v2.4.0.6

Consolidated Balance Sheets (USD $)	Jun. 30, 2012	Dec. 31, 2011
Current Assets
Cash	$ 3,839	$ 6,078
Prepaid legal fees and escrow funds	4,253	126,582
Total Current Assets	8,092	132,660
Land and buildings, net of accumulated depreciation of $227,422 and $213,295, respectively	837,265	851,392
Intangibles		622
Other assets	2,300	2,300
Total Assets	847,657	986,974
Current Liabilities
Current portion of mortgage notes payable	20,033	12,280
Accounts payable	50,000
Line of credit	5,448	5,115
Loans from officers	41,076	16,076
Accrued officer compensation	84,000	84,000
Accrued interest	10,777	10,819
State tax payable	100	100
Total Current Liabilities	211,434	128,390
Other Liabilities
Mortgage notes payable	840,678	858,030
Acquisition note payable to stockholders	800,000	800,000
Tenant deposits	10,008	10,008
Total Liabilities	1,862,120	1,796,428
Stockholders' Deficiency
Preferred stock, $0.0001 par value, 100,000,000 sharesauthorized; 100,000 shares issued and outstanding, respectively	10	10
Common stock, $0.001 par value, 400,000,000 shares authorized; 64,525,000 shares issued and outstanding, respectively	64,525	64,525
Additional paid-in capital	(629,535)	(629,535)
Accumulated deficit	(449,463)	(244,454)
Total Stockholders' Deficiency	(1,014,463)	(809,454)
Total Liabilities and Stockholders' Deficiency	$ 847,657	$ 986,974

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

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Immobiliare Global Investments, Inc. 10-Q