Document And Entity Information
Document And Entity Information - shares | 3 Months Ended | |
Mar. 31, 2021 | Sep. 09, 2021 | |
Document Information Line Items | ||
Entity Registrant Name | UC Asset LP | |
Document Type | 10-Q | |
Current Fiscal Year End Date | --12-31 | |
Entity Common Stock, Shares Outstanding | 5,635,303 | |
Amendment Flag | false | |
Entity Central Index Key | 0001723517 | |
Entity Current Reporting Status | Yes | |
Entity Filer Category | Non-accelerated Filer | |
Document Period End Date | Mar. 31, 2021 | |
Document Fiscal Year Focus | 2021 | |
Document Fiscal Period Focus | Q1 | |
Entity Small Business | true | |
Entity Emerging Growth Company | false | |
Entity Shell Company | false | |
Entity File Number | 024-10802 | |
Entity Incorporation, State or Country Code | DE | |
Entity Interactive Data Current | Yes |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
ASSETS | ||
Portfolio investments | $ 7,436,061 | $ 7,493,777 |
Property and equipment and other assets, net | 36,141 | 66,980 |
Cash and cash equivalents | 1,338,128 | 1,419,710 |
Total Assets | 8,810,330 | 8,980,467 |
LIABILITIES AND PARTNERS’ CAPITAL | ||
Accrued and other liabilities | 58,226 | 57,938 |
Partners capital: | ||
Series A preferred units, 166,667 and 0 issued and outstanding at March 31, 2020 and December 31, 2019, respectively | 300,000 | 300,000 |
Common units, 5,635,306 units issued and outstanding at March 31, 2020 and December 31, 2019 | 8,452,104 | 8,622,529 |
Total Liabilities and Partners’ Capital | $ 8,810,330 | $ 8,980,467 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Parentheticals) - shares | Mar. 31, 2021 | Dec. 31, 2020 |
Common stock, issued shares | 5,635,306 | 5,635,306 |
Common stock, outstanding shares | 5,635,306 | 5,635,306 |
Series A Preferred Stock | ||
Preferred stock, issued shares | 166,667 | 0 |
Preferred stock, outstanding shares | 166,667 | 0 |
Condensed Consolidated Statemen
Condensed Consolidated Statements of Changes in Net Assets from Operations (unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
INCOME | ||
Total income | $ 90,861 | $ 30,647 |
COST OF SALES | ||
Cost of sales | ||
Total cost of sales | ||
Gross Margin | 90,861 | 30,647 |
OPERATING EXPENSES | ||
Management fees | 45,288 | 46,927 |
Professional fees and other expenses | 93,696 | 70,247 |
Depreciation | 22,086 | 11,692 |
Total operating expenses | 161,070 | 128,866 |
Net investment loss before unrealized gains (losses) | (70,209) | (98,219) |
Net realized and unrealized gains (losses) from investments: | ||
Net unrealized gain (loss) on portfolio investments | (100,216) | (895,803) |
Net realized and unrealized gains (losses) | (100,216) | (895,803) |
Net increase (decrease) in net assets from operations | $ (170,425) | $ (994,022) |
Net increase in net assets per unit (in Dollars per share) | $ (0.03) | $ (0.18) |
Weighted average units outstanding (in Shares) | 5,635,303 | 5,635,303 |
Sales of homes | ||
INCOME | ||
Total income | ||
Rental income | ||
INCOME | ||
Total income | 36,300 | 21,947 |
Interest income | ||
INCOME | ||
Total income | $ 54,561 | $ 8,700 |
Condensed Consolidated Statem_2
Condensed Consolidated Statement of Partners’ Capital (Unaudited) - USD ($) | Limited Partners Common Units | Limited Partners Preferred A Units | General Partner | Total |
Balance at Dec. 31, 2019 | $ 8,798,031 | $ 8,798,031 | ||
Balance (in Shares) at Dec. 31, 2019 | 5,635,303 | |||
Issuance of Preferred Series A units | $ 300,000 | 300,000 | ||
Issuance of Preferred Series A units (in Shares) | 166,667 | |||
Net change in net assets from operations | (994,022) | (994,022) | ||
Balance at Mar. 31, 2020 | $ 7,804,009 | $ 300,000 | 8,104,009 | |
Balance (in Shares) at Mar. 31, 2020 | 5,635,303 | 166,667 | ||
Balance at Dec. 31, 2020 | $ 8,622,529 | $ 300,000 | 8,922,529 | |
Balance (in Shares) at Dec. 31, 2020 | 5,635,303 | 166,667 | ||
Net change in net assets from operations | $ (170,425) | (170,425) | ||
Balance at Mar. 31, 2021 | $ 8,452,104 | $ 300,000 | $ 8,752,104 | |
Balance (in Shares) at Mar. 31, 2021 | 5,635,303 | 166,667 |
Condensed Consolidated Statem_3
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Mar. 31, 2020 | |
CASH FLOWS FROM OPERATING ACTIVITIES: | ||
Net decrease in net assets from operations | $ (170,425) | $ (994,022) |
Adjustments to reconcile net decrease in net assets from operations to net cash provided by (used in) operating activities: | ||
Net unrealized losses on portfolio investments | 100,216 | 895,803 |
Amortization of prepaid expense | 9,902 | 14,691 |
Depreciation and amortization | 22,086 | 11,692 |
Changes in working capital items | ||
Accrued receivables | (48,200) | 28,827 |
Deposits and other assets | (5,750) | 1,267 |
Accrued and other liabilities | 289 | 13,131 |
Net cash used in operating activities | (91,882) | (28,611) |
CASH FLOWS FROM INVESTING ACTIVITIES: | ||
Investments in portfolio loans | (400,000) | |
Repayments of portfolio loans | 6,000 | |
Repayments of portfolio loans, related party | 4,500 | |
Net cash provided by (used in) investing activities | 10,500 | (400,000) |
CASH FLOWS FROM FINANCING ACTIVITIES: | ||
Cash received for preferred A units | 300,000 | |
Net cash provided by financing activities | 0 | 300,000 |
Net increase in cash and cash equivalents | (81,382) | (128,611) |
Cash and cash equivalents, beginning of period | 1,419,710 | 153,687 |
Cash and cash equivalents, end of period | $ 1,338,328 | $ 25,076 |
Organization and Nature of Oper
Organization and Nature of Operations | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
ORGANIZATION AND NATURE OF OPERATIONS | NOTE 1 - ORGANIZATION AND NATURE OF OPERATIONS UC Asset, LP (the “Partnership”) is a Delaware Limited Partnership formed for the purpose of making capital investments with a focus on growth-equity investments and real estate. The Partnership was formed on February 1, 2016. The Partnership is managed by its General Partner, UCF Asset LLC. |
Summary of Significant Accounti
Summary of Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES | NOTE 2 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (a) Basis of accounting The accompanying unaudited condensed interim financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In our opinion, the accompanying unaudited interim financial statements contain all adjustments (which are of a normal recurring nature) necessary for a fair presentation. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. (b) Principles of Consolidation (c) Use of estimates (d) Fair value measurements Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect management’s market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model derived valuations whose inputs are observable or whose significant value drivers are observable Level 3: Significant inputs to the valuation model are unobservable The General Partner maintains policies and procedures to value instruments using the best and most relevant data available. In addition, The General partner reviews valuations, including independent price validation for certain instruments. Further, in other instances, independent pricing vendors are obtained to assist in valuing certain instruments. (e) Cash and equivalents (f) Investments Investments in short term loans are recorded at fair value, which are their stated amount due to their short-term maturity and modest interest rates. Portfolio investments are recorded at their estimated fair value, as determined in good faith by the General Partner of the Partnership. Unrealized gains and losses are recognized in earnings. The estimated fair value of investments as determined by the General Partner was $7,436,461 and $7,493,777 representing 87.98% and 86.91% of partners’ capital at March 31, 2021 and December 31, 2020, whose values have been estimated by the General Partner in the absence of readily ascertainable market values. Due to the inherent uncertainty of valuation, the General Partner’s determination of values may differ significantly from values that would have been realized had a ready market for the investments existed, and the differences could be material. (g) Federal Income taxes As defined by Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 740, Income Taxes, no provision or liability for materially uncertain tax positions was deemed necessary by management. Therefore, no provision or liability for uncertain tax positions has been included in these financial statements. Generally, the Partnerships tax returns remain open for three years for federal income tax examination. (h) Income (i) Recent Accounting Pronouncements |
Liquidity and Going Concern Con
Liquidity and Going Concern Considerations | 3 Months Ended |
Mar. 31, 2021 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
LIQUIDITY AND GOING CONCERN CONSIDERATIONS | NOTE 3 - LIQUIDITY AND GOING CONCERN CONSIDERATIONS The Partnership’s consolidated financial statements have been prepared on a going concern basis, which contemplates the realization of assets and the settlement of liabilities and commitments in the normal course of business. The Partnership sustained a net operating loss of approximately $170,425 and cash use of $91,822 from operations for the three months ended March 31, 2021. These conditions raise substantial doubt about our ability to continue as a going concern. The accompanying condensed consolidated financial statements do not include any adjustments that might be necessary if we are unable to continue as a going concern. |
Fair Value of Financial Instrum
Fair Value of Financial Instruments | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
FAIR VALUE OF FINANCIAL INSTRUMENTS | NOTE 4 - FAIR VALUE OF FINANCIAL INSTRUMENTS (a) Cash and Cash Equivalents (b) Unsecured Loan Investments (c) Portfolio Investments The fair values of the investee entity’s assets are determined in part by placing reliance on third-party valuations of the properties and/or third party approved internally prepared analyses of recent offers or prices on comparable properties in the proximate vicinity. The third-party valuations and internally developed analyses are significantly impacted by the local market economy, market supply and demand, competitive conditions and prices on comparable properties, adjusted for anticipated date of sale, location, property size, and other factors. Each property is unique and is analyzed in the context of the particular market where the property is located. In order to establish the significant assumptions for a particular property, the GP analyzes historical trends, including trends achieved by the GP’s operations, if applicable, and current trends in the market and economy impacting the property. These methods use unobservable inputs to develop fair value for the GP’s properties. Due to the volume and variance of unobservable inputs, resulting from the uniqueness of each of the GP’s properties, the GP does not use a standard range of unobservable inputs with respect to its evaluation of properties. Changes in economic factors, consumer demand and market conditions, among other things, could materially impact estimates used in the third-party valuations and/or internally prepared analyses of recent offers or prices on comparable properties. Thus, estimates can differ significantly from the amounts ultimately realized by the investee segment from disposition of these assets. The following tables present the fair values of assets and liabilities measured on a recurring basis: At March 31, 2021 Fair Value Measurement at Reporting Date Using Fair Quoted Prices in Significant Significant Atlanta Landsight, LLC $ 4,859,309 $ - $ - $ 4,859,309 SHOC Holdings LLC 751,537 - - 751,537 Hotal Service LLC - - - - Short term loans 440,837 - - 440,837 Total Assets $ 6,051,683 $ - $ - $ 6,051,683 At December 31, 2020 Fair Value Measurement at Reporting Date Using Fair Quoted Prices in Significant Significant Atlanta Landsight, LLC $ 4,936,494 $ - $ - $ 4,936,494 SHOC Holdings LLC 740,837 - - 740,837 Hotal Service LLC - - - - Short term loans 405,001 - - 405,001 Total Assets $ 6,082,332 $ - $ - $ 6,082,332 The fair value measurements are subjective in nature, involve uncertainties and matters of significant judgment; therefore, the results cannot be determined with precision, substantiated by comparison to independent markets and may not be realized in an actual sale or immediate settlement of the instruments. There may be inherent weaknesses in any calculation technique, and changes in the underlying assumptions used, including discount rates and estimates of future cash flows, could significantly affect the results. For all of these reasons, the aggregation of the fair value calculations presented herein do not represent, and should not be construed to represent, the underlying value of the Partnership. Generally, the fair value of the Atlanta investee’s properties is not sensitive to changes in unobservable inputs since generally the properties are held for less than six months. Generally such changes in unobservable inputs take longer than six months to have an appreciable effect of more than 1 to 2% on these properties fair value. The Dallas investee’s property is more sensitive to changes in unobservable inputs because this property was acquired with a longer time horizon due to the nature of its size and undeveloped status. The following table presents the changes in Level 3 instruments measured on a recurring basis: Three Months Ended March 31, 2021 Portfolio Investments January 1, 2020 $ 7,891,520 Total gains or losses (realized/unrealized): Included in earnings (457,959 ) Included in other comprehensive income - Purchases, issuance and settlements 2,500 Transfers in/out of Level 3 - March 31, 2021 $ 7,436,061 Year Ended December 31, 2020 Portfolio Investments January 1, 2020 $ 8,667,749 Total gains or losses (realized/unrealized): Included in earnings 996,342 Included in other comprehensive income (1,772,571 ) Purchases, issuance and settlements Transfers in/out of Level 3 - December 31, 2020 $ 7,891,520 |
Concentrations of Credit Risk
Concentrations of Credit Risk | 3 Months Ended |
Mar. 31, 2021 | |
Risks and Uncertainties [Abstract] | |
CONCENTRATIONS OF CREDIT RISK | NOTE 5 - CONCENTRATIONS OF CREDIT RISK a) Cash |
Capital
Capital | 3 Months Ended |
Mar. 31, 2021 | |
Stockholders' Equity Note [Abstract] | |
CAPITAL | NOTE 6 - CAPITAL The Partnerships capital structure consists of one General Partner and 81 limited partners. The Partnerships total contributed capital was $8,077,540 at March 31, 2021 and December 31, 2020. The limited partner common units are 5,635,306 at March 31, 2021 and December 31, 2020. The limited partner preferred Series A units are 166,667 at March 31, 2021 and December 31, 2020. The Preferred Units carry the following rights and privileges: - annual dividend of $0.09 per unit, not to exceed the audited annual net increase to net assets from operations - carry no voting rights - preference for dividends and in liquidation - 12 months post issuance, redeemable at $0.50 per unit, if the market price of the common units falls below $0.50 per unit for 20 consecutive trading days - 12 months post issuance, convertible into common units on a variable conversion ratio 1.0:1.0 (if the lowest closing price of the common units is $1.80 or more for the 5 trading days prior to conversion), up to 1.125:1.0 (if the lowest closing price of the common units is $1.60 or less for the 5 trading days prior to conversion) - conversion and redemption price shall not be lower than the book value per common unit based on the last audited book value per unit In the first quarter 2020 the partnership issued 166,667 Series A preferred units in exchange for $300,000 in cash. b) Allocations of Profits and Losses The GP participates in the profits of the Partnership at a rate of 20% above a 10% annualized return to the Limited Partners. Beginning January 1, 2020, the GP participates in the profits of the Partnership at a rate of 20% above an 8% annualized return to the Limited Partners. |
Management Fees - Related Party
Management Fees - Related Party | 3 Months Ended |
Mar. 31, 2021 | |
Management Fees Related Party [Abstract] | |
MANAGEMENT FEES - RELATED PARTY | NOTE 7 - MANAGEMENT FEES - RELATED PARTY The Partnership pays annual management fees to UCF Asset LLC. Management fees are calculated at 2.0% of assets under management on the first day of the fiscal year, payable quarterly. Management fees were $45,288 and $46,927 for the three months ended March 31, 2021 and 2020, respectively. |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 3 Months Ended |
Mar. 31, 2021 | |
Accounting Policies [Abstract] | |
Basis of accounting | (a) Basis of accounting The accompanying unaudited condensed interim financial statements have been prepared in accordance with Generally Accepted Accounting Principles (“GAAP”) in the United States of America (“U.S.”) as promulgated by the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and with the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”). In our opinion, the accompanying unaudited interim financial statements contain all adjustments (which are of a normal recurring nature) necessary for a fair presentation. Operating results for the three months ended March 31, 2021 are not necessarily indicative of the results that may be expected for the year ending December 31, 2021. |
Principles of Consolidation | (b) Principles of Consolidation |
Use of estimates | (c) Use of estimates |
Fair value measurements | (d) Fair value measurements Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect management’s market assumptions. Preference is given to observable inputs. These two types of inputs create the following fair value hierarchy: Level 1: Quoted prices in active markets for identical assets or liabilities. Level 2: Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model derived valuations whose inputs are observable or whose significant value drivers are observable Level 3: Significant inputs to the valuation model are unobservable The General Partner maintains policies and procedures to value instruments using the best and most relevant data available. In addition, The General partner reviews valuations, including independent price validation for certain instruments. Further, in other instances, independent pricing vendors are obtained to assist in valuing certain instruments. |
Cash and equivalents | (e) Cash and equivalents |
Investments | (f) Investments Investments in short term loans are recorded at fair value, which are their stated amount due to their short-term maturity and modest interest rates. Portfolio investments are recorded at their estimated fair value, as determined in good faith by the General Partner of the Partnership. Unrealized gains and losses are recognized in earnings. The estimated fair value of investments as determined by the General Partner was $7,436,461 and $7,493,777 representing 87.98% and 86.91% of partners’ capital at March 31, 2021 and December 31, 2020, whose values have been estimated by the General Partner in the absence of readily ascertainable market values. Due to the inherent uncertainty of valuation, the General Partner’s determination of values may differ significantly from values that would have been realized had a ready market for the investments existed, and the differences could be material. |
Federal Income taxes | (g) Federal Income taxes As defined by Financial Accounting Standards Board Accounting Standards Codification (ASC) Topic 740, Income Taxes, no provision or liability for materially uncertain tax positions was deemed necessary by management. Therefore, no provision or liability for uncertain tax positions has been included in these financial statements. Generally, the Partnerships tax returns remain open for three years for federal income tax examination. |
Income | (h) Income |
Recent Accounting Pronouncements | (i) Recent Accounting Pronouncements |
Fair Value of Financial Instr_2
Fair Value of Financial Instruments (Tables) | 3 Months Ended |
Mar. 31, 2021 | |
Fair Value Disclosures [Abstract] | |
Schedule of assets and liabilities measured on a recurring basis | At March 31, 2021 Fair Value Measurement at Reporting Date Using Fair Quoted Prices in Significant Significant Atlanta Landsight, LLC $ 4,859,309 $ - $ - $ 4,859,309 SHOC Holdings LLC 751,537 - - 751,537 Hotal Service LLC - - - - Short term loans 440,837 - - 440,837 Total Assets $ 6,051,683 $ - $ - $ 6,051,683 At December 31, 2020 Fair Value Measurement at Reporting Date Using Fair Quoted Prices in Significant Significant Atlanta Landsight, LLC $ 4,936,494 $ - $ - $ 4,936,494 SHOC Holdings LLC 740,837 - - 740,837 Hotal Service LLC - - - - Short term loans 405,001 - - 405,001 Total Assets $ 6,082,332 $ - $ - $ 6,082,332 |
Schedule of Level 3 instruments measured on a recurring basis | Three Months Ended March 31, 2021 Portfolio Investments January 1, 2020 $ 7,891,520 Total gains or losses (realized/unrealized): Included in earnings (457,959 ) Included in other comprehensive income - Purchases, issuance and settlements 2,500 Transfers in/out of Level 3 - March 31, 2021 $ 7,436,061 Year Ended December 31, 2020 Portfolio Investments January 1, 2020 $ 8,667,749 Total gains or losses (realized/unrealized): Included in earnings 996,342 Included in other comprehensive income (1,772,571 ) Purchases, issuance and settlements Transfers in/out of Level 3 - December 31, 2020 $ 7,891,520 |
Summary of Significant Accoun_2
Summary of Significant Accounting Policies (Details) - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Accounting Policies [Abstract] | ||
Estimated of fair value of investments | $ 7,436,461 | $ 7,493,777 |
Percentage of fair value investments | 87.98% | 86.91% |
Liquidity and Going Concern C_2
Liquidity and Going Concern Considerations (Details) | 3 Months Ended |
Mar. 31, 2021USD ($) | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Net operating loss | $ 170,425 |
Cash use for operations | $ 91,822 |
Fair Value of Financial Instr_3
Fair Value of Financial Instruments (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 31, 2020 | |
Fair Value Disclosures [Abstract] | ||
Credit risk | $ 788,408 | $ 782,754 |
Unobservable inputs description | Generally such changes in unobservable inputs take longer than six months to have an appreciable effect of more than 1 to 2% on these properties fair value. |
Fair Value of Financial Instr_4
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis - USD ($) | Mar. 31, 2021 | Dec. 31, 2020 |
Fair Value [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | $ 6,051,683 | $ 6,082,332 |
Fair Value [Member] | Atlanta Landsight LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | 4,859,309 | 4,936,494 |
Fair Value [Member] | SHOC Holdings LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | 751,537 | 740,837 |
Fair Value [Member] | Hotal Service LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Fair Value [Member] | Short term loans [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | 440,837 | 405,001 |
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Atlanta Landsight LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | SHOC Holdings LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Hotal Service LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Quoted Prices in Active Markets for Identical Assets/Liabilities (Level 1) [Member] | Short term loans [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Significant Other Observable Inputs (Level 2) [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Significant Other Observable Inputs (Level 2) [Member] | Atlanta Landsight LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Significant Other Observable Inputs (Level 2) [Member] | SHOC Holdings LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Significant Other Observable Inputs (Level 2) [Member] | Hotal Service LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Significant Other Observable Inputs (Level 2) [Member] | Short term loans [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Significant Unobservable Inputs (Level 3) [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | 6,051,683 | 6,082,332 |
Significant Unobservable Inputs (Level 3) [Member] | Atlanta Landsight LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | 4,859,309 | 4,936,494 |
Significant Unobservable Inputs (Level 3) [Member] | SHOC Holdings LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | 751,537 | 740,837 |
Significant Unobservable Inputs (Level 3) [Member] | Hotal Service LLC [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | ||
Significant Unobservable Inputs (Level 3) [Member] | Short term loans [Member] | ||
Fair Value of Financial Instruments (Details) - Schedule of assets and liabilities measured on a recurring basis [Line Items] | ||
Total Assets | $ 440,837 | $ 405,001 |
Fair Value of Financial Instr_5
Fair Value of Financial Instruments (Details) - Schedule of Level 3 instruments measured on a recurring basis - Portfolio Investments [Member] - USD ($) | 3 Months Ended | 12 Months Ended |
Mar. 31, 2021 | Dec. 30, 2020 | |
Condensed Income Statements, Captions [Line Items] | ||
Portfolio Investments beginning balance | $ 7,891,520 | $ 8,667,749 |
Total gains or losses (realized/unrealized): | ||
Included in earnings | (457,959) | 996,342 |
Included in other comprehensive income | (1,772,571) | |
Purchases, issuance and settlements | 2,500 | |
Transfers in/out of Level 3 | ||
Portfolio Investments ending balance | $ 7,436,061 | $ 7,891,520 |
Concentrations of Credit Risk (
Concentrations of Credit Risk (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2021 | Dec. 30, 2020 | |
Risks and Uncertainties [Abstract] | ||
Federal deposit insurance corporation amount | $ 250,000 | |
Cash balance excess of FDIC | $ 712,403 | $ 798,743 |
Capital (Details)
Capital (Details) | Jan. 01, 2020 | Mar. 31, 2021USD ($)shares | Dec. 31, 2020USD ($)shares | Mar. 31, 2020USD ($)shares |
Capital (Details) [Line Items] | ||||
Number of general partner | 1 | |||
Number of limited partner | 81 | |||
Partnerships total contributed capital (in Dollars) | $ | $ 8,077,540 | $ 8,077,540 | ||
Limited partner common units (in Shares) | 5,635,306 | 5,635,306 | ||
Limited partner preferred Series A units (in Shares) | 166,667 | 166,667 | ||
Preferred units rights and privileges, description | The Preferred Units carry the following rights and privileges: - annual dividend of $0.09 per unit, not to exceed the audited annual net increase to net assets from operations - carry no voting rights - preference for dividends and in liquidation - 12 months post issuance, redeemable at $0.50 per unit, if the market price of the common units falls below $0.50 per unit for 20 consecutive trading days - 12 months post issuance, convertible into common units on a variable conversion ratio 1.0:1.0 (if the lowest closing price of the common units is $1.80 or more for the 5 trading days prior to conversion), up to 1.125:1.0 (if the lowest closing price of the common units is $1.60 or less for the 5 trading days prior to conversion) - conversion and redemption price shall not be lower than the book value per common unit based on the last audited book value per unit | |||
General Partner [Member] | ||||
Capital (Details) [Line Items] | ||||
Percentage of profits | 20.00% | 20.00% | ||
Limited Partner [Member] | ||||
Capital (Details) [Line Items] | ||||
Percentage of profits | 8.00% | 10.00% | ||
Series A preferred units [Member] | ||||
Capital (Details) [Line Items] | ||||
Limited partner preferred Series A units (in Shares) | 166,667 | |||
Limited partner preferred Series A cash (in Dollars) | $ | $ 300,000 |
Management Fees - Related Par_2
Management Fees - Related Party (Details) - USD ($) | Mar. 31, 2021 | Mar. 31, 2020 |
Management Fees Related Party [Abstract] | ||
Percentage of management fees | 2.00% | |
Management fees | $ 45,288 | $ 46,927 |