Document And Entity Information
Document And Entity Information - shares | 9 Months Ended | |
Sep. 30, 2018 | Nov. 09, 2018 | |
Document Information [Line Items] | ||
Entity Registrant Name | ENTERPRISE DIVERSIFIED, INC. | |
Entity Central Index Key | 1,096,934 | |
Trading Symbol | syte | |
Current Fiscal Year End Date | --12-31 | |
Entity Filer Category | Non-accelerated Filer | |
Entity Current Reporting Status | Yes | |
Entity Emerging Growth Company | false | |
Entity Small Business | true | |
Entity Common Stock, Shares Outstanding (in shares) | 2,544,776 | |
Document Type | 10-Q | |
Document Period End Date | Sep. 30, 2018 | |
Document Fiscal Year Focus | 2,018 | |
Document Fiscal Period Focus | Q3 | |
Amendment Flag | false |
Condensed Consolidated Balance
Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Current Assets | ||
Cash and cash equivalents | $ 284,593 | $ 3,297,059 |
Accounts receivable, net | 431,970 | 396,880 |
Note receivable | 226,000 | |
Other current assets | 249,999 | 150,390 |
Total current assets | 966,562 | 4,070,329 |
Real estate - held for investment, net | 11,407,995 | 616,374 |
Real estate - held for resale | 211,453 | 199,117 |
Property and equipment, net | 3,867,228 | 331,299 |
Goodwill, net | 1,991,994 | 1,991,994 |
Note receivable | 165,444 | |
Non-current investments, at fair value | 10,519,544 | 10,008,902 |
Other assets | 80,216 | 98,788 |
Total non-current assets | 28,243,874 | 13,246,474 |
Total assets | 29,210,436 | 17,316,803 |
Current Liabilities | ||
Accounts payable | 444,090 | 262,065 |
Accrued bonus | 43,027 | 188,947 |
Accrued expenses | 178,866 | 141,126 |
Deferred revenue | 213,383 | 269,134 |
Notes payable, current | 1,501,764 | 370,802 |
Total current liabilities | 2,381,130 | 1,232,074 |
Notes payable | 7,271,347 | 194,074 |
Total long-term liabilities | 7,271,347 | 194,074 |
Total liabilities | 9,652,477 | 1,426,148 |
Stockholders' equity | ||
Preferred stock, $0.001 par value, 30,000,000 shares authorized; none issued | ||
Common stock, $0.125 par value, 2,800,000 and 2,400,000 shares authorized; 2,625,282 and 2,356,246 shares issued; 2,544,776 and 2,262,672 shares outstanding | 328,160 | 294,527 |
Additional paid-in-capital | 27,718,308 | 23,538,493 |
Treasury stock, at cost, 80,506 and 93,574 common shares | (511,901) | (544,571) |
Accumulated other comprehensive income | 3,054 | 3,054 |
Accumulated deficit | (7,768,823) | (7,400,848) |
Total stockholders' equity attributable to Enterprise Diversified, Inc. Stockholders | 19,768,798 | 15,890,655 |
Noncontrolling interest in consolidated subsidiaries | 210,839 | |
Total stockholders' equity | 19,557,959 | 15,890,655 |
Total liabilities and stockholders' equity | $ 29,210,436 | $ 17,316,803 |
Condensed Consolidated Balanc_2
Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - $ / shares | Sep. 30, 2018 | Dec. 31, 2017 |
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) | 2,800,000 | 2,400,000 |
Common Stock Shares Issued (in shares) | 2,625,282 | 2,356,246 |
Common Stock Shares Outstanding (in shares) | 2,544,776 | 2,262,672 |
Common Shares Treasury Stock (in shares) | 80,506 | 93,574 |
Unaudited Condensed Consolidate
Unaudited Condensed Consolidated Statements Of Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Revenues | $ 1,855,825 | $ 2,686,083 | $ 4,764,666 | $ 7,041,540 |
Cost of revenues | 834,752 | 1,263,672 | 2,469,315 | 3,809,602 |
Gross profit (loss) | 1,021,073 | 1,422,411 | 2,295,351 | 3,231,938 |
Selling, general and administrative expenses | 874,534 | 606,378 | 2,748,165 | 1,909,650 |
Total operating expenses | 874,534 | 606,378 | 2,748,165 | 1,909,650 |
Income (loss) from operations | 146,539 | 816,033 | (452,814) | 1,322,288 |
Other (loss) income, net | (125,557) | (8,877) | (295,598) | 120,760 |
Income (loss) before income taxes | 20,982 | 807,156 | (748,412) | 1,443,048 |
Income tax benefit (expense) | ||||
Net income (loss) | 20,982 | 807,156 | (748,412) | 1,443,048 |
Less: net income (loss) attributable to the noncontrolling interest | 8,601 | (380,437) | ||
Net income (loss) attributable to Enterprise Diversified, Inc. stockholders | $ 12,381 | $ 807,156 | $ (367,975) | $ 1,443,048 |
Earnings (loss) per share, basic (in dollars per share) | $ 0 | $ 0.36 | $ (0.15) | $ 0.66 |
Earnings (loss) per share, diluted (in dollars per share) | $ 0 | $ 0.36 | $ (0.15) | $ 0.66 |
Weighted average number of shares, basic (in shares) | 2,540,416 | 2,262,672 | 2,433,340 | 2,178,643 |
Weighted average number of shares, diluted (in shares) | 2,540,416 | 2,262,672 | 2,433,340 | 2,178,643 |
Asset Management [Member] | ||||
Revenues | $ 330,112 | $ 715,598 | $ 522,044 | $ 1,320,808 |
Cost of revenues | ||||
Gross profit (loss) | 330,112 | 715,598 | 522,044 | 1,320,808 |
Total operating expenses | 107,538 | 41,544 | 170,979 | 79,855 |
Other (loss) income, net | 11,075 | 33,225 | ||
Real Estate [Member] | ||||
Revenues | 220,600 | 592,583 | ||
Cost of revenues | 107,527 | 342,449 | ||
Gross profit (loss) | 113,073 | 250,134 | ||
Total operating expenses | 275,414 | 762,074 | ||
Other (loss) income, net | (137,406) | (368,800) | ||
Home Service [Member] | ||||
Revenues | 995,867 | 1,332,239 | 2,641,373 | 3,526,913 |
Cost of revenues | 608,767 | 875,991 | 1,731,750 | 2,307,902 |
Gross profit (loss) | 387,100 | 456,248 | 909,623 | 1,219,011 |
Total operating expenses | 302,233 | 322,639 | 972,129 | 1,109,926 |
Other (loss) income, net | (1,613) | (13,928) | (12) | (20,311) |
Internet Operations [Member] | ||||
Revenues | 288,312 | 314,202 | 887,635 | 977,629 |
Cost of revenues | 86,658 | 81,144 | 238,385 | 237,098 |
Gross profit (loss) | 201,654 | 233,058 | 649,250 | 740,531 |
Total operating expenses | 58,475 | 61,299 | 191,443 | 212,267 |
Other (loss) income, net | 479 | 656 | 32,898 | 57,736 |
Product and Service, Other [Member] | ||||
Revenues | 20,934 | 324,044 | 121,031 | 1,216,190 |
Cost of revenues | 31,800 | 306,537 | 156,731 | 1,264,602 |
Gross profit (loss) | (10,866) | 17,507 | (35,700) | (48,412) |
Total operating expenses | 130,874 | 180,896 | 651,540 | 507,602 |
Other (loss) income, net | $ 1,908 | $ 4,395 | $ 7,091 | $ 83,335 |
Unaudited Condensed Consolida_2
Unaudited Condensed Consolidated Statements Of Comprehensive Income - USD ($) | 3 Months Ended | 9 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | |
Net (loss) income | $ 20,982 | $ 807,156 | $ (748,412) | $ 1,443,048 |
Change in foreign currency translation adjustments | ||||
Change in unrealized gains related to available-for-sale securities: | ||||
Change in fair value of available-for-sale securities | 10,068 | 20,664 | ||
Adjustment for net (gains)/losses realized and included in net income | (76,935) | |||
Total change in unrealized gains/losses on available-for-sale securities | 10,068 | (56,271) | ||
Other comprehensive income (loss), net of tax: | 10,068 | (56,271) | ||
Comprehensive income (loss) | 20,982 | 817,224 | (748,412) | 1,386,777 |
Less: comprehensive income (loss) attributable to the noncontrolling interest | 8,601 | (380,437) | ||
Comprehensive income (loss) income attributable to Enterprise Diversified, Inc. stockholders | $ 12,381 | $ 817,224 | $ (367,975) | $ 1,386,777 |
Unaudited Condensed Consolida_3
Unaudited Condensed Consolidated Statements of Stockholders' Equity - USD ($) | Previously Reported [Member]Common Stock [Member] | Previously Reported [Member]Additional Paid-in Capital [Member] | Previously Reported [Member]Treasury Stock [Member] | Previously Reported [Member]AOCI Attributable to Parent [Member] | Previously Reported [Member]Retained Earnings [Member] | Previously Reported [Member]Noncontrolling Interest [Member] | Previously Reported [Member] | Common Stock [Member] | Additional Paid-in Capital [Member] | Treasury Stock [Member] | AOCI Attributable to Parent [Member] | Retained Earnings [Member] | Noncontrolling Interest [Member] | Total |
Balance (in shares) at Dec. 31, 2016 | 1,521,872 | 1,522,672 | ||||||||||||
Balance at Dec. 31, 2016 | $ 204,152 | $ 19,096,858 | $ (637,561) | $ 39,343 | $ (9,542,763) | $ 9,160,029 | $ 204,152 | $ 19,096,858 | $ (637,561) | $ 39,343 | $ (9,542,763) | $ 9,160,029 | ||
Opening balance adjustment (in shares) at Dec. 31, 2016 | 800 | |||||||||||||
Net (loss) income | 2,141,915 | 2,141,915 | ||||||||||||
Contributed capital (in shares) | 740,000 | |||||||||||||
Contributed capital | $ 92,500 | 4,532,500 | 4,625,000 | |||||||||||
Unrealized gain on investments | (36,289) | (36,289) | ||||||||||||
Adjustment for share cancellation | $ (2,125) | (90,865) | 92,990 | |||||||||||
Balance (in shares) at Dec. 31, 2017 | 2,262,672 | 2,356,246 | ||||||||||||
Balance at Dec. 31, 2017 | $ 294,527 | 23,538,493 | (544,571) | 3,054 | (7,400,848) | $ 15,890,655 | ||||||||
Net (loss) income | (367,975) | (380,437) | (748,412) | |||||||||||
Contributed capital (in shares) | 268,760 | |||||||||||||
Contributed capital | $ 33,595 | 4,032,240 | 4,065,835 | |||||||||||
Initial accounting of VIE | 4,047,623 | 4,047,623 | ||||||||||||
Net equity distribution for asset acquisition | (3,878,025) | (3,878,025) | ||||||||||||
Sale of treasury stock (in shares) | 13,068 | |||||||||||||
Sale of treasury stock | 147,613 | 32,670 | 180,283 | |||||||||||
Adjustment for rounding of reverse stock split | $ 38 | (38) | ||||||||||||
Balance (in shares) at Sep. 30, 2018 | 2,544,776 | 2,625,282 | ||||||||||||
Balance at Sep. 30, 2018 | $ 328,160 | $ 27,718,308 | $ (511,901) | $ 3,054 | $ (7,768,823) | $ (210,839) | $ 19,557,959 |
Unaudited Condensed Consolida_4
Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | ||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Cash flows from operating activities: | |||||
Net (loss) income | $ 20,982 | $ 807,156 | $ (748,412) | $ 1,443,048 | $ 2,141,915 |
Adjustments to reconcile net income to net cash provided by operating activities: | |||||
Depreciation | 278,891 | 82,309 | |||
Gain on sale of investments | (76,935) | ||||
Gain on non-current investments | (493,480) | (1,317,983) | |||
Bad debt expense | 63,824 | 63,824 | 15,281 | 28,986 | |
Real estate valuation adjustment | 64,038 | 58,742 | |||
Collection of operating notes receivable | 226,000 | ||||
Loss on sale of real estate | 11,931 | 42,938 | |||
Loss on disposal of property and equipment | 11,770 | 8,110 | |||
(Increase) decrease in: | |||||
Accounts receivable, net | (98,914) | (283,653) | |||
Other current assets | (99,609) | (80,387) | |||
Increase (decrease) in: | |||||
Accounts payable | 182,025 | 102,774 | |||
Accrued expenses | (108,180) | 94,907 | |||
Deferred revenue | (55,751) | 24,850 | |||
Accrued mortgage interest | 167,899 | ||||
Net cash flows from operating activities | (597,968) | 114,001 | |||
Cash flows from investing activities: | |||||
Issuance of notes receivable | (165,444) | ||||
Proceeds from sale of marketable securities | 486,175 | ||||
Purchases of marketable securities | (17,162) | ||||
Net purchases and sales of real estate | (202,975) | 821,307 | |||
Improvements to real estate | (1,911,635) | (100,596) | |||
Proceeds from sale of domain names | 29,163 | 200,000 | |||
Purchases of property and equipment | (959,410) | (34,392) | |||
Proceeds from sale of property and equipment | 1,950 | ||||
Capitalized loan fees | (10,591) | (5,375) | |||
Subsidiary acquisitions | (552,644) | (8,711,772) | |||
Net cash flows from investing activities | (3,788,748) | (7,344,653) | |||
Cash flows from financing activities: | |||||
Principal payments on note payable | (627,606) | (277,088) | |||
Proceeds from notes payable | 1,821,573 | 427,237 | |||
Proceeds from issuance of common stock | 180,283 | 4,625,000 | |||
Net cash flows from financing activities | 1,374,250 | 4,775,149 | |||
Net increase (decrease) in cash | (3,012,466) | (2,455,503) | |||
Cash and cash equivalents at beginning of the period | 3,297,059 | 2,607,370 | 2,607,370 | ||
Cash and cash equivalents at end of the period | $ 284,593 | $ 151,867 | 284,593 | 151,867 | $ 3,297,059 |
Non-cash and other supplemental information: | |||||
Assets and debt consolidated as part of subsidiary acquisition | 1,006,600 | ||||
Assumption of debt in subsidiary acquisition | 4,565,277 | ||||
Asset acquisition equity activity | 4,065,834 | ||||
Cash paid for interest | 266,140 | ||||
Real estate held for investment acquired through debt obligations | 1,383,339 | ||||
Issuance of note receivable on sale of real estate held for sale | 226,000 | ||||
Transfer of real estate held for investment to real estate held for resale | 145,406 | ||||
Transfer of real estate held for resale to real estate held for investment | 125,000 | ||||
Transfer of other current assets to investments | 2,500,000 | ||||
HVAC equipment acquired through debt obligations | 60,752 | 172,990 | |||
HVAC acquisitions through notes payable | 100,000 | ||||
Adjustments of goodwill due to seller not meeting carryback obligations | 29,504 | ||||
Unrealized loss on marketable securities reported as other comprehensive income | $ 56,271 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
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, July 23, 2018, The Company operates through five not one Asset Management Operations Enterprise Diversified, Inc. created a wholly-owned asset management subsidiary on October 10, 2016, As previously reported in our Current Reports on Form 8 September 19, 2016, December 30, 2016, $10 January 1, 2017. may not five January 1, December 15, 2017, $3.0 Willow Oak signed a fee share agreement on June 13, 2017, not 50% On August 1, 2018, third may September 30, 2018, ● Steven L. Kiel, pursuant to a fee share agreement dated June 25, 2018. October 5, 2018. * ● JDP Capital Management, LLC, pursuant to a fee share agreement dated June 15, 2018. * ● Coolidge Capital Management, LLC, pursuant to a fee share agreement dated June 25, 2018. * * These related-party transactions were considered and approved by the Audit Committee of the Board of Directors of the Company, acting unanimously, on May 19 , 2018. Real Estate Operations As previously reported in our Current Reports on Form 8 December 11, 2017, January 17, 2018, March 2, 2018, March 28, 2018, July 12, 2018, January 10, 2018, December 10, 2017 8 January 17, 2018, January 10, 2018, first 44 8 July 12, 2018, June 29, 2018, second 69 first second 2017 01. 3 Subsequent to the quarterly period ended September 30, 2018, 8 November 5, 2018, November 1, 2018 November 1, 2018. third November 1, 2018 Home Services Operations The Company operates its home services segment through HVAC Value Fund, LLC. HVAC Value Fund is focused on the acquisition and management of HVAC and plumbing companies in Arizona. As previously reported in our Current Report on Form 8 June 14, 2016, third June 13, 2016. May 18, 2018, June 13, 2016. 100% not not As of September 30, 2018, six $2.02 $336,000. six September 30, 2018. 8 June 14, 2016, six Internet Operations The Company operates its internet segment through Sitestar.net, a wholly-owned subsidiary that offers consumer and business-grade internet access, wholesale managed modem services, web hosting, and various ancillary services. Sitestar.net provides services to customers in the United States and Canada. Other Operations Other operations include legacy real estate, investment activity, and other corporate activity that is not one not EDI Real Estate ENDI created a wholly owned real estate subsidiary on July 10, 2017, September 30, 2018, nine one September 30, 2018, $26,000. October 2018. third Huckleberry Real Estate Fund As previously reported in our Current Report on Form 8 January 30, 2017, $750,000. May 14, 2018, 8 Triad DIP Investors On August 24, 2017, third third $100,000. April 27, 2018 $55,000 May 18, 2018. 10% no April 29, 2020, 2.5% April 28, 2018, 450,000 $0.01 Corporate The corporate segment includes 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 consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries including: Willow Oak Asset Management, LLC, Mt Melrose, LLC (“New Mt Melrose”), HVAC Value Fund, LLC, Sitestar.net, Inc., and EDI Real Estate, LLC. Additionally, the Company has determined that as of September 30, 2018, not 3 All intercompany accounts and transactions have been eliminated on consolidation. |
Note 2 - Summary of Significant
Note 2 - Summary of Significant Accounting Policies | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Significant Accounting Policies [Text Block] | NOTE 2. Basis of Presentation The unaudited condensed consolidated financial statements have been prepared by Enterprise Diversified, Inc., pursuant to the rules and regulations of the Securities and Exchange Commission (”SEC”). The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual consolidated financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles (”GAAP”) have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited consolidated financial statements and notes for the year ended December 31, 2017, 10 March 30, 2018 ( “2017 10 nine September 30, 2018, not December 31, 2018. Use of Estimates In accordance with GAAP in the United State of America, 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 those related to fair value of investments, revenue recognition, accrued expenses, financing operations, goodwill valuation, other assets, 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 and accounts receivable. The Company places its cash with high-quality financial institutions and, at times, may Investments The Company holds various recurring investments through its asset management segment. Additionally, one not not 4 During the year ended December 31, 2017, No September 30, 2018, December 31, 2017. 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 charged off to 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 charged off to the allowance for doubtful accounts when an account is individually determined to be uncollectible. Mt Melrose, LLC and EDI Real Estate, LLC rental accounts are typically paid by tenants via cash or check no fifth fifth Sales of home services are typically paid via credit card or check upon completion of service. Sales that are not not 60 Sales of internet services, which are not 90 no 30 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 does not fourth not Impairment testing of goodwill is required at the reporting unit level (operating segment or one may The Company performs an analysis of its goodwill as of December 31 may no December 31, 2017, $29,504 two not Other intangible assets consist of customer relationships, developed technology and software, trade names, and other assets acquired in conjunction with the purchases of businesses or purchases of assets from other companies. As of December 31, 2017, third The Company owns 634 107 Real Estate Real estate properties held for resale are carried at the lower of cost or fair market 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 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 Revenue Recognition Asset Management and Other Investment Revenue The Company earns revenue from investments through various fee share agreements, as well as through realized and unrealized gains and losses, which may not Management notes that the structure of these arrangements leaves a very low possibility for nonperformance. While the amount of revenue varies from month to month, collectability is very high. No Real Estate Revenue The Company earns real estate revenue through rental agreements on real estate held for investment, as well as through the sale of real estate held for resale. Rental revenue from real estate held for investment is recognized when it is earned, generally on the first not 90 not No Revenue from real estate held for resale is recognized upon closing of the sale, as all conditions for full revenue recognition have been met at that time. All costs associated with the property sold are removed from the consolidated balance sheets and charged to cost of revenue at that time. Home Services Revenue The Company performs HVAC and plumbing service repairs and installs HVAC units for its customers through its home services segment. Revenue is recognized upon completion of the installation or service call. Sales are adjusted for any returns or allowances. A return or allowance situation would arise based on the two two one If payment is received prior to contract completion, then the amount of revenue attributable to the unperformed work is designated as unearned revenue. If payment is not Management acknowledges that these performance obligations are recognized at the completion of each contract, whether it be at a point in time or over a period of time. As the customer controls the asset and has the right to use during the contract, the Company has the right to payment for performance completed to date. No Internet Revenue The Company sells internet services under annual and monthly contracts. Under the annual contracts, the subscriber pays a one No The Company generates revenue in its internet segment from consumer and business-grade internet access, wholesale managed modem services for downstream ISPs, web hosting, and various ancillary services in the United States and Canada. Services include narrow-band (dial-up and ISDN) and broadband services (DSL, fiber-optic, and wireless), web hosting, and additional related services to consumers and businesses. Customers may Income Taxes Income taxes are accounted for under the 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 bases 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, 2017, December 31, 2016, December 31, 2015, Income Per Share The basic income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding. Diluted income per common share is computed similar to basic income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of September 30, 2018, Other Comprehensive Income Other comprehensive income is the result of unrealized gains (losses) from marketable securities classified as available-for-sale. Recently Issued Accounting Pronouncements In February 2016, 2016 02, 842 2016 02 842, 2016 02 2016 02 December 15, 2018, first 2019. In August 2015, No. 2015 14, No. 2014 09, 606 one December 15, 2017. No. 2014 09 not first 2018. no no In November 2015, No. 2015 17, 740 December 15, 2017, first 2018. not In January 2016, No. 2016 01 825 10 1 2 December 15, 2017; first 2018. not In January 2017, No. 2017 01 805 not not 1 2 606. December 15, 2017; January 1, 2018. not January 2018 3 In January 2017, No. 2017 04 350 2 1 December 15, 2019, 2017 |
Note 3 - Asset Acquisition of R
Note 3 - Asset Acquisition of Real Estate Properties | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Asset Acquisitions of Real Estate Properties Disclosure [Text Block] | NOTE 3. Acquisition On December 10, 2017, Pursuant to the Purchase Agreement, the Company, through a wholly-owned limited liability company subsidiary Mt Melrose, LLC (“New Mt Melrose”), agreed to acquire, in a series of closings, substantially all of the business assets of Old Mt. Melrose. The assets primarily consisted of 145 On January 10, 2018, first 44 $3,956,389, $500,000 120,602 $1,658,270, $1,798,713 The Company accounted for the initial purchase of properties as an asset acquisition (consisting of a concentrated group of similar identifiable assets, including land, buildings, improvements, and in-place leases) following the guidance contain in ASU 2017 01. $45,250 Land $ 797,565 Buildings 3,190,262 Total Value $ 3,987,827 On June 29, 2018, second 69 $5,174,722, 148,158 $2,407,564, $2,767,158 The Company accounted for the second 2017 01. $7,394 Land $ 1,036,423 Buildings 4,145,693 Total Value $ 5,182,116 The buildings will be amortized over their estimated useful lives of 39 not As previously reported in our Current Report on Form 8 January 17, 2018, January 10, 2018 ( Additionally, in connection with the initial closing, Moore was appointed as New Mt Melrose’s president and executed an employment agreement with New Mt Melrose, as previously reported in our Current Report on Form 8 March 2, 2018. Subsequent to the quarterly period ended September 30, 2018, 8 November 5, 2018, November 1, 2018 November 1, 2018. third November 1, 2018 In addition, subsequent to the quarterly period ended September 30, 2018, 8 November 5, 2018, November 1, 2018 November 1, 2018. 8 November 1, 2018 November 1, 2018. November 1, 2018. Variable Interests As of September 30, 2018, not may January 10, 2018. September 30, 2018. not September 30, 2018. As of September 30, 2018, $1 $850,000. |
Note 4 - Investments
Note 4 - Investments | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Investment Holdings [Text Block] | NOTE 4. Certain assets held through Willow Oak Asset Management, LLC, Enterprise Diversified, Inc., or EDI Real Estate, LLC do not not 820 10. not 3 Cost Basis Accrued Fees Unrealized Gain Fair Value September 30, 2018 (unaudited) Alluvial Fund, LP $ 7,019,238 $ — $ 2,750,306 $ 9,769,544 Huckleberry Real Estate Fund II, LLC 750,000 — — 750,000 Total $ 7,769,238 $ — $ 2,750,306 $ 10,519,544 Cost Basis Accrued Fees Unrealized Gain Fair Value December 31, 2017 Alluvial Fund, LP $ 7,000,000 $ 2,077 $ 2,256,825 $ 9,258,902 Huckleberry Real Estate Fund II, LLC 750,000 — — 750,000 Total $ 7,750,000 $ 2,077 $ 2,256,825 $ 10,008,902 |
Note 5 - Fair Value of Assets a
Note 5 - Fair Value of Assets and Liabilities | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Fair Value Disclosures [Text Block] | NOTE 5. FAIR VALUE OF ASSETS AND LIABILITIES The Company has adopted FASB ASC 820, Fair Value Measurements 820 820 three ● Level 1 ● Level 2 1 2 ● Level 3 Assets and Liabilities Measured at Fair Value on a Recurring Basis The Company valued its marketable securities at fair value at the end of each reporting period. See description of these investments in Note 4 (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value September 30, 2018 (unaudited) Huckleberry Real Estate Fund II, LLC $ — $ — $ 750,000 $ — $ 750,000 Alluvial Fund, LP — — — 9,769,544 9,769,544 Total investments $ — $ — $ 750,000 $ 9,769,544 $ 10,519,544 (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value December 31, 2017 Huckleberry Real Estate Fund II, LLC — — 750,000 — 750,000 Alluvial Fund, LP — — — 9,258,902 9,258,902 Total investments $ — $ — $ 750,000 $ 9,258,902 $ 10,008,902 (a) In accordance with Subtopic 820 10, not Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The Company analyzes goodwill on an annual basis or whenever events or changes in circumstances indicate potential impairments. During the year ended December 31, 2017, $29,504 not The Company values real estate held on the balance sheet on an annual basis or whenever events or changes in circumstances indicate a change in their fair market value. For the period ended September 30, 2018, $24,038. December 31, 2017, $101,694. As discussed in Note 3, January 2018, first 44 $3,956,389. June 2018, second 69 $5,174,722. 3 |
Note 6 - Property and Equipment
Note 6 - Property and Equipment | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 6. The cost of property and equipment at September 30, 2018 December 31, 2017 2018 2017 Automobile $ 343,460 $ 264,778 Building 827,767 — Computers and equipment 206,967 162,401 Furniture and fixtures 119,875 25,206 Land 2,599,297 — 4,097,366 452,385 Less accumulated depreciation (230,138 ) (121,086 ) Property and equipment, net $ 3,867,228 $ 331,299 Depreciation expense was $39,130 three September 30, 2018, $89,516 December 31, 2017. January 10, 2018 June 29, 2018. The building held through Mt Melrose, LLC is a multi-purpose warehouse space located in Lexington, Kentucky. As of the period ended September 30, 2018, $972,767. September 30, 2018, no |
Note 7 - Real Estate
Note 7 - Real Estate | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | NOTE 7. Mt Melrose, LLC As of September 30, 2018, one t $145,406 September 30, 2018, 194 $10,800,245. 194 100 85 nine September 30, 2018, $64,908. $145,648 September 30, 2018. Subsequent to the quarterly period ended September 30, 2018, 8 November 5, 2018, November 1, 2018 3 November 1, 2018. third November 1, 2018 EDI Real Estate, LLC As of September 30, 2018, nine eight six two 2018. September 30, 2018, Depreciation expense totaled $5,304 September 30, 2018. September 30, 2018 $102,272. September 30, 2018, $607,750. As of September 30, 2018, one not September 30, 2018. September 30, 2018, $26,000. October 2018. September 30, 2018, $66,047. |
Note 8 - Notes Payable
Note 8 - Notes Payable | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Debt Disclosure [Text Block] | NOTE 8. Notes payable at September 30, 2018 December 31, 2017 2018 2017 Interest bearing amounts due on real estate held for investment through Mt Melrose, LLC $ 8,021,972 $ — Interest bearing amount due on acquisition through HVAC Value Fund, LLC — 25,000 Non-interest bearing amount due on acquisition through HVAC Value Fund, LLC — 64,804 Interest bearing amount due on line of credits through HVAC Value Fund, LLC — 220,485 Non-interest bearing amount due on line of credits through HVAC Value Fund, LLC 100,000 — Equipment and vehicle capital leases and loans acquired by HVAC Value Fund, LLC 71,201 116,987 Vehicle loans through HVAC Value Fund, LLC 56,338 — Interest bearing amount due on promissory note through EDI Real Estate, LLC 386,000 — Interest bearing amount due on real estate held for investment through EDI Real Estate, LLC 137,600 137,600 Less current portion (1,501,764 ) (370,802 ) Long-term portion $ 7,271,347 $ 194,074 The timing of future payments of notes payable are as follows: 2019 $ 658,593 2020 1,884,160 2021 24,821 2022 163,911 2023 and after 4,539,862 Total $ 7,271,347 HVAC Value Fund typically structures acquisitions where a portion of the purchase price is held back and is subject to certain conditions. These notes payable may may not six 2016 2017, five December 31, 2017, two five 7% September 30, 2018, March 31, 2018. May 2023 5.99%. During last year’s quarter ended September 30, 2017, two 6%, September 15, 2022 September 30, 2018, 5.6% September 1, 2033 Under the Cash Flow Agreement described under Note 3 3 4.375% 13%. March 2019, January 2042. September 30, 2018, $8,021,972 Subsequent to the quarterly period ended September 30, 2018, 8 November 5, 2018, November 1, 2018 November 1, 2018. not |
Note 9 - Accounts Receivable an
Note 9 - Accounts Receivable and Bad Debt Expense | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 9. For the nine September 30, 2018, December 31, 2017, $63,824 $28,986, January 10, 2018. September 30, 2018 December 31, 2017, 2018 2017 Gross accounts receivable $ 478,316 $ 399,378 Less allowance for doubtful accounts (46,346 ) (2,498 ) Accounts receivable, net $ 431,970 $ 396,880 |
Note 10 - Segment Information
Note 10 - Segment Information | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Segment Reporting Disclosure [Text Block] | NOTE 10. As of September 30, 2018, five five In previous periods, the Company reported under the following six June 30, 2018. The asset management segment includes revenues and expenses derived from various investment opportunities and partnerships. The real estate segment includes revenue and expenses related to the property management and real estate rental activities of the Mt Melrose portfolio of rental properties located in Lexington, Kentucky. The home services segment includes revenue and expenses derived from the acquisition and management of HVAC and plumbing companies in Arizona. The internet segment includes revenue and expenses related to the sale of internet access, hosting, storage, and other ancillary services. The other segment includes revenue and expenses related to the management of legacy properties held for investment and held for resale through EDI Real Estate. The other segment also includes revenue and expenses from nonrecurring investment opportunities such as Huckleberry Real Estate Fund II. LLC. Lastly, the other segment includes 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. The internet segment includes revenue generated by operations in both the United States and Canada. In the quarter ended September 30, 2018, $273,219 $15,093 September 30, 2017, $295,371 $18,831 Summarized financial information concerning the Company’s reportable segments is shown in the following tables for the three nine September 30, 2018 2017. Asset Management Real Estate Home Services Internet Other Consolidated Three months ended September 30, 2018 Revenues $ 330,112 $ 220,600 $ 995,867 $ 288,312 $ 20,934 $ 1,855,825 Cost of revenue — 107,527 608,767 86,658 31,800 834,752 Operating expenses 107,538 275,414 302,233 58,475 130,874 874,534 Other income (expense) 11,075 (137,406 ) (1,613 ) 479 1,908 (125,557 ) Comprehensive income (loss) 233,649 (299,747 ) 83,254 143,658 (139,832 ) 20,982 Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 9,806,271 14,707,356 2,577,014 381,262 1,738,533 29,210,436 Asset Management Real Estate Home Services Internet Other Consolidated Three months ended September 30, 2017 Revenues $ 715,598 $ — $ 1,332,239 $ 314,202 $ 324,044 $ 2,686,083 Cost of revenue — — 875,991 81,144 306,537 1,263,672 Operating expenses 41,544 — 322,639 61,299 180,896 606,378 Other income (expense) — — (13,928 ) 656 4,395 (8,877 ) Comprehensive income (loss) 674,054 — 119,681 172,415 (148,926 ) 817,224 Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 12,091,978 — 2,787,303 315,754 1,274,140 16,469,175 Asset Management Real Estate Home Services Internet Other Consolidated Nine months ended September 30, 2018 Revenues $ 522,044 $ 592,583 $ 2,641,373 $ 887,635 $ 121,031 $ 4,764,666 Cost of revenue — 342,449 1,731,750 238,385 156,731 2,469,315 Operating expenses 170,979 762,074 972,129 191,443 651,540 2,748,165 Other income (expense) 33,225 (368,800 ) (12 ) 32,898 7,091 (295,598 ) Comprehensive income (loss) 384,290 (880,740 ) (62,518 ) 490,705 (680,149 ) (748,412 ) Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 9,806,271 14,707,356 2,577,014 381,262 1,738,533 29,210,436 Asset Management Real Estate Home Services Internet Other Consolidated Nine months ended September 30, 2017 Revenues $ 1,320,808 $ — $ 3,526,913 $ 977,629 $ 1,216,190 $ 7,041,540 Cost of revenue — — 2,307,902 237,098 1,264,602 3,809,602 Operating expenses 79,855 — 1,109,926 212,267 507,602 1,909,650 Other income (expense) — — (20,311 ) 57,736 83,335 120,760 Comprehensive income (loss) 1,240,953 — 88,774 586,000 (528,950 ) 1,386,777 Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 12,091,978 — 2,787,303 315,754 1,274,140 16,469,175 |
Note 11 - Share Adjustment, Can
Note 11 - Share Adjustment, Cancellation and Sale of Treasury Shares, and Reverse Stock Split | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Share Adjustment, Cancellation of Treasury Shares, and Reverse Stock Split [Text Block] | NOTE 11. Adjustment to Opening Balance of Shares During the quarter ended March 31, 2017, December 31, 2016. 800 not 0.05% no Cancellation and Sale of Treasury Shares Management is working to cancel existing treasury shares. As noted on the condensed consolidated balance sheets and the condensed consolidated statements of stockholders’ equity, as of the quarter ended September 30, 2018, 17,007 On May 26, 2018, third 1,633,500 $0.11036586 July 31, 2018. 13,068 To the extent that this sale of previously registered shares held as treasury shares required an exemption from registration, this sale of shares of common stock of the Company was exempt from registration under the Securities Act of 1933 4 2 506, not Reverse Stock Split As previously reported in our Current Report on Form 8 June 7, 2018, March 29, 2018, 125 one 1 May 23, 2018, 78.209 June 1, 2018. The Company submitted an Issuer Company Related Action Notification regarding the Reverse Stock Split to the Financial Industry Regulatory Authority (“FINRA”) on May 22, 2018. July 23, 2018 ( June 1, 2018, not Split Adjustment. one hundred twenty five 125 No no not one hundred twenty five 125 Ownership Unchanged. Capitalization. three hundred fifty million 350,000,000 $.001 thirty million 30,000,000 $.001 two million eight hundred thousand 2,800,000 $.125 thirty million 30,000,000 $.001 CUSIP Number and Trading Symbol 293706 107. 20 20 |
Note 12 - Subsequent Events
Note 12 - Subsequent Events | 9 Months Ended |
Sep. 30, 2018 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | NOTE 12. Changes in Officers As previously reported in our Current Report on Form 8 October 9, 2018, October 5, 2018. not November 8, 2018. not October 5, 2018, October 5, 2018, Mt Melrose, LLC Matters As previously reported in our Current Report on Form 8 November 5, 2018, November 1, 2018 3 November 1, 2018. third November 1, 2018 In addition, and as also previously reported in our Current Report on Form 8 November 5, 2018, November 1, 2018 3 November 1, 2018. As also previously reported in our Current Report on Form 8 November 5, 2018, November 1, 2018 November 1, 2018. November 1, 2018. third Services Agreement with Arquitos The Company’s wholly-owned subsidiary, Willow Oak Asset Management, LLC (“Willow Oak”) entered into as of November 1, 2018 third one one one October 17 2018. Management has evaluated all other subsequent events from September 30, 2018, November 13, 2018, no |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 9 Months Ended |
Sep. 30, 2018 | |
Accounting Policies [Abstract] | |
Organization and Lines Of Business [Policy Text Block] | 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, July 23, 2018, The Company operates through five not one Asset Management Operations Enterprise Diversified, Inc. created a wholly-owned asset management subsidiary on October 10, 2016, As previously reported in our Current Reports on Form 8 September 19, 2016, December 30, 2016, $10 January 1, 2017. may not five January 1, December 15, 2017, $3.0 Willow Oak signed a fee share agreement on June 13, 2017, not 50% On August 1, 2018, third may September 30, 2018, ● Steven L. Kiel, pursuant to a fee share agreement dated June 25, 2018. October 5, 2018. * ● JDP Capital Management, LLC, pursuant to a fee share agreement dated June 15, 2018. * ● Coolidge Capital Management, LLC, pursuant to a fee share agreement dated June 25, 2018. * * These related-party transactions were considered and approved by the Audit Committee of the Board of Directors of the Company, acting unanimously, on May 19 , 2018. Real Estate Operations As previously reported in our Current Reports on Form 8 December 11, 2017, January 17, 2018, March 2, 2018, March 28, 2018, July 12, 2018, January 10, 2018, December 10, 2017 8 January 17, 2018, January 10, 2018, first 44 8 July 12, 2018, June 29, 2018, second 69 first second 2017 01. 3 Subsequent to the quarterly period ended September 30, 2018, 8 November 5, 2018, November 1, 2018 November 1, 2018. third November 1, 2018 Home Services Operations The Company operates its home services segment through HVAC Value Fund, LLC. HVAC Value Fund is focused on the acquisition and management of HVAC and plumbing companies in Arizona. As previously reported in our Current Report on Form 8 June 14, 2016, third June 13, 2016. May 18, 2018, June 13, 2016. 100% not not As of September 30, 2018, six $2.02 $336,000. six September 30, 2018. 8 June 14, 2016, six Internet Operations The Company operates its internet segment through Sitestar.net, a wholly-owned subsidiary that offers consumer and business-grade internet access, wholesale managed modem services, web hosting, and various ancillary services. Sitestar.net provides services to customers in the United States and Canada. Other Operations Other operations include legacy real estate, investment activity, and other corporate activity that is not one not EDI Real Estate ENDI created a wholly owned real estate subsidiary on July 10, 2017, September 30, 2018, nine one September 30, 2018, $26,000. October 2018. third Huckleberry Real Estate Fund As previously reported in our Current Report on Form 8 January 30, 2017, $750,000. May 14, 2018, 8 Triad DIP Investors On August 24, 2017, third third $100,000. April 27, 2018 $55,000 May 18, 2018. 10% no April 29, 2020, 2.5% April 28, 2018, 450,000 $0.01 Corporate The corporate segment includes 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. |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries including: Willow Oak Asset Management, LLC, Mt Melrose, LLC (“New Mt Melrose”), HVAC Value Fund, LLC, Sitestar.net, Inc., and EDI Real Estate, LLC. Additionally, the Company has determined that as of September 30, 2018, not 3 All intercompany accounts and transactions have been eliminated on consolidation. |
Basis of Accounting, Policy [Policy Text Block] | Basis of Presentation The unaudited condensed consolidated financial statements have been prepared by Enterprise Diversified, Inc., pursuant to the rules and regulations of the Securities and Exchange Commission (”SEC”). The information furnished herein reflects all adjustments (consisting of normal recurring accruals and adjustments), which are, in the opinion of management, necessary to fairly present the operating results for the respective periods. Certain information and footnote disclosures normally present in annual consolidated financial statements prepared in accordance with U.S. Generally Accepted Accounting Principles (”GAAP”) have been omitted pursuant to such rules and regulations. These financial statements should be read in conjunction with the audited consolidated financial statements and notes for the year ended December 31, 2017, 10 March 30, 2018 ( “2017 10 nine September 30, 2018, not December 31, 2018. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates In accordance with GAAP in the United State of America, 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 those related to fair value of investments, revenue recognition, accrued expenses, financing operations, goodwill valuation, other assets, 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 and accounts receivable. The Company places its cash with high-quality financial institutions and, at times, may |
Investment, Policy [Policy Text Block] | Investments The Company holds various recurring investments through its asset management segment. Additionally, one not not 4 During the year ended December 31, 2017, No September 30, 2018, December 31, 2017. |
Trade and Other Accounts Receivable, Policy [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 charged off to 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 charged off to the allowance for doubtful accounts when an account is individually determined to be uncollectible. Mt Melrose, LLC and EDI Real Estate, LLC rental accounts are typically paid by tenants via cash or check no fifth fifth Sales of home services are typically paid via credit card or check upon completion of service. Sales that are not not 60 Sales of internet services, which are not 90 no 30 |
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 does not fourth not Impairment testing of goodwill is required at the reporting unit level (operating segment or one may The Company performs an analysis of its goodwill as of December 31 may no December 31, 2017, $29,504 two not Other intangible assets consist of customer relationships, developed technology and software, trade names, and other assets acquired in conjunction with the purchases of businesses or purchases of assets from other companies. As of December 31, 2017, third The Company owns 634 107 |
Real Estate, Policy [Policy Text Block] | Real Estate Real estate properties held for resale are carried at the lower of cost or fair market 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 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 |
Revenue Recognition, Policy [Policy Text Block] | Revenue Recognition Asset Management and Other Investment Revenue The Company earns revenue from investments through various fee share agreements, as well as through realized and unrealized gains and losses, which may not Management notes that the structure of these arrangements leaves a very low possibility for nonperformance. While the amount of revenue varies from month to month, collectability is very high. No Real Estate Revenue The Company earns real estate revenue through rental agreements on real estate held for investment, as well as through the sale of real estate held for resale. Rental revenue from real estate held for investment is recognized when it is earned, generally on the first not 90 not No Revenue from real estate held for resale is recognized upon closing of the sale, as all conditions for full revenue recognition have been met at that time. All costs associated with the property sold are removed from the consolidated balance sheets and charged to cost of revenue at that time. Home Services Revenue The Company performs HVAC and plumbing service repairs and installs HVAC units for its customers through its home services segment. Revenue is recognized upon completion of the installation or service call. Sales are adjusted for any returns or allowances. A return or allowance situation would arise based on the two two one If payment is received prior to contract completion, then the amount of revenue attributable to the unperformed work is designated as unearned revenue. If payment is not Management acknowledges that these performance obligations are recognized at the completion of each contract, whether it be at a point in time or over a period of time. As the customer controls the asset and has the right to use during the contract, the Company has the right to payment for performance completed to date. No Internet Revenue The Company sells internet services under annual and monthly contracts. Under the annual contracts, the subscriber pays a one No The Company generates revenue in its internet segment from consumer and business-grade internet access, wholesale managed modem services for downstream ISPs, web hosting, and various ancillary services in the United States and Canada. Services include narrow-band (dial-up and ISDN) and broadband services (DSL, fiber-optic, and wireless), web hosting, and additional related services to consumers and businesses. Customers may |
Income Tax, Policy [Policy Text Block] | Income Taxes Income taxes are accounted for under the 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 bases 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, 2017, December 31, 2016, December 31, 2015, |
Earnings Per Share, Policy [Policy Text Block] | Income Per Share The basic income per common share is computed by dividing net income available to common stockholders by the weighted average number of common shares outstanding. Diluted income per common share is computed similar to basic income per common share except that the denominator is increased to include the number of additional common shares that would have been outstanding if the potential common shares had been issued and if the additional common shares were dilutive. As of September 30, 2018, |
Comprehensive Income, Policy [Policy Text Block] | Other Comprehensive Income Other comprehensive income is the result of unrealized gains (losses) from marketable securities classified as available-for-sale. |
New Accounting Pronouncements, Policy [Policy Text Block] | Recently Issued Accounting Pronouncements In February 2016, 2016 02, 842 2016 02 842, 2016 02 2016 02 December 15, 2018, first 2019. In August 2015, No. 2015 14, No. 2014 09, 606 one December 15, 2017. No. 2014 09 not first 2018. no no In November 2015, No. 2015 17, 740 December 15, 2017, first 2018. not In January 2016, No. 2016 01 825 10 1 2 December 15, 2017; first 2018. not In January 2017, No. 2017 01 805 not not 1 2 606. December 15, 2017; January 1, 2018. not January 2018 3 In January 2017, No. 2017 04 350 2 1 December 15, 2019, 2017 |
Note 3 - Asset Acquisition of_2
Note 3 - Asset Acquisition of Real Estate Properties (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Land $ 797,565 Buildings 3,190,262 Total Value $ 3,987,827 Land $ 1,036,423 Buildings 4,145,693 Total Value $ 5,182,116 |
Note 4 - Investments (Tables)
Note 4 - Investments (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Gain (Loss) on Securities [Table Text Block] | Cost Basis Accrued Fees Unrealized Gain Fair Value September 30, 2018 (unaudited) Alluvial Fund, LP $ 7,019,238 $ — $ 2,750,306 $ 9,769,544 Huckleberry Real Estate Fund II, LLC 750,000 — — 750,000 Total $ 7,769,238 $ — $ 2,750,306 $ 10,519,544 Cost Basis Accrued Fees Unrealized Gain Fair Value December 31, 2017 Alluvial Fund, LP $ 7,000,000 $ 2,077 $ 2,256,825 $ 9,258,902 Huckleberry Real Estate Fund II, LLC 750,000 — — 750,000 Total $ 7,750,000 $ 2,077 $ 2,256,825 $ 10,008,902 |
Note 5 - Fair Value of Assets_2
Note 5 - Fair Value of Assets and Liabilities (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value September 30, 2018 (unaudited) Huckleberry Real Estate Fund II, LLC $ — $ — $ 750,000 $ — $ 750,000 Alluvial Fund, LP — — — 9,769,544 9,769,544 Total investments $ — $ — $ 750,000 $ 9,769,544 $ 10,519,544 (Level 1) (Level 2) (Level 3) (Excluded) (a) Total at Fair Value December 31, 2017 Huckleberry Real Estate Fund II, LLC — — 750,000 — 750,000 Alluvial Fund, LP — — — 9,258,902 9,258,902 Total investments $ — $ — $ 750,000 $ 9,258,902 $ 10,008,902 |
Note 6 - Property and Equipme_2
Note 6 - Property and Equipment (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Property, Plant and Equipment [Table Text Block] | 2018 2017 Automobile $ 343,460 $ 264,778 Building 827,767 — Computers and equipment 206,967 162,401 Furniture and fixtures 119,875 25,206 Land 2,599,297 — 4,097,366 452,385 Less accumulated depreciation (230,138 ) (121,086 ) Property and equipment, net $ 3,867,228 $ 331,299 |
Note 8 - Notes Payable (Tables)
Note 8 - Notes Payable (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Debt [Table Text Block] | 2018 2017 Interest bearing amounts due on real estate held for investment through Mt Melrose, LLC $ 8,021,972 $ — Interest bearing amount due on acquisition through HVAC Value Fund, LLC — 25,000 Non-interest bearing amount due on acquisition through HVAC Value Fund, LLC — 64,804 Interest bearing amount due on line of credits through HVAC Value Fund, LLC — 220,485 Non-interest bearing amount due on line of credits through HVAC Value Fund, LLC 100,000 — Equipment and vehicle capital leases and loans acquired by HVAC Value Fund, LLC 71,201 116,987 Vehicle loans through HVAC Value Fund, LLC 56,338 — Interest bearing amount due on promissory note through EDI Real Estate, LLC 386,000 — Interest bearing amount due on real estate held for investment through EDI Real Estate, LLC 137,600 137,600 Less current portion (1,501,764 ) (370,802 ) Long-term portion $ 7,271,347 $ 194,074 |
Schedule of Maturities of Long-term Debt [Table Text Block] | 2019 $ 658,593 2020 1,884,160 2021 24,821 2022 163,911 2023 and after 4,539,862 Total $ 7,271,347 |
Note 9 - Accounts Receivable _2
Note 9 - Accounts Receivable and Bad Debt Expense (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | 2018 2017 Gross accounts receivable $ 478,316 $ 399,378 Less allowance for doubtful accounts (46,346 ) (2,498 ) Accounts receivable, net $ 431,970 $ 396,880 |
Note 10 - Segment Information (
Note 10 - Segment Information (Tables) | 9 Months Ended |
Sep. 30, 2018 | |
Notes Tables | |
Schedule of Segment Reporting Information, by Segment [Table Text Block] | Asset Management Real Estate Home Services Internet Other Consolidated Three months ended September 30, 2018 Revenues $ 330,112 $ 220,600 $ 995,867 $ 288,312 $ 20,934 $ 1,855,825 Cost of revenue — 107,527 608,767 86,658 31,800 834,752 Operating expenses 107,538 275,414 302,233 58,475 130,874 874,534 Other income (expense) 11,075 (137,406 ) (1,613 ) 479 1,908 (125,557 ) Comprehensive income (loss) 233,649 (299,747 ) 83,254 143,658 (139,832 ) 20,982 Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 9,806,271 14,707,356 2,577,014 381,262 1,738,533 29,210,436 Asset Management Real Estate Home Services Internet Other Consolidated Three months ended September 30, 2017 Revenues $ 715,598 $ — $ 1,332,239 $ 314,202 $ 324,044 $ 2,686,083 Cost of revenue — — 875,991 81,144 306,537 1,263,672 Operating expenses 41,544 — 322,639 61,299 180,896 606,378 Other income (expense) — — (13,928 ) 656 4,395 (8,877 ) Comprehensive income (loss) 674,054 — 119,681 172,415 (148,926 ) 817,224 Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 12,091,978 — 2,787,303 315,754 1,274,140 16,469,175 Asset Management Real Estate Home Services Internet Other Consolidated Nine months ended September 30, 2018 Revenues $ 522,044 $ 592,583 $ 2,641,373 $ 887,635 $ 121,031 $ 4,764,666 Cost of revenue — 342,449 1,731,750 238,385 156,731 2,469,315 Operating expenses 170,979 762,074 972,129 191,443 651,540 2,748,165 Other income (expense) 33,225 (368,800 ) (12 ) 32,898 7,091 (295,598 ) Comprehensive income (loss) 384,290 (880,740 ) (62,518 ) 490,705 (680,149 ) (748,412 ) Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 9,806,271 14,707,356 2,577,014 381,262 1,738,533 29,210,436 Asset Management Real Estate Home Services Internet Other Consolidated Nine months ended September 30, 2017 Revenues $ 1,320,808 $ — $ 3,526,913 $ 977,629 $ 1,216,190 $ 7,041,540 Cost of revenue — — 2,307,902 237,098 1,264,602 3,809,602 Operating expenses 79,855 — 1,109,926 212,267 507,602 1,909,650 Other income (expense) — — (20,311 ) 57,736 83,335 120,760 Comprehensive income (loss) 1,240,953 — 88,774 586,000 (528,950 ) 1,386,777 Goodwill — — 1,779,549 212,445 — 1,991,994 Identifiable assets 12,091,978 — 2,787,303 315,754 1,274,140 16,469,175 |
Note 1 - Organization and Sig_2
Note 1 - Organization and Significant Accounting Policies (Details Textual) | May 18, 2018USD ($) | Jan. 01, 2018USD ($) | Aug. 24, 2017USD ($) | Jun. 13, 2017 | Jan. 30, 2017USD ($) | Oct. 31, 2018USD ($) | Mar. 31, 2018 | Sep. 30, 2018 | Sep. 30, 2018USD ($) | Apr. 28, 2018$ / sharesshares | Jan. 29, 2018 | Jan. 10, 2018 | Jan. 01, 2017USD ($) |
Number of Reportable Segments | 6 | 5 | 5 | ||||||||||
Noncontrolling Interest, Ownership Percentage by Parent | 100.00% | 100.00% | |||||||||||
Entity Incorporation, Date of Incorporation | Dec. 17, 1992 | ||||||||||||
HVAC Value Fund, LLC [Member] | |||||||||||||
Number of Businesses Acquired | 6 | ||||||||||||
Business Combination, Consideration Transferred, Total | $ 2,020,000 | ||||||||||||
Business Combination Earn Out Payments | $ 336,000 | ||||||||||||
Residential Properties [Member] | |||||||||||||
Number of Real Estate Properties | 9 | 9 | |||||||||||
Commercial Properties [Member] | |||||||||||||
Number of Real Estate Properties | 1 | 1 | |||||||||||
Commercial Properties [Member] | Subsequent Event [Member] | |||||||||||||
Proceeds from Sale of Real Estate, Total | $ 26,000 | ||||||||||||
Triad Guaranty, Inc. [Member] | |||||||||||||
Equity Method Investments | $ 55,000 | $ 100,000 | |||||||||||
Percentage of Annual Interest Rate on Promissory Note | 10.00% | ||||||||||||
Percentage Rate of Issuance of Warrants | 2.50% | ||||||||||||
Class of Warrant or Right, Number of Securities Called by Warrants or Rights | shares | 450,000 | ||||||||||||
Class of Warrant or Right, Exercise Price of Warrants or Rights | $ / shares | $ 0.01 | ||||||||||||
Bankruptcy Exited Date | Apr. 27, 2018 | ||||||||||||
Promissory Note Repayment Due Date | Apr. 29, 2020 | ||||||||||||
Willow Oak Asset Management LLC [Member] | Alluvial Fund, LP [Member] | |||||||||||||
Financial Instruments, Owned, Principal Investments, at Fair Value | $ 10,000,000 | ||||||||||||
Period Before Full Withdrawal From Capital Account Permitted | 5 years | ||||||||||||
Financial Instruments, Withdrawal from Capital Amount | $ 3,000,000 | ||||||||||||
Percentage of Performance and Management Fees Earned | 50.00% | ||||||||||||
Willow Oak Asset Management LLC [Member] | Huckleberry Real Estate Fund II, LLC [Member] | |||||||||||||
Contributed Capital, Amount | $ 750,000 | ||||||||||||
Mt. Melrose LLC [Member] | Residential Properties [Member] | |||||||||||||
Number of Real Estate Properties | 69 | 44 |
Note 2 - Summary of Significa_2
Note 2 - Summary of Significant Accounting Policies (Details Textual) | 9 Months Ended | 12 Months Ended |
Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Debt Securities, Available-for-sale, Current, Total | $ 0 | $ 0 |
Number of Domain Names Owned | 634 | |
Number of Domain Names Available for Sale | 107 | |
Workmanship Warranty Period | 2 years | |
Manufacture Warranty Period | 2 years | |
Domestic Tax Authority [Member] | ||
Open Tax Year | 2015 2016 2017 | |
Home Service [Member] | ||
Goodwill, Purchase Accounting Adjustments | $ (29,504) |
Note 3 - Asset Acquisition of_3
Note 3 - Asset Acquisition of Real Estate Properties (Details Textual) | Jun. 29, 2018USD ($)shares | Jan. 10, 2018USD ($)shares | Jan. 29, 2018USD ($) | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | Dec. 10, 2017 |
Payments to Acquire Businesses, Gross | $ 552,644 | $ 8,711,772 | ||||
Old Mt. Melrose [Member] | ||||||
Variable Interest Entity, Consolidated, Carrying Amount, Assets, Total | 1,000,000 | |||||
Variable Interest Entity, Consolidated, Carrying Amount, Liabilities, Total | $ 850,000 | |||||
Mt. Melrose LLC [Member] | ||||||
Payments to Acquire Businesses, Gross | $ 500,000 | |||||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares | shares | 148,158 | 120,602 | ||||
Business Acquisition, Equity Interest Issued or Issuable, Value Assigned | $ 2,407,564 | $ 1,658,270 | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt | 2,767,158 | 1,798,713 | ||||
Business Acquisition, Date of Acquisition Agreement | Dec. 10, 2017 | |||||
Mt. Melrose LLC [Member] | Land, Buildings and Improvements [Member] | ||||||
Business Acquisition, Transaction Costs | $ 7,394 | $ 45,250 | ||||
Property, Plant and Equipment, Useful Life | 39 years | |||||
Mt. Melrose LLC [Member] | Residential Properties [Member] | ||||||
Number of Real Estate Properties | 69 | 44 | 69 | 145 | ||
Business Combination, Consideration Transferred, Total | $ 5,174,722 | $ 3,956,389 | $ 5,174,722 |
Note 3 - Asset Acquisition of_4
Note 3 - Asset Acquisition of Real Estate Properties - Summary of Purchase Price Allocated to Land and Buildings Acquired Based On Relative Fair Values (Details) - Mt. Melrose LLC [Member] - USD ($) | Jun. 29, 2018 | Jan. 10, 2018 |
Land | $ 1,036,423 | $ 797,565 |
Buildings | 4,145,693 | 3,190,262 |
Total Value | $ 5,182,116 | $ 3,987,827 |
Note 4 - Investments - Summary
Note 4 - Investments - Summary of Non-Current Investments Re-Measured to Fair Value on a Recurring Basis (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Available-for-sale securities, Cost Basis | $ 7,769,238 | $ 7,750,000 |
Available-for-sale securities, Accrued Fees | 2,077 | |
Available-for-sale securities, Unrealized Gain | 2,750,306 | 2,256,825 |
Available-for-sale securities, Fair Value | 10,519,544 | 10,008,902 |
Alluvial Fund, LP [Member] | ||
Available-for-sale securities, Cost Basis | 7,019,238 | 7,000,000 |
Available-for-sale securities, Accrued Fees | 2,077 | |
Available-for-sale securities, Unrealized Gain | 2,750,306 | 2,256,825 |
Available-for-sale securities, Fair Value | 9,769,544 | 9,258,902 |
Huckleberry Real Estate Fund II, LLC [Member] | ||
Available-for-sale securities, Cost Basis | 750,000 | 750,000 |
Available-for-sale securities, Accrued Fees | ||
Available-for-sale securities, Unrealized Gain | ||
Available-for-sale securities, Fair Value | $ 750,000 | $ 750,000 |
Note 5 - Fair Value of Assets_3
Note 5 - Fair Value of Assets and Liabilities (Details Textual) | Jun. 29, 2018USD ($) | Jan. 10, 2018USD ($) | Jan. 29, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | Dec. 10, 2017 |
Mt. Melrose LLC [Member] | Residential Properties [Member] | ||||||
Number of Real Estate Properties | 69 | 44 | 69 | 145 | ||
Business Combination, Consideration Transferred, Total | $ 5,174,722 | $ 3,956,389 | $ 5,174,722 | |||
Fair Value, Measurements, Nonrecurring [Member] | ||||||
Impairment of Real Estate | $ 24,038 | $ 101,694 | ||||
Home Service [Member] | ||||||
Goodwill, Purchase Accounting Adjustments | $ (29,504) |
Note 5 - Fair Value of Assets_4
Note 5 - Fair Value of Assets and Liabilities - Schedule of Marketable Securities at Fair Value (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 | |
Available-for-sale securities, Fair Value | $ 10,519,544 | $ 10,008,902 | |
Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale securities, Fair Value | |||
Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale securities, Fair Value | |||
Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale securities, Fair Value | 750,000 | 750,000 | |
Fair Value Measured at Net Asset Value Per Share [Member] | |||
Available-for-sale securities, Fair Value | [1] | 9,769,544 | 9,258,902 |
Huckleberry Real Estate Fund II, LLC [Member] | |||
Available-for-sale securities, Fair Value | 750,000 | 750,000 | |
Huckleberry Real Estate Fund II, LLC [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale securities, Fair Value | |||
Huckleberry Real Estate Fund II, LLC [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale securities, Fair Value | |||
Huckleberry Real Estate Fund II, LLC [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale securities, Fair Value | 750,000 | 750,000 | |
Huckleberry Real Estate Fund II, LLC [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | |||
Available-for-sale securities, Fair Value | [1] | ||
Alluvial Fund, LP [Member] | |||
Available-for-sale securities, Fair Value | 9,769,544 | 9,258,902 | |
Alluvial Fund, LP [Member] | Fair Value, Inputs, Level 1 [Member] | |||
Available-for-sale securities, Fair Value | |||
Alluvial Fund, LP [Member] | Fair Value, Inputs, Level 2 [Member] | |||
Available-for-sale securities, Fair Value | |||
Alluvial Fund, LP [Member] | Fair Value, Inputs, Level 3 [Member] | |||
Available-for-sale securities, Fair Value | |||
Alluvial Fund, LP [Member] | Fair Value Measured at Net Asset Value Per Share [Member] | |||
Available-for-sale securities, Fair Value | [1] | $ 9,769,544 | $ 9,258,902 |
[1] | In accordance with Subtopic 820-10, certain investments that are measured at fair value using the NAV per share (or its equivalent) as a practical expedient have not been classified in the fair value hierarchy. The fair value amounts presented in this table are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the condensed consolidated balance sheets. |
Note 6 - Property and Equipme_3
Note 6 - Property and Equipment (Details Textual) - USD ($) | 3 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Dec. 31, 2017 | Nov. 12, 2018 | |
Depreciation, Total | $ 39,130 | $ 89,516 | |
Warehouse Space Located in Lexington, Kentucky [Member] | Subsequent Event [Member] | |||
Assets Held-for-sale, Not Part of Disposal Group, Total | $ 972,767 |
Note 6 - Property and Equipme_4
Note 6 - Property and Equipment - Schedule of Cost of Property and Equipment (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Property and equipment, gross | $ 4,097,366 | $ 452,385 |
Less accumulated depreciation | (230,138) | (121,086) |
Property and equipment, net | 3,867,228 | 331,299 |
Automobiles [Member] | ||
Property and equipment, gross | 343,460 | 264,778 |
Building [Member] | ||
Property and equipment, gross | 827,767 | |
Computer Equipment [Member] | ||
Property and equipment, gross | 206,967 | 162,401 |
Furniture and Fixtures [Member] | ||
Property and equipment, gross | 119,875 | 25,206 |
Land [Member] | ||
Property and equipment, gross | $ 2,599,297 |
Note 7 - Real Estate (Details T
Note 7 - Real Estate (Details Textual) | 1 Months Ended | 3 Months Ended | 12 Months Ended |
Oct. 31, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
Real Estate Held-for-sale | $ 211,453 | $ 199,117 | |
Real Estate Investment Property, Net, Total | 11,407,995 | 616,374 | |
Depreciation, Total | $ 39,130 | $ 89,516 | |
Real Estate, Held For Sale [Member] | Mt. Melrose LLC [Member] | |||
Number of Real Estate Properties | 1 | ||
Real Estate Held-for-sale | $ 145,406 | ||
Real Estate Held For Investment [Member] | Mt. Melrose LLC [Member] | |||
Number of Real Estate Properties | 194 | ||
Real Estate Investment Property, Net, Total | $ 10,800,245 | ||
Depreciation, Total | 64,908 | ||
Real Estate Owned, Accumulated Depreciation | $ 145,648 | ||
Real Estate Held For Investment [Member] | EDI Real Estate, LLC [Member] | |||
Number of Real Estate Properties | 9 | ||
Real Estate Investment Property, Net, Total | $ 607,750 | ||
Depreciation, Total | 5,304 | ||
Real Estate Owned, Accumulated Depreciation | $ 102,272 | ||
Real Estate Occupied or Available to Rent, Held For Investment [Member] | Mt. Melrose LLC [Member] | |||
Number of Real Estate Properties | 100 | ||
Vacant Real Estate Being Prepared or to Be Prepared to Market to Tenants, Held For Investment [Member] | Mt. Melrose LLC [Member] | |||
Number of Real Estate Properties | 85 | ||
Vacant Real Estate, Held For Investment [Member] | Mt. Melrose LLC [Member] | |||
Number of Real Estate Properties | 9 | ||
Real Estate Available for Rent and Occupied, Held For Investment [Member] | EDI Real Estate, LLC [Member] | |||
Number of Real Estate Properties | 8 | ||
Real Estate Occupied, Held for Investment [Member] | EDI Real Estate, LLC [Member] | |||
Number of Real Estate Properties | 6 | ||
Real Estate Unoccupied in the Process of Being Turned over for New Tenants, Held for Investment [Member] | EDI Real Estate, LLC [Member] | |||
Number of Real Estate Properties | 2 | ||
Commercial Real Estate, Held For Resale [Member] | Subsequent Event [Member] | |||
Proceeds from Sale of Real Estate, Total | $ 26,000 | ||
Commercial Real Estate, Held For Resale [Member] | EDI Real Estate, LLC [Member] | |||
Number of Real Estate Properties | 1 | ||
Real Estate Held for Development and Sale, Subsidiary | $ 66,047 | ||
Real Estate Renovated for With the Intention to Rent in the Future, Held For Investment [Member] | EDI Real Estate, LLC [Member] | |||
Number of Real Estate Properties | 1 |
Note 8 - Notes Payable (Details
Note 8 - Notes Payable (Details Textual) | 3 Months Ended | 9 Months Ended | 27 Months Ended | ||
Mar. 31, 2018 | Sep. 30, 2017 | Sep. 30, 2018USD ($) | Sep. 30, 2018USD ($) | Dec. 31, 2017USD ($) | |
HVAC Value Fund, LLC [Member] | |||||
Number of Businesses Acquired | 6 | ||||
Number of Notes Payable Outstanding | 2 | ||||
Debt Instrument, Interest Rate, Effective Percentage | 5.99% | 5.99% | |||
Number Of Vehicle Loans Entered During Period | 2 | ||||
Debt Instrument, Payment Terms | Two vehicle loans were entered into during the quarter ended March 31, 2018. These loans require monthly payments through May 2023 and hold annual interest rates of 5.99% | ||||
HVAC Value Fund, LLC [Member] | Notes Payable [Member] | |||||
Number of Businesses Acquired | 5 | ||||
HVAC Value Fund, LLC [Member] | Interest Bearing Notes Payable [Member] | |||||
Debt Instrument, Interest Rate, Effective Percentage | 7.00% | 7.00% | |||
Notes Payable, Total | $ 25,000 | ||||
EDI Real Estate, LLC [Member] | Interest Bearing Notes Payable [Member] | |||||
Notes Payable, Total | 386,000 | 386,000 | |||
EDI Real Estate, LLC [Member] | Interest Bearing Notes Payable [Member] | Real Estate Held For Investment [Member] | |||||
Notes Payable, Total | $ 137,600 | $ 137,600 | 137,600 | ||
EDI Real Estate, LLC [Member] | Promissory Notes due September 15, 2022 [Member] | Real Estate Held For Investment [Member] | |||||
Number Of Promissory Notes | 2 | ||||
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | 6.00% | |||
Debt Instrument, Interest Rate Terms | note carries an annual interest rate of 5.6% and fully matures on September 1, 2033 with early payoff permitted | ||||
Debt Instrument, Maturity Date | Sep. 1, 2033 | ||||
Mt. Melrose LLC [Member] | Interest Bearing Notes Payable [Member] | Real Estate Held For Investment [Member] | |||||
Notes Payable, Total | $ 8,021,972 | $ 8,021,972 | |||
Mt. Melrose LLC [Member] | Interest Bearing Notes Payable [Member] | Real Estate Held For Investment [Member] | Minimum [Member] | |||||
Debt Instrument, Interest Rate, Effective Percentage | 4.375% | 4.375% | |||
Mt. Melrose LLC [Member] | Interest Bearing Notes Payable [Member] | Real Estate Held For Investment [Member] | Maximum [Member] | |||||
Debt Instrument, Interest Rate, Effective Percentage | 13.00% | 13.00% |
Note 8 - Notes Payable - Summar
Note 8 - Notes Payable - Summary of Notes Payable (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Less current portion | $ (1,501,764) | $ (370,802) |
Long-term portion | 7,271,347 | 194,074 |
Mt. Melrose LLC [Member] | Interest Bearing Notes Payable [Member] | Real Estate Held For Investment [Member] | ||
Notes Payable, Total | 8,021,972 | |
HVAC Value Fund, LLC [Member] | Interest Bearing Notes Payable [Member] | ||
Notes Payable, Total | 25,000 | |
HVAC Value Fund, LLC [Member] | Interest Bearing Notes Payable [Member] | Line of Credit [Member] | ||
Notes Payable, Total | 220,485 | |
HVAC Value Fund, LLC [Member] | Non-Interest Bearing Notes Payable [Member] | ||
Notes Payable, Total | 64,804 | |
HVAC Value Fund, LLC [Member] | Non-Interest Bearing Notes Payable [Member] | Line of Credit [Member] | ||
Notes Payable, Total | 100,000 | |
HVAC Value Fund, LLC [Member] | Equipment and Vehicle Capital Leases and Loans [Member] | ||
Notes Payable, Total | 71,201 | 116,987 |
HVAC Value Fund, LLC [Member] | Vehicle Loans [Member] | ||
Notes Payable, Total | 56,338 | |
EDI Real Estate, LLC [Member] | Interest Bearing Notes Payable [Member] | ||
Notes Payable, Total | 386,000 | |
EDI Real Estate, LLC [Member] | Interest Bearing Notes Payable [Member] | Real Estate Held For Investment [Member] | ||
Notes Payable, Total | $ 137,600 | $ 137,600 |
Note 8 - Notes Payable - Future
Note 8 - Notes Payable - Future Payments on Notes Payable (Details) | Sep. 30, 2018USD ($) |
2,019 | $ 658,593 |
2,020 | 1,884,160 |
2,021 | 24,821 |
2,022 | 163,911 |
2023 and after | 4,539,862 |
Total | $ 7,271,347 |
Note 9 - Accounts Receivable _3
Note 9 - Accounts Receivable and Bad Debt Expense (Details Textual) - USD ($) | 3 Months Ended | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2018 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Provision for Doubtful Accounts | $ 63,824 | $ 63,824 | $ 15,281 | $ 28,986 |
Note 9 - Accounts Receivable _4
Note 9 - Accounts Receivable and Bad Debt Expense - Schedule of Accounts Receivable (Details) - USD ($) | Sep. 30, 2018 | Dec. 31, 2017 |
Gross accounts receivable | $ 478,316 | $ 399,378 |
Less allowance for doubtful accounts | (46,346) | (2,498) |
Accounts receivable, net | $ 431,970 | $ 396,880 |
Note 10 - Segment Information_2
Note 10 - Segment Information (Details Textual) | 3 Months Ended | 6 Months Ended | 9 Months Ended | |||
Sep. 30, 2018USD ($) | Mar. 31, 2018 | Sep. 30, 2017USD ($) | Sep. 30, 2018 | Sep. 30, 2018USD ($) | Sep. 30, 2017USD ($) | |
Number of Business Units | 5 | |||||
Number of Reportable Segments | 6 | 5 | 5 | |||
Revenue from Contract with Customer, Including Assessed Tax | $ 1,855,825 | $ 2,686,083 | $ 4,764,666 | $ 7,041,540 | ||
UNITED STATES | Internet Operations [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | 273,219 | 295,371 | ||||
CANADA | Internet Operations [Member] | ||||||
Revenue from Contract with Customer, Including Assessed Tax | $ 15,093 | $ 18,831 |
Note 10 - Segment Information -
Note 10 - Segment Information - Summary of Financial Information Concerning Company's Reportable Segments (Details) - USD ($) | 3 Months Ended | 9 Months Ended | |||
Sep. 30, 2018 | Sep. 30, 2017 | Sep. 30, 2018 | Sep. 30, 2017 | Dec. 31, 2017 | |
Revenue from Contract with Customer, Including Assessed Tax | $ 1,855,825 | $ 2,686,083 | $ 4,764,666 | $ 7,041,540 | |
Cost of revenue | 834,752 | 1,263,672 | 2,469,315 | 3,809,602 | |
Operating expenses | 874,534 | 606,378 | 2,748,165 | 1,909,650 | |
Other income (expense) | (125,557) | (8,877) | (295,598) | 120,760 | |
Comprehensive income (loss) | 20,982 | 817,224 | (748,412) | 1,386,777 | |
Goodwill | 1,991,994 | 1,991,994 | 1,991,994 | 1,991,994 | $ 1,991,994 |
Identifiable assets | 29,210,436 | 16,469,175 | 29,210,436 | 16,469,175 | $ 17,316,803 |
Asset Management [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 330,112 | 715,598 | 522,044 | 1,320,808 | |
Cost of revenue | |||||
Operating expenses | 107,538 | 41,544 | 170,979 | 79,855 | |
Other income (expense) | 11,075 | 33,225 | |||
Comprehensive income (loss) | 233,649 | 674,054 | 384,290 | 1,240,953 | |
Goodwill | |||||
Identifiable assets | 9,806,271 | 12,091,978 | 9,806,271 | 12,091,978 | |
Real Estate [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 220,600 | 592,583 | |||
Cost of revenue | 107,527 | 342,449 | |||
Operating expenses | 275,414 | 762,074 | |||
Other income (expense) | (137,406) | (368,800) | |||
Comprehensive income (loss) | (299,747) | (880,740) | |||
Goodwill | |||||
Identifiable assets | 14,707,356 | 14,707,356 | |||
Home Service [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 995,867 | 1,332,239 | 2,641,373 | 3,526,913 | |
Cost of revenue | 608,767 | 875,991 | 1,731,750 | 2,307,902 | |
Operating expenses | 302,233 | 322,639 | 972,129 | 1,109,926 | |
Other income (expense) | (1,613) | (13,928) | (12) | (20,311) | |
Comprehensive income (loss) | 83,254 | 119,681 | (62,518) | 88,774 | |
Goodwill | 1,779,549 | 1,779,549 | 1,779,549 | 1,779,549 | |
Identifiable assets | 2,577,014 | 2,787,303 | 2,577,014 | 2,787,303 | |
Internet Operations [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 288,312 | 314,202 | 887,635 | 977,629 | |
Cost of revenue | 86,658 | 81,144 | 238,385 | 237,098 | |
Operating expenses | 58,475 | 61,299 | 191,443 | 212,267 | |
Other income (expense) | 479 | 656 | 32,898 | 57,736 | |
Comprehensive income (loss) | 143,658 | 172,415 | 490,705 | 586,000 | |
Goodwill | 212,445 | 212,445 | 212,445 | 212,445 | |
Identifiable assets | 381,262 | 315,754 | 381,262 | 315,754 | |
Product and Service, Other [Member] | |||||
Revenue from Contract with Customer, Including Assessed Tax | 20,934 | 324,044 | 121,031 | 1,216,190 | |
Cost of revenue | 31,800 | 306,537 | 156,731 | 1,264,602 | |
Operating expenses | 130,874 | 180,896 | 651,540 | 507,602 | |
Other income (expense) | 1,908 | 4,395 | 7,091 | 83,335 | |
Comprehensive income (loss) | (139,832) | (148,926) | (680,149) | (528,950) | |
Goodwill | |||||
Identifiable assets | $ 1,738,533 | $ 1,274,140 | $ 1,738,533 | $ 1,274,140 |
Note 11 - Share Adjustment, C_2
Note 11 - Share Adjustment, Cancellation and Sale of Treasury Shares, and Reverse Stock Split (Details Textual) | Jul. 31, 2018$ / sharesshares | Sep. 30, 2018$ / sharesshares | Mar. 31, 2017shares | Sep. 30, 2018$ / sharesshares | May 22, 2018$ / sharesshares | Dec. 31, 2017$ / sharesshares |
Number of Treasury Shares Held Overstated | 800 | |||||
Misstatement Percentage on Shares Outstanding | 0.05% | |||||
Treasury Stock, Shares, Retired | 17,007 | |||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 13,068 | |||||
Shares Issued, Price Per Share | $ / shares | $ 0.11036586 | |||||
Common Stock, Shares Authorized | 2,800,000 | 2,800,000 | 350,000,000 | 2,400,000 | ||
Common Stock, Par or Stated Value Per Share | $ / shares | $ 0.125 | $ 0.125 | $ 0.001 | $ 0.125 | ||
Preferred Stock, Shares Authorized | 30,000,000 | 30,000,000 | 30,000,000 | 30,000,000 | ||
Preferred Stock, Par or Stated Value Per Share | $ / shares | $ 0.001 | $ 0.001 | $ 0.001 | $ 0.001 | ||
Reverse Stock Split [Member ] | ||||||
Stockholders' Equity Note, Stock Split, Conversion Ratio | 125 | |||||
Before Reverse Stock Split [Member] | ||||||
Stock Issued During Period, Shares, Treasury Stock Reissued | 1,633,500 |