Commonwealth Income & Growth Fund V (CIGF5) 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information	9 Months Ended
	Sep. 30, 2016shares
Document and Entity Information:
Entity Registrant Name	COMMONWEALTH INCOME & GROWTH FUND V
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Trading Symbol	cigf5
Amendment Flag	false
Entity Central Index Key	1,253,347
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding	1,236,608
Entity Filer Category	Smaller Reporting Company
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Entity Well-known Seasoned Issuer	No
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Condensed Balance Sheets

Condensed Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 1,001	$ 51,344
Lease income receivable, net of reserve of approximately $10,000 at September 30, 2016 and December 31, 2015	113,334	51,456
Accounts receivable, Commonwealth Capital Corp, net	0	24,704
Other receivables	9,667	8,500
Prepaid expenses	165	165
Current Assets	124,167	136,169
Net investment in finance leases	74,960	98,345
Equipment, at cost	6,728,695	7,277,433
Accumulated depreciation	(6,079,747)	(6,367,333)
Technology equipment, net	648,948	910,100
Total Assets	848,075	1,144,614
LIABILITIES
Accounts payable	122,980	112,238
Accounts payable, CIGF, Inc., net	152,748	382,664
Accounts Payable - Commonwealth Capital Corp., net	320,700	0
Other accrued expenses	6,458	10,108
Unearned lease income	30,109	34,378
Notes payable	323,822	501,545
Total Liabilities	956,817	1,040,933
PARTNERS' CAPITAL
General Partner	1,000	1,000
Limited Partners	(109,742)	102,681
Total Partners' Capital	(108,742)	103,681
Total Liabilities and Partners' Capital	$ 848,075	$ 1,144,614

Condensed Balance Sheets (Paren

Condensed Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Reserve for doubtful lease income receivable	$ 10,000	$ 10,000

Condensed Statements of Operati

Condensed Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenue
Lease	$ 179,717	$ 214,132	$ 537,534	$ 707,980
Interest and other	1,407	2,099	4,869	6,922
Gain on sale of equipment	0	1,485	35,000	776
Total revenue and gain on sale of equipment	181,124	217,716	577,403	715,678
Expenses
Operating, excluding depreciation and amortization	97,145	19,996	322,888	86,572
Equipment management fee, General Partner	0	5,542	4,633	18,238
Interest	3,978	5,244	14,276	17,302
Depreciation	126,083	244,727	447,548	741,106
Amortization of equipment acquisition costs and deferred expenses	0	0	0	3,195
Loss on sale of equipment	491	0	0	0
Total expenses	227,697	275,509	789,345	866,413
Net loss	(46,573)	(57,793)	(211,942)	(150,735)
Net loss allocated to Limited Partners	$ (46,573)	$ (57,793)	$ (211,942)	$ (150,735)
Net loss per equivalent Limited Partnership unit	$ (0.04)	$ (0.05)	$ (0.17)	$ (0.12)
Weighted average number of equivalent Limited Partnership units outstanding during the period	1,236,608	1,236,608	1,236,608	1,236,608

Condensed Statement of Partners

Condensed Statement of Partners' Capital - 9 months ended Sep. 30, 2016 - USD ($)	General Partners	Limited Partners {1}	Total
Partners' Capital at Dec. 31, 2015	$ 1,000	$ 102,681	$ 103,681
Partners' Capital Account, Units at Dec. 31, 2015	50	1,236,608
Net loss		$ (211,942)	(211,942)
Distributions		(481)	(481)
Partners' Capital at Sep. 30, 2016	$ 1,000	$ (109,742)	$ (108,742)
Partners' Capital Account, Units at Sep. 30, 2016	50	1,236,608

Condensed Statements of Cash Fl

Condensed Statements of Cash Flow - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows from operating activities
Net cash provided by (used in) operating activities	$ (44,756)	$ 144,744
Cash flows from investing activities
Capital expenditures	(74,089)	(89,602)
Purchase of finance leases	0	(36,795)
Payments from finance leases	28,170	26,946
Net proceeds from the sale of equipment	40,813	29,390
Net cash provided by (used in) investing activities	(5,106)	(70,061)
Cash flows from financing activities
Distributions to partners	(481)	(183,484)
Net cash used in financing activities	(481)	(183,484)
Net decrease in cash and cash equivalents	(50,343)	(108,801)
Cash and cash equivalents beginning of period	51,344	118,212
Cash and cash equivalents end of period	$ 1,001	$ 9,411

Business

Business	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Business	Commonwealth Income & Growth Fund V (the “Partnership”) is a limited partnership organized in the Commonwealth of Pennsylvania in May 2003. The Partnership offered for sale up to 1,250,000 units of the limited partnership at the purchase price of $20 per unit (the “offering”). The Partnership reached the minimum amount in escrow and commenced operations on March 14, 2005. As of February 24, 2006, the Partnership was fully subscribed. The Partnership used the proceeds of the offering to acquire, own and lease various types of information technology, medical technology, telecommunications technology, inventory management equipment and other similar capital equipment, which is leased primarily to U.S. corporations and institutions. Commonwealth Capital Corp. (“CCC”), on behalf of the Partnership and other affiliated partnerships, acquires equipment subject to associated debt obligations and lease agreements and allocate a participation in the cost, debt and lease revenue to the various partnerships that it manages based on certain risk factors. The Partnership’s investment objective is to acquire primarily high technology equipment. Information technology has developed rapidly in recent years and is expected to continue to do so. Technological advances have permitted reductions in the cost of information technology processing capacity, speed, and utility. In the future, the rate and nature of equipment development may cause equipment to become obsolete more rapidly. The Partnership also acquires high technology medical, telecommunications and inventory management equipment. The Partnership’s general partner will seek to maintain an appropriate balance and diversity in the types of equipment acquired. The market for high technology medical equipment is growing each year. Generally, this type of equipment will have a longer useful life than other types of technology equipment. This allows for increased re-marketability, if it is returned before its economic or announcement cycle is depleted. The Partnership’s General Partner is Commonwealth Income & Growth Fund, Inc. (the “General Partner”), a Pennsylvania corporation which is an indirect wholly owned subsidiary of CCC. Approximately ten years after the commencement of operations (the “operational phase”), the Partnership intended to sell or otherwise dispose of all of its equipment; make final distributions to partners, and to dissolve. The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote. The Partnership is expected to terminate on December 31, 2022. For the nine months ended September 30, 2016, the General Partner elected to forgo distributions and allocations of net income owed to it and suspended limited partner distributions. The General Partner will reassess the funding of limited partner distributions on a quarterly basis, throughout 2016. The General Partner and CCC will also determine if related party payables owed to them by the Partnership may be deferred (if deemed necessary) in an effort to further increase the Partnership’s cash flow. The General Partner and CCC have committed to fund, either through cash contributions and/or forgiveness of indebtedness, any necessary operational cash shortfalls of the Partnership through December 31, 2016. The General Partner will continue to reassess the funding of limited partner distributions throughout 2016 and will continue to waive certain fees if the General Partner determines it is in the best interest of the Partnership to do so. If available cash flow or net disposition proceeds are insufficient to cover the Partnership expenses and liabilities on a short and long term basis, the Partnership may attempt to obtain additional funds by disposing of or refinancing equipment, or by borrowing within its permissible limits.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Summary of Significant Accounting Policies	The financial information presented as of any date other than December 31, 2015 has been prepared from the books and records without audit. The following unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Financial information as of December 31, 2015 has been derived from the audited financial statements of the Partnership, but does not include all disclosures required by generally accepted accounting principles to be included in audited financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated, have been included. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of financial results that may be expected for the full year ended December 31, 2016. Recently Adopted Accounting Pronouncements In June 2015, the FASB issued Accounting Standards Update No. 2015-10, Technical Corrections and Improvements- In January 2015, the FASB issued Accounting Standards Update No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. Disclosure of Fair Value of Financial Instruments Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash and cash equivalents, receivables, accounts payable and accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values as of September 30, 2016 and December 31, 2015 due to the short term nature of these financial instruments. The Partnership’s debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at September 30, 2016 and December 31, 2015 approximates the carrying value of these instruments, due to the interest rates on the debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value. Forgiveness of Related Party Payables In accordance with ASC Topic 470-50 Debt Modifications and Extinguishments Cash and cash equivalents We consider cash equivalents to be highly liquid investments with the original maturity dates of 90 days or less. At September 30, 2016, cash was held in two accounts maintained at one financial institution with an aggregate balance of approximately $2,000. Bank accounts are federally insured up to $250,000 by the FDIC. At September 30, 2016, the total cash bank balance was as follows: At September 30, 2016 Balance Total bank balance $ 2,000 FDIC insured (2,000 ) Uninsured amount $ - The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's Aaa-Rated banking institution which is one of only three Aaa-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk. The amount in such accounts will fluctuate throughout 2016 due to many factors, including cash receipts, equipment acquisitions, interest rates, and distribution to limited partners. Recent Accounting Pronouncements In August 2016, the FASB issued Accounting Standards Update 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In March, April and May 2016, the FASB issued Accounting Standards Update- Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, Identifying Performance Obligations and Licensing Principal versus Agent Considerations (Reporting Revenue Gross versus Net, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In August 2014, the FASB issued Accounting Standards Update No. 2014 -15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers

Information Technology, Medical

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (''Equipment'')	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Information and other Technology, Inventory Management Equipment and other Capital Equipment	The Partnership is the lessor of equipment under operating leases with periods that generally will range from 12 to 48 months. In general, associated costs such as repairs and maintenance, insurance and property taxes are paid by the lessee. Remarketing fees are paid to the leasing companies from which the Partnership purchases leases. These are fees that are earned by the leasing companies when the initial terms of the lease have been met. The General Partner believes that this strategy adds value since it entices the leasing company to remain actively involved with the lessee and encourages potential extensions, remarketing or sale of equipment. This strategy is designed to minimize any conflicts the leasing company may have with a new lessee and may assist in maximizing overall portfolio performance. The remarketing fee is tied into lease performance thresholds and is a factor in the negotiation of the fee. Remarketing fees incurred in connection with lease extensions are accounted for as operating costs. Remarketing fees incurred in connection with the sale of equipment are included in the gain or loss calculations. For the nine months ended September 30, 2016 and 2015, no remarketing fees were incurred or paid. CCC, on behalf of the Partnership and on behalf of other affiliated companies and partnerships (“partnerships”), acquires equipment subject to associated debt obligations and lease agreements and allocates a participation in the cost, debt and lease revenue to the various companies based on certain risk factors. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at September 30, 2016 was approximately $4,535,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at September 30, 2016 was approximately $11,563,000. The Partnership’s share of the outstanding debt associated with this equipment at September 30, 2016 was approximately $117,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at September 30, 2016 was approximately $397,000. The Partnership’s share of the cost of the equipment in which it participates with other partnerships at December 31, 2015 was approximately $4,611,000 and is included in the Partnership’s equipment on its balance sheet. The total cost of the equipment shared by the Partnership with other partnerships at December 31, 2015 was approximately $11,855,000. The Partnership’s share of the outstanding debt associated with this equipment at December 31, 2015 was approximately $290,000 and is included in the Partnership’s notes payable on its balance sheet. The total outstanding debt related to the equipment shared by the Partnership at December 31, 2015 was approximately $857,000. As the Partnership and the other programs managed by the General Partner continue to acquire new equipment for the portfolio, opportunities for shared participation are expected to continue. Sharing in the acquisition of a lease portfolio gives the fund an opportunity to acquire additional assets and revenue streams, while allowing the fund to remain diversified and reducing its overall risk with respect to one portfolio. The following is a schedule of future minimum rentals on non-cancellable operating leases at September 30, 2016: Periods Ended December 31, Amount Three months ended December 31, 2016 $ 131,000 Year Ended December 31, 2017 198,000 Year Ended December 31, 2018 85,000 Year Ended December 31, 2019 12,000 $ 426,000 Finance Leases: The following lists the components of the net investment in direct financing leases at: September 30, 2016 December31, 2015 Total minimum lease payments to be received $ 64,000 $ 92,000 Estimated residual value of leased equipment (unguaranteed) 17,000 17,000 Less: unearned income (6,000 ) (11,000 ) Net investment in finance leases $ 75,000 $ 98,000 We assess credit risk for all of our customers, including those that lease under finance leases. This credit risk is assessed using an internally developed model which incorporates credits scores from third party providers and our own customer risk ratings and is periodically reviewed. Our internal ratings are weighted based on the industry that the customer operates in. Factors taken into consideration when assessing risk include both general and industry specific qualitative and quantitative metrics. We separately take in to consideration payment history, open lawsuits, liens and judgments. Typically, we will not extend credit to a company that has been in business for less than 5 years or that has filed for bankruptcy within the same period. Our internally based model may classify a company as high risk based on our analysis of their audited financial statements. Additional considerations of high risk may include history of late payments, open lawsuits and liens or judgments. In an effort to mitigate risk, we typically require deposits from those in this category. A reserve for credit losses is deemed necessary when payment has not been received for one or more months of receivables due on the equipment held under finance leases. At the end of each period, management evaluates the open receivables due on this equipment and determines the need for a reserve based on payment history and any current factors that would have an impact on payments. The following table presents the credit risk profile, by creditworthiness category, of our direct finance lease receivables at September 30, 2016: Risk Level Percent of Total Low -% Moderate-Low -% Moderate -% Moderate-High 100% High -% Net finance lease receivable 100% As of September 30, 2016 and December 31, 2015, we determined that we did not have a need for an allowance for uncollectible accounts associated with any of our finance leases, as the customer payment histories with us, associated with these leases, has been positive. The following is a schedule of future minimum rentals on non-cancellable finance leases at September 30, 2016: Amount Three months ended December 31, 2016 $ 9,000 2017 33,000 2018 20,000 2019 2,000 Total $ 64,000 The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote (see note 1). The Partnership is expected to terminate on December 31, 2022. If the Partnership should terminate, CCC will assume all remaining active leases at their fair market value and related remaining revenue stream and any associated debt obligation for the duration of the remaining lease term.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Related Party Transactions	Receivables/Payables During the nine months ended September 30, 2016 and 2015, CCC forgave approximately $0 and $20,000 of payables owed to it by the Partnership, respectively. As of September 30, 2016 and December 2015, the Partnership’s related party receivables and payables are short term, unsecured, and non-interest bearing. Nine months ended September 30, 2016 2015 Reimbursable Expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership. For the nine months ended September 30, 2016 and 2015, the General Partner waived certain reimbursable expenses due to it by the Partnership. For the nine months ended September 30, 2016 “Other LP” expense was charged to the Partnership of approximately $98,000. For the nine months ended September 30, 2015, no “Other LP” expense was charged to the Partnership and the Fund was allocated approximately $11,000 from CCC and recorded it as a reduction in operating expenses (see Note 7). $ 308,000 $ 91,000 Equipment Acquisition Fee The General Partner earned an equipment acquisition fee of 4% of the purchase price of each item of equipment purchased as compensation for the negotiation of the acquisition of the equipment and lease thereof or sale under a conditional sales contract. At September 30, 2016, all prepaid equipment acquisition fees were earned by the General Partner. For the nine months ended September 30, 2016 and 2015, approximately $8,000 and $12,000 of acquisition fees were waived by the General Partner, respectively. $ - $ - Debt Placement Fee As compensation for arranging term debt to finance our acquisition of equipment, we will pay the general partner a fee equal to one percent of such indebtedness; provided, however, that such fee shall be reduced to the extent we incur such fees to third parties unaffiliated with the general partner or the lender with respect to such indebtedness. No such fee will be paid with respect to borrowings from the general partner or its affiliates. We intend to initially acquire leases on an all cash basis with the proceeds of this offering, but may borrow funds after the offering proceeds have been invested. The amount we borrow, and therefore the amount of the fee, will depend upon interest rates at the time of a loan, and the amount of leverage we determine is appropriate at the time. We do not intend to use more than 30% leverage overall in our portfolio. Fees will increase as the amount of leverage we use increases, and as turnover in the portfolio increases and additional equipment is purchased using leverage. For both nine month periods ending September 30, 2016 and 2015, the General Partner earned but waived approximately $2,000 of debt placement fees. $ - $ - Equipment Management Fee The General Partner is entitled to be paid for managing the equipment portfolio a monthly fee equal to the lesser of (i) the fees which would be charged by an independent third party for similar services for similar equipment or (ii) the sum of (a) two percent of (1) the gross lease revenues attributable to equipment which is subject to full payout net leases which contain net lease provisions plus (2) the purchase price paid on conditional sales contracts as received by the Partnership and (b) 5% of the gross lease revenues attributable to equipment which is subject to operating leases. In an effort to increase future cash flow for the fund our General Partner had elected to reduce the percentage of equipment management fees paid to it from 5% to 2.5% of the gross lease revenues attributable to equipment which is subject to operating leases. The reduction was effective beginning in July 2010 and remained in effect for the nine months ended September 30, 2016 and 2015. For the nine months ended September 30, 2016, equipment management fees of approximately $9,000 were earned but were waived by the General Partner. $ 5,000 $ 18,000 Equipment liquidation fee With respect to each item of equipment sold by the General Partner (other than in connection with a conditional sales contract), a fee equal to the lesser of (i) 50% of the competitive equipment sale commission or (ii) three percent of the sales price for such equipment is payable to the General Partner. The payment of such fee is subordinated to the receipt by the limited partners of (i) a return of their net capital contributions and a 10% per annum cumulative return, compounded daily, on adjusted capital contributions and (ii) the net disposition proceeds from such sale in accordance with the Partnership Agreement. Such fee will be reduced to the extent any liquidation or resale fees are paid to unaffiliated parties. During the nine months ended September 30, 2016 and 2015, the General Partner waived approximately $1,000 and $1,000 of equipment liquidation fees, respectively. $ - $ -

Notes Payable

Notes Payable	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Notes Payable	Notes payable consisted of the following approximate amounts: September 30, 2016 December 31, 2015 Installment note payable to bank; interest at 4.23% due in quarterly installments of $12,780, including interest, with final payment in July 2016 $ - $ 38,000 Installment note payable to bank; interest at 5.50%, due in monthly installments of $7,910, including interest, with final payment in August 2016 - 62,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $6,153, including interest, with final payment in August 2016 - 18,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $152 to $1,321, including interest, with final payment in October 2016 - 10,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,740, including interest, with final payment in December 2016 3,000 11,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $478, including interest, with final payment in February 2017 2,000 5,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $951 to $1,327, including interest, with final payment in March 2017 4,000 11,000 Installment note payable to bank; interest at 4.85%, due in monthly installments of $922, including interest, with final payment in March 2017 5,000 13,000 Installment note payable to bank; interest at 1.60%, due in monthly installments of $2,286, including interest, with final payment in May 2017 18,000 38,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $1,991, including interest, with final payment in June 2017 6,000 12,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,711, including interest, with final payment in May 2017 8,000 16,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $132 to $663, including interest, with final payment in August 2017 6,000 12,000 Installment note payable to bank; interest at 4.85%, due in quarterly installments of $1,751, including interest, with final payment in September 2017 7,000 12,000 Installment note payable to bank; interest at 4.88%, due in quarterly installments of $1,852, including interest, with final payment in October 2017 23,000 39,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018 56,000 82,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018 3,000 5,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018 6,000 8,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018 19,000 26,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $296 to $458, including interest, with final payment in September 2018 6,000 5,000 Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018 26,000 38,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019 32,000 41,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $458, including interest, with final payment in October 2018 12,000 - Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018 2,000 - Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019 60,000 - Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019 5,000 - Installment note payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019 14,000 - $ 323,000 $ 502,000 These notes are secured by specific equipment with a carrying value of approximately $530,000 as of September 30, 2016 and are nonrecourse liabilities of the Partnership. As such, the notes do not contain any financial debt covenants with which we must comply on either an annual or quarterly basis. Aggregate maturities of notes payable for each of the periods subsequent to September 30, 2016 are as follows: Amount Three months ended December 31, 2016 $ 59,000 Year ended December 31, 2017 178,000 Year ended December 31, 2018 78,000 Year ended December 31, 2019 8,000 $ 323,000 The Partnership was originally scheduled to end its operational phase on February 4, 2017. During the year ended December 31, 2015, the operational phase was officially extended to December 31, 2020 through an investor proxy vote (see note 1). The Partnership is expected to terminate on December 31, 2022. When the Partnership terminates, CCC will assume the obligation related to any remaining notes payable for the duration of the remaining lease term. During 2015, the General Partner executed a collateralized debt financing agreement on behalf of certain affiliates for a total shared loan amount of approximately $847,000, of which the Partnership’s share was approximately $101,000. The Partnership’s portion of the current loan amount at September 30, 2016 was approximately $65,000 and is secured by specific equipment under both operating and finance leases. The carrying value of the secured equipment under operating leases is approximately $16,000. The carrying value of the secured equipment under finance leases is approximately $81,000.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Supplemental Cash Flow Information	Other noncash activities included in the determination of net loss are as follows: Nine months ended September 30, 2016 2015 Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank $ 296,000 $ 311,000 No interest or principal on notes payable was paid by the Partnership because direct payment was made by lessee to the bank in lieu of collection of lease income and payment of interest and principal by the Partnership. Noncash investing and financing activities include the following: Nine months ended September 30, 2016 2015 Debt assumed in conjunction with purchase of equipment $ 118,000 $ 126,000 Accrual for purchase of lease equipment acquired, but funded in October $ - $ 39,000 Forgiveness of related party payables recorded as a capital contribution $ - $ 20,000 During the nine months ended September 30, 2016 and 2015, the Partnership wrote-off fully amortized equipment acquisition and deferred finance fees of approximately $0 and $51,000, respectively. During the nine months ended September 30, 2016 and 2015, the Partnership wrote-off fully depreciated equipment of approximately $0 and $6,000, respectively.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Disclosure Text Block [Abstract]
Commitments and Contingencies	Investor Complaint On November 10, 2015, certain investors (the “Claimants”) of the Partnership and Commonwealth Income & Growth Private Fund III (“CIGPF3”) (Collectively referred to as the “Funds”), filed an investor complaint with FINRA naming CCSC and Ms. Springsteen-Abbott (the “Respondents”). The Claimants, at the advice and recommendation of their personal financial advisors, purchased limited partnership units in the Partnership between February 2005 and February 2006 and in CIGPF3 between April 2005 and February 2007. The Claimants allege that the Respondents did not properly perform their duties as fund manager. The Funds are not members of FINRA and/or subject to its jurisdiction. The Respondents filed a complaint on December 23, 2015, against the Claimants in the United States District Court for the District of Maryland to enjoin the Claimants from proceeding with the arbitration and requiring its dismissal. The Claimants withdrew its complaint with FINRA on July 27, 2016. On August 1, 2016, the Respondents were granted voluntary dismissal in federal court given the withdrawal of the FINRA claim. On September 28, 2016, 23 investors, in addition to the original Claimants (the “Florida Claimants”) filed a complaint in the United States District Court for the Middle District of Florida, Albers et al. v. Commonwealth Capital Corp. et al Allied Health Care Services As previously disclosed in the Partnership’s Annual Report on Form 10-K for the year ended December 31, 2014, management wrote off the fully reserved accounts receivable and fully impaired assets related to the lease to Allied Health Care Services, Inc. (“Allied”), due to the bankruptcy of Allied and the criminal conviction of its founder, Mr. Schwartz, for fraud. There have been no material changes in the status of Allied’s bankruptcy or in the likelihood of recovering available assets since the date of the Partnership’s annual report. The deadline for the bankruptcy trustee to pursue adversary claims against certain creditors has expired, including extensions. The bankruptcy trustee cannot seek to claim the Partnership's payments received from Allied; therefore the Partnership has no exposure to such potential claims. Commonwealth continues to pursue all of our rights against both Allied and Mr. Schwartz to recover any available assets to the greatest extent possible. During 2015, Commonwealth received an Allied bankruptcy settlement of approximately $448,000. The Partnership’s portion was approximately $90,000, which is included as a bad debt recovery in the 2015 fourth quarter statement of financial operations. The bankruptcy proceedings have been finalized and no further recovery is expected. FINRA On May 3, 2013, the FINRA Department of Enforcement filed a complaint naming Commonwealth Capital Securities Corp. (“CCSC”) and the owner of the firm, Kimberly Springsteen-Abbott, as respondents; however on October 22, 2013, FINRA filed an amended complaint that dropped the allegations against CCSC and reduced the scope of the allegations against Ms. Springsteen-Abbott. The sole remaining charge was that Ms. Springsteen-Abbott had approved the misallocation of some expenses to certain Funds. Management believes that the expenses at issue include amounts that were proper and that were properly allocated to Funds, and also identified a smaller number of expenses that had been allocated in error, but were adjusted and repaid to the affected Funds when they were identified in 2012. During the period in question, Commonwealth Capital Corp. (“CCC”) and Ms. Springsteen-Abbott provided important financial support to the Funds, voluntarily absorbed expenses and voluntarily waived fees in amounts aggregating in excess of any questioned allocations. That Panel ruled on March 30, 2015, that Ms. Springsteen-Abbott should be barred from the securities industry because the Panel concluded that she allegedly misallocated $208,000 of expenses involving certain Funds over the course of three years. As such, management has allocated approximately $87,000 of the $208,000 in allegedly misallocated expenses back to the affected funds as a contingency accrual in CCC’s financial statements and a good faith payment for the benefit of those Income Funds. Decisions issued by FINRA's Office of Hearing Officers may be appealed to FINRA's National Adjudicatory Council (NAC) pursuant to FINRA Rule 9311. The NAC Decision upheld the Panel’s ruling. Ms. Springsteen-Abbott has appealed the NAC Decision to the SEC. While a decision is on appeal with the SEC, the sanctions for disgorgement and fines are not enforced against the individual. The bar took effect on August 23, 2016. Management believes that resolution of the appeal will not result in any material adverse financial impact on the Funds, but no assurance can be provided until the FINRA matter is resolved.

Summary of Significant Accoun14

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Policy Text Block [Abstract]
Basis of Presentation	The financial information presented as of any date other than December 31, 2015 has been prepared from the books and records without audit. The following unaudited condensed financial statements have been prepared pursuant to the rules and regulations of the Securities and Exchange Commission. Financial information as of December 31, 2015 has been derived from the audited financial statements of the Partnership, but does not include all disclosures required by generally accepted accounting principles to be included in audited financial statements. In the opinion of management, all adjustments, consisting only of normal recurring adjustments, necessary for a fair presentation of the financial information for the periods indicated, have been included. Operating results for the nine months ended September 30, 2016 are not necessarily indicative of financial results that may be expected for the full year ended December 31, 2016.
Recently Adopted Accounting Pronouncements	In June 2015, the FASB issued Accounting Standards Update No. 2015-10, Technical Corrections and Improvements- In January 2015, the FASB issued Accounting Standards Update No. 2015-01, Income Statement—Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items.
Disclosure of Fair Value of Financial Instruments	Estimated fair value was determined by management using available market information and appropriate valuation methodologies. However, judgment was necessary to interpret market data and develop estimated fair value. Cash and cash equivalents, receivables, accounts payable and accrued expenses and other liabilities are carried at amounts which reasonably approximate their fair values as of September 30, 2016 and December 31, 2015 due to the short term nature of these financial instruments. The Partnership’s debt consists of notes payable, which are secured by specific equipment and are nonrecourse liabilities of the Partnership. The estimated fair value of this debt at September 30, 2016 and December 31, 2015 approximates the carrying value of these instruments, due to the interest rates on the debt approximating current market interest rates. The Partnership classifies the fair value of its notes payable within Level 2 of the valuation hierarchy based on the observable inputs used to estimate fair value.
Forgiveness of Related Party Payables	In accordance with ASC Topic 470-50 Debt Modifications and Extinguishments
Cash and cash equivalents	We consider cash equivalents to be highly liquid investments with the original maturity dates of 90 days or less. At September 30, 2016, cash was held in two accounts maintained at one financial institution with an aggregate balance of approximately $2,000. Bank accounts are federally insured up to $250,000 by the FDIC. At September 30, 2016, the total cash bank balance was as follows: At September 30, 2016 Balance Total bank balance $ 2,000 FDIC insured (2,000 ) Uninsured amount $ - The Partnership’s bank balances are fully insured by the FDIC. The Partnership deposits its funds with a Moody's Aaa-Rated banking institution which is one of only three Aaa-Rated banks listed on the New York Stock Exchange. The Partnership has not experienced any losses in such accounts, and believes it is not exposed to any significant credit risk. The amount in such accounts will fluctuate throughout 2016 due to many factors, including cash receipts, equipment acquisitions, interest rates, and distribution to limited partners.
Recent Accounting Pronouncements	In August 2016, the FASB issued Accounting Standards Update 2016-15— Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments In March, April and May 2016, the FASB issued Accounting Standards Update- Revenue from Contracts with Customers (Topic 606): Narrow-Scope Improvements and Practical Expedients, Identifying Performance Obligations and Licensing Principal versus Agent Considerations (Reporting Revenue Gross versus Net, Revenue from Contracts with Customers (Topic 606) Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In February 2016, the FASB issued Accounting Standards Update No. 2016-02, Leases (Topic 842) Section A—Leases: Amendments to the FASB Accounting Standards Codification® Section B—Conforming Amendments Related to Leases: Amendments to the FASB Accounting Standards Codification® Section C—Background Information and Basis for Conclusions In January 2016, the FASB issued Accounting Standards Update No. 2016-01, Financial Instruments—Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities In August 2015, the FASB issued Accounting Standards Update No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date In August 2014, the FASB issued Accounting Standards Update No. 2014 -15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern In May 2014, the FASB issued Accounting Standards Update No. 2014-09, Revenue from Contracts with Customers

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Schedule of Cash and Cash Equivalents	At September 30, 2016 Balance Total bank balance $ 2,000 FDIC insured (2,000 ) Uninsured amount $ -

Information Technology, Medic16

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Schedule of future minimum rentals on non-cancellable operating leases	Periods Ended December 31, Amount Three months ended December 31, 2016 $ 131,000 Year Ended December 31, 2017 198,000 Year Ended December 31, 2018 85,000 Year Ended December 31, 2019 12,000 $ 426,000
Net investment in direct financing leases	September 30, 2016 December31, 2015 Total minimum lease payments to be received $ 64,000 $ 92,000 Estimated residual value of leased equipment (unguaranteed) 17,000 17,000 Less: unearned income (6,000 ) (11,000 ) Net investment in finance leases $ 75,000 $ 98,000
Finance lease risk level	Risk Level Percent of Total Low -% Moderate-Low -% Moderate -% Moderate-High 100% High -% Net finance lease receivable 100%
Schedule of future minimum rentals on non-cancelable direct financing leases	Amount Three months ended December 31, 2016 $ 9,000 2017 33,000 2018 20,000 2019 2,000 Total $ 64,000

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Schedule of Related Party Transactions	Nine months ended September 30, 2016 2015 Reimbursable Expenses The General Partner and its affiliates are entitled to reimbursement by the Partnership for the cost of goods, supplies or services obtained and used by the General Partner in connection with the administration and operation of the Partnership from third parties unaffiliated with the General Partner. In addition, the General Partner and its affiliates are entitled to reimbursement of certain expenses incurred by the General Partner and its affiliates in connection with the administration and operation of the Partnership. For the nine months ended September 30, 2016 and 2015, the General Partner waived certain reimbursable expenses due to it by the Partnership. For the nine months ended September 30, 2016 “Other LP” expense was charged to the Partnership of approximately $98,000. For the nine months ended September 30, 2015, no “Other LP” expense was charged to the Partnership and the Fund was allocated approximately $11,000 from CCC and recorded it as a reduction in operating expenses (see Note 7). $ 308,000 $ 91,000 Equipment Acquisition Fee The General Partner earned an equipment acquisition fee of 4% of the purchase price of each item of equipment purchased as compensation for the negotiation of the acquisition of the equipment and lease thereof or sale under a conditional sales contract. At September 30, 2016, all prepaid equipment acquisition fees were earned by the General Partner. For the nine months ended September 30, 2016 and 2015, approximately $8,000 and $12,000 of acquisition fees were waived by the General Partner, respectively. $ - $ - Debt Placement Fee As compensation for arranging term debt to finance our acquisition of equipment, we will pay the general partner a fee equal to one percent of such indebtedness; provided, however, that such fee shall be reduced to the extent we incur such fees to third parties unaffiliated with the general partner or the lender with respect to such indebtedness. No such fee will be paid with respect to borrowings from the general partner or its affiliates. We intend to initially acquire leases on an all cash basis with the proceeds of this offering, but may borrow funds after the offering proceeds have been invested. The amount we borrow, and therefore the amount of the fee, will depend upon interest rates at the time of a loan, and the amount of leverage we determine is appropriate at the time. We do not intend to use more than 30% leverage overall in our portfolio. Fees will increase as the amount of leverage we use increases, and as turnover in the portfolio increases and additional equipment is purchased using leverage. For both nine month periods ending September 30, 2016 and 2015, the General Partner earned but waived approximately $2,000 of debt placement fees. $ - $ - Equipment Management Fee The General Partner is entitled to be paid for managing the equipment portfolio a monthly fee equal to the lesser of (i) the fees which would be charged by an independent third party for similar services for similar equipment or (ii) the sum of (a) two percent of (1) the gross lease revenues attributable to equipment which is subject to full payout net leases which contain net lease provisions plus (2) the purchase price paid on conditional sales contracts as received by the Partnership and (b) 5% of the gross lease revenues attributable to equipment which is subject to operating leases. In an effort to increase future cash flow for the fund our General Partner had elected to reduce the percentage of equipment management fees paid to it from 5% to 2.5% of the gross lease revenues attributable to equipment which is subject to operating leases. The reduction was effective beginning in July 2010 and remained in effect for the nine months ended September 30, 2016 and 2015. For the nine months ended September 30, 2016, equipment management fees of approximately $9,000 were earned but were waived by the General Partner. $ 5,000 $ 18,000 Equipment liquidation fee With respect to each item of equipment sold by the General Partner (other than in connection with a conditional sales contract), a fee equal to the lesser of (i) 50% of the competitive equipment sale commission or (ii) three percent of the sales price for such equipment is payable to the General Partner. The payment of such fee is subordinated to the receipt by the limited partners of (i) a return of their net capital contributions and a 10% per annum cumulative return, compounded daily, on adjusted capital contributions and (ii) the net disposition proceeds from such sale in accordance with the Partnership Agreement. Such fee will be reduced to the extent any liquidation or resale fees are paid to unaffiliated parties. During the nine months ended September 30, 2016 and 2015, the General Partner waived approximately $1,000 and $1,000 of equipment liquidation fees, respectively. $ - $ -

Notes Payable (Tables)

Notes Payable (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Notes Payable	September 30, 2016 December 31, 2015 Installment note payable to bank; interest at 4.23% due in quarterly installments of $12,780, including interest, with final payment in July 2016 $ - $ 38,000 Installment note payable to bank; interest at 5.50%, due in monthly installments of $7,910, including interest, with final payment in August 2016 - 62,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $6,153, including interest, with final payment in August 2016 - 18,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $152 to $1,321, including interest, with final payment in October 2016 - 10,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,740, including interest, with final payment in December 2016 3,000 11,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $478, including interest, with final payment in February 2017 2,000 5,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $951 to $1,327, including interest, with final payment in March 2017 4,000 11,000 Installment note payable to bank; interest at 4.85%, due in monthly installments of $922, including interest, with final payment in March 2017 5,000 13,000 Installment note payable to bank; interest at 1.60%, due in monthly installments of $2,286, including interest, with final payment in May 2017 18,000 38,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $1,991, including interest, with final payment in June 2017 6,000 12,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,711, including interest, with final payment in May 2017 8,000 16,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $132 to $663, including interest, with final payment in August 2017 6,000 12,000 Installment note payable to bank; interest at 4.85%, due in quarterly installments of $1,751, including interest, with final payment in September 2017 7,000 12,000 Installment note payable to bank; interest at 4.88%, due in quarterly installments of $1,852, including interest, with final payment in October 2017 23,000 39,000 Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018 56,000 82,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018 3,000 5,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018 6,000 8,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018 19,000 26,000 Installment note payable to bank; interest at 4.23% due in quarterly installments of $296 to $458, including interest, with final payment in September 2018 6,000 5,000 Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018 26,000 38,000 Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019 32,000 41,000 Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $458, including interest, with final payment in October 2018 12,000 - Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018 2,000 - Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019 60,000 - Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019 5,000 - Installment note payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019 14,000 - $ 323,000 $ 502,000
Aggregate maturities of notes payable	Amount Three months ended December 31, 2016 $ 59,000 Year ended December 31, 2017 178,000 Year ended December 31, 2018 78,000 Year ended December 31, 2019 8,000 $ 323,000

Supplemental Cash Flow Inform19

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 2016
Table Text Block Supplement [Abstract]
Other noncash activities	Nine months ended September 30, 2016 2015 Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank $ 296,000 $ 311,000
Noncash investing and financing activities	Nine months ended September 30, 2016 2015 Debt assumed in conjunction with purchase of equipment $ 118,000 $ 126,000 Accrual for purchase of lease equipment acquired, but funded in October $ - $ 39,000 Forgiveness of related party payables recorded as a capital contribution $ - $ 20,000

Business (Details)

Business (Details)	9 Months Ended
	Sep. 30, 2016
Text Block [Abstract]
Entity Incorporation, State Country Name	Commonwealth of Pennsylvania

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Details)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Total bank balance	$ 2,000
FDIC insured	(2,000)
Uninsured amount	$ 0

Information Technology, Medic22

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Three months ended December 31, 2016	$ 131,000
Year Ended December 31, 2017	198,000
Year Ended December 31, 2018	85,000
Year Ended December 31, 2019	12,000
Total	$ 426,000

Information Technology, Medic23

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 1) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Text Block [Abstract]
Total minimum lease payments to be received	$ 64,000	$ 92,000
Estimated residual value of leased equipment (unguaranteed)	17,000	17,000
Less: unearned income	(6,000)	(11,000)
Net investment in finance leases	$ 75,000	$ 98,000

Information Technology, Medic24

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 2)	Sep. 30, 2016
Text Block [Abstract]
Low	0.00%
Moderate-Low	0.00%
Moderate	0.00%
Moderate-High	100.00%
High	0.00%
Net finance lease receivable	100.00%

Information Technology, Medic25

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details 3)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Three months ended December 31, 2016	$ 9,000
2,017	33,000
2,018	20,000
2,019	2,000
Total	$ 64,000

Information Technology, Medic26

Information Technology, Medical Technology, Telecommunications Technology, Inventory Management Equipment (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Text Block [Abstract]
Remarketing Fees Incurred	$ 0	$ 0
Equipment Shared	4,535,000		$ 4,611,000
Total Shared Equipment	11,563,000		11,855,000
Debt Shared	117,000		231,000
Outstanding Debt Total	$ 397,000		$ 857,000

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Reimbursable Expenses	$ 308,000	$ 91,000
Equipment Acquisition Fees	0	0
Debt placement fees	0	0
Equipment Management Fee	5,000	0
Equipment liquidation fee	$ 0	$ 0

Notes Payable (Details)

Notes Payable (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Long-term Debt, Gross	$ 323,000	$ 502,000
Note 1
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $12,780, including interest, with final payment in July 2016
Long-term Debt, Gross	$ 0	38,000
Note 2
Debt Instrument, Description	Installment note payable to bank; interest at 5.50%, due in monthly installments of $7,910, including interest, with final payment in August 2016
Long-term Debt, Gross	$ 0	62,000
Note 3
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $6,153, including interest, with final payment in August 2016
Long-term Debt, Gross	$ 0	18,000
Note 4
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $152 to $1,321, including interest, with final payment in October 2016
Long-term Debt, Gross	$ 0	10,000
Note 5
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,740, including interest, with final payment in December 2016
Long-term Debt, Gross	$ 3,000	11,000
Note 6
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $478, including interest, with final payment in February 2017
Long-term Debt, Gross	$ 2,000	5,000
Note 7
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments ranging from $951 to $1,327, including interest, with final payment in March 2017
Long-term Debt, Gross	$ 4,000	11,000
Note 8
Debt Instrument, Description	Installment note payable to bank; interest at 4.85%, due in monthly installments of $922, including interest, with final payment in March 2017
Long-term Debt, Gross	$ 5,000	13,000
Note 9
Debt Instrument, Description	Installment note payable to bank; interest at 1.60%, due in monthly installments of $2,286, including interest, with final payment in May 2017
Long-term Debt, Gross	$ 18,000	38,000
Note 10
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $1,991, including interest, with final payment in June 2017
Long-term Debt, Gross	$ 6,000	12,000
Note 11
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $2,711, including interest, with final payment in May 2017
Long-term Debt, Gross	$ 8,000	16,000
Note 12
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $132 to $663, including interest, with final payment in August 2017
Long-term Debt, Gross	$ 6,000	12,000
Note 13
Debt Instrument, Description	Installment note payable to bank; interest at 4.85%, due in quarterly installments of $1,751, including interest, with final payment in September 2017
Long-term Debt, Gross	$ 7,000	12,000
Note 14
Debt Instrument, Description	Installment note payable to bank; interest at 4.88%, due in quarterly installments of $1,852, including interest, with final payment in October 2017
Long-term Debt, Gross	$ 23,000	39,000
Note 15
Debt Instrument, Description	Installment note payable to bank; interest at 4.23%, due in quarterly installments of $9,663, including interest, with final payment in February 2018
Long-term Debt, Gross	$ 56,000	82,000
Note 16
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in March 2018
Long-term Debt, Gross	$ 3,000	5,000
Note 17
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $278, including interest, with final payment in April 2018
Long-term Debt, Gross	$ 6,000	8,000
Note 18
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $2,797, including interest, with final payment in June 2018
Long-term Debt, Gross	$ 19,000	26,000
Note 19
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $296 to $458, including interest, with final payment in September 2018
Long-term Debt, Gross	$ 6,000	5,000
Note 20
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00% due in monthly installments ranging from $132 to $1,479, including interest, with final payment in September 2018
Long-term Debt, Gross	$ 26,000	38,000
Note 21
Debt Instrument, Description	Installment notes payable to bank; interest at 6.00%, due in monthly installments ranging from $803 to $1,216, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 32,000	41,000
Note 22
Debt Instrument, Description	Installment notes payable to bank; interest at 4.23%, due in quarterly installments of $458, including interest, with final payment in
Long-term Debt, Gross	$ 12,000	0
Note 23
Debt Instrument, Description	Installment note payable to bank; interest at 4.23% due in quarterly installments of $208, including interest, with final payment in November 2018
Long-term Debt, Gross	$ 2,000	0
Note 24
Debt Instrument, Description	Installment note payable to bank; interest at 1.80% due in monthly installments of $2,116, including interest, with final payment in February 2019
Long-term Debt, Gross	$ 60,000	0
Note 25
Debt Instrument, Description	Installment note payable to bank; interest at 1.80% due in monthly installments of $175, including interest, with final payment in March 2019
Long-term Debt, Gross	$ 5,000	0
Note 26
Debt Instrument, Description	Installment note payable to bank; interest at 1.80% due in monthly installments ranging from $121 to $175, including interest, with final payment in April 2019
Long-term Debt, Gross	$ 14,000	$ 0

Notes Payable (Details 1)

Notes Payable (Details 1)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Three months ended December 31, 2016	$ 59,000
Year ended December 31, 2017	178,000
Year ended December 31, 2018	78,000
Year ended December 31, 2019	8,000
Long-term Debt	$ 323,000

Notes Payable (Details Narrativ

Notes Payable (Details Narrative)	Sep. 30, 2016USD ($)
Text Block [Abstract]
Carrying Value - Equipment - Notes Payable	$ 530,000

Supplemental Cash Flow Inform31

Supplemental Cash Flow Information (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Lease revenue net of interest expense on notes payable realized as a result of direct payment of principal by lessee to bank	$ 296,000	$ 311,000

Supplemental Cash Flow Inform32

Supplemental Cash Flow Information (Details 1) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Accrued expenses incurred in connection with the purchase of technology equipment	$ 118,000	$ 126,000
Debt assumed in connection with purchase of equipment	0	39,000
Forgiveness of related party payables recorded as a capital contribution	$ 0	$ 20,000

Supplemental Cash Flow Inform33

Supplemental Cash Flow Information (Details Narrative) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Text Block [Abstract]
Fully Amortized Fees Written Off	$ 0	$ 51,000
Fully Depreciated Equipment Written Off	$ 0	$ 6,000