Members' Equity

6 Months Ended

Jun. 30, 2022

Disclosure Text Block Supplement [Abstract]

Members' Equity Notes Disclosure [Text Block]

(6)  Members’ Equity –

For the six months ended June 30, 2022 and 2021, the Company declared distributions of $4,720,713 and $187,319, respectively. The Limited Members were allocated distributions of $4,670,000 and $181,700 and the Managing Members were allocated distributions of $50,713 and $5,619 for the periods, respectively. The Limited Members' distributions represented $2.79 and $0.11 per LLC Unit outstanding using 1,674,277 and 1,708,225 weighted average Units in 2022 and 2021, respectively. The distributions represented $1.23 and $0.03 per Unit of Net Income and $1.56 and $0.08 per Unit of return of contributed capital in 2022 and 2021, respectively.

On April 1, 2022, the Company repurchased a total of 8,332.87 Units for $46,534 from five Limited Members in accordance with the Operating Agreement. The Company acquired these Units using net sales proceeds. On April 1, 2021, the Company repurchased a total of 59,562.8 Units for $305,367 from eight Limited Members. The Company acquired these Units using net sales proceeds.  The repurchases increase the remaining Limited Members’ ownership interest in the Company. As a result of these repurchases and pursuant to the Operating Agreement, the Managing Members received distributions of $1,439 and $9,444 in 2022 and 2021, respectively.