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Consolidated Balance Sheets - USD ($)
Dec. 31, 2022
Dec. 31, 2021
ASSETS    
Land $ 7,826,135 $ 7,820,115
Greenhouse cultivation and processing facilities, net of accumulated depreciation 46,577,077 29,508,012
Greenhouse cultivation and processing facilities - construction in progress 11,150,155
Net investment in direct financing lease - railroad 9,150,000 9,150,000
Total real estate assets 63,553,212 57,628,282
Cash and cash equivalents 2,847,871 3,171,301
Restricted cash 1,000,000
Accounts receivable 62,198
Prepaid expenses and deposits 6,580 493,196
Intangible lease asset, net of accumulated amortization 2,731,909 2,959,397
Deferred debt issuance cost, net of amortization 46,023 274,003
Deferred rent receivable 445,058 1,306,281
Assets held for sale 15,504,072 19,435,730
Other assets 50,000
TOTAL ASSETS 86,196,923 85,318,190
LIABILITIES AND EQUITY    
Accounts payable 1,416,085 18,173
Accrued property tax 396,904
Accrued interest 153,317 76,600
Deferred rent liability 861,916
Tenant security deposits 924,724 1,840,206
Liabilities held for sale 717,988 1,013,059
Current portion of long-term debt, net of unamortized discount 1,119,821 641,238
Long-term debt, net of unamortized discount 37,217,841 22,555,911
TOTAL LIABILITIES 41,946,680 27,007,103
Series A 7.75% Cumulative Redeemable Perpetual Preferred Stock Par Value $25.00 (1,675,000 shares authorized; 336,944 issued and outstanding as of December 31, 2022 and December 31, 2021) 8,653,159 8,489,952
Equity:    
Common Shares, $0.001 par value (98,325,000 shares authorized;  3,389,661 shares issued and outstanding as of December 31, 2022 and 3,367,561 shares issued and outstanding as of December 31, 2021) 3,389 3,367
Additional paid-in capital 46,369,311 45,687,074
Retained earnings (accumulated deficit) (10,775,616) 4,130,694
Total Equity 35,597,084 49,821,135
TOTAL LIABILITIES AND EQUITY $ 86,196,923 $ 85,318,190