Annual and transition report of foreign private issuers pursuant to Section 13 or 15(d)

Consolidated Statements of Financial Position

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Consolidated Statements of Financial Position - USD ($)
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Non-current assets      
Property and equipment, net $ 7,614 $ 11,047 $ 13,564
Investment properties 33,829,902 35,786,053 37,407,083
Other receivables, net less current portion 0 143,137 0
Total non-currents assets 33,837,516 35,940,237 37,420,647
Current assets      
Prepaid expenses 123,479 66,958 155,256
Trade and other receivables, net 407,010 756,940 842,879
Cash and cash equivalents 58,143 55,393 134,574
Total current assets 588,632 879,291 1,132,709
TOTAL ASSETS 34,426,148 36,819,528 38,553,356
Equity      
Ordinary shares, $.001 par value (Authorized 50,000,000 shares; 2,043,351, 2,040,451 and 2,040,451 shares issued; 1,903,723, 1,954,651 and 1,954,651 shares outstanding at December 31, 2017, 2016 and 2015 respectively; with 139,628, 85,800 and 85,800 shares as treasury shares at December 31, 2017, 2016 and 2015) 2,043 2,040 2,040
Share premium 19,604,277 19,240,641 18,289,096
Less: cost of 139,628, 85,800 and 85,800 treasury shares at December 31, 2017, 2016 and 2015 (423,855) (343,113) (343,113)
Retained deficit (25,894,120) (22,206,984) (21,641,840)
Foreign currency translation reserve (643,362) (1,456,369) (1,316,999)
Total deficit (7,355,017) (4,763,785) (5,010,816)
Non-current liabilities      
Loans and borrowings, less current portion 18,146,247 21,110,316 21,720,779
Trade and other payable, net less current portion 19,597 80,355 0
Deferred tax liabilities 2,750,314 2,557,571 2,764,734
Corporate tax liabilities, less current portion 1,035,955 674,164 714,771
Tenant security deposits 847,195 731,841 820,367
Total non-current liabilities 22,799,308 25,154,247 26,020,651
Current liabilities      
Notes payable to stockholders, net of unamortized discount of $731,473, $1,122,997 and $1,363,000 at December 31 2017, 2016 and 2015, respectively 3,987,479 2,485,566 1,328,263
Due to related party 670,017 1,260,243 1,089,549
Loans and borrowings 4,438,354 4,206,847 5,087,208
Trade and other payables 6,389,497 5,914,549 5,372,684
Other liabilities and other deferred income 308,852 301,800 358,634
Corporate tax liabilities 1,257,245 1,425,618 1,403,005
Derivative financial liabilities 1,859,700 794,235 2,733,836
Provisions 70,713 40,208 170,342
Total current liabilities 18,981,857 16,429,066 17,543,521
Total liabilities 41,781,165 41,583,313 43,564,172
TOTAL EQUITY AND LIABILITIES $ 34,426,148 $ 36,819,528 $ 38,553,356