NOTE 3. NOTE PAYABLE, NET (Details Narrative) - Block 40 L L C 2023 [Member] - USD ($) |
12 Months Ended | ||
|---|---|---|---|
Dec. 31, 2023 |
Jun. 01, 2024 |
Jun. 01, 2022 |
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| Short-Term Debt [Line Items] | |||
| Line of Credit Facility, Maximum Borrowing Capacity | $ 84,000,000 | ||
| [custom:DebtInstrumentBasisSpreadOnVariableRate-0] | 2.75% | ||
| [custom:DerivativeInstrumentInterestRateCapRatePercentage-0] | 2.25% | ||
| Derivative Asset, Subject to Master Netting Arrangement, before Offset | $ 1,249,000 | ||
| Loan Agreement Financial Institution [Member] | |||
| Short-Term Debt [Line Items] | |||
| Debt Instrument, Interest Rate, Effective Percentage | 8.09% | ||
| Escrow Deposit | $ 775,000 | ||
| Interest Rate Cap [Member] | |||
| Short-Term Debt [Line Items] | |||
| Debt Instrument, Interest Rate, Stated Percentage | 5.00% | ||
| Derivative, Gain on Derivative | 2,362,000 | ||
| Unrealized Gain (Loss) on Derivatives | 1,736,000 | ||
| Interest Expense, Operating and Nonoperating | 5,635,000 | ||
| Amortization of Debt Issuance Costs and Discounts | $ 1,315,000 |
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- References No definition available.
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- References No definition available.
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- Definition Amount of amortization expense attributable to debt discount (premium) and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium. Reference 1: http://www.xbrl.org/2003/role/exampleRef
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- Definition Contractual interest rate for funds borrowed, under the debt agreement. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Fair value, before effects of master netting arrangements, of a financial asset or other contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets elected not to be offset. Excludes assets not subject to a master netting arrangement. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Amount of increase in the fair value of derivatives recognized in the income statement. Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
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- Definition The designation of funds furnished by a borrower to a lender to assure future payments of the borrower's real estate taxes and insurance obligations with respect to a mortgaged property. Escrow deposits may be made for a variety of other purposes such as earnest money and contingent payments. This element excludes replacement reserves which are an escrow separately provided for within the US GAAP taxonomy. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Amount of interest expense classified as operating and nonoperating. Includes, but is not limited to, cost of borrowing accounted for as interest expense. Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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- Definition Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period. Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
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