Quarterly report pursuant to Section 13 or 15(d)

INVESTMENT IN UNCONSOLIDATED ENTITY

v3.22.1
INVESTMENT IN UNCONSOLIDATED ENTITY
3 Months Ended
Mar. 31, 2022
NOTE 6 - INVESTMENT IN UNCONSOLIDATED ENTITY

NOTE 6 – INVESTMENT IN UNCONSOLIDATED ENTITIES

 

The Company accounts for its investment for its investments in Viking under the equity method. The Company owns 63% of the outstanding common shares of Viking March 31, 2022 and December 31, 2021.

Table below shows the changes in the investments in unconsolidated entities for the three-month period ended March 31, 2022 and the year ended December 31, 2021.

 

 

 

March 31,

2022

 

 

December 31,

2021

 

Carrying amount – beginning of period

 

$ 36,299,592

 

 

$ 15,830,538

 

Investment in Viking

 

 

 -

 

 

 

29,900,000

 

Proportionate Share of (losses)

 

(965,910

)

 

 

(9,430,946 )

 

 

 

 

 

 

 

 

 

Carrying amount - ending

 

$

35,333,682

 

 

$ 36,299,592