Annual report pursuant to Section 13 and 15(d)

Investments in Unconsolidated Joint Ventures (Tables)

v3.20.1
Investments in Unconsolidated Joint Ventures (Tables)
 12 Months Ended
Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Information On the Joint Ventures

The Company has no fixed commitment to fund any losses of the operating joint ventures and has no investment basis in any of the joint ventures therefore the Company has suspended the recognition of losses under the equity method of accounting.

 

    December 31,     December 31,  
    2019     2018  
PWS-MWS Joint Venture                
Revenues   $ 228,300     $ 227,400  
Operating costs     232,500       158,700  
Net income     (4,200 )     68,700  
Company’s share of net income     -       34,400  
                 
PWS-Paragon Southwest Joint Venture                
Revenues   $ 1,196,800     $ 216,000  
Operating costs     2,381,100       953,700  
Net loss     (1,184,300 )     (737,700 )
Company’s share of net income     -       -  

 

    June 30,     June 30,  
    2019     2018  
PWS UK Joint Venture                
Assets   $ 671,100     $ 295,900  
Liabilities     154,400       91,500  
Net assets     516,700       204,400  
Net loss     73,600       28,800  
Company’s share of net income     -       -