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Consolidated Statements of Operations - USD ($)
12 Months Ended
Dec. 31, 2022
Dec. 31, 2021
REVENUE    
Lease income from direct financing lease – railroad $ 915,000 $ 915,000
Rental income 7,023,548 6,813,237
Rental income - related parties 578,991 722,126
Other income 181 7,551
TOTAL REVENUE 8,517,720 8,457,914
EXPENSES    
Amortization of intangible assets 371,804 399,733
General and administrative 1,518,884 880,863
Property maintenance 516,012
Property taxes 362,008 25,912
Depreciation expense 1,505,470 867,031
Impairment expense 16,739,040
Interest expense 1,757,985 1,139,885
TOTAL EXPENSES 22,771,203 3,313,424
NET (LOSS) / INCOME (14,253,483) 5,144,490
Preferred Stock Dividends (652,827) (652,834)
NET (LOSS) / INCOME ATTRIBUTABLE TO COMMON SHAREHOLDERS $ (14,906,310) $ 4,491,656
Income (Loss) Per Common Share:    
Basic $ (4.41) $ 1.41
Diluted $ (4.41) $ 1.38
Weighted Average Number of Shares Outstanding:    
Basic 3,377,676 3,178,215
Diluted 3,377,676 3,264,805
Cash dividend per Series A Preferred Share: $ 1.45 $ 1.94
Accumulated dividend accrued per Series A Preferred Share: $ 0.48