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Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Land $ 5,536,596 $ 5,604,097
Greenhouse cultivation and processing facilities, net of accumulated depreciation 8,756,162 12,901,450
Net investment in direct financing lease - railroad 9,150,000 9,150,000
Total real estate assets 23,442,758 27,655,547
Cash and cash equivalents 2,455,133 2,202,632
Restricted cash 480,495 1,902,252
Prepaid expenses and deposits 707,298 223,250
Intangible lease asset, net of accumulated amortization 2,390,677 2,504,421
Deferred rent receivable 493,396 438,994
Mortgage loan receivables 1,945,000 850,000
Assets held for sale 17,812,866 34,363,172
Other assets 61,864 69,972
TOTAL ASSETS 49,789,487 70,210,240
LIABILITIES AND EQUITY    
Accounts payable 88,318 58,773
Accrued expenses 389,487 770,472
Tenant security deposits 96,724 96,724
Prepaid rent 3,000
Other liabilities 137,375 57,675
Liabilities held for sale 2,291,725 2,727,051
Current portion of long-term debt, net of unamortized discount 16,446,914 15,043,632
Long-term debt, net of unamortized discount 20,383,916 20,682,869
TOTAL LIABILITIES 39,834,459 39,440,196
Equity:    
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 June 30, 2024 and December 31, 2023) 8,489,952 8,489,952
Common Shares, $0.001 par value (98,325,000 shares authorized; 3,389,661 shares issued and outstanding as of June 30, 2024 and December 31, 2023) 3,389 3,389
Additional paid-in capital 47,661,776 47,254,625
Accumulated deficit (46,200,089) (24,977,922)
Total Equity 9,955,028 30,770,044
TOTAL LIABILITIES AND EQUITY $ 49,789,487 $ 70,210,240