Quarterly report pursuant to Section 13 or 15(d)

Statements of Cash Flows (Unaudited)

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Statements of Cash Flows (Unaudited) (USD $)
 3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Cash flows from operating activities:    
Net income $ 7,249,918 $ 4,137,844
Adjustments to reconcile net income to net cash provided by operating activities:    
Deferred taxes (125,468) (104,736)
Depreciation and amortization 5,655 4,095
Changes in operating assets and liabilities:    
Accrued receivables and other assets (951,203) (497,861)
Prepaid income taxes   416,882
Notes receivable for land sales 366,721 332,356
Accounts payable, accrued expenses and other liabilities 34,299 (296,434)
Income taxes payable 3,508,976 1,403,493
Net cash provided by operating activities 10,088,898 5,395,639
Cash flows from investing activities:    
Purchase of fixed assets (787)  
Net cash used in investing activities (787)  
Cash flows from financing activities:    
Purchase of Sub-share Certificates in Certificates of Proprietary Interest (2,779,165) (3,876,907)
Dividends paid (2,280,300)  
Net cash used in financing activities (5,059,465) (3,876,907)
Net increase in cash and cash equivalents 5,028,646 1,518,732
Cash and cash equivalents, beginning of period 13,239,211 8,424,907
Cash and cash equivalents, end of period $ 18,267,857 $ 9,943,639