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CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Cash flows from operating activities    
Net income $ 992,541 $ 283,207
Adjustments to reconcile net income to net cash provided by operating activities    
Depreciation and amortization 406,841 404,921
Unrealized (gain) loss on marketable equity securities (362,050) 225,751
Unrealized loss (gain) on interest rate cap premium 24,244 (37,552)
Amortization of loan procurement costs 34,794 35,079
Stock-based compensation 37,787 52,604
Changes in operating assets and liabilities:    
Accounts receivable 6,720 1,060
Prepaid expenses and other assets (55,679) 42,510
Accounts payable and accrued expenses (81,453) 99,474
Net cash provided by operating activities 1,003,745 1,107,054
Cash flows from investing activities    
Improvements and equipment additions (109,609) (29,490)
Net cash used in investing activities (109,609) (29,490)
Cash flows from financing activities    
Principal payments on note payable (137,015) (131,401)
Dividends paid (803,855) (699,363)
Issuance of common stock, net of expenses   198,370
Net cash used in financing activities (940,870) (632,394)
Net (decrease) increase in cash, cash equivalents, and restricted cash (46,734) 445,170
Cash, cash equivalents, and restricted cash, beginning of period 6,515,007 3,063,699
Cash, cash equivalents, and restricted cash, end of period 6,468,273 3,508,869
Supplemental cash flow and noncash information    
Cash paid for interest 186,082 191,697
Supplemental disclosure of noncash activities:    
Dividends payable $ 1,373 $ 976