$UCASU

UC Asset LP

CIK:0001723517|SEC Filings

Condensed Consolidated Statements of Changes in Net Assets from Operations (unaudited) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020	Sep. 30, 2021	Sep. 30, 2020
INCOME
Total income	$ 58,766	$ 965,192	$ 2,122,717	$ 1,904,151
COST OF SALES
Cost of sales	149,297	908,577	2,079,752	2,250,638
Total cost of sales	149,297	908,577	2,079,752	2,250,638
Gross Margin	(90,531)	56,615	42,965	(346,487)
OPERATING EXPENSES
Management fees	45,288	45,288	135,863	137,502
General and administrative expenses	144,469	63,182	294,096	205,568
Interest expense	4,000		4,000	8,000
Depreciation	28,270	14,260	72,677	37,451
Total operating expenses	222,027	122,730	506,636	388,521
Net investment loss before unrealized gains (losses)	(312,558)	(66,115)	(463,671)	(735,008)
Net realized and unrealized gains (losses) from investments:
Net unrealized gain (loss) on portfolio investments	(255,403)	133,453	(361,716)	(1,054,155)
Net realized and unrealized gains (losses)	(255,403)	133,453	(361,716)	(1,054,155)
Net increase (decrease) in net assets from operations	$ (567,961)	$ 67,338	$ (825,387)	$ (1,789,163)
Net increase in net assets per unit (in Dollars per share)	$ (0.1)	$ 0.01	$ (0.15)	$ (0.32)
Weighted average units outstanding (in Shares)	5,635,303	5,635,303	5,635,303	5,635,303
Sales of homes
INCOME
Total income		$ 939,436	$ 1,909,644	$ 1,808,523
Rental income
INCOME
Total income	22,000	29,800	83,242	76,447
Interest income
INCOME
Total income	$ 36,766	$ (4,044)	$ 129,831	$ 19,181

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	9 Months Ended
	Sep. 30, 2021	Sep. 30, 2020
CASH FLOWS FROM OPERATING ACTIVITIES:
Net decrease in net assets from operations	$ (825,387)	$ (1,789,163)
Adjustments to reconcile net decrease in net assets from operations to net cash provided by (used in) operating activities:
Net unrealized losses on portfolio investments	361,716	1,054,155
Amortization of prepaid expense	54,355	34,597
Depreciation	72,677	37,451
Changes in working capital items
Accounts receivable and accrued interest	(88,211)	(28,387)
Prepaid expenses, deposits and other assets	(10,761)	(24,929)
Accrued and other liabilities	86,758	48,634
Net cash used in operating activities	(348,853)	(667,642)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in portfolio properties	(2,508,579)	(648,651)
Sale of portfolio properties	1,909,644	1,808,523
Investments in portfolio loans	(100,000)	(400,000)
Repayments of portfolio loans	54,190	54,014
Purchase of fixed assets		(6,000)
Net cash (used in) provided by investing activities	(644,745)	807,886
CASH FLOWS FROM FINANCING ACTIVITIES:
Cash received from mortgage loan on portfolio property	400,000
Cash received from construction loan on portfolio property		232,000
Cash received for preferred A units		300,000
Net cash provided by financing activities	400,000	532,000
Net increase in cash and cash equivalents	(593,598)	672,244
Cash and cash equivalents, beginning of period	1,419,710	153,687
Cash and cash equivalents, end of period	826,112	825,931
SUPPLEMENTAL DISCLOSURE OF CASH FLOW INFORMATION:
Interest paid in cash	4,000
Non-cash financing activities:
Portfolio property exchanged for convertible note receivable		$ 1,300,000

Condensed Consolidated Balance Sheets - USD ($)	Sep. 30, 2021	Dec. 31, 2020
ASSETS
Cash	$ 826,112	$ 1,419,710
Portfolio investments	7,795,012	7,493,777
Property and equipment, net	3,333	6,005
Prepaid expenses and other assets	17,381	60,975
Total Assets	8,641,838	8,980,467
LIABILITIES AND PARTNERS’ CAPITAL
Accounts payable and accrued liabilities	144,696	57,938
Mortgage loans	400,000
Partners capital:
Series A preferred units, 166,667and 0 issued and outstanding at September 30, 2020 and December 31, 2019, respectively	300,000	300,000
Common units, 5,635,306 units issued and outstanding at September 30, 2020 and December 31, 2019	7,797,142	8,622,529
Total Liabilities and Partners’ Capital	$ 8,641,838	$ 8,980,467