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INVESTMENTS (Tables)
 3 Months Ended
Dec. 31, 2014
INVESTMENTS  
Summary of investments

 

 

 

 

December 31,

 

September 30,

 

2014

 

2014

 

 

 

 

 

 

 

 

Investment in land

 

$
1,192,000 

 

 

 

$
1,192,000 

 

Investment in land development partnerships

 
4,746,000 

 

 

 
4,658,000 

 

Investment in leasehold land interest – Lot 4C

 
50,000 

 

 

 
50,000 

 

 

 

 

 

 

 

 

 

Total investments

 

$
5,988,000 

 

 

 

$
5,900,000 

 

 

 

 

 

 

 

Summarized financial information for the land development partnerships

 

 

 

Three months ended

 

November 27, 2013 -

 

 

 

December 31, 2014

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

Revenue

 

$
4,626,000

 

 

$
269,000

 

 

Gross profit

 

$
1,427,000

 

 

$
211,000

 

 

Net earnings (loss)

 

$
420,000

 

 

$
(381,000

)

 

 

Kaupulehu Developments  
INVESTMENTS  
Summary of Increment I percentage of sales payment revenues received

 

 

 

 

Three months ended

December 31,

 

 

 

2014

 

2013

 

 

 

 

 

 

 

Sale of interest in leasehold land:

 

 

 

 

 

 

 

 

 

 

 

Proceeds

 

 

$
1,200,000

 

 

 

$
140,000

 

 

Fees

 

 

 
(168,000

)

 

 

 
(20,000

)

 

 

 

 

 

 

 

 

 

 

 

 

 

Revenues – sale of interest in leasehold land, net

 

 

$
1,032,000

 

 

 

$
120,000