Direct Investment (FEPI) 10-K 20 Mar 20 2019 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - shares	12 Months Ended
	Dec. 31, 2019	Mar. 30, 2020
Document And Entity Information
Entity Registrant Name	FIRST EQUITY PROPERTIES INC
Entity Central Index Key	0000726516
Document Type	10-K
Document Period End Date	Dec. 31, 2019
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Is Entity a Well-known Seasoned Issuer?	No
Is Entity a Voluntary Filer?	No
Is Entity's Reporting Status Current?	Yes
Is Entity Emerging Growth Company?	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Common Stock, Shares Outstanding		1,057,628
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2019
Entity Shell Company	false

Balance Sheets (Unaudited)

Balance Sheets (Unaudited) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Assets
Notes receivable and accrued interest - related parties	$ 1,553,267	$ 1,592,418
Accounts receivable - related parties	168,495
Cash and cash equivalents	41,526	201,057
Total assets	1,763,288	1,793,475
Liabilities and Shareholders' Equity
Notes payable and accrued interest - related parties	584,360	584,360
Accounts payable - other	774
Accounts payable - related parties	367,115	367,565
Total liabilities	952,249	951,925
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
Paid in capital	1,376,682	1,376,682
Retained earnings (deficit)	(576,219)	(545,708)
Total shareholders' equity	811,039	841,550
Total liabilities and shareholders' equity	$ 1,763,288	$ 1,793,475

Balance Sheets (Parenthetical)

Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred Stock, par value	$ 0.01	$ 0.01
Preferred Stock, shares authorized	4,960,000	4,960,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common Stock, par value	$ 0.01	$ 0.01
Common Stock, shares authorized	40,000,000	40,000,000
Common Stock, shares issued	1,057,628	1,057,628
Common Stock, shares outstanding	1,057,628	1,057,628

Statements of Operations

Statements of Operations - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue
Revenue from operations
Total revenue
Operating Expenses
Administrative fees - related parties	72,000	72,000	72,000
General and administrative	16,289	19,446	16,601
Legal and professional fees	39,113	45,661	38,814
Total operating expenses	127,402	137,107	127,415
Income (loss) before interest expense and taxes	(127,402)	(137,107)	(127,415)
Other income (expense)
Interest income - related parties	155,327	159,661	205,445
Interest expense - related parties	(58,436)	(67,112)	(81,638)
Net income (loss) applicable to common shareholders	$ (30,511)	$ (44,558)	$ (3,608)
Earnings (loss) per share	$ (0.03)	$ (0.04)
Weighted average shares outstanding	1,057,628	1,057,628	1,057,628

Shareholders Equity

Shareholders Equity - USD ($)	Common Stock	Additional Paid-In Capital	Retained Earnings / Accumulated Deficit	Total
Beginning balance, shares at Dec. 31, 2016	1,057,628
Beginning balance, value at Dec. 31, 2016	$ 10,576	$ 1,376,682	$ (497,542)	$ 889,716
Net income (loss)			(3,608)	(3,608)
Ending balance, shares at Dec. 31, 2017	1,057,628
Ending balance, value at Dec. 31, 2017	$ 10,576	1,376,682	(501,150)	886,108
Net income (loss)			(44,558)	(44,558)
Ending balance, shares at Dec. 31, 2018	1,057,628
Ending balance, value at Dec. 31, 2018	$ 10,576	1,376,682	(545,708)	841,550
Net income (loss)			(30,511)	(30,511)
Ending balance, shares at Dec. 31, 2019	1,057,628
Ending balance, value at Dec. 31, 2019	$ 10,576	$ 1,376,682	$ (576,219)	$ 811,039

Statements of Cash Flows

Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities
Net Income (Loss)	$ (30,511)	$ (44,558)	$ (3,608)
(Increase) decrease in
Interest receivable - related parties	39,151	12,632
Accounts receivable - related parties	(168,495)
Accounts payable - other	774	(669)	(4,063)
Accounts payable - related parties	(450)	(15,848)	7,685
Interest payable - related parties		(20,577)
Net cash provided by (used for) operating activities	(159,531)	(69,020)	14
Notes receivable - related parties		501,179
Net cash provided by (used for) investing activities		501,179
Cash Flows from Financing Activities
Notes payable - related parties		(232,016)
Net cash provided by (used for) financing activities		(232,016)
Net increase (decrease) in cash and cash equivalents	(159,531)	200,143	14
Cash and cash equivalents at the beginning of period	201,057	914	900
Cash and cash equivalents at the end of period	41,526	201,057	914
Supplemental disclosures of cash flow information:
Cash paid for interest expense to related parties	$ 58,436	$ 72,960	$ 81,638

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
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. Recent Accounting Pronouncements The company values its financial instruments as required by ASC 820, “Fair Value Measurements and Disclosures”. These provisions define fair value as the price that would be received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date. For notes receivable, impairment is considered to exist if it is probable that all amounts due under the terms of the note will not be collected. The note receivable review includes an evaluation of the collateral property securing such note. If impairment is found to exist, a provision for loss is recorded by a charge against earnings. We did not record any impairment charges for the years ended December 31, 2019 and 2018.

NOTES RECEIVABLE AND ACCRUED IN

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
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 $1,164,113 and $389,154 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, 2021. 2019 2018 Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly $ 1,553,267 $ 1,553,267 Accrued interest – related parties 0 39,151 Total notes and accounts receivable – related parties $ 1,553,267 $ 1,592,418

NOTES PAYABLE AND ACCRUED INTER

NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES	NOTE C. NOTES PAYABLE AND ACCRUED INTEREST – RELATED PARTIES 2019 2018 Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly $ 584,360 $ 584,360 Accrued interest and intercompany – related parties 0 0 Total notes payable – related parties $ 584,360 $ 584,360 Payments made by period Total 2020 2021 2022 2023 2024 Thereafter Long term debt $ 584,360 $ 584,360 $ — $ — $ — $ — $ — $ 584,360 $ 584,360 $ — $ — $ — $ — $ —

INCOME TAXES

INCOME TAXES	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
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 $50,864 in NOL carry forward from 2014, 2017, and 2018. NOL Carryover 2014, expiring 2034 $ 2,698 2017, expiring 2037 3,608 2018, no expiration 44,558 Total carryover to 2019 $ 50,864 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. 2019 2018 2017 Federal income tax at statutory rate per books $ (6,407 ) $ (9,357 ) $ (541 ) Change in valuation allowance 6,407 9,357 541 Net operating loss — — — 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, 2019
Investments, All Other Investments [Abstract]
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, 2019
Commitments and Contingencies Disclosure [Abstract]
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, 2019
Shareholders' equity
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, 2019, 2018, and 2017, the Company’s comprehensive income was equal to its net income and the Company does not have income meeting the defi nition of other comprehensive income.

QUARTERLY DATA (UNADITED)

QUARTERLY DATA (UNADITED)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
QUARTERLY DATA (UNADITED)	NOTE H. QUARTERLY DATA (UNAUDITED) The table below reflects the Company’s selected quarterly information for the years ended December 31, 2019 and 2018. Year ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 51,597 26,876 25,106 23,823 Net income from continuing operations before taxes (51,597 ) (26,876 ) (25,106 ) (23,823 ) Interest income 38,300 38,725 39,151 39,151 Interest expense 14,410 14,569 14,729 14,728 Income tax expense — — — — Net income applicable to common shareholders $ (27,707 ) $ (2,720 ) $ (684 ) $ 600 Earnings per share Weighted average earnings per share applicable to common shares $ (0.03 ) $ — $ — $ — Year ended December 31, 2018 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 50,426 26,575 30,500 29,606 Net income from continuing operations before taxes (50,426 ) (26,575 ) (30,500 ) (29,606 ) Interest income 42,575 38,755 39,181 39,150 Interest expense 20,130 16,894 15,359 14,729 Income tax expense — — — — Net income applicable to common shareholders $ (27,981 ) $ (4,714 ) $ (6,678 ) $ (5,185 ) Earnings per share Weighted average earnings per share applicable to common shares $ (0.03 ) $ — $ (0.01 ) $ —

RELATED PARTIES TRANSACTIONS

RELATED PARTIES TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
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. The Company has an administrative agreement with Pillar Income Asset Management, Inc., an affiliated entity, for accounting and administrative services. The total expense of the twelve months ended December 31, 2019 was $72,000 which is included in General and Administrative expenses of the Statements of Operations. The Company is owed $168,495 from Pillar Asset Management and owes another related entity $367,115 as of December 31, 2019.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE J. SUBSEQUENT EVENTS The Company has evaluated subsequent events through March 30, 2020, the date the financial statements were available to be issued, and has determined that there were no subsequent events to be reported.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
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	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 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	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.
Recent Accounting Pronouncements	Recent Accounting Pronouncements The company values its financial instruments as required by ASC 820, “Fair Value Measurements and Disclosures”. These provisions define fair value as the price that would be received to sell an asset or paid to transfer a liability in a transaction between market participants at the measurement date. For notes receivable, impairment is considered to exist if it is probable that all amounts due under the terms of the note will not be collected. The note receivable review includes an evaluation of the collateral property securing such note. If impairment is found to exist, a provision for loss is recorded by a charge against earnings. We did not record any impairment charges for the years ended December 31, 2019 and 2018.

NOTES RECEIVABLE AND ACCRUED _2

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2019
Receivables [Abstract]
NOTES RECEIVABLE AND ACCRUED INTEREST-RELATED PARTIES	2019 2018 Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly $ 1,553,267 $ 1,553,267 Accrued interest – related parties 0 39,151 Total notes and accounts receivable – related parties $ 1,553,267 $ 1,592,418

NOTES PAYABLE AND ACCRUED INT_2

NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES (Tables)	12 Months Ended
	Dec. 31, 2019
Debt Disclosure [Abstract]
NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES	2019 2018 Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly $ 584,360 $ 584,360 Accrued interest and intercompany – related parties 0 0 Total notes payable – related parties $ 584,360 $ 584,360 Payments made by period Total 2020 2021 2022 2023 2024 Thereafter Long term debt $ 584,360 $ 584,360 $ — $ — $ — $ — $ — $ 584,360 $ 584,360 $ — $ — $ — $ — $ —

INCOME TAXES (Tables)

INCOME TAXES (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
Schedule of differences between company's effective tax rate and U.S statutory income rate	2019 2018 2017 Federal income tax at statutory rate per books $ (6,407 ) $ (9,357 ) $ (541 ) Change in valuation allowance 6,407 9,357 541 Net operating loss — — — Federal income tax per tax return $ — $ — $ — Effective income tax rate 0.0 % 0.0 % 0.0 %

D. INCOME TAXES - NOL CARRYOVER

D. INCOME TAXES - NOL CARRYOVER (Tables)	12 Months Ended
	Dec. 31, 2019
Income Tax Disclosure [Abstract]
NOL Carryover	NOL Carryover 2014, expiring 2034 $ 2,698 2017, expiring 2037 3,608 2018, no expiration 44,558 Total carryover to 2019 $ 50,864

QUARTERLY DATA (Tables)

QUARTERLY DATA (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
SCHEDULE OF QUARTERLY DATA	Year ended December 31, 2019 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 51,597 26,876 25,106 23,823 Net income from continuing operations before taxes (51,597 ) (26,876 ) (25,106 ) (23,823 ) Interest income 38,300 38,725 39,151 39,151 Interest expense 14,410 14,569 14,729 14,728 Income tax expense — — — — Net income applicable to common shareholders $ (27,707 ) $ (2,720 ) $ (684 ) $ 600 Earnings per share Weighted average earnings per share applicable to common shares $ (0.03 ) $ — $ — $ — Year ended December 31, 2018 First Second Third Fourth Quarter Quarter Quarter Quarter Revenue $ — $ — $ — $ — Operating expenses 50,426 26,575 30,500 29,606 Net income from continuing operations before taxes (50,426 ) (26,575 ) (30,500 ) (29,606 ) Interest income 42,575 38,755 39,181 39,150 Interest expense 20,130 16,894 15,359 14,729 Income tax expense — — — — Net income applicable to common shareholders $ (27,981 ) $ (4,714 ) $ (6,678 ) $ (5,185 ) Earnings per share Weighted average earnings per share applicable to common shares $ (0.03 ) $ — $ (0.01 ) $ —

NOTES RECEIVABLE AND ACCRUED _3

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES - NOTES RECEIVABLE AND ACCRUED INTEREST-RELATED PARTIES (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Receivables [Abstract]
Notes receivable – related parties Unsecured, due on demand, interest rate of 10%, due monthly	$ 1,553,267	$ 1,553,267
Accrued interest – related parties	0	39,151
Total notes and accounts receivable – related parties	$ 1,553,267	$ 1,592,418

NOTES RECEIVABLE AND ACCRUED _4

NOTES RECEIVABLE AND ACCRUED INTEREST – RELATED PARTIES (Details Narrative)	Dec. 31, 2019USD ($)
Receivables [Abstract]
Receivable related parties primary note 1 mature on 12/31/2019	$ 1,164,113
Receivable related parties primary note 2 12/31/2019	$ 389,154
Notes accrued interest per annum	10.00%

NOTES PAYABLE AND ACCRUED INT_3

NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES - NOTES PAYABLE AND ACCRUED INTEREST-RELATED PARTIES (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Uncollateralized notes payable – related parties due on demand, interest rate of 10%, payable quarterly	$ 584,360	$ 584,360
Accrued interest and intercompany – related parties	0	0
Total notes payable – related parties	$ 584,360	$ 584,360

LONG TERM DEBT PAYMENTS DUE BY

LONG TERM DEBT PAYMENTS DUE BY PERIOD (Details)	Dec. 31, 2019USD ($)
LONG TERM DEBT PAYMENTS DUE BY PERIOD DETAILS
Long term debt Payments due in year one	$ 584,360
Long term debt Payments due in year two	0
Long term debt Payments due in year three	0
Long term debt Payments due in year four	0
Long term debt Payments due in year five	0
Long term debt Payments due Thereafter	0
Long term debt Payments due Total	$ 584,360

INCOME TAXES - Schedule of diff

INCOME TAXES - Schedule of differences between company's effective tax rate and U.S statutory income rate (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Federal income tax at statutory rate per books	$ (6,407)	$ (9,357)	$ (541)
Change in valuation allowance	6,407	9,357	541
Net operating loss
Federal income tax per tax return
Effective income tax rate	0.00%	0.00%	0.00%

D. INCOME TAXES - NOL CARRYOV_2

D. INCOME TAXES - NOL CARRYOVER (Details)	Dec. 31, 2019USD ($)
2014, expiring 2034 [Member]
NOL Carryover	$ 2,698
2017, expiring 2037 [Member]
NOL Carryover	3,608
2018, no expiration [Member]
NOL Carryover	44,558
Total carryover to 2019 [Member]
NOL Carryover	$ 506,864

QUARTERLY DATA - SCHEDULE OF QU

QUARTERLY DATA - SCHEDULE OF QUARTERLY DATA (Details) - USD ($)	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenue
Operating expenses	23,823	25,106	26,876	51,597	29,606	30,500	26,575	50,426	$ 127,402	$ 137,107	$ 127,415
Net income from continuing operations before taxes	(23,823)	(25,106)	(26,876)	(51,597)	(29,606)	(30,500)	(26,575)	(50,426)
Interest income	39,151	39,151	38,725	38,300	39,150	39,181	38,755	42,575
Interest expense	14,728	14,729	14,569	14,410	14,729	15,359	16,894	20,130
Income tax expense
Net income applicable to common shareholders	$ 600	$ (684)	$ (2,720)	$ (27,707)	$ (5,185)	$ (6,678)	$ (4,714)	$ (27,981)
Earnings per share - Weighted average earnings per share applicable to common shares				$ (0.03)		$ (0.01)		$ (0.03)

I. RELATED PARTIES TRANSACTIONS

I. RELATED PARTIES TRANSACTIONS (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Total expense	$ 72,000	$ 72,000	$ 72,000
Receivable related party	168,495
Pillar Asset Management [Member]
Receivable related party	168,495
Other [Member]
Payable related party	$ 367,115