Quarterly report pursuant to Section 13 or 15(d)

CONDENSED STATEMENTS OF OPERATIONS (Unaudited)

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CONDENSED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2016
Sep. 30, 2015
Sep. 30, 2016
Sep. 30, 2015
Income Statement [Abstract]        
Management fee income $ 500,000 $ 0 $ 549,451 $ 0
Total revenues 500,000 0 549,451 0
Operating expenses:        
General and administrative 600,017 652,659 1,899,586 1,985,383
Depreciation and amortization 3,484 4,010 10,848 12,286
Total operating expenses 603,501 656,669 1,910,434 1,997,669
Net operating income (loss) (103,501) (656,669) (1,360,983) (1,997,669)
Other income (expense):        
Other income (expense) 0 0 0 6,707
Gain on debt restructuring 0 0 41,621,150 0
Total other income (expense) 0 0 41,621,150 6,707
Income (loss) before provision for income taxes (103,501) (656,669) 40,260,167 (1,990,962)
Provision for income taxes 0 0 0 0
Income (loss) from continuing operations, net of income taxes (103,501) (656,669) 40,260,167 (1,990,962)
Loss from discontinued operations, net of income taxes 0 (28,263,818) (10,197,374) (46,872,099)
Net income (loss) $ (103,501) $ (28,920,487) $ 30,062,793 $ (48,863,061)
Weighted average common shares outstanding - basic 47,979,990 47,979,990 47,979,990 47,979,990
Weighted average common shares outstanding - fully diluted 47,979,990 47,979,990 48,055,112 47,979,990
Net income (loss) per common share - basic $ 0.00 $ (.60) $ 0.63 $ (1.02)
Net income (loss) per common share - fully diluted $ 0.00 $ (.60) $ .63 $ (1.02)