SHARE OFFERINGS AND FEES

6 Months Ended

Dec. 31, 2021

SHARE OFFERINGS AND FEES [Abstract]

SHARE OFFERINGS AND FEES

NOTE 10 – SHARE OFFERINGS AND FEES

The Company did not issue any new common shares during the six months ended December 31, 2021 as the third public offering terminated on October 31, 2020. During the six months ended December 31, 2021, the Company issued 57,052.24 common shares with total gross proceeds of $526,310 under the DRIP.

During the six months ended December 31, 2020, the Company issued 21,720 common shares with gross proceeds of $218,439. For the six months ended December 31, 2020, the Company incurred selling commissions and fees of $18,060. The Company’s third public offering terminated on October 31, 2020. In addition to the common shares sold through our public offering, in October 2020, the Company issued 504,091.15 common shares at $7.85 per share, which was the most recent NAV, to the Class A unit holders of the Operating Partnership as discussed in Note 1.

During the six months ended December 31, 2021, the Company issued 3,520 preferred shares with gross proceeds of $88,000. For the six months ended December 31, 2021, the Company incurred syndication costs of $431,424 in relation to preferred shares offering.