Direct Investment (FEPI) 10-K 31 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 28, 2017	Jun. 30, 2016
Document and Entity Information
Entity Registrant Name	FIRST EQUITY PROPERTIES INC
Entity Trading Symbol	fepi
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Amendment Flag	false
Entity Central Index Key	726,516
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		1,057,628
Entity Public Float			$ 264,807
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	FY

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Assets {1}
Receivables and accrued interest - related parties	$ 2,106,229	$ 2,106,229
Cash and cash equivalents	900	867
Total assets	2,107,129	2,107,096
Liabilities and Shareholders' Equity
Notes payable and accrued interest - related parties	836,953	836,953
Accounts payable - other	4,732	669
Accounts payable - related parties	375,728	381,958
Total liabilities	1,217,413	1,219,580
Shareholders' equity
Common stock, $0.01 par value; 40,000,000 shares authorized; 1,057,628 issued and outstanding	10,576	10,576
Preferred stock, $0.01 par value; 4,960,000 shares authorized; none issued or outstanding	0	0
Paid in capital	1,376,682	1,376,682
Retained earnings (deficit)	(497,542)	(499,742)
Total shareholders' equity	889,716	887,516
Total liabilities and shareholders' equity	$ 2,107,129	$ 2,107,096

BALANCE SHEETS PARENTHETICALS

BALANCE SHEETS PARENTHETICALS - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Parentheticals
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, shares authorized	40,000,000	40,000,000
Preferred Stock, shares issued	1,057,628	1,057,628
Preferred stock, shares outstanding	1,057,628	1,057,628
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	4,960,000	4,960,000
Common Stock, shares issued	0	0
Common Stock, shares Outstanding	0	0

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenue
Revenue from operations	$ 0	$ 0	$ 0
Total revenue.	0	0	0
Operating Expenses
Administrative fees - related parties	63,000	60,000	60,000
General and administrative	17,041	16,365	14,356
Legal and professional fees	41,905	36,777	38,263
Total operating expenses	121,946	113,142	112,619
Income (loss) before interest expense and taxes	(121,946)	(113,142)	(112,619)
Other income (expense)
Interest income - related parties	206,007	208,012	218,524
Interest expense - related parties	(81,861)	(83,300)	(109,491)
Net income (loss) applicable to common shareholders	$ 2,200	$ 11,570	$ (3,586)
Earnings (loss) per share	$ 0	$ 0.01	$ 0
Weighted average shares outstanding	1,057,628	1,057,628	1,057,628

STATEMENTS OF CHANGES IN SHAREH

STATEMENTS OF CHANGES IN SHAREHOLDERS' EQUITY - USD ($)	Common Stock Shares	Common Stock Amount	Paid-in-Capital	Retained Earnings	Total Equity
Balances at Jan. 01, 2014	1,057,628	10,576	1,376,682	(507,726)	879,532
Net income (loss)				$ (3,586)	$ (3,586)
Balances. at Dec. 31, 2014	1,057,628	10,576	1,376,682	(511,312)	875,946
Net income (loss)				$ 11,570	$ 11,570
Balances at Dec. 31, 2015	1,057,628	10,576	1,376,682	(499,742)	887,516
Net income (loss)				$ 2,200	$ 2,200
Balances at Dec. 31, 2016	1,057,628	10,576	1,376,682	(497,542)	889,716

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities
Net Income (Loss)	$ 2,200	$ 11,570	$ (3,586)
(Increase) decrease in
Interest receivable - related parties	0	1,870	187,102
Accounts payable - other	4,063	(2,508)	162
Accounts payable - affiliates	(6,230)	(35,597)	98,733
Intercompany and interest payable - related parties	0	(1,132)	(101,160)
Federal income taxes payable	0	0	0
Net cash provided by (used for) operating activities	33	(25,797)	181,251
Cash Flows from Investing Activities
Notes receivable - related parties	0	64,653	334,179
Net cash provided by (used for) investing activities	0	64,653	334,179
Cash Flows from Financing Activities
Notes payable - related parties	0	(39,765)	(514,000)
Net cash provided by (used for) financing activities	0	(39,765)	(514,000)
Net increase (decrease) in cash and cash equivalents	33	(909)	1,430
Cash and cash equivalents at the beginning of period	867	1,776
Cash and cash equivalents at the end of period	900	867	1,776
Supplemental disclosures of cash flow information:
Cash paid for interest expense to related parties	81,861	84,433	210,650
Cash received for interest on notes receivable	$ 206,007	$ 209,882	$ 405,625

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	NOTE A -SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Nature of Operations From 2010 through April 2012, the Company engaged in the business of investing in real estate and purchased land held for investment or sale. Our current source of revenue consists of interest on notes receivables from related party entities. Any adverse conditions that could affect the financial condition of these entities, and specifically their ability to service debt obligation owed, could have a material effect on the financial statements. Organization and Business First Equity Properties, Inc. is a Nevada based corporation organized in December 19, 1996 and the Company is headquartered in Dallas, TX. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable. FEPI is a publicly traded company however, no trading market presently exists for the shares of common stock and its value is therefore not determinable. Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term investments with original maturities of three months or less to be cash equivalents. Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates. Income Taxes The Company accounts for income taxes in accordance with Accounting Standards Codification, (“ASC”) No. 740, “Accounting for Income Taxes”. ASC 740 requires an asset and liability approach to financial accounting for income taxes. In the event differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities result in deferred tax assets, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance is provided for a portion or all of the deferred tax assets when there is an uncertainty regarding the Company’s ability to recognize the benefits of the assets in future years. Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years. Since management could not determine the likelihood that the benefit of the deferred tax asset would be realized no deferred tax asset was recognized by the Company. Earnings (loss) per Share Earnings (loss) per share (EPS) are calculated in accordance with Accounting Standards Codification, (“ASC”) No. 260, Earnings per Share (ASC 260), which was adopted in 1997 for all years presented. Basic EPS is computed by dividing income available to common shareholders by the weighted average number of common shares outstanding during the period. Diluted EPS does not apply to the Company due to the absence of dilutive potential common shares. The adoption of ASC 260 had no effect on previously reported EPS. FASB Accounting Standards Codification The company presents its financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). In June 2009, the Financial Accounting Standards Board (“FASB”) completed its accounting guidance codification project. The FASB Accounting Standards Codification (“ASC”) became effective for the Company’s financial statements issued subsequent to June 30, 2009 and is the single source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. As of the effective date, the company will no longer refer to the authoritative guidance dictating its accounting methodologies under the previous accounting standards hierarchy. Instead, the Company will refer to the ASC Codification as the sole source of authoritative literature.

NOTES RECEIVABLE AND ACCRUED IN

NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES	12 Months Ended
	Dec. 31, 2016
NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES
NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES	NOTE B -NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES Receivables from related parties primarily consist of two notes of $1,565,292 and $489,154 which are payable in quarterly installments of interest only. The notes accrue interest at 10% per annum. The maturity date of these notes has been extended to December 31, 2017. 2016 2015 Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly $ 2,054,446 $ 2,054,446 Accrued interest – related parties 51,783 51,783 Accounts receivable – related parties - - Total notes and accounts receivable – related parties $ 2,106,229 $ 2,106,229 A subsequent payment for interest on notes receivable was received in March 2017 for $51,783 which makes the notes and interest receivable balances current.

NOTES PAYABLE AND ACCRUED INTER

NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES	12 Months Ended
	Dec. 31, 2016
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES	NOTE C -NOTES PAYABLE AND ACCRUED INTEREST – RELATED PARTIES 2016 2015 Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly $ 816,376 $ 816,376 Accrued interest and intercompany – related parties 20,577 20,577 Total notes payable – related parties $ 836,953 $ 836,953 Payments due by period Total 2017 2018 2019 2020 2021 Thereafter Long term debt $ 836,953 $ 836,953 $ — $ — $ — $ — $ — $ 836,953 $ 836,953 $ — $ — $ — $ — $ — Subsequent payments for interest due on notes payable were made in March 2017 for $20,577 which makes the notes and interest payable balances current.

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2016
INCOME TAXES
INCOME TAXES	NOTE D -INCOME TAXES Deferred income taxes reflect the tax effects of temporary timing differences between carrying amounts of assets and liabilities reflected on the financial statements and the amounts used for income tax purposes. The tax effects of temporary differences and net operating loss carry forwards that give rise to the deferred tax assets. The Company had ($4,898) in NOL carry forward from 2012 that it utilized in 2013, 2015 and 2016. Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years. The following table presents the principal reasons for the differences between the Company’s effective tax rate and the United States statutory income tax rate. 2016 2015 2014 Federal income tax at statutory rate per books $ 330 $ 1,736 $ (538 ) Change in valuation allowance — — 538 Net operating loss (330 ) (1,736 ) — Federal income tax per tax return $ — $ — $ — Effective income tax rate 0.0 % 0.0 % 0.0 % The Company’s Forms 1120, U.S. Corporation Income Tax Returns

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	12 Months Ended
	Dec. 31, 2016
FINANCIAL INSTRUMENTS
FINANCIAL INSTRUMENTS	NOTE E -FINANCIAL INSTRUMENTS The carrying values of cash and cash equivalents, accounts receivable related parties, notes receivable related parties and accounts payable related parties approximate fair value due to short-term maturities of these assets and liabilities.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
COMMITMENTS AND CONTINGENCIES:
COMMITMENTS AND CONTINGENCIES	NOTE F -COMMITMENTS AND CONTINGENCIES The Company is not involved in any legal proceedings. Management is not aware of any actions that could potentially have a material adverse effect on the Company’s financial position.

COMPREHENSIVE INCOME

COMPREHENSIVE INCOME	12 Months Ended
	Dec. 31, 2016
COMPREHENSIVE INCOME
COMPREHENSIVE INCOME	NOTE G -COMPREHENSIVE INCOME Accounting Standards Codification, (“ASC”) No. 220, Reporting Comprehensive Income, (ASC 220), requires that total comprehensive income be reported in the financial statements. For the years ended December 31, 2016, 2015, and 2014, the Company’s comprehensive income was equal to its net income and the Company does not have income meeting the definition of other comprehensive income.

QUARTERLY DATA (UNAUDITED)

QUARTERLY DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2016
QUARTERLY DATA (UNAUDITED)
QUARTERLY DATA (UNAUDITED)	NOTE H -QUARTERLY DATA (UNAUDITED) The table below reflects the Company’s selected quarterly information for the years ended December 31, 2016 and 2015. Year ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ - $ - $ - $ - Operating expenses 48,547 22,418 23,700 27,281 Net income from continuing operations before taxes (48,547) (22,418) (23,700) (27,281) Interest income 51,220 51,221 51,783 51,783 Interest expense 20,353 20,354 20,577 20,577 Income tax expense - - - - Net income applicable to common shareholders $ (17,680) $ 8,449 $ 7,506 $ 3,925 Earnings per share Weighted average earnings per share applicable to common shares $ (0.02) $ 0.01 $ 0.01 $ - Year ended December 31, 2015 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ - $ - $ - $ - Operating expenses 35,498 31,401 22,486 23,757 Net income from continuing operations before taxes (35,498) (31,401) (22,486) (23,757) Interest income 52,090 52,356 51,783 51,783 Interest expense 21,792 20,353 20,577 20,578 Income tax expense - - - - Net income applicable to common shareholders $ (5,200) $ 602 $ 8,720 $ 7,448 Earnings per share Weighted average earnings per share applicable to common shares $ (0.01) $ - $ 0.01 $ 0.01

RELATED PARTIES TRANSACTIONS

RELATED PARTIES TRANSACTIONS	12 Months Ended
	Dec. 31, 2016
RELATED PARTIES TRANSACTIONS
RELATED PARTIES TRANSACTIONS	NOTE I -RELATED PARTIES TRANSACTIONS The Company has historically engaged in and may continue to engage in certain business transactions with related parties, including but not limited to asset acquisition, dispositions, interest income, interest expense and general and administrative expenses. Transactions involving related parties cannot be presumed to be carried out on an arm’s length basis due to the absence of free market forces that naturally exist in business dealings between two or more unrelated entities. Related party transactions may not always be favorable to our business and may include terms, conditions and agreements that are not necessarily beneficial to or in best interest of our company.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2016
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE J –SUBSEQUENT EVENTS The Company has evaluated subsequent events through March 28, 2017, the date the financial statements were available to be issued, and has determined that there were subsequent payments made in March 2017 for interest on notes payable and received for interest on notes receivable.

ACCOUNTING POLICIES (POLICIES)

ACCOUNTING POLICIES (POLICIES)	12 Months Ended
	Dec. 31, 2016
Accounting Policies
Nature of Operations	Nature of Operations From 2010 through April 2012, the Company engaged in the business of investing in real estate and purchased land held for investment or sale. Our current source of revenue consists of interest on notes receivables from related party entities. Any adverse conditions that could affect the financial condition of these entities, and specifically their ability to service debt obligation owed, could have a material effect on the financial statements.
Organization and Business	Organization and Business First Equity Properties, Inc. is a Nevada based corporation organized in December 19, 1996 and the Company is headquartered in Dallas, TX. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable. FEPI is a publicly traded company however, no trading market presently exists for the shares of common stock and its value is therefore not determinable.
Cash Equivalents, Policy	Cash Equivalents For purposes of the statement of cash flows, the Company considers all short-term investments with original maturities of three months or less to be cash equivalents.
Accounting Estimates	Accounting Estimates The preparation of financial statements in conformity with generally accepted accounting principles requires management to make certain estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Income Taxes	Income Taxes The Company accounts for income taxes in accordance with Accounting Standards Codification, (“ASC”) No. 740, “Accounting for Income Taxes”. ASC 740 requires an asset and liability approach to financial accounting for income taxes. In the event differences between the financial reporting basis and the tax basis of the Company’s assets and liabilities result in deferred tax assets, ASC 740 requires an evaluation of the probability of being able to realize the future benefits indicated by such assets. A valuation allowance is provided for a portion or all of the deferred tax assets when there is an uncertainty regarding the Company’s ability to recognize the benefits of the assets in future years. Recognition of the benefits of deferred tax assets will require the Company to generate future taxable income. There is no assurance that the Company will generate earnings in future years. Since management could not determine the likelihood that the benefit of the deferred tax asset would be realized no deferred tax asset was recognized by the Company.
Earnings (loss) per Share	Earnings (loss) per Share
FASB Accounting Standards Codification	FASB Accounting Standards Codification The company presents its financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). In June 2009, the Financial Accounting Standards Board (“FASB”) completed its accounting guidance codification project. The FASB Accounting Standards Codification (“ASC”) became effective for the Company’s financial statements issued subsequent to June 30, 2009 and is the single source of authoritative accounting principles recognized by the FASB to be applied by nongovernmental entities in the preparation of financial statements in conformity with GAAP. As of the effective date, the company will no longer refer to the authoritative guidance dictating its accounting methodologies under the previous accounting standards hierarchy. Instead, the Company will refer to the ASC Codification as the sole source of authoritative literature.

NOTES RECIEVABLE AND ACCRUED IN

NOTES RECIEVABLE AND ACCRUED INTEREST - RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2016
NOTES RECIEVABLE AND ACCRUED INTEREST - RELATED PARTIES
NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES	The maturity date of these notes has been extended to December 31, 2017. 2016 2015 Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly $ 2,054,446 $ 2,054,446 Accrued interest – related parties 51,783 51,783 Accounts receivable – related parties - - Total notes and accounts receivable – related parties $ 2,106,229 $ 2,106,229

NOTES PAYABLE AND ACCRUED INT19

NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2016
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES {2}
NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES	2016 2015 Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly $ 816,376 $ 816,376 Accrued interest and intercompany – related parties 20,577 20,577 Total notes payable – related parties $ 836,953 $ 836,953 Payments due by period Total 2017 2018 2019 2020 2021 Thereafter Long term debt $ 836,953 $ 836,953 $ — $ — $ — $ — $ — $ 836,953 $ 836,953 $ — $ — $ — $ — $ —

SCHEDULE OF INCOME TAX EXPENSE

SCHEDULE OF INCOME TAX EXPENSE BENEFIT (Tables)	12 Months Ended
	Dec. 31, 2016
SCHEDULE OF INCOME TAX EXPENSE BENEFIT (Tables):
Schedule of Principal reasons for the differences between the Company's effective tax rate and the United States statutory income tax rate.	The following table presents the principal reasons for the differences between the Company’s effective tax rate and the United States statutory income tax rate. 2016 2015 2014 Federal income tax at statutory rate per books $ 330 $ 1,736 $ (538 ) Change in valuation allowance — — 538 Net operating loss (330 ) (1,736 ) — Federal income tax per tax return $ — $ — $ — Effective income tax rate 0.0 % 0.0 % 0.0 %

SCHEDULE OF QUARTERLY DATA (Tab

SCHEDULE OF QUARTERLY DATA (Tables)	12 Months Ended
	Dec. 31, 2016
SCHEDULE OF QUARTERLY DATA:
SCHEDULE OF QUARTERLY DATA	The table below reflects the Company’s selected quarterly information for the years ended December 31, 2016 and 2015. Year ended December 31, 2016 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ - $ - $ - $ - Operating expenses 48,547 22,418 23,700 27,281 Net income from continuing operations before taxes (48,547) (22,418) (23,700) (27,281) Interest income 51,220 51,221 51,783 51,783 Interest expense 20,353 20,354 20,577 20,577 Income tax expense - - - - Net income applicable to common shareholders $ (17,680) $ 8,449 $ 7,506 $ 3,925 Earnings per share Weighted average earnings per share applicable to common shares $ (0.02) $ 0.01 $ 0.01 $ - Year ended December 31, 2015 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ - $ - $ - $ - Operating expenses 35,498 31,401 22,486 23,757 Net income from continuing operations before taxes (35,498) (31,401) (22,486) (23,757) Interest income 52,090 52,356 51,783 51,783 Interest expense 21,792 20,353 20,577 20,578 Income tax expense - - - - Net income applicable to common shareholders $ (5,200) $ 602 $ 8,720 $ 7,448 Earnings per share Weighted average earnings per share applicable to common shares $ (0.01) $ - $ 0.01 $ 0.01

NOTES RECEIVABLE AND ACCRUED 22

NOTES RECEIVABLE AND ACCRUED INTEREST - RELATED PARTIES (DETAILS) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Notes receivable - related parties
Unsecured, due on demand, interest rate of 10%, due monthly	$ 2,054,446	$ 2,054,446
Accrued interest - related parties	51,783	51,783
Accounts receivable - related parties	0
Total notes and accounts receivable - related parties	$ 2,106,229	$ 2,106,229

RECEIVABLES RELATED PARTIES (DE

RECEIVABLES RELATED PARTIES (DETAILS) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Receivables related parties Details
Receivable related parties primary note 1 mature on 12/31/2017		$ 1,565,292
Receivable related parties primary note 2 12/31/2017		$ 489,154
Notes accrued interest per annum at		10.00%
Payment received	$ 51,783

NOTES PAYABLE AND ACCRUED INT24

NOTES PAYABLE AND ACCRUED INTEREST - RELATED PARTIES (DETAILS) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
NOTES PAYABLE RELATED PARTIES DETAILS
Uncollateralized notes payable - related parties due on demand, interest rate of 10%, payable quarterly	$ 816,376	$ 816,376
Accrued interest and intercompany - related parties	20,577	20,577
Total notes payable - related parties	$ 836,953	$ 836,953

LONG TERM DEBT PAYMENTS DUE BY

LONG TERM DEBT PAYMENTS DUE BY PERIOD (DETAILS) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
LONG TERM DEBT PAYMENTS DUE BY PERIOD DETAILS
Long term debt Payments due in 2017	$ 836,953	$ 836,953
Long term debt Payments due in 2018	0
Long term debt Payments due in 2019		0
Long term debt Payments due in 2020	0
Long term debt Payments due in 2021		0
Long term debt Payments due Thereafter	0
Long term debt Payments due Total	$ 836,953	$ 836,953

INCOME TAXES AT STATUTORY RATE

INCOME TAXES AT STATUTORY RATE (DETAILS) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
INCOME TAXES AT STATUTORY RATE DETAILS
Federal income tax at statutory rate per books	$ 330	$ 1,736	$ (538)
Change in valuation allowance			$ 538
Net operating loss	(330)	$ (1,736)
Federal income tax per tax return	$ 0
Effective income tax rate	0.00%	0.00%	0.00%

INCOME TAXES LOSSES (DETAILS)

INCOME TAXES LOSSES (DETAILS)	Dec. 31, 2016USD ($)
INCOME TAXES LOSSES DETAILS
NOL carry forward from 2012	$ (4,898)

COMPANY'S SELECTED QUARTERLY (U

COMPANY'S SELECTED QUARTERLY (UNAUDITED) INFORMATION FOR THE YEAR 2016 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
COMPANY'S SELECTED QUARTERLY (UNAUDITED) INFORMATION FOR THE YEAR 2016
Revenue				$ 0
Operating expenses	$ 27,281	$ 23,700	$ 22,418	48,547
Net income from continuing operations before taxes	(27,281)	(23,700)	(22,418)	(48,547)
Interest income	51,783	51,783	51,221	51,220
Interest expense	20,577	20,577	20,354	20,353
Income tax expense				0
Net income applicable to common shareholders	$ 3,925	$ 7,506	$ 8,449	$ (17,680)
Weighted average earnings per share applicable to common shares		$ 0.01	$ 0.01	$ (0.02)

COMPANY'S SELECTED QUARTERLY 29

COMPANY'S SELECTED QUARTERLY (UNAUDITED) INFORMATION FOR THE YEAR 2015 (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
COMPANY'S SELECTED QUARTERLY (UNAUDITED) INFORMATION FOR THE YEAR 2015
Revenue	$ 0
Operating expenses	23,757	$ 22,486	$ 31,401	$ 35,498
Net income from continuing operations before taxes	(23,757)	(22,486)	(31,401)	(35,498)
Interest income	51,783	51,783	52,356	52,090
Interest expense	20,578	20,577	20,353	21,792
Income tax expense				0
Net income applicable to common shareholders	$ 7,448	$ 8,720	$ 602	$ (5,200)
Weighted average earnings per share applicable to common shares	$ 0.01	$ 0.01		$ (0.01)