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Real Estate Held For Sale
3 Months Ended
Mar. 31, 2018
Real Estate [Abstract]  
Real Estate Held For Sale

NOTE 4 - REAL ESTATE HELD FOR SALE

 

At March 31, 2018 and December 31, 2017, real estate held for sale totaled $3,430,641. Real estate held for sale represents multiple units in a building located in Hong Kong. The property was developed for resale on a unit by unit basis andrepresents properties for which a committed plan to sell exists and an active program to market such properties has been initiated. Real estate held for sale is stated at cost less costs to sell unless the inventory is determined to be impaired in which case the impaired inventory is written down to fair value. At March 31, 2018, the Company’s real estate held for sale was pledged to a non-banking lender as security collateral for loans of $645,161 (see Note 7).