NGA Holdco, LLC

CIK:0001405621|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	3 Months Ended
CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	May 31, 2016	May 31, 2015
Income Statement [Abstract]
Realized gain on the sale of marketable securities	$ 15,512,762	$ 0
Interest income	283,522	273,778
Equity in net income of unconsolidated investees	1,891,200	1,756,800
Professional fees and other expenses	(92,080)	(112,293)
Income before income taxes	17,595,404	1,918,285
Income tax expense	5,979,441	0
Net income	11,615,963	1,918,285
Unrealized gain on available-for-sale securities	0	14,348,366
Comprehensive income	$ 11,615,963	$ 16,266,651

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	3 Months Ended
	May 31, 2016	May 31, 2015
Operating activities:
Net income	$ 11,615,963	$ 1,918,285
Adjustments to reconcile net income to net cash provided by operating activities:
Realized gain on sale of marketable securities	(15,512,762)	0
Equity in net income of unconsolidated investee	(1,891,200)	(1,756,800)
Decrease in income tax receivable	91,080	0
(Decrease) Increase in accounts payable and accrued expenses	(3,617)	39,397
Deferred federal income tax expense	3,229,150	0
Increase in federal tax liability	2,659,211	0
Net cash provided by operating activities	187,825	200,882
Investing activities:
Repayment of Loan to Newport Funds (via reclassification to distribution)	4,900,000	0
Distributions received from equity investment in Mesquite	440,298	400,000
Net cash provided by investing activities	41,789,627	400,000
Financing activities:
Advances received from the Newport Funds	65,698	72,896
Distributions	(41,407,292)	0
Net cash (used in) provided by financing activities	(41,341,594)	72,896
Net increase in cash	635,858	673,778
Cash, beginning of period	770,927	4,306,170
Cash, end of period	1,406,785	4,979,948
Tamarack Crossing, LLC
Investing activities:
Distributions received from equity investment in Mesquite	$ 36,449,329	$ 0

CONSOLIDATED BALANCE SHEETS - USD ($)	May 31, 2016	Feb. 29, 2016
Current assets:
Cash	$ 1,406,785	$ 770,927
Income tax receivable	0	91,080
Current Assets	1,406,785	41,346,776
Other assets:
Deferred federal tax asset	651,730	0
Due from the Newport Funds	0	0
Total Assets	22,127,839	59,965,198
Current liabilities:
Accounts payable and accrued expenses	39,659	43,276
Income taxes payable	2,659,211	0
Total Current Liabilities	2,698,870	43,276
Deferred federal tax liability, non-current	0	1,253,354
Total Liabilities	2,867,224	1,399,287
Members’ equity:
Accumulated other comprehensive (loss) income	0	9,513,969
Accumulated deficit, net of accumulated distributions of $47,724,049 and $6,316,757 as of May 31, 2016 and February 29, 2016, respectively.	(38,288,065)	(8,496,738)
Total Members' Equity	19,260,615	58,565,911
Total Liabilities and Members' Equity	22,127,839	59,965,198
Class A Units
Members’ equity:
Members unit, value	3,806	3,806
Class B Units
Members’ equity:
Members unit, value	57,544,874	57,544,874
Newport
Current assets:
Note receivable, Newport Funds	0	4,900,000
Current liabilities:
Long-term amounts due to the Newport Funds	168,354	102,657
Eldorado
Current assets:
Investment	0	35,584,769
Mesquite
Current assets:
Investment	6,069,324	4,618,422
Other assets:
Note receivable, Mesquite	$ 14,000,000	$ 14,000,000