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Consolidated Statements of Cash Flows - USD ($)
3 Months Ended 6 Months Ended 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2023
Dec. 31, 2022
Jun. 30, 2023
Cash flows from operating activities:          
Net loss $ (1,553,605) $ (4,899,024) $ (5,762,307) $ (3,612,570)  
Adjustments to reconcile net loss to net cash from operating activities:          
Net unrealized loss on equity securities at fair value (263,478) 526,484 466,315 1,074,053  
Net income from equity method investments at fair value     (21,025) (3,079,405)  
Net realized (gain) loss on investments 1,285,998 (313,517) 1,285,998 (830,964)  
Loss on disposal of fixed assets     0 2,904  
Impairment loss on assets held for sale 0 1,913,346 0 1,913,346  
Straight-line rent     (30,534) (24,296)  
Depreciation and amortization     3,119,439 2,075,624  
Amortization of deferred financing costs and debt mark-to-market     633,437 322,885  
Accretion of above (below) market lease, net     (190,867) (28,692)  
Changes in assets and liabilities:          
Investments income, rents and other receivables     132,782 736,936  
Due from related entities     17,000 0  
Prepaid expenses and other assets     (28,159) (1,250,721)  
Deferred rent and other liabilities     101,544 674,367  
Accounts payable and accrued liabilities     (287,055) (1,322,238)  
Due to related entities     (22,289) (128,949)  
Net cash from operating activities     (585,721) (3,477,720)  
Cash flows from investing activities:          
Proceeds from sale of investments     4,020,482 3,203,368  
Investment acquisition advance     0 (193,000)  
Investments in real estate assets     (5,664,391) (8,233,733)  
Purchase of investments     (551,340) (178,301)  
Return of capital distributions     404,187 1,021,017  
Payment on contingent liability     (785,000) (858,000)  
Net cash from investing activities     (2,576,062) (5,238,649)  
Cash flows from financing activities:          
Proceeds from mortgage notes payable     3,288,715 2,095,088  
Payments on mortgage notes payable     (596,467) (192,348)  
Proceeds on notes payable     0 9,632  
Payments on notes payable     (358,543) (7,901)  
Payment of loan extension fee     (876,500) 0  
Acquisition cost of below market debt     (343,000) 0  
Dividend to common stockholders     (2,332,595) (1,924,319)  
Payment on finance lease liabilities     (31,469) 0 $ (30,276)
Payment of selling commissions and fees     (492,713) (814,130)  
Distributions to non-controlling interests holders     (340,280) (165,794)  
Contributions to non-controlling interest holders     140,423 0  
Redemption of common stock, net of stock redemption payable     (917,997) (734,436)  
Capital pending acceptance     (463,600) 337,500  
Net cash from financing activities     (1,941,175) 7,896,978  
Net decrease in cash, cash equivalents and restricted cash     (5,102,958) (819,391)  
Cash, cash equivalents and restricted cash at beginning of the period     18,141,019 8,998,165 8,998,165
Cash, cash equivalents and restricted cash at end of the period 13,038,061 8,178,774 13,038,061 8,178,774 18,141,019
Cash and cash equivalents at end of the period 12,173,527 7,109,368 12,173,527 7,109,368 17,242,781
Restricted cash at end of the period 864,534 587,576 864,534 587,576 $ 898,238
Cash and restricted cash at end of the period classified as assets held for sale $ 0 $ 481,830 0 481,830  
Supplemental disclosure of non-cash financing activities and other cash flow information:          
Issuance of common stock through reinvestment of dividends     906,957 789,860  
Issuance of preferred stock through reinvestment of dividends     83,556 16,552  
Issuance Operating Partnership Preferred Units through reinvestment of dividends     41,249 0  
Cash paid for interest     2,082,860 2,475,868  
First & Main, LP [Member]          
Supplemental disclosure of non-cash financing activities and other cash flow information:          
Issuance of the Operating Partnership Preferred Units for the purchase of interest (Note 1)     0 2,711,378  
Fair value of assets acquired from consolidation     0 18,188,301  
Fair value of liabilities assumed from consolidation     0 13,239,923  
1300 Main, LP [Member]          
Supplemental disclosure of non-cash financing activities and other cash flow information:          
Fair value of assets acquired from consolidation     0 10,546,464  
Fair value of liabilities assumed from consolidation     0 8,753,242  
Series A Preferred Stock [Member]          
Cash flows from financing activities:          
Dividend to preferred stockholders     (427,000) (109,314)  
Proceeds from issuance of preferred stock     1,718,951 9,403,000  
Redemption of net of stock redemption payable     (9,100) 0  
Series B Preferred Stock [Member]          
Cash flows from financing activities:          
Proceeds from issuance of preferred stock     100,000 0  
Supplemental disclosure of non-cash financing activities and other cash flow information:          
Increase in liquidation preference     $ 1,667 $ 0