we also acquire high technology medical , telecommunications and inventory management equipment . our general partner seeks to maintain an appropriate balance and diversity in the types of equipment acquired . the market for high technology medical equipment is growing each year . generally , this type of equipment has a longer useful life . this allows for increased re-marketability , if it is returned before its economic or announcement cycle is depleted . the equipment leasing and finance association 's ( elfa ) monthly leasing and finance index ( mlfi-25 ) , which reports economic activity from 25 companies representing a cross section of the $ 900 billion equipment finance sector , showed their overall new business volume for december 2020 was $ 12.1 billion , down 6 % year-over-year from new business volume in december 2019. volume was up 66 % month-to-month from $ 7.3 billion in november 2020 , in a typical end-of-year spike . cumulative new business volume for 2020 was down almost 6 % compared to 2019. receivables over 30 days were 2.20 % , down from 2.30 % the previous month and unchanged from the same period in 2019. charge-offs were 0.59 % , down from 0.61 % the previous month and up from 0.51 % in the year-earlier period . credit approvals totaled 75.2 % , up from 70.4 % in november . total headcount for equipment finance companies was down 4.6 % year-over-year . separately , the equipment leasing & finance foundation 's monthly confidence index ( mci-efi ) in january is 59.6 , unchanged from the december index . elfa president and ceo ralph petta said , “ while 2020 certainly presented serious challenges to our nation 's economic well-being as well as to the physical well-being of many of our citizens , the equipment finance business , overall , showed remarkable resilience and durability . in early 2020 , our industry seemed poised to continue 2019 's strong performance , as measured by a variety of key metrics . then , the pandemic hit . our nation suffered a shock of unimaginable and historic proportions . the economy faltered , millions of americans lost their jobs , and a raging health pandemic threatened the very lives of so many . now , looking in the rearview mirror , at the start of a new year that brings such hope and promise—with new stimulus initiatives coming out of washington and distribution of a vaccine designed to protect our people—most equipment finance sector observers would consider a single-digit decline in year-over-year new business volume tolerable , if not acceptable . in fact , anecdotal reports from some elfa member organizations indicate that 2020 was a record year ! this speaks to the strength and resilience of our industry as it equips american businesses to succeed and prosper . ” walter rabin , chief executive officer , signature financial llc , said , “ the new year provides a chance to reflect upon 2020 's unprecedented events and look forward to opportunities ahead . while the health and safety of our colleagues and clients remained paramount as the pandemic surged , signature financial continued its growth trajectory , exceeding $ 5 billion in its portfolio at year-end . as demonstrated by the mlfi-25 showing only a 6 percent decrease in year-over-year volume , the industry remained resilient in generating capital essential to sustain the u.s. economy amid the pandemic-affected economy . with rollout of the covid-19 vaccine now accelerating and additional stimulus in the near-term , we anticipate 2021 offering new business growth opportunities and improved confidence . ” our business is directly impacted by factors such as economic , political , and market conditions , broad trends in industry and finance , legislative and regulatory changes , changes in government monetary and fiscal policies , and inflation , all of which are beyond our control . given these circumstances , we believe companies overall , will continue to increasingly turn to leasing , as a financing solution . it is our belief that companies lease business-essential equipment because leasing can provide many benefits to a company . the number one benefit of leasing that we see is that there is no large outlay of cash required . therefore , companies can preserve their working capital , lease equipment , which is an expense item , have the flexibility to upgrade the equipment when needed , and have no risk of obsolescence . because we expect leasing to remain an attractive financing solution for american businesses during the next 12 months , we feel that our ability to increase our portfolio size and leasing revenues during that period will remain strong . we , at commonwealth , are currently operating business as usual ( with our employees working remotely ) . we may see a slowdown on new equipment acquisition decisions from corporate lessees until the crisis is resolved and businesses can resume their normal operation . we have no way of knowing what this period of time will be . we will keep our investors informed of subsequent events . for information relating to covid-19 and the overall effects , as expressed by ralph petta , president of elfa ( the equipment leasing & finance association ) , please refer to elfaonline.org . critical accounting policies and use of estimates our management 's discussion and analysis of our financial condition and results of operations is based upon our financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states . the preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses . story_separator_special_tag 19 lease income receivable lease income receivable includes current lease income receivable net of allowances for uncollectible amounts , if any . the partnership monitors lease income receivable to ensure timely and accurate payment by lessees . the partnership 's lease relations department is responsible for monitoring lease income receivable and , as necessary , resolving outstanding invoices . the partnership reviews a customer 's credit history before extending credit . when the analysis indicates that the probability of full collection is unlikely , the partnership may establish an allowance for uncollectible lease income receivable based upon the credit risk of specific customers , historical trends and other information . the partnership writes off its lease income receivable when it determines that it is uncollectible and all economically sensible means of recovery have been exhausted . recent accounting pronouncements information regarding recent accounting pronouncements is included in note 2 to the financial statements , summary of significant accounting policies , as set forth in part ii , item 8 , financial statements and supplementary data . story_separator_special_tag text-indent : 0px `` > our cash flow from operations is expected to continue to be adequate to cover all operating expenses , liabilities , and distributions to limited partners during the next 12-month period . if available cash flow or net disposition proceeds are insufficient to cover our expenses and liabilities on a short and long term basis , we will attempt to obtain additional funds by disposing of or refinancing equipment , or by borrowing within its permissible limits . we may also reduce the distributions to limited partners if our management deems it necessary . on august 13 , 2015 , the partnership purchased 1,648 units for $ 1,500,000 , of commonwealth opportunity fund 2 ( “ cof 2 ” ) , an affiliate fund of the general partner . in accordance with the partnership agreement , the partnership is permitted to invest in equipment programs formed by the general partner or its affiliates . cof 2 is an affiliate program that broke escrow on august 13 , 2015. the general partner believes this action is in the best interests of all the programs . the partnership accounts for its investment in cof 2 under the equity method in accordance with asc 323. the partnership 's net investment in cof 2 at december 31 , 2020 and 2019 was approximately $ 617,000 and $ 586,000 , respectively . for the year ended december 31 , 2020 , cof 2 declared distributions to the partnership of approximately $ 0 of which approximately $ 0 was paid in 2020 and approximately $ 0 is recorded as a receivable from cof 2 at december 31 , 2020 . 21 results from operations for the year ended december 31 , 2020 , we recognized revenue of approximately $ 1,939,000 , expenses of approximately $ 2,480,000 and other gain of approximately $ 31,000 , resulted in a net loss of approximately $ 510,000. for the year ended december 31 , 2019 , we recognized revenue of approximately $ 2,281,000 , expenses of approximately $ 2,798,000 and other loss of approximately $ 184,000 , resulted in a net loss of approximately $ 701,000 . the reduction in net loss is primarily due to more leases were expiring than new leases acquiring as well as an overall reduction in expenses including but not limited to , depreciation and amortization expense , equipment management fees and legal fees , partially offset by a decline in overall revenue . the partnership had 58 active operating leases that generated lease revenue of approximately $ 1,798,000 for the year ended december 31 , 2020 and had 68 active operating leases that generated lease revenue of approximately $ 2,006,000 for the year ended december 31 , 2019. management expects to add new leases to partnership 's portfolio throughout 2021 , primarily through debt refinancing . the partnership is continuously monitoring its lessee concentration to potentially reduce the risk associated with a high concentration of activity in a few lessees . the partnership 's equipment portfolio consists of approximately 37 % high end servers , 29 % desk and lap tops , 12 % servers\other , 11 % digital storage , 6 % multifunction centers , 2 % inventory control systems\printers , 2 % high volume & spec printers and 1 % manufacturing equipment . the general partner continuously monitors and seeks to decrease the concentration of equipment by type to diversify the equipment portfolio and potentially reduce the overall risk to the investor . for the year ended december 31 , 2020 , the partnership had a total of four lessees that accounted for lease revenue of 10 % or greater which are as follows : 38 % , 24 % , 16 % and 13 % . for the year ended december 31 , 2019 , the partnership had a total of four lessees that accounted for lease revenue of 10 % or greater which are as follows : 34 % , 22 % , 20 % and 14 % . for the years ended december 31 , 2020 and 2019 , operating expenses , excluding depreciation and amortization , consisted of accounting , legal , outside service fees , reimbursement of expenses to ccc and other lp charges from ccc for administration and operations as discussed in note 6 of the financial statements . operating expenses were approximately $ 802,000 and $ 814,000 in 2020 and 2019 , respectively . this decline is primarily due to a reduction of general expenses , including rent and administrative employees , decreases in “ other lp ” expenses charged by ccc for the administration of the partnership by approximately $ 52,000 and conferences expenses of approximately $ 14,000 , which was partially offset by increases in accounting and legal fees of approximately $ 53,000. we pay an equipment management fee to our general partner for managing our equipment portfolio . the equipment management

liquidity and capital resources our primary sources of cash for the year ended december 31 , 2020 , were cash provided by operating activities of approximately $ 6,000 , net proceeds from the sale of equipment of approximately $ 228,000 , and distributions from investment in cof 2 of approximately $ 4,000. our primary sources of cash for the year ended december 31 , 2019 , were cash provided by operating activities of approximately $ 21,000 , net proceeds from the sale of equipment of approximately $ 88,000 , and distributions from investment in cof 2 of approximately $ 29,000. our primary uses of cash for the year ended december 31 , 2020 were for capital expenditures of approximately $ 228,000 , limited partner redemptions of approximately $ 35,000 , equipment acquisition fees paid to the general partner of approximately $ 18,000 and debt placement fees paid the the general partner of approximately $ 2,000. our primary uses of cash for the year ended december 31 , 2019 were for distributions to partners of approximately $ 386,000 , limited partner redemptions of approximately $ 7,000 , purchase of finance leases of approximately $ 55,000 and equipment acquisition fees paid to the general partner of approximately $ 2,000 .


 Write a concise suspicious activity report of the following text delimited by triple backquotes. Return your response as a formal report which covers the key points highlighting the location,dates,entity names and account holder information in chronological order of the text.
     ```liquidity and capital resources our primary sources of cash for the year ended december 31 , 2020 , were cash provided by operating activities of approximately $ 6,000 , net proceeds from the sale of equipment of approximately $ 228,000 , and distributions from investment in cof 2 of approximately $ 4,000. our primary sources of cash for the year ended december 31 , 2019 , were cash provided by operating activities of approximately $ 21,000 , net proceeds from the sale of equipment of approximately $ 88,000 , and distributions from investment in cof 2 of approximately $ 29,000. our primary uses of cash for the year ended december 31 , 2020 were for capital expenditures of approximately $ 228,000 , limited partner redemptions of approximately $ 35,000 , equipment acquisition fees paid to the general partner of approximately $ 18,000 and debt placement fees paid the the general partner of approximately $ 2,000. our primary uses of cash for the year ended december 31 , 2019 were for distributions to partners of approximately $ 386,000 , limited partner redemptions of approximately $ 7,000 , purchase of finance leases of approximately $ 55,000 and equipment acquisition fees paid to the general partner of approximately $ 2,000 .
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 Suspicious Activity Report : we also acquire high technology medical , telecommunications and inventory management equipment . our general partner seeks to maintain an appropriate balance and diversity in the types of equipment acquired . the market for high technology medical equipment is growing each year . generally , this type of equipment has a longer useful life . this allows for increased re-marketability , if it is returned before its economic or announcement cycle is depleted . the equipment leasing and finance association 's ( elfa ) monthly leasing and finance index ( mlfi-25 ) , which reports economic activity from 25 companies representing a cross section of the $ 900 billion equipment finance sector , showed their overall new business volume for december 2020 was $ 12.1 billion , down 6 % year-over-year from new business volume in december 2019. volume was up 66 % month-to-month from $ 7.3 billion in november 2020 , in a typical end-of-year spike . cumulative new business volume for 2020 was down almost 6 % compared to 2019. receivables over 30 days were 2.20 % , down from 2.30 % the previous month and unchanged from the same period in 2019. charge-offs were 0.59 % , down from 0.61 % the previous month and up from 0.51 % in the year-earlier period . credit approvals totaled 75.2 % , up from 70.4 % in november . total headcount for equipment finance companies was down 4.6 % year-over-year . separately , the equipment leasing & finance foundation 's monthly confidence index ( mci-efi ) in january is 59.6 , unchanged from the december index . elfa president and ceo ralph petta said , “ while 2020 certainly presented serious challenges to our nation 's economic well-being as well as to the physical well-being of many of our citizens , the equipment finance business , overall , showed remarkable resilience and durability . in early 2020 , our industry seemed poised to continue 2019 's strong performance , as measured by a variety of key metrics . then , the pandemic hit . our nation suffered a shock of unimaginable and historic proportions . the economy faltered , millions of americans lost their jobs , and a raging health pandemic threatened the very lives of so many . now , looking in the rearview mirror , at the start of a new year that brings such hope and promise—with new stimulus initiatives coming out of washington and distribution of a vaccine designed to protect our people—most equipment finance sector observers would consider a single-digit decline in year-over-year new business volume tolerable , if not acceptable . in fact , anecdotal reports from some elfa member organizations indicate that 2020 was a record year ! this speaks to the strength and resilience of our industry as it equips american businesses to succeed and prosper . ” walter rabin , chief executive officer , signature financial llc , said , “ the new year provides a chance to reflect upon 2020 's unprecedented events and look forward to opportunities ahead . while the health and safety of our colleagues and clients remained paramount as the pandemic surged , signature financial continued its growth trajectory , exceeding $ 5 billion in its portfolio at year-end . as demonstrated by the mlfi-25 showing only a 6 percent decrease in year-over-year volume , the industry remained resilient in generating capital essential to sustain the u.s. economy amid the pandemic-affected economy . with rollout of the covid-19 vaccine now accelerating and additional stimulus in the near-term , we anticipate 2021 offering new business growth opportunities and improved confidence . ” our business is directly impacted by factors such as economic , political , and market conditions , broad trends in industry and finance , legislative and regulatory changes , changes in government monetary and fiscal policies , and inflation , all of which are beyond our control . given these circumstances , we believe companies overall , will continue to increasingly turn to leasing , as a financing solution . it is our belief that companies lease business-essential equipment because leasing can provide many benefits to a company . the number one benefit of leasing that we see is that there is no large outlay of cash required . therefore , companies can preserve their working capital , lease equipment , which is an expense item , have the flexibility to upgrade the equipment when needed , and have no risk of obsolescence . because we expect leasing to remain an attractive financing solution for american businesses during the next 12 months , we feel that our ability to increase our portfolio size and leasing revenues during that period will remain strong . we , at commonwealth , are currently operating business as usual ( with our employees working remotely ) . we may see a slowdown on new equipment acquisition decisions from corporate lessees until the crisis is resolved and businesses can resume their normal operation . we have no way of knowing what this period of time will be . we will keep our investors informed of subsequent events . for information relating to covid-19 and the overall effects , as expressed by ralph petta , president of elfa ( the equipment leasing & finance association ) , please refer to elfaonline.org . critical accounting policies and use of estimates our management 's discussion and analysis of our financial condition and results of operations is based upon our financial statements , which have been prepared in accordance with accounting principles generally accepted in the united states . the preparation of these financial statements requires management to make estimates and judgments that affect the reported amounts of assets , liabilities , revenues and expenses . story_separator_special_tag 19 lease income receivable lease income receivable includes current lease income receivable net of allowances for uncollectible amounts , if any . the partnership monitors lease income receivable to ensure timely and accurate payment by lessees . the partnership 's lease relations department is responsible for monitoring lease income receivable and , as necessary , resolving outstanding invoices . the partnership reviews a customer 's credit history before extending credit . when the analysis indicates that the probability of full collection is unlikely , the partnership may establish an allowance for uncollectible lease income receivable based upon the credit risk of specific customers , historical trends and other information . the partnership writes off its lease income receivable when it determines that it is uncollectible and all economically sensible means of recovery have been exhausted . recent accounting pronouncements information regarding recent accounting pronouncements is included in note 2 to the financial statements , summary of significant accounting policies , as set forth in part ii , item 8 , financial statements and supplementary data . story_separator_special_tag text-indent : 0px `` > our cash flow from operations is expected to continue to be adequate to cover all operating expenses , liabilities , and distributions to limited partners during the next 12-month period . if available cash flow or net disposition proceeds are insufficient to cover our expenses and liabilities on a short and long term basis , we will attempt to obtain additional funds by disposing of or refinancing equipment , or by borrowing within its permissible limits . we may also reduce the distributions to limited partners if our management deems it necessary . on august 13 , 2015 , the partnership purchased 1,648 units for $ 1,500,000 , of commonwealth opportunity fund 2 ( “ cof 2 ” ) , an affiliate fund of the general partner . in accordance with the partnership agreement , the partnership is permitted to invest in equipment programs formed by the general partner or its affiliates . cof 2 is an affiliate program that broke escrow on august 13 , 2015. the general partner believes this action is in the best interests of all the programs . the partnership accounts for its investment in cof 2 under the equity method in accordance with asc 323. the partnership 's net investment in cof 2 at december 31 , 2020 and 2019 was approximately $ 617,000 and $ 586,000 , respectively . for the year ended december 31 , 2020 , cof 2 declared distributions to the partnership of approximately $ 0 of which approximately $ 0 was paid in 2020 and approximately $ 0 is recorded as a receivable from cof 2 at december 31 , 2020 . 21 results from operations for the year ended december 31 , 2020 , we recognized revenue of approximately $ 1,939,000 , expenses of approximately $ 2,480,000 and other gain of approximately $ 31,000 , resulted in a net loss of approximately $ 510,000. for the year ended december 31 , 2019 , we recognized revenue of approximately $ 2,281,000 , expenses of approximately $ 2,798,000 and other loss of approximately $ 184,000 , resulted in a net loss of approximately $ 701,000 . the reduction in net loss is primarily due to more leases were expiring than new leases acquiring as well as an overall reduction in expenses including but not limited to , depreciation and amortization expense , equipment management fees and legal fees , partially offset by a decline in overall revenue . the partnership had 58 active operating leases that generated lease revenue of approximately $ 1,798,000 for the year ended december 31 , 2020 and had 68 active operating leases that generated lease revenue of approximately $ 2,006,000 for the year ended december 31 , 2019. management expects to add new leases to partnership 's portfolio throughout 2021 , primarily through debt refinancing . the partnership is continuously monitoring its lessee concentration to potentially reduce the risk associated with a high concentration of activity in a few lessees . the partnership 's equipment portfolio consists of approximately 37 % high end servers , 29 % desk and lap tops , 12 % servers\other , 11 % digital storage , 6 % multifunction centers , 2 % inventory control systems\printers , 2 % high volume & spec printers and 1 % manufacturing equipment . the general partner continuously monitors and seeks to decrease the concentration of equipment by type to diversify the equipment portfolio and potentially reduce the overall risk to the investor . for the year ended december 31 , 2020 , the partnership had a total of four lessees that accounted for lease revenue of 10 % or greater which are as follows : 38 % , 24 % , 16 % and 13 % . for the year ended december 31 , 2019 , the partnership had a total of four lessees that accounted for lease revenue of 10 % or greater which are as follows : 34 % , 22 % , 20 % and 14 % . for the years ended december 31 , 2020 and 2019 , operating expenses , excluding depreciation and amortization , consisted of accounting , legal , outside service fees , reimbursement of expenses to ccc and other lp charges from ccc for administration and operations as discussed in note 6 of the financial statements . operating expenses were approximately $ 802,000 and $ 814,000 in 2020 and 2019 , respectively . this decline is primarily due to a reduction of general expenses , including rent and administrative employees , decreases in “ other lp ” expenses charged by ccc for the administration of the partnership by approximately $ 52,000 and conferences expenses of approximately $ 14,000 , which was partially offset by increases in accounting and legal fees of approximately $ 53,000. we pay an equipment management fee to our general partner for managing our equipment portfolio . the equipment management

