ICON LEASING FUND ELEVEN, LLC

CIK:0001312910|SEC Filings

Consolidated Statements of Operations - USD ($)	12 Months Ended
Consolidated Statements of Operations - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Revenue and other income (loss):
Rental income	$ 0	$ 6,360,041
Loss from investment in joint ventures	(2,110,407)	(11,518,496)
Gain on sale of assets, net	0	448,710
Gain on litigation	0	82,298
Other revenue	117,288	0
Total revenue and other income (loss)	(1,993,119)	(4,627,447)
Expenses:
General and administrative	1,199,697	2,345,789
Depreciation	0	4,927,106
Litigation expense	1,891,000	0
Interest	0	27,481
Total expenses	3,090,697	7,300,376
Loss before income taxes	(5,083,816)	(11,927,823)
Income tax expense	0	15,793
Net loss	(5,083,816)	(11,943,616)
Less: net income attributable to noncontrolling interests	6,477	480,815
Net loss attributable to Fund Eleven Liquidating Trust	(5,090,293)	(12,424,431)
Net loss attributable to Fund Eleven Liquidating Trust allocable to:
Additional beneficial owners	(5,039,390)	(12,300,187)
Managing Trustee	(50,903)	(124,244)
Net loss attributable to Fund Eleven Liquidating Trust	$ (5,090,293)	$ (12,424,431)
Weighted average number of additional beneficial interests outstanding (in shares)	362,656	362,656
Net loss attributable to Fund Eleven Liquidating Trust per weighted average additional beneficial interest outstanding (USD per share)	$ (13.90)	$ (33.92)

Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net (loss) income	$ (5,083,816)	$ (11,943,616)
Adjustments to reconcile net loss to net cash (used in) provided by operating activities:
Loss from investment in joint ventures	2,110,407	11,518,496
Depreciation	0	4,927,106
Gain on sale of assets, net	0	(448,710)
Interest expense, other	0	27,481
Changes in operating assets and liabilities:
Other assets	178,499	(327,040)
Accrued expenses and other liabilities	(386,611)	(306,642)
Due to Managing Trustee and affiliates, net	0	(228,736)
Distributions from joint venture	0	98,361
Net cash (used in) provided by operating activities	(3,181,521)	3,316,700
Cash flow from investing activities:
Proceeds from sales of leased equipment	0	2,991,400
Investment in joint venture	(11,878)	(17,497)
Net cash (used in) provided by investing activities	(11,878)	2,973,903
Cash flow from financing activities:
Distributions to beneficial owners	0	(7,070,571)
Distributions to noncontrolling interests	(14,190)	(2,816,967)
Net cash used in financing activities	(14,190)	(9,887,538)
Net decrease in cash and cash equivalents	(3,207,589)	(3,596,935)
Cash and cash equivalents, beginning of year	3,459,766	7,056,701
Cash and cash equivalents, end of year	252,177	3,459,766
Supplemental disclosure of non-cash investing and financing activities:
Mutual release of notes receivable and seller's credits obligations	$ 0	$ 5,350,503

Consolidated Balance Sheets - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents	$ 252,177	$ 3,459,766
Other current assets	148,541	327,040
Total current assets	400,718	3,786,806
Non-current assets:
Investment in joint ventures	0	2,098,529
Total non-current assets	0	2,098,529
Total assets	400,718	5,885,335
Current liabilities:
Accrued expenses and other liabilities	194,515	581,126
Total liabilities	194,515	581,126
Commitments and contingencies (Note 11)
Beneficial owners' equity:
Additional beneficial owners	3,397,592	8,436,982
Managing Trustee	(3,193,643)	(3,142,740)
Total beneficial owners' equity	203,949	5,294,242
Noncontrolling interests	2,254	9,967
Total equity	206,203	5,304,209
Total liabilities and equity	$ 400,718	$ 5,885,335