XML 12 R2.htm IDEA: XBRL DOCUMENT v3.23.1
Consolidated Balance Sheets - USD ($)
Mar. 31, 2023
Jun. 30, 2022
Real estate assets    
Land $ 37,744,154 $ 32,117,072
Building, fixtures and improvements 131,216,280 64,182,548
Intangible lease assets 8,176,723 2,889,828
Less: accumulated depreciation and amortization (5,506,114) (1,768,130)
Total real estate assets, net 171,631,043 97,421,318
Cash and cash equivalents 17,582,046 7,400,163
Restricted cash 906,312 1,092,816
Investments, at fair value 15,007,329 19,748,208
Unconsolidated investment (non-security), at fair value 9,711,664 37,845,036
Investments income, rents and other receivables 957,012 1,499,214
Prepaid expenses and other assets 1,195,286 67,625
Assets held for sale, net 10,336,259 17,490,581
Total assets 227,326,951 182,564,961
Liabilities    
Mortgage notes payable, net 113,236,270 68,370,415
Notes payable 1,658,075 0
Deferred rent and other liabilities 1,190,732 443,014
Finance lease liabilities 642,483 0
Dividend payable 1,918,140 1,419,913
Accounts payable and accrued liabilities 1,624,829 2,938,689
Stock redemption payable 434,656 348,051
Below-market lease liabilities, net 1,534,950 1,063,579
Due to related entities 193,423 214,094
Contingent liability 1,503,000 2,715,000
Capital pending acceptance 549,400 85,000
Liabilities held for sale 1,649,272 744,989
Total liabilities 126,135,230 78,342,744
Equity    
Common stock, $0.0001 par value, 80,000,000 shares authorized; 13,241,026.32 and 13,253,571.98 shares issued and outstanding as of March 31, 2023 and June 30, 2022, respectively. 1,324 1,325
Preferred stock, $0.0001 par value, 20,000,000 shares authorized, 588,577.64 and 119,416.91 shares issued and outstanding as of March 31, 2023 and June 30, 2022, respectively. 59 12
Capital in excess of par value 132,061,537 121,961,699
Accumulated deficit (42,874,199) (24,108,723)
Total stockholders' equity 89,188,721 97,854,313
Non-controlling interests 12,003,000 6,367,904
Total equity 101,191,721 104,222,217
Total liabilities and equity $ 227,326,951 $ 182,564,961