Document and Entity Information
Document and Entity Information - shares | 6 Months Ended | |
Jun. 30, 2017 | Jul. 31, 2017 | |
Document And Entity Information | ||
Entity Registrant Name | STRATEGIC INTERNET INVESTMENTS INC | |
Entity Central Index Key | 53,320 | |
Document Type | 10-Q | |
Document Period End Date | Jun. 30, 2017 | |
Amendment Flag | false | |
Current Fiscal Year End Date | --12-31 | |
Is Entity a Well-known Seasoned Issuer? | No | |
Is Entity a Voluntary Filer? | No | |
Is Entity's Reporting Status Current? | Yes | |
Entity Filer Category | Smaller Reporting Company | |
Entity Common Stock, Shares Outstanding | 40,359,391 | |
Document Fiscal Period Focus | Q2 | |
Document Fiscal Year Focus | 2,017 |
Balance Sheets (Unaudited)
Balance Sheets (Unaudited) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Current Assets | ||
Cash | $ 381 | $ 375 |
TOTAL ASSETS | 381 | 375 |
Current: | ||
Accounts payable | 135,183 | 97,987 |
Accounts payable - related parties | 71,737 | 23,738 |
Accrued interest | 19,695 | 16,363 |
Accrued interest - related parties | 665,644 | 613,205 |
Convertible loan payable | 50,000 | 50,000 |
Loans payable - related parties | 408,866 | 385,906 |
Convertible notes payable - related party | 418,975 | 418,975 |
TOTAL LIABILITIES | 1,770,100 | |
Stockholders' deficit: | ||
Common stock, $0.001 par value 100,000,000 authorized 40,359,391 (2015: 40,359,391) issued and outstanding | 40,359 | 40,359 |
Additional paid-in capital | 12,156,359 | 12,156,359 |
Accumulated deficit | (13,966,635) | (13,802,715) |
TOTAL STOCKHOLDERS' DEFICIT | (1,769,719) | (1,605,799) |
TOTAL STOCKHOLDERS' DEFICIT AND LIABILITIES | 381 | 375 |
Class A Convertible Preferred | ||
Current: | ||
Preferred Stock | 198 | 198 |
Class B Preferred | ||
Current: | ||
Preferred Stock |
Balance Sheets (Unaudited) (Par
Balance Sheets (Unaudited) (Parenthetical) - $ / shares | Jun. 30, 2017 | Dec. 31, 2016 |
Common Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Common Stock, Shares Authorized | 100,000,000 | 100,000,000 |
Common Stock, Shares Issued | 40,359,391 | 40,359,391 |
Common Stock, Shares Outstanding | 40,359,391 | 40,359,391 |
Class A Convertible Preferred | ||
Preferred Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 198,000 | 198,000 |
Preferred Stock, Shares Outstanding | 198,000 | 198,000 |
Class B Preferred | ||
Preferred Stock, Par Value Per Share | $ 0.001 | $ 0.001 |
Preferred Stock, Shares Authorized | 10,000,000 | 10,000,000 |
Preferred Stock, Shares Issued | 0 | 0 |
Preferred Stock, Shares Outstanding | 0 | 0 |
Statements Of Operations (Unaud
Statements Of Operations (Unaudited) - USD ($) | 3 Months Ended | 6 Months Ended | ||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | |
General and Administrative Expenses | ||||
Accounting and audit fees | $ 10,933 | $ 5,671 | $ 18,708 | $ 25,569 |
Legal fees | 36,306 | 197 | 36,306 | 473 |
Management fees | 46,000 | 1,000 | 48,000 | 2,000 |
Office and general | 176 | 43 | 236 | 200 |
Regulatory fees | 3,770 | 1,732 | 4,321 | 4,461 |
Transfer agent fees | 600 | 375 | 1,200 | 750 |
Operating loss | (97,785) | (9,018) | (108,771) | (33,453) |
Other income and expense | ||||
Interest expense | (28,380) | (25,697) | (55,770) | (50,765) |
Gain (loss) on foreign exchange | 2,023 | (605) | 621 | (3,186) |
Net loss | $ (124,142) | $ (35,320) | $ (163,920) | $ (87,404) |
Basic and diluted loss per share | $ .00 | $ .00 | $ 0 | $ 0 |
Weighted average number of common shares outstanding | 40,359,391 | 40,359,391 | 40,359,391 | 40,359,391 |
Statements Of Cash Flows (Unaud
Statements Of Cash Flows (Unaudited) - USD ($) | 6 Months Ended | |
Jun. 30, 2017 | Jun. 30, 2016 | |
Operating Activities | ||
Net loss | $ (163,821) | $ (87,404) |
Adjustments to reconcile net loss to net cash used in operating activities: | ||
Unrealized foreign exchange (gain) loss | (1,668) | 1,303 |
Changes in operating assets and liabilities: | ||
Accounts payable | 37,196 | 19,274 |
Accounts payable - related parties | 47,999 | 2,010 |
Accrued interest | 3,332 | 3,034 |
Accrued interest - related parties | 52,493 | 47,731 |
Net cash used in operating activities | (24,622) | (14,052) |
Financing Activities | ||
Proceeds from related party advances | 24,628 | |
Net cash provided by financing activities | 24,628 | |
Change in cash during the period | 6 | (14,052) |
Cash, beginning of the period | 375 | 14,630 |
Cash, end of the period | 381 | 578 |
Supplementary disclosure of cash flows: | ||
Expenses paid by related party on behalf of the company | 5,300 | |
Cash paid for Interest | ||
Cash paid for Taxes |
Basis of Presentation
Basis of Presentation | 6 Months Ended |
Jun. 30, 2017 | |
Accounting Policies [Abstract] | |
Basis of Presentation | 1. Basis of Presentation The accompanying unaudited financial statements have been prepared by the Company pursuant to the rules and regulations of the United States Securities and Exchange Commission. Certain information and disclosures normally included in annual financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations. In the opinion of management, all adjustments and disclosures necessary for a fair presentation of these financial statements have been included. Such adjustments consist of normal recurring adjustments. These interim financial statements should be read in conjunction with the annual audited financial statements of the Company for the fiscal year ended December 31, 2016 included in the Companys 10-K Annual Report as filed with the United States Securities and Exchange Commission. The results of operations for the period ended June 30, 2017 are not indicative of the results that may be expected for the full year. |
Going Concern
Going Concern | 6 Months Ended |
Jun. 30, 2017 | |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
Going Concern | 2. Going Concern These financial statements have been prepared in accordance with generally accepted accounting principles applicable to a going concern, which assumes that the Company will be able to meet its obligations and continue its operations for its next fiscal year. Realization values may be substantially different from carrying values as shown and these financial statements do not give effect to adjustments that would be necessary to the carrying values and classification of assets and liabilities should the Company be unable to continue as a going concern. At June 30, 2017, the Company had not yet achieved profitable operations, has an accumulated deficit of $13,966,635 since its inception, has a working capital deficiency of $1,769,719 and expects to incur further losses in the development of its business, all of which casts substantial doubt about the Companys ability to continue as a going concern. Management anticipates that it requires approximately $93,000 over the twelve months ended June 30, 2018 to continue operations as well as the Company estimates it will accrue related interest expenses of $108,000 over the next 12 months on loans due to related parties. In addition to funding the Companys general, administrative and corporate expenses the Company is obligated to address its current obligations totalling $1,770,100. To the extent that cash needs are not achieved from operating cash flow and existing cash on hand, the Company will be required to raise necessary cash through shareholder loans, equity issuances and/or other debt financing. Amounts raised will be used to continue the development of the Company's investment activities, and for other working capital purposes. The Companys ability to continue as a going concern is dependent upon its ability to generate future profitable operations and/or to obtain the necessary financing to meet its obligations and repay its liabilities arising from normal business operations when they come due. Management has no formal plan in place to address this concern but considers that the Company will be able to obtain additional funds by equity financing and/or related party advances; however there is no assurance of additional funding being available. The Company has historically satisfied its capital needs primarily by issuing equity securities. Management plans to continue to provide for its capital needs during the twelve months ended June 30, 2018, by issuing equity securities and/or related party advances. |
Convertible Loan Payable
Convertible Loan Payable | 6 Months Ended |
Jun. 30, 2017 | |
Debt Disclosure [Abstract] | |
Convertible Loan Payable | 3. Convertible Loan Payable On January 5, 2014 Company entered into a Convertible Loan Agreement and issued a convertible note for $50,000. This loan is unsecured, bearing interest at 10% per annum, and was repayable at maturity on January 7, 2015, or on demand after that date. At any time, the lender may convert the principle amount of the loan into units of the Company, each unit consisting of one common share and one non-transferable share purchase warrant, at a conversion rate of $0.20 per unit. Each share purchase warrant entitles the holder to purchase one additional common share for a period of two years from the warrant issue date, at an exercise price of $0.20 during the first year, and $0.35 during the second year. Accrued in interest on the note at June 30, 2017 was $19,695 (December 31, 2016: $16,363). The Company calculated a beneficial conversion feature on the convertible note of $22,826, and this amount was fully amortized to interest expense during the year ended December 31, 2014. Upon conversion of this loan, which triggers the issuance of the warrants, the $42,000 fair value of the warrants will be recognized as an interest expense and credited to additional paid-in capital. The fair value of the warrants was estimated at the date the convertible note was issued using the Black-Scholes valuation model. The Black-Scholes valuation model requires the input of highly subjective assumptions including the expected price volatility. |
Loans payable - related parties
Loans payable - related parties | 6 Months Ended |
Jun. 30, 2017 | |
Brokers and Dealers [Abstract] | |
Loans payable - related parties | 4. Loans payable related parties June 30, December 31, 2017 2016 a) Loan payable to a company controlled by a director of the Company plus accrued interest of $22,136 (2016 - $20,488). The loan is unsecured, bearing interest at 12% per annum and is repayable on demand. $ 6,802 $ 6,802 b) Loans payable to a company controlled by a director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. 326,075 325,521 c) Loans payable to a company controlled by a former director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. 7,477 7,295 d) Loans payable to a director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. 68,512 46,288 Total Loans Payable related parties $ 408,866 $ 385,906 |
Convertible Loans Payable - rel
Convertible Loans Payable - related parties | 6 Months Ended |
Jun. 30, 2017 | |
Summary of Investments, Other than Investments in Related Parties [Abstract] | |
Convertible Loans Payable - related parties | 5. Convertible Loans Payable related parties June 30, December 31, 2017 2016 a) Loan payable to a company controlled by a former director of the Company, plus accrued interest payable of $256,683 (2016 - $236,584), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at any time convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. Each warrant is exercisable for a period of 2 years from the date of conversion at a price ranging from $0.05 to $0.23. The principal sum of $163,766 may be converted into 2,320,858 units. Upon conversion of this loan, the $73,685 fair value of the warrants, as measured at inception, will be recognized as an interest expense and credited to additional paid-in capital. $ 163,766 $ 163,766 b) Loan payable to a company controlled by a director of the Company, plus accrued interest of $386,825 (2016 - $356,133), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at any time convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. Each warrant is exercisable for a period of 2 years from the date of conversion at a price ranging from $0.05 to $0.12. The principal sum of $255,209 may be converted into 4,526,436 units. Upon conversion of this loan, the $113,338 fair value of the warrants, as measured at inception, will be recognized as an interest expense and credited to additional paid-in capital. 255,209 255,209 Total Convertible Notes Payable related parties $ 418,975 $ 418,975 |
Equity
Equity | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Equity | 6. Equity During the six months ended June 30, 2017, and the year ended December 31, 2016, the Company did not issue any common shares. |
Stock-based Compensation
Stock-based Compensation | 6 Months Ended |
Jun. 30, 2017 | |
Equity [Abstract] | |
Stock-based Compensation | 7. Stock-based Compensation Stock Option Plan The Companys board of directors approved a stock option plan. Under the plan directors, employees and consultants may be granted options to purchase common stock of the Company at a price of not less than 100% of the fair market value of the stock. The total number of options granted must not exceed 15% of the outstanding common stock of the Company. The plan expired on July 1, 2017. No options were granted and no compensation expense was recorded during the periods ended June 30, 2017 and 2016. The fair value of each option grant was estimated on the date of the grant using the Black-Scholes option valuation model. The Black-Scholes option valuation model requires the input of highly subjective assumptions including the expected price volatility. Changes in the subjective input assumptions can materially affect the fair value estimate and therefore the Black-Scholes model does not necessarily provide a reliable single measure of the fair value of the Companys share purchase options. As at June 30, 2017, the Company had share purchase options outstanding as follows: Expiry Date Exercise Price Remaining Contractual Life Number of Options October 15, 2017 $0.10 0.29 years 1,200,000 January 16, 2018 $0.12 0.55 years 2,940,000 Total options outstanding 0.47 years 4,140,000 At June 30, 2017, all the outstanding share purchase options were exercisable. |
Related Party Transactions
Related Party Transactions | 6 Months Ended |
Jun. 30, 2017 | |
Related Party Transactions [Abstract] | |
Related Party Transactions | 8. Related Party Transactions At June 30, 2017, accounts payable includes $71,737 due to a director, to a former director, and a company controlled by a director of the Company, in respect of unpaid management fees, expenses incurred on behalf of the Company, and operating costs paid on behalf of the Company. At June 30, 2017, accrued interest includes $665,644 due to companies controlled by a director and a former director of the Company. During the period ended June 30, 2017, the Company paid or accrued management fees of $48,000 to two directors. |
Commitments
Commitments | 6 Months Ended |
Jun. 30, 2017 | |
Commitments and Contingencies Disclosure [Abstract] | |
Commitments | 9. Commitments Skytower: On August 9, 2016, SIII entered into a Securities Purchase Agreement (the Kayu Agreement) to acquire 60% of the issued capital stock Kayu Tekstil Sanayi Ve Ticaret Limited Sirketi (Kayu), a Turkish company, from Najibi Investment Trading FZC (hereinafter Najibi), G7 Entertainment Incorporated, (hereinafter G7), Royaltun General Trading LLC., (hereinafter Royaltun), and Soha Investment Inc., (hereinafter Soha) (jointly hereinafter the Shareholders). In consideration for the Kayu shares, the Company agreed to issue convertible debentures in the amount of $30,205,939 to the Shareholders of Kayu. This is a related party transaction as Mr. Abbas Salih is a Director and Officer, as well as the controlling shareholder, of SIII and has an ownership interest in and/or control of the Shareholders. Kayu has an agreement to acquire the Skytower Hotel Atayol in Akcakoca, Turkey (the Skytower Property), subject to the successful discharge of a debt on the Skytower Property and the transfer of title to Kayu. Upon discharge of the debt on the Skytower Property, the Company will issue convertible debentures in the amount of $12,656,768 to Najibi, a Company that settled the existing debt on the Skytower Property. Upon transfer of the Skytower Property title to Kayu, the Company will issue convertible debentures in the amount of $20,137,293 to a shareholder of Kayu to acquire the remaining 40% of the capital stock of Kayu. Upon completion of these transactions, SIII will own 100% of Kayu. The Company has the right to terminate the agreements to acquire the issued capital stock of Kayu and cancel the associated convertible debentures if the vendors do not complete certain closing conditions. As of the filing date, the closing conditions in the Kayu agreement have not yet been met, and the convertible debentures have not been issued to the Shareholders. Marriott: In August 2016, the Company entered into agreements to acquire 50% of the issued capital stock of Par-San Turizm A.S. (Par-San), a Turkish company that is the owner of a Marriott Renaissance Hotel in Izmir, Turkey (the Marriott). In consideration for the Par-San shares, the Company agreed to issue convertible debentures in the amount of $44,365,532 to Najibi Investment Trading FZC, G7 Entertainment Incorporated, SOHA Investment & Partners, and Royaltun General Trading L.L.C. (collectively Shareholders), the shareholders of Par-San. On October 14, 2016, the Company and the Shareholders mutually agreed to terminate their agreements and cancel the associated convertible debentures. At the same time, the Company and the Shareholders entered into new agreements to acquire 50% of the issued capital stock of Par-San. In consideration for the Par-San shares, the Company agreed to issue convertible debentures in the amount of $47,400,000 to the Shareholders. This is a related party transaction as Mr. Abbas Salih is a Director and Officer, as well as the controlling shareholder, of SIII and has an ownership interest in and/or control of the Shareholders. The closing of the new agreement is subject to certain conditions, which have not yet been met. The Company has the right to terminate the new agreements and cancel the associated debentures if the closing conditions are not met in a reasonable amount of time. All of the above mentioned convertible debentures have the following terms: a) Non-interest bearing. b) Mature on December 31, 2021 (the Maturity Date). c) At any time prior to the Maturity Date, the convertible debenture holder may convert the debenture into common stock of the Company at a price of $1.00 per share. d) The convertible debenture will automatically convert into common stock upon the closing price of the Companys common stock closing above $1.00 per share for 20 consecutive trading days. The Company has not yet determined the accounting treatment for the above mentioned series of transactions. |
Subsequent Event
Subsequent Event | 6 Months Ended |
Jun. 30, 2017 | |
Subsequent Events [Abstract] | |
Subsequent Event | 10. Subsequent Events Subsequent to June 30, 2017: a) The Company was advanced $3,564 by a director to pay certain service providers. The advance is unsecured, non-interest bearing and repayable on demand. b) The Company agreed to issue 1,680,000 restricted common shares at $0.05 per share, for a total consideration of $84,000, as partial settlement of debts due to a director of the Company, in respect of unpaid management fees payable totaling $45,000, plus $39,000 of loans payable. These shares have not yet been issued. |
Loans payable - related parti16
Loans payable - related parties (tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Loans payable - related parties | 4. Loans payable related parties June 30, December 31, 2017 2016 a) Loan payable to a company controlled by a director of the Company plus accrued interest of $22,136 (2016 - $20,488). The loan is unsecured, bearing interest at 12% per annum and is repayable on demand. $ 6,802 $ 6,802 b) Loans payable to a company controlled by a director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. 326,075 325,521 c) Loans payable to a company controlled by a former director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. 7,477 7,295 d) Loans payable to a director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. 68,512 46,288 Total Loans Payable related parties $ 408,866 $ 385,906 |
Convertible Loans Payable - r17
Convertible Loans Payable - related parties (tables) | 6 Months Ended |
Jun. 30, 2017 | |
Notes to Financial Statements | |
Convertible Loans Payable - related parties (tables) | 5. Convertible Loans Payable related parties June 30, December 31, 2017 2016 a) Loan payable to a company controlled by a former director of the Company, plus accrued interest payable of $256,683 (2016 - $236,584), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at any time convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. Each warrant is exercisable for a period of 2 years from the date of conversion at a price ranging from $0.05 to $0.23. The principal sum of $163,766 may be converted into 2,320,858 units. Upon conversion of this loan, the $73,685 fair value of the warrants, as measured at inception, will be recognized as an interest expense and credited to additional paid-in capital. $ 163,766 $ 163,766 b) Loan payable to a company controlled by a director of the Company, plus accrued interest of $386,825 (2016 - $356,133), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at any time convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. Each warrant is exercisable for a period of 2 years from the date of conversion at a price ranging from $0.05 to $0.12. The principal sum of $255,209 may be converted into 4,526,436 units. Upon conversion of this loan, the $113,338 fair value of the warrants, as measured at inception, will be recognized as an interest expense and credited to additional paid-in capital. 255,209 255,209 Total Convertible Notes Payable related parties $ 418,975 $ 418,975 |
Stock-based Compensation (table
Stock-based Compensation (tables) | 6 Months Ended |
Jun. 30, 2017 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Stock-based Compensation (tables) | As at June 30, 2017, the Company had share purchase options outstanding as follows: Expiry Date Exercise Price Remaining Contractual Life Number of Options October 15, 2017 $0.10 0.29 years 1,200,000 January 16, 2018 $0.12 0.55 years 2,940,000 Total options outstanding 0.47 years 4,140,000 |
Going Concern (Details Narrativ
Going Concern (Details Narrative) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Organization, Consolidation and Presentation of Financial Statements [Abstract] | ||
Accumulated Deficit | $ 13,966,635 | $ 13,802,715 |
Working Capital Deficiency | 1,769,719 | $ 1,605,799 |
Funds Needed, over next 12 months | 93,000 | |
Current Obligations | $ 1,770,100 |
Convertible Loan Payable (Detai
Convertible Loan Payable (Detail) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Debt Disclosure [Abstract] | ||
Convertible note payable | $ 50,000 | $ 50,000 |
Loans payable (Details)
Loans payable (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Loans Payable Details | ||
Loan payable to a company controlled by a director of the Company plus accrued interest of $19,686 (2015 - $17,437). The loan is unsecured, bearing interest at 12% per annum and is repayable on demand. | $ 6,802 | $ 6,802 |
Loans payable to a company controlled by a director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. | 326,075 | 325,521 |
Loans payable to a company controlled by a former director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. | 7,477 | 7,295 |
Loans payable to a director of the Company. The loans are unsecured, non-interest bearing, and repayable upon demand. | 68,512 | 46,288 |
Total Loans Payable - related parties | $ 408,866 | $ 385,906 |
Convertible Loans Payable - r22
Convertible Loans Payable - related parties (Details) - USD ($) | Jun. 30, 2017 | Dec. 31, 2016 |
Convertible Loans Payable - Related Parties Details | ||
Loan payable to a company controlled by a former director of the Company, plus accrued interest payable of $226,741 (2015 - $198,835), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at anytime convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant | $ 163,766 | $ 163,766 |
Loan payable to a company controlled by a director of the Company, plus accrued interest of $341,103 (2015 - $298,488), pursuant to a Convertible Loan Agreement. The loan is unsecured, bearing interest at 10% per annum and is repayable on demand. The lender may at anytime convert the principal sum into units of the Company. Each unit will consist of one common share plus one common share purchase warrant. | 255,209 | 255,209 |
Total Convertible Notes Payable - related parties | $ 418,975 | $ 418,975 |
Related Party Transactions (Det
Related Party Transactions (Details Narrative) - USD ($) | 3 Months Ended | 6 Months Ended | |||
Jun. 30, 2017 | Jun. 30, 2016 | Jun. 30, 2017 | Jun. 30, 2016 | Dec. 31, 2016 | |
Related Party Transactions [Abstract] | |||||
Accounts Payable | $ 71,737 | $ 71,737 | |||
Accrued Interest | 665,644 | 665,644 | $ 613,205 | ||
Management fees | $ 46,000 | $ 1,000 | $ 48,000 | $ 2,000 |