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Equity (Tables)
12 Months Ended
Dec. 31, 2022
Equity [Abstract]  
Schedule of Warrants Issued and Outstanding with Exercise Price Investor Warrants issued on September 8 and 28, 2021 became exercisable on a cashless basis on January 6 and 28, 2022, respectively. See Note 12 Subsequent Events for Investor Warrants exercised after December 31, 2022.

 

As of December 31,

 

Issue Date

2022

 

April 25, 2019 at an exercise price of $20.00

 

50,000

 

November 13, 2020 at an exercise price of $20.00

 

50,000

 

September 8, 2021 at an exercise price of $10.00

 

688,050

 

September 8, 2021 at an exercise price of $12.50

 

135,000

 

September 30, 2021 at an exercise price of $10.00

 

165,000

 

September 30, 2021 at an exercise price of $12.50

 

14,850

 

 

 

1,102,900

 

Schedule of Stockholders Equity [Table Text Block]

 

 

Warrants

 

 

Weighted Average Price

 

 

Weighted Average Remaining Life

 

As of December 31, 2020

 

100,000

 

 

$

20.00

 

 

 

6.1

 

Issuances

 

1,814,850

 

 

 

10.21

 

 

 

-

 

As of December 31, 2021

 

1,914,850

 

 

$

10.72

 

 

 

4.7

 

Exercised

 

(811,950

)

 

 

10.00

 

 

 

-

 

As of December 31, 2022

 

1,102,900

 

 

$

11.25

 

 

 

3.7

 

 

 

 

 

 

 

 

 

 

Warrants exercisable as of December 31, 2021

$

1,765,000

 

 

$

10.57

 

 

 

4.7

 

 

 

 

 

 

 

 

 

 

Warrants exercisable as of December 31, 2022

$

1,102,900

 

 

$

11.25

 

 

 

3.7

 

Schedule of Restricted Common Shares Issued

The following is a summary of restricted shares issued as of December 31:

 

 

 

 

 

 

 

2022

 

 

2021

 

Number of Shares Outstanding

 

23,167

 

 

 

14,582

 

Restricted Shares Issued

 

47,499

 

 

 

14,000

 

Restricted Shares Vested

 

(12,164

)

 

 

(5,415

)

Number of Shares Outstanding

 

58,502

 

 

 

23,167

 

Schedule of Cash Distributions

The following is a summary of distributions to common shareholders and operating partnership unit holders for the twelve months ended December 31, 2022 and 2021:

Authorized Date

Record Date

 

Per Share/Unit

 

October 3, 2022

December 15, 2022

 

$

0.039

 

October 3, 2022

November 15, 2022

 

$

0.039

 

October 3, 2022

October 15, 2022

 

$

0.039

 

June 27, 2022

September 15, 2022

 

$

0.054

 

June 27, 2022

August 15, 2022

 

$

0.054

 

June 27, 2022

July 15, 2022

 

$

0.054

 

March 15, 2022

June 15, 2022

 

$

0.054

 

March 15, 2022

May 15, 2022

 

$

0.054

 

March 15, 2022

April 15, 2022

 

$

0.054

 

December 10, 2021

March 15, 2022

 

$

0.054

 

December 10, 2021

February 15, 2022

 

$

0.054

 

December 10, 2021

January 15, 2022

 

$

0.054

 

October 5, 2021

December 15, 2021

 

$

0.054

 

October 5, 2021

November 15, 2021

 

$

0.054

 

October 5, 2021

October 15, 2021

 

$

0.054

 

August 25, 2021

August 31, 2021

 

$

0.325

 

February 26, 2021

March 15, 2021

 

$

0.325