General form of registration statement for all companies including face-amount certificate companies

Equity Method Investments

v2.4.0.6
Equity Method Investments
9 Months Ended
Sep. 30, 2012
Text Block [Abstract]  
Equity Method Investments
5. Equity Method Investments.  Our investment in Betazone, which is our significant unconsolidated subsidiary, is accounted for using the equity method of accounting.  Summarized financial information for our investment in Betazone assuming 100% ownership interest is as follows:

   
September 30, 2012
   
December 31, 2011
 
Balance sheet
           
Current assets
   
9,768
     
124,462
 
Current liabilities
   
264,199
     
131,672
 
                 
Statement of operations
               
Revenues
   
29,534
     
315,346
 
Net loss
   
(229,323
)
   
(102,047
)

In 2011, the Company's share of Betazone's losses became equal in amount to the carrying value of its investment in Betazone. Accordingly, the Company suspended the equity method of accounting for its investment and no additional losses were charged to operations. The Company’s unrecorded share of losses for the nine months ended September 30, 2012 totaled $103,195.