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Consolidated Balance Sheets - USD ($)
Dec. 31, 2021
Dec. 31, 2020
ASSETS    
Cash $ 1,191,940 $ 699,335
Accounts receivable 7,909 4,988
Deferred rent receivable 164,770 173,757
Rental properties, net 6,441,465 7,027,436
Prepaid expenses and other assets 32,350 104,062
Convertible note receivable 200,000 100,000
Property and equipment, net 13,918 17,059
Intangible asset, net 9,450
Investment in unconsolidated joint ventures 74,554
Security deposits 1,100 1,100
Total Assets 8,137,456 8,127,737
LIABILITIES:    
Convertible note payable 2,000,000 2,000,000
Convertible note payable - related party 20,000 20,000
Accounts payable 11,244
Accrued expenses 108,364 92,750
Accrued interest - related party 5,400 4,200
Deferred revenues 4,750 3,250
Security deposits payable 71,800 71,800
Total Liabilities 2,221,558 2,192,000
Commitments and Contingencies (Note 11)
STOCKHOLDERS’ EQUITY:    
Preferred stock, $0.001 par value, 5,000,000 shares authorized; 2,000,000 shares issued and outstanding at December 31, 2021 and 2020 ($1.00 per share liquidation preference or $2,000,000) 2,000 2,000
Common stock: $0.001 par value, 100,000,000 shares authorized; 12,201,548 and 12,011,548 issued and outstanding at December 31, 2021 and 2020, respectively 12,202 12,012
Additional paid-in capital 21,000,563 20,854,773
Accumulated deficit (15,098,867) (14,933,048)
Total Stockholders’ Equity 5,915,898 5,935,737
Total Liabilities and Stockholders’ Equity $ 8,137,456 $ 8,127,737