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RELATED PARTIES
 9 Months Ended
Sep. 30, 2024
Related Party Transactions [Abstract]  
RELATED PARTIES

NOTE D – RELATED PARTIES

 

Beginning in 2011 Pillar Income Asset Management (“Pillar”) became an advisor to the Company. Pillar is a wholly owned subsidiary of Realty Advisors, Inc. Mr. Bertcher serves as a director of Pillar. The Company has conducted business with Pillar whereby Pillar provides the Company with services including processing payroll, acquiring insurance, Information Technology, Cybersecurity and other administrative matters. The Company believes that by purchasing these services through Pillar it can get lower costs and better service.

 

Until August 31, 2024 the arrangement between the Company and Pillar has been on an informal basis. Effective September 1, 2024 the Company and Pillar have entered into a formal agreement whereby Pillar will provide certain management administrative and advisory services for an agreed upon fee. The fee for Pillar’s services for the month of September 2024 was $3,000.