Equity (Tables)

9 Months Ended

Sep. 30, 2022

Equity

Schedule of Stock Issuances under Standby Equity Purchase Agreement

Issuance Date	Shares Issued	Price Per Share		Total Proceeds
March 3, 2022	90,600	$	1.088	$	98,574
March 14, 2022	276,190		1.050		290,000
March 17, 2022	278,810		1.076		300,000
March 21, 2022	474,068		1.0547		500,000
April 1, 2022	325,732		1.0745		350,313
Total	1,445,400	$	1.065	$	1,538,887

Schedule of common stock purchases under Common Stock Repurchase Plan

Purchase (Trade) Date	Shares Purchased	Price Per Share		Total Cost (1)
January 4, 2022	400	$	1.060	$	424
January 5, 2022	48,205		1.060		51,093
January 6, 2022	100,000		1.046		104,556
January 7, 2022	30,000		1.050		31,500
January 10, 2022	50,000		1.020		51,000
January 14, 2022	100		1.010		101
January 21, 2022	39,365		1.006		39,603
Total	268,070	$	1.038	$	278,277

(1) Total cost before transaction fees.

Schedule of earnings per common share

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Basic and diluted shares outstanding
Weighted average Common Shares – basic		17,439,947		16,052,617		16,972,322		12,106,377
Effect of conversion of operating partnership units		213,531		213,531		213,531		213,531
Weighted average Common Shares – diluted		17,653,478		16,266,148		17,185,853		12,319,908
Calculation of earnings per share – basic and diluted
Net loss attributable to common shareholders	$	(1,754,458)	$	(872,015)	$	(3,758,629)	$	(3,832,502)
Weighted average Common Shares – basic and diluted		17,439,947		16,052,617		16,972,322		12,106,377
Loss per share – basic and diluted	$	(0.10)	$	(0.05)	$	(0.22)	$	(0.32)

Schedule of dividends and distributions to common shareholders and noncontrolling interests

	Three months ended September 30,				Nine months ended September 30,
	2022		2021		2022		2021
Common shareholders (dividends)	$	348,799	$	321,052	$	1,014,048	$	321,052
Hampton Inn Property noncontrolling interest (distribution)		—		358,576		—		358,576
Hanover Square Property noncontrolling interest (distributions)		24,800		16,000		41,200		28,000
Parkway Property noncontrolling interest (distributions)		9,000		—		48,600		—
Operating Partnership unit holders (distributions)		4,271		4,271		12,812		4,271
Total dividends and distributions	$	386,870	$	699,899	$	1,116,660	$	711,899