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Consolidated Statements of Changes in Equity - USD ($)
Total
Total Stockholders' Equity
Preferred Stock
Common Stock
Additional Paid in Capital
Cumulative Distributions to Stockholders
Accumulated Earnings
Noncontrolling interests
Balance (in shares) at Dec. 31, 2019     0 23,692,164        
Balance at Dec. 31, 2019 $ 108,644,712 $ 108,545,212 $ 0 $ 236,877 $ 228,135,116 $ (122,236,981) $ 2,410,200 $ 99,500
Issuance of common stock (in shares)       1,251,219        
Issuance of common stock 5,762,360 5,762,360   $ 12,512 5,749,848      
Cost of issuing common stock (40,000) (40,000)     (40,000)      
Restricted stock compensation expense 5,307 5,307     5,307      
Net income 8,449,770 8,449,770         8,449,770  
Common dividends declared (9,103,997) (9,103,997)       (9,103,997)    
Preferred dividends declared (15,000) (15,000)       (15,000)    
Balance (in shares) at Dec. 31, 2020     0 24,943,383        
Balance at Dec. 31, 2020 113,703,152 [1] 113,603,652 $ 0 $ 249,389 233,850,271 (131,355,978) 10,859,970 99,500
Issuance of common stock (in shares)       4,500        
Issuance of common stock 11,700 11,700   $ 45 11,655      
Cost of issuing common stock (32,085) (32,085)     (32,085)      
Issuance of preferred stock, net (in shares)     2,400,000          
Issuance of preferred stock, net 57,254,935 57,254,935 $ 57,254,935          
Restricted stock compensation expense 3,908 3,908     3,908      
Net income 10,527,222 10,527,222         10,527,222  
Common dividends declared (8,980,832) (8,980,832)       (8,980,832)    
Preferred dividends declared (3,112,500) (3,112,500)       (3,112,500)    
Balance (in shares) at Dec. 31, 2021     2,400,000 24,947,883        
Balance at Dec. 31, 2021 $ 169,375,500 [1] $ 169,276,000 $ 57,254,935 $ 249,434 $ 233,833,749 $ (143,449,310) $ 21,387,192 $ 99,500
[1] Our consolidated balance sheets include assets and liabilities of consolidated variable interest entities ("VIEs") as the Company was the primary beneficiary of these VIEs. As of December 31, 2021 and December 31, 2020, assets of the consolidated VIEs totaled $1,003,896,995 and $591,318,506, respectively and the liabilities of consolidated VIEs totaled $827,390,435 and $463,411,967, respectively.