SEC Company Response from OWENS MORTGAGE INVESTMENT FUND A CALIF LTD PARTNERSHIP (CIK 0000841501) — Oct 17, 2005
OWENS MORTGAGE INVESTMENT FUND A CALIF LTD PARTNERSHIP (CIK 0000841501)
Date: Oct. 17, 2005 · CIK: 0000841501 · Accession: 0000841501-05-000020
AI Filing Summary & Sentiment
Letter
Exhibit A
Dation, LLC Analysis of Difference Between Equity Method and Consolidation As of December 31, 2004
Dation, LLC Statement
OMIF Statement As Issued
OMIF Statement If Consolidated
Balance Sheet
Cash and equivalents
$ 26,906
$ 9,008,819
$ 9,035,725
Loans secured by trust deeds
—
254,331,902
254,331,902
Interest and other receivables
31,390
3,196,324
3,227,714
Due from affilliate (Dation, LLC)
—
62,257
—
Real estate held for sale
2,372,477
9,034,578
9,459,101
Real estate held for investment
—
23,322,740
23,322,740
Total assets
$ 2,430,774
$ 298,956,620
$ 299,377,183
Accrued distributions payable
$ —
$ 546,219
$ 546,219
Due to general partner
—
672,940
672,940
Accounts payable and accrued liabiliites
141,063
459,700
600,763
Interest payable to OMIF
895,967
—
—
Note payable to OMIF
2,056,355
—
—
Note payable
—
9,728,973
9,728,973
Note payable to general partner
—
1,102,895
1,102,895
Minority interest
—
178,597
178,597
$ 3,093,385
$ 12,689,324
$ 12,830,387
OMIF Contributions
445,710
—
—
Partners' Capital
(1,108,321 )
286,267,296
286,546,796
$ 2,430,774
$ 298,956,620
$ 299,377,183
Dation LLC Statement
OMIF Statement As Issued
OMIF Statement If Consolidated
Income Statement
Revenues:
Interest income on loans secured by trust deeds
$
$ 26,559,888
$ 26,560,570
Gain on sale of real estate, net
107,532
814,681
922,213
Rental and other income from real estate properties
148,442
3,488,580
3,508,693
Other income
—
989,559
989,559
Total revenues
$ 256,656
$ 31,852,708
$ 31,981,035
Expenses:
Management fees to general partner
$ —
$ 5,266,194
$ 5,266,194
Service fees to general partner
—
662,603
662,603
Carried interest to general partner
—
9,164
9,164
Administrative
—
44,400
44,400
Legal and accounting
—
259,130
259,130
Rental and other expenses on real estate properties
541,323
4,524,057
4,542,999
Interest expense
—
1,118,204
1,118,204
Minority interest
—
54,670
54,670
Other
—
78,751
78,751
Recovery of bad debts
—
(240,000 )
(240,000 )
Provision for losses on real estate held for sale
—
83,294
83,294
Total expenses
$ 541,323
$ 11,860,467
$ 11,879,409
Net income (loss)
$ (284,667 ) $ 19,992,241
$ 20,101,626
Show Raw Text
CORRESP 1 filename1.htm Exhibit A Dation, LLC Analysis of Difference Between Equity Method and Consolidation As of December 31, 2004 Dation, LLC Statement OMIF Statement As Issued OMIF Statement If Consolidated Balance Sheet Cash and equivalents $ 26,906 $ 9,008,819 $ 9,035,725 Loans secured by trust deeds — 254,331,902 254,331,902 Interest and other receivables 31,390 3,196,324 3,227,714 Due from affilliate (Dation, LLC) — 62,257 — Real estate held for sale 2,372,477 9,034,578 9,459,101 Real estate held for investment — 23,322,740 23,322,740 Total assets $ 2,430,774 $ 298,956,620 $ 299,377,183 Accrued distributions payable $ — $ 546,219 $ 546,219 Due to general partner — 672,940 672,940 Accounts payable and accrued liabiliites 141,063 459,700 600,763 Interest payable to OMIF 895,967 — — Note payable to OMIF 2,056,355 — — Note payable — 9,728,973 9,728,973 Note payable to general partner — 1,102,895 1,102,895 Minority interest — 178,597 178,597 $ 3,093,385 $ 12,689,324 $ 12,830,387 OMIF Contributions 445,710 — — Partners' Capital (1,108,321 ) 286,267,296 286,546,796 $ 2,430,774 $ 298,956,620 $ 299,377,183 Dation LLC Statement OMIF Statement As Issued OMIF Statement If Consolidated Income Statement Revenues: Interest income on loans secured by trust deeds $ 682 $ 26,559,888 $ 26,560,570 Gain on sale of real estate, net 107,532 814,681 922,213 Rental and other income from real estate properties 148,442 3,488,580 3,508,693 Other income — 989,559 989,559 Total revenues $ 256,656 $ 31,852,708 $ 31,981,035 Expenses: Management fees to general partner $ — $ 5,266,194 $ 5,266,194 Service fees to general partner — 662,603 662,603 Carried interest to general partner — 9,164 9,164 Administrative — 44,400 44,400 Legal and accounting — 259,130 259,130 Rental and other expenses on real estate properties 541,323 4,524,057 4,542,999 Interest expense — 1,118,204 1,118,204 Minority interest — 54,670 54,670 Other — 78,751 78,751 Recovery of bad debts — (240,000 ) (240,000 ) Provision for losses on real estate held for sale — 83,294 83,294 Total expenses $ 541,323 $ 11,860,467 $ 11,879,409 Net income (loss) $ (284,667 ) $ 19,992,241 $ 20,101,626