Ownership / Divall Insured Income Properties 2 Limited Partnership | Tables in SEC filings

DIVVZ Divall Insured Income Properties 2 Limited Partnership

Quarterly report

	September 30, 2024		September 30, 2023
	Nine Months Ended
	September 30, 2024		September 30, 2023
	(unaudited)		(unaudited)

CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$	58,369	$	5,648,248
Adjustments to reconcile net income to net cash from operating activities:
Depreciation and amortization		12,801		83,786
Changes in operating assets and liabilities
Gain on sale of property		-		(5,375,213)
Decrease in rents and other receivables		145,120		300,314
(Increase) decrease in security deposit escrow		(592)		13,484
Decrease in prepaid insurance		1,392		2,278
Decrease in prepaid state income taxes		24,897		4,355
(Decrease) increase in accounts payable and accrued expenses		(195,604)		176,903
Security deposit refund		-		(21,820)
Decrease (Increase) in deferred closing costs		(17,762)		(50,667)
Increase in unearned rental income		-		30,801
(Decrease) Increase in due to General Partner		(29,214)		(2,090)
Net cash from (used in) operating activities		(593)		810,379

CASH FLOWS PROVIDED FROM INVESTING ACTIVITIES:
Proceeds from sale of Property, net		-		6,229,467
Interest applied to Indemnification Trust account		(22,699)		(7,808)
Indemnification Trust account withdrawal		120,000		-
Net cash provided from investing activities		97,301		6,221,659

CASH FLOWS USED IN FINANCING ACTIVITIES:
Cash distributions to Limited Partners		(234,495)		(1,875,001)
Cash distributions to General Partner		(1,060)		(5,848)
Net cash used in financing activities		(235,555)		(1,880,849)

NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(138,847)		5,151,189
CASH AND CASH EQUIVALENTS AT BEGINNING OF PERIOD		179,745		171,236
CASH AND CASH EQUIVALENTS AT END OF PERIOD	$	40,898	$	5,322,425

Supplemental disclosure of cash flow information
Noncash investing activities
Distributions declared, not yet paid	$	166	$	5,019,601

	Three Month Period ended September 30, 2024		Three Month Period ended September 30, 2023		Nine Month Period ended September 30, 2024		Nine Month Period ended September 30, 2023
	(Unaudited)		(Unaudited)		(Unaudited)		(Unaudited)
Advisory Board Fees paid	$	375	$	875	$	1,125	$	2,625

	September 30,		December 31,
	2024		2023
	(unaudited)

PROPERTIES HELD FOR SALE: (Note 3)

Properties held for sale	$	725,765	$	725,765

OTHER ASSETS:

Cash and cash equivalents		40,898		179,745
Investments held in Indemnification Trust (Note 7)		390,646		487,947
Security deposits escrow		17,948		17,356
Rents and other receivables		-		145,120
Prepaid state income tax		10,222		35,118
Deferred closing costs		49,053		31,291
Prepaid insurance		185		1,577
Deferred charges, net		77,104		89,906
Total other assets		586,055		988,060

Total assets	$	1,311,820	$	1,713,825

	2024		2023		2024		2023
	Three months ended				Nine months ended
	September 30,		September 30,		September 30,		September 30,
	2024		2023		2024		2023
	(unaudited)		(unaudited)		(unaudited)		(unaudited)
OPERATING REVENUES:
Rental income (Note 3)	$	117,587	$	309,010	$	352,761	$	907,706
TOTAL OPERATING REVENUES		117,587		309,010		352,761		907,706
EXPENSES:
Partnership management fees (Note 5)		45,000		68,079		135,000		204,237
Insurance		554		712		1,582		2,179
General and administrative		4,881		149,503		20,873		224,991
Advisory Board fees and expenses		750		1,750		2,250		5,250
Professional services		27,520		30,506		150,593		123,239
Depreciation		-		-		-		-
Amortization		4,267		53,781		12,801		83,785
TOTAL OPERATING EXPENSES		82,972		304,331	$	323,098	$	643,681
OTHER INCOME
Other interest income		2,271		1,011		28,706		9,010
Gain on sale of property		-		4,338,508		0		5,375,213
TOTAL OTHER INCOME		2,271		4,339,519		28,706		5,384,223

NET INCOME	$	36,886	$	4,344,198	$	58,369	$	5,648,248
NET INCOME ALLOCATED - GENERAL PARTNER	$	369	$	43,442	$	584	$	56,482
NET INCOME ALLOCATED - LIMITED PARTNERS	$	36,517	$	4,300,756	$	57,784	$	5,591,766

Based on 46,280.3 interests outstanding: (Basic and diluted)
NET INCOME PER LIMITED PARTNERSHIP INTEREST	$	0.79	$	92.93	$	1.25	$	120.82

	September 30,		December 31,
	2024		2023

Balance Sheet:
Land	$	725,765	$	725,765
Building		1,810,991		1,810,991
Accumulated Depreciation		(1,810,991)		(1,810,991)
Properties held for sale	$	725,765	$	725,765

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