 five 2.750 five December 31, 2020, three $203,271 During the quarterly period ended September 30, 2017, two 6%, September 15, 2022, December 31, 2020, one $41,600 During the quarter ended March 31, 2019, 8%, December 2019, |
Note 10 - Segment Information
Note 10 - Segment Information | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 10. During the year ended December 31, 2020, four four June 30, 2019, fifth December 31, 2020, As mentioned in Note 3, May 24, 2019, third December 31, 2020. As mentioned in Note 4, June 27, 2019, 65% third Management determined that as of June 27, 2019, no no June 27, 2019, The asset management operations segment includes revenues and expenses derived from various joint ventures, service offerings, and initiatives undertaken in the asset management industry. The real estate operations segment includes (i) our equity in Mt Melrose, LLC, which manages properties held for investment and held for resale located in Lexington, Kentucky, and (ii) revenue and expenses related to the management of legacy properties held for investment and held for resale through EDI Real Estate located in Roanoke, Virginia. The internet operations segment includes revenue and expenses related to our sale of internet access, hosting, storage, and other ancillary services. The other operations segment includes revenue and expenses from nonrecurring or one The internet segment includes revenue generated by operations in both the United States and Canada. In the year ended December 31, 2020, $929,383 $49,563 December 31, 2019, $1,011,407 $54,822 December 31, 2020 2019, Summarized financial information concerning the Company's reportable segments is shown in the following tables for the years ended December 31, 2020 2019. Year Ended December 31, 2020 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 3,690,473 $ 578,313 $ 978,946 $ — $ — $ 5,247,732 Cost of revenue — 326,636 321,582 — — 648,218 Operating expenses 425,704 31,937 193,791 966,862 — 1,618,294 Other income (expense) 2,283 (17,064 ) 4,251 143,528 — 132,998 Income (loss) from continuing operations 3,267,052 202,676 467,824 (823,334 ) — 3,114,218 Income (loss) from discontinued operations — — — — 165,186 165,186 Goodwill — — 212,445 — — 212,445 Identifiable assets $ 13,721,139 $ 321,265 $ 476,101 $ 338,444 $ 231 $ 14,857,180 Year Ended December 31, 2019 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 1,773,276 $ 537,763 $ 1,066,229 $ 212,631 $ — $ 3,589,899 Cost of revenue — 485,459 330,654 — — 816,113 Operating expenses 410,226 338,025 223,118 1,101,098 — 2,072,467 Other income (expense) 36,565 (4,712,766 ) 10,169 96,551 — (4,569,481 ) Income (loss) from continuing operations 1,399,615 (4,998,487 ) 522,626 (791,916 ) — (3,868,162 ) Income (loss) from discontinued operations — — — — (1,510,475 ) (1,510,475 ) Goodwill — — 212,445 — — 212,445 Identifiable assets $ 10,186,353 $ 556,994 $ 414,935 $ 740,934 $ 428 $ 11,899,644 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 11. Leases As of December 31, 2020, no no December 31, 2019, three no As of December 31, 2019, three not The lease for office space for Willow Oak Asset Management, LLC expired on September 30, 2020, October 1, 2020. 12 February 2020. not December 31, 2020 $18,684. With respect to the former leased facilities for Specialty Contracting Group, LLC, possession of the premises was surrendered to the landlord, in connection with the dissolution and winding up of Specialty Contracting Group, in default of that lease. As of December 31, 2020, December 31, 2020. Lease costs for the years ended December 31, 2020 2019 2020 2019 Finance lease costs: Amortization of ROU assets $ — $ — Interest on lease liabilities — — Operating lease costs 46,058 64,092 Sublease income (2,283 ) (28,405 ) Total lease costs from continuing operations 43,775 35,687 Total lease costs from discontinued operations — 64,901 Total lease costs $ 43,775 $ 100,588 As the Company has no December 31, 2020, no Other Commitments As mentioned in Note 4, June 27, 2019, 65% third $100,000 Litigation & Legal Proceedings Enterprise Diversified, Inc. (f/k/a Sitestar Corporation) v. Frank Erhartic, Jr. On April 12, 2016, December 14, 2015) 5% five $350,000. Other: Mt Melrose-related Proceedings As has been previously reported, various disputes have arisen and are continuing between the Company and Woodmont Lexington, LLC (“ Woodmont June 27, 2019, 65% Mt Melrose Shortly following the closing of the Mt Melrose transaction, the relationship between the Company and Woodmont unfortunately soured. Woodmont unexpectedly proceeded to make numerous claims and demands upon the Company (including four not Also, Woodmont, acting as the sole manager of Mt Melrose, purported to unilaterally amend and restate as of August 29, 2019 35% 20.8% 65% 79.2%. January 7, 2020, $600,000 In connection with the primary disputes between the Company and Woodmont, following the Company's initiation of the Delaware Action discussed below, on December 5, 2019, third see Woodmont Lexington, LLC, et al. v. Enterprise Diversified, et al. No. 19 04304 Kentucky Action February 1, 2020. $850,000 six December 27, 2019, without prejudice August 3, 2020, may The Company believes that Woodmont, directly and by its representative, Tice Brown, has engaged in intentionally injurious and harassing conduct concerning Mt Melrose that runs counter to the long-term best interests of the Company and its shareholders. Accordingly, as previously reported in the Company's Current Report on Form 8 November 20, 2019, November 20, 2019, see Civil Action No. 2019 0928 Delaware Action March 9, 2020, April 6, 2020, July 24, 2020, March 2021. February 3, 2021, |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 12. Classes of Shares As of December 31, 2020, 32,800,000 30,000,000 $0.001 2,800,000 $0.125 Preferred Stock Preferred stock, any series, shall have the powers, preferences, rights, qualifications, limitations, and restrictions as from time to time fixed by the Company's Board of Directors in its sole discretion. As of December 31, 2020, not As previously reported in the Company's Current Report on Form 8 July 29, 2020, July 24, 2020, July 24, 2020, 250,000 Common Stock As of December 31, 2020, 2,602,240 Cancellation of Treasury Shares On December 30, 2019, 80,506 |
Note 13 - Income Taxes
Note 13 - Income Taxes | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Income Tax Disclosure [Text Block] | NOTE 13. The provision for federal and state income taxes for the years ended December 31, 2020 2019 2020 2019 Current benefit (provision): Federal $ — $ — State — — Deferred benefit: Federal 504,902 1,097,146 State 102,121 95,202 Valuation allowance (607,023 ) (1,192,348 ) Total income tax provision $ — $ — Deferred tax assets and liabilities reflect the net effect of temporary differences between the carrying amount of assets and liabilities used for income tax purposes. Significant components of the Company's deferred tax assets and liabilities at December 31, 2020 2019 2020 2019 Deferred tax assets: Carrying value differences $ 81,247 $ 232,030 Net operating loss carryforward 3,403,318 2,927,848 Tax credits 15,070 6,250 Other — — Subtotal 3,499,635 3,166,128 Valuation allowance (2,133,861 ) (2,732,064 ) Net deferred tax assets 1,365,774 434,064 Deferred tax liabilities: Net unrealized gains on appreciated investments (1,365,774 ) (434,064 ) Net deferreds $ — $ — GAAP provides for the recognition of deferred tax assets if realization of such assets is more likely than not. three 2020, not As of December 31, 2020, $13.4 $13.4 2032. 382 August 2016. The Company is required to recognize in the financial statements the impact of a tax position, if that position is not not s $0 December 31, 2020. not 12 No The Company operates in various tax jurisdictions and is subject to audit by various tax authorities. To the extent of the Company's tax loss carryovers, the Company's federal and state tax returns will be subject to examination by the tax authorities from the earliest years in which such tax attributes arise. While the amount of those tax loss carryovers continues to be subject to adjustment, any assessment of additional tax for those prior years is generally barred, except for the three four |
Note 14 - Related Party Transac
Note 14 - Related Party Transactions | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Related Party Transactions Disclosure [Text Block] | NOTE 14. Former CEO, Erhartic As of the year ended December 31, 2015, January 1, 2014, December 31, 2015, 11. January 15, 2016. The Company also leased a storage facility in Salem, Virginia, from the Former CEO, Erhartic. The Company is attempting to recover the payments made to the Former CEO related to this facility. The lease was not not 11. The Former CEO, Erhartic, created several land trusts and designated the Company as the trustee. The Former CEO and, the Company believes, the Former CFO placed personally owned properties within these land trusts. This activity was not 11. Bonhoeffer Fund, LP The Company's subsidiary, Willow Oak Asset Management, LLC, signed a fee share agreement on June 13, 2017, not 50% December 31, 2020 2019, $36,217 $38,599, Willow Oak Asset Management, LLC On October 1, 2017, April 3, 2018 May 5, 2019, December 31, 2020 2019, $2,283 $28,405, October 31, 2018, December 31, 2019, two December 31, 2020 On November 1, 2018, third November 1, 2020, December 31, 2020 2019, $89,930 $100,461, |
Note 15 - Subsequent Events
Note 15 - Subsequent Events | 12 Months Ended |
Dec. 31, 2020 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 15. Management has evaluated all subsequent events from December 31, 2020, March 29, 2021, no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Dec. 31, 2020 | |
Accounting Policies [Abstract] | |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In accordance with Generally Accepted Accounting Principles in the United States of America (“GAAP”), the preparation of these financial statements requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities at the date of the financial statements and the reported amount of revenues and expenses during the reporting period. On an ongoing basis, management evaluates its estimates and judgments, including, among other items, those related to fair value of investments, revenue recognition, accrued expenses, financing operations, fair value of goodwill, fixed asset lives and impairment, lease right-of-use assets and impairment, deferred tax assets, liabilities and valuation allowance, other assets, the present value of lease liabilities, and contingencies and litigation. Management bases its estimates and judgments on historical experience and on various other factors that are believed to be reasonable under the circumstances, the results of which form the basis for making judgments about the carrying value of assets and liabilities that are not may |
Concentration Risk, Credit Risk, Policy [Policy Text Block] | Concentration of Credit Risk Financial instruments, which potentially subject the Company to concentrations of credit risk, consist of cash, cash equivalents, accounts receivable, and notes receivable. The Company places its cash with high-quality financial institutions and, at times, may |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash and Cash Equivalents For purposes of the statements of cash flows, the Company defines cash equivalents as all highly liquid instruments purchased with a maturity of three |
Investment, Policy [Policy Text Block] | Investments The Company holds various investments through its asset management operations and real estate operations segments. Additionally, investments may not not 5 As of December 31, 2020 2019, not |
Accounts Receivable [Policy Text Block] | Accounts Receivable The Company's asset management operations segment records receivable amounts for fee shares and fund management services revenue earned on a monthly basis. Performance fee shares crystalize and are collected on an annual basis while management fee shares crystalize and are collected on either a monthly or quarterly basis as dictated by the respective partnership agreement. Fund management services receivables are collected monthly in line with ongoing performance. The Company historically has had no not The Company also grants credit in the form of unsecured accounts receivable to its customers. The estimate of the allowance for doubtful accounts, which is the recorded allowance for doubtful accounts and bad debt expense, is based on management's assessment of current economic conditions and historical collection experience with each customer. Specific customer receivables are considered past due when they are outstanding beyond their contractual terms and are written off from the allowance for doubtful accounts when an account or invoice is individually determined to be uncollectible. Real estate operations segment rental accounts are typically paid by tenants via cash or check no fifth fifth not 90 The internet operations segment attempts to reduce the risk of non-collection by including a late-payment fee and a manual-processing-payment fee to customer accounts. Receivables more than 90 no 30 As of December 31, 2020 2019, $421 $307, December 31, 2020 2019, $210 $88,511, |
Notes Receivable, Policy [Policy Text Block] | Notes Receivable The Company does not may |
Property, Plant and Equipment, Policy [Policy Text Block] | Property and Equipment Property and equipment are recorded at cost. Expenditures for maintenance and repairs are charged to operations as incurred, while renewals and betterments are capitalized. Gains and losses on disposals are included in the results of operations. Depreciation is computed using the straight-line method based on the estimated useful lives for each of the following asset classifications: Furniture and fixtures (in years) 5 Equipment (in years) 7 Building improvements (in years) 15 Buildings (in years) 27.5 The Company evaluates at each balance sheet date whether events and circumstances have occurred that indicate possible impairment. If there are indications of impairment, then the Company uses estimated future undiscounted cash flows of the related asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not |
Goodwill and Intangible Assets, Goodwill, Policy [Policy Text Block] | Goodwill and Other Intangible Assets Goodwill is the excess of the purchase price over the fair value of identifiable net assets acquired in business combinations accounted for under the acquisition method of accounting. The Company tests its goodwill annually as of December 31st not Impairment testing of goodwill is required at the reporting-unit level (operating segment or one may No December 31, 2020. During the year ended December 31, 2019, $1,024,591 Intangible assets (other than goodwill) consist of domain names attributed to the internet operations segment. The Company owns 228 106 not No December 31, 2020 2019. |
Real Estate, Policy [Policy Text Block] | Real Estate Real estate properties held for resale are carried at the lower of cost or fair value. All costs directly related to the improvement and carrying of real estate are capitalized, including renovations and property taxes, to the extent the capitalized costs of the property do not may not No December 31, 2020. During the year ended December 31, 2019, $26,170 During the year ended December 31, 2019, $126,827 Real estate properties held for investment are carried at the cost basis plus additional costs where the cost extended the life of or added value to the property. Otherwise, the cost is expensed as incurred. Properties categorized as real estate held for investment are not 12 During the years ended December 31, 2020 2019, $43,992 $0, $177,826 $193,835, $10,969 $105,186, December 31, 2020 2019. December 31, 2020 2019, no |
Accrued Expenses [Policy Text Block] | Accrued Compensation Accrued compensation represents performance-based incentives that have not 2020 |
Other Accrued Expenses [Policy Text Block] | Other Accrued Expenses Other accrued expenses represent incurred but not |
Lessee, Leases [Policy Text Block] | Leases On January 1, 2019, No. 2016 02, 842 No. 2016 02 840 842. No. 2016 02 No. 2016 02 December 15, 2018, ● the Company did not ● the Company did not ● the Company did not Additionally, the Company made ongoing accounting policy elections whereby it (i) does not 12 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Asset Management Operations and Other Investment Revenue The Company earns revenue from services and investments and through various fee share and consulting agreements, including realized and unrealized gains and losses, which may Management notes that the structure of these arrangements leaves a very low possibility for nonperformance. While the amount of revenue varies from month to month, collectability is very high. No Additionally, the Company earns revenue from direct participation in various private investment funds, primarily the Alluvial Fund. This results in the realized and unrealized gains and losses within a fund such as the Alluvial Fund being recognized as revenue, or a decrease in revenue, on the accompanying consolidated statements of operations. A summary of revenue earned through asset management operations for the years ended December 31, 2020 2019 Asset Management Operations Revenue Year Ended December 31, 2020 Year Ended December 31, 2019 Unrealized gains on investment activity $ 3,424,267 $ 1,607,644 Management and performance fee revenue 176,598 65,171 Fund management services revenue 89,608 100,461 Total revenue $ 3,690,473 $ 1,773,276 Real Estate Revenue The Company earns real estate revenue through rental agreements on real estate held for investment, as well as through the sale of real estate held for resale. Rental revenue from real estate held for investment is recognized when it is earned, generally on the last day of each month or at another regular period agreed upon by the Company and the tenant. Tenants generally provide a security deposit at the time of possession. This deposit is held separately from revenue and only applied to revenue when rental payment comparable to the security deposit amount is not No Revenue from real estate held for resale is recognized upon closing of the sale (transfer of control), as all conditions for full revenue recognition have been met at that time. All costs associated with the property sold are removed from the consolidated balance sheets and charged to cost of revenue at that time. Internet Revenue The Company sells internet services under annual and monthly contracts. Under the annual contracts, the subscriber pays a one No The Company generates revenue in its internet operations segment from consumer and business-grade internet access, wholesale managed modem services for downstream ISPs, web hosting, third may Discontinued Revenue - Home Services Revenue Prior to the divestiture transaction on May 24, 2019, two two one If payment was received prior to contract completion, then the amount of revenue attributable to the unperformed work was designated as deferred revenue. If payment was not Management has acknowledged that these performance obligations were recognized at designated points in time during the contract, including the completion of the contract. As the customer controlled the asset and had the right to use it during the contract, the Company had the right to payment for performance completed to date. Contract liabilities (deferred revenue) were recognized in the amount of collections received in advance of services to be performed. No Deferred Revenue Deferred revenue represents collections from customers in advance of internet or home services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue from continuing operations decreased from $204,960 December 31, 2019 $192,088 December 31, 2020. December 31, 2020 2019, $204,635 $206,520, |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the asset and liability method, which requires the recognition of deferred tax assets and liabilities for the expected future tax benefits or consequences of events that have been included in the consolidated financial statements. Under this method, deferred tax assets and liabilities are determined on the basis of the differences between the financial statement and tax basis of assets and liabilities using enacted tax rates in effect for the year in which the differences are expected to reverse. Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not not three December 31, 2020, December 31, 2019, December 31, 2018, |
Earnings Per Share, Policy [Policy Text Block] | Income (Loss) Per Share Basic income (loss) per share is computed by dividing net loss available to common stockholders by the weighted average number of shares of common stock outstanding during the period. In periods of net loss, diluted loss per share is calculated similarly to basic loss per share because the impact of all potentially dilutive common shares is anti-dilutive. In periods of net income, diluted earnings per share is computed using the more dilutive of the “two class method” or the “treasury method.” Dilutive earnings per share under the “two class method” is calculated by dividing net income available to common stockholders as adjusted for the participating securities, by the weighted-average number of shares outstanding plus the dilutive impact of all other potentially dilutive common shares, consisting primarily of common shares underlying common stock equity incentives. Dilutive earnings per share under the “treasury method” are calculated by dividing net income available to common stockholders by the weighted-average number of shares outstanding plus the dilutive impact of all potentially dilutive common shares, consisting primarily of common shares underlying common stock equity incentives. None December 31, 2020 2019 The number of anti-dilutive shares for the year ended December 31, 2019, 668 |
Comprehensive Income, Policy [Policy Text Block] | Other Comprehensive Income Other comprehensive income is the result of the impact of foreign currency translations related to the Company's internet segment operations in Canada. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In August 2018, No. 2018 13, 820 December 15, 2019. January 1, 2020. not In June 2016, No. 2016 13, 326 April 2019, May 2019, November 2019, December 15, 2022, December 15, 2018, may January 1, 2023. not The Company does not not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Property, Plant and Equipment, Useful Life [Table Text Block] | Furniture and fixtures (in years) 5 Equipment (in years) 7 Building improvements (in years) 15 Buildings (in years) 27.5 |
Disaggregation of Revenue [Table Text Block] | Asset Management Operations Revenue Year Ended December 31, 2020 Year Ended December 31, 2019 Unrealized gains on investment activity $ 3,424,267 $ 1,607,644 Management and performance fee revenue 176,598 65,171 Fund management services revenue 89,608 100,461 Total revenue $ 3,690,473 $ 1,773,276 |
Note 3 - Home Services Divest_2
Note 3 - Home Services Divestiture (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | December 31, 2020 December 31, 2019 Cash and cash equivalents $ 231 $ 428 Accounts receivable — — Other current assets — — Total current assets - held for resale 231 428 Accounts payable — 96,848 Accrued expenses — — Lease liabilities — 50,110 Other current liabilities — — Notes payable, current — — Total current liabilities - held for resale $ — $ 146,958 Sale of vehicles, equipment, and furniture, net of depreciation $ 230,578 Impairment of remaining goodwill 1,024,591 Total carrying value of assets sold 1,255,169 Vehicle and equipment notes payable assumed by the buyer 76,791 Service agreements assumed by the buyer 19,646 Total carrying value of liabilities assumed 96,437 Net loss on sale of subsidiary, pre-tax $ 1,158,732 For the year ended December 31, 2020 December 31, 2019 Revenues $ — $ 675,963 Cost of revenues — 432,872 Gross profit — 243,091 Selling, general, and administrative expenses 2,411 535,650 Loss on sale of subsidiary, net of recoveries 20,484 (1,125,364 ) Debt extinguishment (147,113 ) — Other income (expense), net — (92,552 ) Net income (loss) reported as discontinued operations $ 165,186 $ (1,510,475 ) |
Note 5 - Investments (Tables)
Note 5 - Investments (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Equity Securities without Readily Determinable Fair Value [Table Text Block] | Cost Basis Unrealized Gain Fair Value December 31, 2020 Alluvial Fund, LP $ 7,064,758 $ 6,455,858 $ 13,520,616 Mt Melrose, LLC 53,846 — 53,846 Total $ 7,118,604 $ 6,455,858 $ 13,574,462 Cost Basis Unrealized Gain Fair Value December 31, 2019 Alluvial Fund, LP $ 7,042,732 $ 3,029,626 $ 10,072,358 Mt Melrose, LLC 53,846 — 53,846 Total $ 7,096,578 $ 3,029,626 $ 10,126,204 |
Note 6 - Fair Value of Assets_2
Note 6 - Fair Value of Assets and Liabilities (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value December 31, 2020 Alluvial Fund, LP $ — $ — $ — $ 13,520,616 $ 13,520,616 Total investments $ — $ — $ — $ 13,520,616 $ 13,520,616 (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value December 31, 2019 Alluvial Fund, LP $ — $ — $ — $ 10,072,358 $ 10,072,358 Total investments $ — $ — $ — $ 10,072,358 $ 10,072,358 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2020 2019 Computers and equipment $ 17,330 $ 17,330 Furniture and fixtures 10,850 10,850 28,180 28,180 Less accumulated depreciation (14,473 ) (10,427 ) Property and equipment, net $ 13,707 $ 17,753 |
Note 8 - Real Estate (Tables)
Note 8 - Real Estate (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | EDI Real Estate December 31, 2020 December 31, 2019 Units occupied or available for rent 4 6 Vacant lots held for investment 3 — Total units held for investment 7 6 Units held for resale — 2 Vacant lots held for resale — 3 Total units held for resale — 5 |
Real Estate Properties, Disclosure [Table Text Block] | EDI Real Estate December 31, 2020 December 31, 2019 Total real estate held for investment $ 303,158 $ 484,590 Accumulated depreciation (61,282 ) (104,075 ) Real estate held for investment, net 241,876 380,515 Real estate held for resale, net $ — $ 98,910 |
Operating Leases, Future Minimum Payments Receivable [Table Text Block] | 2020 $ 18,079 2021 — 2022 — Total $ 18,079 |
Note 9 - Notes Payable (Tables)
Note 9 - Notes Payable (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Interest Rates Average Term 2020 2019 Interest-bearing amount due on promissory note through EDI Real Estate, LLC 5.60% 15 years $ 154,094 $ 373,425 Interest-bearing amount due on real estate held for investment through EDI Real Estate, LLC 6.00% 5 years 96,000 137,600 Less current portion (5,609 ) (11,453 ) Long-term portion $ 244,485 $ 499,572 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2021 $ 5,609 2022 101,507 2023 5,828 2024 6,145 2025 and thereafter 131,005 Total $ 250,094 |
Note 10 - Segment Information (
Note 10 - Segment Information (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Year Ended December 31, 2020 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 3,690,473 $ 578,313 $ 978,946 $ — $ — $ 5,247,732 Cost of revenue — 326,636 321,582 — — 648,218 Operating expenses 425,704 31,937 193,791 966,862 — 1,618,294 Other income (expense) 2,283 (17,064 ) 4,251 143,528 — 132,998 Income (loss) from continuing operations 3,267,052 202,676 467,824 (823,334 ) — 3,114,218 Income (loss) from discontinued operations — — — — 165,186 165,186 Goodwill — — 212,445 — — 212,445 Identifiable assets $ 13,721,139 $ 321,265 $ 476,101 $ 338,444 $ 231 $ 14,857,180 Year Ended December 31, 2019 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 1,773,276 $ 537,763 $ 1,066,229 $ 212,631 $ — $ 3,589,899 Cost of revenue — 485,459 330,654 — — 816,113 Operating expenses 410,226 338,025 223,118 1,101,098 — 2,072,467 Other income (expense) 36,565 (4,712,766 ) 10,169 96,551 — (4,569,481 ) Income (loss) from continuing operations 1,399,615 (4,998,487 ) 522,626 (791,916 ) — (3,868,162 ) Income (loss) from discontinued operations — — — — (1,510,475 ) (1,510,475 ) Goodwill — — 212,445 — — 212,445 Identifiable assets $ 10,186,353 $ 556,994 $ 414,935 $ 740,934 $ 428 $ 11,899,644 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Lease, Cost [Table Text Block] | 2020 2019 Finance lease costs: Amortization of ROU assets $ — $ — Interest on lease liabilities — — Operating lease costs 46,058 64,092 Sublease income (2,283 ) (28,405 ) Total lease costs from continuing operations 43,775 35,687 Total lease costs from discontinued operations — 64,901 Total lease costs $ 43,775 $ 100,588 |
Note 13 - Income Taxes (Tables)
Note 13 - Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2020 | |
Notes Tables | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2020 2019 Current benefit (provision): Federal $ — $ — State — — Deferred benefit: Federal 504,902 1,097,146 State 102,121 95,202 Valuation allowance (607,023 ) (1,192,348 ) Total income tax provision $ — $ — |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2020 2019 Deferred tax assets: Carrying value differences $ 81,247 $ 232,030 Net operating loss carryforward 3,403,318 2,927,848 Tax credits 15,070 6,250 Other — — Subtotal 3,499,635 3,166,128 Valuation allowance (2,133,861 ) (2,732,064 ) Net deferred tax assets 1,365,774 434,064 Deferred tax liabilities: Net unrealized gains on appreciated investments (1,365,774 ) (434,064 ) Net deferreds $ — $ — |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Details Textual) | Jun. 27, 2019USD ($) | May 18, 2018USD ($) | Jun. 13, 2017 | Jan. 30, 2017USD ($) | Mar. 31, 2019USD ($) | Jun. 30, 2018 | Dec. 31, 2020 | Sep. 29, 2020 | Dec. 30, 2019shares | Oct. 01, 2019 | Apr. 28, 2018shares | Aug. 24, 2017USD ($) |
Number of Reportable Segments | 4 | |||||||||||
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance | $ 0 | |||||||||||
Product and Service, Other [Member] | ||||||||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 212,631 | |||||||||||
Mt. Melrose LLC [Member] | Woodmont [Member] | ||||||||||||
Percentage of Membership Interest in Subsidiary Sold | 65.00% | |||||||||||
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | $ 100,000 | |||||||||||
Triad Guaranty, Inc. [Member] | ||||||||||||
Equity Method Investments | $ 55,000 | $ 100,000 | ||||||||||
Percentage of Annual Interest Rate on Promissory Note | 10.00% | 12.00% | ||||||||||
Percentage Rate of Issuance of Warrants | 2.50% | |||||||||||
Investment Warrants, Number of Securities Called By Warrants (in shares) | shares | 450,000 | |||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights (in shares) | shares | 450,000 | |||||||||||
Willow Oak Asset Management LLC [Member] | ||||||||||||
Percentage of Performance and Management Fees Earned | 50.00% | |||||||||||
Willow Oak Asset Management LLC [Member] | Alluvial Fund, LP [Member] | ||||||||||||
Percentage of Performance and Management Fees Earned | 50.00% | |||||||||||
Willow Oak Asset Management LLC [Member] | Focused Compounding Capital Management, LLC [Member] | ||||||||||||
Investment Ownership Percentage | 10.00% | |||||||||||
Percentage of Gross Management and Performance Fees Earned | 10.00% | |||||||||||
Willow Oak Asset Management LLC [Member] | SVN Capital, LLC [Member] | ||||||||||||
Investment Ownership Percentage | 20.00% | |||||||||||
Percentage of Gross Management and Performance Fees Earned | 20.00% | |||||||||||
Willow Oak Asset Management LLC [Member] | Huckleberry Real Estate Fund II, LLC [Member] | ||||||||||||
Contributed Capital, Amount | $ 750,000 | |||||||||||
Mt. Melrose LLC [Member] | Residential Properties [Member] | ||||||||||||
Real Estate Property Bundles Acquired | 2 |
Note 2 - Summary of Significa_3
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 12 Months Ended | |
Dec. 31, 2020USD ($)shares | Dec. 31, 2019USD ($)shares | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 421 | $ 307 |
Accounts Receivable, Credit Loss Expense (Reversal) | 210 | 88,511 |
Goodwill, Impairment Loss | $ 0 | |
Number of Domain Names Owned | 228 | |
Number of Domain Names Available for Sale | 106 | |
Transfer of Real Estate Held for Sale to Held for Investment | $ 43,992 | 0 |
Transfer of Real Estate Held for Investment to Held for Resale | 177,826 | 193,835 |
Contract with Customer, Liability, Current | 192,088 | 204,960 |
Contract with Customer, Liability, Revenue Recognized | $ 204,635 | $ 206,520 |
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount (in shares) | shares | 668 | 668 |
EDI Real Estate, LLC [Member] | ||
Impairment of Real Estate | $ 0 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Improvements, Total | 10,969 | $ 105,186 |
Real Estate, Held For Sale [Member] | ||
Impairment of Real Estate | 0 | |
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation, Cost Capitalized Subsequent to Acquisition, Improvements, Total | $ 0 | 0 |
Real Estate, Held For Sale [Member] | EDI Real Estate, LLC [Member] | ||
Impairment of Real Estate | 26,170 | |
Commercial Real Estate, Held For Resale [Member] | ||
Impairment of Real Estate | 126,827 | |
Home Service [Member] | ||
Goodwill, Impairment Loss | $ 1,024,591 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Property and Equipment Useful Life (Details) | 12 Months Ended |
Dec. 31, 2020 | |
Furniture and Fixtures [Member] | |
Property and Equipment, Useful Life (Year) | 5 years |
Equipment [Member] | |
Property and Equipment, Useful Life (Year) | 7 years |
Building Improvements [Member] | |
Property and Equipment, Useful Life (Year) | 15 years |
Building [Member] | |
Property and Equipment, Useful Life (Year) | 27 years 182 days |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Revenue From Asset Management Operations (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Investment Performance [Member] | ||
Unrealized gains on investment activity | $ 3,424,267 | $ 1,607,644 |
Management and Performance Fee Revenue [Member] | ||
Unrealized gains on investment activity | 176,598 | 65,171 |
Fund Management Services Revenue [Member] | ||
Unrealized gains on investment activity | 89,608 | 100,461 |
Asset Management [Member] | ||
Unrealized gains on investment activity | $ 3,690,473 | $ 1,773,276 |
Note 3 - Home Services Divest_3
Note 3 - Home Services Divestiture (Details Textual) - USD ($) | May 24, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Income (Loss) from Discontinued Operations, Net of Tax, Offsetting Amount from Probable Royalties | $ 20,484 | $ 21,629 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 165,186 | (1,510,475) | |
Discontinued Operations, Held-for-sale [Member] | |||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 165,186 | (1,510,475) | |
Disposal Group, Including Discontinued Operation, Gain (Loss) on Extinguishment of Debt | $ (147,113) | ||
Rooter Hero [Member] | |||
Proceeds from Sale of Productive Assets, Total | $ 0 | ||
Royalty Agreement, Percent of Revenue in First Year | 7.50% | ||
Royalty Agreement, Percent of Revenue in Year Two Through Five | 5.00% |
Note 3 - Home Services Divestur
Note 3 - Home Services Divesture - Discontinued Assets and Liabilities (Details) - USD ($) | May 24, 2019 | Dec. 31, 2020 | Dec. 31, 2019 |
Total current assets - held for resale | $ 231 | $ 428 | |
Total current liabilities - held for resale | 146,958 | ||
Loss on sale of subsidiary, net of recoveries | (4,157,809) | ||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 165,186 | (1,510,475) | |
Discontinued Operations, Held-for-sale [Member] | |||
Cash and cash equivalents | 231 | 428 | |
Accounts receivable | |||
Other current assets | |||
Total current assets - held for resale | 231 | 428 | |
Accounts payable | 96,848 | ||
Accrued expenses | |||
Lease liabilities | 50,110 | ||
Other current liabilities | |||
Notes payable, current | |||
Total current liabilities - held for resale | 146,958 | ||
Sale of vehicles, equipment, and furniture, net of depreciation | $ 230,578 | ||
Impairment of remaining goodwill | 1,024,591 | ||
Total carrying value of assets sold | 1,255,169 | ||
Vehicle and equipment notes payable assumed by the buyer | 76,791 | ||
Service agreements assumed by the buyer | 19,646 | ||
Total carrying value of liabilities assumed | 96,437 | ||
Net loss on sale of subsidiary, pre-tax | $ 1,158,732 | ||
Revenues | 675,963 | ||
Cost of revenues | 432,872 | ||
Gross profit | 243,091 | ||
Selling, general, and administrative expenses | 2,411 | 535,650 | |
Loss on sale of subsidiary, net of recoveries | 20,484 | (1,125,364) | |
Disposal Group, Including Discontinued Operation, Gain (Loss) on Extinguishment of Debt | (147,113) | ||
Other income (expense), net | (92,552) | ||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | $ 165,186 | $ (1,510,475) |
Note 4 - Sale of Controlling _2
Note 4 - Sale of Controlling Interest in Real Estate Subsidiary (Details Textual) - USD ($) | Jun. 27, 2019 | Dec. 31, 2020 | Dec. 31, 2019 | Aug. 29, 2019 | Jun. 26, 2019 |
Mt. Melrose LLC [Member] | |||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | ||||
Mt. Melrose LLC [Member] | |||||
Equity Method Investment, Ownership Percentage | 35.00% | 35.00% | |||
Equity Method Investment, Ownership Percentage | 20.80% | ||||
Distribution Made to Limited Liability Company (LLC) Member, Percentage of Distribution | 67.00% | ||||
Equity Method Investment, Underlying Equity in Net Assets | $ 53,846 | $ 53,846 | $ 53,846 | ||
Equity Method Investment, Realized Gain (Loss) on Disposal, Total | $ 4,157,809 | ||||
Mt. Melrose LLC [Member] | Woodmont [Member] | |||||
Equity Method Investment, Ownership Percentage | 79.20% | ||||
Distribution Made to Limited Liability Company (LLC) Member, Percentage of Distribution | 33.00% | ||||
Mt. Melrose LLC [Member] | Minimum [Member] | |||||
Distribution Made to Limited Liability Company (LLC) Member, Cumulative Amount For Percentage Range | $ 2,000,000 | ||||
Mt. Melrose LLC [Member] | Maximum [Member] | |||||
Distribution Made to Limited Liability Company (LLC) Member, Cumulative Amount For Percentage Range | $ 3,000,000 | ||||
Mt. Melrose LLC [Member] | Woodmont [Member] | |||||
Percentage of Membership Interest in Subsidiary Sold | 65.00% | ||||
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | $ 100,000 |
Note 5 - Investments (Details T
Note 5 - Investments (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Equity Securities without Readily Determinable Fair Value, Realized Gains (Losses) | $ 76,810 | |
Alluvial Fund, LP [Member] | ||
Investment Income, Reinvested Amount | $ 22,027 | $ 19,056 |
Note 5 - Investments - Summary
Note 5 - Investments - Summary of Investments (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Cost Basis | $ 7,118,604 | $ 7,096,578 |
Accrued Fees | 6,455,858 | 3,029,626 |
Unrealized Gain | 13,574,462 | 10,126,204 |
Alluvial Fund, LP [Member] | ||
Cost Basis | 7,064,758 | 7,042,732 |
Accrued Fees | 6,455,858 | 3,029,626 |
Unrealized Gain | 13,520,616 | 10,072,358 |
Mt. Melrose LLC [Member] | ||
Cost Basis | 53,846 | 53,846 |
Accrued Fees | ||
Unrealized Gain | $ 53,846 | $ 53,846 |
Note 6 - Fair Value of Assets_3
Note 6 - Fair Value of Assets and Liabilities (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Goodwill, Impairment Loss | $ 0 | |
EDI Real Estate, LLC [Member] | ||
Impairment of Real Estate | 0 | |
Real Estate, Held For Sale [Member] | ||
Impairment of Real Estate | $ 0 | |
Real Estate, Held For Sale [Member] | EDI Real Estate, LLC [Member] | ||
Impairment of Real Estate | $ 26,170 | |
Commercial Real Estate, Held For Resale [Member] | ||
Impairment of Real Estate | 126,827 | |
Home Service [Member] | ||
Goodwill, Impairment Loss | $ 1,024,591 |
Note 6 - Fair Value of Assets_4
Note 6 - Fair Value of Assets and Liabilities - Schedule of Marketable Securities at Fair Value (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 | |
Fair Value | $ 13,520,616 | $ 10,072,358 | |
Alluvial Fund, LP [Member] | |||
Fair Value | 13,520,616 | 10,072,358 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value | |||
Fair Value, Inputs, Level 1 [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | |||
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value | |||
Fair Value, Inputs, Level 2 [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | |||
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value | |||
Fair Value, Inputs, Level 3 [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | |||
Fair Value Measured at Net Asset Value Per Share [Member] | |||
Fair Value | [1] | 13,520,616 | 10,072,358 |
Fair Value Measured at Net Asset Value Per Share [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | [1] | $ 13,520,616 | $ 10,072,358 |
[1] | Certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the consolidated balance sheets. |
Note 7 - Property and Equipme_3
Note 7 - Property and Equipment (Details Textual) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Depreciation, Total | $ 4,046 | $ 27,284 |
Assets Held-for-sale, Not Part of Disposal Group, Total | 98,910 | |
Gain (Loss) on Disposition of Property Plant Equipment, Total | (4,088) | |
Personal Property Used in Real Estate Segment Rental Operations [Member] | ||
Depreciation, Total | $ 0 | 9,310 |
Commercial Real Estate, Held For Resale in Lexington Kentucky [Member] | ||
Assets Held-for-sale, Not Part of Disposal Group, Total | 850,000 | |
Proceeds from Sale of Property, Plant, and Equipment, Total | 487,944 | |
Gain (Loss) on Disposition of Property Plant Equipment, Total | $ 56,467 |
Note 7 - Property and Equipme_4
Note 7 - Property and Equipment - Schedule of Cost of Property and Equipment (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Property and equipment, gross | $ 28,180 | $ 28,180 |
Less accumulated depreciation | (14,473) | (10,427) |
Property and equipment, net | 13,707 | 17,753 |
Computer Equipment [Member] | ||
Property and equipment, gross | 17,330 | 17,330 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | $ 10,850 | $ 10,850 |
Note 8 - Real Estate (Details T
Note 8 - Real Estate (Details Textual) | 12 Months Ended | |
Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | |
Depreciation, Total | $ 4,046 | $ 27,284 |
Proceeds from Sale of Real Estate Held-for-investment, Total | 519,000 | 1,774,317 |
Gains (Losses) on Sales of Investment Real Estate | 286,256 | 73,399 |
Real Estate, Held For Sale [Member] | ||
Impairment of Real Estate | 0 | |
Commercial Real Estate, Held For Resale [Member] | ||
Impairment of Real Estate | 126,827 | |
EDI Real Estate, LLC [Member] | ||
Depreciation, Total | 15,774 | 22,161 |
Real Estate Investment Property, Net, Total | $ 241,876 | $ 380,515 |
Number of Real Estate Properties Acquired | 0 | 0 |
Impairment of Real Estate | $ 0 | |
EDI Real Estate, LLC [Member] | Real Estate, Held For Sale [Member] | ||
Number of Real Estate Properties Sold | 4 | 1 |
Proceeds from Sale of Real Estate Held-for-investment, Total | $ 519,000 | $ 95,000 |
Proceeds from Sale of Real Estate Held-for-investment, Net | 229,209 | 84,869 |
Real Estate Investment Property, Net, Total | 232,744 | 95,000 |
Gains (Losses) on Sales of Investment Real Estate | $ 286,256 | 0 |
Impairment of Real Estate | 26,170 | |
Mt. Melrose LLC [Member] | ||
Depreciation, Total | $ 110,978 | |
Number of Real Estate Properties Sold | 19 | |
Proceeds from Sale of Real Estate Held-for-investment, Total | $ 775,850 | |
Proceeds from Sale of Real Estate Held-for-investment, Net | $ 151,672 | |
Number of Real Estate Properties Acquired | 0 | |
Mt. Melrose LLC [Member] | Vacant Lots [Member] | ||
Number of Real Estate Properties Sold | 5 | |
Mt. Melrose LLC [Member] | Residential Properties [Member] | ||
Real Estate Investment Property, Net, Total | $ 755,918 | |
Gains (Losses) on Sales of Investment Real Estate | 16,932 | |
Mt. Melrose LLC [Member] | Commercial Real Estate, Held For Resale [Member] | ||
Impairment of Real Estate | $ 126,827 |
Note 8 - Real Estate - Portfoli
Note 8 - Real Estate - Portfolio of Properties in Units (Details) - EDI Real Estate, LLC [Member] | Dec. 31, 2020 | Dec. 31, 2019 |
Real Estate Occupied or Available to Rent, Held For Investment [Member] | ||
Number of Real Estate Properties | 4 | 6 |
Vacant Real Estate Being Prepared or to Be Prepared to Market to Tenants, Held For Investment [Member] | ||
Number of Real Estate Properties | 3 | |
Real Estate Held For Investment [Member] | ||
Number of Real Estate Properties | 7 | 6 |
Real Estate, Units Held For Sale [Member] | ||
Number of Real Estate Properties | 2 | |
Real Estate Held For Sale, Vacant Lots [Member] | ||
Number of Real Estate Properties | 3 | |
Real Estate, Held For Sale [Member] | ||
Number of Real Estate Properties | 5 |
Note 8 - Real Estate - Schedule
Note 8 - Real Estate - Schedule of Carrying Amount of Real Estate Properties (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Real estate held for resale, net | $ 98,910 | |
EDI Real Estate, LLC [Member] | ||
Total real estate held for investment | 303,158 | 484,590 |
Accumulated depreciation, held for investment | (61,282) | (104,075) |
Real estate held for investment, net | 241,876 | 380,515 |
Real estate held for resale, net | $ 98,910 |
Note 8 - Real Estate - Minimum
Note 8 - Real Estate - Minimum Rental Revenues (Details) | Dec. 31, 2020USD ($) |
2020 | $ 18,079 |
2021 | |
2022 | |
Total | $ 18,079 |
Note 9 - Notes Payable (Details
Note 9 - Notes Payable (Details Textual) | Sep. 30, 2018 | Jun. 30, 2020USD ($) | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) | Mar. 31, 2019 |
Repayments of Debt | $ 260,931 | $ 1,121,987 | |||||
Paycheck Protection Program, CARES Act [Member] | |||||||
Proceeds from Issuance of Long-term Debt, Total | $ 125,102 | ||||||
Promissory Notes due September 1, 2033 [Member] | Real Estate Held For Investment [Member] | |||||||
Repayments of Debt | $ 203,271 | ||||||
Promissory Notes due September 1, 2033 [Member] | EDI Real Estate, LLC [Member] | Real Estate Held For Investment [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 5.60% | 5.60% | |||||
Debt Instrument Rate, Subject to Change, Term (Year) | 5 years | ||||||
US Treasury Security, Term (Year) | 5 years | ||||||
Debt Instrument, Investment Properties Securing Debt, Number of Properties Sold | 3 | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2033 | ||||||
Promissory Notes due September 1, 2033 [Member] | EDI Real Estate, LLC [Member] | Real Estate Held For Investment [Member] | Index Rate [Member] | |||||||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | ||||||
Promissory Notes due September 15, 2022 [Member] | EDI Real Estate, LLC [Member] | Real Estate Held For Investment [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||||||
Number Of Promissory Notes | 2 | ||||||
Repayments of Notes Payable | $ 41,600 | ||||||
Debt Instrument, Maturity Date | Sep. 1, 2033 | ||||||
Interest-bearing Notes Payable Secured by Commercial Warehouse Held for Resale [Member] | |||||||
Debt Instrument, Interest Rate, Stated Percentage | 8.00% |
Note 9 - Notes Payable - Summar
Note 9 - Notes Payable - Summary of Notes Payable (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Less current portion | $ (5,609) | $ (11,453) |
Long-term portion | $ 244,485 | 499,572 |
Interest Bearing Notes Payable [Member] | EDI Real Estate, LLC [Member] | ||
Notes payable, interest rate | 5.60% | |
Notes payable, term (Year) | 15 years | |
Notes payable | $ 154,094 | 373,425 |
Notes payable | $ 154,094 | 373,425 |
Interest Bearing Notes Payable [Member] | EDI Real Estate, LLC [Member] | Real Estate Held For Investment [Member] | ||
Notes payable, interest rate | 6.00% | |
Notes payable, term (Year) | 5 years | |
Notes payable | $ 96,000 | 137,600 |
Notes payable | $ 96,000 | $ 137,600 |
Note 9 - Notes Payable - Future
Note 9 - Notes Payable - Future Payments on Notes Payable (Details) | Dec. 31, 2020USD ($) |
2021 | $ 5,609 |
2022 | 101,507 |
2023 | 5,828 |
2024 | 6,145 |
2025 and thereafter | 131,005 |
Total | $ 250,094 |
Note 10 - Segment Information_2
Note 10 - Segment Information (Details Textual) | Jun. 27, 2019 | Jun. 30, 2019 | Dec. 31, 2020USD ($) | Dec. 31, 2019USD ($) |
Number of Operating Segments | 5 | 4 | ||
Internet Operations [Member] | UNITED STATES | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 929,383 | $ 1,011,407 | ||
Internet Operations [Member] | CANADA | ||||
Revenue from Contract with Customer, Including Assessed Tax | $ 49,563 | $ 54,822 | ||
Mt. Melrose LLC [Member] | Woodmont [Member] | ||||
Percentage of Membership Interest in Subsidiary Sold | 65.00% |
Note 10 - Segment Information -
Note 10 - Segment Information - Summary of Financial Information Concerning Company's Reportable Segments (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Revenues | $ 5,247,732 | $ 3,589,899 |
Cost of revenue | 648,218 | 816,113 |
Operating expenses | 1,618,294 | 2,072,467 |
Other income (expense) | 132,998 | (4,569,481) |
Income (loss) from continuing operations | 3,114,218 | (3,868,162) |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 165,186 | (1,510,475) |
Goodwill | 212,445 | 212,445 |
Identifiable assets | 14,857,180 | 11,899,644 |
Asset Management [Member] | ||
Revenues | 3,690,473 | 1,773,276 |
Cost of revenue | ||
Operating expenses | 425,704 | 410,226 |
Other income (expense) | 2,283 | 36,565 |
Income (loss) from continuing operations | 3,267,052 | 1,399,615 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | ||
Goodwill | ||
Identifiable assets | 13,721,139 | 10,186,353 |
Real Estate [Member] | ||
Revenues | 578,313 | 537,763 |
Cost of revenue | 326,636 | 485,459 |
Operating expenses | 31,937 | 338,025 |
Other income (expense) | (17,064) | (4,712,766) |
Income (loss) from continuing operations | 202,676 | (4,998,487) |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | ||
Goodwill | ||
Identifiable assets | 321,265 | 556,994 |
Internet Operations [Member] | ||
Revenues | 978,946 | 1,066,229 |
Cost of revenue | 321,582 | 330,654 |
Operating expenses | 193,791 | 223,118 |
Other income (expense) | 4,251 | 10,169 |
Income (loss) from continuing operations | 467,824 | 522,626 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | ||
Goodwill | 212,445 | 212,445 |
Identifiable assets | 476,101 | 414,935 |
Product and Service, Other [Member] | ||
Revenues | 212,631 | |
Cost of revenue | ||
Operating expenses | 966,862 | 1,101,098 |
Other income (expense) | 143,528 | 96,551 |
Income (loss) from continuing operations | (823,334) | (791,916) |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | ||
Goodwill | ||
Identifiable assets | 338,444 | 740,934 |
Home Service [Member] | Discontinued Operations [Member] | ||
Revenues | ||
Cost of revenue | ||
Operating expenses | ||
Other income (expense) | ||
Income (loss) from continuing operations | ||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 165,186 | (1,510,475) |
Goodwill | ||
Identifiable assets | $ 231 | $ 428 |
Note 11 - Commitments and Con_3
Note 11 - Commitments and Contingencies (Details Textual) - USD ($) | Jan. 07, 2020 | Jun. 27, 2019 | Apr. 12, 2016 | Dec. 31, 2020 | Dec. 05, 2019 | Aug. 29, 2019 |
Operating Lease, Expense | $ 18,684 | |||||
The Company's Delaware Action [Member] | ||||||
Property, Plant, and Equipment, Held-for-sale | $ 850,000 | |||||
Civil Action Complaint Against Frank Erhartic, Jr. [Member] | ||||||
Loss Contingency, Damages Sought, Value | $ 350,000 | |||||
Mt. Melrose LLC [Member] | ||||||
Equity Method Investment, Ownership Percentage | 35.00% | 35.00% | ||||
Equity Method Investment, Ownership Percentage | 20.80% | |||||
Mt. Melrose LLC [Member] | Woodmont [Member] | ||||||
Equity Method Investment, Ownership Percentage | 79.20% | |||||
Mt. Melrose LLC [Member] | Woodmont [Member] | The Company's Delaware Action [Member] | ||||||
Investment Income, Dividend | $ 600,000 | |||||
Woodmont [Member] | Mt. Melrose LLC [Member] | ||||||
Percentage of Membership Interest in Subsidiary Sold | 65.00% | |||||
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | $ 100,000 | |||||
Ownership Interest, Sold, Percent | 65.00% |
Note 11 - Commitments and Con_4
Note 11 - Commitments and Contingencies - Lease Expenses (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Amortization of ROU assets | ||
Interest on lease liabilities | ||
Operating lease costs | 46,058 | 64,092 |
Sublease income | (2,283) | (28,405) |
Total lease costs from continuing operations | 43,775 | 35,687 |
Total lease costs from discontinued operations | 64,901 | |
Total lease costs | $ 43,775 | $ 100,588 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Details Textual) - $ / shares | Dec. 30, 2019 | Dec. 31, 2020 | Jul. 24, 2020 | Dec. 31, 2019 |
Preferred Stock and Common Stock, Shares Authorized (in shares) | 32,800,000 | |||
Preferred Stock, Shares Authorized (in shares) | 30,000,000 | 30,000,000 | ||
Preferred Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.001 | $ 0.001 | ||
Common Stock, Shares Authorized (in shares) | 2,800,000 | 2,800,000 | ||
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.125 | $ 0.125 | ||
Common Stock, Shares, Issued, Total (in shares) | 2,602,240 | 2,566,646 | ||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 2,602,240 | 2,566,646 | ||
Treasury Stock [Member] | ||||
Treasury Stock, Shares, Retired (in shares) | 80,506 | |||
Series A Preferred Stock [Member] | ||||
Preferred Stock, Shares Authorized (in shares) | 250,000 |
Note 13 - Income Taxes (Details
Note 13 - Income Taxes (Details Textual) $ in Thousands | 12 Months Ended |
Dec. 31, 2020USD ($) | |
Operating Loss Carryforwards Expiration Start Year | 2032 |
Unrecognized Tax Benefits, Ending Balance | $ 0 |
Domestic Tax Authority [Member] | |
Operating Loss Carryforwards, Total | 13,400 |
State and Local Jurisdiction [Member] | |
Operating Loss Carryforwards, Total | $ 13,400 |
Note 13 - Income Taxes - Provis
Note 13 - Income Taxes - Provision for Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2020 | Dec. 31, 2019 | |
Federal | ||
State | ||
Federal | 504,902 | 1,097,146 |
State | 102,121 | 95,202 |
Valuation allowance | (607,023) | (1,192,348) |
Total income tax provision |
Note 13 - Income Taxes - Deferr
Note 13 - Income Taxes - Deferred Tax Assets and Liabilities (Details) - USD ($) | Dec. 31, 2020 | Dec. 31, 2019 |
Carrying value differences | $ 81,247 | $ 232,030 |
Net operating loss carryforward | 3,403,318 | 2,927,848 |
Tax credits | 15,070 | 6,250 |
Other | ||
Subtotal | 3,499,635 | 3,166,128 |
Valuation allowance | (2,133,861) | (2,732,064) |
Net deferred tax assets | 1,365,774 | 434,064 |
Net unrealized gains on appreciated investments | (1,365,774) | (434,064) |
Net deferreds |
Note 14 - Related Party Trans_2
Note 14 - Related Party Transactions (Details Textual) - USD ($) | Jun. 13, 2017 | Dec. 31, 2020 | Dec. 31, 2019 |
Bonhoeffer Fund, LP [Member] | |||
Revenue from Related Parties | $ 36,217 | $ 38,599 | |
Arquitos Capital Management, LLC [Member] | |||
Revenue from Related Parties | 2,283 | 28,405 | |
Arquitos Investment Manager, LP [Member] | |||
Revenue from Related Parties | $ 89,930 | $ 100,461 | |
Willow Oak Asset Management LLC [Member] | |||
Percentage of Performance and Management Fees Earned | 50.00% |