SHARE OFFERINGS AND FEES

3 Months Ended

Sep. 30, 2024

SHARE OFFERINGS AND FEES [Abstract]

SHARE OFFERINGS AND FEES

NOTE 12 – SHARE OFFERINGS AND FEES

As discussed in Note 1, on August 26, 2024, in connection with our agreement with Maxim, the Company has issued through a private placement agreement an aggregate amount of 133,000 shares of common stock to Maxim’s affiliate, approximately 1% of the Company’s outstanding stock.

During the three months ended September 30, 2024, no common shares were issued under the DRIP. Additionally, in September 2024, we issued 83.80 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 three months ended September 30, 2024, we issued 2,000.00 Series A preferred shares with total gross proceeds of $50,000 and 14,260.00 Series B preferred shares with total gross proceeds of $356,499 under the Offering Circular and incurred syndication costs of $46,011 in relation to preferred shares offering. For the three months ended September 30, 2024, we issued 2,059.14 Series A preferred shares with total gross proceeds of $46,333 under the DRIP and 84.96 Series B preferred shares with total gross proceeds of $1,912 under the DRIP.

During the three months ended September 30, 2023, we issued 60,063.66 common shares with total gross proceeds of $443,271 under the DRIP. In addition, in July 2023, we issued 2,265 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 three months ended September 30, 2023, we issued 54,394.20 Series A preferred shares with total gross proceeds of $1,359,350 under the Offering Circular and incurred syndication costs of $143,695 in relation to preferred shares offering. For the three months ended September 30, 2023, we issued 1,771.45 Series A preferred shares with total gross proceeds of $39,858 under the DRIP.