Aerocentury corp (ACY)
Balance Sheet / TTM
Dec'19Sep'19Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14Dec'13Sep'13Jun'13Mar'13Dec'12Sep'12Jun'12Mar'12Dec'11Sep'11Jun'11Dec'10
ASSETS
Cash and cash equivalents

2,350

2,058

3,356

8,045

1,542

6,769

4,378

4,793

8,657

6,529

4,161

2,808

2,194

3,581

2,219

2,891

2,721

2,426

3,241

1,880

1,840

2,588

5,909

4,929

2,112

5,077

7,647

2,403

1,596

4,821

3,215

1,702

995

1,345

1,464

1,949

Restricted cash

1,076

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Securities

0

0

0

121

121

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Accounts receivable, including deferred rent of $828,000 and $869,600 at December 31, 2019 and December 31, 2018, respectively

1,139

1,437

5,633

5,131

3,967

3,168

3,151

3,159

3,825

4,004

6,155

4,695

4,046

3,717

3,221

6,155

5,693

3,263

3,189

2,530

2,128

2,726

2,797

2,501

3,303

2,079

2,873

2,808

3,196

3,372

3,335

3,504

2,936

3,183

3,986

2,005

Finance leases receivable, net of allowance for doubtful accounts of $2,908,600 and $0 at December 31, 2019 and December 31, 2018, respectively

8,802

12,072

16,589

14,249

15,250

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance leases receivable

-

-

-

-

-

16,055

22,066

22,893

23,561

24,470

25,280

26,145

17,468

18,288

11,753

-

11,895

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Finance leases receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

10,398

-

12,864

10,835

4,600

0

945

945

1,867

1,895

1,933

2,007

1,500

1,557

-

-

-

1,271

-

-

-

Finance lease receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,141

1,185

-

-

-

-

-

Finance lease receivable

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,228

-

1,313

-1,354

0

Aircraft and aircraft engines held for lease, net of accumulated depreciation of $31,338,700 and $36,675,500 at December 31, 2019 and December 31, 2018, respectively

108,368

130,948

168,381

174,310

184,019

187,092

210,592

188,858

195,098

204,967

203,142

186,015

192,799

196,507

133,444

153,178

155,258

163,812

170,638

180,724

186,762

159,408

166,922

179,709

152,954

138,712

140,102

141,670

143,667

142,198

144,650

131,257

124,245

120,939

120,057

126,822

Assets held for sale

26,036

18,361

9,682

10,134

10,223

-

-

-

4,966

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Property, equipment and furnishings, net of accumulated depreciation of $9,600 and $2,200 at December 31, 2019 and December 31, 2018, respectively

62

64

66

68

69

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Office lease right of use, net of accumulated amortization of $405,400 at December 31, 2019

948

1,169

1,271

1,372

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Favorable office lease acquired, net of accumulated amortization of $61,700 at December 31, 2018

0

0

0

0

863

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Deferred tax asset

517

454

393

315

254

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Assets held for sale

-

-

-

-

-

14,511

4,736

4,821

-

7,412

1,925

1,995

1,998

2,055

2,388

3,442

5,228

8,729

8,748

5,295

6,522

6,561

509

-

735

-

-

-

-

-

-

-

-

-

-

-

Assets held for sale

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

519

-

1,374

1,447

1,601

745

894

-

-

0

-

-

-

Prepaid expenses and other assets

292

453

286

365

840

353

312

1,662

301

371

925

372

229

289

1,298

320

228

214

276

324

415

4,296

5,005

3,553

3,633

3,163

2,948

3,227

1,663

2,129

2,011

2,488

1,378

1,482

2,299

2,234

Total assets

149,595

167,020

205,662

214,113

217,152

227,951

245,236

226,187

236,409

247,755

241,590

222,031

218,736

224,439

154,326

176,387

181,025

191,310

196,929

195,355

197,670

176,526

182,089

193,081

164,634

152,340

157,026

153,212

152,426

154,557

154,398

140,181

130,826

128,264

129,161

133,011

LIABILITIES AND STOCKHOLDERS' EQUITY
Liabilities:
Accounts payable and accrued expenses

736

479

333

412

1,025

2,317

2,277

820

645

1,402

1,702

1,097

1,218

3,036

1,094

1,165

1,138

1,219

1,329

1,295

2,818

2,239

2,130

1,043

1,202

976

1,013

1,161

1,133

929

372

442

368

508

523

627

Accrued payroll

164

96

99

100

78

-

-

-

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable and accrued interest, net of unamortized debt issuance costs of $3,825,700 and $674,300 at December 31, 2019 and December 31, 2018, respectively

111,638

117,682

123,416

131,230

131,092

-

-

-

145,598

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Derivative liability

1,824

2,334

2,229

941

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Lease liability

336

496

536

573

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Notes payable and accrued interest, net of unamortized debt issuance costs of $1,078,900 and $2,216,000 at September 30, 2018 and December 31, 2017, respectively

-

-

-

-

-

140,247

147,642

133,768

-

154,201

147,433

129,253

125,837

126,613

76,368

99,216

107,621

119,436

124,266

126,105

129,486

108,352

101,457

104,980

77,527

64,532

69,630

67,565

67,865

79,986

82,925

72,196

65,672

64,212

64,008

65,375

Maintenance reserves

4,413

6,034

26,301

25,796

28,527

27,030

30,342

27,113

26,942

29,451

29,089

29,167

29,424

30,570

14,237

14,398

13,230

14,404

16,049

14,407

12,927

13,777

14,221

14,946

16,671

-

-

-

-

-

-

-

-

-

-

-

Accrued maintenance costs

446

466

252

666

463

260

359

294

1,275

332

467

355

965

1,935

1,734

336

382

312

514

1,299

2,115

1,778

709

1,547

1,612

-

-

-

-

-

-

-

-

-

-

-

Security deposits

1,034

1,234

3,052

3,052

3,367

3,367

3,434

-

3,147

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unearned revenues

3,039

3,513

4,107

4,594

3,274

-

-

-

2,447

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Unearned revenues

-

-

-

-

-

4,160

4,764

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Maintenance reserves and accrued maintenance costs

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

12,381

11,453

11,117

15,356

8,539

7,881

6,426

5,814

7,124

8,066

6,861

Security deposits

-

-

-

-

-

-

-

2,968

-

3,818

4,361

4,361

3,933

4,050

2,859

3,212

3,212

4,384

4,484

4,253

5,218

5,579

6,286

7,379

6,265

6,520

6,871

6,591

7,001

6,684

6,521

5,665

5,607

4,964

4,756

4,661

Unearned revenues

-

-

-

-

-

-

-

4,398

-

3,353

4,033

3,832

1,903

2,787

3,400

3,890

1,957

2,939

3,585

3,379

1,642

2,121

2,042

1,950

646

607

606

631

752

647

627

723

558

623

601

577

Deferred income taxes

2,529

4,393

6,686

7,020

7,537

7,159

8,503

8,583

8,533

13,489

13,244

13,145

12,830

12,863

12,620

12,454

12,204

10,408

9,750

9,020

8,621

7,540

12,498

14,727

14,573

16,825

16,222

16,196

14,419

13,661

13,072

12,688

12,094

11,361

11,493

12,766

Income taxes payable

175

172

184

172

497

289

309

556

452

357

293

209

123

41

-

0

0

-

-

0

-

800

159

0

-

4

394

17

19

20

22

24

20

-

-

0

Total liabilities

126,337

136,903

167,199

174,561

175,864

184,831

197,633

178,503

189,043

206,406

200,625

181,422

176,235

181,898

112,315

134,675

139,746

153,106

159,980

159,762

162,829

142,189

139,505

146,576

118,499

101,847

106,193

103,280

106,547

110,468

111,423

98,166

90,135

88,794

89,449

90,870

Commitments and contingencies (Note 11)

-

-

-

-

-

0

0

0

-

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

-

0

0

0

0

0

0

0

-

0

Stockholders' equity:
Preferred stock, $0.001 par value, 2,000,000 shares authorized, no shares issued and outstanding

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

0

Common stock, $0.001 par value, 10,000,000 shares authorized, 1,545,884 outstanding at December 31, 2019 and December 31, 2018, respectively

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

1

Paid-in capital

16,782

16,782

16,782

16,782

16,782

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

14,780

Retained earnings

10,882

17,923

26,154

26,232

27,540

31,374

35,858

35,939

35,621

29,604

29,219

28,864

28,222

28,262

27,733

27,434

27,000

23,925

22,670

21,315

20,563

20,059

28,306

32,227

31,857

36,214

36,555

35,653

31,601

29,811

28,698

27,737

26,412

25,192

25,434

27,863

Accumulated other comprehensive income

-1,370

-1,554

-1,439

-427

0

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Shareholders equity before treasury stock

26,295

33,153

41,500

42,589

44,325

46,155

50,639

50,720

50,403

44,386

44,001

43,645

43,004

43,044

42,514

42,216

41,782

38,707

37,452

36,097

35,345

34,841

43,088

-

46,639

-

-

-

-

-

-

-

-

-

-

-

Shareholders equity before treasury stock

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

47,008

-

50,996

51,337

50,435

46,383

44,592

43,479

42,519

41,194

39,974

40,216

42,644

Treasury stock at cost, 213,332 shares at December 31, 2019 and December 31, 2018

3,037

3,037

3,037

3,037

3,037

3,036

3,036

3,036

3,036

3,036

3,036

3,036

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

504

Total stockholders' equity

23,258

30,116

38,463

39,551

41,287

43,119

47,602

47,684

47,366

41,349

40,964

40,609

42,500

42,540

42,010

41,712

41,278

38,203

36,948

35,593

34,840

34,337

42,584

46,504

46,134

50,492

50,833

49,931

45,879

44,088

42,975

42,015

40,690

39,469

39,712

42,140

Total liabilities and stockholders' equity

149,595

167,020

205,662

214,113

217,152

227,951

245,236

226,187

236,409

247,755

241,590

222,031

218,736

224,439

154,326

176,387

181,025

191,310

196,929

195,355

197,670

176,526

182,089

193,081

164,634

152,340

157,026

153,212

152,426

154,557

154,398

140,181

130,826

128,264

129,161

133,011