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Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Mar. 31, 2023
Mar. 31, 2022
Mar. 31, 2023
Mar. 31, 2022
Revenue        
Rental and reimbursements $ 4,469,869 $ 2,518,643 $ 11,212,624 $ 7,811,439
Expenses        
Property operating and maintenance 2,536,750 1,473,136 6,655,721 4,709,611
Interest expense 1,907,854 572,490 5,171,262 1,417,992
Depreciation and amortization 1,662,359 1,146,495 3,737,983 3,225,189
Asset management fees to related party (Note 8) 767,299 680,678 2,225,085 2,034,852
Administrative cost reimbursements to related party (Note 8) 181,500 152,400 544,500 457,200
General and administrative 283,005 248,001 563,847 398,790
Professional fees 108,586 62,977 486,135 424,168
Directors' fees 25,500 25,500 80,500 81,500
Transfer agent cost reimbursements to related party (Note 8) 23,000 26,600 69,000 79,801
Total operating expenses 7,495,853 4,388,277 19,534,033 12,829,103
Operating loss (3,025,984) (1,869,634) (8,321,409) (5,017,664)
Other income (loss)        
Dividend and distribution income from equity securities at fair value 111,261 858,357 316,577 2,237,434
Net unrealized loss on equity securities at fair value (238,559) (3,838,217) (1,312,612) (876,882)
Net income (loss) from equity method investments at fair value (877,592) 5,404,473 2,756,382 9,339,034
Net realized gain from investments 0 5,109,713 830,964 9,462,904
Impairment loss on assets held for sale (6,207,743) 0 (8,121,089) 0
Net income (loss) (10,238,617) 5,664,692 (13,851,187) 15,144,826
Net (income) loss attributable to non-controlling interests (46,122) 60,261 (93,210) 90,523
Net (income) attributable to preferred stockholders (209,620) (18,507) (453,413) (18,947)
Net income (loss) attributable to common stockholders $ (10,494,359) $ 5,706,446 $ (14,397,810) $ 15,216,402
Net income (loss) per share attributable to common stockholders (in dollars per share) $ (0.79) $ 0.43 $ (1.08) $ 1.14
Weighted average common shares outstanding (in shares) 13,283,622 13,377,201 13,282,666.75 13,359,538.6