Quarterly report pursuant to Section 13 or 15(d)

Loan held for investment

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Loan held for investment
6 Months Ended
Jun. 30, 2018
Loan held for investment [Abstract]  
Loan Held for Investment [Text Block]
Note 5 — Loan held for investment
 
On
June 4, 2018
, the Company purchased a promissory note
 for $500,000
from a bank 
at a discount from face value of a company in financial difficulty.
 
As of
June 30, 2018
, the loan held-for-investment consisted of the following:
 
 
 
June 30,
 
 
 
2018
 
Cloud b,
 Inc.,
Promissory note, past due, Wall Street Journal prime rate plus 3% interest
 
$
2,270,000
 
Non-accretable purchase discount
 
 
(1,770,000
)
Total loan held-for-investment
 
$
500,000
 
 
The interest rate of the promissory note as of June 30, 2018 was 8%.