HMG Courtland Properties (HMG) 10-Q 12 Nov 21 2021 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2021	Nov. 12, 2021
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2021
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q3
Entity Registrant Name	HMG COURTLAND PROPERTIES INC
Entity Central Index Key	0000311817
Current Fiscal Year End Date	--12-31
Entity File Number	1-7865
Entity Tax Identification Number	59-1914299
Entity Common Stock, Shares Outstanding		1,016,848
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Incorporation, State or Country Code	DE
Entity Address, Address Line One	1870 S. Bayshore Drive
Entity Address, Address Line Two	Coconut Grove
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33133
City Area Code	305
Local Phone Number	854-6803
Entity Filer Category	Non-accelerated Filer
Entity Shell Company	false
Entity Small Business	true
Entity Emerging Growth Company	false
Title of 12(b) Security	Common Stock
Trading Symbol	HMG
Security Exchange Name	NYSE
Document Quarterly Report	true
Document Transition Report	false

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Investment properties, net of accumulated depreciation:
Office building and other commercial property	$ 1,416,305	$ 1,431,539
Total investment properties, net	1,416,305	1,431,539
Cash and cash equivalents	4,729,572	4,883,923
Investments in marketable securities	2,814,927	3,406,328
Other investments	4,848,153	4,940,403
Investment in affiliate	1,144,854	1,206,782
Loans, notes and other receivables	1,638,851	1,419,760
Investment in residential real estate partnership	3,270,896	3,552,896
Other assets	46,771	49,937
TOTAL ASSETS	19,910,329	20,891,568
LIABILITIES
Note payable to affiliate	400,000	650,000
Accounts payable, accrued expenses and other liabilities	118,540	206,402
Deferred income tax liability	195,623	107,237
Amounts due to Adviser for incentive fee	45,487	0
Dividends payable	0	503,624
TOTAL LIABILITIES	759,650	1,467,263
STOCKHOLDERS' EQUITY
Excess common stock, $1 par value; 100,000 shares authorized: no shares issued	0	0
Common stock, $1 par value; 1,050,000 shares authorized, 1,016,848 shares issued and outstanding as of September 30, 2021 and 1,013,292 shares issued and 1,007,248 outstanding as of December 31, 2020	1,016,848	1,013,292
Additional paid-in capital	23,919,818	23,859,686
Less: Treasury shares at cost zero and 6,044 shares as of September 30, 2021 and December 31, 2020, respectively	0	(66,392)
Accumulated deficit	(6,035,523)	(5,623,557)
Total stockholders' equity	18,901,143	19,183,029
Noncontrolling interest	249,536	241,276
TOTAL EQUITY	19,150,679	19,424,305
TOTAL LIABILITIES AND EQUITY	$ 19,910,329	$ 20,891,568

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2021	Dec. 31, 2020
Stockholders' Equity, Number of Shares, Par Value and Other Disclosures [Abstract]
Excess common stock, par value	$ 1	$ 1
Excess common stock, shares authorised	100,000	100,000
Excess common stock, shares issued	0	0
Common stock par value	$ 1	$ 1
Common Stock, Shares Authorized	1,050,000	1,050,000
Common Stock, Shares, Outstanding	1,016,848	1,007,248
Common Stock, Shares, Issued	1,016,848	1,013,292
Treasury Stock, Shares	0	6,044

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS INCOME - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
REVENUES
Real estate rentals and related revenue	$ 20,282	$ 19,515	$ 60,844	$ 58,546
Total Revenues	20,282	19,515	60,844	58,546
Operating expenses:
Rental and other properties	22,370	26,603	117,915	60,384
Adviser's base fee	165,000	165,000	495,000	495,000
General and administrative	32,945	30,911	155,260	135,672
Professional fees and expenses	24,739	18,204	206,820	133,132
Directors' fees and expenses	24,191	19,000	65,058	56,250
Depreciation and amortization	3,849	3,849	11,548	11,548
Interest expense	3,277	5,326	11,210	24,655
Total expenses	276,371	268,893	1,062,811	916,641
Loss before other income and income taxes	(256,089)	(249,378)	(1,001,967)	(858,095)
Net realized and unrealized gains (losses) from marketable securities	88,663	119,306	280,505	(266,200)
Equity income (loss) from operations of residential real estate partnership	19,000	0	(282,000)	0
Net income from other investments	374,197	67,896	506,746	240,163
Other than temporary impairment losses from other investments	0	0	0	(315,000)
Interest, dividend and other income	67,523	71,208	189,090	248,676
Total other income (loss)	549,383	258,410	694,341	(92,361)
Income (loss) before income taxes	293,294	9,032	(307,627)	(950,456)
(Provision for) benefit from income taxes	(63,921)	76,196	(96,078)	29,158
Net (loss) income	229,373	(67,164)	(403,705)	(921,298)
(Gain) loss from non-controlling interest	(4,528)	(3,689)	(8,261)	11,439
Net (loss) income attributable to the company	$ 224,845	$ (70,853)	$ (411,966)	$ (909,859)
Weighted average common shares outstanding-basic and diluted	1,016,848	1,007,248	1,010,694	1,010,753
Net income (loss) per common share:
Basic and diluted net income (loss) per share	$ 0.22	$ (0.07)	$ (0.41)	$ (0.90)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Treasury Stock [Member]
Balance at Dec. 31, 2019	$ 20,805,159	$ 1,013,292	$ 23,859,686	$ (4,067,819)	$ 0
Balance (in shares) at Dec. 31, 2019		1,013,292			0
Net Income (Loss)	(964,869)	$ 0	0	(964,869)	$ 0
Balance at Mar. 31, 2020	19,840,290	$ 1,013,292	23,859,686	(5,032,688)	$ 0
Balance (in shares) at Mar. 31, 2020		1,013,292			0
Balance at Dec. 31, 2019	20,805,159	$ 1,013,292	23,859,686	(4,067,819)	$ 0
Balance (in shares) at Dec. 31, 2019		1,013,292			0
Net Income (Loss)	(909,859)
Retirement of 6,044 treasury shares	0
Balance at Sep. 30, 2020	19,828,908	$ 1,013,292	23,859,686	(4,977,677)	$ (66,392)
Balance (in shares) at Sep. 30, 2020		1,013,292			6,044
Balance at Mar. 31, 2020	19,840,290	$ 1,013,292	23,859,686	(5,032,688)	$ 0
Balance (in shares) at Mar. 31, 2020		1,013,292			0
Net Income (Loss)	125,863	$ 0	0	125,863	$ 0
Purchased treasury shares	(66,392)	$ 0	0	0	$ (66,392)
Purchased treasury shares (in shares)		0			6,044
Balance at Jun. 30, 2020	19,899,761	$ 1,013,292	23,859,686	(4,906,825)	$ (66,392)
Balance (in shares) at Jun. 30, 2020		1,013,292			6,044
Net Income (Loss)	(70,853)	$ 0	0	(70,853)	$ 0
Balance at Sep. 30, 2020	19,828,908	$ 1,013,292	23,859,686	(4,977,677)	$ (66,392)
Balance (in shares) at Sep. 30, 2020		1,013,292			6,044
Balance at Dec. 31, 2020	$ 19,183,029	$ 1,013,292	23,859,686	(5,623,557)	$ (66,392)
Balance (in shares) at Dec. 31, 2020	1,007,248	1,013,292			6,044
Net Income (Loss)	$ (375,581)	$ 0	0	(375,581)	$ 0
Balance at Mar. 31, 2021	18,807,448	$ 1,013,292	23,859,686	(5,999,138)	$ (66,392)
Balance (in shares) at Mar. 31, 2021		1,013,292			6,044
Balance at Dec. 31, 2020	$ 19,183,029	$ 1,013,292	23,859,686	(5,623,557)	$ (66,392)
Balance (in shares) at Dec. 31, 2020	1,007,248	1,013,292			6,044
Net Income (Loss)	$ (411,966)
Retirement of 6,044 treasury shares	66,392
Balance at Sep. 30, 2021	$ 18,901,143	$ 1,016,848	23,919,818	(6,035,523)	$ 0
Balance (in shares) at Sep. 30, 2021	1,016,848	1,016,848			0
Balance at Mar. 31, 2021	$ 18,807,448	$ 1,013,292	23,859,686	(5,999,138)	$ (66,392)
Balance (in shares) at Mar. 31, 2021		1,013,292			6,044
Net Income (Loss)	(261,230)	$ 0	0	(261,230)	$ 0
Stock Options Exercised	130,080	$ 9,600	120,480	0	$ 0
Stock Options Exercised (in shares)		9,600			0
Retirement of 6,044 treasury shares	$ 0	$ (6,044)	(60,348)	0	$ 66,392
Retirement of 6,044 treasury shares (in shares)	6,044	(6,044)			(6,044)
Balance at Jun. 30, 2021	$ 18,676,298	$ 1,016,848	23,919,818	(6,260,368)
Balance (in shares) at Jun. 30, 2021		1,016,848			0
Net Income (Loss)	224,845	$ 0	0	224,845	$ 0
Balance at Sep. 30, 2021	$ 18,901,143	$ 1,016,848	$ 23,919,818	$ (6,035,523)	$ 0
Balance (in shares) at Sep. 30, 2021	1,016,848	1,016,848			0

CONSOLIDATED STATEMENTS OF CHAN

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY (Parenthetical)	3 Months Ended
	Jun. 30, 2021shares
Retirement of treasury shares	6,044

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss attributable to the Company	$ (411,966)	$ (909,859)
Adjustments to reconcile net loss attributable to the Company to net cash used in operating activities:
Depreciation expense	11,548	11,548
Net income from other investments, excluding impairment losses	(506,746)	(240,163)
Other than temporary impairment losses from other investments	0	315,000
Loss on sale of land	29,210	0
Equity loss from operations of residential real estate partnership	282,000	0
Net (gains) losses from investments in marketable securities	(280,505)	266,200
Net income (loss) attributable to noncontrolling interest	8,261	(11,439)
Deferred income taxes	88,385	(29,158)
Changes in assets and liabilities:
Other assets and other receivables	(43,735)	(86,781)
Accounts payable, accrued expenses and other liabilities	(86,898)	(310,877)
Total adjustments	(498,480)	(85,670)
Net cash used in operating activities	(910,446)	(995,529)
CASH FLOWS FROM INVESTING ACTIVITIES:
Net proceeds from sales and redemptions of marketable securities	1,727,442	1,212,702
Investments in marketable securities	(820,537)	(1,060,453)
Distributions from other investments	1,034,222	597,668
Contributions to other investments	(503,601)	(227,268)
Proceeds from collections of mortgage loans, notes and other receivables	250	1,200,000
Distribution from affiliate	138,062	220,899
Purchases and improvements of properties	(203,687)	0
Proceeds from sale of property	129,926	0
Additions in loans, notes, and other receivables	(122,438)	0
Net cash provided by investing activities	1,379,639	1,943,548
CASH FLOWS FROM FINANCING ACTIVITIES:
Margin borrowings, net of repayments	0	(8,008,167)
Dividend paid	(503,624)	(506,646)
Repayment of note payable to affiliate	(250,000)	(350,000)
Stock options exercised	130,080	0
Purchase of treasury shares	0	(66,392)
Net cash used in financing activities	(623,544)	(8,931,205)
Net decrease in cash and cash equivalents	(154,351)	(7,983,186)
Cash and cash equivalents at beginning of the period	4,883,923	15,382,596
Cash and cash equivalents at end of the period	4,729,572	7,399,410
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Cash paid during the period for interest	11,000	25,000
NONCASH INVESTING AND FINANCING ACTIVITIES:
Retirement of treasury stock during the period	66,392	0
Accrual of construction costs incurred in period but not paid (Vermont)	1,762	0
Mortgage receivable on sale of land during the period (Rhode Island)	$ 48,416	$ 0

CONDENSED CONSOLIDATED FINANCIA

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS	9 Months Ended
	Sep. 30, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Condensed Consolidated Financial Statements	1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS In the opinion of the Company, the accompanying unaudited condensed consolidated financial statements prepared in accordance with instructions for Form 10-Q, include all adjustments (consisting only of normal recurring accruals) which are necessary for a fair presentation of the results for the periods presented. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted. It is suggested that these condensed consolidated financial statements be read in conjunction with the Company's Annual Report for the year ended December 31, 2020. The balance sheet as of December 31, 2020 was derived from audited consolidated financial statements as of that date. The results of operations for the three and nine months ended September 30, 2021 are not necessarily indicative of the results to be expected for the full year. The condensed consolidated financial statements include the accounts of HMG/Courtland Properties, Inc. (the "Company" or “HMG”) and entities in which the Company owns a majority voting interest or controlling financial interest. All material transactions and balances with consolidated and unconsolidated entities have been eliminated in consolidation or as required under the equity method. The Company reclassified certain amounts within its condensed consolidated balance sheet and statement of changes in stockholders’ equity to conform to current period presentation. The reclassifications include $54.1 million from undistributed gains from sales of properties, net of losses and $59.1 million from undistributed losses from operations to an accumulated deficit of $5.0 million as of September 30, 2020 and $54.1 million from undistributed gains from sales of properties, net of losses and $58.2 million from undistributed losses from operations to an accumulated deficit of $5.6 million as of December 31, 2020. These reclassifications had no impact on the Company’s previously reported results of operations or cash flows.

REVOCATION OF REIT STATUS AND L

REVOCATION OF REIT STATUS AND LIQUIDATION	9 Months Ended
	Sep. 30, 2021
Disclosure of Revocation of Reiit Status and Liquidations [Abstract]
Revocation Of Reiit Status And Liquidations	2. REVOCATION OF REIT STATUS AND LIQUIDATION As previously reported in Form 8-K on June 14, 2021, management is considering revoking (the “Revocation”) the real estate investment trust (“REIT”) status of the Company, followed by the adoption of a plan of liquidation (the “Liquidation”) of the Company, subject to approval by the Board of Directors and majority vote of shareholders. The purpose of this Revocation and Liquidation is to liquidate the Company’s operations/assets in an orderly manner based upon market conditions permitting reasonable exit values for its existing portfolios. Because of the complexities associated with maintaining REIT status during this Liquidation and a two-year REIT liquidation constraint, if ultimately executed, the Company plans to revoke REIT status effective January 1, 2022, and undertake this Liquidation process over a multi-year period. Reference is made to footnote 7 Subsequent Event

NEW ACCOUNTING PRONOUNCEMENTS

NEW ACCOUNTING PRONOUNCEMENTS	9 Months Ended
	Sep. 30, 2021
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	3. NEW ACCOUNTING PRONOUNCEMENTS There are several new accounting pronouncements issued or proposed by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe any of these accounting pronouncements has had or will have a material impact on the Company’s condensed consolidated financial position, operating results, or cash flow.

INVESTMENT IN RESIDENTIAL REAL

INVESTMENT IN RESIDENTIAL REAL ESTATE PARTNERSHIP (FORT MYERS, FL)	9 Months Ended
	Sep. 30, 2021
Investment In Real Estate Partnership [Abstract]
Investment In Residential Real Estate Partnership	4. INVESTMENT IN RESIDENTIAL REAL ESTATE PARTNERSHIP (FORT MYERS, FL) Pursuant to the terms of a Construction and Mini Perm Loan Agreement ("Loan Agreement"), between Murano At Three Oaks Associates LLC, a Florida limited liability company formed in September 2018 (the “Borrower” or “Murano”) which is 25% owned by HMG, and PNC Bank, National Association ("Lender"), Lender provided a construction loan to the Borrower for the principal sum of approximately $41.59 million (“Loan”). The proceeds of the Loan were used to finance the construction of multi-family residential apartments containing 318 units totaling approximately 312,000 net rentable square feet on a 17.5-acre site located in Fort Myers, Florida ("Project"). The Project site was purchased by the Borrower concurrently with the closing of the Loan. Total development costs for the Project were approximately $54.1 million, or $2 million less than originally projected. The Borrower’s equity totals approximately $14.5 million. HMG’s share of the equity is 25%, or approximately $3.6 million. As of September 30, 2021, the outstanding balance on the Loan was approximately $39.5 million. The Project has been completed and the final certificate of occupancy was obtained in March 2021. The Project is approximately 97% leased. For the nine months ended September 30, 2021 Murano reported a net loss of $1.1 million including $920,000 income from operations, depreciation and amortization of $1.5 million and $559,000 of interest expense. HMG’s portion of the 2021 loss was $282,000. As of September 30, 2021 the carrying value of this investment is approximately $3.3 million. HMG and the other members (or affiliates thereof) of the Borrower ("Guarantors") entered into a Completion Guaranty ("Completion Guaranty") and a Guaranty and Suretyship Agreement ("Repayment Guaranty") (collectively, the “Guaranties”). Under the Completion Guaranty, each Guarantor shall unconditionally guaranty, as a primary obligor, and become surety for the prompt payment and performance by Borrower of the “Guaranteed Obligations” (as defined). Under the Repayment Guaranty, Guarantor unconditionally guarantees, as a primary obligor, and becomes surety for the prompt payment and performance of, as defined (i) all Interest Obligations, (ii) all Loan Document Obligations, (iii) all Expense Obligations, (iv) the Carrying Cost Obligations, (v) the Principal Amount, (vi) interest on each of the foregoing including, if applicable, interest at the Default Rate (as defined). At all times prior to the First Reduction Date (as defined below), the Guarantors are collectively responsible for 30% of the Principal Obligations, (ii) at all times after the First Reduction Date, the Guarantors are collectively responsible for 15% of the Principal Obligations, and (iii) at all times after the Second Reduction Date, 0% of the Principal Obligations. First Reduction Date occurs upon satisfaction of the following conditions: (i) no Event of Default has occurred and is continuing; (ii) Completion of Construction has occurred; and (iii) the Project has achieved a DSCR of not less than 1.25 to 1.00 for two (2) consecutive fiscal quarters. Each Guarantor is required to maintain compliance with the following financial covenants, as defined: (1) liquidity shall not be less than $2.5 million. Liquidity is defined as the sum of unencumbered, unrestricted cash and cash equivalents and marketable securities, and (2) net worth shall not be less than $10 million. As of September 30, 2021, HMG was in compliance with all covenants required by Guarantors in the Loan Agreement.

260 RIVER CORP. MONTPELIER, VER

260 RIVER CORP. MONTPELIER, VERMONT	9 Months Ended
	Sep. 30, 2021
Two sixty River Montpelier Vermont [Abstract]
260 RIVER CORP. MONTPELIER, VERMONT	5. 260 RIVER CORP. MONTPELIER, VERMONT The Company’s property located in Montpelier Vermont has completed the required environmental remediation as previously disclosed. Groundwater monitoring is ongoing and will continue on a long term (annually or biannually) until levels of contaminants reach acceptable levels . The costs of such monitoring are expected to be less than $4,000 per year. The owners agreed with a local developer on a fixed fee of $500,000 to remediate the property, of which a balance of approximately $61,000 is owed and payable upon the property receiving a Certificate of Completion (COC) from the State of Vermont Agency of Natural Resources (“ANR”). The COC provides certain liability protections for environmental contamination at the property under Vermont’s Brownfields Reuse and Environmental Liability Limitation Act program (“BRELLA”). We are expecting to receive the COC in the fourth quarter of 2021. In August 2020, the existing owners of the property amended and restated the previously reported Pre-Development Agreement. The Amended and Restated Pre-Development Agreement calls for the transfer of 50% of our interest in the property to the local developer which remediated the property and 10% to an unrelated real estate consultant which has assisted us in the process of remediating and developing the property. The transfer of ownership will occur upon receipt of the COC and will result in the Company owning approximately 28% of the project thereafter. Also, in August 2020, we entered into a lease agreement with an unrelated party which covers approximately 3.5 acres of land and existing improvements together with an expansion building of approximately 8,000 square feet. The term of the lease will commence on the earlier of: (a) 30 days after the date the project is substantially completed (as defined); or (b) the date that the tenant opens for business (the “Commencement Date”) and shall continue until the 10 th ten On March 1, 2021 the project was completed, a certificate of occupancy was obtained, and the lease commenced upon tenant taking possession of the property. The total costs of renovation and construction was approximately $2.5 million. The Company’s portion of the total costs (28% ownership) is approximately $726,000 of which $717,000 has been paid as of September 30, 2021 and $9,000 is accrued as of September 30,

INVESTMENTS IN MARKETABLE SECUR

INVESTMENTS IN MARKETABLE SECURITIES	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Investments in Debt and Marketable Equity Securities	6. INVESTMENTS IN MARKETABLE SECURITIES Investments in marketable securities consist primarily of large capital corporate equity and debt securities in varying industries or issued by government agencies with readily determinable fair values. These securities are stated at market value, as determined by the most recent traded price of each security at the balance sheet date. Consistent with the Company's overall current investment objectives and activities its entire marketable securities portfolio is classified as trading. Accordingly, all unrealized gains (losses) on this portfolio are recorded in income. Included in investments in marketable securities is approximately $1.0 million and $1.7 million in preferred stock of large capital real estate investment trusts (REITs) as of September 30, 2021 and December 31, 2020, respectively. Net realized and unrealized gain (loss) from investments in marketable securities for the three and nine months ended September 30, 2021 and 2020 is summarized below: Three months ended Nine months ended September 30, September 30, Description 2021 2020 2021 2020 Net realized gain (loss) from sales of securities $ 83,000 $ (9,000 ) $ 30,000 $ (80,000 ) Unrealized net gain (loss) of securities 6,000 128,000 250,000 (186,000 ) Total net gain (loss) from investments in marketable securities $ 89,000 $ 119,000 $ 280,000 $ (266,000 ) For the three months ended September 30, 2021, net realized gains from sales of marketable securities of approximately $83,000 consisted of approximately $89,000 of gross gains net of $6,000 of gross losses. For the nine months ended September 30, 2021, net realized gain from sales of marketable securities of approximately $30,000 consisted of approximately $140,000 of gross gains net of $110,000 of gross losses. For the three months ended September 30, 2020, net realized loss from sales of marketable securities was approximately $9,000 which consisted of $30,000 of gross losses net of $21,000 of gross gains. For the nine months ended September 30, 2020, net realized loss from sales of marketable securities was approximately $80,000 and consisted of $138,000 of gross losses net of $58,000 of gross gains.

OTHER INVESTMENTS

OTHER INVESTMENTS	9 Months Ended
	Sep. 30, 2021
Investments, All Other Investments [Abstract]
Investments and Other Noncurrent Assets	7. OTHER INVESTMENTS As of September 30, 2021, the Company’s portfolio of other investments had an aggregate carrying value of approximately $4.85 million and we have committed to fund approximately $1.00 million as required by agreements with the investees. The carrying value of these investments is equal to contributions less distributions and impairment valuation adjustments, if any. During the nine months ended September 30, 2021, we made cash contributions to other investments of approximately $504,000. This consisted of $200,000 as an addition to our existing investment in a multi-family residential building located in Hollywood, Florida, $50,000 in a new co-investment in one of the existing portfolio companies of our diversified technology fund, $50,000 in a start-up technology fund, and we committed a total of $500,000 (of which approximately $137,000 has been funded), in a new private equity fund which will invest in various technology innovators globally. We also funded approximately $67,000 in follow on commitments of existing investments. During the nine months ended September 30, 2021, we received cash distributions from other investments of approximately $1.03 million. This included distributions of approximately $584,000 from our investment in a multi-family residential property located in Orlando, Florida which was sold during this quarter. We recognized a gain of $315,000 from this investment. We also received approximately $129,000 in distributions from a real estate fund holding investments in Asia, $78,000 in distributions from our investments in two entities that provide mortgage loans, and various small distributions totaling approximately $243,000 from other existing investments. In August 2021, one of our other investments in a private bank located in Palm Beach, Florida merged with a publicly traded bank, and we exchanged our original shares for shares in the publicly traded bank. Accordingly, we have reclassified this investment as marketable securities, and as of September 30, 2021 this investment with historical cost basis of $35,000 has an unrealized gain of approximately $128,000. Net income from other investments for the three and nine months ended September 30, 2021, and 2020, is summarized below: Three months ended Nine months ended September 30, September 30, Investment Description 2021 2020 2021 2020 Partnerships owning real estate and related investments $ 311,000 71,000 $ 361,000 $ 235,000 Partnerships owning diversified businesses 17,000 - 70,000 8,000 Technology and related investments - - - 14,000 Income (loss) from investment in 49% owned affiliate (T.G.I.F. Texas, Inc.) 46,000 3,000 76,000 (17,000 ) Total net income from other investments $ 374,000 $ 68,000 $ 507,000 $ 240,000 When evaluating the investments for other-than-temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and any changes thereto, and the Company’s intent to sell, or whether it is more likely than not it will be required to sell, the investment before recovery of the investment’s amortized cost basis. There were no Other-Than-Temporary Impairments (“OTTI”) adjustments for the three and nine months ended September 30, 2021. For the nine months ended September 30, 2020, in accordance with ASC Topic 320-10-65, Recognition and Presentation of, we recognized a total of $315,000 OTTI valuation adjustments. In the second quarter of 2020, we recorded two OTTI adjustments. One for $90,000 which was an additional write down relating to the investment in a small business investment company licensed by the Small Business Administration in which we invested $300,000 in 2007. Distributions to date from this investment total $68,000. We wrote this investment down by $50,000 in the first quarter of 2020. The carrying value of this investment is $92,000 after the OTTI adjustments. The other OTTI adjustment in this quarter was for $175,000 for an investment in a $2 billion global fund which invests in oil exploration and production which we committed $500,000 in September 2015. To date we have funded substantially all of our commitment and have received $205,000 in distributions from this investment. The write down was based on net asset value reported by the sponsor and takes into consideration the current disruptions in the oil markets as a result of the economic fall out of the pandemic.

FAIR VALUE OF FINANCIAL INSTRUM

FAIR VALUE OF FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	8. FAIR VALUE OF FINANCIAL INSTRUMENTS In accordance with ASC Topic 820, the Company measures cash and cash equivalents, marketable debt and equity securities at fair value on a recurring basis. Other investments are measured at fair value on a nonrecurring basis. The following are the major categories of assets and liabilities measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020, using quoted prices in active markets for identical assets (Level 1) and significant other observable inputs (Level 2). For the periods presented, there were no major assets measured at fair value on a recurring basis which uses significant unobservable inputs (Level 3): Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair value measurement at reporting date using Quoted Prices in Active Total Markets for Significant Other Significant September 30, Identical Assets Observable Inputs Unobservable Inputs Description 2021 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Money market mutual funds $ 1,874,000 $ 1,874,000 $ - $ - US T-bills 1,900,000 1,900,000 - - Marketable securities: Corporate debt securities 593,000 - 593,000 - Marketable equity securities 2,222,000 2,222,000 - - Total assets $ 6,589,000 $ 5,996,000 $ 593,000 $ - Fair value measurement at reporting date using Quoted Prices in Active Total Markets for Significant Other Significant December 31, Identical Assets Observable Inputs Unobservable Inputs Description 2020 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Money market mutual funds $ 1,496,000 $ 1,496,000 $ - $ - US T-bills 2,900,000 2,900,000 - - Marketable securities: Corporate debt securities 613,000 - 613,000 - Marketable equity securities 2,793,000 2,793,000 - - Total assets $ 7,802,000 $ 7,189,000 $ 613,000 $ - Carrying amount is the estimated fair value for corporate debt securities and time deposits based on a market-based approach using observable (Level 2) inputs such as prices of similar assets in active markets.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Income Tax Disclosure	9. INCOME TAXES The Company as a qualifying REIT distributes its taxable ordinary income to stockholders in conformity with requirements of the Internal Revenue Code and is not required to report deferred items due to its ability to distribute all taxable income. In addition, net operating losses can be carried forward to reduce future taxable income but cannot be carried back. The Company’s 95%-owned taxable REIT subsidiary, CII, files a separate income tax return and its operations are not included in the REIT’s income tax return. Distributed capital gains on sales of real estate as they relate to REIT activities are not subject to taxes; however, undistributed capital gains may be subject to corporate tax. On December 11, 2020 the Company declared a dividend of $0.50 per share (100% return of capital) which was payable on January 12, 2021 to all shareholders of record as of December 29, 2020. On December 13, 2019 the Company declared a dividend of $0.50 per share (100% return of capital) which was payable on January 13, 2020 to all shareholders of record as of December 30, 2019. The Company accounts for income taxes in accordance with ASC Topic 740, “Accounting for Income Taxes.” ASC Topic 740 requires a Company to use the asset and liability method of accounting for income taxes. Under this method, deferred income taxes are recognized for the tax consequences of “temporary differences” by applying enacted statutory tax rates applicable to future years to differences between the financial statement carrying amounts and the tax basis of existing assets and liabilities. The effect on deferred income taxes of a change in tax rates is recognized in income in the period that includes the enactment date. Deferred taxes only pertain to CII. As of September 30, 2021 and December 31, 2020, the Company reported a net deferred tax liability of $196,000, and $107,000, respectively. Deferred taxes are primarily a result of timing differences associated with the carrying value of the investment in affiliate (TGIF), other investments and investments in marketable securities. The benefit from income taxes in the condensed consolidated statements of income consists of the following: Nine months ended September 30, 2021 2020 Current: Federal $ - $ - State (8,000 ) 2,000 (8,000 ) 2,000 Deferred: Federal $ (40,000 ) $ 49,000 State (7,000 ) 4,000 (47,000 ) 53,000 Tax (provision) benefit before valuation allowance (55,000 ) 55,000 Valuation Allowance (41,000 ) (26,000 ) Total $ (96,000 ) $ 29,000 The Company follows the provisions of ASC Topic 740-10, “Accounting for Uncertainty in Income Taxes” which clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements in accordance with ASC Topic 740 and prescribes a recognition threshold and measurement process for financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. This topic also provides guidance on de-recognition, classification, interest and penalties, accounting in interim periods, disclosure and transition. Based on our evaluation, we have concluded that there are no significant uncertain tax positions requiring recognition in our consolidated financial statements. Our evaluation was performed for the tax year ended December 31, 2020. The Company’s federal income tax returns since 2018 are subject to examination by the Internal Revenue Service, generally for a period of three years after the returns were filed. We may from time to time be assessed interest or penalties by major tax jurisdictions, although any such assessments historically have been minimal and immaterial to our financial results. In the event we have received an assessment for interest and/or penalties, it has been classified in the condensed consolidated financial statements as general and administrative expense.

STOCK OPTIONS

STOCK OPTIONS	9 Months Ended
	Sep. 30, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Disclosure of Compensation Related Costs, Share-based Payments	10. STOCK OPTIONS During the nine months ended September 30 , 2021, options for 9,600 shares were exercised. There were no options granted, expired or forfeited. During the nine months ended September 30, 2020, there were no options exercised, granted, expired or forfeited. The following table summarizes information concerning outstanding and exercisable options as of September 30, 2021: Number of securities to be issued upon Number of securities exercise of Weighted-average remaining available for future outstanding exercise price of issuance under equity options outstanding options compensation plans Equity compensation plan approved by shareholders 9,600 $ 13.55 42,752 Options exercised (9,600 ) 13.55 - Equity compensation plan not approved by shareholders - - - Total - $ - 42,752

RELATED PARTY EXPENSE

RELATED PARTY EXPENSE	9 Months Ended
	Sep. 30, 2021
Related Party Transactions [Abstract]
Related Party Expense	11. RELATED PARTY EXPENSE The Company’s new director, Alan Finkelstein, is a consultant to HMGA, Inc. (the “Adviser”) and receives $2,000 per month from the Adviser for his bookkeeping services.

SUBSEQUENT EVENT

SUBSEQUENT EVENT	9 Months Ended
	Sep. 30, 2021
Subsequent Events [Abstract]
Subsequent Event	12. SUBSEQUENT EVENT On November 3, 2021 the Company’s Board of Directors determined that it is advisable and in the best interests of the Company and its stockholders to dissolve the Company subject to obtaining the requisite approval of the Company’s stockholders which is expected to take place in January 2022.

NEW ACCOUNTING PRONOUNCEMENTS (

NEW ACCOUNTING PRONOUNCEMENTS (Policies)	9 Months Ended
	Sep. 30, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy	There are several new accounting pronouncements issued or proposed by the FASB. Each of these pronouncements, as applicable, has been or will be adopted by the Company. Management does not believe any of these accounting pronouncements has had or will have a material impact on the Company’s condensed consolidated financial position, operating results, or cash flow.

INVESTMENTS IN MARKETABLE SEC_2

INVESTMENTS IN MARKETABLE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract]
Gain (Loss) on Securities	Net realized and unrealized gain (loss) from investments in marketable securities for the three and nine months ended September 30, 2021 and 2020 is summarized below: Three months ended Nine months ended September 30, September 30, Description 2021 2020 2021 2020 Net realized gain (loss) from sales of securities $ 83,000 $ (9,000 ) $ 30,000 $ (80,000 ) Unrealized net gain (loss) of securities 6,000 128,000 250,000 (186,000 ) Total net gain (loss) from investments in marketable securities $ 89,000 $ 119,000 $ 280,000 $ (266,000 )

OTHER INVESTMENTS (Tables)

OTHER INVESTMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Investments, All Other Investments [Abstract]
Investment Holdings, Schedule of Investments	Net income from other investments for the three and nine months ended September 30, 2021, and 2020, is summarized below: Three months ended Nine months ended September 30, September 30, Investment Description 2021 2020 2021 2020 Partnerships owning real estate and related investments $ 311,000 71,000 $ 361,000 $ 235,000 Partnerships owning diversified businesses 17,000 - 70,000 8,000 Technology and related investments - - - 14,000 Income (loss) from investment in 49% owned affiliate (T.G.I.F. Texas, Inc.) 46,000 3,000 76,000 (17,000 ) Total net income from other investments $ 374,000 $ 68,000 $ 507,000 $ 240,000

FAIR VALUE OF FINANCIAL INSTR_2

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2021
Fair Value Disclosures [Abstract]
Fair Value, by Balance Sheet Grouping	Assets and liabilities measured at fair value on a recurring basis are summarized below: Fair value measurement at reporting date using Quoted Prices in Active Total Markets for Significant Other Significant September 30, Identical Assets Observable Inputs Unobservable Inputs Description 2021 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Money market mutual funds $ 1,874,000 $ 1,874,000 $ - $ - US T-bills 1,900,000 1,900,000 - - Marketable securities: Corporate debt securities 593,000 - 593,000 - Marketable equity securities 2,222,000 2,222,000 - - Total assets $ 6,589,000 $ 5,996,000 $ 593,000 $ - Fair value measurement at reporting date using Quoted Prices in Active Total Markets for Significant Other Significant December 31, Identical Assets Observable Inputs Unobservable Inputs Description 2020 (Level 1) (Level 2) (Level 3) Assets: Cash equivalents: Money market mutual funds $ 1,496,000 $ 1,496,000 $ - $ - US T-bills 2,900,000 2,900,000 - - Marketable securities: Corporate debt securities 613,000 - 613,000 - Marketable equity securities 2,793,000 2,793,000 - - Total assets $ 7,802,000 $ 7,189,000 $ 613,000 $ -

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2021
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit)	The benefit from income taxes in the condensed consolidated statements of income consists of the following: Nine months ended September 30, 2021 2020 Current: Federal $ - $ - State (8,000 ) 2,000 (8,000 ) 2,000 Deferred: Federal $ (40,000 ) $ 49,000 State (7,000 ) 4,000 (47,000 ) 53,000 Tax (provision) benefit before valuation allowance (55,000 ) 55,000 Valuation Allowance (41,000 ) (26,000 ) Total $ (96,000 ) $ 29,000

STOCK OPTIONS (Tables)

STOCK OPTIONS (Tables)	9 Months Ended
	Sep. 30, 2021
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range	The following table summarizes information concerning outstanding and exercisable options as of September 30, 2021: Number of securities to be issued upon Number of securities exercise of Weighted-average remaining available for future outstanding exercise price of issuance under equity options outstanding options compensation plans Equity compensation plan approved by shareholders 9,600 $ 13.55 42,752 Options exercised (9,600 ) 13.55 - Equity compensation plan not approved by shareholders - - - Total - $ - 42,752

CONDENSED CONSOLIDATED FINANC_2

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (Details Textual) - USD ($)	Sep. 30, 2021	Dec. 31, 2020	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Undistributed gains from sales of properties, net of losses		$ 54,100,000	$ 54,100,000
Undistributed losses from operations		58,200,000	59,100,000
Accumulated deficit	$ 6,035,523	$ 5,623,557	$ 5,000,000

INVESTMENT IN RESIDENTIAL REA_2

INVESTMENT IN RESIDENTIAL REAL ESTATE PARTNERSHIP (FORT MYERS, FL) (Details Textual)	Jul. 19, 2019USD ($)aft²units	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Number of Units in Real Estate Property | units	318
Depreciation, Depletion and Amortization, Nonproduction		$ 3,849	$ 3,849	$ 11,548	$ 11,548
Interest expense		3,277	5,326	11,210	24,655
Net Income (Loss) from Real Estate Investment Partnership		19,000	$ 0	(282,000)	$ 0
Long term construction loan		$ 39,500,000		39,500,000
PNC Bank National Association [Member]
Equity Method Investment, Underlying Equity in Net Assets	$ 14,500,000
Debt Instrument, Face Amount	41,590,000
Murano At Three Oaks Associates LLC [Member]
Equity Method Investment, Underlying Equity in Net Assets	$ 3,600,000
Equity Method Investment, Ownership Percentage	25.00%
Depreciation, Depletion and Amortization, Nonproduction				1,500,000
Interest expense				559,000
Net Income (Loss) from Real Estate Investment Partnership				1,100,000
Profit (Loss) from Real Estate Operations				$ 920,000
Percentage of property leased				97.00%
Murano At Three Oaks Associates LLC [Member] | Hmg [Member]
Net Income (Loss) from Real Estate Investment Partnership				$ 282,000
Fort Myers Florida [Member]
Guarantor Obligations Financial Compliance Covenants	Each Guarantor is required to maintain compliance with the following financial covenants, as defined: (1) liquidity shall not be less than $2.5 million. Liquidity is defined as the sum of unencumbered, unrestricted cash and cash equivalents and marketable securities, and (2) net worth shall not be less than $10 million.
Development Costs, Period Cost	$ 54,100,000
Area Of Land Available For Renting | ft²	312,000
Area of Land | a	17.5
Fort Myers Florida [Member] | Financial Guarantee [Member] | Reduction Of Rate One [Member]
Guarantor Obligation Percentage Loans Payable		30.00%		30.00%
Fort Myers Florida [Member] | Financial Guarantee [Member] | Reduction Of Rate Two [Member]
Guarantor Obligation Percentage Loans Payable		15.00%		15.00%
Fort Myers Florida [Member] | Financial Guarantee [Member] | Reduction Of Rate Three [Member]
Guarantor Obligation Percentage Loans Payable		0.00%		0.00%
Fort Myers Florida [Member] | Residential Real Estate Partnership [Member] | Equity Method Investments [Member]
Equity method investments carrying value		$ 3,300,000		$ 3,300,000
Fort Myers Florida [Member] | Construction Contracts [Member]
Guarantor Obligations, Term				HMG and the other members (or affiliates thereof) of the Borrower ("Guarantors") entered into a Completion Guaranty ("Completion Guaranty") and a Guaranty and Suretyship Agreement ("Repayment Guaranty") (collectively, the “Guaranties”). Under the Completion Guaranty, each Guarantor shall unconditionally guaranty, as a primary obligor, and become surety for the prompt payment and performance by Borrower of the “Guaranteed Obligations” (as defined). Under the Repayment Guaranty, Guarantor unconditionally guarantees, as a primary obligor, and becomes surety for the prompt payment and performance of, as defined (i) all Interest Obligations, (ii) all Loan Document Obligations, (iii) all Expense Obligations, (iv) the Carrying Cost Obligations, (v) the Principal Amount, (vi) interest on each of the foregoing including, if applicable, interest at the Default Rate (as defined). At all times prior to the First Reduction Date (as defined below), the Guarantors are collectively responsible for 30% of the Principal Obligations, (ii) at all times after the First Reduction Date, the Guarantors are collectively responsible for 15% of the Principal Obligations, and (iii) at all times after the Second Reduction Date, 0% of the Principal Obligations. First Reduction Date occurs upon satisfaction of the following conditions: (i) no Event of Default has occurred and is continuing; (ii) Completion of Construction has occurred; and (iii) the Project has achieved a DSCR of not less than 1.25 to 1.00 for two (2) consecutive fiscal quarters.
Fort Myers Florida [Member] | Construction Contracts [Member] | Minimum [Member]
Liquidity amount		2,500,000		$ 2,500,000
Net worth		$ 10,000,000		$ 10,000,000

260 RIVER CORP. MONTPELIER, V_2

260 RIVER CORP. MONTPELIER, VERMONT (Details Textual)	Aug. 30, 2020USD ($)	Aug. 31, 2020USD ($)aft²	Sep. 30, 2021USD ($)	Sep. 30, 2020USD ($)
Montpelier Vermont Property [Line Items]
Real estate investment fixed fee	$ 500,000
Real estate investment fixed fee owed and payable	$ 61,000
Accrual of construction costs incurred in period but not paid (Vermont)			$ 1,762	$ 0
Montpelier Vermont Property [Member]
Montpelier Vermont Property [Line Items]
Estimated monitoring Construction cost per year			4,000
Montpelier Vermont Property [Member] | Equity Method Investments [Member]
Montpelier Vermont Property [Line Items]
Equity method investments carrying value			838,000
Amended And Restated Predevelopment Agreement [Member] | Montpelier Vermont Property [Member]
Montpelier Vermont Property [Line Items]
Equity Method Investment, Ownership Percentage		28.00%
Amended And Restated Predevelopment Agreement [Member] | Montpelier Vermont Property [Member] | Local Developer [Member]
Montpelier Vermont Property [Line Items]
Percentage of property available for sale		50.00%
Amended And Restated Predevelopment Agreement [Member] | Montpelier Vermont Property [Member] | Real Consultant [Member]
Montpelier Vermont Property [Line Items]
Percentage of property available for sale		10.00%
Leases Agreement [Member] | Montpelier Vermont Property [Member]
Montpelier Vermont Property [Line Items]
Average annual rent		$ 229,000
Average annual rent payable years		10 years
Leases term description		The term of the lease will commence on the earlier of: (a) 30 days after the date the project is substantially completed (as defined); or (b) the date that the tenant opens for business (the “Commencement Date”) and shall continue until the 10th anniversary of the Commencement Date. The lease provides the tenant the option to renew or extend the lease for two consecutive renewal terms of five years each.
Leases term extension description		two consecutive renewal terms of five years each.
Total construction costs			$ 726,000
Real estate construction costs to be recorded percentage			(28.00%)
Estimated cost of renovation and construction			$ 2,500,000
Total construction costs Paid			717,000
Accrual of construction costs incurred in period but not paid (Vermont)			$ 9,000
Leases Agreement [Member] | Land Improvements [Member] | Montpelier Vermont Property [Member]
Montpelier Vermont Property [Line Items]
Area of Land | a		3.5
Leases Agreement [Member] | Building Improvements [Member] | Montpelier Vermont Property [Member]
Montpelier Vermont Property [Line Items]
Area of Land | ft²		8,000

INVESTMENTS IN MARKETABLE SEC_3

INVESTMENTS IN MARKETABLE SECURITIES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Marketable Securities, Gain (Loss) [Abstract]
Net realized gain (loss) from sales of securities	$ 83,000	$ (9,000)	$ 30,000	$ (80,000)
Unrealized net gain (loss) of securities	6,000	128,000	250,000	(186,000)
Total net gain (loss) from investments in marketable securities	$ 88,663	$ 119,306	$ 280,505	$ (266,200)

INVESTMENTS IN MARKETABLE SEC_4

INVESTMENTS IN MARKETABLE SECURITIES (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020
Marketable Securities [Line Items]
Marketable Securities Gain	$ 89,000	$ 30,000	$ 110,000	$ 58,000
Marketable Securities Loss	6,000	21,000	140,000	138,000
Marketable Securities	2,814,927		2,814,927		$ 3,406,328
Net realized gain (loss) from sales of securities	83,000	$ (9,000)	30,000	$ (80,000)
Real Estate Investment Trusts [Member]
Marketable Securities [Line Items]
Marketable Securities	$ 1,000,000		$ 1,000,000		$ 1,700,000

OTHER INVESTMENTS (Details)

OTHER INVESTMENTS (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Schedule of Investments [Line Items]
Partnerships owning real estate and related investments	$ 311,000	$ 71,000	$ 361,000	$ 235,000
Partnerships owning diversified businesses	17,000	0	70,000	8,000
Technology and related investments	0	0	0	14,000
Income (loss) from investment in 49% owned affiliate (T.G.I.F. Texas, Inc.)	46,000	3,000	76,000	(17,000)
Total net income from other investments	$ 374,000	$ 68,000	$ 507,000	$ 240,000

OTHER INVESTMENTS (Details Text

OTHER INVESTMENTS (Details Textual) - USD ($)	3 Months Ended			9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Mar. 31, 2020	Sep. 30, 2021	Sep. 30, 2020	Dec. 31, 2020	Dec. 31, 2017	Sep. 30, 2015
Other Investment [Line Items]
Other Investments	$ 4,848,153			$ 4,848,153		$ 4,940,403
Company committed to fund approximately as required by agreements with the investees	1,000,000			1,000,000
Proceeds from Sale and Maturity of Other Investments				1,034,222	$ 597,668
Payments to Acquire Other Investments				503,601	227,268
Marketable Securities, Unrealized Gain (Loss), Total	6,000	$ 128,000		250,000	(186,000)
Marketable Securities	2,814,927			2,814,927		$ 3,406,328
Impairment of Other Investments	0	0		0	315,000
Asia [Member] | Real Estate [Member]
Other Investment [Line Items]
Proceeds from Sale and Maturity of Other Investments				129,000
Small Business Administration [Member]
Other Investment [Line Items]
Other Investments							$ 300,000
Impairment of Other Investments		90,000	$ 50,000		315,000
Income from Other Investments					68,000
Investments After Other Than Temporary Impairment Adjustments					92,000
Global Fund Investment Relating To Oil Exploration And Production [Member]
Other Investment [Line Items]
Other Investments	2,000,000,000			2,000,000,000
Company committed to fund approximately as required by agreements with the investees								$ 500,000
Impairment of Other Investments		$ 175,000
Income from Other Investments					$ 205,000
New Private Equity Fund [Member]
Other Investment [Line Items]
Company committed to fund approximately as required by agreements with the investees	500,000			500,000
Income from Other Investments				137,000
Freely Marketable [Member] | Investment In Insurance Company [Member]
Other Investment [Line Items]
Maketable securitites unrealised loss position	$ 504,000			$ 504,000
TGIF Texas Inc [Member]
Other Investment [Line Items]
Equity Method Investment, Ownership Percentage	49.00%			49.00%
Multifamily Residential Property [Member] | Orlando Florida [Member]
Other Investment [Line Items]
Gain losses on sales of investment real estate				$ 315,000
Mortgage Loans [Member]
Other Investment [Line Items]
Proceeds from Sale and Maturity of Other Investments				584,000
HMG Mortgage Loans [Member]
Other Investment [Line Items]
Proceeds from Sale and Maturity of Other Investments				78,000
Miscellaneous Investments [Member]
Other Investment [Line Items]
Proceeds from Sale and Maturity of Other Investments				243,000
Investments in Private Bank [Member] | Palm Beach (Florida) [Member]
Other Investment [Line Items]
Marketable Securities, Unrealized Gain (Loss), Total				128,000
Marketable Securities	$ 35,000			35,000
Existing investments [Member]
Other Investment [Line Items]
Income from Other Investments				67,000
Real Estate Partnership [Member]
Other Investment [Line Items]
Payments to Acquire Other Investments				200,000
New Co Investment [Member]
Other Investment [Line Items]
Payments to Acquire Other Investments				50,000
Start Up Technology Fund [Member]
Other Investment [Line Items]
Payments to Acquire Other Investments				$ 50,000

FAIR VALUE OF FINANCIAL INSTR_3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Details) - USD ($)	Sep. 30, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 6,589,000	$ 7,802,000
Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	5,996,000	7,189,000
Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	593,000	613,000
Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Money Market Mutual Funds [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	1,874,000	1,496,000
Money Market Mutual Funds [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	1,874,000	1,496,000
Money Market Mutual Funds [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Money Market Mutual Funds [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
US T-Bills [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	1,900,000	2,900,000
US T-Bills [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	1,900,000	2,900,000
US T-Bills [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure
US T-Bills [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure
Corporate Debt Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	593,000	613,000
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	593,000	613,000
Corporate Debt Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Marketable Equity Securities [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	2,222,000	2,793,000
Marketable Equity Securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	2,222,000	2,793,000
Marketable Equity Securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Marketable Equity Securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 0	$ 0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
Current:
Federal			$ 0	$ 0
State			(8,000)	2,000
Total			(8,000)	2,000
Deferred:
Federal			(40,000)	49,000
State			(7,000)	4,000
Total			(55,000)	55,000
Tax (provision) benefit before valuation allowance			(47,000)	53,000
Valuation allowance			(41,000)	(26,000)
Total	$ (63,921)	$ 76,196	$ (96,078)	$ 29,158

INCOME TAXES (Details Textual)

INCOME TAXES (Details Textual) - USD ($)	Dec. 11, 2020	Dec. 13, 2019	Sep. 30, 2021	Dec. 31, 2020
Income Tax Disclosure [Line Items]
Dividend payable declaration date	Dec. 11, 2020	Dec. 13, 2019
Common Stock, Dividends, Per Share, Cash Paid	$ 0.50	$ 0.50
Dividend payable date to be paid	Jan. 12, 2021	Jan. 13, 2020
Dividend payable date of record	Dec. 29, 2020	Dec. 30, 2019
Dividend return of capital component percentage	(100.00%)	(100.00%)
Deferred Income Tax Liabilities, Net			$ 195,623	$ 107,237
Cii [Member]
Income Tax Disclosure [Line Items]
Noncontrolling Interest, Ownership Percentage by Parent			95.00%

STOCK OPTIONS (Details 1)

STOCK OPTIONS (Details 1)	Sep. 30, 2021$ / sharesshares
Number of securities to be issued upon exercise of outstanding options	0
Weighted-average exercise price of outstanding options | $ / shares	$ 0
Number of securities remaining available for future issuance under equity compensation plans	42,752
Equity compensation plan approved by shareholders [Member]
Number of securities to be issued upon exercise of outstanding options	9,600
Weighted-average exercise price of outstanding options | $ / shares	$ 13.55
Number of securities remaining available for future issuance under equity compensation plans	42,752
Options exercised [Member]
Number of securities to be issued upon exercise of outstanding options	9,600
Weighted-average exercise price of outstanding options | $ / shares	$ 13.55
Number of securities remaining available for future issuance under equity compensation plans	0
Equity compensation plan not approved by shareholders [Member]
Number of securities to be issued upon exercise of outstanding options	0
Weighted-average exercise price of outstanding options | $ / shares	$ 0
Number of securities remaining available for future issuance under equity compensation plans	0

STOCK OPTIONS (Details Textual)

STOCK OPTIONS (Details Textual)	9 Months Ended
	Sep. 30, 2021shares
Number of share options exercised	9,600

RELATED PARTY EXPENSE (Details

RELATED PARTY EXPENSE (Details Textual)	9 Months Ended
	Sep. 30, 2021USD ($)
Related Party Transactions [Abstract]
Services received, related party transactions per month	$ 2,000