Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2022 | May 11, 2022 | |
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 | Q1 | |
Document Fiscal Year Focus | 2022 | |
Document Type | 10-Q | |
Document Quarterly Report | true | |
Document Period End Date | Mar. 31, 2022 | |
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 | |
Title of 12(g) Security | Common Stock, $0.125 par value | |
Entity Common Stock, Shares Outstanding | 2,647,383 |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Current Assets | ||
Cash and cash equivalents | $ 15,020,160 | $ 13,487,482 |
Accounts receivable, net | 39,454 | 351,405 |
Investment redemption receivable | 2,053,587 | 3,734,465 |
Other current assets | 15,387 | 6,417 |
Total current assets | 17,128,588 | 17,579,769 |
Long-term Assets | ||
Property and equipment, net | 8,650 | 9,661 |
Notes receivable | 50,000 | 50,000 |
Goodwill, net | 212,445 | 212,445 |
Real estate - held for investment, net | 0 | 26,911 |
Other assets | 60,049 | 61,972 |
Total long-term assets | 331,144 | 360,989 |
Total assets | 17,459,732 | 17,940,758 |
Current Liabilities | ||
Accounts payable | 16,366 | 11,474 |
Accrued compensation | 37,759 | 337,759 |
Accrued expenses | 834,636 | 308,039 |
Deferred revenue | 191,501 | 171,194 |
Income taxes payable | 6,532 | 6,532 |
Total current liabilities | 1,086,794 | 834,998 |
Total liabilities | 1,086,794 | 834,998 |
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 shares authorized; 2,647,383 shares issued and outstanding | 330,922 | 330,922 |
Additional paid-in capital | 27,673,692 | 27,673,692 |
Accumulated deficit | (11,631,676) | (10,898,854) |
Total stockholders’ equity | 16,372,938 | 17,105,760 |
Total liabilities and stockholders’ equity | $ 17,459,732 | $ 17,940,758 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Mar. 31, 2022 | Dec. 31, 2021 |
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 | 10,000,000 |
Common stock, shares issued (in shares) | 2,647,383 | 2,647,383 |
Common stock, shares outstanding (in shares) | 2,647,383 | 2,647,383 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements of Operations - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenues | $ 256,975 | $ 2,435,856 |
Cost of revenues | 71,639 | 79,607 |
Total gross profit (loss) | 185,336 | 2,356,249 |
Selling, general, and administrative expenses | ||
Insurance | 19,787 | 6,603 |
Professional fees | 744,853 | 143,505 |
Salaries and wages | 156,847 | 182,954 |
Travel and meals | 12,046 | 351 |
Other operating expenses | 50,713 | 44,577 |
Total selling, general and administrative expenses | 984,246 | 377,990 |
Income (loss) from operations | (798,910) | 1,978,259 |
Gain on sale of real estate | 43,140 | |
Interest expense | (4,795) | |
Other income, net | 22,948 | 5,185 |
Total other income (loss) | 66,088 | 390 |
Income (loss) from operations before income taxes | (732,822) | 1,978,649 |
Net income (loss) | $ (732,822) | $ 1,978,649 |
Net income (loss) per share, basic and diluted (in dollars per share) | $ (0.28) | $ 0.75 |
Weighted average number of shares, basic (in shares) | 2,647,383 | 2,630,831 |
Weighted average number of shares, diluted (in shares) | 2,647,383 | 2,631,499 |
Asset Management [Member] | ||
Revenues | $ 38,495 | $ 2,193,854 |
Cost of revenues | 0 | 0 |
Total gross profit (loss) | 38,495 | 2,193,854 |
Selling, general, and administrative expenses | ||
Total other income (loss) | (173) | 0 |
Income (loss) from operations before income taxes | (81,095) | 2,076,143 |
Real Estate [Member] | ||
Revenues | 1,800 | 9,736 |
Cost of revenues | 445 | 7,644 |
Total gross profit (loss) | 1,355 | 2,092 |
Selling, general, and administrative expenses | ||
Total other income (loss) | 43,390 | (4,795) |
Income (loss) from operations before income taxes | (9,188) | |
Internet Operations [Member] | ||
Revenues | 216,680 | 232,266 |
Cost of revenues | 71,194 | 71,963 |
Total gross profit (loss) | 145,486 | 160,303 |
Selling, general, and administrative expenses | ||
Total other income (loss) | $ 1,408 | 361 |
Income (loss) from operations before income taxes | $ 114,123 |
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, 2020 | 2,602,240 | |||
Balance at Dec. 31, 2020 | $ 325,280 | $ 27,439,334 | $ (13,721,203) | $ 14,043,411 |
Net income (loss) from operations | $ 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, 2021 | 2,647,383 | |||
Balance at Dec. 31, 2021 | $ 330,922 | 27,673,692 | (10,898,854) | 17,105,760 |
Net income (loss) from operations | $ 0 | 0 | (732,822) | (732,822) |
Balance (in shares) at Mar. 31, 2022 | 2,647,383 | |||
Balance at Mar. 31, 2022 | $ 330,922 | $ 27,673,692 | $ (11,631,676) | $ 16,372,938 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Cash flows from operating activities: | ||
Net income (loss) from operations | $ (732,822) | $ 1,978,649 |
Adjustments to reconcile net income (loss) to net cash flows from operating activities: | ||
Unrealized gains on long-term investments | (2,053,384) | |
Accrued stock compensation expense | 37,500 | |
Gain on sale of real estate | (43,140) | |
Bad debt expense | 6,832 | 89 |
Depreciation and amortization | 3,332 | 3,563 |
Accrued interest income on notes receivable | (4,650) | |
Other | 720 | |
(Increase) decrease in: | ||
Investment redemption receivable | 1,680,208 | |
Accounts receivable, net | 305,119 | 14,547 |
Other current assets | (8,970) | 4,772 |
Increase (decrease) in: | ||
Accounts payable | 4,892 | (4,790) |
Accrued expenses | 226,597 | 34,240 |
Deferred revenue | 20,307 | 6,760 |
Net cash flows from operating activities | 1,463,075 | 17,527 |
Cash flows from (used in) investing activities: | ||
Proceeds from sale of real estate | 69,603 | |
Purchases of investments | (62,978) | |
Net cash flows from (used in) investing activities | 69,603 | (62,978) |
Cash flows used in financing activities: | ||
Principal payments on note payable | (2,789) | |
Net cash flows used in financing activities | (2,789) | |
Net increase (decrease) in cash | 1,532,678 | (48,240) |
Cash and cash equivalents at beginning of the period | 13,487,482 | 341,007 |
Cash and cash equivalents at end of the period | 15,020,160 | 292,767 |
Non-cash and other supplemental information: | ||
Consulting services received in lieu of cash receipts | 12,750 | 12,750 |
Issuance of common stock per equity compensation plan | 0 | 240,000 |
Transfer of real estate held for investment to held for resale | 0 | 169,181 |
Accrued interest receivable converted to common stock | 0 | 45,410 |
Cash paid for interest | $ 0 | $ 4,795 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
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 March 31, 2022, four one not one Asset Management Operations The Company operates its asset management operations business through its wholly-owned subsidiaries, Willow Oak Asset Management, LLC (“Willow Oak”) and Willow Oak Capital Management, LLC. Willow Oak is an asset management platform focused on growing and enhancing the alternative investment landscape. Willow Oak seeks partnerships with alternative investment managers in the early stages of growth in order to build a network of unique investment opportunities for investors and scalable, professional operations for managers. Willow Oak offers affiliated managers strategic consulting, operational support, and growth opportunities through minority partnerships and other bespoke relationships. Affiliations to date include fund reinvestments, fund launching, investor relations, and fund management administrative support. The Company intends to actively expand its Willow Oak platform with additional offerings that enhance the value of the Willow Oak platform to managers and funds across the investing community. In 2016, January 1, 2017, May 31, 2021, December 31, 2021, third three March 31, 2022, December 31, 2021, March 31, 2022, no December 31, 2021, not not three March 31, 2022. In August 2020, two Real Estate Operations As has been previously reported, in December 2017, December 2017 January June 2018, two June 27, 2019, no June 27, 2019. 8 May 20, 2021, May 17, 2021, June 30, 2021, not 3 8 As has been previously reported, in July 2017, three March 31, 2022, no March 31, 2022, two 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. On December 27, 2021, December 31, 2020, December 27, 2021, December 31, 2021, December 27, 2021, December 31, 2021, March 31, 2022, no 4 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 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 | 3 Months Ended |
Mar. 31, 2022 | |
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, 2021, not 10 December 31, 2021. March 31, 2022, three March 31, 2022 2021. 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 can hold various investments through its asset management operations and real estate operations segments. Additionally, investments may not not not not 4 Accounts Receivable The Company 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. The Company’s asset management operations segment records receivable amounts for management fee shares and fund management services revenue earned on a monthly basis. Management fee shares and fund management services fees are calculated and collected on either a monthly or quarterly basis as dictated by the respective partnership agreement. The Company historically has had no not The Company’s asset management operations segment also records receivable amounts for performance fee shares earned on an annual basis. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. The Company historically has had no not Real estate operations segment rental accounts were 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 March 31, 2022, December 31, 2021, March 31, 2022, 2021, 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 three March 31, 2022, 2021. Intangible assets (other than goodwill) consist of domain names attributed to the internet operations segment. The Company owns 236 domain names, of which 108 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 impairment adjustments were recorded during the three March 31, 2022, 2021. Amortization expense on domain names used for internet operations during the three March 31, 2022 no three March 31, 2021. 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 impairment adjustments were recorded during the three March 31, 2022, 2021. 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 March 31, 2021, No three March 31, 2022, 2021. 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 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 Management fee shares and fund management services fees are earned and recorded on a monthly basis and are included in revenue on the accompanying unaudited consolidated statements of operations. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. Performance fee shares are recognized only when it is determined that there is no may Long-term investments are marked to market at the end of each reporting period. Realized and unrealized gains and losses are recognized in the period of adjustment. During periods prior to the Company’s final liquidating withdrawal from Alluvial Fund on December 31, 2021, may Management notes that the structure of these arrangements leaves a very low possibility for nonperformance. While the amount of revenue can vary from month to month, collectability is very high. No A summary of revenue earned through asset management operations for the three March 31, 2022, 2021 Asset Management Operations Revenue Quarterly Period Ended March 31, 2022 Quarterly Period Ended March 31, 2021 Unrealized gains on investment activity $ — $ 2,054,471 Performance fee revenue — 99,579 Management fee revenue 16,745 19,264 Fund management services revenue 21,750 20,540 Total revenue $ 38,495 $ 2,193,854 Real Estate Revenue Prior to the sale of its sole remaining residential rental property during the three March 31, 2022, Rental revenue from real estate held for investment was recognized when it was earned, generally on the last day of each month or at another regular period agreed upon by the Company and the tenant. Tenants generally provided a security deposit at the time of possession. This deposit was held separately from revenue and only applied to revenue when rental payment comparable to the security deposit amount was not No Revenue from real estate held for resale was recognized upon closing of the sale (transfer of control), as all conditions for full revenue recognition were met at that time. All costs associated with the property sold were removed from the consolidated balance sheets and were charged to cost of revenue at that time. Internet Revenue The Company sells internet and email 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 internet services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue increased from $171,194 at December 31, 2021, March 31, 2022. three March 31, 2022, 2021, 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, 2021, December 31, 2020, December 31, 2019, During the three March 31, 2022 2021, not three not 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” is 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 three March 31, 2022. three March 31, 2021, None three March 31, 2021 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 In October 2021, 2021 08, 805 no 606 606 December 15, 2022 December 31, 2021. not The Company does not not |
Note 3 - Historical Sale of Rem
Note 3 - Historical Sale of Remaining Interest in Real Estate Subsidiary | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block] | NOTE 3. As has been previously reported, on June 27, 2019, third However, as has been previously reported, on May 17, 2021, June 30, 2021, December 31, 2021, not June 30, 2021, May 17, 2021, June 30, 2021. May 17, 2021 |
Note 4 - Fair Value of Assets a
Note 4 - Fair Value of Assets and Liabilities | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 4. 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 does not March 31, 2022, December 31, 2021. 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 impairments were recorded during the three March 31, 2022, 2021. 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 March 31, 2022, 2021. As discussed previously, the Company holds common stock in Triad Guaranty, Inc. This stock was received in accordance with the December 31, 2020 December 31, 2020. December 27, 2021, December 31, 2021, December 31, 2021, December 31, 2021, March 31, 2022, |
Note 5 - Property and Equipment
Note 5 - Property and Equipment | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5. The cost of property and equipment at March 31, 2022, December 31, 2021, March 31, 2022 December 31, 2021 Computers and equipment $ 17,330 $ 17,330 Furniture and fixtures 10,850 10,850 28,180 28,180 Less accumulated depreciation (19,530 ) (18,519 ) Property and equipment, net $ 8,650 $ 9,661 Depreciation expense was $1,012 for both three March 31, 2022 2021. |
Note 6 - Real Estate
Note 6 - Real Estate | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | NOTE 6. EDI Real Estate, LLC Through EDI Real Estate, as of March 31, 2022, December 31, 2021, EDI Real Estate March 31, 2022 December 31, 2021 Units occupied or available for rent 0 1 Vacant lots held for investment 2 2 Total units held for investment 2 3 As of March 31, 2022, not The unit held for investment as of December 31, 2021, three March 31, 2022. The lease in effect as of December 31, 2021, three March 31, 2022, no EDI Real Estate March 31, 2022 December 31, 2021 Total real estate held for investment $ — $ 43,821 Accumulated depreciation — (16,910 ) Real estate held for investment, net $ — $ 26,911 For the three March 31, 2022 2021, EDI Real Estate’s sole remaining residential property was sold during the three March 31, 2022. no three March 31, 2021. three March 31, 2022 2021. No impairment adjustments were recorded on the EDI Real Estate portfolio during the three March 31, 2022, 2021. |
Note 7 - Segment Information
Note 7 - Segment Information | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 7. During the three March 31, 2022, four four 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) 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, and (ii) 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 March 31, 2022 2021, March 31, 2022 2021, 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 March 31, 2022, 2021. Quarterly Period Ended March 31, 2022 Asset Management Real Estate Internet Other Consolidated Revenues $ 38,495 $ 1,800 $ 216,680 $ — $ 256,975 Cost of revenue — 445 71,194 — 71,639 Operating expenses 119,417 209 49,844 814,776 984,246 Other income (expense) (173 ) 43,390 1,408 21,463 66,088 Income (loss) from operations (81,095 ) 44,536 97,050 (793,313 ) (732,822 ) Goodwill — — 212,445 — 212,445 Identifiable assets $ 2,422,054 $ 19,738 $ 431,742 $ 14,586,198 $ 17,459,732 Quarterly Period Ended March 31, 2021 Asset Management Real Estate Internet Other Consolidated Revenues $ 2,193,854 $ 9,736 $ 232,266 $ — $ 2,435,856 Cost of revenue — 7,644 71,963 — 79,607 Operating expenses 117,711 6,485 46,541 207,253 377,990 Other income (expense) — (4,795 ) 361 4,824 390 Income (loss) from operations 2,076,143 (9,188 ) 114,123 (202,429 ) 1,978,649 Goodwill — — 212,445 — 212,445 Identifiable assets $ 15,820,688 $ 312,819 $ 433,317 $ 339,926 $ 16,906,750 |
Note 8 - Commitments and Contin
Note 8 - Commitments and Contingencies | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Commitments and Contingencies Disclosure [Text Block] | NOTE 8. Leases As of March 31, 2022, December 31, 2021, no The previous lease for office space for Willow Oak Asset Management, LLC expired on September 30, 2020, October 1, 2020. not three March 31, 2022 2021, There are no three March 31, 2022 2021. As the Company has no March 31, 2022 December 31, 2021, no Other Commitments Agreement and Plan of Merger with CrossingBridge Advisors, LLC, et al As has been previously reported, on December 29, 2021, two first second 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 November 2022. March 31, 2022, Other: Mt Melrose-related Proceedings As has been previously reported, various disputes had arisen between the Company and Woodmont Lexington, LLC (“Woodmont”), the entity to whom the Company previously sold, on June 27, 2019, 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. |
Note 9 - Stockholders' Equity
Note 9 - Stockholders' Equity | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Stockholders' Equity Note Disclosure [Text Block] | NOTE 9. EQUITY Classes of Shares As of March 31, 2022, 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 March 31, 2022, not As previously reported in the Company’s Current Report on Form 8 July 29, 2020, July 24, 2020, July 24, 2020, However, subsequent to the quarterly period ended March 31, 2022, 8 April 6, 2022, April 1, 2022. April 5, 2022, Common Stock As of March 31, 2022, As previously reported in the Company’s Current Report on Form 8 No. 1 July 8, 2021, June 16, 2021, |
Note 10 - Subsequent Events
Note 10 - Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 10. Subsequent to the quarterly period ended March 31, 2022, 8 April 6, 2022, April 1, 2022. April 5, 2022, 9 On April 5, 2022, April 5, 2022, no Management has evaluated all other subsequent events from March 31, 2022, May 13, 2022, no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 3 Months Ended |
Mar. 31, 2022 | |
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, 2021, not 10 December 31, 2021. March 31, 2022, three March 31, 2022 2021. |
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 |
Investment, Policy [Policy Text Block] | Investments The Company can hold various investments through its asset management operations and real estate operations segments. Additionally, investments may not not not not 4 |
Accounts Receivable [Policy Text Block] | Accounts Receivable The Company 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. The Company’s asset management operations segment records receivable amounts for management fee shares and fund management services revenue earned on a monthly basis. Management fee shares and fund management services fees are calculated and collected on either a monthly or quarterly basis as dictated by the respective partnership agreement. The Company historically has had no not The Company’s asset management operations segment also records receivable amounts for performance fee shares earned on an annual basis. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. The Company historically has had no not Real estate operations segment rental accounts were 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 March 31, 2022, December 31, 2021, March 31, 2022, 2021, |
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 three March 31, 2022, 2021. Intangible assets (other than goodwill) consist of domain names attributed to the internet operations segment. The Company owns 236 domain names, of which 108 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 impairment adjustments were recorded during the three March 31, 2022, 2021. Amortization expense on domain names used for internet operations during the three March 31, 2022 no three March 31, 2021. |
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 impairment adjustments were recorded during the three March 31, 2022, 2021. 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 March 31, 2021, No three March 31, 2022, 2021. |
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 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 Management fee shares and fund management services fees are earned and recorded on a monthly basis and are included in revenue on the accompanying unaudited consolidated statements of operations. Performance fee shares are dependent upon exceeding specified relative or absolute investment return thresholds, which vary by affiliate relationship, and typically include annual measurement periods. Performance fee shares are recognized only when it is determined that there is no may Long-term investments are marked to market at the end of each reporting period. Realized and unrealized gains and losses are recognized in the period of adjustment. During periods prior to the Company’s final liquidating withdrawal from Alluvial Fund on December 31, 2021, may Management notes that the structure of these arrangements leaves a very low possibility for nonperformance. While the amount of revenue can vary from month to month, collectability is very high. No A summary of revenue earned through asset management operations for the three March 31, 2022, 2021 Asset Management Operations Revenue Quarterly Period Ended March 31, 2022 Quarterly Period Ended March 31, 2021 Unrealized gains on investment activity $ — $ 2,054,471 Performance fee revenue — 99,579 Management fee revenue 16,745 19,264 Fund management services revenue 21,750 20,540 Total revenue $ 38,495 $ 2,193,854 Real Estate Revenue Prior to the sale of its sole remaining residential rental property during the three March 31, 2022, Rental revenue from real estate held for investment was recognized when it was earned, generally on the last day of each month or at another regular period agreed upon by the Company and the tenant. Tenants generally provided a security deposit at the time of possession. This deposit was held separately from revenue and only applied to revenue when rental payment comparable to the security deposit amount was not No Revenue from real estate held for resale was recognized upon closing of the sale (transfer of control), as all conditions for full revenue recognition were met at that time. All costs associated with the property sold were removed from the consolidated balance sheets and were charged to cost of revenue at that time. Internet Revenue The Company sells internet and email 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 internet services to be performed. Revenue is recognized in the period service is provided. Total deferred revenue increased from $171,194 at December 31, 2021, March 31, 2022. three March 31, 2022, 2021, |
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, 2021, December 31, 2020, December 31, 2019, During the three March 31, 2022 2021, not three not |
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” is 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 three March 31, 2022. three March 31, 2021, None three March 31, 2021 |
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 In October 2021, 2021 08, 805 no 606 606 December 15, 2022 December 31, 2021. not The Company does not not |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
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 Quarterly Period Ended March 31, 2022 Quarterly Period Ended March 31, 2021 Unrealized gains on investment activity $ — $ 2,054,471 Performance fee revenue — 99,579 Management fee revenue 16,745 19,264 Fund management services revenue 21,750 20,540 Total revenue $ 38,495 $ 2,193,854 |
Note 5 - Property and Equipme_2
Note 5 - Property and Equipment (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | March 31, 2022 December 31, 2021 Computers and equipment $ 17,330 $ 17,330 Furniture and fixtures 10,850 10,850 28,180 28,180 Less accumulated depreciation (19,530 ) (18,519 ) Property and equipment, net $ 8,650 $ 9,661 |
Note 6 - Real Estate (Tables)
Note 6 - Real Estate (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | EDI Real Estate March 31, 2022 December 31, 2021 Units occupied or available for rent 0 1 Vacant lots held for investment 2 2 Total units held for investment 2 3 |
Real Estate Properties, Disclosure [Table Text Block] | EDI Real Estate March 31, 2022 December 31, 2021 Total real estate held for investment $ — $ 43,821 Accumulated depreciation — (16,910 ) Real estate held for investment, net $ — $ 26,911 |
Note 7 - Segment Information (T
Note 7 - Segment Information (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Quarterly Period Ended March 31, 2022 Asset Management Real Estate Internet Other Consolidated Revenues $ 38,495 $ 1,800 $ 216,680 $ — $ 256,975 Cost of revenue — 445 71,194 — 71,639 Operating expenses 119,417 209 49,844 814,776 984,246 Other income (expense) (173 ) 43,390 1,408 21,463 66,088 Income (loss) from operations (81,095 ) 44,536 97,050 (793,313 ) (732,822 ) Goodwill — — 212,445 — 212,445 Identifiable assets $ 2,422,054 $ 19,738 $ 431,742 $ 14,586,198 $ 17,459,732 Quarterly Period Ended March 31, 2021 Asset Management Real Estate Internet Other Consolidated Revenues $ 2,193,854 $ 9,736 $ 232,266 $ — $ 2,435,856 Cost of revenue — 7,644 71,963 — 79,607 Operating expenses 117,711 6,485 46,541 207,253 377,990 Other income (expense) — (4,795 ) 361 4,824 390 Income (loss) from operations 2,076,143 (9,188 ) 114,123 (202,429 ) 1,978,649 Goodwill — — 212,445 — 212,445 Identifiable assets $ 15,820,688 $ 312,819 $ 433,317 $ 339,926 $ 16,906,750 |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Details Textual) | Dec. 27, 2021USD ($)shares | Jun. 27, 2019USD ($) | May 18, 2018USD ($) | Mar. 31, 2022USD ($)shares | Mar. 31, 2021shares | Jun. 30, 2018 | Dec. 31, 2021USD ($) | Dec. 31, 2020 | Aug. 24, 2017USD ($) |
Number of Reportable Segments | 4 | ||||||||
Proceeds from Sale of Equity Securities, FV-NI | $ 1,680,208 | ||||||||
Stockholders' Equity Attributable to Noncontrolling Interest, Ending Balance | $ 0 | ||||||||
Number of Vacant Properties | 2 | ||||||||
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Total | $ 50,000 | $ 50,000 | |||||||
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 | ||||||||
Financing Receivable, after Allowance for Credit Loss, Total | $ 155,000 | ||||||||
Equity Securities Acquired, Shares (in shares) | shares | 393,750 | ||||||||
Payments to Acquire Notes Receivable | $ 25,000 | ||||||||
Impairment Loss, Equity Securities and Note Receivable | $ 189,515 | ||||||||
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Total | 50,000 | ||||||||
Equity Securities without Readily Determinable Fair Value, Amount | $ 0 | ||||||||
Investment Owned, Balance, Shares (in shares) | shares | 847,847 | ||||||||
Mt. Melrose LLC [Member] | Woodmont [Member] | |||||||||
Percentage of Membership Interest in Subsidiary Sold | 65.00% | ||||||||
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 | ||
Mar. 31, 2022USD ($)shares | Mar. 31, 2021USD ($) | Dec. 31, 2021USD ($) | |
Accounts Receivable, Allowance for Credit Loss, Ending Balance | $ 2,388 | $ 474 | |
Accounts Receivable, Credit Loss Expense (Reversal) | 6,832 | $ 89 | |
Goodwill, Impairment Loss | $ 0 | 0 | |
Number of Domain Names Owned | 236 | ||
Number of Domain Names Available for Sale | 108 | ||
Impairment of Intangible Assets (Excluding Goodwill), Total | $ 0 | ||
Transfer of Real Estate Held for Sale to Held for Investment | 169,181 | ||
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate, Improvements | 0 | 0 | |
Contract with Customer, Liability, Current | 191,501 | $ 171,194 | |
Contract with Customer, Liability, Revenue Recognized | 98,632 | 119,312 | |
Income Tax Expense (Benefit), Total | $ 0 | 0 | |
Incremental Common Shares Attributable to Dilutive Effect of Share-Based Payment Arrangements (in shares) | shares | 668 | ||
Internet Domain Names [Member] | |||
Amortization of Intangible Assets | $ 1,924 | $ 0 |
Note 2 - Summary of Significa_4
Note 2 - Summary of Significant Accounting Policies - Property and Equipment Useful Life (Details) | 3 Months Ended |
Mar. 31, 2022 | |
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_5
Note 2 - Summary of Significant Accounting Policies - Revenue From Asset Management Operations (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Investment Performance [Member] | ||
Asset management operations revenue | $ 0 | $ 2,054,471 |
Performance Fee Revenue [Member] | ||
Asset management operations revenue | 0 | 99,579 |
Management Fee Revenue [Member] | ||
Asset management operations revenue | 16,745 | 19,264 |
Fund Management Services Revenue [Member] | ||
Asset management operations revenue | 21,750 | 20,540 |
Asset Management [Member] | ||
Asset management operations revenue | $ 38,495 | $ 2,193,854 |
Note 3 - Historical Sale of R_2
Note 3 - Historical Sale of Remaining Interest in Real Estate Subsidiary (Details Textual) - USD ($) | May 17, 2021 | Jun. 27, 2019 | Jun. 30, 2021 | Dec. 31, 2021 |
Mt. Melrose LLC [Member] | Disposal Group, Disposed of by Means Other than 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 | $ 850,000 | ||
Mt. Melrose LLC [Member] | ||||
Equity Method Investment, Ownership Percentage | 35.00% | 0.00% | ||
Mt. Melrose LLC [Member] | Woodmont [Member] | ||||
Equity Method Investment, Ownership Percentage Sold | 65.00% | |||
Proceeds from Divestiture of Interest in Consolidated Subsidiaries | $ 100,000 |
Note 4 - Fair Value of Assets_2
Note 4 - Fair Value of Assets and Liabilities (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Goodwill, Impairment Loss | $ 0 | $ 0 | |
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Total | 50,000 | $ 50,000 | |
Triad Guaranty, Inc. [Member] | |||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | 45,410 | ||
Impairment Loss, Note Receivable | 144,105 | ||
Impairment Loss, Equity Securities and Note Receivable | 189,515 | ||
Financing Receivable, after Allowance for Credit Loss, Noncurrent, Total | 50,000 | $ 50,000 | |
Mt. Melrose LLC [Member] | |||
Equity Securities without Readily Determinable Fair Value, Impairment Loss, Annual Amount | 0 | ||
Real Estate, Held For Sale [Member] | |||
Impairment of Real Estate | $ 0 | $ 0 |
Note 5 - Property and Equipme_3
Note 5 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Depreciation, Total | $ 1,012 | $ 1,012 |
Note 5 - Property and Equipme_4
Note 5 - Property and Equipment - Schedule of Cost of Property and Equipment (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Property and equipment, gross | $ 28,180 | $ 28,180 |
Less accumulated depreciation | (19,530) | (18,519) |
Property and equipment, net | 8,650 | 9,661 |
Computer Equipment [Member] | ||
Property and equipment, gross | 17,330 | 17,330 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | $ 10,850 | $ 10,850 |
Note 6 - Real Estate (Details T
Note 6 - Real Estate (Details Textual) | 3 Months Ended | |
Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | |
Depreciation, Total | $ 1,012 | $ 1,012 |
Proceeds from Sale of Real Estate Held-for-investment, Total | 69,603 | |
Gains (Losses) on Sales of Investment Real Estate | 43,140 | |
EDI Real Estate, LLC [Member] | ||
Depreciation, Total | $ 398 | $ 2,377 |
Number of Real Estate Properties Sold | 0 | |
Number of Real Estate Properties Acquired | 0 | 0 |
Impairment of Real Estate | $ 0 | $ 0 |
Vacant Lots [Member] | ||
Number of Real Estate Properties | 2 | |
Residential Properties Sold [Member] | EDI Real Estate, LLC [Member] | ||
Proceeds from Sale of Real Estate Held-for-investment, Total | $ 75,000 | |
Proceeds from Sale of Real Estate Held-for-investment, Net | 69,603 | |
Real Estate Investment Property, Net, Total | 26,463 | |
Gains (Losses) on Sales of Investment Real Estate | $ 43,140 |
Note 6 - Real Estate - Portfoli
Note 6 - Real Estate - Portfolio of Properties in Units (Details) - EDI Real Estate, LLC [Member] | Mar. 31, 2022 | Dec. 31, 2021 |
Real Estate Occupied or Available to Rent, Held For Investment [Member] | ||
Number of Real Estate Properties | 0 | 1 |
Vacant Real Estate Being Prepared or to Be Prepared to Market to Tenants, Held For Investment [Member] | ||
Number of Real Estate Properties | 2 | 2 |
Real Estate Held for Investment [Member] | ||
Number of Real Estate Properties | 2 | 3 |
Note 6 - Real Estate - Schedule
Note 6 - Real Estate - Schedule of Carrying Amount of Real Estate Properties (Details) - EDI Real Estate, LLC [Member] - Real Estate Held for Investment [Member] - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Total real estate held for investment | $ 0 | $ 43,821 |
Accumulated depreciation, held for investment | 0 | (16,910) |
Real estate held for investment, net | $ 0 | $ 26,911 |
Note 7 - Segment Information (D
Note 7 - Segment Information (Details Textual) | 3 Months Ended | |
Mar. 31, 2022USD ($) | Mar. 31, 2021USD ($) | |
Number of Operating Segments | 4 | |
Internet Operations [Member] | UNITED STATES | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 205,877 | $ 220,280 |
Internet Operations [Member] | CANADA | ||
Revenue from Contract with Customer, Including Assessed Tax | $ 10,803 | $ 11,986 |
Note 7 - Segment Information -
Note 7 - Segment Information - Summary of Financial Information Concerning Company's Reportable Segments (Details) - USD ($) | 3 Months Ended | ||
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Revenues | $ 256,975 | $ 2,435,856 | |
Cost of revenue | 71,639 | 79,607 | |
Other income (expense) | 66,088 | 390 | |
Income (loss) from operations | (732,822) | 1,978,649 | |
Goodwill | 212,445 | $ 212,445 | |
Identifiable assets | 17,459,732 | $ 17,940,758 | |
Asset Management [Member] | |||
Revenues | 38,495 | 2,193,854 | |
Cost of revenue | 0 | 0 | |
Operating expenses | 119,417 | 117,711 | |
Other income (expense) | (173) | 0 | |
Income (loss) from operations | (81,095) | 2,076,143 | |
Goodwill | 0 | 0 | |
Identifiable assets | 2,422,054 | 15,820,688 | |
Real Estate [Member] | |||
Revenues | 1,800 | 9,736 | |
Cost of revenue | 445 | 7,644 | |
Operating expenses | 209 | 6,485 | |
Other income (expense) | 43,390 | (4,795) | |
Income (loss) from operations | (9,188) | ||
Income (loss) from operations | 44,536 | ||
Goodwill | 0 | 0 | |
Identifiable assets | 19,738 | 312,819 | |
Internet Operations [Member] | |||
Revenues | 216,680 | 232,266 | |
Cost of revenue | 71,194 | 71,963 | |
Operating expenses | 49,844 | 46,541 | |
Other income (expense) | 1,408 | 361 | |
Income (loss) from operations | 114,123 | ||
Income (loss) from operations | 97,050 | ||
Goodwill | 212,445 | 212,445 | |
Identifiable assets | 431,742 | 433,317 | |
Product and Service, Other [Member] | |||
Revenues | 0 | 0 | |
Cost of revenue | 0 | 0 | |
Operating expenses | 814,776 | 207,253 | |
Other income (expense) | 21,463 | 4,824 | |
Income (loss) from operations | (202,429) | ||
Income (loss) from operations | (793,313) | ||
Goodwill | 0 | 0 | |
Identifiable assets | 14,586,198 | 339,926 | |
Home Service [Member] | Discontinued Operations [Member] | |||
Revenues | 256,975 | 2,435,856 | |
Cost of revenue | 71,639 | 79,607 | |
Operating expenses | 984,246 | 377,990 | |
Other income (expense) | 66,088 | 390 | |
Income (loss) from operations | 1,978,649 | ||
Income (loss) from operations | (732,822) | ||
Goodwill | 212,445 | 212,445 | |
Identifiable assets | $ 17,459,732 | $ 16,906,750 |
Note 8 - Commitments and Cont_2
Note 8 - Commitments and Contingencies (Details Textual) - USD ($) | May 17, 2021 | Jun. 27, 2019 | Apr. 12, 2016 | Mar. 31, 2022 | Jun. 30, 2021 | Mar. 31, 2021 |
Operating Lease, Expense | $ 5,250 | $ 5,250 | ||||
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 | $ 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 9 - Stockholders' Equity (
Note 9 - Stockholders' Equity (Details Textual) - $ / shares | Apr. 01, 2022 | Mar. 31, 2022 | Dec. 31, 2021 | Jun. 16, 2021 | Jun. 15, 2021 | 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 | 10,000,000 | 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 | 2,647,383 | ||||
Subsequent Event [Member] | ||||||
Preferred Stock, Shares Authorized (in shares) | 250,000 | |||||
Series A Preferred Stock [Member] | ||||||
Preferred Stock, Shares Authorized (in shares) | 250,000 |