Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) (USD $)
 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Cash flows from operating activities:    
Net income $ 11,222,929 $ 8,775,498
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (43,147) (605,675)
Depreciation and amortization 6,543 6,240
Loss on disposal of fixed assets 2,470  
Changes in operating assets and liabilities:    
Accrued receivables and other assets 582,403 (208,588)
Prepaid income taxes (105,358) 57,893
Notes receivable for land sales 171,263 1,808,348
Accounts payable, accrued expenses and other liabilities 80,701 170,202
Income taxes payable (1,251,847) 391,064
Net cash provided by operating activities 10,665,957 10,394,982
Cash flows from investing activities:    
Proceeds from sale of fixed assets 13,500  
Purchase of fixed assets (45,599) (16,893)
Net cash used in investing activities (32,099) (16,893)
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest (9,986,075) (7,436,185)
Dividends paid (2,091,907) (2,000,233)
Net cash used in financing activities (12,077,982) (9,436,418)
Net increase (decrease) in cash and cash equivalents (1,444,124) 941,671
Cash and cash equivalents, beginning of period 13,029,578 7,149,552
Cash and cash equivalents, end of period $ 11,585,454 $ 8,091,223