OCM HoldCo, LLC
CIK:0001353741|SEC Filings
Consolidated Statements of Comprehensive (Loss) Income - USD ($) |
3 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
Sep. 30, 2015 |
Sep. 30, 2014 |
Sep. 30, 2015 |
Sep. 30, 2014 |
|
| Income (loss) | ||||
| Interest income | $ 1,392 | $ 2,096 | $ 2,662 | $ 6,626 |
| Equity in loss of unconsolidated investees | (1,320,614) | (1,922,238) | (3,298,177) | (1,075,826) |
| Total income (loss) | (1,319,222) | (1,920,142) | (3,295,515) | (1,069,200) |
| Costs and expenses | ||||
| Professional fees | 35,648 | 52,090 | 161,702 | 186,294 |
| Administrative fees and other expenses | 13,308 | 13,363 | 40,713 | 40,780 |
| Total costs and expenses | 48,956 | 65,453 | 202,415 | 227,074 |
| Loss before income tax provision | (1,368,178) | (1,985,595) | (3,497,930) | (1,296,274) |
| Income tax benefit (provision) | 75 | (350) | (1,373) | (7,824,716) |
| Net loss | (1,368,103) | (1,985,945) | (3,499,303) | (9,120,990) |
| Equity in other comprehensive income (loss) of unconsolidated investee, net of tax, unrealized income (loss) on interest rate swap, and investments | 140 | (650) | (2,550) | (57,475) |
| Comprehensive loss | $ (1,367,963) | $ (1,986,595) | $ (3,501,853) | $ (9,178,465) |
Consolidated Statements of Cash Flows - USD ($) |
9 Months Ended | |
|---|---|---|
Sep. 30, 2015 |
Sep. 30, 2014 |
|
| Operating activities | ||
| Net loss | $ (3,499,303) | $ (9,120,990) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Equity in loss of unconsolidated investees | 3,298,177 | 1,075,826 |
| Deferred income taxes | 1,373 | 7,824,716 |
| Increase in accounts payable and accrued expenses | 52,487 | 36,942 |
| Net cash used in operating activities | (147,266) | (183,506) |
| Financing activities | ||
| Distribution to members | (1,051,200) | (1,051,200) |
| Net cash used in financing activities | (1,051,200) | (1,051,200) |
| Net decrease in cash | (1,198,466) | (1,234,706) |
| Cash, beginning of period | 8,083,625 | 9,363,650 |
| Cash, end of period | 6,885,159 | 8,128,944 |
| Noncash financing and investing activity | ||
| Equity in other comprehensive loss of unconsolidated investee | $ (2,550) | $ (57,475) |
Consolidated Balance Sheets - USD ($) |
Sep. 30, 2015 |
Dec. 31, 2014 |
|---|---|---|
| Current assets | ||
| Cash | $ 6,885,159 | $ 8,083,625 |
| Other assets | ||
| Investment in Cannery Casino Resorts, LLC | 76,391,960 | 79,694,060 |
| Gaming and related licenses | 805,698 | 805,698 |
| Net deferred tax assets, net of valuation allowance of $13,989,418 and $12,011,132 as of September 30, 2015 and December 31, 2014, respectively | 29,121 | 28,043 |
| TOTAL ASSETS | 84,111,938 | 88,611,426 |
| Current liabilities | ||
| Accounts payable and accrued expenses, including $268,732 and $217,394 to related parties as of September 30, 2015 and December 31, 2014, respectively | 288,862 | 236,375 |
| Net deferred tax liabilities, current, net of valuation allowance of $423,020 and $339,276 as of September 30, 2015 and December 31, 2014, respectively | 29,121 | 28,043 |
| Total current liabilities | 317,983 | 264,418 |
| Members' equity | 83,793,955 | 88,347,008 |
| TOTAL LIABILITIES AND MEMBERS' EQUITY | $ 84,111,938 | $ 88,611,426 |