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Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUE        
Lease income from capital lease - railroad, net $ 228,750 $ 228,750 $ 686,250 $ 686,250
Rental income 262,851 262,851 787,279 565,229
Misc. Income 9 22 4,976 68
TOTAL REVENUE 491,610 491,623 1,478,505 1,251,547
EXPENSES        
Amortization of intangible assets 59,285 59,285 177,856 112,773
General and administrative 38,992 44,962 156,326 213,608
Stock-based compensation 46,544 53,983 150,448 129,515
Property Tax $ 5,472 $ 1,350 16,397 17,242
Property acquisition expenses (1,105) 364,920
Litigation expenses (see note 5) $ 117,586 $ 343,586 241,538 605,005
Unrealized loss on interest rate swap 250,066 60,486 189,111 273,517
Interest expense 159,301 230,769 873,332 481,167
TOTAL EXPENSES 677,246 794,421 1,803,903 2,197,747
NET LOSS (185,636) (302,798) (325,398) (946,200)
Preferred Stock Dividends 69,968 62,888 209,903 123,916
NET LOSS ATTRIBUTABLE TO COMMON SHARES $ (255,604) $ (365,686) $ (535,301) $ (1,070,116)
Loss Per Common Share:        
Basic and diluted $ (0.15) $ (0.21) $ (0.31) $ (0.63)
Weighted Average Number of Shares Outstanding:        
Basic and diluted 1,734,210 1,731,788 1,732,595 1,692,719
Cash dividend per Series A Preferred Share $ 0.48 $ 0.48 $ 1.45 $ 0.96