Direct Investment (FEPI) 10-Q 19 May 23 2023 Q1 Quarterly report Financial data

Cover

Cover	3 Months Ended
	Mar. 31, 2023 shares
Cover [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Quarterly Report	true
Document Transition Report	false
Document Period End Date	Mar. 31, 2023
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2023
Current Fiscal Year End Date	--12-31
Entity File Number	000-11777
Entity Registrant Name	Direct Investment Holdings Group, Inc.
Entity Central Index Key	0000726516
Entity Tax Identification Number	95-6799846
Entity Incorporation, State or Country Code	NV
Entity Address, Address Line One	150 S. Pine Island Rd
Entity Address, Address Line Two	Suite 300
Entity Address, City or Town	Plantation
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33324
City Area Code	(855)
Local Phone Number	456-9782
Title of 12(b) Security	Common Stock
Trading Symbol	FEPI
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	1,057,628

BALANCE SHEET (Unaudited)

BALANCE SHEET (Unaudited) - USD ($)	Mar. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 336,845	$ 337,696
Account receivable	2,762
Mortgage receivable - current portion	5,081	5,028
Total current assets	344,688	342,724
Long term assets
Mortgage receivable	281,934	283,040
Total assets	626,622	625,764
Liabilities and Shareholders' Equity
Accounts payable - related party	4,867
Total liabilities	4,867	0
Shareholders' equity
Common stock, $0.01 par value; 40,000,000 shares authorized; 9,767,821 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)	(765,503)	(761,494)
Total shareholders' equity	621,755	625,764
Total liabilities and shareholders' equity	$ 626,622	$ 625,764

BALANCE SHEET (Unaudited) (Pare

BALANCE SHEET (Unaudited) (Parenthetical) - $ / shares	Mar. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	40,000,000	40,000,000
Common stock, shares issued	9,767,821	9,767,821
Common stock, shares outstanding	9,767,821	9,767,821
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

STATEMENTS OF OPERATIONS (Unaud

STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Operating Expenses
General and administrative	$ 7,099	$ 1,322
Legal and professional fees	0	30,000
Total operating expenses	7,099	31,322
Income (loss) before interest expense and taxes	(7,099)	(31,322)
Other income (expense)
Interest income from Activities	3,090
Interest income - related parties		1,728
Net income (loss) applicable to common shareholders	$ (4,009)	$ (29,594)
Earnings (loss) per share	$ 0	$ (0.03)
Weighted average shares outstanding	1,057,628	1,057,628

STATEMENT OF CHANGES IN SHAREHO

STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (Unaudited) - USD ($)	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Total
Beginning balance, value at Dec. 31, 2021	$ 10,576	$ 1,376,682	$ (657,187)	$ 730,071
Beginning balance, shares at Dec. 31, 2021	1,057,628
Net income (loss)			(29,594)	(29,594)
Ending balance, value at Mar. 31, 2022	$ 10,576	1,376,682	(686,781)	700,477
Ending balance, shares at Mar. 31, 2022	1,057,628
Beginning balance, value at Dec. 31, 2022	$ 10,576	1,376,682	(761,494)	625,764
Beginning balance, shares at Dec. 31, 2022	1,057,628
Net income (loss)			(4,009)	(4,009)
Ending balance, value at Mar. 31, 2023	$ 10,576	$ 1,376,682	$ (765,503)	$ 621,755
Ending balance, shares at Mar. 31, 2023	1,057,628

STATEMENT OF CASH FLOWS (Unaudi

STATEMENT OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	Mar. 31, 2023	Mar. 31, 2022
Cash Flows from Operating Activities
Net Income (Loss)	$ (4,009)	$ (29,594)
Increase (decrease) in
Accounts receivable - related party	(2,762)	0
Accounts payable - other		20,031
Accounts payable - related parties	4,867	0
Net cash provided by (used for) operating activities	(1,904)	(9,563)
Cash Flow from Investing activities
(Increase) decrease in notes receivable - related parties		48,272
Mortgage receipts	1,053
Net cash provided by (used for) investing equivalents	1,053	48,272
Net increase (decrease) in cash and cash equivalents	(851)	38,709
Cash and cash equivalents at the beginning of period	337,696	51,659
Cash and cash equivalents at the end of period	$ 336,845	$ 90,368

ORGANIZATION AND BASIS OF PRESE

ORGANIZATION AND BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION AND BASIS OF PRESENTATION	NOTE 1. ORGANIZATION AND BASIS OF PRESENTATION Organization and business Direct Investment Holdings Group, Inc. was incorporated in Nevada on December 19, 1996 and the Company is headquartered in Plantation, FL. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable. Direct Investment Holdings Group, Inc. is a publicly traded company; however, no trading market presently exists for the shares of common stock and its value is therefore not determinable. Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States, or GAAP, have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments (consisting of normal recurring matters) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2022. Operating results for the three months period ended March 31, 2023 are not necessarily indicative of the results that may be expected for any subsequent quarter or for the fiscal year ending December 31, 2023.

CHANGE OF CONTROL

CHANGE OF CONTROL	3 Months Ended
	Mar. 31, 2023
Change Of Control
CHANGE OF CONTROL	NOTE 2. CHANGE OF CONTROL A Stock Purchase Agreement (the “Agreement”) was made, entered into, and closed as of April 7, 2021, by and among A Way Financial, Inc., a Delaware Business Corporation (the “Purchaser”) and TPS Income, Inc., and Nevada Sea Investments, Inc. (the “Sellers”). Sellers were, prior to the transaction closing the beneficial owner of the following shares of the Company: (i)TPS Income, Inc.(“TPS”) owned 37.48% 37.82% 1,057,628

NOTE RECEIVABLE AND ACCRUED INT

NOTE RECEIVABLE AND ACCRUED INTEREST – RELATED PARTY	3 Months Ended
	Mar. 31, 2023
Receivables [Abstract]
NOTE RECEIVABLE AND ACCRUED INTEREST – RELATED PARTY	NOTE 3. NOTE RECEIVABLE AND ACCRUED INTEREST – RELATED PARTY There are no

MORTGAGE RECEIVABLE

MORTGAGE RECEIVABLE	3 Months Ended
	Mar. 31, 2023
Mortgage Receivable
MORTGAGE RECEIVABLE	NOTE 4. MORTGAGE RECEIVABLE A mortgage receivable for $ 290,903 4.25% 30 Schedule of note receivable and accrued interest - related party 31-Mar-23 31-Mar-22 Mortgage receivable - current portion $ 5,081 $ — Mortgage receivable 281,934 — Total mortgage receivable $ 287,015 $ —

RELATED PARTIES TRANSACTIONS

RELATED PARTIES TRANSACTIONS	3 Months Ended
	Mar. 31, 2023
Related Party Transactions [Abstract]
RELATED PARTIES TRANSACTIONS	NOTE 5. RELATED PARTIES TRANSACTIONS 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. At March 31, 2023 there was a receivable from related party in the amount of $ 2,762 4,867

FEDERAL INCOME TAXES

FEDERAL INCOME TAXES	3 Months Ended
	Mar. 31, 2023
Income Tax Disclosure [Abstract]
FEDERAL INCOME TAXES	NOTE 6. FEDERAL 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. 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.

OTHER MATTERS

OTHER MATTERS	3 Months Ended
	Mar. 31, 2023
Other Matters
OTHER MATTERS	NOTE 7. OTHER MATTERS We are closely monitoring the impact of the COVID-19 pandemic on all aspects of our business and across our portfolio. While we did not experience significant disruptions during 2021 from the COVID-19 pandemic, we are unable to predict the impact the COVID-19 pandemic will have on its financial condition, results of operations and cash flows due to numerous uncertainties. First Equity Properties, Inc., a Nevada Business Corporation, had a name change to Direct Investment Holdings, Inc. filed effective November 2, 2021 with the Secretary of State, State of Nevada.

CONCENTRATIONS

CONCENTRATIONS	3 Months Ended
	Mar. 31, 2023
Risks and Uncertainties [Abstract]
CONCENTRATIONS	NOTE 8. CONCENTRATIONS The Company maintains its cash balances at financial institutions that are insured by the Federal Deposit Insurance Corporation (FDIC), which insure depositors up to $ 250,000 A substantial asset concentration related to a mortgage note receivable from one entity, a non-related party at March 31, 2023. Any adverse conditions that could affect the financial condition of this entity and specifically their ability to service debt obligation owed, could have a material effect on the financial statements of the Company. The entity is currently not in default of their obligations. Management of the Company considers the collectability of such obligation to not be a question at this time.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2023
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	NOTE 9. SUBSEQUENT EVENTS The Company has evaluated subsequent events through May 17, 2023, t

ORGANIZATION AND BASIS OF PRE_2

ORGANIZATION AND BASIS OF PRESENTATION (Policies)	3 Months Ended
	Mar. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and business	Organization and business Direct Investment Holdings Group, Inc. was incorporated in Nevada on December 19, 1996 and the Company is headquartered in Plantation, FL. The Company’s principal line of business and source of revenue is currently investments and interest on notes receivable. Direct Investment Holdings Group, Inc. is a publicly traded company; however, no trading market presently exists for the shares of common stock and its value is therefore not determinable.
Basis of presentation	Basis of presentation The accompanying unaudited financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States, or GAAP, have been condensed or omitted in accordance with such rules and regulations, although management believes the disclosures are adequate to prevent the information presented from being misleading. In the opinion of management, all adjustments (consisting of normal recurring matters) considered necessary for a fair presentation have been included. These financial statements should be read in conjunction with the financial statements and notes thereto included in the Company’s Annual Report on Form 10-K for the fiscal year ending December 31, 2022. Operating results for the three months period ended March 31, 2023 are not necessarily indicative of the results that may be expected for any subsequent quarter or for the fiscal year ending December 31, 2023.

MORTGAGE RECEIVABLE (Tables)

MORTGAGE RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2023
Mortgage Receivable
Schedule of note receivable and accrued interest - related party	Schedule of note receivable and accrued interest - related party 31-Mar-23 31-Mar-22 Mortgage receivable - current portion $ 5,081 $ — Mortgage receivable 281,934 — Total mortgage receivable $ 287,015 $ —

CHANGE OF CONTROL (Details Narr

CHANGE OF CONTROL (Details Narrative) - shares	3 Months Ended
	Mar. 31, 2023	Dec. 31, 2022	Apr. 07, 2022
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Common stock, shares issued	9,767,821	9,767,821	1,057,628
Common stock, shares outstanding	9,767,821	9,767,821	1,057,628
Stock Purchase Agreement [Member] | T P S Income Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of ownership prior to change of control	37.48%
Stock Purchase Agreement [Member] | Nevada Sea Investments Inc [Member]
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Percentage of ownership prior to change of control	37.82%

NOTE RECEIVABLE AND ACCRUED I_2

NOTE RECEIVABLE AND ACCRUED INTEREST – RELATED PARTY (Details Narrative)	Mar. 31, 2023 USD ($)
Receivables [Abstract]
Total note and account receivable - related party	$ 0

MORTGAGE RECEIVABLE (Details)

MORTGAGE RECEIVABLE (Details) - USD ($)	Mar. 31, 2023	Dec. 31, 2022	Mar. 31, 2022
Mortgage Receivable
Mortgage receivable - current portion	$ 5,081	$ 5,028
Mortgage receivable	281,934	$ 283,040
Total mortgage receivable	$ 287,015

MORTGAGE RECEIVABLE (Details Na

MORTGAGE RECEIVABLE (Details Narrative) - Direct Mortgage Investors [Member]	Aug. 05, 2022 USD ($)
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Mortgage receivable	$ 290,903
Note bears interest	4.25%
Term	30 years

RELATED PARTIES TRANSACTIONS (D

RELATED PARTIES TRANSACTIONS (Details Narrative)	Mar. 31, 2023 USD ($)
Related Party Transactions [Abstract]
Due from related party	$ 2,762
Due to related party	$ 4,867

CONCENTRATIONS (Details Narrati

CONCENTRATIONS (Details Narrative)	Mar. 31, 2023 USD ($)
Risks and Uncertainties [Abstract]
Insured amount	$ 250,000