Content analysis
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Legalese | ||
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H.S. freshman Bad
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New words:
derived, grant, hedging, incremental, October, private, proposed, region, small
Removed:
decrease, Europe, offset, part
Financial report summary
?Management Discussion
- The Fund had a net income of $39 thousand and $69 thousand for the respective three and nine month periods ended September 30, 2019.
- Total revenues were $625 thousand for the quarter and $1.7 million for the year to date. Such revenues were primarily derived from operating lease rents and gains on sales of lease assets. Operating lease rents for the quarter were $566 thousand and $1.6 million for the year to date period; the gain on sales of operating leases was $55 thousand for the current quarter and $87 thousand for the year to date. Compared to prior periods, revenues have been declining consistent with a fund in its liquidating stage where lease assets are sold as lease commitments end.
- Total operating expenses were $586 thousand for the quarter and $1.7 million for the year to date. The main components of such net operating expense were marine vessel maintenance fees, impairment losses on equipment, depreciation of operating lease assets, cost reimbursements to Managing Member and affiliates, and in professional fees.