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Quarterly Operating Results - Unaudited (Tables)
12 Months Ended
Dec. 31, 2022
Quarterly Financial Information Disclosure [Abstract]  
Quarterly Operating Results

 

 

Quarters Ended 2022

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Total revenue

 

$

38,352,603

 

 

$

47,170,259

 

 

$

39,212,695

 

 

$

41,341,747

 

Total operating expenses

 

 

34,427,399

 

 

 

38,970,971

 

 

 

35,923,699

 

 

 

36,200,422

 

Net operating income

 

 

3,925,204

 

 

 

8,199,288

 

 

 

3,288,996

 

 

 

5,141,325

 

Net income (loss)

 

 

(810,944

)

 

 

27,605,359

 

 

 

1,972,563

 

 

 

5,192,870

 

Net income (loss) attributable to common shareholders

 

 

(2,507,765

)

 

 

24,269,449

 

 

 

112,680

 

 

 

3,092,456

 

Income (loss) per share attributable to common
   shareholders– basic

 

$

(0.15

)

 

$

1.36

 

 

$

0.01

 

 

$

0.18

 

Income (loss) per share attributable to common
   shareholders– diluted

 

$

(0.15

)

 

$

1.36

 

 

$

0.01

 

 

$

0.18

 

Net income (loss) available to operating partnership unitholders

 

 

(2,669,386

)

 

 

25,799,389

 

 

 

61,586

 

 

 

3,198,559

 

Income (loss) per unit attributable to operating partnership unitholders– basic

 

$

(0.14

)

 

$

1.33

 

 

$

0.00

 

 

$

0.17

 

Income (loss) per unit attributable to operating partnership unitholders– diluted

 

$

(0.14

)

 

$

1.33

 

 

$

0.00

 

 

$

0.17

 

 

 

 

 

Quarters Ended 2021

 

 

 

March 31

 

 

June 30

 

 

September 30

 

 

December 31

 

Total revenue

 

$

22,635,532

 

 

$

34,383,309

 

 

$

35,493,126

 

 

$

35,075,957

 

Total operating expenses

 

 

24,717,808

 

 

 

31,240,158

 

 

 

32,706,524

 

 

 

46,978,440

 

Net operating income (loss)

 

 

(2,082,276

)

 

 

3,143,151

 

 

 

2,786,602

 

 

 

(11,902,483

)

Net loss

 

 

(7,575,624

)

 

 

(1,553,970

)

 

 

(2,528,221

)

 

 

(16,881,825

)

Net loss attributable to common shareholders

 

 

(9,064,995

)

 

 

(2,810,603

)

 

 

(4,317,081

)

 

 

(17,209,210

)

Loss per share attributable to common shareholders– basic and diluted

 

$

(0.62

)

 

$

(0.19

)

 

$

(0.27

)

 

$

(1.05

)

Net loss available to operating partnership unitholders

 

 

(9,764,534

)

 

 

(2,990,241

)

 

 

(4,607,249

)

 

 

(18,358,031

)

Loss per unit attributable to operating partnership unitholders– basic and diluted

 

$

(0.60

)

 

$

(0.18

)

 

$

(0.26

)

 

$

(1.02

)