Members' Equity

12 Months Ended

Dec. 31, 2021

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(6)  Members’ Equity –

For the years ended December 31, 2021 and 2020, the Company declared distributions of $2,393,295 and $377,729. The Limited Members received distributions of $2,361,900 and $366,397 and the Managing Members received distributions of $31,395 and $11,332 for the years, respectively. The Limited Members' distributions represented $1.39 and $0.21 per LLC Unit outstanding using 1,693,334 and 1,738,006 weighted average Units in both years. The distributions represented $.18 and $0 per Unit of Net Income and $1.21 and $0.21 per Unit of return of contributed capital in 2021 and 2020, respectively.

As part of the distributions discussed above, the Company distributed net sale proceeds of $2,020,202 in 2021. The Limited Members received distributions of $2,000,000 and the Managing Members received distributions of $20,202. The Limited Members’ distributions represented $1.19 per Unit for the year.

The Company may repurchase Units from Limited Members who have tendered their Units to the Company. Such Units may be acquired at a discount. The Company will not be obligated to purchase in any year more than 2% of the total number of Units outstanding on January 1 of such year. In no event shall the Company be obligated to purchase Units if, in the sole discretion of the Managing Member, such purchase would impair the capital or operation of the Company On April 1, 2021, the Company repurchased a total of 59,562.8 Units for $305,367 from eight Limited Partners in accordance with the Operating Agreement. The Company acquired these Units using Net Cash Flow from operations. During 2020, the Company did not repurchase any Units from the Limited Members.