Members' Equity

9 Months Ended

Sep. 30, 2022

Disclosure Text Block Supplement [Abstract]

Members' Equity Notes Disclosure [Text Block]

(6)  Members’ Equity –

For the nine months ended September 30, 2022 and 2021, the Company declared distributions of $4,779,888 and $280,205, respectively. The Limited Members were allocated distributions of $4,727,400 and $271,799 and the Managing Members were allocated distributions of $52,488 and $8,406 for the periods, respectively. The Limited Members' distributions represented $2.83 and $0.16 per LLC Unit outstanding using 1,672,887 and 1,698,297 weighted average Units in 2022 and 2021, respectively. The distributions represented $1.22 and $0.04 per Unit of Net Income and $1.61 and $0.12 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.