EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2023

Earnings Per Share [Abstract]

Schedule of Computation of Basic and Diluted Earnings Per Share

The following tables provide additional disclosure regarding the computation for the three months ended March 31, 2023 and March 31, 2022:

	Three Months Ended March 31, 2023				Three Months Ended March 31, 2022
Net income			$	5,766,691			$	2,954,799
Less dividends:
Common stock	$	3,133,869			$	3,133,509
Preferred stock	1,184,958				1,184,958
			4,318,827				4,318,467
Undistributed earnings (deficit)			$	1,447,864			$	(1,363,668)

	Unvested Share-Based Payment Awards		Common Stock		Unvested Share-Based Payment Awards		Common Stock
Distributed earnings	$	0.06	$	0.06	$	0.09	$	0.09
Undistributed earnings (deficit)	0.03		0.03		—		(0.04)
Total	$	0.09	$	0.09	$	0.09	$	0.05

Schedule of Weighted Average Number of Shares

	For the three months ended March 31
	2023	2022
Basic weighted average shares of common stock	52,225,152	36,460,452
Weighted average of non-vested restricted stock	6,000	4,500
Diluted weighted average shares of common stock outstanding	52,231,152	36,464,952