Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2021 | Nov. 10, 2021 | |
Document Information [Line Items] | ||
Entity Central Index Key | 0001096934 | |
Entity Registrant Name | ENTERPRISE DIVERSIFIED, INC. | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Document Fiscal Period Focus | Q3 | |
Document Fiscal Year Focus | 2021 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Sep. 30, 2021 | |
Document Transition Report | false | |
Entity File Number | 000-27763 | |
Entity Incorporation, State or Country Code | NV | |
Entity Tax Identification Number | 88-0397234 | |
Entity Address, Address Line One | 1806 Summit Avenue, Suite 300 | |
Entity Address, City or Town | Richmond | |
Entity Address, State or Province | VA | |
Entity Address, Postal Zip Code | 23230 | |
City Area Code | 434 | |
Local Phone Number | 336-7737 | |
Entity Current Reporting Status | Yes | |
Entity Interactive Data Current | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity Common Stock, Shares Outstanding | 2,647,383 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Current Assets | ||
Cash and cash equivalents | $ 9,316,890 | $ 341,007 |
Accounts receivable, net | 302,548 | 144,791 |
Investment redemption receivable | 5,579,679 | 0 |
Other current assets | 34,126 | 44,530 |
Current assets - held for resale | 0 | 231 |
Total current assets | 15,233,243 | 530,559 |
Long-term Assets | ||
Real estate - held for investment, net | 27,334 | 241,876 |
Property and equipment, net | 10,673 | 13,707 |
Goodwill, net | 212,445 | 212,445 |
Note receivable | 169,105 | 210,879 |
Long-term investments | 3,765,834 | 13,574,462 |
Other assets | 64,250 | 73,252 |
Total long-term assets | 4,249,641 | 14,326,621 |
Total assets | 19,482,884 | 14,857,180 |
Current Liabilities | ||
Accounts payable | 67,585 | 65,524 |
Accrued compensation | 268,227 | 281,904 |
Accrued expenses | 197,379 | 24,159 |
Deferred revenue | 198,199 | 192,088 |
Income taxes payable | 360,000 | 0 |
Notes payable, current | 0 | 5,609 |
Total current liabilities | 1,091,390 | 569,284 |
Long-term Liabilities | ||
Notes payable, net of current portion | 0 | 244,485 |
Total long-term liabilities | 0 | 244,485 |
Total liabilities | 1,091,390 | 813,769 |
Stockholders’ Equity | ||
Preferred stock, $0.001 par value, 30,000,000 shares authorized; none issued | 0 | 0 |
Common stock, $0.125 par value, 10,000,000 and 2,800,000 shares authorized; 2,647,383 and 2,602,240 shares issued and outstanding | 330,922 | 325,280 |
Additional paid-in capital | 27,673,692 | 27,439,334 |
Accumulated deficit | (9,613,120) | (13,721,203) |
Total stockholders’ equity | 18,391,494 | 14,043,411 |
Total liabilities and stockholders’ equity | $ 19,482,884 | $ 14,857,180 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2021 | Dec. 31, 2020 |
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) | 10,000,000 | 2,800,000 |
Common stock, shares issued (in shares) | 2,647,383 | 2,602,240 |
Common stock, shares outstanding (in shares) | 2,647,383 | 2,602,240 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Revenues | $ 1,026,211 | $ 1,865,516 | $ 5,577,715 | $ 2,091,598 |
Cost of revenues | 62,329 | 97,569 | 448,174 | 403,309 |
Gross profit - asset management | 963,882 | 1,767,947 | 5,129,541 | 1,688,289 |
Selling, general, and administrative expenses | ||||
Insurance | 21,905 | 11,737 | 41,445 | 40,560 |
Professional fees | 396,430 | 122,102 | 696,643 | 466,351 |
Salaries and wages | 197,428 | 164,733 | 572,487 | 492,329 |
Travel and meals | 889 | 121 | 5,975 | 3,256 |
Other operating expenses | 43,847 | 42,019 | 144,817 | 147,016 |
Total selling, general and administrative expenses | 660,499 | 340,712 | 1,461,367 | 1,149,512 |
Income from operations | 303,383 | 1,427,235 | 3,668,174 | 538,777 |
Gain on sale of noncontrolling interest in subsidiary | 0 | 0 | 778,872 | 0 |
Interest expense | (332) | (5,771) | (7,277) | (19,787) |
Other income (expense), net | 34,178 | 7,632 | 28,314 | 26,498 |
Total other income | 33,846 | 1,861 | 799,909 | 6,711 |
Income from continuing operations before income taxes | 337,229 | 1,429,096 | 4,468,083 | 545,488 |
Income tax benefit (expense) | (360,000) | 0 | (360,000) | 0 |
Income (loss) from continuing operations | (22,771) | 1,429,096 | 4,108,083 | 545,488 |
Income from discontinued operations, net of taxes | 0 | 1,857 | 0 | 15,762 |
Net income (loss) | $ (22,771) | $ 1,430,953 | $ 4,108,083 | $ 561,250 |
Net income (loss) per share, basic and diluted (in dollars per share) | $ (0.01) | $ 0.55 | $ 1.55 | $ 0.22 |
Net income (loss) per share from continuing operations, basic and diluted (in dollars per share) | (0.01) | 0.55 | 1.55 | 0.21 |
Net income per share from discontinued operations, basic and diluted (in dollars per share) | $ 0 | $ 0 | $ 0 | $ 0.01 |
Weighted average number of shares, basic (in shares) | 2,647,383 | 2,602,240 | 2,641,926 | 2,596,541 |
Weighted average number of shares, diluted (in shares) | 2,647,383 | 2,602,908 | 2,642,369 | 2,597,136 |
Asset Management [Member] | ||||
Revenues | $ 806,314 | $ 1,607,150 | $ 4,556,173 | $ 1,130,815 |
Gross profit - asset management | 806,314 | 1,607,150 | 4,556,173 | 1,130,815 |
Real Estate [Member] | ||||
Revenues | 1,800 | 16,129 | 347,260 | 219,772 |
Cost of revenues | 466 | 12,157 | 244,319 | 151,480 |
Gross profit - asset management | 1,334 | 3,972 | 102,941 | 68,292 |
Internet Operations [Member] | ||||
Revenues | 218,097 | 242,237 | 674,282 | 741,011 |
Cost of revenues | 61,863 | 85,412 | 203,855 | 251,829 |
Gross profit - asset management | $ 156,234 | $ 156,825 | $ 470,427 | $ 489,182 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity - USD ($) | Common Stock [Member] | Additional Paid-in Capital [Member] | Retained Earnings [Member] | Total |
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) | $ 0 | 0 | (1,971,168) | (1,971,168) |
Stock issuance (in shares) | 35,594 | |||
Stock issuance | $ 4,449 | 125,600 | 0 | 130,049 |
Balance (in shares) at Mar. 31, 2020 | 2,602,240 | |||
Balance at Mar. 31, 2020 | $ 325,280 | 27,439,334 | (18,971,775) | 8,792,839 |
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) | 561,250 | |||
Balance (in shares) at Sep. 30, 2020 | 2,602,240 | |||
Balance at Sep. 30, 2020 | $ 325,280 | 27,439,334 | (16,439,357) | 11,325,257 |
Balance (in shares) at Mar. 31, 2020 | 2,602,240 | |||
Balance at Mar. 31, 2020 | $ 325,280 | 27,439,334 | (18,971,775) | 8,792,839 |
Net income (loss) | $ 0 | 0 | 1,101,465 | 1,101,465 |
Balance (in shares) at Jun. 30, 2020 | 2,602,240 | |||
Balance at Jun. 30, 2020 | $ 325,280 | 27,439,334 | (17,870,310) | 9,894,304 |
Net income (loss) | $ 0 | 0 | 1,430,953 | 1,430,953 |
Balance (in shares) at Sep. 30, 2020 | 2,602,240 | |||
Balance at Sep. 30, 2020 | $ 325,280 | 27,439,334 | (16,439,357) | 11,325,257 |
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 |
Net income (loss) | $ 0 | 0 | 1,978,649 | 1,978,649 |
Stock issuance (in shares) | 45,143 | |||
Stock issuance | $ 5,642 | 234,358 | 0 | 240,000 |
Balance (in shares) at Mar. 31, 2021 | 2,647,383 | |||
Balance at Mar. 31, 2021 | $ 330,922 | 27,673,692 | (11,742,554) | 16,262,060 |
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 |
Net income (loss) | 4,108,083 | |||
Balance (in shares) at Sep. 30, 2021 | 2,647,383 | |||
Balance at Sep. 30, 2021 | $ 330,922 | 27,673,692 | (9,613,120) | 18,391,494 |
Balance (in shares) at Mar. 31, 2021 | 2,647,383 | |||
Balance at Mar. 31, 2021 | $ 330,922 | 27,673,692 | (11,742,554) | 16,262,060 |
Net income (loss) | $ 0 | 0 | 2,152,205 | 2,152,205 |
Balance (in shares) at Jun. 30, 2021 | 2,647,383 | |||
Balance at Jun. 30, 2021 | $ 330,922 | 27,673,692 | (9,590,349) | 18,414,265 |
Net income (loss) | $ 0 | 0 | (22,771) | (22,771) |
Balance (in shares) at Sep. 30, 2021 | 2,647,383 | |||
Balance at Sep. 30, 2021 | $ 330,922 | $ 27,673,692 | $ (9,613,120) | $ 18,391,494 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Sep. 30, 2020 | |
Cash flows from (used in) from operating activities: | ||
Net income from continuing operations | $ 4,108,083 | $ 545,488 |
Adjustments to reconcile net income to net cash flows from (used in) operating activities: | ||
Unrealized (gains) losses on long-term investments | (4,166,015) | (992,789) |
Gain on sale of noncontrolling interest in subsidiary | (778,872) | 0 |
Gain on sale of real estate | (120,787) | (73,165) |
Depreciation and amortization | 15,365 | 16,424 |
Bad debt (recoveries) expense | (8) | 322 |
Accrued stock compensation expense | 237,500 | 112,500 |
Accrued interest income on notes receivable | (14,105) | (11,797) |
Other | 231 | 0 |
(Increase) decrease in: | ||
Accounts receivable, net | (157,749) | 2,743 |
Other current assets | 10,873 | 12,555 |
Accounts payable | (5,221) | (94,361) |
Accrued expenses | 162,043 | (5,300) |
Income taxes payable | 360,000 | 0 |
Deferred revenue | 6,111 | 8,538 |
Net cash flows from (used in) continuing operations | (342,551) | (478,842) |
Net cash flows from discontinued operations | 0 | 16,084 |
Net cash flows from (used in) operating activities | (342,551) | (462,758) |
Cash flows from investing activities: | ||
Proceeds from sale of investments | 8,458,895 | 0 |
Purchases of investments | (72,367) | (16,587) |
Proceeds from sale of subsidiary | 850,000 | 0 |
Proceeds from sale of real estate | 332,000 | 172,000 |
Improvements to real estate held for investment | 0 | (10,969) |
Net cash flows from continuing operations | 9,568,528 | 144,444 |
Net cash flows from discontinued operations | 0 | 0 |
Net cash flows from investing activities | 9,568,528 | 144,444 |
Cash flows from financing activities: | ||
Principal payments on note payable | (250,094) | (136,449) |
Proceeds from notes payable | 0 | 125,102 |
Net cash flows (used in) from continuing operations | (250,094) | (11,347) |
Net cash flows (used in) from discontinued operations | 0 | 0 |
Net cash flows (used in) financing activities | (250,094) | (11,347) |
Net increase (decrease) in cash | 8,975,883 | (329,661) |
Cash and cash equivalents at beginning of the period | 341,007 | 666,810 |
Cash and cash equivalents at end of the period | 9,316,890 | 337,149 |
Non-cash and other supplemental information: | ||
Transfer of real estate held for investment to held for resale | 211,213 | 177,826 |
Distribution receivable | 5,579,679 | 0 |
Transfer of real estate held for resale to held for investment | 0 | 43,992 |
Issuance of common stock per equity compensation plan | 240,000 | 130,049 |
Accrued interest receivable converted to Triad Guaranty, Inc. stock | 45,410 | 0 |
Continuing operations cash paid for interest | $ 7,277 | $ 19,787 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
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 three nine September 30, 2021, four one not one June 30, 2019, fifth three nine September 30, 2021, 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, May 31, 2021, September 30, 2021, second nine September 30, 2021. September 30, 2021, In furtherance of establishing the asset management operations business, Willow Oak signed a fee share agreement in June 2017 not On November 1, 2018, third November 1, 2020, On October 1, 2019, January 1, 2020. one On September 29, 2020, Real Estate Operations As has been previously reported, in December 2017, December 2017 January June 2018, two June 27, 2019, third June 27, 2019. 8 May 20, 2021, May 17, 2021, June 30, 2021, not 4 11 As has been previously reported, in July 2017, September 30, 2021, 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 Other Operations Other operations include nonrecurring or one not one not Financing Arrangement Regarding Triad Guaranty, Inc. In August 2017, third third April 2018, May 2018. December 31, 2020, December 31, 2022, three March 31, 2021, December 31, 2020. 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. Discontinued Operations - Home Services Operations Prior to May 24, 2019, June 2016, third As has been previously reported, on May 24, 2019, 3 Principles of Consolidation The accompanying unaudited 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, Willow Oak Asset Management Affiliate Management Services, LLC, Willow Oak Asset Management Fund Management Services, LLC, Bonhoeffer Capital Management, LLC, Sitestar.net, Inc., and EDI Real Estate, LLC. All intercompany accounts and transactions have been eliminated in consolidation. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. Basis of Presentation The accompanying interim consolidated financial statements are unaudited. These unaudited interim consolidated financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not December 31, 2020, not 10 December 31, 2020. September 30, 2021, three nine September 30, 2021, 2020. Use of Estimates In accordance with 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 not not 5 During the nine September 30, 2021, December 31, 2020, not May 17, 2021, June 30, 2021, 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. For these reasons, performance fee shares are designated as contract assets until they crystalize annually on December 31. December 31, no no not September 30, 2021 September 30, 2021 Accrued contract assets per Willow Oak fee share arrangements $ 265,819 Operating accounts receivable, net of allowance 36,729 Total accounts receivable, net $ 302,548 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 September 30, 2021, December 31, 2020, September 30, 2021, 2020, nine September 30, 2021, 2020, 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 31, not Impairment testing of goodwill is required at the reporting-unit level (operating segment or one may No impairment adjustments were recorded during the three nine September 30, 2021, 2020. Intangible assets (other than goodwill) consist of domain names attributed to the internet operations segment. The Company owns 225 domain names, of which 105 are available for sale. These domains are valued at historical cost. When management determines that material intangible assets are acquired in conjunction with the purchase of a business, the Company determines the fair values of the identifiable intangible assets by taking into account internal and external appraisals. Intangible assets determined to have definite lives are amortized over their estimated useful lives. 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 intangible asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not No three nine September 30, 2021, 2020. 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 three nine September 30, 2021, 2020. 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 three nine September 30, 2021, three nine September 30, 2020, three nine September 30, 2020, three nine September 30, 2021. three nine September 30, 2020. Accrued Compensation Accrued compensation represents performance-based incentives that have not 2020 Other Accrued Expenses Other accrued expenses represent incurred but not Leases The Company records right-of-use (ROU) assets and lease liabilities arising from both financing and operating leases that contain terms extending longer than one not 12 Revenue Recognition Asset Management Operations and Other Investment Revenue The Company earns revenue from investments and through various fee share and service 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. Accrued monthly performance fee shares are designated as contract assets until they crystalize annually on December 31. December 31, no 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 unaudited condensed consolidated statements of operations. A summary of revenue earned through the asset management operations segment for the three nine September 30, 2021, 2020 For the three months ended For the nine months ended Asset Management Operations Revenue September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Realized and unrealized gains (losses) on investment activity $ 829,579 $ 1,545,239 $ 4,167,650 $ 989,609 Management and performance fee revenue (44,539 ) 37,858 325,815 69,153 Fund management services revenue 21,274 24,053 62,708 72,053 Total revenue $ 806,314 $ 1,607,150 $ 4,556,173 $ 1,130,815 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 Deferred Revenue Deferred revenue represents collections from customers in advance of services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue from continuing operations increased from $192,088 at December 31, 2020, September 30, 2021. three September 30, 2021, 2020, nine September 30, 2021, 2020, 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, During the three nine September 30, 2021, $360,000. three nine September 30, 2020. 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. There were no potentially dilutive shares for the three September 30, 2021. nine September 30, 2021 three nine September 30, 2020, three not no None Recently Issued Accounting Pronouncements 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 - Historical Home Servic
Note 3 - Historical Home Services Subsidiary Asset Sale | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 3. On May 24, 2019, third sixty 60 first two The operations of Specialty Contracting Group, LLC had been considered a component of, and the divestiture reflected a strategic shift in, the Company’s business. As such, Specialty Contracting Group, LLC’s historical operations have been classified as discontinued operations in the Company’s financial statements. The loss from discontinued operations has been determined using a loss recovery approach, as the collection of future royalties is uncertain and a reasonable estimate could not 50% not three nine September 30, 2021, no three nine September 30, 2020, As of December 31, 2020, December 31, 2020. September 30, 2021, A reconciliation of discontinued operations as reported on the accompanying unaudited condensed consolidated statements of operations for the three nine September 30, 2021, 2020, For the three months ended For the nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Revenues $ — $ — $ — $ — Cost of revenues — — — — Gross profit — — — — Selling, general, and administrative expenses — 30 — 2,381 Recoveries from sale of subsidiary — 1,887 — 18,143 Other income (expense), net — — — — Income (loss) reported as discontinued operations $ — $ 1,857 $ — $ 15,762 |
Note 4 - Historical Sale of Con
Note 4 - Historical Sale of Controlling Interest in Real Estate Subsidiary | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Controlling Stock Sale of Real Estate Subsidiary [Text Block] | NOTE 4. Historical Transaction As has been previously reported, on June 27, 2019, third In connection with this transaction, the Company and Woodmont also 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 While the operations of Mt Melrose, LLC were considered a component of the Company’s business, the June 27, 2019, not June 27, 2019, no June 27, 2019, Accounting for Then-Remaining Mt Melrose Investment The Company adopted ASU 2016 01 January 1, 2018. 2016 01 not not Using the $100,000 65% June 27, 2019, 35% March 31, 2021, December 31, 2020. However, as mentioned previously, on May 17, 2021, June 30, 2021, not June 30, 2021, May 17, 2021, nine September 30, 2021. May 17, 2021, |
Note 5 - Investments
Note 5 - Investments | 9 Months Ended |
Sep. 30, 2021 | |
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 not Cost Basis Unrealized Gain Carrying Value September 30, 2021 Alluvial Fund, LP (at fair value) $ 1,431,139 $ 2,289,285 $ 3,720,424 Triad Guaranty, Inc. stock (at cost) 45,410 — 45,410 Total $ 1,476,549 $ 2,289,285 $ 3,765,834 Cost Basis Unrealized Gain Carrying Value December 31, 2020 Alluvial Fund, LP (at fair value) $ 7,064,758 $ 6,455,858 $ 13,520,616 Mt Melrose, LLC (at cost) 53,846 — 53,846 Total $ 7,118,604 $ 6,455,858 $ 13,574,462 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 three nine September 30, 2021, not three nine September 30, 2020. three nine September 30, 2021, three nine September 30, 2020, |
Note 6 - Fair Value of Assets a
Note 6 - Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2021 | |
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 September 30, 2021 Alluvial Fund, LP $ — $ — $ — $ 3,720,424 $ 3,720,424 Total investments $ — $ — $ — $ 3,720,424 $ 3,720,424 (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 (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 Nonrecurring Basis The Company analyzes goodwill on an annual basis or more often if events or changes in circumstances indicate potential impairments. No impairments were recorded during the three nine September 30, 2021, 2020. 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 three nine September 30, 2021, 2020. As discussed in Note 4, three nine September 30, 2021, 2020. As discussed previously, the Company holds stock in Triad Guaranty, Inc. This stock was received in accordance with the December 31, 2020, December 31, 2020. No three nine September 30, 2021. |
Note 7 - Property and Equipment
Note 7 - Property and Equipment | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 7. The cost of property and equipment at September 30, 2021, December 31, 2020, September 30, 2021 December 31, 2020 Computers and equipment $ 17,330 $ 17,330 Furniture and fixtures 10,850 10,850 28,180 28,180 Less accumulated depreciation (17,507 ) (14,473 ) Property and equipment, net $ 10,673 $ 13,707 Depreciation expense from continuing operations was $ 1,012 three September 30, 2021, 2020, $3,034 nine September 30, 2021, 2020. |
Note 8 - Real Estate
Note 8 - Real Estate | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | NOTE 8. EDI Real Estate, LLC Through EDI Real Estate, as of September 30, 2021, December 31, 2020, EDI Real Estate September 30, 2021 December 31, 2020 Units occupied or available for rent 1 4 Vacant lots held for investment 3 3 Total units held for investment 4 7 Units held for resale — — Vacant lots held for resale — — Total units held for resale — — Units held for investment consist of single-family residential rental units. The lease in effect as of September 30, 2021, no EDI Real Estate September 30, 2021 December 31, 2020 Total real estate held for investment $ 43,846 $ 303,158 Accumulated depreciation (16,512 ) (61,282 ) Real estate held for investment, net $ 27,334 $ 241,876 For the three nine September 30, 2021, three nine September 30, 2020, There were no three September 30, 2021, 2020. nine September 30, 2021. three nine September 30, 2020, two three nine September 30, 2021, 2020 No impairment adjustments were recorded on the EDI Real Estate portfolio during the three nine September 30, 2021, 2020. |
Note 9 - Notes Payable
Note 9 - Notes Payable | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 9. Notes payable at September 30, 2021, December 31, 2020, Interest Rates Average Term September 30, 2021 December 31, 2020 Interest-bearing amount due on promissory note through EDI Real Estate, LLC 5.60% 15 years $ — $ 154,094 Interest-bearing amount due on real estate held for investment through EDI Real Estate, LLC 6.00% 5 years — 96,000 Less current portion — (5,609 ) Long-term portion $ — $ 244,485 During the quarterly period ended September 30, 2018, September 1, 2033 five five September 30, 2021, no During the quarterly period ended September 30, 2017, September 15, 2022 June 30, 2021, |
Note 10 - Segment Information
Note 10 - Segment Information | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 10. During the three nine September 30, 2021, four four During periods prior to the quarter ended June 30, 2019, fifth 3, May 24, 2019. three nine September 30, 2021, 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, prior to the sale of the Company’s remaining membership interests on May 17, 2021, The internet operations segment includes revenue and expenses related to our sale of internet access, hosting, storage, and other ancillary services. Our internet segment includes revenue generated by operations in both the United States and Canada. For the three September 30, 2021, 2020, nine September 30, 2021, 2020, September 30, 2021, December 31, 2020, The other operations segment includes revenue and expenses from nonrecurring or one Summarized financial information concerning the Company’s reportable segments is shown in the following tables for the three nine September 30, 2021, 2020. Three Months Ended September 30, 2021 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 806,314 $ 1,800 $ 218,097 $ — $ — $ 1,026,211 Cost of revenue — 466 61,863 — — 62,329 Operating expenses 113,158 15,202 54,905 477,234 — 660,499 Other income (expense) — (332 ) 19,930 14,248 — 33,846 Income tax benefit (expense) — — — (360,000 ) — (360,000 ) Income (loss) from continuing operations, net of taxes 693,156 (14,200 ) 121,259 (822,986 ) — (22,771 ) Income from discontinued operations, net of taxes — — — — — — Goodwill — — 212,445 — — 212,445 Identifiable assets $ 9,681,756 $ 43,558 $ 425,155 $ 9,332,415 $ — $ 19,482,884 Nine Months Ended September 30, 2021 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 4,556,173 $ 347,260 $ 674,282 $ — $ — $ 5,577,715 Cost of revenue — 244,319 203,855 — — 448,174 Operating expenses 343,808 39,936 151,791 925,832 — 1,461,367 Other income (expense) — 755,345 20,651 23,913 — 799,909 Income tax benefit (expense) — — — (360,000 ) — (360,000 ) Income (loss) from continuing operations, net of taxes 4,212,365 818,350 339,287 (1,261,919 ) — 4,108,083 Income from discontinued operations, net of taxes — — — — — — Goodwill — — 212,445 — — 212,445 Identifiable assets $ 9,681,756 $ 43,558 $ 425,155 $ 9,332,415 $ — $ 19,482,884 Three Months Ended September 30, 2020 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 1,607,150 $ 16,129 $ 242,237 $ — $ — $ 1,865,516 Cost of revenue — 12,157 85,412 — — 97,569 Operating expenses 120,368 5,940 49,239 165,165 — 340,712 Other income (expense) — (5,456 ) 777 6,540 — 1,861 Income (loss) from continuing operations, net of taxes 1,486,782 (7,424 ) 108,363 (158,625 ) — 1,429,096 Income from discontinued operations, net of taxes — — — — 1,857 1,857 Goodwill — — 212,445 — — 212,445 Identifiable assets $ 11,170,904 $ 452,357 $ 470,667 $ 331,834 $ 261 $ 12,426,023 Nine Months Ended September 30, 2020 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 1,130,815 $ 219,772 $ 741,011 $ — $ — $ 2,091,598 Cost of revenue — 151,480 251,829 — — 403,309 Operating expenses 323,351 23,651 143,521 658,989 — 1,149,512 Other income (expense) 2,283 (13,454 ) 3,900 13,982 — 6,711 Income (loss) from continuing operations, net of taxes 809,747 31,187 349,561 (645,007 ) — 545,488 Income from discontinued operations, net of taxes — — — — 15,762 15,762 Goodwill — — 212,445 — — 212,445 Identifiable assets $ 11,170,904 $ 452,357 $ 470,667 $ 331,834 $ 261 $ 12,426,023 |
Note 11 - Commitments and Conti
Note 11 - Commitments and Contingencies | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 11. Leases As of September 30, 2021, December 31, 2020, no The previous lease for office space for Willow Oak Asset Management, LLC expired on September 30, 2020, October 1, 2020. 12 February 2020. not three nine September 30, 2021, three nine September 30, 2020, There were no other operating lease costs from continuing operations for the three nine September 30, 2021. three nine September 30, 2020, As the Company has no September 30, 2021, December 31, 2020, no Litigation & Legal Proceedings Enterprise Diversified, Inc. (f/k/a Sitestar Corporation) v. Frank Erhartic, Jr. As has been previously reported, on April 12, 2016, December 14, 2015) 5% five Other: Mt Melrose-related Proceedings As has been previously reported, various disputes had arisen between the Company and Woodmont Lexington, LLC (“ Woodmont June 27, 2019, Mt Melrose As has been previously reported, these disputes had resulted in certain litigation between the parties commenced by the Company on November 20, 2019, No. 2019 0928 No. 19 4304 March 2021, As outcome to the parties’ mediation, on May 17, 2021, one June 27, 2019, no May 17, 2021. June 30, 2021. no |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 12. EQUITY Classes of Shares As of September 30, 2021, 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 September 30, 2021, not As previously reported in the Company’s Current Report on Form 8 July 29, 2020, July 24, 2020, July 24, 2020, Common Stock As of September 30, 2021, As previously reported in the Company’s Current Report on Form 8 No. 1 July 8, 2021, June 16, 2021, |
Note 13 - Subsequent Events
Note 13 - Subsequent Events | 9 Months Ended |
Sep. 30, 2021 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 13. Management has evaluated all subsequent events from September 30, 2021, no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2021 | |
Accounting Policies [Abstract] | |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The accompanying interim consolidated financial statements are unaudited. These unaudited interim consolidated financial statements have been prepared in accordance with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for interim financial information. Accordingly, they do not December 31, 2020, not 10 December 31, 2020. September 30, 2021, three nine September 30, 2021, 2020. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In accordance with 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 not not 5 During the nine September 30, 2021, December 31, 2020, not May 17, 2021, June 30, 2021, 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. For these reasons, performance fee shares are designated as contract assets until they crystalize annually on December 31. December 31, no no not September 30, 2021 September 30, 2021 Accrued contract assets per Willow Oak fee share arrangements $ 265,819 Operating accounts receivable, net of allowance 36,729 Total accounts receivable, net $ 302,548 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 September 30, 2021, December 31, 2020, September 30, 2021, 2020, nine September 30, 2021, 2020, |
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 31, not Impairment testing of goodwill is required at the reporting-unit level (operating segment or one may No impairment adjustments were recorded during the three nine September 30, 2021, 2020. Intangible assets (other than goodwill) consist of domain names attributed to the internet operations segment. The Company owns 225 domain names, of which 105 are available for sale. These domains are valued at historical cost. When management determines that material intangible assets are acquired in conjunction with the purchase of a business, the Company determines the fair values of the identifiable intangible assets by taking into account internal and external appraisals. Intangible assets determined to have definite lives are amortized over their estimated useful lives. 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 intangible asset or asset grouping over the remaining life in measuring whether the assets are recoverable. In the event such cash flows are not No three nine September 30, 2021, 2020. |
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 three nine September 30, 2021, 2020. 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 three nine September 30, 2021, three nine September 30, 2020, three nine September 30, 2020, three nine September 30, 2021. three nine September 30, 2020. |
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 The Company records right-of-use (ROU) assets and lease liabilities arising from both financing and operating leases that contain terms extending longer than one not 12 |
Revenue from Contract with Customer [Policy Text Block] | Revenue Recognition Asset Management Operations and Other Investment Revenue The Company earns revenue from investments and through various fee share and service 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. Accrued monthly performance fee shares are designated as contract assets until they crystalize annually on December 31. December 31, no 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 unaudited condensed consolidated statements of operations. A summary of revenue earned through the asset management operations segment for the three nine September 30, 2021, 2020 For the three months ended For the nine months ended Asset Management Operations Revenue September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Realized and unrealized gains (losses) on investment activity $ 829,579 $ 1,545,239 $ 4,167,650 $ 989,609 Management and performance fee revenue (44,539 ) 37,858 325,815 69,153 Fund management services revenue 21,274 24,053 62,708 72,053 Total revenue $ 806,314 $ 1,607,150 $ 4,556,173 $ 1,130,815 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 Deferred Revenue Deferred revenue represents collections from customers in advance of services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue from continuing operations increased from $192,088 at December 31, 2020, September 30, 2021. three September 30, 2021, 2020, nine September 30, 2021, 2020, |
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, During the three nine September 30, 2021, $360,000. three nine September 30, 2020. |
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. There were no potentially dilutive shares for the three September 30, 2021. nine September 30, 2021 three nine September 30, 2020, three not no None |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements 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) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | September 30, 2021 Accrued contract assets per Willow Oak fee share arrangements $ 265,819 Operating accounts receivable, net of allowance 36,729 Total accounts receivable, net $ 302,548 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. |
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] | For the three months ended For the nine months ended Asset Management Operations Revenue September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Realized and unrealized gains (losses) on investment activity $ 829,579 $ 1,545,239 $ 4,167,650 $ 989,609 Management and performance fee revenue (44,539 ) 37,858 325,815 69,153 Fund management services revenue 21,274 24,053 62,708 72,053 Total revenue $ 806,314 $ 1,607,150 $ 4,556,173 $ 1,130,815 |
Note 3 - Historical Home Serv_2
Note 3 - Historical Home Services Subsidiary Asset Sale (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Disposal Groups, Including Discontinued Operations [Table Text Block] | For the three months ended For the nine months ended September 30, 2021 September 30, 2020 September 30, 2021 September 30, 2020 Revenues $ — $ — $ — $ — Cost of revenues — — — — Gross profit — — — — Selling, general, and administrative expenses — 30 — 2,381 Recoveries from sale of subsidiary — 1,887 — 18,143 Other income (expense), net — — — — Income (loss) reported as discontinued operations $ — $ 1,857 $ — $ 15,762 |
Note 5 - Investments (Tables)
Note 5 - Investments (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Investment Holdings, Schedule of Investments [Table Text Block] | Cost Basis Unrealized Gain Carrying Value September 30, 2021 Alluvial Fund, LP (at fair value) $ 1,431,139 $ 2,289,285 $ 3,720,424 Triad Guaranty, Inc. stock (at cost) 45,410 — 45,410 Total $ 1,476,549 $ 2,289,285 $ 3,765,834 Cost Basis Unrealized Gain Carrying Value December 31, 2020 Alluvial Fund, LP (at fair value) $ 7,064,758 $ 6,455,858 $ 13,520,616 Mt Melrose, LLC (at cost) 53,846 — 53,846 Total $ 7,118,604 $ 6,455,858 $ 13,574,462 |
Note 6 - Fair Value of Assets_2
Note 6 - Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
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 September 30, 2021 Alluvial Fund, LP $ — $ — $ — $ 3,720,424 $ 3,720,424 Total investments $ — $ — $ — $ 3,720,424 $ 3,720,424 (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 |
Note 7 - Property and Equipme_2
Note 7 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | September 30, 2021 December 31, 2020 Computers and equipment $ 17,330 $ 17,330 Furniture and fixtures 10,850 10,850 28,180 28,180 Less accumulated depreciation (17,507 ) (14,473 ) Property and equipment, net $ 10,673 $ 13,707 |
Note 8 - Real Estate (Tables)
Note 8 - Real Estate (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | EDI Real Estate September 30, 2021 December 31, 2020 Units occupied or available for rent 1 4 Vacant lots held for investment 3 3 Total units held for investment 4 7 Units held for resale — — Vacant lots held for resale — — Total units held for resale — — |
Real Estate Properties, Disclosure [Table Text Block] | EDI Real Estate September 30, 2021 December 31, 2020 Total real estate held for investment $ 43,846 $ 303,158 Accumulated depreciation (16,512 ) (61,282 ) Real estate held for investment, net $ 27,334 $ 241,876 |
Note 9 - Notes Payable (Tables)
Note 9 - Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | Interest Rates Average Term September 30, 2021 December 31, 2020 Interest-bearing amount due on promissory note through EDI Real Estate, LLC 5.60% 15 years $ — $ 154,094 Interest-bearing amount due on real estate held for investment through EDI Real Estate, LLC 6.00% 5 years — 96,000 Less current portion — (5,609 ) Long-term portion $ — $ 244,485 |
Note 10 - Segment Information (
Note 10 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2021 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Three Months Ended September 30, 2021 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 806,314 $ 1,800 $ 218,097 $ — $ — $ 1,026,211 Cost of revenue — 466 61,863 — — 62,329 Operating expenses 113,158 15,202 54,905 477,234 — 660,499 Other income (expense) — (332 ) 19,930 14,248 — 33,846 Income tax benefit (expense) — — — (360,000 ) — (360,000 ) Income (loss) from continuing operations, net of taxes 693,156 (14,200 ) 121,259 (822,986 ) — (22,771 ) Income from discontinued operations, net of taxes — — — — — — Goodwill — — 212,445 — — 212,445 Identifiable assets $ 9,681,756 $ 43,558 $ 425,155 $ 9,332,415 $ — $ 19,482,884 Nine Months Ended September 30, 2021 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 4,556,173 $ 347,260 $ 674,282 $ — $ — $ 5,577,715 Cost of revenue — 244,319 203,855 — — 448,174 Operating expenses 343,808 39,936 151,791 925,832 — 1,461,367 Other income (expense) — 755,345 20,651 23,913 — 799,909 Income tax benefit (expense) — — — (360,000 ) — (360,000 ) Income (loss) from continuing operations, net of taxes 4,212,365 818,350 339,287 (1,261,919 ) — 4,108,083 Income from discontinued operations, net of taxes — — — — — — Goodwill — — 212,445 — — 212,445 Identifiable assets $ 9,681,756 $ 43,558 $ 425,155 $ 9,332,415 $ — $ 19,482,884 Three Months Ended September 30, 2020 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 1,607,150 $ 16,129 $ 242,237 $ — $ — $ 1,865,516 Cost of revenue — 12,157 85,412 — — 97,569 Operating expenses 120,368 5,940 49,239 165,165 — 340,712 Other income (expense) — (5,456 ) 777 6,540 — 1,861 Income (loss) from continuing operations, net of taxes 1,486,782 (7,424 ) 108,363 (158,625 ) — 1,429,096 Income from discontinued operations, net of taxes — — — — 1,857 1,857 Goodwill — — 212,445 — — 212,445 Identifiable assets $ 11,170,904 $ 452,357 $ 470,667 $ 331,834 $ 261 $ 12,426,023 Nine Months Ended September 30, 2020 Asset Management Real Estate Internet Other Discontinued Operations - Home Services Consolidated Revenues $ 1,130,815 $ 219,772 $ 741,011 $ — $ — $ 2,091,598 Cost of revenue — 151,480 251,829 — — 403,309 Operating expenses 323,351 23,651 143,521 658,989 — 1,149,512 Other income (expense) 2,283 (13,454 ) 3,900 13,982 — 6,711 Income (loss) from continuing operations, net of taxes 809,747 31,187 349,561 (645,007 ) — 545,488 Income from discontinued operations, net of taxes — — — — 15,762 15,762 Goodwill — — 212,445 — — 212,445 Identifiable assets $ 11,170,904 $ 452,357 $ 470,667 $ 331,834 $ 261 $ 12,426,023 |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Details Textual) | Jun. 27, 2019USD ($) | May 18, 2018USD ($) | Jun. 13, 2017USD ($) | Sep. 30, 2021USD ($) | Mar. 31, 2021shares | Jun. 30, 2018 | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Dec. 31, 2020 | Sep. 29, 2020 | Oct. 01, 2019 | Aug. 24, 2017USD ($) |
Number of Reportable Segments | 4 | 4 | ||||||||||
Proceeds from Sale of Equity Securities, FV-NI | $ 8,458,895 | $ 0 | ||||||||||
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance | $ 0 | |||||||||||
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% | |||||||||||
Equity Securities, Number of Shares Received in Lieu of Interest Accrued (in shares) | shares | 454,097 | |||||||||||
Willow Oak Asset Management LLC [Member] | Alluvial Fund, LP [Member] | ||||||||||||
Proceeds from Sale of Equity Securities, FV-NI | $ 0.50 | $ 5,579,679 | $ 14,038,574 | |||||||||
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% | |||||||||||
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) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021USD ($)shares | Sep. 30, 2020USD ($)shares | Sep. 30, 2021USD ($)shares | Sep. 30, 2020USD ($)shares | Dec. 31, 2020USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 423 | $ 423 | $ 421 | ||
Accounts Receivable, Credit Loss Expense (Reversal) | 59 | $ 58 | (8) | $ 322 | |
Goodwill, Impairment Loss | 0 | 0 | $ 0 | 0 | |
Number of Domain Names Owned | 225 | ||||
Number of Domain Names Available for Sale | 105 | ||||
Transfer of Real Estate Held for Investment to Held for Resale | 0 | 133,909 | $ 211,213 | 177,826 | |
Transfer of Real Estate Held for Sale to Held for Investment | 0 | 0 | 43,992 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements | 0 | 0 | 0 | 10,969 | |
Contract with Customer, Liability, Current | 198,199 | 198,199 | $ 192,088 | ||
Contract with Customer, Liability, Revenue Recognized | 15,412 | 21,733 | 173,292 | 193,408 | |
Income Tax Expense (Benefit), Total | $ 360,000 | $ 0 | $ 360,000 | $ 0 | |
Incremental Common Shares Attributable to Share-based Payment Arrangements, Total (in shares) | shares | 0 | 668 | 668 | 668 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Contract Assets (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Accounts receivable, net | $ 302,548 | $ 144,791 |
Fee Share Arrangements [Member] | ||
Accounts receivable, net | 265,819 | |
Operating Accounts Receivable [Member] | ||
Accounts receivable, net | $ 36,729 |
Note 2 - Summary of Significa_5
Note 2 - Summary of Significant Accounting Policies - Property and Equipment Useful Life (Details) | 9 Months Ended |
Sep. 30, 2021 | |
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 6 months |
Note 2 - Summary of Significa_6
Note 2 - Summary of Significant Accounting Policies - Revenue From Asset Management Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Investment Performance [Member] | ||||
Asset management operations revenue | $ 829,579 | $ 1,545,239 | $ 4,167,650 | $ 989,609 |
Management and Performance Fee Revenue [Member] | ||||
Asset management operations revenue | (44,539) | 37,858 | 325,815 | 69,153 |
Fund Management Services Revenue [Member] | ||||
Asset management operations revenue | 21,274 | 24,053 | 62,708 | 72,053 |
Asset Management [Member] | ||||
Asset management operations revenue | $ 806,314 | $ 1,607,150 | $ 4,556,173 | $ 1,130,815 |
Note 3 - Historical Home Serv_3
Note 3 - Historical Home Services Subsidiary Asset Sale (Details Textual) - USD ($) | May 24, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 |
Income (Loss) from Discontinued Operations, Net of Tax, Offsetting Amount from Probable Royalties | $ 1,887 | $ 18,143 | ||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | $ 0 | $ 1,857 | $ 0 | $ 15,762 | ||
Disposal Group, Including Discontinued Operation, Assets, Current, Total | 0 | 0 | $ 231 | |||
Disposal Group, Including Discontinued Operation, Liabilities, Current, Total | $ 0 | $ 0 | $ 0 | |||
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 Operations (Details) - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Gain (Loss) on Disposition of Assets, Total | $ 0 | $ 0 | $ 778,872 | $ 0 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | 1,857 | 0 | 15,762 |
Discontinued Operations, Held-for-sale [Member] | ||||
Revenues | 0 | 0 | 0 | 0 |
Cost of revenues | 0 | 0 | 0 | 0 |
Gross profit | 0 | 0 | 0 | 0 |
Selling, general, and administrative expenses | 0 | 30 | 0 | 2,381 |
Gain (Loss) on Disposition of Assets, Total | 0 | 1,887 | 0 | 18,143 |
Other income (expense), net | 0 | 0 | 0 | 0 |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | $ 0 | $ 1,857 | $ 0 | $ 15,762 |
Note 4 - Historical Sale of C_2
Note 4 - Historical Sale of Controlling Interest in Real Estate Subsidiary (Details Textual) - USD ($) | May 17, 2021 | Jun. 27, 2019 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Proceeds from Divestiture of Businesses and Interests in Affiliates, Total | $ 850,000 | $ 0 | ||||
Gain (Loss) on Disposition of Assets, Total | $ 0 | $ 0 | 778,872 | $ 0 | ||
Mt. Melrose LLC [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||
Gain (Loss) on Disposition of Assets, Total | $ 778,872 | |||||
Woodmont [Member] | Mt. Melrose LLC [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | ||||||
Proceeds from Divestiture of Businesses and Interests in Affiliates, Total | $ 850,000 | |||||
Mt. Melrose LLC [Member] | ||||||
Equity Method Investment, Ownership Percentage | 35.00% | 0.00% | 0.00% | |||
Equity Method Investment, Underlying Equity in Net Assets | $ 53,846 | |||||
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 ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Proceeds from Sale of Equity Securities, FV-NI | $ 8,458,895 | $ 0 | ||
Alluvial Fund, LP [Member] | ||||
Proceeds from Sale of Equity Securities, FV-NI | $ 5,579,679 | $ 0 | 14,038,574 | 0 |
Investment Income, Reinvested Amount | $ 3,354 | $ 4,304 | $ 72,367 | $ 16,587 |
Note 5 - Investments - Summary
Note 5 - Investments - Summary of Investments (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Cost Basis | $ 1,476,549 | $ 7,118,604 |
Accrued Fees | 2,289,285 | 6,455,858 |
Unrealized Gain | 3,765,834 | 13,574,462 |
Alluvial Fund, LP [Member] | ||
Cost Basis | 1,431,139 | 7,064,758 |
Accrued Fees | 2,289,285 | 6,455,858 |
Unrealized Gain | 3,720,424 | 13,520,616 |
Mt. Melrose LLC [Member] | ||
Cost Basis | 53,846 | |
Accrued Fees | 0 | |
Unrealized Gain | $ 53,846 | |
Triad Guaranty, Inc. [Member] | ||
Cost Basis | 45,410 | |
Accrued Fees | 0 | |
Unrealized Gain | $ 45,410 |
Note 6 - Fair Value of Assets_3
Note 6 - Fair Value of Assets and Liabilities (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | $ 0 | $ 0 |
Mt. Melrose LLC [Member] | ||||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | 0 | 0 | 0 | 0 |
Triad Guaranty, Inc. [Member] | ||||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | 0 | 0 | ||
Real Estate, Held For Sale [Member] | ||||
Impairment of Real Estate | $ 0 | $ 0 | $ 0 | $ 0 |
Note 6 - Fair Value of Assets_4
Note 6 - Fair Value of Assets and Liabilities - Schedule of Marketable Securities at Fair Value (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 | |
Fair Value | $ 3,720,424 | $ 13,520,616 | |
Alluvial Fund, LP [Member] | |||
Fair Value | 3,720,424 | 13,520,616 | |
Fair Value, Inputs, Level 1 [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 1 [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Fair Value | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | 0 | 0 | |
Fair Value Measured at Net Asset Value Per Share [Member] | |||
Fair Value | [1] | 3,720,424 | 13,520,616 |
Fair Value Measured at Net Asset Value Per Share [Member] | Alluvial Fund, LP [Member] | |||
Fair Value | [1] | $ 3,720,424 | $ 13,520,616 |
[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 ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | |
Depreciation, Total | $ 1,012 | $ 1,012 | $ 3,034 | $ 3,034 |
Note 7 - Property and Equipme_4
Note 7 - Property and Equipment - Schedule of Cost of Property and Equipment (Details) - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Property and equipment, gross | $ 28,180 | $ 28,180 |
Less accumulated depreciation | (17,507) | (14,473) |
Property and equipment, net | 10,673 | 13,707 |
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) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | |
Depreciation, Total | $ 1,012 | $ 1,012 | $ 3,034 | $ 3,034 |
Proceeds from Sale of Real Estate Held-for-investment, Total | 332,000 | 172,000 | ||
Gains (Losses) on Sales of Investment Real Estate | 120,787 | 73,165 | ||
Real Estate, Held For Sale [Member] | ||||
Impairment of Real Estate | 0 | 0 | 0 | 0 |
EDI Real Estate, LLC [Member] | ||||
Depreciation, Total | 397 | $ 4,431 | 3,329 | $ 12,861 |
Proceeds from Sale of Real Estate Held-for-investment, Total | 332,000 | |||
Proceeds from Sale of Real Estate Held-for-investment, Net | 75,395 | |||
Real Estate Investment Property, Net, Total | $ 211,213 | 211,213 | ||
Gains (Losses) on Sales of Investment Real Estate | $ 120,787 | |||
Number of Real Estate Properties Sold | 0 | 0 | ||
Number of Real Estate Properties Acquired | 0 | 0 | ||
Impairment of Real Estate | $ 0 | $ 0 | $ 0 | $ 0 |
EDI Real Estate, LLC [Member] | Real Estate, Held For Sale [Member] | ||||
Proceeds from Sale of Real Estate Held-for-investment, Total | 172,000 | |||
Proceeds from Sale of Real Estate Held-for-investment, Net | 34,749 | |||
Real Estate Investment Property, Net, Total | $ 98,835 | 98,835 | ||
Gains (Losses) on Sales of Investment Real Estate | $ 73,165 | |||
Number of Real Estate Properties Sold | 2 |
Note 8 - Real Estate - Portfoli
Note 8 - Real Estate - Portfolio of Properties in Units (Details) - EDI Real Estate, LLC [Member] | Sep. 30, 2021 | Dec. 31, 2020 |
Real Estate Occupied or Available to Rent, Held For Investment [Member] | ||
Number of Real Estate Properties | 1 | 4 |
Vacant Real Estate Being Prepared or to Be Prepared to Market to Tenants, Held For Investment [Member] | ||
Number of Real Estate Properties | 3 | 3 |
Real Estate Held for Investment [Member] | ||
Number of Real Estate Properties | 4 | 7 |
Real Estate, Units Held For Sale [Member] | ||
Number of Real Estate Properties | 0 | 0 |
Real Estate Held For Sale, Vacant Lots [Member] | ||
Number of Real Estate Properties | 0 | 0 |
Real Estate, Held For Sale [Member] | ||
Number of Real Estate Properties | 0 | 0 |
Note 8 - Real Estate - Schedule
Note 8 - Real Estate - Schedule of Carrying Amount of Real Estate Properties (Details) - EDI Real Estate, LLC [Member] - USD ($) | Sep. 30, 2021 | Dec. 31, 2020 |
Real estate held for investment, net | $ 211,213 | |
Real Estate Held for Investment [Member] | ||
Total real estate held for investment | 43,846 | $ 303,158 |
Accumulated depreciation, held for investment | (16,512) | (61,282) |
Real estate held for investment, net | $ 27,334 | $ 241,876 |
Note 9 - Notes Payable (Details
Note 9 - Notes Payable (Details Textual) - EDI Real Estate, LLC [Member] - Real Estate Held for Investment [Member] | Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 |
Promissory Notes due September 1, 2033 [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 5.60% | 5.60% | |
Debt Instrument, Maturity Date | Sep. 1, 2033 | ||
Debt Instrument Rate, Subject to Change, Term (Year) | 5 years | ||
US Treasury Security, Term (Year) | 5 years | ||
Promissory Notes due September 1, 2033 [Member] | Index Rate [Member] | |||
Debt Instrument, Basis Spread on Variable Rate | 2.75% | ||
Promissory Notes due September 15, 2022 [Member] | |||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | ||
Debt Instrument, Maturity Date | Sep. 15, 2022 |
Note 9 - Notes Payable - Summar
Note 9 - Notes Payable - Summary of Notes Payable (Details) - USD ($) | 9 Months Ended | |
Sep. 30, 2021 | Dec. 31, 2020 | |
Less current portion | $ 0 | $ (5,609) |
Long-term portion | $ 0 | 244,485 |
Interest Bearing Notes Payable [Member] | EDI Real Estate, LLC [Member] | ||
Notes payable, interest rate | 5.60% | |
Notes payable, term (Year) | 15 years | |
Notes payable | $ 0 | 154,094 |
Notes payable | $ 0 | 154,094 |
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 | $ 0 | 96,000 |
Notes payable | $ 0 | $ 96,000 |
Note 10 - Segment Information_2
Note 10 - Segment Information (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | Jun. 30, 2019 | Sep. 30, 2021USD ($) | Sep. 30, 2020USD ($) | |
Number of Operating Segments | 4 | 5 | 4 | ||
Internet Operations [Member] | UNITED STATES | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 207,678 | $ 230,714 | $ 640,470 | $ 703,335 | |
Internet Operations [Member] | CANADA | |||||
Revenue from Contract with Customer, Including Assessed Tax | $ 10,419 | $ 11,523 | $ 33,812 | $ 37,676 |
Note 10 - Segment Information -
Note 10 - Segment Information - Summary of Financial Information Concerning Company's Reportable Segments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 | Dec. 31, 2020 | |
Revenues | $ 1,026,211 | $ 1,865,516 | $ 5,577,715 | $ 2,091,598 | |
Cost of revenue | 62,329 | 97,569 | 448,174 | 403,309 | |
Operating expenses | 660,499 | 340,712 | 1,461,367 | 1,149,512 | |
Other income (expense) | 33,846 | 1,861 | 799,909 | 6,711 | |
Income tax benefit (expense) | (360,000) | 0 | (360,000) | 0 | |
Income (loss) from continuing operations, net of taxes | (22,771) | 1,429,096 | 4,108,083 | 545,488 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | 1,857 | 0 | 15,762 | |
Goodwill | 212,445 | 212,445 | 212,445 | 212,445 | $ 212,445 |
Identifiable assets | 19,482,884 | 12,426,023 | 19,482,884 | 12,426,023 | $ 14,857,180 |
Net income from continuing operations | (22,771) | 1,429,096 | 4,108,083 | 545,488 | |
Income from discontinued operations, net of taxes | 0 | 1,857 | 0 | 15,762 | |
Product and Service, Other [Member] | |||||
Revenues | 0 | ||||
Cost of revenue | 0 | ||||
Operating expenses | 658,989 | ||||
Other income (expense) | 13,982 | ||||
Income (loss) from continuing operations, net of taxes | (645,007) | ||||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | ||||
Goodwill | 0 | 0 | |||
Identifiable assets | 331,834 | 331,834 | |||
Net income from continuing operations | (645,007) | ||||
Income from discontinued operations, net of taxes | 0 | ||||
Asset Management Segment [Member] | |||||
Revenues | 806,314 | 1,607,150 | 4,556,173 | 1,130,815 | |
Cost of revenue | 0 | 0 | 0 | 0 | |
Operating expenses | 113,158 | 120,368 | 343,808 | 323,351 | |
Other income (expense) | 0 | 0 | 0 | 2,283 | |
Income tax benefit (expense) | 0 | 0 | |||
Income (loss) from continuing operations, net of taxes | 693,156 | 1,486,782 | 4,212,365 | 809,747 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | 0 | 0 | 0 | |
Goodwill | 0 | 0 | 0 | 0 | |
Identifiable assets | 9,681,756 | 11,170,904 | 9,681,756 | 11,170,904 | |
Net income from continuing operations | 693,156 | 1,486,782 | 4,212,365 | 809,747 | |
Income from discontinued operations, net of taxes | 0 | 0 | 0 | 0 | |
Real Estate Segment [Member] | |||||
Revenues | 1,800 | 16,129 | 347,260 | 219,772 | |
Cost of revenue | 466 | 12,157 | 244,319 | 151,480 | |
Operating expenses | 15,202 | 5,940 | 39,936 | 23,651 | |
Other income (expense) | (332) | (5,456) | 755,345 | (13,454) | |
Income tax benefit (expense) | 0 | 0 | |||
Income (loss) from continuing operations, net of taxes | (14,200) | (7,424) | 818,350 | 31,187 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | 0 | 0 | 0 | |
Goodwill | 0 | 0 | 0 | 0 | |
Identifiable assets | 43,558 | 452,357 | 43,558 | 452,357 | |
Net income from continuing operations | (14,200) | (7,424) | 818,350 | 31,187 | |
Income from discontinued operations, net of taxes | 0 | 0 | 0 | 0 | |
Internet Operations [Member] | |||||
Revenues | 218,097 | 242,237 | 674,282 | 741,011 | |
Cost of revenue | 61,863 | 85,412 | 203,855 | 251,829 | |
Operating expenses | 54,905 | 49,239 | 151,791 | 143,521 | |
Other income (expense) | 19,930 | 777 | 20,651 | 3,900 | |
Income tax benefit (expense) | 0 | 0 | |||
Income (loss) from continuing operations, net of taxes | 121,259 | 108,363 | 339,287 | 349,561 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | 0 | 0 | 0 | |
Goodwill | 212,445 | 212,445 | 212,445 | 212,445 | |
Identifiable assets | 425,155 | 470,667 | 425,155 | 470,667 | |
Net income from continuing operations | 121,259 | 108,363 | 339,287 | 349,561 | |
Income from discontinued operations, net of taxes | 0 | 0 | 0 | 0 | |
Other Segments [Member] | |||||
Revenues | 0 | 0 | 0 | ||
Cost of revenue | 0 | 0 | 0 | ||
Operating expenses | 477,234 | 165,165 | 925,832 | ||
Other income (expense) | 14,248 | 6,540 | 23,913 | ||
Income tax benefit (expense) | (360,000) | (360,000) | |||
Income (loss) from continuing operations, net of taxes | (822,986) | (158,625) | (1,261,919) | ||
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | 0 | 0 | ||
Goodwill | 0 | 0 | 0 | 0 | |
Identifiable assets | 9,332,415 | 331,834 | 9,332,415 | 331,834 | |
Net income from continuing operations | (822,986) | (158,625) | (1,261,919) | ||
Income from discontinued operations, net of taxes | 0 | 0 | 0 | ||
Home Service [Member] | Discontinued Operations [Member] | |||||
Revenues | 0 | 0 | 0 | 0 | |
Cost of revenue | 0 | 0 | 0 | 0 | |
Operating expenses | 0 | 0 | 0 | 0 | |
Other income (expense) | 0 | 0 | 0 | 0 | |
Income tax benefit (expense) | 0 | 0 | |||
Income (loss) from continuing operations, net of taxes | 0 | 0 | 0 | 0 | |
Income (Loss) from Discontinued Operations, Net of Tax, Including Portion Attributable to Noncontrolling Interest, Total | 0 | 1,857 | 0 | 15,762 | |
Goodwill | 0 | 0 | 0 | 0 | |
Identifiable assets | 0 | 261 | 0 | 261 | |
Net income from continuing operations | 0 | 0 | 0 | 0 | |
Income from discontinued operations, net of taxes | $ 0 | $ 1,857 | $ 0 | $ 15,762 |
Note 11 - Commitments and Con_2
Note 11 - Commitments and Contingencies (Details Textual) - USD ($) | May 17, 2021 | Jun. 27, 2019 | Apr. 12, 2016 | Sep. 30, 2021 | Sep. 30, 2020 | Sep. 30, 2021 | Sep. 30, 2020 |
Operating Lease, Expense | $ 5,250 | $ 0 | $ 15,750 | $ 13,434 | |||
Operating Lease, Cost | $ 0 | $ 15,149 | 0 | 59,492 | |||
Proceeds from Divestiture of Businesses and Interests in Affiliates, Total | $ 850,000 | $ 0 | |||||
Woodmont [Member] | Mt. Melrose LLC [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member] | |||||||
Proceeds from Divestiture of Businesses and Interests in Affiliates, Total | $ 850,000 | ||||||
Mt. Melrose LLC [Member] | Woodmont [Member] | |||||||
Ownership Interest, Sold, Percent | 65.00% | ||||||
Civil Action Complaint Against Frank Erhartic, Jr. [Member] | |||||||
Loss Contingency, Damages Sought, Value | $ 350,000 |
Note 12 - Stockholders' Equity
Note 12 - Stockholders' Equity (Details Textual) - $ / shares | Sep. 30, 2021 | Jun. 16, 2021 | Jun. 15, 2021 | Dec. 31, 2020 | Jul. 24, 2020 |
Preferred Stock and Common Stock, Shares Authorized (in shares) | 40,000,000 | ||||
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) | 10,000,000 | 10,000,000 | 2,800,000 | 2,800,000 | |
Common Stock, Par or Stated Value Per Share (in dollars per share) | $ 0.125 | $ 0.125 | $ 0.125 | ||
Common Stock, Shares, Issued, Total (in shares) | 2,647,383 | 2,602,240 | |||
Common Stock, Shares, Outstanding, Ending Balance (in shares) | 2,647,383 | 2,602,240 | |||
Series A Preferred Stock [Member] | |||||
Preferred Stock, Shares Authorized (in shares) | 250,000 |