SHARE OFFERINGS AND FEES

9 Months Ended

Mar. 31, 2023

SHARE OFFERINGS AND FEES [Abstract]

SHARE OFFERINGS AND FEES

NOTE 12 – SHARE OFFERINGS AND FEES

During the nine months ended March 31, 2023, we issued 131,046.97 common shares with total gross proceeds of $1,208,909 under the DRIP. In addition, in September 2022, we issued 169.67 common shares at $10.25 per share, to the Class A unit holders of the Operating Partnership who exercised their option to convert their Class A units to our common shares.

During the nine months ended March 31, 2023, we issued 468,425.06 preferred shares with total gross proceeds of $11,449,495 under the Offering Circular and 735.66 preferred shares with total gross proceeds of $39,988 under the DRIP. For the nine months ended March 31, 2023, we incurred selling commissions and fees of $1,363,238 in relation to preferred shares offering.

During the nine months ended March 31, 2022, we issued 91,013.94 common shares with total gross proceeds of $839,610 under the DRIP. In addition to the common shares sold through our public offering, in March 2022, we issued 212.19 common shares at $10.25 per share, to the Class A unit holders of the Operating Partnership as discussed in Note 1.

During the nine months ended March 31, 2022, we issued 80,014.57 preferred shares with gross proceeds of $1,984,500. For the nine months ended March 31, 2022, we incurred syndication costs of $672,460 in relation to preferred shares offering.